james16 Chart Thread | Page 4806 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

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

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #96,101
  • Jun 7, 2011 5:25am Jun 7, 2011 5:25am
Quoting Pinbar
Hey, GJ it is my understanding that, it is not a matter of whether the bar closes below the previous bar or not.
It is simply a matter of the low of that bar, taking out the low of the previous bar, that makes it a BEOB and not a PB...
i think u are both correct & incorrect. lol

i think some like a BEOB to be a bar (with a range) that just engulfs the prior bar (irrespective of the 'body' or the open-to-close)
some want a bar with a range (high to low) that engulfs the prior bar's range plus the BEOB's body (open to close) to engulf the prior bar's body too.

in the end, yeah, it's a PB-BEOB hybrid
  • #96,102
  • Jun 7, 2011 5:31am Jun 7, 2011 5:31am
Quoting supremeChaos
i think u are both correct & incorrect. lol

i think some like a BEOB to be a bar (with a range) that just engulfs the prior bar (irrespective of the 'body' or the open-to-close)
some want a bar with a range (high to low) that engulfs the prior bar's range plus the BEOB's body (open to close) to engulf the prior bar's body too.

in the end, yeah, it's a PB-BEOB hybrid
yeah they can come in different forms but the bare min needed to qualify is what i described in the end (my last post)i think ??

cheers SC

jon
PATIENCE... DISCIPLINE
  • #96,103
  • Jun 7, 2011 5:38am Jun 7, 2011 5:38am
Quoting g_j_hook@yah
yeah they can come in different forms but the bare min needed to qualify is what i described in the end (my last post)i think ??
...
i think so
sometimes we need to review the basic stuff, no?
else, my amnesia will worsen
  • #96,104
  • Jun 7, 2011 6:02am Jun 7, 2011 6:02am
Have anyone ever had any positive experience with Signal Services?

I'm thinking maybe to cheat a little while I learn... so I can make at least $10 extra per month
  • #96,105
  • Jun 7, 2011 6:20am Jun 7, 2011 6:20am
Quoting g_j_hook@yah
yeah they can come in different forms but the bare min needed to qualify is what i described in the end (my last post)i think ??

cheers SC

jon

Hey GJ..I think we just cracked a fresh can of worms. LOL

It is good you are making us all think here.

You know what I think is the cause of the confusion?

It is the DBLHC or DBHLC, because, unlike the BEOB or BUEOB, they do have to close above or below the extreme of the previous bar. This tends to confuse us with BEOB or BUEOB.

Yeah, I drew that BEOB with the close below the previous bar on my charts because, I wanted to show the best example of the setups.

However, I still see Jarro taking the BEOB that do not close below.

I actually termed the Pinnish looking BEOB a "Jaroo Special" as it saves me from going mad. LOL
  • #96,106
  • Jun 7, 2011 6:22am Jun 7, 2011 6:22am
Quoting Adilius07
Have anyone ever had any positive experience with Signal Services?

I'm thinking maybe to cheat a little while I learn... so I can make at least $10 extra per month
I've made very detailed compairson of signal services 2 years ago (i dont have it anymore). The most reputable and consistent SS was www.fxmaster.net at that time IMO. They used constant 80 pips SL if i remember corectly.
  • #96,107
  • Jun 7, 2011 6:32am Jun 7, 2011 6:32am
Any1 gotta problem of broken EMAs??
i have posted two samples of it..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: an.gif Size: 18 KB
Click to Enlarge Name: nc1.gif Size: 18 KB
  • #96,108
  • Jun 7, 2011 6:32am Jun 7, 2011 6:32am
Hey all

Anyone got any thoughts on the weekly pinbar on the AUDNZD? My humble opinion: looks like a nice bar, it's with the trend, off support, off the 50 fib, and got some space if it breaks 1.3230.

Slightly concerned that no-one's mentioned it, and so far price on the current weekly bar has fallen lower than I'd have liked.

EDIT: Hmmm. I see it's fighting a huge monthly outside bar...

Attached Image (click to enlarge)
Click to Enlarge Name: AUNZ pb.png Size: 39 KB
When the going gets weird, the weird turn pro.
  • #96,109
  • Jun 7, 2011 6:40am Jun 7, 2011 6:40am
Quoting AvanishDemo
Any1 gotta problem of broken EMAs??
i have posted two samples of it..
the MT4 u use should have enough price data to generate an MA. (it's broker feed-dependent)
remember an indicator (like an MA) is calculated based on past price

press Ctrl + O, then go to 'Charts' tab
increase the value of Max bars in chart. u can also increase Max bars in history, if necessary. then restart your MT4.
if that doesnt work, try another MT4 broker.
  • #96,110
  • Jun 7, 2011 6:48am Jun 7, 2011 6:48am
Quoting Greenhaze
I've made very detailed compairson of signal services 2 years ago (i dont have it anymore). The most reputable and consistent SS was www.fxmaster.net at that time IMO. They used constant 80 pips SL if i remember corectly.
Hi GH, thanks for reply. Have you use it yourself?
I found a few too, my main concern is: Do they really have same performance as their website advertises? If so why not we all invest in such a service while we learn to do it ourselves? I mean this is just a simple business decision, pay $200 per month so you can make $1000 per month from it....
  • #96,111
  • Jun 7, 2011 6:50am Jun 7, 2011 6:50am
Quoting stark1
Anyone got any thoughts on the weekly pinbar on the AUDNZD? My humble opinion: looks like a nice bar, it's with the trend, off support, off the 50 fib, and got some space if it breaks 1.3230....
hello stark1,
no one mentioning it should be the least of your concerns.
the market is so vast we cant monitor all of the them.

i agree that weekly trend is bullish, but immediate trend (May2011 onwards) on Daily & below is bearish IMHO.
also that pinbar is not good looking, & small. plus it's just below a PPZ (1.3180 - 1.32). it's kind of like u are 7 foot tall & the ceiling is 7feet 3inches. almost headbanging close, lol

imho, this is more likely to fall than rise... probably towards 1.24 - 1.29
i dont monitor this pair, just FYI.
hope this helps
  • #96,112
  • Jun 7, 2011 6:55am Jun 7, 2011 6:55am
Hi guys

Just to throw in my tuppence worth on EuroCad pin discussed earlier....pin far too small compared to huge prior upmove and bars. I am struggling to find any decent setups at the moment and getting a bit itchy to take a trade!! Anyone else suffering the same feelings? Where have the A+ trades gone?

Kal
  • #96,113
  • Jun 7, 2011 6:56am Jun 7, 2011 6:56am
Hello SC, thanks for replying to me again. I know what you mean about the bearishness etc, but I thought the bar was kinda nice and not that small . I guess it is relation to the bar before it though. I was really hoping that it was the end of pull-back, but you're probably right. Anyway, glad you confirmed everything else I was thinking. Perhaps I'm finally on the right track...

When the going gets weird, the weird turn pro.
  • #96,114
  • Jun 7, 2011 7:05am Jun 7, 2011 7:05am
When I started with forex trading, I had similar thoughts. Why study the markets and 'waste' time if I can buy signals for a small fee.

I followed many signal services for a while and in the end they all seemed to have their weaknesses and went into large drawdown. Especially the ones with fixed SL.

The latest example was Jacko. I subscribed to his service, went back to the beginning of his blog and put all his signals in a spreadsheet. The conclusion which I drew was that I would only make money. Guess what happened, the guy started breaking his own rules and went into significant drawdown. Fortunately I didn't go into major loss as I stopped trading the signals quickly after he started breaking his rules.

But beside the fact that most signals services don't work imo, why would you rely on someone else for your own success?! Imagine that the signal service provider stops their business one day, what then? You'll be on your own, with zero trading knowledge nor experience.

I'm in this business because it is what i've always wanted to do, it's my dream and trading for a living is my goal. In that case I'm definately not going to rely on someone else for my success. Stay safe bro.

Quoting Adilius07
If so why not we all invest in such a service while we learn to do it ourselves? I mean this is just a simple business decision, pay $200 per month so you can make $1000 per month from it....
  • #96,115
  • Jun 7, 2011 7:12am Jun 7, 2011 7:12am
Quoting stark1
I know what you mean about the bearishness etc, but I thought the bar was kinda nice and not that small..
here's a quick 'tool' that u can use...
visually compare the size of the bar with all the prior bars in the chart.

ask yourself:
-is it smaller, same, bigger than average?
-does the bar really stand out among all the bars in the chart?
then compare the bar size to the prior 1-5bars.

in your chart, to me, the pinbar is small or average in size.
the prior bar, on the other hand, stands out. not many bars in your chart are similar to it in size.

price can still range from here on & rise above the PB high later. but so far, that's not what it's doing.
remember, this is a weekly bar, so u still have time for it to complete. anything can happen
  • #96,116
  • Jun 7, 2011 7:16am Jun 7, 2011 7:16am
Quoting Pinbar
Hey GJ..I think we just cracked a fresh can of worms. LOL

It is good you are making us all think here.

You know what I think is the cause of the confusion?

It is the DBLHC or DBHLC, because, unlike the BEOB or BUEOB, they do have to close above or below the extreme of the previous bar. This tends to confuse us with BEOB or BUEOB.

Yeah, I drew that BEOB with the close below the previous bar on my charts because, I wanted to show the best example of the setups.

However, I still see Jarro taking the BEOB that do not close below.

I...
lol..yeah i think we have! its good to rethink these things out every now and then eh!!?? its funny how although we trade them on a daily bases (almost) we still lose the details
im glad it came up.

cheers

jon
PATIENCE... DISCIPLINE
  • #96,117
  • Jun 7, 2011 7:16am Jun 7, 2011 7:16am
Quoting supremeChaos
in your chart, to me, the pinbar is small or average in size.
the prior bar, on the other hand, stands out. not many bars in your chart are similar to it in size.
You know, somewhere in my head I know this stuff, but it's really so cool to have someone like you (and everyone who helps us out) to confirm and remind me of what I should be looking for.

Thanks again man, really appreciate your time.
When the going gets weird, the weird turn pro.
  • #96,118
  • Jun 7, 2011 7:28am Jun 7, 2011 7:28am
I had been watching the battle stage of the Monthly BEOB vs the Weekly Bullish PB since Sunday.

it was very interesting to see the low of the previous bar to the monthly BEOB get tested and watch the reaction today on the daily chart.

Just goes to show that we have to pay attention to what is happening on the higher TF stage.


Brings back fond memories of that Jarroo chap! LOL


Hope he is ok and taking time out to enjoy himself.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: d.gif Size: 36 KB
Click to Enlarge Name: w.gif Size: 28 KB
Click to Enlarge Name: m.gif Size: 30 KB
  • #96,119
  • Jun 7, 2011 7:28am Jun 7, 2011 7:28am
Quoting stark1
You know, somewhere in my head I know this stuff, but it's really so cool to have someone like you (and everyone who helps us out) to confirm and remind me of what I should be looking for.
u are welcome.
dont worry, i need more reminders than u do.
posting is a way for me to remind myself of & 're-learn' such things. my amnesia sucks

Quoting Pinbar
I had been watching the battle stage of the Monthly BEOB vs the Weekly Bullish PB since Sunday.
it was very interesting to see the low of the previous bar to the monthly BEOB get tested and watch the reaction today on the daily chart..
yes, interesting.

your 1st chart clearly shows the 1.3180 -1.32 ppz i mentioned. in fact, that was a possible trade, IMHO -- short of the small pin off of that ppz or a touch trade at the PPZ.
  • #96,120
  • Jun 7, 2011 7:29am Jun 7, 2011 7:29am
Quoting stark1
You know, somewhere in my head I know this stuff, but it's really so cool to have someone like you (and everyone who helps us out) to confirm and remind me of what I should be looking for.

Thanks again man, really appreciate your time.
heres a good example of a stand out bar, i missed this and it was created by news which always makes me nervious but a good bar non the less..
not a good trade set up i hasten to add..


jon
Attached Image (click to enlarge)
Click to Enlarge Name: chart 1.gif Size: 29 KB
PATIENCE... DISCIPLINE
45 traders viewing now