J16 in candlestick

James16

The best thing you can get in public forum. Discussing Support, Resistance, Pivots and of course... Price Action!

Here's a summary of the main price actions in candlestick.

PINBAR


BUB(BULLISH BAR)


BEB(BEARISH BAR)


BEOB(BEARISH OUTSIDE BAR)


BUOB(BULLISH OUTSIDE BAR)


DBHLC(DOUBLE HIGH LOW CLOSE)


DBLHC(DOUBLE LOW HIGH CLOSE)


IB(INSIDE BAR)

Let's put Fibo into Price Action (inspired by posts in J16)



The chart speaks itself.

PA is identified (BEOB), Wait for retracement up to 38.2 (our favourite). Short upon retracement.

I think this is very much objective in term where some trader advise "when an entry is identified (break S/R or PA identified), wait for price to reverse a little before entry"

With Fibo, everything is objective!


LSs

Here's another BEOB + FIBO



Here price retraces but went a little up. So, advisable to place SL above BEOB high (+spread of course)

Anyway, observation here.. you guys seeing the 423.6 Fib Level?



LSs

If one Fib is good resistance enough... how bout 2 Fibs?

An even greater resistance!

Definition :

PPZ are where many orders are being placed. A PPZ can vary in size of pips depending on time frame. Meaning it is not simply just a straight line but a range. (I know, not objective.. some help?)

Inside Bar (IB) shows the tug of war between buyers and seller. The more it occurs in a row, the more furious the war and once it breaks, a fast move will occur.

Hence, he advised to find IB in a row.. and when it breaks down, for example, approaching a Pivot, many buy order will be placed pushing price back up.

*ponder ponder*

A repeated sentence in the forum :

Draw the pivot points and Fibos on your chart and wait for the price to react with them. Patience.

[u]

Some Charts to accompany PPZ (credit to J16) :








LSs

First you learn to read PA.

So you open your chart and see a BUOB and assume price will go higher.

Then you begin to learn about location.

Then you add in support/resistance, other confluence, and then

the pieces will begin to fall into place.

Case example : will you take a BUOB at a swing high?





LSs

Again, the location is the key to correct PB. Here is definitely a refreshing look on PB with the A+ location





LSs