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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

  • #103,321
  • Oct 20, 2011 5:55am Oct 20, 2011 5:55am
Quoting Pinbar
I don't see anything wrong with the size of the previous bar, the BEOB is bigger simply by the nature that it engulfs the previous bar. The location is the problem. At a SL when we want to see them at a SH and going right into a daily PPZ.
I was just commenting on how the bars looked on my data for this setup. I don't like the way it looks. It's not a very pretty looking picture and there are plenty of currency pairs out there to look for a better setup.

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  • #103,322
  • Oct 20, 2011 5:56am Oct 20, 2011 5:56am
Quoting darxtar
No it is not. Now I feel kinda embarassed and thats why I will remember to trade BEOB at swing high and BUOB at swing low

Thanks for reminding me Pinbar.

We have all done it DX, it is no big deal.

I think it is because first of all we have to learn the PA patterns, then we start seeing the PA all over the place, including where we do not want to see them.


I once bought a Blue Saab car while I was in the uk, I had never seen this car before. The first week I was driving this car, I started seeing them all over the place. Same thing.

Location is the key to PA...

As someone said, the 3 major factors in the success or failure of any given PA is, Location, Location & Location.
  • #103,323
  • Oct 20, 2011 5:59am Oct 20, 2011 5:59am
Quoting picon1
I was just commenting on how the bars looked on my data for this setup. I don't like the way it looks. It's not a very pretty looking picture and there are plenty of currency pairs out there to look for a better setup.

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Yes, but the comparative bar size to the previous bar has nothing to do with it IMHO.
It is the location that is off.
  • #103,324
  • Oct 20, 2011 6:23am Oct 20, 2011 6:23am
Quoting Pinbar
Yes, but the comparative bar size to the previous bar has nothing to do with it IMHO.
It is the location that is off.
I agree that the location isn't the best, but I don't like the look of the bar setup. Doesn't suggest that price could move further away. Where as if you look at the previous BEOB from Thursday I think it was. The bullish bar was small and the BEOB was quite a lot larger, which for me suggested momentum and further moves down.

It's all a matter of opinion.
  • #103,325
  • Oct 20, 2011 6:40am Oct 20, 2011 6:40am
Quoting Donkey
Potential 4H head and shoulders forming on GBPAUD....although the BUOB is going against.
Quoting jarroo
half way there, D . .nice . . .

3/4 of the way there, D . .nice . .
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Indicators show the past. Price Action "Indicates" the future.
  • #103,326
  • Oct 20, 2011 7:05am Oct 20, 2011 7:05am
Quoting picon1
I agree that the location isn't the best, but I don't like the look of the bar setup. Doesn't suggest that price could move further away. Where as if you look at the previous BEOB from Thursday I think it was. The bullish bar was small and the BEOB was quite a lot larger, which for me suggested momentum and further moves down.

It's all a matter of opinion.
I see.
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  • #103,327
  • Oct 20, 2011 7:13am Oct 20, 2011 7:13am
Maybe Jarroo would use both of these areas?
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  • #103,328
  • Oct 20, 2011 8:04am Oct 20, 2011 8:04am
Quoting Pinbar
Maybe Jarroo would use both of these areas?

Those are good levels, Pb . .my only concern is that Price is in the middle of everything. I would like to see Price at the major swing points in blue and even the area in yellow.

Where Price is now . .in the middle of consolidation . .can get too choppy and unpredictable.
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Indicators show the past. Price Action "Indicates" the future.
  • #103,329
  • Oct 20, 2011 8:20am Oct 20, 2011 8:20am
Quoting jarroo
Those are good levels, Pb . .my only concern is that Price is in the middle of everything. I would like to see Price at the major swing points in blue and even the area in yellow.

Where Price is now . .in the middle of consolidation . .can get too choppy and unpredictable.

I agree totally with the In the middle of everything

I remember J16 saying, we want to trade off the top and bottoms and forget the bit in the middle, or something like that.
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  • #103,330
  • Oct 20, 2011 8:30am Oct 20, 2011 8:30am
Quoting Pinbar
I agree totally with the In the middle of everything

I remember J16 saying, we want to trade off the top and bottoms and forget the bit in the middle, or something like that.

Yes, that's correct. .When Price breaks away from the major swing points or PBT&CAorB . .they are more likely to run in either direction
Indicators show the past. Price Action "Indicates" the future.
  • #103,331
  • Oct 20, 2011 8:30am Oct 20, 2011 8:30am
I am in this with 50 pip stop. Lets see how it goes.
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  • #103,332
  • Oct 20, 2011 8:45am Oct 20, 2011 8:45am
Quoting Lanes110
I am in this with 50 pip stop. Lets see how it goes.
Hey Lanes

Be careful with these. Remember we want to look for pinbars at nice clean swing highs. Notice this one is not at a swing high and we are in consolidation. These can be very very tricky

Best
Mike
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  • #103,333
  • Oct 20, 2011 9:06am Oct 20, 2011 9:06am
Quoting mbqb11
Hey Lanes

Be careful with these. Remember we want to look for pinbars at nice clean swing highs. Notice this one is not at a swing high and we are in consolidation. These can be very very tricky

Best
Mike
just another view....

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Hero calls followed by margin calls...
  • #103,334
  • Oct 20, 2011 9:10am Oct 20, 2011 9:10am
Quoting PhAnTi'
just another view....

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yep nice P

Any way you draw it, price is definitely consolidating(has been for awhile on this pair). Just take note of this guys when you take stuff as it will be more likely to continue to "chop" until proven otherwise. At least that's my motto



Mike
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  • #103,335
  • Oct 20, 2011 9:53am Oct 20, 2011 9:53am
i have few questions - how do you manage your trades? how quick You put stop @ breakeven? Do You downscale at certain levels or add to Your trade in case price breaks them? Thank you
all is eternal - this is good news for people who loves bad news
  • #103,336
  • Edited 9:57am Oct 20, 2011 9:56am | Edited 9:57am
Does someone have an indicator that alerts if a candle ''closes'' abovebelow a line I have drawn on the chart. The alert should also be sent via e-mail.

Please send me a private message if you have this indicator. I dont want your reply to be lost in this forum. I appreciate your help.
  • #103,337
  • Oct 20, 2011 10:04am Oct 20, 2011 10:04am
Quoting torontobboy2
Does someone have an indicator that alerts if a candle ''closes'' abovebelow a line I have drawn on the chart. The alert should also be sent via e-mail.

Please send me a private message if you have this indicator. I dont want your reply to be lost in this forum. I appreciate your help.
here ya go bud

Best
Mike
Attached File(s)
File Type: mq4 Price Close Alert(2).mq4   2 KB | 508 downloads
  • #103,338
  • Oct 20, 2011 10:05am Oct 20, 2011 10:05am
Quoting meshka
i have few questions - how do you manage your trades? how quick You put stop @ breakeven? Do You downscale at certain levels or add to Your trade in case price breaks them? Thank you
Hey Meshka

Like entries exits are a very personal thing. You will see a wide variety of people managing there trades differently.

Here is a post from yesterday about the same type of thing.

http://www.forexfactory.com/showthre...34#post5054034
Best
Mike
  • #103,339
  • Oct 20, 2011 10:18am Oct 20, 2011 10:18am
Just watching the AUDCHF daily chart at the moment.

http://www.forexfactory.com/attachme...8&d=1319098834

The setup I mentioned this morning in my post here is doing ok. I didn't take it for the reasons I mentioned I the post, but I suppose if you are a touch trader, then it may have been a pretty good setup for you. Personally I've never touch traded, so I wouldn't know what your entry criteria would be.

Quite a boring day for me in terms of new trades...i.e. there ain't none

See what tomorrow brings.
  • #103,340
  • Oct 20, 2011 10:22am Oct 20, 2011 10:22am
Quoting picon1
Just watching the AUDCHF daily chart at the moment.

http://www.forexfactory.com/attachme...8&d=1319098834

The setup I mentioned this morning in my post here is doing ok. I didn't take it for the reasons I mentioned I the post, but I suppose if you are a touch trader, then it may have been a pretty good setup for you. Personally I've never touch traded, so I wouldn't know what your entry criteria would be.

Quite a boring day...
well imho touch trades offers awesome r:r conditions while we dont have any confirmation of reversal etc...

trickie trading but i like it and i use it

Jonas
Hero calls followed by margin calls...
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