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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

  • #103,181
  • Oct 17, 2011 10:44pm Oct 17, 2011 10:44pm
Quoting jarroo
I would look at both levels.



Sure you can, its right there . . .

Getting line blind. LOL thanks Jarroo

I think the monthly bar spike threw me off.

Historically, it has reacted well, also.

SO, which will prevail, the block of consolidation or this BUEOB?
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  • #103,182
  • Oct 17, 2011 11:16pm Oct 17, 2011 11:16pm
Quoting jarroo
I would not call that a Highest Close of Resistance level (HCR) on your chart . .its not at a Swing High nor at the Top of a Consolidation area.
I would call it a Monthly PPZ level at parity (1.0000) . . .
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Indicators show the past. Price Action "Indicates" the future.
  • #103,183
  • Oct 17, 2011 11:23pm Oct 17, 2011 11:23pm
Hi, been out of action for a few days as I was sick. Lots to catch up here. Any seniors out there give advice as to which of these 3 daily setups are the best? All 3 are BEOB (I'm not sure if AUDUSD qualifies as one though as it didn't close near its day's low)

I personally prefer the AUDJPY and NZDUSD setups the best, looks cleanest with BRN above as resistance. Pls give your comments. Thks
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  • #103,184
  • Oct 17, 2011 11:24pm Oct 17, 2011 11:24pm
Quoting jarroo
I would call it a Monthly PPZ level at parity (1.0000) . . .
Yeah, I hear you. I see a bounce at a resistance area and am calling them all the same thing.

Got to work on that.
  • #103,185
  • Oct 17, 2011 11:28pm Oct 17, 2011 11:28pm
Quoting Fx7877
Hi, been out of action for a few days as I was sick. Lots to catch up here. Any seniors out there give advice as to which of these 3 daily setups are the best? All 3 are BEOB (I'm not sure if AUDUSD qualifies as one though as it didn't close near its day's low)

I personally prefer the AUDJPY and NZDUSD setups the best, looks cleanest with BRN above as resistance. Pls give your comments. Thks

Have you seen these posts . .good stuff . .

Quoting mbqb11
hey Nik

It's a beob on my feed since it has a higher high then previous bar, a lower low then previous bar and a close near the bottom of the bar(in this case lower then previous bars low).


Best
Mike
Quoting Donkey
Technically it's a BEOB in that the high and low are both higher and lower than that of the previous bar. In this case, on my feed, the close of the bar is actually 1 pip below the previous bar's low. I wish it engulfed a little more, but the other factors tip the scales for me and are the reasons I go short - it's gotta be more than just the bar. (I took a zoomed shot that shows that it does engulf, just slightly though).

Those are:
[list][*]Location of the Price Pivot Zone in confluence the big round number of 80, at a nice swing high. Location...
Quoting mbqb11
Hey Nik

A beob simply has to meet the following criteria to be a BEOB(doesn't mean you trade it if it meets the criteria, simply what is considered a beob)

So for a beob

You want a high higher then the previous bars low.
You want a low lower then the previous bars low
You want the close to be near the bottom portion of the bar

So for aud/jpy we can see we meet all those criteria to be called a beob.

Hope that clears it up, let me know
Mike
Quoting Donkey
The candle conists of the body and the wicks (body reps open/close, wicks high/low).

Min requirements as I see them on the bearish engulfing (represented by body), the close has to be lower than the open and the high and low must be higher and lower respectively than those of the previous bar. A couple of things can give the bar more strength - closing lower than the previous bars close and engulfing a range of bars are 2 that come to mind.

The opposite is true for BUOB as far as open and close - close must be higher than the open.

Take a look...
Indicators show the past. Price Action "Indicates" the future.
  • #103,186
  • Oct 17, 2011 11:36pm Oct 17, 2011 11:36pm
Quoting Pinbar
Yeah, I hear you. I see a bounce at a resistance area and am calling them all the same thing.

Got to work on that.
Parity is a great level to watch especailly when there are confluences that align with them. PA at these levels are a great confirmation as to where Price may be heading. Also, when PBT&CAorB at these levels for a Touch Trade can also be played.
Indicators show the past. Price Action "Indicates" the future.
  • #103,187
  • Oct 17, 2011 11:44pm Oct 17, 2011 11:44pm
Quoting jarroo
Have you seen these posts . .good stuff . .
Jarroo,
Thanks for info. But I'm still not 100% clear abt the AUDUSD bar whether its considered BEOB becos technically it is (its engulfing), but the last point on Mike's post that it has to close near the bottom of the bar....hmm it kinda doesn't fulfill this criteria does it? Sorry am not really thinking straight today
  • #103,188
  • Edited 12:12am Oct 18, 2011 12:00am | Edited 12:12am
Quoting Fx7877
Jarroo,
Thanks for info. But I'm still not 100% clear abt the AUDUSD bar whether its considered BEOB becos technically it is (its engulfing), but the last point on Mike's post that it has to close near the bottom of the bar....hmm it kinda doesn't fulfill this criteria does it? Sorry am not really thinking straight today
I do like that it Closed below a strong level, the 1.0850ish. It does have good potential of hitting its targets (previous bar Highs/Lows) if or when it breaks the BEOB. A sell stop below the BEOB would not be a bad play at all ..

Should be fun to watch or demo . .


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #103,189
  • Oct 18, 2011 12:32am Oct 18, 2011 12:32am
Quoting Greenhaze
CJ aproached the daily/h4 resistance. Price gave us m30 beob

Fta hit. Stop moved just above 77 RN.
Nice GH. . .Classic . . . .that 30min beob turned into some nice higher time frame (Hourly, 4 Hour) bearhish PA as well . .
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Indicators show the past. Price Action "Indicates" the future.
  • #103,190
  • Oct 18, 2011 12:45am Oct 18, 2011 12:45am
Hello Sir,

Any one have indicator of MT4 which shows h12 time frame

thanks Sohail Riaz
  • #103,191
  • Oct 18, 2011 12:51am Oct 18, 2011 12:51am
Quoting jarroo
Nice GH. . .Classic . . . .that 30min beob turned into some nice higher time frame (Hourly, 4 Hour) bearhish PA as well . .

Yeah, I was watching that setup GH mentioned.
I like how on the H1 tf, it showed its hand at the FTA & TL and this area quickly flipped from support to resistance, with only a minor hiccup.

Great stuff.
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  • #103,192
  • Oct 18, 2011 1:16am Oct 18, 2011 1:16am
Good morning traders :-)

I don't think I will take this trade, but I would like to hear your opinion.
It is DBLHC on USDJPY. 23.6 Fib confluence. Long term downtrend, but right now we are in consolidation. There is not much space between the previous bar low and the bottom lows. Plus FTA would be very close - 76.470 (if we enter the trade under last bar low)...so maybe a B trade? :-)
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  • #103,193
  • Oct 18, 2011 1:34am Oct 18, 2011 1:34am
Quoting darxtar
Good morning traders :-)

I don't think I will take this trade, but I would like to hear your opinion.
It is DBLHC on USDJPY. 23.6 Fib confluence. Long term downtrend, but right now we are in consolidation. There is not much space between the previous bar low and the bottom lows. Plus FTA would be very close - 76.470 (if we enter the trade under last bar low)...so maybe a B trade? :-)

I agree, good observation.
Maybe if those Three Bar highs break, it will finally break out of this sideways movement. Note the winding up in the triangle.
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  • #103,194
  • Oct 18, 2011 1:57am Oct 18, 2011 1:57am
Quoting Pinbar
I think Donkey is looking at the possible Bigger picture.
Cool lets hope it works out for all..
Trading is a test match not a Twenty20.
  • #103,195
  • Oct 18, 2011 2:48am Oct 18, 2011 2:48am
First I would like to thank to Pinbar for his comment on my previous post - thank you Pinbar

And here is a trade I take today, any comment is appreciated.
It is BEOB on EUR/GBP.
Bullish bar high a little below Fib 50, then price broke through Fib 38 and closed below previous bearish bar (I don't count the sunday bar).
Conflunce - high of the bullish bar with previous bars highs (not exactly the same high and like 20 bars to the left, but its there).
FTA - the 365 EMA - so I took partial profit and placed the SL to BE.
Profit Target - I think the 23 Fib - what do you say?

In the future I will try to mark the confluences and so on to the graph, I guess its kinda messy when I type it here

I wish successful trading day to everyone.
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  • #103,196
  • Oct 18, 2011 2:56am Oct 18, 2011 2:56am
Quoting darxtar
First I would like to thank to Pinbar for his comment on my previous post - thank you Pinbar

And here is a trade I take today, any comment is appreciated.
It is BEOB on EUR/GBP.
Bullish bar high a little below Fib 50, then price broke through Fib 38 and closed below previous bearish bar (I don't count the sunday bar).
Conflunce - high of the bullish bar with previous bars highs (not exactly the same high and like 20 bars to the left, but its there).
FTA - the 365 EMA - so I took partial profit and placed the SL to BE.
Profit Target - I think...

I'd watch out for this Monthly PPZ that has confluence with the FTB to the 365 EMA & the 50 fibo. This area could act as strong support, until we get a daily close below it.

But, as you are already at BE, it is not so crucial. Good job.

Edit: The weekly TF shows it more clearly.
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  • #103,197
  • Oct 18, 2011 3:42am Oct 18, 2011 3:42am
Guys plz any one reply this post. I need h12 time frame in MT4
  • #103,198
  • Oct 18, 2011 3:45am Oct 18, 2011 3:45am
Quoting featurelion
Guys plz any one reply this post. I need h12 time frame in MT4
Jarroo posted an indicator that would do that somewhere in this thread.
  • #103,199
  • Oct 18, 2011 8:13am Oct 18, 2011 8:13am
Quoting darxtar
First I would like to thank to Pinbar for his comment on my previous post - thank you Pinbar

And here is a trade I take today, any comment is appreciated.
It is BEOB on EUR/GBP.
Bullish bar high a little below Fib 50, then price broke through Fib 38 and closed below previous bearish bar (I don't count the sunday bar).
Conflunce - high of the bullish bar with previous bars highs (not exactly the same high and like 20 bars to the left, but its there).
FTA - the 365 EMA - so I took partial profit and placed the SL to BE.
Profit Target - I think...

See, currently we have a PB type pattern forming on this daily bar, which has Yet to close. But, I am sure you can see what I meant by the last reply when I said that, there was some serious support beneath this bar. The rule of thumb is, we want to be taking PA away from these strong areas of support, not into them.

This is not a trade recommendation, especially as there is no Space to the FTA if this current bar closes just above the open.

Hope this helps.
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  • #103,200
  • Oct 18, 2011 8:57am Oct 18, 2011 8:57am
Quoting Pinbar
Jarroo posted an indicator that would do that somewhere in this thread.
you can use this FL

http://www.forexfactory.com/showpost...ostcount=54148


Best
Mike
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