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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

  • #125,901
  • Jun 4, 2013 6:17pm Jun 4, 2013 6:17pm
Quoting Pinbar
We may see a nice hourly rejection of this area and possibly an SFP. {image} {image}
Euro maybe plotting an uptrend to Break Out of that bigger story, Steve.
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Indicators show the past. Price Action "Indicates" the future.
  • #125,902
  • Jun 4, 2013 6:28pm Jun 4, 2013 6:28pm
Quoting gasgas
Any Jaroo-ers took that one yesterday? It was 300pip worth beauty and i didnt get filled. Had pending a little to low +big spread Perfect reaction on 1.88 and shoot up. {image}

..that was a nice one gasgas ..

That past Dual Action HCR level . (two HCR levels that line up at the same level, pretty close) . .worked out nicely too . . a couple of Lows of the Day . .

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #125,903
  • Jun 5, 2013 1:18am Jun 5, 2013 1:18am
Weekly EURNZD and Daily charts.

is this good for long. BUOVB and trendline break.

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"Taking Responsibility is The Cornerstone of A Winning Attitude"
  • #125,904
  • Jun 5, 2013 1:40am Jun 5, 2013 1:40am
Quoting jarroo
{quote} {quote} 2013 GbpNzd- 2012 GbpAud (5-13-13) . .two parts . . . http://rapidshare.com/files/32976822...20part%201.wmv http://rapidshare.com/files/60744078...20part%202.wmv Jim

@JARROO: Thanks for the videos ... good stuff

A question regarding what I saw in there ... was this a script you've set up that automatically draws your D HCR, D LCS, W HCR, W LCS, etc. levels or better format them in the correct color and add the label? How did you do this? Is there some template you can share?


Thanks a lot!

Best Regards,

T
  • #125,905
  • Jun 5, 2013 2:02am Jun 5, 2013 2:02am
Quoting jarroo
{quote} Euro maybe plotting an uptrend to Break Out of that bigger story, Steve. {image} {image}
Yes Jim, looks like that monthly BUEOB may come back into play.
  • #125,906
  • Jun 5, 2013 2:18am Jun 5, 2013 2:18am
Quoting Libra
Weekly EURNZD and Daily charts. is this good for long. BUOVB and trendline break. {image} {image}
Hey Libra, this is great level were at right now. a good place to look for PA. but be carefull with bars like that, we generally want bullish PA at swing lows. I dont think that bar is stricktly a BUOB either. personally am waiting for something stronger.

jon
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PATIENCE... DISCIPLINE
  • #125,907
  • Jun 5, 2013 2:44am Jun 5, 2013 2:44am
Quoting jarroo
{quote} Here's how I see it GiovanniV. I see the 99.50 as a very strong confluenced level (chart 1) . . .and Price could not close below the 99.50 on the Daily , confirming that it flipped to strong Support. (chart 2), The Daily IB maybe the PA formation for more upward movement if it breaks to the upside. Although a BUOB or a Bullish PB would have been a stronger PA formation to give this pair a stronger Bullish Bias. The IB is at a good location . .could go either away but I like the upside. Jim {image} {image}
Hi Jarro,
99.50 perfetc confluence!
http://i1243.photobucket.com/albums/...ps250618b7.jpg
  • #125,908
  • Jun 5, 2013 2:56am Jun 5, 2013 2:56am
Hi,
I have a question - would you consider this dji futures beob an A+ setup?

There is a monthly pivot 4 pips below 4-06 low (candle I'm talking about is the one before last visible, yet unclosed candle), but still it would be above an entry point. I also marked a minior daily support with a blue line - it also sits above my potential entry point. I see it being free run down to 14821 - another daily support. There is Non-farm payroll release today, but apart from that I don'tfeel this trade right. Like a gut feeling. any comments?
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There's always a bounce...
  • #125,909
  • Jun 5, 2013 3:17am Jun 5, 2013 3:17am
Mike & Jarro,
I preferred not to enter the DB because of traffic and excessive SL.
what do you think? you would have found an alternative?
http://i1243.photobucket.com/albums/...ps47e3dfca.jpg
  • #125,910
  • Jun 5, 2013 4:00am Jun 5, 2013 4:00am
Quoting WaitForIt...
Hi, I have a question - would you consider this dji futures beob an A+ setup? There is a monthly pivot 4 pips below 4-06 low (candle I'm talking about is the one before last visible, yet unclosed candle), but still it would be above an entry point. I also marked a minior daily support with a blue line - it also sits above my potential entry point. I see it being free run down to 14821 - another daily support. There is Non-farm payroll release today, but apart from that I don'tfeel this trade right. Like a gut feeling. any comments? {image}
Hi mate, for a BEOB to be as per J16 style it should close below the previous candle. Also imo for them to be an A+ set up they should be at a swing high.

hope this helps

jon
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PATIENCE... DISCIPLINE
  • #125,911
  • Jun 5, 2013 6:12am Jun 5, 2013 6:12am
AUDJPY trade - I opened it yesterday, closed few minutes ago...fast profit...Sell a little below 97.00 at pullback after PBT&CB...I like this LCS/HCR very much...beautiful, tested many times...we have also weekly and monthly high and low at this lvl...I closed trade near BRN, a little above 95...
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  • #125,912
  • Jun 5, 2013 6:30am Jun 5, 2013 6:30am
cadchf
http://i1243.photobucket.com/albums/...ps195a40c8.jpg
http://i1243.photobucket.com/albums/...psbe0a9d2e.jpg
http://i1243.photobucket.com/albums/...psacdcc722.jpg
http://i1243.photobucket.com/albums/...ps10fadc32.jpg
  • #125,913
  • Jun 5, 2013 6:39am Jun 5, 2013 6:39am
Quoting Mav13
Hi all, hereīs new trade Iīm currently in. Itīs EURZAR...
Hi, a small update on my EURZAR trade, I closed it yesterday on close, there was relatively big pin bar in opposite direction so I took my profit.

Mav
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  • #125,914
  • Jun 5, 2013 6:45am Jun 5, 2013 6:45am
Heads up...GB/CAD, 1H chart

DBL IB engulfed (for now, 20 mins till close of 1H bar) with BEOB, comin off the RN 1.5900 to the pip. downside is the spread and close FTA...

jon
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PATIENCE... DISCIPLINE
  • #125,915
  • Jun 5, 2013 8:36am Jun 5, 2013 8:36am
Quoting Libra
Weekly EURNZD and Daily charts. is this good for long. BUOVB and trendline break. {image} {image}
Hey Libra

Be careful here remember we want to look for BUOBs down at swing lows. This is way up high at a swing high point. It can be tempting but buying that new high based on just this info is very difficult and can lead to tough management of such a trade without more confluence

Best
Mike
  • #125,916
  • Jun 5, 2013 8:38am Jun 5, 2013 8:38am
Quoting Mav13
{quote} Hi, a small update on my EURZAR trade, I closed it yesterday on close, there was relatively big pin bar in opposite direction so I took my profit. Mav {image}
yep, wise decision imo.
mine got closed too, at be.
I was thinking opening a long position yesterday, targeting the bottom of the short PB we played, while keeping my short open with a sl a bit higher than be, but I always mess things with high spread, and I was out
Nice trade though, I took 50% off at 12.55 so nice (virtual) profit.

take care
Slow & steady
  • #125,917
  • Jun 5, 2013 9:07am Jun 5, 2013 9:07am
Quoting WaitForIt...
Hi, I have a question - would you consider this dji futures beob an A+ setup? There is a monthly pivot 4 pips below 4-06 low (candle I'm talking about is the one before last visible, yet unclosed candle), but still it would be above an entry point. I also marked a minior daily support with a blue line - it also sits above my potential entry point. I see it being free run down to 14821 - another daily support. There is Non-farm payroll release today, but apart from that I don'tfeel this trade right. Like a gut feeling. any comments? {image}
Hey Wait for it

That bar is not at a swing high where want to look for beobs so not the ideal location when starting out. Also the bar is more neutralish in my eyes since the open and close are near the middle of the bar with "tails" of equal length sticking out. I'd say a break will see 15000 most likely but not the best of bars as you said

Best
Mike
  • #125,918
  • Jun 5, 2013 9:12am Jun 5, 2013 9:12am
Quoting GiovanniV
Mike & Jarro, I preferred not to enter the DB because of traffic and excessive SL. what do you think? you would have found an alternative? {image}
Hey G

That's not a double bottom for me since price is so close together. For me a double bottom you want to see price create good swing points. But your wedge is something I am watching closely. Notice how the BRN runs right through the midpoint of the wedge acting as the ppz as well

I'll watch closely the outside TLs for PA for a breakout. It's winding up so tight it could just 'pop' though

Best
Mike
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  • #125,919
  • Jun 5, 2013 9:13am Jun 5, 2013 9:13am
Quoting g_j_hook@yah
{quote} Hi mate, for a BEOB to be as per J16 style it should close below the previous candle. Also imo for them to be an A+ set up they should be at a swing high. hope this helps jon {image}
Hey Jon


Just to clarify for the new folks a beob doesn't technically have to close below the previous bar. It must have a lower low than the previous bar and a close near the bottom portion. This is often a close still within the previous bar. I personally like you prefer that strong close like your example above. Just another aspect to keep picky

Thanks for helping out
Mike
  • #125,920
  • Jun 5, 2013 9:48am Jun 5, 2013 9:48am
This pinbar on the ftse 10 days ago worked out well.
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