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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

  • #124,401
  • Apr 4, 2013 3:11am Apr 4, 2013 3:11am
Quoting vickym
Hi Jim, Could you point me to an explaination about hourly signatures? Thanks Vicky
Here you go vickym . .check out this post and the few posts that followed it.

Let me know if that helped ..

Jim


Quoting jarroo
Hey Peter . .let' s see if I can go over this by using Kaykay's charts and questions . .by the away, great trades and targets Kay Kay . .excellent . What I call "Signatures" is just a way of confirming if a level is either Support or Resistance by which Price cannot close above or below it on a given Time Frame. If we have a level and Price cannot Close above it on the Hourly we would say that this level is acting as Resistance on the Hourly. . .Bearish Hourly Signature. just the opposite for Support .. . If we have a level and Price...
Indicators show the past. Price Action "Indicates" the future.
  • #124,402
  • Apr 4, 2013 3:14am Apr 4, 2013 3:14am
Quoting ghous
I really got hooked to SFPs after Tom first mentioned them. It brought a multitude of concepts, including those that I read about on orderflow threads together for me. The torch got ignited. g.

Yeah, that is what I meant about the liquidity.
Something, clicked and I remembered all those times I ha entered a trade for it to reverse on me immediately after going 5 pips.
  • #124,403
  • Apr 4, 2013 3:17am Apr 4, 2013 3:17am
Jim's level seems to be holding.

With that small monthly BEOB, it is very interesting watching this play out.

Damn slippage got me in late though.
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  • #124,404
  • Apr 4, 2013 3:19am Apr 4, 2013 3:19am
Quoting ghous
I really got hooked to SFPs after Tom first mentioned them. It brought a multitude of concepts, including those that I read about on orderflow threads together for me. The torch got ignited. g.
I hear you, g.

Take this example on the EurNzd . .PBT&CB a nice LCS level in Consolidation . .

wow, when Price ret. once PBT&CB the LCS it really didn't act as Resistance . .I wonder why?? (chart 1)


That's why . . bullish SFPs were heading at me . .lol (chart 2)
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Indicators show the past. Price Action "Indicates" the future.
  • #124,405
  • Apr 4, 2013 3:23am Apr 4, 2013 3:23am
Quoting jarroo
I hear you, g. Take this example on the EurNzd . .PBT&CB a nice LCS level . . wow, when Price ret. once PBT&CB the LCS it really didn't act as Resistance . .I wonder why?? (chart 1) That's why . . bullish SFPs were heading at me . .lol (chart 2) {image} {image}

But Jim, this clarifies why you use the low of the daily bar that PBT&CB for the target!
  • #124,406
  • Apr 4, 2013 3:27am Apr 4, 2013 3:27am
Quoting Pinbar
But Jim, this clarifies why you use the low of the daily bar that PBT&CB for the target!
ABSOLUTELY!! . . .

That was an AHHH!! moment too. brought about from SFPs.
Indicators show the past. Price Action "Indicates" the future.
  • #124,407
  • Apr 4, 2013 3:30am Apr 4, 2013 3:30am
Quoting jarroo
ABSOLUTELY!! . . . That was an AHHH!! moment too. brought about from SFPs.
And your level.

You know, if I am totally honest, the lows below the LCS always terrified me. LOL

Now, they are another tool.
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  • #124,408
  • Apr 4, 2013 3:35am Apr 4, 2013 3:35am
Quoting Pinbar
And your level. You know, if I am totally honest, the lows below the LCS always terrified me. LOL Now, they are another tool. {image}

Yes a great confluencing tool . .a great bias indication . and a great method in and of itself . .
Indicators show the past. Price Action "Indicates" the future.
  • #124,409
  • Apr 4, 2013 3:37am Apr 4, 2013 3:37am
Quoting Pinbar
And your level. You know, if I am totally honest, the lows below the LCS always terrified me. LOL Now, they are another tool. {image}

Another name for Pin Bars that are at Swing Highs and at Swing Lows . .is a SFP.

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Indicators show the past. Price Action "Indicates" the future.
  • #124,410
  • Apr 4, 2013 3:39am Apr 4, 2013 3:39am
Quoting jarroo
Another name for Pin Bars that are at Swing Highs and at Swing Lows . .is a SFP.
So, we can use the break of a SFP and the bullish PA at a SH as a continuation scenario?
Really interesting stuff.
  • #124,411
  • Apr 4, 2013 3:43am Apr 4, 2013 3:43am
Quoting Pinbar
So, we can use the break of a SFP and the bullish PA at a SH as a continuation scenario? Really interesting stuff.

Yes, we are looking at that too . .when SFPs Fail . .
Indicators show the past. Price Action "Indicates" the future.
  • #124,412
  • Apr 4, 2013 3:47am Apr 4, 2013 3:47am
Got to go . . . later . .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #124,413
  • Apr 4, 2013 3:50am Apr 4, 2013 3:50am
Quoting jarroo
Another name for Pin Bars that are at Swing Highs and at Swing Lows . .is a SFP. {image}
Is SFP essentailly the same thing as a fakey, if I understand it correctly, it looks to be the same dynamic playing out, that is, big guys need the liquidity to offload big position so create these traps, which they can easily buy into all the stop orders being executed or visa versa.
  • #124,414
  • Apr 4, 2013 3:53am Apr 4, 2013 3:53am
Quoting jaypatel33
Is SFP essentailly the same thing as a fakey, if I understand it correctly, it looks to be the same dynamic playing out, that is, big guys need the liquidity to offload big position so create these traps, which they can easily buy into all the stop orders being executed or visa versa.
Yes . .you nailed it, jay . .

Later,

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #124,415
  • Edited 4:31am Apr 4, 2013 3:59am | Edited 4:31am
Quoting jarroo
I hear you, g. Take this example on the EurNzd . .PBT&CB a nice LCS level in Consolidation . . wow, when Price ret. once PBT&CB the LCS it really didn't act as Resistance . .I wonder why?? (chart 1) That's why . . bullish SFPs were heading at me . .lol (chart 2) {image} {image}
Nice example.

The consolidation box was building up pretty heavy, there was this weekend "damn you gap" that I am sure was needing to be filled before price broke through as a "breakout".

g.
I believe . . .
  • #124,416
  • Apr 4, 2013 4:03am Apr 4, 2013 4:03am
Quoting jarroo
Another name for Pin Bars that are at Swing Highs and at Swing Lows . .is a SFP. {image}
Oh yeah! Some of the best pin bars are often SFP formations too.

In the given context I can't help thinking about USD/CHF daily bullish pin bar. Not the strongest of pin bars shape wise with that bearish close, but was that a beauty of an SFP or what?!

g.
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I believe . . .
  • #124,417
  • Apr 4, 2013 4:23am Apr 4, 2013 4:23am
Quoting Pinbar
So, we can use the break of a SFP and the bullish PA at a SH as a continuation scenario? Really interesting stuff.
In that case, I would be requiring a nice hard break of the SH, one of the BAMMMs of the PBT&CA/B setups. like the ones you get after prolonged consolidation/boxing price action.

Yesterday I was sharing with someone why I kind of get really nervous when price instead of breaking out tends to "hang about and do nothing". An eery feeling I know has its roots in the way I extensively look at swing points as potential reversal points (fading opportunities) rather than breakouts of them.

The chart on discussion was EUR/GBP daily. We had a BEOB heading straight for the LCS. we also had a PBT&CB the LCS and in perspective of Steve's post above, we even had a close beyond the LLS. It had short written all over it.

However as things unfolded, notice how price trickles down the LCS (or the BEOB or the LLS - depending on the kind of short setup you're looking at) and "does nothing".

At such a major Swing low (and if Jarroo still remembers it, the "lone wolf" ) when price shows no intentions of being serious about breaking the level, you need to take a step back. There simply was a lack of interest from the bears used extensively by the bulls to get in on a "discount entry".

Just extending from your idea of taking break of SFPs as a continuation signal Steve.

g.
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I believe . . .
  • #124,418
  • Apr 4, 2013 4:29am Apr 4, 2013 4:29am
Quoting ghous
In that case, I would be requiring a nice hard break of the SH, one of the BAMMMs of the PBT&CA/B setups. like the ones you get after prolonged consolidation/boxing price action. Yesterday I was sharing with someone why I kind of get really nervous when price instead of breaking out tends to "hang about and do nothing". An eery feeling I know has its roots in the way I extensively look at swing points as potential reversal points (fading opportunities) rather than breakouts of them. The chart on discussion was EUR/GBP daily. We had a BEOB heading...
This, I am sure jarroo and steve would agree, is more like an area you are more interested in taking a breakout from as opposed to an SFP.

Nice solid prolonged consolidation, leading to the coke bursting out of the bottle and spilling all over a pipping party. lol

As Mike puts it, its all about the story.

g.
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I believe . . .
  • #124,419
  • Apr 4, 2013 4:30am Apr 4, 2013 4:30am
Quoting Pinbar
Example of a Swing Point Being Respected and how Jarroo's level not only kept us out after price violated the HCR but tipped us off with the hourly signature and the IB. {image} {image}
hello pinbar, i have a qestion for you or anybody that feels like answering....what is a swing point rejection,how should it be played and how is it different from a swing failure patter.thanks in advance........
  • #124,420
  • Apr 4, 2013 4:35am Apr 4, 2013 4:35am
Quoting ghous
In that case, I would be requiring a nice hard break of the SH, one of the BAMMMs of the PBT&CA/B setups. like the ones you get after prolonged consolidation/boxing price action. Yesterday I was sharing with someone why I kind of get really nervous when price instead of breaking out tends to "hang about and do nothing". An eery feeling I know has its roots in the way I extensively look at swing points as potential reversal points (fading opportunities) rather than breakouts of them. The chart on discussion was EUR/GBP daily. We had a BEOB heading...

Thanks Ghous

Great explanation of price breaking and closing below a level but obviously no momentum.
I imagine we need a much deeper penetration and a pullback to convince most people to part with their money?

This one is similar.
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