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james16 Chart Thread
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Jun 19, 2010 1:40am
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J16 Senior Member cczar
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Quote:
Originally Posted by datogio
Hi Vasco.
Personally I always favor high time frame trend and ppz, if the price has just bounced from the bearish trend line on monthly and especially if the TL was confluenced with other factors I wan't be looking for buy opportunities If I don't see something more important than the zone from witch the price has just bounced. Everything comes to recognizing important zones, in the USD/CHF case we discussed above, important zone IMO was the zone from witch the price is moving down, the power is with bears and to stop that power is much more quality...
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Great post datogio.
This is trading poetry, brother. Nice.
"The direction of price isn't changing rapidly most of the time, that's the biggest problem of trading if you're impatient and the biggest power if you're patient." - datogio.
Jim
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Indicators show the past. Price Action "Indicates" the future.
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Jun 19, 2010 1:46am
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J16 Senior Member cczar
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Quote:
Originally Posted by oneuniverse
Hi,
I found GU to be waiting for potential setup.
On Daily we see
1) Price near trendline resistance
2) Price at daily PPZ
3) Fib retracement
what seems intresting is confluence at fib 61.8 and BRN 1.5000
Now, if PA develops around 61.8% and 1.5000, will be very nice short
wish long pins develops!
Also see monthly for target of 1.4300 as there are rejection zones around those areas and support
Kind Regards
Winston
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Man, that looks great. Your on a roll, brother. 
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Jun 19, 2010 1:58am
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J16 Senior Member cczar
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Quote:
Originally Posted by Donkey
I've been watching this pair consolidate for a while and it's finally broken down pretty hard. Looks like the 1.1000 zone has a couple of prime locations for some PA.
We have fib confluence from 2 previous swing lows in 2 areas. First is 50/38 also in confluence with the 150 weekly ema around RN 1.1100. The second, and most interesting to me is the 62/50 that looks to be to the pip at 1.0900. I'll be watching this one closely next week hoping to catch a bounce.
Additional note is that zoomed out on weekly there is almost no need to draw the...
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That 1.1000 has some nice confluence going for it. Wouldn't surprise me if we hit that number next week.
Nice chart, Donkey. 
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Jun 19, 2010 2:21am
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J16 Senior Member cczar
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Quote:
Originally Posted by mbqb11
In terms of shear bars themselves, forgetting location and just bars.
Mike
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I guess its a good exercise in PA structure which is a good thing.
But not seeing the whole picture sure makes them look kind of "out there".
It's like . . . Mike, what do you think of the Daily Aud/Sgd? . . . .
 I took out the BRNs. lol
Just kidding guys . . great posts and exercise . . very helpful. 
Jim
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Jun 19, 2010 2:34am
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J16 Senior Member cczar
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Quote:
Originally Posted by ghous
Would love to see it work out but it looks like a tough call. Lot's of traffic and whippy volatile moves,
Will be watching it for sure...though that's only what this IPB will get from me.
Location is sound of course but in terms of price action and preceding bars maybe the IPB could have been longer to indicate more strength.
g.
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Thanks g.
I may take a small postion. Also that bar High, 4 bars previous, is bugging me. Should be fun to watch.
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Jun 19, 2010 2:41am
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J16 Senior Member cczar
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Quote:
Originally Posted by ghous
Some outstanding confluence on the setup...location wise truly rocks!
(blue EMA is the 150)
g.
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That's why I posted it g. I knew you would like that location. Who wouldn't. 
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Jun 19, 2010 2:50am
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J16 Senior Member cczar
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Quote:
Originally Posted by ghous
looks like Usd/Cad worked out pretty fine too eh?
g.
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Came close to stopping out, but yes . . . nice. Notice that bar Low, 2 bars previous, bugging me.
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Jun 20, 2010 2:19pm
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J16 Senior Member cczar
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Quote:
Originally Posted by fxdrive
I addition to the last post would the following be a 3 day pin bar and is it a valid J16 PA setup?
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Yes, that would be a 3 Day PB.
Here's a similar example. Eur/Usd on the Weekly.
If we look at the Monthly chart, we know that we are only 3 weeks into the Month. So we can see Price being presented as a 3 Week PB at the end of this week on the Monthly. Not just with the Euro but with all pairs, meaning other pairs will represent a 3 week formation on the Monthly.
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Last edited by jarroo, Jun 20, 2010 2:34pm
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Jun 20, 2010 2:27pm
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J16 Senior Member cczar
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Quote:
Originally Posted by mbqb11
mark the major PPZs they will come back  
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I figured you could tell where the BRNs were anyway, Mike. 
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Jun 20, 2010 2:42pm
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J16 Senior Member cczar
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Quote:
Originally Posted by fxdrive
A fantastic post. This really made me stop and think about what I am doing and why. I'm still trying to open the door to this new trading dimension you all live in but feel that bit closer.
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I agree, its a great post.
I like this line . . . "PPZ levels . . . "gas stations" for Price". 
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Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, Jun 20, 2010 3:05pm
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Jun 20, 2010 2:52pm
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J16 Senior Member cczar
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Quote:
Originally Posted by six gun
It would be interesting to see the body of the fully formed monthly pin bar end up sitting above the 1,25 BRN. That would be a decent sized pb.
The EUR has been in decline for a long time - I don't see a fundamental reason for a change but a bottom in this market had to be reached at some time.
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Nice analysis six gun, and an important point.
Its true, that viewing Price in an aggregated or combined way will present more PA formations but this does not mean they are tradable. We still have to do our due diligence of seeing . . PPZ levels, Swing High/Low, Confluences, Bar size, etc.
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Last edited by jarroo, Jun 20, 2010 3:09pm
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Jun 20, 2010 3:02pm
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J16 Senior Member cczar
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Quote:
Originally Posted by fxdrive
Nice one. Thanks for the clarification and charts. I've had trouble in the past trading a weekly chart. Would you trade a weekly chart all by itself without drilling down into the daily or use the information in the weekly setup to show direction and then take a daily setup if it shows itself?
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Yes to both questions.
Check out oneuniverse recent post on the Nzd/Jpy. You can use the Higher time frames( Monthly, Weekly) in confluence with the Daily. Meaning any good bearish PA on the Daily ( Big bar, swing high, etc) would be in agreement with these higher time frames. (mainly with the Monthly)
Or just taking the higher time frame setup (like a Monthly BEOB) as a stand alone setup will work also.
Quote:
Originally Posted by oneuniverse
Hi,
Just my 2 cents.....
NJ monthly shows a BEOB with 50% fib retracement and the next month candle is retracing the BEOB monthly candle which could soon resume the down trend
Only Weekly, there is strong support from lower wicks near lower rectangle and good resistance around 65
On H4, we see traingle patter consolidating the upmove, it seems it is poised for upbreakout!
Looking at all three, I would look for shorts near 65 with nice PA
Kind Regards
Winston
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Jun 20, 2010 3:20pm
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J16 Senior Member cczar
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Quote:
Originally Posted by sollavia
Please forgive me if this is a stupid question, but I'm a newbie at trading and has just started to follow this thread. One of the points I've grasped is that it's necessary to have a large account with a small risk. I just want to know how large should an account be? I'm just a college student at the moment, and a $2,000 deposit for live account is fine, but I'm afraid not more than that. Is it ok?
Any help is truly appreciated. Thanks. 
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Welcome sollavia.
But your money away for now, please  . Follow the 1st post of this thread and open a Demo account. You got to prove it to yourself on demo first, my friend.
Again welcome to the journey,
Jim
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Jun 20, 2010 3:37pm
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J16 Senior Member cczar
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Quote:
Originally Posted by nickchan24
Hi everyone.
Just found this post and it really is a breath of fresh air! Ive been trading for about 2 years now, and havent really moved forward but really hoping this will teach me everything I need to know. Im currently on page 52 of this thread so about 4400 to go! I was just wondering if the paid forum is like this too? or if all the information is in one easily accessible place?
Thanks again!
Nick
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Hey Nick and welcome.
I would continue on this thread for awhile, alot a great stuff here.
I don't know if you have seen the guest material:
http://www.james16group.us/Guests/guestmaterial.html
The James16 Group has a ton more videos, webinars and different methods incorporating Price Action. Definitely worth a long look when you feel the time is right. But I may have a bias, because I'm a lifetime member. I can't say enough about it, its a great place.
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Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, Jun 20, 2010 3:48pm
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Jun 20, 2010 5:37pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
Thanks g.
I may take a small postion. Also that bar High, 4 bars previous, is bugging me. Should be fun to watch.
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Hey g.
I knew that bar high was bugging me for a reason. If they are not perfect, they are not worth the risk. This IPB located at the 65.00 would have been much better.
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Jun 21, 2010 5:20am
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J16 Senior Member cczar
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Quote:
Originally Posted by ghous
I don't know but I am getting into this habit of passing in on an IPB whenever it is not at an extreme swing point of a pull back or a trend high/low. This wasn't an exception. Once again the extreme swing was that bar high which was bugging you jarroo...small stops are great for R:R but then they require the trade to immediately materialize which is less likely when price is near a swing point rather than at it.
g.
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Well said my friend . . . Patience and Pickiness Rules. 
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Jun 21, 2010 6:26am
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J16 Senior Member cczar
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Quote:
Originally Posted by novice198
Pardon my Ignorance is IPB = Inside Pin Bar
Cheers
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Stands for . . Inverted Pin Bar
Here's a link:
http://www.forexfactory.com/showpost...ostcount=52647
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Jun 21, 2010 7:26pm
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J16 Senior Member cczar
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Quote:
Originally Posted by joelcf
Hopefully it doesnt stop you posting, really like reading your analysis on them. The way you approach them has definitely made me rethink not only these, but some other setups too (like 'traditional' pin bars) and how/why/if they work. Maybe you just need a big disclaimer in your sig
Also, I propose naming these back to 'Ghous bars'. If Keltner, Bollinger, Donchian, Chaikin, Williams and Fibbonacci can do it...
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I like that too. lol  G-Bars
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Jun 21, 2010 8:05pm
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J16 Senior Member cczar
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Quote:
Originally Posted by HanSolo
What do you think of the BEOB on daily EURUSD?
Pro:
* VBRN @ 1.2500
* Fib Confluence on daily chart
* Weekly PPZ
* Monthly 150EMA
* With the downtrend
Contra:
* Could be retrace to minor daily TL
* Daily bullish divergence
* Not so much space
I would like to see the daily close below the low of the weekly bar @ 26th Oct 2008 (1.2329) and below the weekly pivot (turquoise line on my chart). FTA and the minor daily TL I mentioned above @ ~1.2258 would be a good point to move to BE.
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Nice analysis Hans. I would like to have seen that BEOB rejecting on (not near) the 1.2500, like the BEB in purple. Not a bad setup but as you said, it has some traffic.
I like the Daily PPZ level at the 1.2350, previous bar low. This could help its cause.
I like how you are looking up to higher time frames for clues or confluences with the Daily setup instead of down to lower time frames.
Your target(s) are on the Daily, the time frame that the setup was presented.
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Indicators show the past. Price Action "Indicates" the future.
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Jun 21, 2010 8:18pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
Nice analysis Hans. I would like to have seen that BEOB rejecting on (not near) the 1.2500, like the BEB in purple. Not a bad setup but as you said, it has some traffic.
I like the Daily PPZ level at the 1.2350, previous bar low. This could help its cause.
I like how you are looking up to higher time frames for clues or confluences with the Daily setup instead of down to lower time frames.
Your target(s) are on the Daily, the time frame that the setup was presented.
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Same with the Gbp/Usd Daily BEOB, same BEB at the 1.5000 in purple. 1.4800 PPZ could help its cause. Lacking space or much traffic are the problems.
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Jun 21, 2010 8:34pm
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J16 Senior Member cczar
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Quote:
Originally Posted by aserbfx
any thoughts about todays pinbar on dj? i think it goes to the area where the red arrow is. if the pinbar breaks ...
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 This is what we look for is a A+ setup, in my book.
I'll take these all day long.
Its a BEOB not a Pin Bar but it looks like one . . .I love that.
Nice retracement cluster 61.8 fib and 50% ret. at a BRN 10500. Clear target (its got to get through the 1st target before it gets to your red arrow).
Nice space.
I like it aserbfx . . .to say the least. . .  .
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Indicators show the past. Price Action "Indicates" the future.
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Jun 21, 2010 11:48pm
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J16 Senior Member cczar
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Quote:
Originally Posted by novice198
Hi Jarroo,
I seem to have a problem with Fib confluence. I do not see any Fib confluence in the EU daily chart if the Fibs are drawn from the relevant Swing high and low. However, if I want to "curve fit" then I can draw the fibs from smaller swing hi and lo. Is this the right approach.
Also I haven't seen any setups on the daily and 4HTF for couple of days on my FXlite feed which provides NY close daily candles. So is it me who cannot "see" the good setups or the setups are not there as markets are in consolidation mode.
Cheers
Novice198...
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I like using retracement levels from the most recent swing highs/lows on the same time frame that the setup was given. Better if the high time frame levels line up also. So any of these swing highs can be used. I'll use the Zigzag indicator and line chart to show this.
There is a confluence with the 61.8 Fib , 38.2 fib and 50% retrace level. (50% ret is not a fib level, is a retracement level).
Anyways, this may be viewed as curve fitting, but the main point is that the setup is at a retracement level, no matter how it is defined, confluencing with a PPZ level. In this case the 1.2500 and 1.2350
But this is not the whole story, the setup is at a swing high at these retracement level(s). This is a good thing. But the lack of space (consolidation) of the setup is not the best, bad actually.
So there are good point and bad points to these (EU/GU) setups. Lets see how they work out. 
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Last edited by jarroo, Jun 22, 2010 12:39am
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Jun 22, 2010 12:11am
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J16 Senior Member cczar
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Quote:
Originally Posted by ghous
Hey Hans,
The bar is big enough but then it lacks that authoritative look.
You see to reverse this short yet powerful burst from the bulls this pin bar will have to do an awful lot and you need it to be looking very strong and capable of achieving something of that sort. A hard quick break would dispel it's intentions nicely.
g.
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Good point ghous.
One aspect that I like about this setup is what oneuniverse pointed out here on the Monthly BEOB Nzd/Jpy.
Quote:
Originally Posted by oneuniverse
Hi,
Just my 2 cents.....
NJ monthly shows a BEOB with 50% fib retracement and the next month candle is retracing the BEOB monthly candle which could soon resume the down trend
Kind Regards
Winston
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One good confirmation about BEOB/BUOB ( when the behave correctly . .lol) is that they will retrace to their previous bar Low/High. In this case the Low. (Also seeing this happen on the BEOB on the EU and GU.) Nice touch trade at the 65.00.
Now the Monthly BEOB is not at a swing High more so in a consolidation area but I like the higher time frame confluence.
lol . . .you're right . . A nice hard break will remove all doubt.
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Last edited by jarroo, Jun 22, 2010 7:33am
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Jun 22, 2010 12:30am
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J16 Senior Member cczar
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Quote:
Originally Posted by cprao
Jarro, would you mind further explan the differrence between Fib level and retracement ?
I am using them both interchangebly in my mind.. like 50% fib retracement from swing high/low.
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They both mean the same thing. Fib levels are retracement levels. 50% retracement is not a fib level. They are both levels of retracement that the market tends to recognize.
A better question . . .Why at retracement level?
We always like going with the trend but when to enter this market trend is sometimes difficult. One way is wait for the trend to form a swing High in a downtrend to enter that down trend. So we look for a swing High in this down trend that confluences with a PPZ level and a retracement level, be it at a fib or 50% ret.
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Jun 22, 2010 12:54am
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J16 Senior Member cczar
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Quote:
Originally Posted by ghous
Oh yes!
I definitely missed that point.
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Proxy by that much (pressing thumb and index finger together very hard)
lol 
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Jun 22, 2010 3:05am
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J16 Senior Member cczar
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Quote:
Originally Posted by HanSolo
Hi Jarroo, thanks for you analysis. I totally overlooked that it was rejected just near and not on the 1.25. As with the targets on the same TF of course you're right. I have to write this on my checklist because I tend to forget that.
I have moved my SL above the recent BEOB on the 4hr (see chart).
BTW, what is a BEB? Is it a BEarish Bar?
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Yep that's it.
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Indicators show the past. Price Action "Indicates" the future.
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Jun 22, 2010 3:36am
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J16 Senior Member cczar
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Quote:
Originally Posted by Location
I was really inspired by one of Kesh's posts, so I decided to create my on list of rules. This is my synthesis of what I've learned over the last three weeks. Because I am on summer break from school, I have really been able to devote 6-10 hours to studying the material daily. I must admit that I did not have a clue what I was doing until well past my 60th hour of reading.
Now, I am going to open a demo account on July 1. I am planning to get my "Game Plan" printed out, blown up, and laminated. Before I do so, I would love to get some feedback....
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Nice game plan.
Love that user name Location. 
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Indicators show the past. Price Action "Indicates" the future.
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Jun 22, 2010 3:42am
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J16 Senior Member cczar
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Quote:
Originally Posted by Jonnyislost
Pinbar and Location should get together
They'd make a great team
.... I'm so funny 
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I was thinking the same thing . . lol
Is there a "PPZ" out there.
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Jun 22, 2010 4:25am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
I am sure there will be very soon after you posted that. LoL
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"Confluence" would be great one. lol
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Jun 22, 2010 4:46am
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J16 Senior Member cczar
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Quote:
Originally Posted by fxeturn
BEOB on EU and BUOB on UC, but UC looks more inviting. Supported by VBRN, large space, less traffic, trend continuation. Looks like a viable low-risk entry on BUOB's high with FTA on 1.1176.
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EU BEOB already broke, that's a good sign.
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Jun 22, 2010 4:59am
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J16 Senior Member cczar
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Quote:
Originally Posted by fxeturn
I'm still looking though. It looks like it's heading for a retest, although 1.23 looks real strong with all the traffic.
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Definitely not a hard break there . . .not good. GU working nice. . . .so far.
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Jun 22, 2010 5:29am
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
Definitely not a hard break there . . .not good. GU working nice. . . .so far.
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Welcome to PA in traffic. I like its chances of hitting its 1st target(s), previous bar Lows. Swing highs are good . .swing highs with limited traffic are better.
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Indicators show the past. Price Action "Indicates" the future.
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Jun 22, 2010 5:31am
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
Welcome to PA in traffic. I like its chances of hitting its 1st target(s), previous bar Lows. Swing highs are good . .swing highs with limited traffic are better.
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GU BEOB,
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Jun 22, 2010 5:38am
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J16 Senior Member cczar
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Quote:
Originally Posted by six gun
Jarroo - on my chart there is a Monday bearish outside bar.
It is a BEOB because it is bearish and it entirely envelopes the previous bar but this is a Sunday bar which is a miniature effort.
It does not envelope the Friday bar on my chart.
This is a general question - Is a BEOB reliable in such cases?
The Monday bar is a big thing and would envelope previous bars in many cases on this chart.
Price has broken down through the trend line and is carrying down. (Ignoring fundamentals, as I said previously I can't see fundamental reasons for the...
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FzPro doesn't have Sunday bars on there Daily, that is Friday's bar.
IBFX has Sunday Bars here's a chart.
Breaking the trendline is an added confluence (or confirmation) along with the BEOB at a swing, PPZ , etc
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Jun 22, 2010 5:43am
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J16 Senior Member cczar
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Quote:
Originally Posted by six gun
Jarroo - on my chart there is a Monday bearish outside bar.
It is a BEOB because it is bearish and it entirely envelopes the previous bar but this is a Sunday bar which is a miniature effort.
It does not envelope the Friday bar on my chart.
This is a general question - Is a BEOB reliable in such cases?
The Monday bar is a big thing and would envelope previous bars in many cases on this chart.
Price has broken down through the trend line and is carrying down. (Ignoring fundamentals, as I said previously I can't see fundamental reasons for the...
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I'm not a big fan of fundamentals but I do read the paper. lol
Sorry, we ignore Sunday bars.
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Indicators show the past. Price Action "Indicates" the future.
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Jun 22, 2010 5:51am
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J16 Senior Member cczar
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Quote:
Originally Posted by fxeturn
Already dropped 36 pips in the last 46 minutes... the possibility is high now.
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Hard breaks are more likely to happen when they are at Swing high with no traffic. lol Although they do also hard break in these situation as well.
But a lot of times that have to find there path through the traffic, all other PA criteria being equal..
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Jun 22, 2010 5:56am
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
 This is what we look for is a A+ setup, in my book.
I'll take these all day long.
Its a BEOB not a Pin Bar but it looks like one . . .I love that.
Nice retracement cluster 61.8 fib and 50% ret. at a BRN 10500. Clear target (its got to get through the 1st target before it gets to your red arrow).
Nice space.
I like it aserbfx . . .to say the least. . .  .
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I wonder what this DJIA30 chart is going to look like today. 
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Indicators show the past. Price Action "Indicates" the future.
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Jun 22, 2010 6:02am
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J16 Senior Member cczar
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Quote:
Originally Posted by six gun
I think you will see my drift from my GMT +1 chart.
Ignoring the Sunday bar, which GFT do have, this is not a BEOB.
The majority of trading comes out of the London session and out of London.
What is happening in London shapes the market.
London time is GMT+1 at the moment but lets say they carry on with GMT in the City.
I don't know what times the big boys on Canary Wharf in the City actually use but chances are it is based on GMT.
They won't be seeing a BEOB.
Now the reason it is a bearish bar is something else but we are recognising this...
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Oh . .I see now. Yeah that doesn't qualify. I would stick to New York time if you can.
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Jun 22, 2010 6:06am
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J16 Senior Member cczar
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Quote:
Originally Posted by six gun
PS - that bearish pin bar on the Dow is a nice pin bar. I am bearish on the stock markets. Bankrupt economies cannot sustain a high stock market. I'm sure that must be somewhere in the newspapers!
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Its right on the front pages. lol
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Jun 22, 2010 6:12am
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J16 Senior Member cczar
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Quote:
Originally Posted by datogio
Break of 2IB and retest, confluencing with TL and weekly ppz. resistance stays resistance for now.
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I'm going to start calling you Rac-datogio-zek
Very nice. 
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Last edited by jarroo, Jun 22, 2010 7:24am
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Jun 22, 2010 6:15am
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J16 Senior Member cczar
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Quote:
Originally Posted by six gun
Really??
Niall Fuller in Australia uses New York time.
I would be really interested in the consensus opinion on the time. I think I can change the closing times on my platform.
The bars can look very different depending on the time zone you use.
If you are US based you may favour Eastern Time.
I would be very interested to know what is best. There will be a best.
I know James has said use what you have but the reality is there will be a best. The BEOB is not there for me in the UK - but it worked out. Now whether it work out because of this...
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Mike use Fxpro . . James16 uses IBFX . . I use both. 
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Jun 22, 2010 6:18am
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J16 Senior Member cczar
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Quote:
Originally Posted by datogio
Thanks for compliment brother 
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I see those alot . .but it usually after the fact. lol
I'm getting better though. Post more of those datogio, (even after the fact) they're works of art in my book.

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Jun 22, 2010 6:21am
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J16 Senior Member cczar
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Quote:
Originally Posted by six gun
Jarroo - not the platform, the time zone.
A 4H candle on GMT+1 will not look the same at a 4H candle on GMT+3.
It will only look the same as GMT-3, GMT+5 etc.
The daily BEOB candle did not close at the same for London time and New York time.
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Ok I see.
Wait a mintute . .how can last Friday's bar on your chart be so big . . . it was a very thin day, market wise?
That's Friday's bar on your chart, six gun.
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Jun 22, 2010 6:26am
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J16 Senior Member cczar
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Quote:
Originally Posted by datogio
I'll do my best, but sometimes I hesitate don't want to make any harm to newcomers.
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Understandable bro . . I'll smooth them out. . no worries  
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Jun 22, 2010 6:31am
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J16 Senior Member cczar
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Quote:
Originally Posted by six gun
This is the chart with GFT based on GMT +1.
Plenty of people are running GMT+1.
What do other people see on their GMT+1 charts for EUR/USD.sb?
If my charts are all cocked up I need to know.
If they are the same as every other trader sat in the UK then we should discuss standardisation of our charts.
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The same as the IBFX Euro chart I posted but with a Sunday bar. Yours is the same but with no Sunday bar.
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Jun 22, 2010 6:37am
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J16 Senior Member cczar
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Quote:
Originally Posted by six gun
Ah I am a dick head. The little bar is Friday not Sunday.
I do get Sunday candles but not on my daily charts.
Well that makes order flow sense.
Thursday is bulls day.
Friday is doji day
Monday the bears take over and they are still in command.
Will keep looking for the best closing time - the question is asked on the Factory but no clear answer so far, one poster says he's asked around but no-one can answer him.
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lol
I like the 5:OO PM EST Close.
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Jun 22, 2010 6:47am
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J16 Senior Member cczar
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Quote:
Originally Posted by six gun
We both have three pieces of wood. They is 6 metres of wood.
We both have the same amount of wood.
Yours are all 2 metres long.
I have a piece of wood that is 2m long and then one that is 1m and the last 3 metres.
I get the drift - we are judging changes in sentiment.
Martin Pring looked at the charts to see if there were bar patterns which indicated a reliable change in market sentiment.
So my candle is your BUOB and his Double low high close.
But for a true DHLC it has to be pip perfect - so closing time will influence this.
The closing...
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You'll see the A+ setups . .the true A+ setups . . .on all feeds many times my friend. 
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Jun 22, 2010 6:52am
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J16 Senior Member cczar
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Quote:
Originally Posted by six gun
What even if you are a dick head?
There is hope for me after all!
LOL
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lol
Its a good confluence SG. 
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Jun 22, 2010 6:58am
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J16 Senior Member cczar
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Quote:
Originally Posted by nasir.khan
I do wan't something that starts off with basics. I just learnt about Risk Appetite and Risk aversion (after i read it in your post) so you can judge how much i know about this whole thing.
Btw good to have a guy who has read almost every book out there.
Thanks Joel. 
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Absolutely. 
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Jun 22, 2010 7:47am
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J16 Senior Member cczar
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Quote:
Originally Posted by six gun
This is a chicken and egg situation.
The bars tell us what market sentiment is.
Then the bars compound that sentiment as traders react to them.
The buyers are exhausting and more enthusiastic sellers appear.
The bars indicate a change in sentiment - a bearish pin bar forms in outer Mongolia time zone.
A few traders see the pin bar and sell + on the pin bar.
The buyers are exhausting and more enthusiastic sellers appear.
The bars indicate a change in sentiment - a bearish pin bar forms in London.
A lot of traders see the pin bar and sell...
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So you think a lot of sellers are going to see (or already saw) that PB on the Dow? I think so. 
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Jun 22, 2010 8:06am
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J16 Senior Member cczar
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Quote:
Originally Posted by serb_manu
hey guys what do you think about eur usd h4 setup .double high lower close ,macd bearish divergence and trix bearish cross .will we go 1.2150 area today
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You didn't like the Daily BEOB on the Euro? Already hit its 1st target for about 40 pips.
The DBHLC on the 4 Hour is not to bad as a continuation setup but we would like these at a swing high. They can be a bit risky. (Good confirmation on our Daily BEOB.)
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Jun 22, 2010 8:20am
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J16 Senior Member cczar
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Quote:
Originally Posted by six gun
The pin bar is a staple of basic solid chart analysis.
Martin Pring created the bar and people like James have forged ahead with it.
The other chartists using fancy gizmo indicators are away with the fairies for me.
Solid bar formations, BRN's, major fib numbers and basic trendlines are the rulers of chart analysis for humans.
However bug says most of the trading is by computer on the Dow.
Can the machines see the pin bars?
May be they see them in a different way but they still see the signal.
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Not sure on how the computers work . .the 10500 might have triggered something. Who knows. . . lol
I'll have to ask nasir . .he saw the 10500 coming into play last week.
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Jun 22, 2010 8:38am
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J16 Senior Member cczar
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Quote:
Originally Posted by six gun
The struggle for price is going to be around 1.2230.
This is the low of the pin bar from where price came up from before turning down.
Looking left there are plenty of bars high/lows at this level.
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The choppiness of traffic, that's why we like space so much.
Price is still dealing with its 1st target(s). Getting through these levels are the key. Price may not, and have other plans.
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Jun 22, 2010 8:40am
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J16 Senior Member cczar
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I'm locked and loaded . . gotta go.
later gang,
Jim
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Jun 22, 2010 5:22pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
 This is what we look for . .this is an A+ setup, in my book.
I'll take these all day long.
Its a BEOB not a Pin Bar but it looks like one . . .I love that.
Nice retracement cluster 61.8 fib and 50% ret. at a BRN 10500. Clear target (its got to get through the 1st target before it gets to your red arrow).
Nice space.
I like it aserbfx . . .to say the least. . .  .
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Quote:
Originally Posted by bug
Right on, Jim! 
Dow is below 10'300 and still falling.
Too bad I lacked the courage to take this. Oh well, some other time perhaps.
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Its not lack of courage, its seeing them . . . . demoing them . . . practising them . .over and over again until you see it for yourself.
They have been pretty rare these days on the Daily but they happen all the time . . .time and time again.  You'll figure out the good ones and the great ones.
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Last edited by jarroo, Jun 22, 2010 5:59pm
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Jun 22, 2010 6:01pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
 You'll figure out the good ones and the great ones.
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Oh . . . I forgot . .and you only take the great ones . . . right Mike .  . I'm still learning this one. 
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Jun 22, 2010 6:24pm
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J16 Senior Member cczar
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Quote:
Originally Posted by bug
There's something really interesting going on on the GBPUSD pair. We have a bullish pin from M1 all the way through H1 (how the hell did that happen?). This particular pin bounced off of the Weekly pivot right back to the daily pivot. At the same time, we have a wannabe pin bar on the 4 hour chart. Wannabe because it's smack in the middle of heavy traffic with only a short nose. Granted, all of those pins miss one ingredient - their closes are not suitable for A+ setups (bearish closes are lower than open, should be other way around, you get the...
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Price Action tell me alot of things . .when they workout (hit their target(s)) or when they dont work out (which could mean they don't break or only hit minor FTAs or they dont' run, etc.)
The uptrend on the Gbp/Usd looks pretty strong. Why? The BEOB on the Daily hit its target, the 1.4700 PPZ level and then reversed. In my mind, this setup fullfilled itself. I 'm thinking were going to the 1.5000.
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Jun 22, 2010 6:27pm
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J16 Senior Member cczar
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Quote:
Originally Posted by mbqb11
Lets compromise . Somewhere b/w good/great - great 
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I have made some progress Mike . . Thanks to you . . . I've moved from "so-so" to "pretty good" . 
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Jun 22, 2010 6:31pm
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J16 Senior Member cczar
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Quote:
Originally Posted by proletary
Yep, you just created a crude model describing how crowd psychology works. BTW pinbars and beob/buob aren't exactly something new. Lot's of people are using them in different systems, not necessarily j16 followers. Those bar formations are simply reliable, so the chain reaction (compouding of orders) is magnified. Everything lasts until there is no one left to sell/buy from OR a market maker places a significant buy order, disrupting the chain reaction.
This can't go forever because at some point Jaroo says: "Look out! FTA!" And...
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lol 
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Jun 22, 2010 6:33pm
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J16 Senior Member cczar
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Quote:
Originally Posted by mbqb11
I don't think you were ever so-so 
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Oh yes I was. 
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Jun 22, 2010 6:52pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Atc
Sorry people I'm at work...not enough time to do pros and cons...thought I'ld share this EUR/CAD 8hr dblhc and Daily small pin ...pretty good location off the 1.25 area but against the trend
Daily chart please look for yourself it messed up on me
GTG...Happy trading
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The down trend is pretty strong, to say the least. Look at all those BUBs in purple and that couldn't even turn it around.
The 8 Hour DBLHC is trading right into a PPZ level. Maybe a 1-2-3 bottom forming ?? That down trend looks pretty hard to fight without some stellar Bullish PA.
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Jun 22, 2010 7:09pm
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J16 Senior Member cczar
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Quote:
Originally Posted by datogio
I'll do my best, but sometimes I hesitate don't want to make any harm to newcomers.
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Here's one that I missed datogio. Multi confluences, lining up with PA confirmation.
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Jun 22, 2010 7:19pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Atc
That PPZ is what makes me hesitate...so not comforting to trade.
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Yeah I agree Atc. Possible break out, pull back or retest. Tough one though. It almost looks like a good place to short. 
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Jun 22, 2010 7:22pm
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J16 Senior Member cczar
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Quote:
Originally Posted by six gun
From what I have read 50% is the favourite one.
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Yes. 
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Jun 22, 2010 8:00pm
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J16 Senior Member cczar
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Quote:
Originally Posted by ertorque
Hi Jaroo,
Need some clarifications here.
Sorry but the BEOB (highlighted in blue box) did not go down as far as 1.47 did it? It reaches only to the pink area which is significantly ABOVE 1.47. Also, the BEOB engulfs a Sunday bar which we should ignore, shouldn't we.
Thanks.
CY
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Its sure did hit the 1. 4700. That's the Friday bar, FxPro doesn't show the Sunday Bar on the Daily. Yes, we ignore Sunday bars just like Holiday bars.
Can I see your chart, CY?
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Jun 22, 2010 8:10pm
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J16 Senior Member cczar
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Quote:
Originally Posted by ertorque
Thanks Mike. I see Jaroo's point now. It is the bar after BEOB that bounced off 1.7 ( had thought he meant the bounce came from the BEOB itself). Anyway on my IBFX feed which has a Sunday bar that I usually ignore, the BEOB did not engulf the Friday bar, so I would not have played it anyway, space or not.
CY
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My IBFX shows it did.
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Jun 22, 2010 8:17pm
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J16 Senior Member cczar
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Quote:
Originally Posted by ertorque
You are right. Mine actually did. I must have seen the wrong chart earlier. Please see my previous post (I have edited it with a chart).
Sorry for the trouble.
CY
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No trouble CY. 
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Jun 22, 2010 8:35pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
Proxy by that much (pressing thumb and index finger together very hard)
lol 
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Quote:
Originally Posted by ghous
lol. 
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Here's an update ghous.
Pretty choppy due to the lack of space. But worked out nice.
Damn you traffic!!!
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Jun 23, 2010 1:16am
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J16 Senior Member cczar
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Quote:
Originally Posted by joelcf
I swear, if we are going to be renaming g-bars, this setup has to be called 'the Jaroo special'. A pinbar at a great level with an aqua box exactly where price jumps to... time and time again
I think the way you and mike concentrate on clear, simple charts helps keep my dark side at bay, lol. Just when I am considering overcomplicating things into a mess of epic proportions, one of you will post a chart with a ppz, a target, a pinbar and a win.
One more for the folder
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lol . . The credit goes to the big guy . .is a " James16 Special" I just been doing it a bit longer then most. He doesn't post that many charts here as of late. I'm sure he would have posted it.
When ever I find myself overcomplicating my charts . . its really quite simple what I do. . . time for a James16 chart and video review. 
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Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, Jun 23, 2010 1:33am
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Jun 23, 2010 1:30am
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J16 Senior Member cczar
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Quote:
Originally Posted by spookie94
Did you consider this a PB by Proxy?
First thing that jumped out at me was the low of your PB could have become new support. Not clear why you took this one?
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Yes I did consider this PB by Proxy. I didn't want to post more of this one because it was a Proxy PB.
The size stood out to me, the 64.00 PPZ level, DJIA30 Daily PB and the gap. I took a small position mainly because I knew the traffic was going to be choppy. Notice how the proxy level (left eye) acted as Resisitance after the break.
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Jun 23, 2010 2:17am
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J16 Senior Member cczar
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Quote:
Originally Posted by gc7
jarroo, I thought the bounce off the orange trend line was so precise that it may be enough resistence to keep price going down a bit further before heading towards the 1.5000 level. In this type of situation, should I be placing more emphasis on PPZ's than on trend lines?
Grant
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Hey Grant.
I would emphasize more on the PPZ level. Don't get me wrong, a well defined trendline can be very effective as an added confluence with a setup. Your chart shows this with the trendline you drew.
But let me ask you this . . was it the trendline or the BEOB rejecting the 1.4800 PPZ that got Price to the next PPZ level, the 1.4700? Probably both. . .maybe. Trendlines can de very subjective where PPZ levels can be very defined and clear. That's the difference I see in them.
All in all, the Daily BEOB Gbp/Usd was not an A+ setup, clearly just too much traffic. But for me, is was tradable with a clear take profit (target) in mind.
Sure it could have ran hard to the 1.4500, but it didn't. Price failed to cut through that traffic or the 1.4700 PPZ level.
Could this setup still lead the way down , trendline and all? Maybe. Once this BEOB gave up the 1st target (and pips into my account) on a non-A+ setup, I would rather sit on the sidelines and watch and learn from it then to be in it, in a draw down, "hoping" to get out at breakeven.
As you can see I like the 1.5000 level. Nice conflunce there . . if it gets there. 
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Jun 23, 2010 2:20am
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J16 Senior Member cczar
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Quote:
Originally Posted by djmartymac
Just wondering if anyone has compiled a 'best of' for this threads set ups. Kind of like the greatest hits  It would be good for beginners to this thread to have a collection of charts of the A++ set ups that were traded, discussed and were profitable. Just a thought. If there is such a thing could you point me in the right direction  Thanks
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Ive thought of this too. I don't think there is one out there. Its a good idea.
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Jun 23, 2010 2:41am
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J16 Senior Member cczar
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Quote:
Originally Posted by djmartymac
Maybe I have talked myself into a lot of homework  It might be possible if you could get enough participation from a few long time posters. I like the idea of being able to print out the very best examples and always have them near hand when trading to compare current set ups.
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I would start by going through all of James16 charts and put them in a folder and go from there.
Here's one for starters. Nov. 2007, Weekly Usd /Cad Pin Bar.

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Jun 23, 2010 3:06am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Patience, Patience.....!
EDIT:
Just watching some of the videos and realize I need only this one line for the time being on the weekly (right Pic).
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Nice Pb.
I would add just one more line at the .8425ish level. A clear Support level. Price may swing up there (pun intended) and give some nice PA turning Support into Resistance. 
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Jun 23, 2010 3:28am
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J16 Senior Member cczar
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Quote:
Originally Posted by HanSolo
PB, I know so well what you are talking about. Lately it happened that I had to take a week off of trading. Something magical happened when I came back: Many of the things I was struggling with before suddenly fell into place and maked perfect sense. I guess what holds for sports/working out seems to hold for trading and mental learning tasks, too: To get better you have to rest. It's an important part of training. Take some time out once in a while (e.g. on weekends) and you'll get back as a better trader.
As for the EURUSD trade I took:...
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Nice job Hans. . .you really did great on this one. You would been surprised by the number of traders still in this one wondering why their not rich yet or wondering why its not at 1.2000. lol
I'm sure you have noted that Price hit both previous bars lows, respectively.
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Jun 23, 2010 3:41am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Yes, I see what you mean. Hate to split hairs over 5 pips on the weekly TF, but I think I will leave it at 0.8420. LoL
I see what you mean about watching the Big Guys videos though.
I just wish he would moan more about how difficult it is & not make it look so easy.
PS: Hansolo, yes, I believe you are right, I have been taking time off last week to swim in the Ocean and training, 15 hours a day solid everyday including weekends is just too much.
Enough to anyone go candle blind.
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The .8420 is the "ish" in the .8425ish. lol
That's why they shoud be viewed often. As you start putting things together, you will see things differently after the 8th and 11th viewing.
He puts you in the right frame of mind. " Its dirt simple, folks"
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Jun 23, 2010 3:52am
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J16 Senior Member cczar
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Quote:
Originally Posted by gc7
Thanks jarroo, it is starting to make sense how I should be prioritizing the information. I did not take profit where you did (as I should have), because I thought the R:R would be so bad...only 25 pips profit, risked against the whole BEOB. With that type of R:R, one full bar loss every so often will wipe out many small profitable trades.
It may take a while for me to unlearn previous mindsets, and replace it with the J16 approach. Also, it would be less stressful taking the trade the way you did. 
thanks, Grant
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Just remember that this was not an A+ setup. For many smarter traders, this one was an easy pass too much traffic, but understood why it did what it did. I thought this was a good one to show how pure PA can be some what predictable, even if they're not A+.
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Jun 23, 2010 3:59am
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J16 Senior Member cczar
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Quote:
Originally Posted by serb_manu
hey guys what do you think about this pinbar on aud usd h1
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A bit too small and no space, running into a lot of traffic. Yet, it was a successful PB. Hitting both of its targets.
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Jun 23, 2010 4:32am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Yes, it is some kind of infectious encouragement, quite interesting.
USC/CHF looks to be at an interesting area and starting to show some interesting PA. Not sure if we can deduce any intention from the close of these bars. I mean, the IB was bullish but the close was nearly half way up the bar.
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That down trend sure is strong Pb. Price failed to even come close to breaking that BUOB. Not only because of the strong down trend but also the 1.1143ish PPZ level. The 1.1000 looks to be revisted.
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Jun 23, 2010 4:34am
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J16 Senior Member cczar
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Quote:
Originally Posted by extraneo
Buob on EUR / JPY 4 hours with space for up to 111.60
What do you think?
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Any PPZ levels near by? Daily? Weekly?
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Jun 23, 2010 4:50am
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J16 Senior Member cczar
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Quote:
Originally Posted by Atc
Sorry people I'm at work...not enough time to do pros and cons...thought I'ld share this EUR/CAD 8hr dblhc and Daily small pin ...pretty good location off the 1.25 area but against the trend
Daily chart please look for yourself it messed up on me
GTG...Happy trading
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Hey Atc.
Watching your Eur/Cad 8Hour and Daily PB. Don't know if you took it or not.
You got to love the hard break. Why can't they all be like this . .
I'll tell you, on some setups if they don't act like this I cut them quick.
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Indicators show the past. Price Action "Indicates" the future.
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Jun 23, 2010 5:10am
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J16 Senior Member cczar
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Quote:
Originally Posted by extraneo
I found these
I was wrong?
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The level isn't too bad, the 111.00. The 110.00 would be better. But the size of the setup looks pretty small to over come that down trend . .wouldn't you agree extraneo?
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Jun 23, 2010 5:23am
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J16 Senior Member cczar
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Quote:
Originally Posted by extraneo
thanks for reply, Jarroo 
yes, I agree
I thought to protect BE after making 20 pips
and so I thought I'd be safe ...
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Good to protect yourself on such a setup. Better setups are just around the corner. 
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Jun 23, 2010 5:26am
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J16 Senior Member cczar
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Quote:
Originally Posted by gc7
jarroo, I thought the bounce off the orange trend line was so precise that it may be enough resistence to keep price going down a bit further before heading towards the 1.5000 level. In this type of situation, should I be placing more emphasis on PPZ's than on trend lines?
Grant
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Yeah I saw it Grant. lol
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Jun 23, 2010 3:52pm
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J16 Senior Member cczar
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Quote:
Originally Posted by novice198
Hi Jarroo,
Not with standing the fact that the daily PB worked well ( this is in hindsight), isn't the daily PB a B setup at its best due to the size of the PB as compared to the other bars around it.
Cheers
Novice 198
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Absolutely N198.
The Daily PB was more like a C-D setup if you want to grade it. An easy pass for the smart picky J16 trader. That's what happens when your picky, you'll see these sub-standard PA setups take off and you just  smile even though you didn't take it, because this PA stuff works.
The 8 Hour BUOB was a bit better size wise as it relates to the previous bars on that time frame, not off the 1.2500 but it was near it, trading into a PPZ level, etc. An easy pass for the smart J16 trader.
That's why I said if you were to trade a setup like this . . . and I suggest you don't . . . . it better break the way it did or cut it loose quick.
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Last edited by jarroo, Jun 23, 2010 5:55pm
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Jun 23, 2010 4:14pm
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J16 Senior Member cczar
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Quote:
Originally Posted by joelcf
Let me preface this with a disclaimer: Reading back, sometimes my combination of brevity and charming personality comes off like a cranky old man on the porch, ranting at kids on my lawn... so I apologise if I did. I wasnt trying to be a jerk or anything  It's just a topic that comes up at least once a month in here, so I figured a longer answer was in order.
It isnt really that you shouldnt bother, it is just that I dont really see any particular one being 'best'. Arguments can be made for/against any, but - in my view anyways - as long...
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Another great one Joel. 
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Jun 23, 2010 4:23pm
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J16 Senior Member cczar
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Quote:
Originally Posted by datogio
Yes nice one Jarroo. I missed to capitalize on that one too but acquired a new portion of information to build my experience wall  I'm so thankful that I'm at the point of mindset, at last, when there're no missed or lost positions, only positions that build the experience and confidence, sometimes for a tiny charge and sometimes for free or even with profit.
God bless this thread and all its participant. 
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You have echoed my thoughts perfectly, brother.
Wow . . I couldn't have said it any better.
Jim
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Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, Jun 23, 2010 4:45pm
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Jun 23, 2010 5:00pm
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J16 Senior Member cczar
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Quote:
Originally Posted by gc7
Hey jarroo, I'm watching it out of curiosity, but not quite sure what to do if it stays inside the daily BEOB. Would it be a low risk, but maybe foolish trade to short it now, around 1.4912?
Grant
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It would appear to be foolish if that's all your basing that trade on. (imo) I need more information.
Is there any PA confirmation? How strong is the 1.4900 RN level? Is it a higher time frame PPZ level or just a minor one? . . . Inside the Daily BEOB, at the trendline, enter at 1.4912. . . . I just need more confirmation to take a trade.
I not saying trendlines are a bad thing quite the contrary, I would use them as part of the story instead of the whole story of a setup.
So on the Hourly . . . a small BEOB, at the trendline, at a swing high, break below the 1.4900. Not the best setup I would take (which I didn't) but good for 40 or so pips with no draw down.
My point is that PA with confluences makes a better trading decision.
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Last edited by jarroo, Jun 23, 2010 5:25pm
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Jun 23, 2010 5:22pm
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J16 Senior Member cczar
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Quote:
Originally Posted by fxprocessor
USDJPY inside bar short.
Price has broken through a 62 fib and broken the bottom of a BUOB. I see this as a sign of weakness that the area did not hold. I also used a pitchfork to provide me with additional information for this trade but this is not really relevant to the thread.
The break of the daily inside bar was my trigger. Very small risk/stop loss above todays high. I will update if stop loss is hit or when I take profit.
90 round number is being tested now and may be the area that pushes price against me and stops me out. If...
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Quote:
Originally Posted by fxprocessor
Stop loss was moved to break even this afternoon and I have now exited for 1.75r winner.
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Nice fxp.
BTW . . . Your Gbp/Jpy trade the other day was great. . . . Setup . .Target . . . Hit (Bam) . . beautiful. 
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Last edited by jarroo, Jun 23, 2010 6:25pm
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Jun 23, 2010 5:37pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Atc
Like the 1.5 BRN, PPZ, overall downtrend, and 61.8
We shall see....ala Rac trade ?
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Jun 23, 2010 9:28pm
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J16 Senior Member cczar
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Quote:
Originally Posted by bug
Wow Mike, that was like 4 minutes it took for you to reply! Did Merlin teach all the folks who were here at the start some kind of dark magic or something?
Your answer is just what I wanted to know. I have another one, though (we rookies never seem to run out of them) - in past posts, SeekingLight used the middle area between the 61.8 and 78.6 retracement as a buying/selling area. Was that just a personal preference to weed out the weak or is it something more widely used among J16 followers?
Thanks.
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Yeah I don't know how he does it. It would take me 10 times as long with half the substance. lol
Just to add to this. (Chart) Its better to wait for the break.
The quality of this setup would be # 4, likely. (Bullish PB at a swing High, small PB, etc.)
We all like # 1.
Mike, I believe, was referring to # 2 which I like as well. 
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Jun 23, 2010 10:04pm
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J16 Senior Member cczar
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Quote:
Originally Posted by mbqb11
Yea #1 never hurts  But then people always want to get in on a retracement, then number 1 happens, so they start buying/selling on the close, then price fails to break and they chase themselves :P. Consistency is very important and attributes of all traders I know that do well.
Yes #2 was what I was referring to , thanks for the pictorial Jim!
Mike
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I forgot the one that retraces and doesn't break, all the way through the Low. lol You only have to have this happen a few times, then you start waiting for the break.
Thanks Mike.
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Jun 23, 2010 10:47pm
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J16 Senior Member cczar
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Quote:
Originally Posted by james16
personally if i see a great bar set up occur between those two levels its time to sit up and take notice. if there happens to be a pivot and/or BRN there also then so much the better. here is an example.
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That would be a # 1, hard break and to the moon. 
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Jun 24, 2010 2:27am
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J16 Senior Member cczar
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Quote:
Originally Posted by fxprocessor
cheers mate 
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Everyone eyeballing the 1.5000 on the GU this morning, I take it.
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Jun 24, 2010 2:37am
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J16 Senior Member cczar
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Quote:
Originally Posted by fxprocessor
I would like to see price break through 1.5 then give a small TF entry on a retrace. Maybe sometime next week. Quite bullish on cable with the current price action. Won't trade it without a good setup though.
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I agree. I nice deep spike through the 1.5 woud be nice. Uptrend looks pretty strong, nothing could stop it but a brick wall.
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Jun 24, 2010 3:40am
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J16 Senior Member cczar
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Quote:
Originally Posted by gc7
Say we get a nice spike through 1.5, and there is no PPZ in the current or higher timeframes, would we still take the trade? Would the 1.5 RN be enough?
Grant
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Mike would say "absolutely" and I would agree with him. lol
Highly unlikely that the 1.5 would not be a PPZ level. Its a order flow thing at that level.
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Jun 24, 2010 4:02am
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J16 Senior Member cczar
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Quote:
Originally Posted by gc7
Say we get a nice spike through 1.5, and there is no PPZ in the current or higher timeframes, would we still take the trade? Would the 1.5 RN be enough?
Grant
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The 1.5000 is not just a RN its a BRN. Here's a post from Mike on these BRNs and why he likes them so much (why I like them too . . .and you should too )
Quote:
Originally Posted by mbqb11
Hey Jacob
This is something I adopted long ago. It accomplishes a lot of things. Firstly it keeps you from trading every 10 mins  . More importantly these larger round numbers are hit less, thus when price eventually makes it back to one it is going to generate both a lot of psychological interest as well as economic interest, and other things like barriers and tons of OF exist. Now this isn't to say the smaller round numbers are not important. They are very important, but more important for me in trade mgmt. Open any chart plot these numbers...
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He has much more info on these BRNs and their advantages threw out this thread.
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Jun 24, 2010 4:40am
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J16 Senior Member cczar
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Quote:
Originally Posted by novice198
Jarroo,
thanks for the confirmation of my views.
Cheers,
Novice 198
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Jun 24, 2010 6:13pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
 This is what we look for . .its an A+ setup, in my book.
I'll take these all day long.
Its a BEOB not a Pin Bar but it looks like one . . .I love that.
Nice retracement cluster 61.8 fib and 50% ret. at a BRN 10500. Clear target (its got to get through the 1st target before it gets to your red arrow).
Nice space.
I like it aserbfx . . .to say the least. . .  .
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The A+ setup examples seem to be rare as of late but when they do appear then tend to really standout.
Its all about waiting for them and being picky about their location, size, structure, confluences, etc. Why? Because when they do appear they can be worth the wait . . . to say the least.
(What was the fundamentals on this again?)
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Jun 24, 2010 6:32pm
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J16 Senior Member cczar
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Quote:
Originally Posted by forexben
Anyone know what the deal is with the euro at the moment? It hit a high of 1.2466 on June 22 and has ranged between the low of 1.2208 yesterday. None of the technicals (PPZ, PA, BRN's, fib levels) seem to be moving it anywhere.
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Quote:
Originally Posted by Jigsaw
EU ? The PPZ's are moving it everywhere !
(I drew these lines at the start of the week, before any of this price occured)
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Hey JIG !! Sup? Good to see you.
I have the same ones.
Hey forexben, if your going to go on the 4 Hour, I would suggest you first draw the PPZ levels from the Daily and Weekly. It makes it easier.
As Jig said, you could have drawn them last week.
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Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, Jun 24, 2010 7:55pm
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Jun 24, 2010 8:05pm
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J16 Senior Member cczar
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Quote:
Originally Posted by six gun
Yeah and still riding that train.
I have sat waiting for that one to appear for some days now. Waiting and waiting.
Waiting for the right shoulder to declare itself and for a candle stick sign.
There was nice pin bar on oil at the same time but that is not surprising as oil has been tracking the major indices like an identical twin.
Oil ran ahead of the indices and was bullish today - well slightly so now we have caught up.
What were the fundamentals on this? Serious?
Credit crisis USA ----> 2008 Crash
Europe Credit Crisis ---->2010 drop.
Nothing...
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You got me on that one SG. lol
My weak attempt of sarcasm fell short. lol
But with all that you have mentioned, why aren't we at 6500 by now? My point was that PA didn't show that . .Yet.  That's why I ignore the News . . most of the time . .lol
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Jun 24, 2010 8:19pm
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J16 Senior Member cczar
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Quote:
Originally Posted by bug
It's those retailers that have an oversupply of Dow 10'000 caps. They're holding the market up until they get rid of them.
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Where are those caps from 1999. lol
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Jun 24, 2010 9:38pm
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J16 Senior Member cczar
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Quote:
Originally Posted by bug
I don't know if I'm doing this right, but it looks to me like price is testing the TL. I haven't been around for long enough to have the eyes of Mike or Jim (I still can't believe the Dow A+ setup), but it looks like GU is picking up some fuel to blast through 1.5. The pin we had today has a pretty small nose, which shows strength. Also, we are sitting on a pivot area and price has been building a base on the weekly. Mike and Jim will probably pull me down from the skies, but I'd say this looks pretty bullish.
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What a difference . . comparing the BEOB ( pinbar looking) setup on the DOW to this small PB on the GU. If you can tell the difference, you now know what an A+ setup looks like and one that isn't an A+ setup.
The location of the small PB couldn't be better . .nice strong confluenced BRN, 1.5000.
The nose is small which shows weakness. Not saying that it does have potential, it does just on the location alone. But what tells me that it may not be done with the 1.5000 is its small size.
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Jun 24, 2010 9:53pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Yes, Jarrooo but I am eyeballing it on the weekly.
Very interesting.
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"Great bars at great Locations".
Location. (check)
Great bar . . . (waiting )
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Jun 24, 2010 9:58pm
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J16 Senior Member cczar
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Quote:
Originally Posted by bug
I thought short noses at a swing high were indicative of strength? Strength as in the price has room to rise.
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Lets' make sure we are talking about the same thing,
Nice long nose on these PBs, in green. (I know that one is a BEOB, its just an example)
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Jun 24, 2010 10:15pm
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J16 Senior Member cczar
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Quote:
Originally Posted by ghous
Couldn't stop grinning at this.
This guy knows his stuff!
g.
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Its good to see them once in awhile. Just so I know what one looks like. lol Its like feast or famine with them at times. Tell the feast begin.
I get my pickiness from Mike. . . .but then again . . Mike probably didn't like the traffic on it . . . just kidding Mike . . or not. lol
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Jun 24, 2010 10:17pm
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J16 Senior Member cczar
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Quote:
Originally Posted by bug
Hmm...it seems to me that we are talking about the same thing. I said the short nose on the GU was a sign of strength, meaning that the price could have some more room to go to the upside. The word 'strength' was not meant to describe the pin on GU. I'm getting pretty sleepy as it's 5:06 AM here, maybe I'm not very good at trying to convey what I tried to express...
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Oh I see . . the small nose was weakness for the PB to be bearish but bullish to up side.
I like it . . . bug 
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Jun 24, 2010 10:45pm
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J16 Senior Member cczar
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Quote:
Originally Posted by joelcf
I've been itching to short Tiffany for months now.
Give me a break below 40, a retest and then I'll make back all that money you have cost me around anniversary/birthday/chistmas time for the last few years. Jerks.
-----------
Also, just because it is Friday: A mate just bought a new toy. 14 monitor setup? Hell yes.
http://www.digitaltigers.com/stratos...elite-xe14.asp
(he is only running 6x 24" monitors, but I suspect more are coming soon)
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Freakin wow. That would be cool.
Where were you a couple of months ago. . .nice BEOB at the swing high, trigger at the 48.
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Jun 24, 2010 10:48pm
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J16 Senior Member cczar
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Quote:
Originally Posted by ghous
.
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Jun 24, 2010 10:50pm
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J16 Senior Member cczar
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Quote:
Originally Posted by mbqb11
Joel you missed the nice one though 
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jinx
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Jun 24, 2010 10:57pm
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J16 Senior Member cczar
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Quote:
Originally Posted by mbqb11
I think you owe ME a coke on this one 
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I said it first. 
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Jun 24, 2010 11:12pm
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J16 Senior Member cczar
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Quote:
Originally Posted by mbqb11
I'd buy you a beer anytime my friend
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Not if I buy you one first, bro.
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Indicators show the past. Price Action "Indicates" the future.
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Jun 24, 2010 11:44pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Jarroo
This is where the weekly TF gets hard.
I am watching this bullish type bar that was rejected by the 61.8 and 1.0510, of course it still has the rest of the day to close.
But a quick PEEK at the Daily shows me that you guys are all getting ready to take the break of yesterday's Bearish PB at a great location.
I am going to have to wait another week to see how price reacts to this current weekly bar.
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That's how you play the Weekly Pb. Its really not that hard when your patient. I understand its hard to do. Patience is hard, if it was easy it wouldn't be a virtue.
Look at this Pb on the GU back in Aug of last year. And say the 1.6700 is the current 1.5000 level. Could this possibly happen again? You bet it can. It may happen next week or in two or three weeks from now. Hang in there buddy. (I made some nice pips on that one btw)
I not thinking of taking that small PB. I'll watch it . But I agree with you, I will probably wait and see what next week will bring on the Daily.
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Jun 25, 2010 2:55am
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J16 Senior Member cczar
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Quote:
Originally Posted by ghous
Touch trading this early in your career... 
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I don't believe that's a touch trade but a break of that small Pb. Hmmm . . You gotta like the location.
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Last edited by jarroo, Jun 25, 2010 3:16am
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Jun 25, 2010 2:58am
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J16 Senior Member cczar
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Quote:
Originally Posted by joelcf
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Oh man . . didn't I have like 7,000 just last week or something
wow . . I talk too much. 
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Jun 25, 2010 3:23am
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J16 Senior Member cczar
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Quote:
Originally Posted by jspeakman
Hi - haven't posted for a while -work and difficulty finding A+ daily setups. Just wondered about this that caught my eye - was tempted but not a classic pin and traffic. Any thoughts?
Thanks
J
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I'm in this one myself J. This was a Pb by Proxy, meaning since the Open and Close was not within the previous bar, you use a previous bar High or PPZ level to compensate for that structurally deficiency.
You had the gap, which could work for you or against you. Trading into a alot of traffic but I thought the size of the bar and weight of the location was good for a small position for me. I'm using previous Daily bar Highs for my S/L.
other J.
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Last edited by jarroo, Jun 25, 2010 3:41am
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Jun 25, 2010 3:49am
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J16 Senior Member cczar
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Quote:
Originally Posted by jspeakman
Hi Other J
Thanks for that - considered the proxy angle but traffic was what put me off. I think maybe one can be too picky! Interested in your Daily highs for S/L - is that a tight management approach rather than using your free trade style?
Thanks
J
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Absolutely. The traffic . . . pass. The structure, Open and Close not within the previous bar . . . pass.
Yes I took some off the table at the 1st target, previous bar Low. I usually will give more leeway to the 2nd half position when they are high quailty setups like this one is to me.
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Jun 25, 2010 3:52am
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J16 Senior Member cczar
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Quote:
Originally Posted by extraneo
but you talk very well 
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Thanks extraneo
Just let me know when I get carried away or out of hand . . . I'll do that at times.
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Indicators show the past. Price Action "Indicates" the future.
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Jun 25, 2010 3:56am
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
Absolutely. The traffic . . . pass. The structure, Open and Close not within the previous bar . . . pass.
Yes I took some off the table at the 1st target, previous bar Low. I usually will give more leeway to the 2nd half position when they are high quailty setups like this one is to me.
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Just to add to this J.
Look at that big move down . . . then a big retrace up. . to retracement level(s) and BRN, PPZs  . .it just looked too good for me to pass on.
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Jun 25, 2010 4:04am
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J16 Senior Member cczar
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Quote:
Originally Posted by ghous
If ever the market would consistently move as swiftly as that post count.
I haven't been trading for a whole bunch of years but I see jarroo/price blowing through this BRN in no time.
jeez he'll do it while responding to your post Joel.
good ol' pri...jarroo. 
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You know me to well ghous. lol
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Jun 25, 2010 4:09am
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J16 Senior Member cczar
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Quote:
Originally Posted by mordre
New setup on 4H, EURAUD, in a downtrend on a swing high, at 23% ret. Comments please... 
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What's your target?
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Jun 25, 2010 4:17am
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J16 Senior Member cczar
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Let's see how it works out.
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Jun 25, 2010 4:18am
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J16 Senior Member cczar
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Quote:
Originally Posted by jspeakman
That's what tempted me - 61.8 Fib, BRN PPZ but but but.... - Looking for total perfection may be a little unrealistic - results in virtually nill trading (on dailies anyway)! This I think is a good example of basically a good trade (B+) i.e worth trading but mindful of the danger areas.
Potential weekly BEOB on this looks promising - bit small but in the right direction?
J
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I like your instincts J.
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Jun 25, 2010 4:26am
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J16 Senior Member cczar
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Quote:
Originally Posted by mordre
I spot a Fib confluence around 1.4849/65 where I will close half and BE.
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Any Daily or Weekly PPZ levels near by? Check that 1.4849 numer again
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Jun 25, 2010 4:31am
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
Let's see how it works out.
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1st Target or FTA hit . . . What do you do now??
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Jun 25, 2010 4:40am
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J16 Senior Member cczar
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Quote:
Originally Posted by mordre
There are a lot of Weekly lows and Daily lows and Highs around this area. The 1.4849 is 50% ret from this week's swing
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Those Weekly lows and Daily lows and Highs around this area are very important. They are the PPZ levels. How do they relate to your setup? Meaning do they support it or conflict with it?
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Jun 25, 2010 4:41am
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J16 Senior Member cczar
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Quote:
Originally Posted by mordre
MOve SL at 1.4936 above this hour bar high ? 
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Nice tight stop with the bar that breaks the setup . .I like it.
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Jun 25, 2010 4:44am
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J16 Senior Member cczar
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Quote:
Originally Posted by mordre
They support it only after they are broken, so the safe thing would be to take 50% off and BE how I did just now, and moved TP to 1.4815 due to my analysis above. :d
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Is this the Eur/Aud trade you posted? 1.48??
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Jun 25, 2010 4:51am
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J16 Senior Member cczar
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Quote:
Originally Posted by mordre
No, this is GU, 1.4815 was (61.8% ret of this week and around the daily range for GU) Not taking into account leaving the trade open overweekend
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Oh lol I was initially talking about the Eur/Aud post.
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Jun 25, 2010 4:53am
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J16 Senior Member cczar
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Quote:
Originally Posted by six gun
Now that is an interesting BEOB.
And on the daily a pin bar starting the move that created this BEOB
I am going to call it a pin bar but there is no left eye because of the gap and there is no proxy.
It feels like a pin bar and price reacted like it was a pin bar.
Did we miss that "pin bar"?
Is this the gap pin bar - I claim that, the SG Pin Bar.
I claimed something else last week but I don't remember what that was.
I miss stuff on the thread when I haven't been for a bit.
I think we miss so many in reality.
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BEOB that engulfs the gap . .that's new one for sure SG. Worked out nice.
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Jun 25, 2010 4:59am
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J16 Senior Member cczar
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Quote:
Originally Posted by six gun
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Sounds great SG. 
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Jun 25, 2010 5:12am
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J16 Senior Member cczar
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Quote:
Originally Posted by forexben
These are the types of set ups I have the most trouble analysing tbh. When there is a reversal bar after price has continued to shoot up or down. Of course BRN's, Fibs and PPZ in the area make the decision somewhat easier, though it's not as simple as when there has been a smaller retracement. I guess this is the opposite of having too little space.
Also, does anyone have any good links on playing continuation pins and BUOB/BEOB when price has continued to shoot up or down. Sort of feel like I'm asking too many (dumb) questions atm and not actually...
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I would check out all of James16's Charts and some of benji533's charts they have some examples of continaution setups.
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Jun 25, 2010 5:15am
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J16 Senior Member cczar
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Quote:
Originally Posted by fxprocessor
I think this is also worthy of FTA status 
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Yes, that would . . could it be a turning pont? We shall see.
Nice one fxp.
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Jun 25, 2010 5:27am
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J16 Senior Member cczar
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Quote:
Originally Posted by mordre
AQuestion for the big boys... Do you leave positions (like GU now) open over-weekend ?
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I ain't no big boy . . but It depends on the pip cushion I have going into the weekend less then 50-75 pips I may close it . My 1.5000 touch trade I would leave on. 
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Jun 25, 2010 5:28am
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J16 Senior Member cczar
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Quote:
Originally Posted by extraneo
turning point upwards or downwards?
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I took what fxp posted as upwards.
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Jun 25, 2010 6:01am
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J16 Senior Member cczar
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Quote:
Originally Posted by djmartymac
This pair is heading back to 1.05 RN. We have daily and weekly ppz and multiple fib conlfuence in this area. Some nice PA in this area early next week could be interesting. What do y'all think?
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Price sure looks like it got a beeline to the 1.0500. ( beeline? is that right?)
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Jun 25, 2010 6:03am
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J16 Senior Member cczar
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Quote:
Originally Posted by Jigsaw
Heh sweet price
What's your management going to be on this one ? I was short off the 1HR BEOB yesterday but exited my full positioin at the 1.4871 level.
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The Rac special . . . 1.5000, 30 pip stop loss. 
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Jun 25, 2010 6:05am
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J16 Senior Member cczar
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Quote:
Originally Posted by fxprocessor
Yes mate correct. I was referring to a possible breakout, pullback, continuation scenario. I am flat the market so have no preference but interesting to watch for now.
cheers
fxp
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Yes, breakout pullback . .I like to get under that line and call it a false breakout. lol
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Jun 25, 2010 6:10am
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J16 Senior Member cczar
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Quote:
Originally Posted by six gun
Definition Cambridge University Dictionary
make a beeline for
to go directly and quickly towards
At parties he always makes a beeline for the prettiest woman in the room.
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Thanks sChaos . . .ooops . . . thanks SG.
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Jun 25, 2010 6:12am
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J16 Senior Member cczar
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Quote:
Originally Posted by fxprocessor
Yes if under the line it could also provide momentum as it is a potential energy point with potential order clusters.
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I like the sound of that fxp. 
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Jun 25, 2010 6:22am
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J16 Senior Member cczar
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2nd target hit, which looks little stronger.
I like how Price tested the 1.4900 instead of the break. Good sign . . for now.
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Jun 25, 2010 6:34am
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J16 Senior Member cczar
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Quote:
Originally Posted by datogio
Missed this one too. TL and PPZ confluence...
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Nice one datogio. Looks like you use that .7000 to your advantage. 
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Jun 25, 2010 8:20am
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J16 Senior Member cczar
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Quote:
Originally Posted by ghous
That's exactly what I was talking about related to the Gu setup. It has that "Raccy" look to it which gives the experienced eye a heads up on sound locations.
A "jarroo" can look cool taking and managing these but we know what taking these can do to a newbie right?
Reminds me of the time when I was trying to copy jarroo about a year and a half ago...eeeehhh! Scary dreadful times for sure
g.
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Your right ghous. I should have be more aware of that and discussed the perils of a sub-A+ setup and the tight management required if it fits ones style. Even my own setups scary me at times. lol
Touch trades can be trickly at best and need to be demo strongly.
They do show how multiple confluences can provide a strong level but we need that added confirmation of strong PA.
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Last edited by jarroo, Jun 25, 2010 8:49am
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Jun 25, 2010 8:26am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Jarroo
Can you explain the reasons for taking that Daily PB?
I thought it was too small to be of interest.
Guess it was the sweet spot it came off?
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That was the most of it, the sweet spot. Much like Jig's 5min PB example, in a way. Shows the power of a great location. But when we add some strong PA formation to it, like that DOW example, magic happens.
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Jun 25, 2010 8:30am
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J16 Senior Member cczar
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Quote:
Originally Posted by mordre
Did you ever saw your TP not getting hit by 1 pip due to spread and then vanish in 5 minutes afterwards ? I just did on EurAud earlier. x( (closed on a 10 pip profit instead of 45)
But despite the potential profit loss, I am glad I got my target wright, that is more important.
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That's a solid hit in my book. Remember these are zones too. Just like PPZones. +/- 5 to 10 pips or more is what I use.
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Jun 25, 2010 8:44am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Thanks Jarroo...You are so kind with your super-fast explanation.
I hardly had time to finish typing my question. LoL
I am wondering if this D1 Bullish PB is a hint for next weeks direction, it seems to fit with mu weekly PB.
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Which one is that Pb? The one that hasn't closed yet?
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Jun 25, 2010 8:55am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Yes, todays PB and the weekly. I mean, they are hinting at the same direction.
I know neither of them has closed yet, I am asking this question working on the possibility that they may end up as Bullish PBs.
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I wouldn't even look at those in that way Pb, it can be very misleading. We always wait for the Close . . . always wait for the Close.
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Jun 25, 2010 6:37pm
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J16 Senior Member cczar
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Quote:
Originally Posted by ghous
That's exactly what I was talking about related to the Gu setup. It has that "Raccy" look to it which gives the experienced eye a heads up on sound locations.
A "jarroo" can look cool taking and managing these but we know what taking these can do to a newbie right?
Reminds me of the time when I was trying to copy jarroo about a year and a half ago...eeeehhh! Scary dreadful times for sure
g.
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Hey ghous . . . I should have just reposted this post from you.
Situation #3 . . Rules.
Quote:
Originally Posted by ghous
When little Pbs reverse trends they I bet are always located at a brilliant location.
Let me go over this a bit.
A j16 setup for us constitutes 2 elements.
1) PA Bar (shape etc)
2) Location (space, confluence etc)
Can a PA bar with full marks to it still create a move if the location department is inadequate? yes it can.
Can a good location with full marks to it still make a move if the bar department is inadequate? yes it can. hell that's what jarroo does day in and day out. Rac-man trades only off a good location...take that....
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Jun 25, 2010 7:46pm
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J16 Senior Member cczar
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I got some PMs (many in fact) so I thought I would post my reply or comments here. Important note: These are just my views on how I see things. I welcome any comments.
I would like to expand on ghous post in review of the small Gbp/Usd PB that broke today and the Gbp/Usd BEOB on Monday .
Quote:
Originally Posted by ghous
When little Pbs reverse trends they I bet are always located at a brilliant location.
g.
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"Great bars at great Locations".
Great Bars: Big in size; as they relate to previous bars or just damn Big ones. Structure; Open and Close within the previous bar (PBs), the Low is below the previous bar and/or the bars it engulfs (BEOB), the High is above the preivous bar and/or the bars it engulfs (BUOB), etc.
Great Locations: PPZ levels, BRNs and RNs, Swing High/Low, Space to limit traffic, Confluenced levels like retracement levels (Fibs, 50% ret.), Trendlines, MAs and PPZ levels. (yes, I know I said PPZ levels twice).
Great location is the most important part of this equation.
It is where Price seems to run from and where Price seems to run to. Just ask Mike about BRNs. That's what we talk about all the time, find the great location and wait for a great bar . . . why? because it works.
Next charts . . .
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Last edited by jarroo, Jun 25, 2010 8:34pm
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Jun 25, 2010 8:29pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
Next charts . . .
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The Gbp/Usd small PB.
What a great location . . . BRN, 1.5000, PPZ level, 61.8 fib level, . . its what we look for when searching for great locations. Now all we need is a great bar. We don't get a great bar, we get a small PB instead. Half of the equation is incomplete. Bad bar at a great location, (not the situation #3 ghous talked about) . . .pass on this one.
If you decide to take this one, the A+ management stlye goes out the window. Manage it tightly, move to break even quickly and/or take full or partial profit at the 1st target or FTA. More likely take full profit at the 1st target.
Good break of the setup. Price tends to retrace back to the break to retest it. The Hourly shows that the Price retraced not back to the break of the setup but to the 1.4900. A good sign that the setup has momentum and that the 2nd target will get hit.
2nd target Hit. Take full or partial profits, lower stops, etc. Tight management is required because this not an A+ setup. (not situatuion #3)
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Jun 25, 2010 8:44pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
The Gbp/Usd small PB.
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BEOB Gbp/Usd.
Not a bad bar in size and the location isn't bad, its at a swing High but no Space, alot of traffic. Pretty much in consolidation. Problems with both sides of the equation, mainly its location in terms of Space and traffic the bar size iiself not that bad although its not Great, an easy pass.
If you decide to take it, tight management required, Price come anywhere near the 1st target, take it.
Just thought I would share some thoughts on these setups.
Jim
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Last edited by jarroo, Jun 25, 2010 9:02pm
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Jun 25, 2010 8:53pm
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J16 Senior Member cczar
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Quote:
Originally Posted by raczekfx
Yeah, wait for the close.... the close.
We will get some very nice gaps on multiple currency crosses when the market opens on Sunday.... very nice.... 
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The plane . . .the plane. lol I'll be watching.
The break . . . . the break . .always wait for the break.
Touch trades can be a bit dodgy. . .any comments on this one Rac-man? 
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Jun 26, 2010 12:17am (47 hr ago)
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Thanks Jarroo, Yes, it all seems to boil down to waiting.
I shall learn this virtue ASAP.
In the meantime, I have a question about the 365 & 150 EMA.
The left chart is mine and shows the EUR/USD from Daily from Dec 30th 2006 and you can see that my 150 EMA is set to exponential close.
Now, the right chart is James 16 but we can see that the PA is bouncing off of the 150 EMA. Is there a reason that my EMA and James16's EMA are not the same? I thought these EMA are to be set at exponential and on the close, but obviously this is not the case...
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James16's chart is IBFX and you use FXDD. Two different brokers, with two different Closing times. Both EMAs are set at the Close, and both brokers have different Closes so the EMAs are going to differ based on those different Closing times.
"I shall learn this virtue ASAP." I don't know why that sounds so funny . . (jk)) lol
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Last edited by jarroo, Jun 26, 2010 1:11am (46 hr ago)
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Jun 26, 2010 12:25am (46 hr ago)
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
The A+ setup examples seem to be rare as of late but when they do appear, then tend to really standout.
Its all about waiting for them and being picky about their location, size, structure, confluences, etc. Why? Because when they do appear they can be worth the wait . . . to say the least.
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Update on this one. 3rd target Hit.
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Jun 26, 2010 12:53am (46 hr ago)
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J16 Senior Member cczar
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Quote:
Originally Posted by cprao
Attached is GBPCAD Weekly chart. It is technically BUOB since the low of this candle is low from the left candle.
Pros:
1. Not at absolute swing low, but at swing low
2. Bar size is good in relative to other bars
3. Engulfed 4 previous bars
4. started off at 1.5(BRN) and closed at 1.56
5. Broke the consolidation of the last 10 bars
Cons:
1. Against order flow
2. No FIB retracement since it is against order flow
3. ??
Execution details:
1. Entry - after the break of BUOB - (1.5670 + .0010 = 1.5680)
2. SL , convenional - low of the bar...
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Not to bad, definitely not A+.
Not at a swing low but the consolidation is at a swing low, this is good. The consolidation (or base) may be enough to take it to at least your 1st target, Daily PPZ 1.5900.
Just be aware that if Price does break the BUOB that it may retest the consolidation or the previous bar High of the BUOB.
Edit :oops that's where your alter S/L placement would be, previous bar High of the BUOB, well what do you know about that.
Should be fun to watch.
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Last edited by jarroo, Jun 26, 2010 1:10am (46 hr ago)
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Jun 26, 2010 1:05am (46 hr ago)
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J16 Senior Member cczar
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Quote:
Originally Posted by cprao
Thank you Jarroo.
Which previous bar low are you referring to ? Immediate to BUOB one ?
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Yeah that's the one, which is where you were thinking to place it anyways.
edit: Previous bar HIGH of the BUOB
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Jun 26, 2010 1:07am (46 hr ago)
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J16 Senior Member cczar
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Quote:
Originally Posted by cprao
Thank you Jarroo.
Which previous bar HIGH are you referring to ? Immediate to BUOB one ?
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My mistake . . my mistake . . previous bar HIGH . . sorry
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Jun 26, 2010 1:12am (46 hr ago)
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Ahh, I see my error now.
Yes, that does seem to be a rather contradictory statement. LOL
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I thought it was great, Pb. I understood what you meant. 
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Jun 26, 2010 1:29am (45 hr ago)
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J16 Senior Member cczar
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Quote:
Originally Posted by cprao
No problem at all.
Ok. Got you.. which is around 1.5300 ..
Immediate previous bar low is around 1.5000.
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Its a good rule of thumb on Outside Bars. Which is that they will retrace to their prievious bar High/Low.
Look at the Monthly Nzd/JPY.
Price is in a consolidation yet the BUOB and BEOB retrace back to their previous bar High or Low.
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Jun 26, 2010 1:39am (45 hr ago)
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Talking about mistakes....I must be downright crazy, blind, stupid or all three.
Why could I not see a PB on the daily like this one, notice the area it came off, put a fibo on it and take the damn thing?
Or even the BEOB before it after the PPZ broke. Aghghhhhhh^%@^%$^@(@&($@&(&(@$&(*@$ &(@$
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Easy buddy . .lol. Its not the Fib that did it, its what that fib lined up with that did it. Also a nice example of . .Support . . . Price breaking Support . . .then turning into Resistance.
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Jun 26, 2010 1:41am (45 hr ago)
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Thanks Jarroo that is a really good one to know.
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Got that one from James16 somewhere in this thread. lol
later gotta go.
Jim
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Jun 26, 2010 7:56pm (27 hr ago)
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J16 Senior Member cczar
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Quote:
Originally Posted by Atc
Jarroo,
Makes alot of sense....here is a trade I took yesterday 8h BEOB with the retrace that you talk about.
Thanks for pointing this out. I have also noticed this but needed to hear this.
Bill
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Nice one Atc. Price hit its target(s) nicely. Well done.
Not sure where your Fib is coming from. Even at the most recent High and Low there a bit dodgy.
Its mainly . . . PA at a swing high . . . at a PPZ level (1.4200), the size looks good too.. Nice. 
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Jun 26, 2010 8:16pm (27 hr ago)
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Jarroo
I have been thinking about the OB and the test of the previous bar high or low.
If the bar after the OB tests the high of the previous bar as in the chart below, then breaks the low, I imagine this is further confirmation that the OB is invalid.
I mean, in this scenario we have a BUOB which fails.
Thanks in advance and I hope you are having a great weekend.
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Yes, I would agree with that PB. Once the BUOB didn't respect the previous bar High I would say "something is going on here". Then when it broke the Low of the BUOB it would then be invalid and failed.
But we know what's going on here . .remember the 1.1143ish. . . its that PPZ level that's holding strong.
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Jun 26, 2010 8:20pm (27 hr ago)
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J16 Senior Member cczar
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Pb . . What you think of this 2 Month BUOB on the Usd/Chf? Its now testing its previous bar high. 
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Last edited by jarroo, Jun 26, 2010 8:56pm (26 hr ago)
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Jun 26, 2010 8:38pm (26 hr ago)
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J16 Senior Member cczar
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Quote:
Originally Posted by novice198
Jarroo,
Very good analysis, but even more difficult to play if one decides to have go at it for the following reason:-
Daily PB low 1.4914. If we give a gap of 10 pips to ensure that PB is broken then we should be placing a sell stop at 1.4904 and that is selling into a RN 1.4900. So the sell stop is placed at 1.4894. (Is this strategy for entering close to RN correct to ensure one is not trading straight into a RN)
The FTA marked in your chart is too close to my entry and my FTA would be the 50% Fib level 1.4865 to previous bar highs around 1.4850...
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Very nice N198
You pointed out all of the traffic in this setup that made it an easy pass. Well done.
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Jun 26, 2010 8:51pm (26 hr ago)
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J16 Senior Member cczar
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Quote:
Originally Posted by Dan-FX
Great post, it's very useful to see how you disect the charts, your use of price action and support/resistance for exits.
What I struggle with is getting my head round the risk v reward. This may because i'm assuming you had a stop above the high of the daily bar. I appreciate as well this would not be regarded as an A+ setup so this maybe why your exits are more aggressive?
Thx
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That's exactly my point, Dan. Aggressive on the S/L and the Targets(exits). You have to be if you choose take situation #1 or situation #2.
As you grow in to this, you will only take situation #3 no matter how long it may take.
I'm not a big R:R guy . . . I'm a high quailty setup, clear target, well placed S/L kind of guy. If that makes sense.
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