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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #142,621
  • Dec 15, 2018 12:33pm Dec 15, 2018 12:33pm
I'm just a beginner and a pin bar for me the most understandable but I hope that by reading this thread and practicing on the demo with time I will master and other patterns price action. Florinnelz Thank you VERY much for your answers and comments!
  • #142,622
  • Dec 15, 2018 12:49pm Dec 15, 2018 12:49pm
Florinellz you say: "if i want to trade the breakout of the box, i "need" a different PA than the pinbar( BOUB,BEOB, DBHLC, DBLHC)". But Is it possible to wait for a breakthrough level (zone) and then return the price to this level and wait for the pin bar? Or is that not the best idea? Hope you will understand that I here wanted to ask. Sorry, my English is terrible
  • #142,623
  • Dec 15, 2018 1:02pm Dec 15, 2018 1:02pm
Aleks you mean something like this( my pic)? if that is what you said, then is also an idea to play a breakout of the box

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  • #142,624
  • Dec 15, 2018 1:53pm Dec 15, 2018 1:53pm
Yes, thank you Florinellz, that's what I meant.
  • #142,625
  • Dec 17, 2018 10:14am Dec 17, 2018 10:14am
Quoting Aleks90
I also remember James or Mike's post. They said that the location of the pin bar on the chart is much more important. In this case, the pin bar may not look perfect. If I understood correctly, the ideal pin bar in this branch is considered to be the one with a tail of at least 70% of the bar range. And the closing of the bar does not go beyond the previous bar. And the tail should stick out as much as possible. This is exactly the pin-bars! {image}
Well when trading technically in a fundamental background, I dont think pinbars are what professionals go after. Never heard Soros talk about pinbars. Just monthly or weekly pivot levels that fulfill pivot point theory.
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  • #142,626
  • Dec 17, 2018 10:46am Dec 17, 2018 10:46am
The essence of the pin bar as I understand it - this is a false breakthrough. When you have a Deposit of $ 100,000, trading pin bars is convenient and profitable. But if Your capital as Soros (25 000 000 000$) As You will be trading the pin bar on the D1? You don't have enough liquidity. The risk of 1% of the Deposit for Soros is 250 000 000 dollars. With a stop order of 100 points (0.0001), this is 250 Lot. Is it serious? 250 lots? For a pin bar on D1? I am sure there are different optimal methods and strategies of trading for different capital. My capital is now less than $ 10,000 and I am completely satisfied to trade on D1 pin bars located on the support and resistance zones. I'm just looking for what's best for me. My best regards!

P.S. I will be happy to accumulate such capital that when trading pin bars on D1 I will not have enough liquidity. That's when I think about how Soros trades. According to my calculations, a pin bar can be traded even when Your capital is $ 1,000,000 (risk per transaction 2-3%). Although if you trade 20 lots could be strong slippage.
  • #142,627
  • Edited 12:17pm Dec 17, 2018 12:03pm | Edited 12:17pm
Quoting Aleks90
The essence of the pin bar as I understand it - this is a false breakthrough. When you have a Deposit of $ 100,000, trading pin bars is convenient and profitable. But if Your capital as Soros (25 000 000 000$) As You will be trading the pin bar on the D1? You don't have enough liquidity. The risk of 1% of the Deposit for Soros is 250 000 000 dollars. With a stop order of 100 points (0.0001), this is 250 Lot. Is it serious? 250 lots? For a pin bar on D1? I am sure there are different optimal methods and strategies of trading for different capital....
hahaha hey if it works for you, who am I to argue? More power to you!

However, I think you misunderstood what the point was.

That daily chart was just to show the pin bars beginning at pivot levels where sellers exit, as they are supposed to and buyers enter as they are supposed to.

I enter on a 5 minute chart with appropriate daily,weekly or monthly pivot levels as support or resistance, in light of the macrotrend.

Point about Soros was that levels are important to him. I am sure he enters at his own LEVELS possibly against the trend for maybe a year!

My further point is that market support and resistance (PIVOTS) are important and can create these "pinbars". That is all I was trying to say.

1/3 .... the pin as seen on a day chart
2/3 ..... the anatomy of that same pin on a 1 hour chart
3/3 ...... the entry and stop loss levels as dictated by pivots.

So when I buy early at the requisite pivots (I dont know its a pin on a higher time frame) my risk is actually lower. The pin which i see later that day or the next day just means there was rapid buying are the right pivots and tells me I am on the right side of the trade at much better prices ie 45 to 50 pips earlier at least.
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  • #142,628
  • Dec 17, 2018 1:02pm Dec 17, 2018 1:02pm
I think that understand your idea.The that you write reasonably. A little later, I also plan to try on the demo the way you wrote.

Thank you for the detailed answer. Good Luck To You!
  • #142,629
  • Dec 18, 2018 12:42pm Dec 18, 2018 12:42pm
Quoting Aleks90
I think that understand your idea.The that you write reasonably. A little later, I also plan to try on the demo the way you wrote. Thank you for the detailed answer. Good Luck To You!
Cool. Have fun trying it out over the holidays.
  • #142,630
  • Edited 12:43pm Dec 20, 2018 10:11am | Edited 12:43pm
just want to say: Have a nice holiday and Merry Christmass
See you next year
P.S. be careful; this time of the year is very hard to trade; better stay away from the market until next year
  • #142,631
  • Dec 20, 2018 3:34pm Dec 20, 2018 3:34pm
Quoting florinellz
just want to say: Have a nice holiday and Merry Christmass See you next year P.S. be careful; this time of the year is very hard to trade; better stay away from the market until next year
Likewise F
  • #142,632
  • Dec 24, 2018 10:11am Dec 24, 2018 10:11am
And I also join the congratulations! All in this thread happy new year, especially Mallee and Florinellz! Thanks guys and good Luck!
  • #142,633
  • Dec 24, 2018 9:45pm Dec 24, 2018 9:45pm
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Success is a Journey Not a Destination....... kind regards ramzam
  • #142,634
  • Dec 29, 2018 2:06am Dec 29, 2018 2:06am
DBLHC on ASX200 index Weekly retrace entry off 5600 might be nice..
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  • #142,635
  • Dec 31, 2018 1:31am Dec 31, 2018 1:31am
First time doing this. Hopefully there are some people still around to help me.

Ive gone short AUDNZD after 1 Hr pin at last weeks high 365 period EMA providing confluence.
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  • #142,636
  • Jan 1, 2019 11:17pm Jan 1, 2019 11:17pm
Quoting kiai4x
First time doing this. Hopefully there are some people still around to help me. Ive gone short AUDNZD after 1 Hr pin at last weeks high 365 period EMA providing confluence. {image}


So....Ive just closed the bigger position for 3R and I Am letting the other position run.....Couldnt have asked for a better start.
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  • #142,637
  • Jan 2, 2019 2:17pm Jan 2, 2019 2:17pm
OIL.WTI – How long we are to wait for Long ? – 02/01/2019

OIL.WTI – I wrote about it in the analysis from December 26th, when a Price Action growth formation appeared – bullish engulfing or if you prefer “Outside Bar”. Then, on the Daily chart, appeared a bullish divergence supporting me in the belief that we can expect a correction which, with a continuing strong downward trend, was a rather risky assumption. Until the end of the year, the price of Texan oil was moving in a narrow consolidation and we did not see any increases, but also decreases were limited to the level indicated in that December’s analysis.
more: http://comparic.com/oil-wti-long-wait-02012019/
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It's tough to make predictions, especially about the future...
  • #142,638
  • Jan 3, 2019 2:54pm Jan 3, 2019 2:54pm
Hi guys! I look at the charts and see the pin bars. But these pin bars scare me and I don't want to make trades. Tell me what's wrong with these pin bars, I can't bring myself to trade them?
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  • #142,639
  • Jan 3, 2019 5:21pm Jan 3, 2019 5:21pm
Quoting Aleks90
Hi guys! I look at the charts and see the pin bars. But these pin bars scare me and I don't want to make trades. Tell me what's wrong with these pin bars, I can't bring myself to trade them? {image} {image}
Hi Al,those pins were the result of a flash crash yesterday.There are heaps of them on today's charts , notice also that in all cases the spikes were in the direction of the trend.This is a time of low liquidity which exacerbated the spikes. I'd expect the treds to resume. Lol, I could be wrong.Cheers
  • #142,640
  • Jan 3, 2019 9:35pm Jan 3, 2019 9:35pm
"Flash Crash"??
Was that what it was? Whatever it was I made a killing from a GPD/AUD buy yesterday
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