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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

  • #135,921
  • Jul 14, 2015 8:24am Jul 14, 2015 8:24am
Quoting alphac
UCAD 4HR, it will depend on your definition of an outside bar whether you'd take a trade here, if you did you'd want to take notice of the blue rectangle and have a plan for when price reaches it. {image} The Daily shows the 1.28 area has been strong resistance, I'll wait for more convincing PA before selling. {image}
this bar doesn't look good as a beob. mostly because of the fact that we have a ranging market and a weak close of the bar. just my 2c
meine augen sind die sterne
  • #135,922
  • Jul 14, 2015 10:06am Jul 14, 2015 10:06am
I have a question concerning the BUOB that is forming on the GBPUSD. I've only started trading this signal recently and I've been entering at the breakout of the outside bar with my stop loss below its low, because that seemed like to the most logical thing to do. But is that correct?
Where is the correct place to place my buy order? At the breakout of the BUOB or at the close of the BUOB?
Attached Image (click to enlarge)
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  • #135,923
  • Jul 14, 2015 10:29am Jul 14, 2015 10:29am
Quoting incognito517
I have a question concerning the BUOB that is forming on the GBPUSD. I've only started trading this signal recently and I've been entering at the breakout of the outside bar with my stop loss below its low, because that seemed like to the most logical thing to do. But is that correct? Where is the correct place to place my buy order? At the breakout of the BUOB or at the close of the BUOB? {image}
At the breakout and this applies to all 3 basic PA Patterns - Inside/Outside/Pin bars.
  • #135,924
  • Jul 14, 2015 10:31am Jul 14, 2015 10:31am
Quoting incognito517
I have a question concerning the BUOB that is forming on the GBPUSD. I've only started trading this signal recently and I've been entering at the breakout of the outside bar with my stop loss below its low, because that seemed like to the most logical thing to do. But is that correct? Where is the correct place to place my buy order? At the breakout of the BUOB or at the close of the BUOB? {image}
Hey incog,
everyone play it differently. but the most conservative way is playing the break of BUOB. you can play at close or play the retrace(most aggressive). they are more reliable in swing low and you can use them as trend continuation in up trend. take care
  • #135,925
  • Jul 14, 2015 11:33am Jul 14, 2015 11:33am
Thanks Zamfir and Reza, appreciated!
  • #135,926
  • Jul 14, 2015 12:17pm Jul 14, 2015 12:17pm
Quoting Reza.glm
{quote} Hey incog, everyone play it differently. but the most conservative way is playing the break of BUOB. you can play at close or play the retrace(most aggressive). they are more reliable in swing low and you can use them as trend continuation in up trend. take care
There's an example of BEOB with an entry on the pull back to the most recent swing low.
Attached Image(s) (click to enlarge)
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  • #135,927
  • Jul 14, 2015 12:51pm Jul 14, 2015 12:51pm
Quoting ziven78
Is anyone watching this level on USD/JPY? (waiting for PA) {image}
have a question to more experience traders here, would you consider this PA as 2H PB for example (it wouldn't be proper PB as such anyway). I mean do you join them 2 candles together to get a PB sometimes ?

there is still PB on 4H though
Attached Image(s) (click to enlarge)
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  • #135,928
  • Jul 14, 2015 12:54pm Jul 14, 2015 12:54pm
Quoting ziven78
{quote} There's an example of BEOB with an entry on the pull back to the most recent swing low. {image} {image}
That's right Z, i don't have the chart, but if you are referring to very small bar in daily chart it seems like Sunday bar(they are appear only in some broker due to time differences and should ignored as Jim & mike said). not sure though.
  • #135,929
  • Jul 14, 2015 1:21pm Jul 14, 2015 1:21pm
Quoting Reza.glm
{quote} That's right Z, i don't have the chart, but if you are referring to very small bar in daily chart it seems like Sunday bar(they are appear only in some broker due to time differences and should ignored as Jim & mike said). not sure though.
I meant more like taking an Open of one candle and Close of the one right after and make it 'imaginary' one candle.
  • #135,930
  • Jul 14, 2015 2:16pm Jul 14, 2015 2:16pm
Alright guys, made lots of good pips today?

Just in on one trade held from yesterday, trading the weekly pin on GBP/JPY, 70 to the good but think i might just keep riding this dragon upwards.
  • #135,931
  • Jul 14, 2015 2:46pm Jul 14, 2015 2:46pm
Quoting Bladerunn3r
Alright guys, made lots of good pips today? Just in on one trade held from yesterday, trading the weekly pin on GBP/JPY, 70 to the good but think i might just keep riding this dragon upwards.
Hey Blade, no I didn't. I got a good spanking from GBPUSD today.

I'm currently up 150 points on Friday's GBPNZD BUOB though.

All the best on your trade.
  • #135,932
  • Jul 14, 2015 2:49pm Jul 14, 2015 2:49pm
Got stopped on the GU
USDPLN still running, slightly in the red. tightened stop on that one.
Patience is key.
  • #135,933
  • Jul 14, 2015 2:55pm Jul 14, 2015 2:55pm
Quoting incognito517
{quote} Hey Blade, no I didn't. I got a good spanking from GBPUSD today. I'm currently up 150 points on Friday's GBPNZD BUOB though. All the best on your trade.
What happened? You were short when it spiked?
  • #135,934
  • Jul 14, 2015 3:06pm Jul 14, 2015 3:06pm
Quoting Bladerunn3r
{quote} What happened? You were short when it spiked?
Was short on yesterday's PB.
  • #135,935
  • Jul 14, 2015 3:44pm Jul 14, 2015 3:44pm
UJ Weekly

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  • #135,936
  • Edited 5:27pm Jul 14, 2015 4:26pm | Edited 5:27pm
Bearish pin bar off resistance - USDCAD daily.
Attached Image (click to enlarge)
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EDIT: Order canceled!
  • #135,937
  • Jul 14, 2015 4:49pm Jul 14, 2015 4:49pm
Quoting incognito517
Bearish pin bar off resistance - USDCAD daily.{image}

Hello incognito517,

in my humble opinion I would stay out of this for tomorrow, because its to risky.
For me its a smilar situation in comparison to the recent cable pin.
There was a kind of engulfing bar on friday, which was broken today after a gap up at the weekly open.
Also its counter trend and
tomorrow is the CAD central bank meeting, which can shake things around strongly.
Attached Image (click to enlarge)
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  • #135,938
  • Jul 14, 2015 5:26pm Jul 14, 2015 5:26pm
Quoting Kershey
{quote} Hello incognito517, in my humble opinion I would stay out of this for tomorrow, because its to risky. For me its a smilar situation in comparison to the recent cable pin. There was a kind of engulfing bar on friday, which was broken today after a gap up at the weekly open. Also its counter trend and tomorrow is the CAD central bank meeting, which can shake things around strongly. {image}
Thank you Kershey, I appreciate your advice. I've canceled my order.
  • #135,939
  • Jul 15, 2015 1:22am Jul 15, 2015 1:22am
Quoting incognito517
Bearish pin bar off resistance - USDCAD daily.{image} EDIT: Order canceled!
Saw this one too, thought about an entry but thought it might be better just to hold on a bit as the move up before its formation was only one candle and as said by Kershey its against the long term trend. It has seen nice moves from this level before though and has been ranging since Feb so worth keeping an eye on.
  • #135,940
  • Jul 15, 2015 3:44am Jul 15, 2015 3:44am
That's a poor pin bar, regardless of where it is, taking trades on those will soon empty your account. Ucad is at a great place to look for sells, but wait for a decent PA bar.
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