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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

  • #105,901
  • Jan 14, 2012 11:19am Jan 14, 2012 11:19am
Quoting mbqb11
hahahaha I hope he takes down them Pats, that will really make me feel good


Thanks buddy

Mike

Hell ya . .that will shake up the world . .lol
Indicators show the past. Price Action "Indicates" the future.
  • #105,902
  • Jan 14, 2012 11:19am Jan 14, 2012 11:19am
Quoting Gekko78
Just wanted to take a minute to say thanks for everything you guys do here. I have learned quite a bit from this thread. I appreciate it and I know sometimes we can all get caught up with what we "expect". The truth is I am sure that all of you have other things you could be doing then posting all this stuff for us , especially us newbies, so thanks again!
We got a cool bunch that hang out here all set by the standards of james himself. I assure you the appreciation and seeing progress in others makes it fun as hell. And the interaction with great people makes it really worth it for me.

Enjoy the weekend G

Mike
  • #105,903
  • Edited 12:03pm Jan 14, 2012 11:41am | Edited 12:03pm
Quoting Lapin
Continuing in trying to assess how much I have learned reading the thread, here is EUR/GBP.

On the weekly TF, I can see there is the LCS which also coincide with the BRN 0.83. Is it a valid LCS?

If yes, then I would hope to see a bearish PA at this level on the daily to go bearish...

Is it a correct reasoning?
That is absolutely correct Lapin . .on the Weekly LCS and to look for that .8300-.8295 level to act as Resistance. Brearish PA on a lower TF would be good confirmation that the level is indeed Resistance.

Many times, if there isn't any clear bearish PA and Price hits that level of Resistance and doesn't . . .Bam! . . downward . .there is a good chance that Price will Close above this level and return to its previous Support . . . .which it did breifly on the 4 Hour and Hourly.

Playing PBT&CAorB on the lower TFs can be very effective at these higher TF levels . . but PA confirmation is always the best . .isn't it always . .

But as the Week closed . .we can see that this level did act as Resistance . .no close above the .8300 on the weekly..

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #105,904
  • Jan 14, 2012 11:59am Jan 14, 2012 11:59am
Quoting Pinbar
Hay Lapin

You are doing great and welcome.

I always like to take a look at the Monthly as well as the weekly to get the big picture.

On the monthly we can see that price is just about to test this minor swing point, but on the monthly even a minor SP can be strong.

That level on the Monthly (in green) is not at a swing point, let alone a deep swing point. Don't get me wrong, it can still be reactive. It is after all, a Monthly level . .

Got love that Monthly chart that Donkey posted . .

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #105,905
  • Jan 14, 2012 1:07pm Jan 14, 2012 1:07pm
Quoting mbqb11
Hey Pin

Feeling a lot better today, was bad let me tell ya lol Cross that place off my list

I did not take that 1hr pinbar, but did see your first post about it as well. It sure was at a nice location. I was more watching the pattern from a daily/4hr perspective and mostly for a breakout. Since we are consolidating down to a "point" now that makes me always want to be trading away as opposed to within. That does not make that trade valid, in fact a very good highly confluenced trade. For me it's more just my style . Hope someone caught...
Mike
Good week

Write us what your thoughts on snap/J CAD

I entered SHORT 75.22
I had doubts whether it's now at B/H or wait

Thanks in advance for reply

Sorry for my bad English
  • #105,906
  • Jan 14, 2012 2:26pm Jan 14, 2012 2:26pm
Quoting Yehuda Sh
Mike
Good week

Write us what your thoughts on snap/J CAD

I entered SHORT 75.22
I had doubts whether it's now at B/H or wait

Thanks in advance for reply

Sorry for my bad English
Hey Yehuda

I am still in the same mode as my first chart on this pair. I like the entry pinbar showed of the 1hr pinbar, but other than that to me this is wait mode. We are consolidating very TIGHT, so the more we are in the middle of that range the more likely for price to chop. I will watch when we get to the outside points of the pattern for a breakout out. Until then I will sit on my hands.

Have a great weekend too
Mike
  • #105,907
  • Jan 14, 2012 3:46pm Jan 14, 2012 3:46pm
Quoting jarroo
That is absolutely correct Lapin . .on the Weekly LCS and to look for that .8300-.8295 level to act as Resistance. Brearish PA on a lower TF would be good confirmation that the level is indeed Resistance.

Many times, if there isn't any clear bearish PA and Price hits that level of Resistance and doesn't . . .Bam! . . downward . .there is a good chance that Price will Close above this level and return to its previous Support . . . .which it did breifly on the 4 Hour and Hourly.

Playing PBT&CAorB on the lower TFs can be very effective at...
Pardon my ignorance but could you help me out with these abbreviations?

LCS
PBT&CAorB

Thanks
  • #105,908
  • Jan 14, 2012 4:40pm Jan 14, 2012 4:40pm
Quoting jarroo
That level on the Monthly (in green) is not at a swing point, let alone a deep swing point. Don't get me wrong, it can still be reactive. It is after all, a Monthly level . .

Got love that Monthly chart that Donkey posted . .

Jim

Jim, glad you caught that.

Yes, I see what you mean, I was looking at the move after the the close of that bar, rather than the swing down to the close of that bar.

Thanks for being on the ball there Jim. But you are always on the Ball.

Appreciate the input on the other charts.

Got to get ready for a uni visit.
  • #105,909
  • Jan 14, 2012 5:37pm Jan 14, 2012 5:37pm
Quoting bfis108137
Pardon my ignorance but could you help me out with these abbreviations?

LCS
PBT&CAorB

Thanks
You can click on Pinbar's signature links
  • #105,910
  • Jan 14, 2012 6:13pm Jan 14, 2012 6:13pm
Quoting bfis108137
Pardon my ignorance but could you help me out with these abbreviations?

LCS
PBT&CAorB

Thanks
PBT&CA= Price Breaks Through & closes Above or Below.

LCS= Lowest Close of Support.

Just in case you could not find the abbreviations list.
  • #105,911
  • Edited 7:30pm Jan 14, 2012 7:21pm | Edited 7:30pm
Hello All,

I was looking over Dailys this afternoon and I am wondering about this BEOB on the EUR/JPY. Is this a good one where it sits? How would you enter this? On a fib retracement or break below the candle/pin?

THX salvo

___OK I may have answered my own question. I looked over PinBar summary link. We actually look for engulfing bar on a reversal not a continuation. Is that correct?___
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  • #105,912
  • Edited 11:04pm Jan 14, 2012 10:53pm | Edited 11:04pm
Quoting bfis108137
Pardon my ignorance but could you help me out with these abbreviations?

LCS
PBT&CAorB

Thanks
Thanks Rust and Pinbar for your help.

Sorry about that bfsi, I should have explained the abbrevaitions on my chart better.


The common market dynamic of Support and Resistance levels are a universal one . .meaning, when we have an established Resistance level it will tend to stay as Resistance until Price breaks through it. Then Price will usually "flip" or transition to Support at that same level . .and vice versa.


Price Breaks Through & Closes Above or Below (PBT&CAorB) is away of confirming this "flip" or transition from Support to Resistance . .Resistance to Support.

The Highest Close of Resistance (HCR) and Lowest Close of Support (LCS) are levels I use to establish a Resistance level and a Support level, respectively.

PPZ levels, where Highs (Resistance) and Lows (Support) met, can also be use as established S/R levels.


(Chart)

Hope this helps

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #105,913
  • Jan 14, 2012 10:57pm Jan 14, 2012 10:57pm
Quoting Pinbar
Jim, glad you caught that.

Yes, I see what you mean, I was looking at the move after the the close of that bar, rather than the swing down to the close of that bar.

Thanks for being on the ball there Jim. But you are always on the Ball.

Appreciate the input on the other charts.

Got to get ready for a uni visit.
No problem Pinbar . . . .I dig your charts too.

Good luck at university . .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #105,914
  • Jan 15, 2012 12:12am Jan 15, 2012 12:12am
Hi All,


Attached is Dollar Index.

Is my identification of Outside bar correct?. I am a newbie to PA.
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  • #105,915
  • Jan 15, 2012 12:25am Jan 15, 2012 12:25am
Quoting zamfir
Hi All,


Attached is Dollar Index.

Is my identification of Outside bar correct?. I am a newbie to PA.
Yes that's correct zamfir, a BUllish Outside Bar (BUOB) in structure. But we want to see BUOBs at swing Lows. Bullish PA at swing Lows and Bearish PA like a BEarish Outside Bar (BEOB) at swing Highs.

The size and structure of PA are important, but what is more crucial is the Location of where they are formed.

Jim
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #105,916
  • Jan 15, 2012 1:06am Jan 15, 2012 1:06am
Quoting jarroo
Yes that's correct zamfir, a BUllish Outside Bar (BUOB) in structure. But we want to see BUOBs at swing Lows. Bullish PA at swing Lows and Bearish PA like a BEarish Outside Bar (BEOB) at swing Highs.

The size and structure of PA are important, but what is more crucial is the Location of where they are formed.

Jim
I understand location of PA is important. But i have seen on many charts that in a uptrend ,we have a Bullish Outside bar and we moved up.

Even on the weekly , we have Bullish OB which was formed last week and we went up this week.

attached is Weekly.

But the question is what does a BUOB mean when it occurs between a uptrend ?
Is it valid and is price going up ? Most charts i have studied show they continue the trend.

Can we consider it as a continution pattern?
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  • #105,917
  • Jan 15, 2012 4:27am Jan 15, 2012 4:27am
Quoting zamfir
I understand location of PA is important. But i have seen on many charts that in a uptrend ,we have a Bullish Outside bar and we moved up.

Even on the weekly , we have Bullish OB which was formed last week and we went up this week.

attached is Weekly.

But the question is what does a BUOB mean when it occurs between a uptrend ?
Is it valid and is price going up ? Most charts i have studied show they continue the trend.

Can we consider it as a continution pattern?
This how I see it... And yes for me personaly its a tradeable pattern. It is not on a swing low but is valid sign for continuation. Of course this is my personal view and doesnt represent official view of this thread

Edit: first line You should read BUOB breaks FROM INSIDE BAR... Damn GIMP
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all is eternal - this is good news for people who loves bad news
  • #105,918
  • Jan 15, 2012 7:52am Jan 15, 2012 7:52am
[quote=zamfir;5295899]I understand location of PA is important. But i have seen on many charts that in a uptrend ,we have a Bullish Outside bar and we moved up.


Yes it is valid that it may mean the price is still on the way up !!!

But till when ? Thats where we look at the left hand side of the chart to recognize the FTA ( first trouble area) and PPZ along with the exit strategies in place when we manage our trades, since the up or down trades never go one straight trend line we always have a second bite at the cherry managing the trade right.

Please note when trend is still up and you have BUOB on swing high doesnt mean price is still going up the next bar , it may hang about in consolidation box before the next move up or down .

Hope this helps... Thats why Jaroo's teaching of zones are important to grasp..

Best V
  • #105,919
  • Jan 15, 2012 8:16am Jan 15, 2012 8:16am
Could someone check my analysis? would be much appreciated.
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  • #105,920
  • Jan 15, 2012 8:23am Jan 15, 2012 8:23am
Just a larger picture of the pinbar.
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