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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

  • #3,701
  • Edited 1:56pm May 20, 2007 1:31pm | Edited 1:56pm
Quoting hidethereal
I'll be shorting it Monday due to the dollar index COT report, US is coming off extremes.
Don't we rather have double bottom at 10-11.05 and 18.05 + light weekly up TL met on Friday?

I'm long since Friday, just +30 pips so far... (EURUSD)
  • #3,702
  • May 21, 2007 10:38pm May 21, 2007 10:38pm
Thanks for this thread. I am very new to this thread & forex. The 1st pg of this thread started w/ charts. Where would I go to see the actual set-up?
Thnx, Sid
  • #3,703
  • May 21, 2007 10:48pm May 21, 2007 10:48pm
Quoting yendis70
Thanks for this thread. I am very new to this thread & forex. The 1st pg of this thread started w/ charts. Where would I go to see the actual set-up?
Thnx, Sid
Hey Sid,
Welcome to the start of your journey. This thread has tons of pages of information. The information is not meant for real time trading signals. Instead it is intended to start your foundation to learning how to trade price action. I recommend going through each and every post and taking notes.

Best of luck,
Mike
  • #3,704
  • May 21, 2007 11:11pm May 21, 2007 11:11pm
I've started doing that already. And I'm overwhelmed by the knowledge & the technical tools utilized in this FF forum. I'm addicted enough to forex to keep plugging away.
Sid
  • #3,705
  • May 21, 2007 11:16pm May 21, 2007 11:16pm
Quoting yendis70
I've started doing that already. And I'm overwhelmed by the knowledge & the technical tools utilized in this FF forum. I'm addicted enough to forex to keep plugging away.
Sid
That is what it is all about bro. It is quite a ride, and I think it is one of the most enjoyable rides. You picked a great place to start your education. Please feel free to ask questions or PM directly if there is anything you need.

Best of luck,
Mike
  • #3,706
  • May 21, 2007 11:46pm May 21, 2007 11:46pm
if all you new guys will just do the following for the next 3 to 6 months then i can promise you something. you will be glad you did. forget about all the confusing different indicators, approaches and systems and do something very simple.

for the next several months just demo daily and weekly pin bars. nothing else.
you will gain confidence instead of blowing your brain and account out trying to learn and do something different every other day. get your feet on the ground and then move into more complicated areas. its a process that takes practice and some time. the road to even a slowly growing account is littered with broken dreams, savings accounts, marriages, retirenment accounts and yes even lives. it happens because people do crazy things when they start out in this business. things they would never do in any other area of thier life.

couple of charts
Attached Image (click to enlarge)
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  • #3,707
  • May 21, 2007 11:50pm May 21, 2007 11:50pm
chart
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Click to Enlarge Name: gh.jpg Size: 59 KB
  • #3,708
  • May 21, 2007 11:56pm May 21, 2007 11:56pm
chart
Attached Image
  • #3,709
  • May 22, 2007 2:25am May 22, 2007 2:25am
I took this trade, currently in it....i had a pullback bias on cad.jpy and this helped confirm my bias and intiate a trade. Target around 111.35 so long as 111.65 gives away.

thanks james16!

http://topshelfav.com/pub/fl_tradin/070522.f.dtlc.png
  • #3,710
  • May 22, 2007 2:40am May 22, 2007 2:40am
Quoting fl_tradin
I took this trade, currently in it....i had a pullback bias on cad.jpy and this helped confirm my bias and intiate a trade. Target around 111.35 so long as 111.65 gives away.

thanks james16!
just a heads up for it to be a valid DBHLC the second bars close needs to close lower then previous bars low. That is more like a TBH/TBL break

Best,
M
  • #3,711
  • May 22, 2007 3:27am May 22, 2007 3:27am
Quoting fl_tradin
I took this trade, currently in it....i had a pullback bias on cad.jpy and this helped confirm my bias and intiate a trade. Target around 111.35 so long as 111.65 gives away.

thanks james16!
it seems to me more like a pretty 2 x 15m pinbar with a lower close of the right eye

Kpt
  • #3,712
  • May 22, 2007 5:30am May 22, 2007 5:30am
Hi all,
does a BEOB have to close lower than the previous bar or just close lower than the close, I know the bar has to encompass the earlier bar, but Im not sure about the close...thanks
Never say never.
  • #3,713
  • May 22, 2007 5:34am May 22, 2007 5:34am
Quoting razldazl
Hi all,
does a BEOB have to close lower than the previous bar or just close lower than the close, I know the bar has to encompass the earlier bar, but Im not sure about the close...thanks
yeah for a good beob we want the close to be lower then previous bars low as well.
  • #3,714
  • May 22, 2007 5:37am May 22, 2007 5:37am
Quoting mbqb11
yeah for a good beob we want the close to be lower then previous bars low as well.
thanks mike,
I saw an "almost" BEOB on eur 4hr... hmm and on daily as well, it could be another pointer down after breaking the tbl ....
Never say never.
  • #3,715
  • May 22, 2007 8:14am May 22, 2007 8:14am
Quoting the_wizard
That's not a DBHLC - it's an IB4.

You could play it either long or short on the break.

I personally don't trade with targets but the ones you mention appear valid enough.
i'm sorry for not answering earlier
i was away
thank you very much for your care
  • #3,716
  • May 22, 2007 9:30am May 22, 2007 9:30am
Quoting james16
if all you new guys will just do the following for the next 3 to 6 months then i can promise you something. you will be glad you did. forget about all the confusing different indicators, approaches and systems and do something very simple.

for the next several months just demo daily and weekly pin bars. nothing else.
Can you clarify the definition of a PIN bar?

I think that for a bearish pin, the open & close need to be in the bottom third (or half) of the bar & the high needs to be above the previous bar high. Are there any other requirements?

Thanks
  • #3,717
  • May 22, 2007 9:48am May 22, 2007 9:48am
Quoting james16
if all you new guys will just do the following for the next 3 to 6 months then i can promise you something. you will be glad you did. forget about all the confusing different indicators, approaches and systems and do something very simple.

for the next several months just demo daily and weekly pin bars. nothing else.
you will gain confidence instead of blowing your brain and account out trying to learn and do something different every other day. get your feet on the ground and then move into more complicated areas. its a process that takes practice and some time. the road to even a slowly growing account is littered with broken dreams, savings accounts, marriages, retirenment accounts and yes even lives. it happens because people do crazy things when they start out in this business. things they would never do in any other area of thier life.

couple of charts
Hi James,

I have been through the thread once and am recapping a few areas at the moment.
This might seem like a silly question but can I just ask when you say use daily and weekly charts as these are much more consistant where PA is concerned, is this the only reason for using these longer TF’s ?
I realise obviously things move more quickly on the shorter timeframes and less pips are expected. But just wondered if there were more reasons ???

Stay Lucky.
Mimas.
  • #3,718
  • May 22, 2007 9:51am May 22, 2007 9:51am
Quoting charlies
Can you clarify the definition of a PIN bar?

I think that for a bearish pin, the open & close need to be in the bottom third (or half) of the bar & the high needs to be above the previous bar high. Are there any other requirements?

Thanks
Here's a couple of files that were put together by lwoo034 that explain PB's in full.
Attached File(s)
File Type: pdf Pin bars-introduction.pdf   175 KB | 1,132 downloads
File Type: pdf Pin bars-advanced.pdf   113 KB | 1,077 downloads
  • #3,719
  • May 22, 2007 10:18am May 22, 2007 10:18am
Quoting mimas
Hi James,

I have been through the thread once and am recapping a few areas at the moment.
This might seem like a silly question but can I just ask when you say use daily and weekly charts as these are much more consistant where PA is concerned, is this the only reason for using these longer TF’s ?
I realise obviously things move more quickly on the shorter timeframes and less pips are expected. But just wondered if there were more reasons ???

Stay Lucky.
Mimas.
The larger the timeframe the stronger the signals. A pinbar on the weekly is stronger then a pinbar on the daily and all the way down. Another reason is noise. Trading intraday 15 min charts, a lot of what you are seeing is plan old noise, and people just get chopped to death. The smaller the time frame the more people tend to overtrade. Overtrading = blowing up for so many people. Larger timeframes are less stressful, less time consuming, and produce lots of pips!

Unfortunatley many people are drawn to forex b/c of the high leverage and their gambling sides come out. People believe that you always need to be in the market, so they pull up that 15 min timeframe and just trade themselves into a hole.

Hope that clears it up a bit, James is one smart JACKED dude

Mike
  • #3,720
  • May 22, 2007 12:28pm May 22, 2007 12:28pm
Quoting mbqb11
The larger the timeframe the stronger the signals. A pinbar on the weekly is stronger then a pinbar on the daily and all the way down. Another reason is noise. Trading intraday 15 min charts, a lot of what you are seeing is plan old noise, and people just get chopped to death. The smaller the time frame the more people tend to overtrade. Overtrading = blowing up for so many people. Larger timeframes are less stressful, less time consuming, and produce lots of pips!

Unfortunatley many people are drawn to forex b/c of the high leverage and their gambling sides come out. People believe that you always need to be in the market, so they pull up that 15 min timeframe and just trade themselves into a hole.

Hope that clears it up a bit, James is one smart JACKED dude

Mike
Hi Mike,
Just a quick post to say a big thankyou for confirming that......your a very helpful chap....I have to agree on the 15m TF is what I used to trade that and getting chopped to death is a good analogy, one bit of news and your outa there.......!
Also agree it seems to me the more you trade the less you make.... it is as you say people feel they have to be trading full time.
Agree James is a smart cookie alright but Mike your not doing so bad yourself.....!
Stay Lucky.
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