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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #92,221
  • Mar 24, 2011 10:48am Mar 24, 2011 10:48am
I'm watching this. Still a lot of time to go, but if it close like this I think it's tradable. Any comments? Thanks!
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  • #92,222
  • Mar 24, 2011 10:49am Mar 24, 2011 10:49am
Quoting MCFly
Is wednesday football?
lol
ha ho he hertha bsc ????
just kidding
meine augen sind die sterne
  • #92,223
  • Mar 24, 2011 10:49am Mar 24, 2011 10:49am
Quoting MCFly
Is wednesday football?
Its the cricket world cup semi final between India and Pakistan in India.

The 2 arch rivals...



g.
I believe . . .
  • #92,224
  • Mar 24, 2011 10:55am Mar 24, 2011 10:55am
Quoting aserbfx
sure. that's the biggest problem with stocks. i always try to stay away from some sectors which are prone to gaps (eg pharmacy). i do not trade against the direction of stocks with a lot of gaps in a particular direction.
as far as acat is concerned: this stocks only made up-gaps in the last years. and the setup was long.
gruß zurück
Do you trade normal stocks or CFD's?

Ich bin eher der Union-Fan
  • #92,225
  • Mar 24, 2011 10:56am Mar 24, 2011 10:56am
Quoting Adilius07
I'm watching this. Still a lot of time to go, but if it close like this I think it's tradable. Any comments? Thanks!
looks ery tiny compared to the up move Adi, and seems like its headed straight into a tonne of bar highs.

just my 2 pips.

g.
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I believe . . .
  • #92,226
  • Mar 24, 2011 10:57am Mar 24, 2011 10:57am
Yes Ghous i noticed that PPZ .. thats why i asked how you look at this tipe of levels wich happened way back .
Thanks and yes it does help
  • #92,227
  • Mar 24, 2011 10:59am Mar 24, 2011 10:59am
Quoting ghous
Its the cricket world cup semi final between India and Pakistan in India.

The 2 arch rivals...



g.
I know I was just kidding. Cricket is nearly unknown here. England, India and Pakistan are the best teams right?
  • #92,228
  • Mar 24, 2011 11:02am Mar 24, 2011 11:02am
Quoting MCFly
I know I was just kidding. Cricket is nearly unknown here. England, India and Pakistan are the best teams right?
Top contenders in Cricket:
India,Pakistan,Australia(Aussie out of WC),Sri Lanka,South Africa.
England can be party-poopers too!
  • #92,229
  • Mar 24, 2011 11:03am Mar 24, 2011 11:03am
Quoting ghous
looks ery tiny compared to the up move Adi, and seems like its headed straight into a tonne of bar highs.

just my 2 pips.

g.
Hi Ghous, thanks for reply! Yes on your chart it certainly looks so! Those bar highs are right below the PB.

But on FxPro there is 45 pips until first bar high!
  • #92,230
  • Mar 24, 2011 11:04am Mar 24, 2011 11:04am
The retracement isn't good enough and the candle is a little bit too small?
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  • #92,231
  • Mar 24, 2011 11:07am Mar 24, 2011 11:07am
Quoting Adilius07
Hi Ghous, thanks for reply! Yes on your chart it certainly looks so! Those bar highs are right below the PB.

But on FxPro there is 45 pips until first bar high!
I quoted the fxpro chart Adi, and I see a 2 pips difference between the low of the PB and that highest high in that bunch of bar highs marking the FTA.

g.
I believe . . .
  • #92,232
  • Mar 24, 2011 11:08am Mar 24, 2011 11:08am
Quoting MCFly
The retracement isn't good enough and the candle is a little bit too small?
I think the absence of space is the main problem here, and then those two you mentioned also
  • #92,233
  • Mar 24, 2011 11:10am Mar 24, 2011 11:10am
Quoting MCFly
The retracement isn't good enough and the candle is a little bit too small?
Yup! Good eye MC.

Something around the 1.37 for instance would have been better.

g.
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I believe . . .
  • #92,234
  • Mar 24, 2011 11:11am Mar 24, 2011 11:11am
Quoting MCFly
Do you trade normal stocks or CFD's?

Ich bin eher der Union-Fan
eisern union eisern union *shouting*

i prefer stocks. i don't trust cfd's
meine augen sind die sterne
  • #92,235
  • Mar 24, 2011 11:12am Mar 24, 2011 11:12am
Quoting ghous
I quoted the fxpro chart Adi, and I see a 2 pips difference between the low of the PB and that highest high in that bunch of bar highs marking the FTA.

g.
Maybe because your chart is SilverEURO and mine is SilverUSD ?

Anyway I got the point, the bar does look small, even compared to the last bar to the left, so it has a low probability to reverse this strong move up. Better skip it.
But the shape was a beauty...
  • #92,236
  • Mar 24, 2011 11:22am Mar 24, 2011 11:22am
1st identifying a ppz.
2nd wait for price-action to confirm direction.

+++++++++++++++++++++++++++++++++++

gbp/nzd is a very choppy pair.
ppz with 38% fib, rn and s/r.
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meine augen sind die sterne
  • #92,237
  • Mar 24, 2011 11:26am Mar 24, 2011 11:26am
Quoting FxPrelude
Didnt reach the 1.4
Made a nice PB on 1H and just bounced off 38 fibo lol

And Mike , Ghous or Jaroo would you minde to share your opinion on that BUOB ony daily all i see is previuse resistance turn suport and 38 fibo and 1.4250 resistance from last year ...

ty
Hey FxP

This would be a BUOB at a very high swing high point trading into the last high. We want these buobs at better swing low points.

The reason the 4hr was good is it was with the trend as SC said and enough of a retrace with some space to run. I would have preferred a deeper retrace to a more confluenced area like the 1.4.

The daily would be an easy pass for me without more information or reason to play a continuation(ie a breakout pattern)

Best
Mike
  • #92,238
  • Mar 24, 2011 11:47am Mar 24, 2011 11:47am
Hi Mike ...
Yes i was allso wayting for a pulback to 1.4 on 4H ( nice confluence there ) but it didnt reach it and made a doji on 38 fibo ... so i didnt took it at the time and mised the 1H PB.
But that daily BUOB made me a bit confused with that old PPZ and the place where it is forming .
So you would only take BUOB on a daily TF at a siwing low ?

Ty
  • #92,239
  • Mar 24, 2011 11:55am Mar 24, 2011 11:55am
Quoting FxPrelude
Hi Mike ...
Yes i was allso wayting for a pulback to 1.4 on 4H ( nice confluence there ) but it didnt reach it and made a doji on 38 fibo ... so i didnt took it at the time and mised the 1H PB.
But that daily BOUB made me a bit confused with that old PPZ and the place where it is forming .
So you would only take BUOB on a daily TF at a siwing low ?

Ty
Hey FxP

The story(location) + the bar is most important. James teaches BUOBs at swing lows, and I believe strongly in learning them in these locations first. This has always been my focus especially with this thread and new traders. Best to get the basics right first in my opinion and it is easier too if you ask me.

Here are some examples from James himself
http://www.forexfactory.com/showpost...ostcount=59046
http://www.forexfactory.com/showpost...ostcount=46975


I believe building the foundation is very crucial and then branching out as you get more advanced/experience. Same goes for timeframes

Hope that helps
Mike
  • #92,240
  • Mar 24, 2011 12:00pm Mar 24, 2011 12:00pm
The thing is that the rules about where you take the BUOB or BEOB it make me a bit confused ...
PB i took it simple ... only swing low or swing high + BRN and most prefered 50 fibo if swing low ... if there is a nice confluence and nice space ... i will take it hehe

With OB i notice you can trade them after consolidation , flags , wedges ...etc
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