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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

  • #109,821
  • Edited 11:02am Apr 4, 2012 7:26am | Edited 11:02am
Quoting Magestic
Please give me some advise on that one.
Lot of us were watching this for a long period of time. I would like PA down after retrace back to 85.00 level. But during the BO we had FTA at 84.50. Is it valid if price will show PA down on 84,50, or it would be better to wait until 85.00? Whats are pros view? I'm confused.
Hey man ,
I am watching this very closely . On your feed there is already a pinbar-shape bearish bar , which shows rejection of 85.00 . A little confirmation that 85.00 is now acting as resistance .
Other question - in my opinion is WAY better to watch PA TESTING the 85.00 . This is our major and important level .
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  • #109,822
  • Apr 4, 2012 7:27am Apr 4, 2012 7:27am
Quoting -er-
thise one looks ok also not best sr but nevertheless.

Take a look at this chart and note the horizontal lines on the PA.

Any PA setups that are taught here are only validated by the fact that they actually break.
The horizontal line is actually the buffer, where we enter the trade, which as you can see, is 10-15 pips after the bar breaks, on the daily TF.

Hope this helps.
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  • #109,823
  • Apr 4, 2012 7:30am Apr 4, 2012 7:30am
Quoting Rust
Hey man ,
I am watching this very closely . On your feed there is already a pinbar shape bearish bar , which shows rejection of 85.00 . A little confirmation that 85.00 is now acting as resistance .
Other question - in my opinion is WAY better to watch PA TESTING the 85.00 . This is our major and important level .
LCS tend to fail at supports turned resistance.... here 85.00 might be resistance now...

lets c
Hero calls followed by margin calls...
  • #109,824
  • Apr 4, 2012 7:38am Apr 4, 2012 7:38am
Question regarding bullish outside bars and bearish outside bars:

I know they're called engulfing bars, but does it matter where the price closes as long as the high/low engulfs the previous bar? or does it matter if the price closes within the range of the previous bar?

pics:
edit: these are all current daily bars
http://www.forexfactory.com/attachme...1&d=1333543221
  • #109,825
  • Apr 4, 2012 7:44am Apr 4, 2012 7:44am
Quoting Rust
Hey man ,
On your feed there is already a pinbar shape bearish bar , which shows rejection of 85.00
Hmm, never thought of that as a pinbar...

Quoting PhAnTi'
LCS tend to fail at supports turned resistance.... here 85.00 might be resistance now...

lets c
Sorry, can you explain a little bit more. "Lower close support tend to fail at supports turned resistance" how does that look like on the chart, if I don't bother you. Saw your charts earlier but still cant get it :-(
If not up, then down, otherwise sideways :-)
  • #109,826
  • Apr 4, 2012 7:49am Apr 4, 2012 7:49am
Quoting jarroo
Excellent I would have take this one the .9986 as well.

Stop looking at those levels so far back . . lolol . .you can't help yourself can you . .lol

My chart doesn't show those level on purpose . . .stay recent ..

Notice how reactive these levels were . .nice . .

Nice one Jim.
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  • #109,827
  • Apr 4, 2012 7:52am Apr 4, 2012 7:52am
Quoting -er-
I really think you should be reading post #1 and working from there. you'll do much better that way.
  • #109,828
  • Apr 4, 2012 7:52am Apr 4, 2012 7:52am
Quoting 4tiger
Question regarding bullish outside bars and bearish outside bars:

I know they're called engulfing bars, but does it matter where the price closes as long as the high/low engulfs the previous bar? or does it matter if the price closes within the range of the previous bar?

pics:
edit: these are all current daily bars
http://www.forexfactory.com/attachme...1&d=1333543221

The close of a BUEOB should be towards the end of the bar, not in the middle of the bar but, as you say, it does not have to close outside the previous bar. A DBLHC bar, Must close completely outside the high of the previous bar. These two always seem to confuse people.
  • #109,829
  • Apr 4, 2012 7:53am Apr 4, 2012 7:53am
Quoting 4tiger
Question regarding bullish outside bars and bearish outside bars:

I know they're called engulfing bars, but does it matter where the price closes as long as the high/low engulfs the previous bar? or does it matter if the price closes within the range of the previous bar?

pics:
edit: these are all current daily bars
http://www.forexfactory.com/attachme...1&d=1333543221
I like to see price close above/below the open and close of the previous bar.
  • #109,830
  • Apr 4, 2012 7:59am Apr 4, 2012 7:59am
Quoting utiq
All hello, I from Russia therefore excuse for my English

What think about this bar? it has chances?

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Welcome Utiq

I am not sure what pair that is so I can't check out it myself, but yes based on your chart price cuold be retracing on that beob before breaking down. It's not a confirmed bar till it breaks but a retrace entry can often give you a better price

Welcome again and your english is just fine

Mike
  • #109,831
  • Edited 8:31am Apr 4, 2012 8:01am | Edited 8:31am
Quoting mazdaq100
I like to see price close above/below the open and close of the previous bar.
That does seem safer! I wasn't sure so the only trade I took live was the USDJPY pair.

Quoting Pinbar
The close of a BUEOB should be towards the end of the bar, not in the middle of the bar but, as you say, it does not have to close outside the previous bar. A DBLHC bar, Must close completely outside the high of the previous bar. These two always seem to confuse people.
Cool. Just sort of visualizing a DBLHC with a close inside the previous bar... I see a pin bar! hahah.

Thanks yall.

edit:
woops there was supposed to be a picture attached to my previous post:
just a thought, the BEOB and BUOB on the EURUSD and USDCHF charts... don't they look like weak pin bars? but the price went with the BEOB and BUOB indicators.

I guess real pinbars should close above the open (green) to be bullish, and close below the open (red) to be bearish.

On the USDCHF chart, I did not see the BUOB as a pin bar because the .9000 BRN is right below it. A real pin bar should have a nose at a BRN and not the pin bar's other end.

on the daily charts:
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  • #109,832
  • Apr 4, 2012 9:12am Apr 4, 2012 9:12am
Quoting Magestic
Hmm, never thought of that as a pinbar...
Technically it's not . But the point here is the reaction - price went to a level , tested it , and rejected . It's slightly more advanced concept . If it's too much , forget it and stick to the original stuff !
  • #109,833
  • Apr 4, 2012 10:35am Apr 4, 2012 10:35am
its cloding in about 25 min
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Iam just A pips on the rode :nerd:
  • #109,834
  • Apr 4, 2012 10:47am Apr 4, 2012 10:47am
thise one to.
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Iam just A pips on the rode :nerd:
  • #109,835
  • Apr 4, 2012 11:17am Apr 4, 2012 11:17am
Quoting Rust
Technically it's not . But the point here is the reaction - price went to a level , tested it , and rejected . It's slightly more advanced concept . If it's too much , forget it and stick to the original stuff !
This is a wonderful hint, thanks
If not up, then down, otherwise sideways :-)
  • #109,836
  • Edited Apr 5, 2012 5:16am Apr 4, 2012 12:58pm | Edited Apr 5, 2012 5:16am
Quoting mbqb11
Welcome Utiq

I am not sure what pair that is so I can't check out it myself, but yes based on your chart price cuold be retracing on that beob before breaking down. It's not a confirmed bar till it breaks but a retrace entry can often give you a better price

Welcome again and your english is just fine

Mike

Thanks for the answer Mike.

It is cad/jpy
confuses that the price can't punch it. Or it is normal?
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  • #109,837
  • Apr 4, 2012 1:36pm Apr 4, 2012 1:36pm
Quoting utiq
Thanks for the answer Mike.

It is cad/jpy
confuses that the price can't punch it. Or it is normal?
Attachment
Hey U

Yep this can be very normal. A lot of good Outside bars retrace before moving in the proper direction. It's part of an entry technique many people like James use to catch a retrace entry. Doesn't mean it will break, but they often do retrace. I like to wait for a break most of the time to confirm the bar.

I think we are headed lower, let's see

Mike
  • #109,838
  • Apr 4, 2012 2:12pm Apr 4, 2012 2:12pm
Quoting mbqb11
Hey U

Yep this can be very normal. A lot of good Outside bars retrace before moving in the proper direction. It's part of an entry technique many people like James use to catch a retrace entry. Doesn't mean it will break, but they often do retrace. I like to wait for a break most of the time to confirm the bar.

I think we are headed lower, let's see

Mike
Raczekfx would nod in agreement I am sure.

We have his "third touch of the RTL" going.

g.
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I believe . . .
  • #109,839
  • Apr 4, 2012 2:57pm Apr 4, 2012 2:57pm
question for mike but not only:

when we draw boxes, the top or the bottom must be formed by higs/lows which all touch the respective level? or to put it another way do we need pin point accuracy or the top/bottom are where most of the higs/lows are with some pips difference?

i will rephrase if i didn't make myself clear
thanks!
  • #109,840
  • Apr 4, 2012 3:10pm Apr 4, 2012 3:10pm
Quoting heaven
question for mike but not only:

when we draw boxes, the top or the bottom must be formed by higs/lows which all touch the respective level? or to put it another way do we need pin point accuracy or the top/bottom are where most of the higs/lows are with some pips difference?

i will rephrase if i didn't make myself clear
thanks!
Boxes are a visual thing . They represent price consolidating in a range. They exist no matter if drown both ways . BUT if you want to play a breakout of a box , be sure that you have multiple CLEAR confirmations of whats the exact top/bottom of the box IF you have confluence of the box top/bottom with a big round number or a PPZ , the better !

This is how i see it . I suppose Mike will shed some more light , also
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