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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

  • #101,361
  • Sep 8, 2011 10:09am Sep 8, 2011 10:09am
Quoting thermobee
Hey Mike,

Can you please help me out. I went long on the inside bar from yesterday on the Eur/Usd. I cant post charts since I am at work but I just check on my phone and it went straight down. It seemed like a decent trade, inside bar at a triple bottom. I only lost 50 pips but nonetheless I did not expect it to go against me like that. I can also only trade once a day so I couldn't wait for the break of the bar before entering. Thanks in advance for your time. I would post this in the PF but you seem to be active here.

Thanks
Tod
Hey Tod

I posted up about this one in the PF yesterday, shoot me a PM if you can't find it> it's in my beginner Q&A thread

Best
Mike
  • #101,362
  • Sep 8, 2011 10:23am Sep 8, 2011 10:23am
Quoting mbqb11
Hey Tod

I posted up about this one in the PF yesterday, shoot me a PM if you can't find it> it's in my beginner Q&A thread

Best
Mike
Gotcha. Ill check it out on there. Thanks bro.
  • #101,363
  • Sep 8, 2011 10:35am Sep 8, 2011 10:35am
aud/usd back on my watchlist. interested in seeing how this daily will close. my concern is the 1.06 that has proven to be a strong PPZ.
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  • #101,364
  • Sep 8, 2011 10:55am Sep 8, 2011 10:55am
Quoting Sgrb1
Where did you position your stop? I'm now just above today's high, targeting 1.37 ...
I'm out, just shy of final target. +160. I think this still has some legs, but I'm not holding through this hefty support @1.37
  • #101,365
  • Sep 8, 2011 11:27am Sep 8, 2011 11:27am
Hi
i took the trade, on 4 hr pin bar. closed a half of the position and bringing the other to be.
Eddy
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  • #101,366
  • Sep 8, 2011 11:28am Sep 8, 2011 11:28am
Quoting Edonya
Hi
i took the trade, on 4 hr pin bar. closed a half of the position and bringing the other to be.
Eddy
awesome Eddy
  • #101,367
  • Sep 8, 2011 11:37am Sep 8, 2011 11:37am
Hi guys,

Just like to know, for DBHLC and DBLHC, is it the closing price that is suppose to be level, or the wick?

Thanks

Caesar
"Nature's law" is called "Reason". When perfectly understood by human it is
  • #101,368
  • Sep 8, 2011 12:42pm Sep 8, 2011 12:42pm
Quoting Caesar95
Hi guys,

Just like to know, for DBHLC and DBLHC, is it the closing price that is suppose to be level, or the wick?

Thanks

Caesar
Hey Caesar

A dbhlc = Double bar high with a lower close. This is you will have matching highs and the bar most close below the previous bars low.

The opposite holds true for DBHLC

Let me know if you need examples
Mike
  • #101,369
  • Sep 8, 2011 1:02pm Sep 8, 2011 1:02pm
Eur/Usd finally breaking out from its cage and running south. Problably gona wait for retrace back to 1.4 and enter from there if PA confirmes.
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Every bar tells a tale
  • #101,370
  • Sep 8, 2011 1:44pm Sep 8, 2011 1:44pm
Quoting mbqb11
awesome Eddy
I am learning. I have been an on and off student of PA but i want to practice as from this month of september and this was my first trade.
Regards.
  • #101,371
  • Sep 8, 2011 1:53pm Sep 8, 2011 1:53pm
That weekly BEOB broke down nicely.

Quoting ColdLogic
Eur/Usd finally breaking out from its cage and running south. Problably gona wait for retrace back to 1.4 and enter from there if PA confirmes.
  • #101,372
  • Sep 8, 2011 2:55pm Sep 8, 2011 2:55pm
Quoting mbqb11
Hey Caesar

A dbhlc = Double bar high with a lower close. This is you will have matching highs and the bar most close below the previous bars low.

The opposite holds true for DBHLC

Let me know if you need examples
Mike

great attitude mb...Something that's been missing in FF for long...Cheers to you..
  • #101,373
  • Sep 8, 2011 3:30pm Sep 8, 2011 3:30pm
Quoting mbqb11
welcome jamon and the7

Follow those charts, they will be your best friend

Here is another TBL

Now though check out when you have multiple bar lows and highs in a row on a daily/weekly chart. They are some of my favorite easy plays

Best
Mike
Ha ha love it when I see something that Mike is seeing as well Though this was not a true BEOB (didn't fully encompass the prev low) I really liked it. Guess it could be considered a DLHC off of a BRN though. The real key to it for me was the look of the bar and the close above some prev resistance. Decided to place a pending order J16 classic style for a BEOB though. Didn't trigger, but oh well.
  • #101,374
  • Sep 8, 2011 3:34pm Sep 8, 2011 3:34pm
Don't usually go down on TF, but this one occured while I was asleep last night. Talk about one beautiful breakout and retrace that offered a great BEOB. Been watching this chart (USDSGD) religously for about 3 weeks now for a breakout up or down, but was just not meant to be. Oh well... On to the next one.

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  • #101,375
  • Sep 8, 2011 3:40pm Sep 8, 2011 3:40pm
Quoting thermobee
Hey Mike,

Can you please help me out. I went long on the inside bar from yesterday on the Eur/Usd. I cant post charts since I am at work but I just check on my phone and it went straight down. It seemed like a decent trade, inside bar at a triple bottom. I only lost 50 pips but nonetheless I did not expect it to go against me like that. I can also only trade once a day so I couldn't wait for the break of the bar before entering. Thanks in advance for your time. I would post this in the PF but you seem to be active here.

Thanks
Tod

Hey there Thermo. I saw that Mike had already responded just below, but just wanted to throw out my .02 before I read his response. When trading IBs (which is not very often) I always look at the previous bar that is encompasing them. The other big standout that I look out for is what we are trading into. Neither of those two items looked very favorable. The bar encompasing the IB was very bearish to me. In fact it was so much so that I was keeping an eye on the 4 hr for a signal short. I thought we would see some sort of retrace back up and then some of the traffic from the past 6 months of sideways trading would stop it. It did, but it did so with out me ha ha oh well looks to be one of those days.

Ryan
  • #101,376
  • Sep 8, 2011 3:42pm Sep 8, 2011 3:42pm
Quoting biDc
aud/usd back on my watchlist. interested in seeing how this daily will close. my concern is the 1.06 that has proven to be a strong PPZ.
Are you speaking about going long or short. While it has not occured yet, everything in the past 2 days seems to be telling me to look for a long opportunity.

Ryan

*edit*

Also your charts looks to be much different from mine. I tossed up my FXPro feed just for a different viewpoint.
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  • #101,377
  • Sep 8, 2011 6:44pm Sep 8, 2011 6:44pm
Quoting gungriffin
Are you speaking about going long or short. While it has not occured yet, everything in the past 2 days seems to be telling me to look for a long opportunity.

Ryan

*edit*

Also your charts looks to be much different from mine. I tossed up my FXPro feed just for a different viewpoint.
I was actually biased towards the downside earlier this morning from the setup in H4. It came down to a very obvious FTA and bounced up. Now I am waiting to see if price can close above or below 1.06...I do like the 1.0680 area for a short though.

I am currently long USD/CHF after seeing yesterday's close. Stop is at BE now.
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  • #101,378
  • Edited 7:09pm Sep 8, 2011 6:50pm | Edited 7:09pm
Quoting pocrel
In my new live room, i wil be showing what i have learnt on here and what system i have put together from my 5 years of trading and have traded live in another forum very successfully

Please feel free to drop by all traders welcome
Hey porcel . .why don't you show some of these setups or system (past or present) instead of spamming this Thread.

Show with charts, not spam.


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #101,379
  • Sep 8, 2011 8:01pm Sep 8, 2011 8:01pm
Quoting Sgrb1
I'm out, just shy of final target. +160. I think this still has some legs, but I'm not holding through this hefty support @1.37
Great trade SG...sorry about waiting a bit to get back to you (work and then happy hour!!!). I've just moved my stop to 1.3950, using 365/150 emas and ppz as cover. I'm anxious to see 3700 fully tested and what happens there to the lcs (hi jarroo) at 3645. If that area can breach and hold I see 3500ish as a realistic potential. Price is still looking heavy on this pair to me.

I play a little looser with stops than many, but think in this case it's worth watching the reaction at this area. I've got about half my initial risk off the table, so at this point I'm cool with "letting the market decide".
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  • #101,380
  • Sep 8, 2011 8:47pm Sep 8, 2011 8:47pm
Quoting Donkey
Great trade SG...sorry about waiting a bit to get back to you (work and then happy hour!!!). I've just moved my stop to 1.3950, using 365/150 emas and ppz as cover. I'm anxious to see 3700 fully tested and what happens there to the lcs (hi jarroo) at 3645. If that area can breach and hold I see 3500ish as a realistic potential. Price is still looking heavy on this pair to me.

I play a little looser with stops than many, but think in this case it's worth watching the reaction at this area. I've got about half my initial risk off the table, so at...
Hey D . .

I agree with with you about the 1.3700 on the Eur/Cad . .strong history.


We talked about these two in the PF . .Eur/Cad and Gbp/ Cad . .very similar setups with good confluences at their LCS levels. . . .

Eur/Cad; BEOB off the 1.4000, 365 ema.

Gbp/Cad; 150 ema, 1.5800 RN PPZ level . .nice PB on the Hourly (confirmation of Resistance).

I still think the Gbp/Cad may still continue downward . .I like its confluences.


Also it shows how important it is to manage the trade with the targets ..
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Indicators show the past. Price Action "Indicates" the future.
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