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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

  • #3,741
  • May 23, 2007 8:17pm May 23, 2007 8:17pm
Put on the monthly charts and zoom out a LOT. That's not the all time high
  • #3,742
  • May 23, 2007 9:25pm May 23, 2007 9:25pm
wow, didn't look back far enough! should've waited for swing high at 571
  • #3,743
  • May 24, 2007 2:41am May 24, 2007 2:41am
Hi all,
Can anyone give me their ideas about usdjpy? We seem to be at a strong s/r point, and yesterday's daily bar gave us a not perfect pin,but I like its placing. If we go down to a 4hr chart there was also a pin that would have put you short from 121.60...any thoughts? Thanks...Raz
Never say never.
  • #3,744
  • May 24, 2007 4:08am May 24, 2007 4:08am
a pin bar on the sp500 yesterday ?
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Click to Enlarge Name: pin bar.jpg Size: 32 KB
  • #3,745
  • May 24, 2007 4:10am May 24, 2007 4:10am
also, the pin bar reminds me of the joe ross "squeezeplay"....? on a higher timeframe, the squeezeplay will look like a pin bar...
Attached Image
  • #3,746
  • May 24, 2007 4:12am May 24, 2007 4:12am
Quoting razldazl
Hi all,
Can anyone give me their ideas about usdjpy? We seem to be at a strong s/r point, and yesterday's daily bar gave us a not perfect pin,but I like its placing. If we go down to a 4hr chart there was also a pin that would have put you short from 121.60...any thoughts? Thanks...Raz
From my chart I see usdjpy trying to break support 121.31. The drop should accelerate below 121.31...
comment: early short entry is showing me 13 pips profit already!

gbpjpy - 60 pip drop started by a small pin bar on the hourly and it's still going nicely.
  • #3,747
  • May 24, 2007 5:04am May 24, 2007 5:04am
Quoting Goozman
gbpjpy - 60 pip drop started by a small pin bar on the hourly and it's still going nicely.

Let me post some stuff, too =)
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Trust price. Know yourself.
  • #3,748
  • May 24, 2007 9:07am May 24, 2007 9:07am
Quoting Goozman
From my chart I see usdjpy trying to break support 121.31. The drop should accelerate below 121.31...
comment: early short entry is showing me 13 pips profit already!
Got out for -2 pips.
  • #3,749
  • May 24, 2007 9:20am May 24, 2007 9:20am
Quoting peter100
a pin bar on the sp500 yesterday ?
Peter100, did you take this short in a live account?

The DJIA also had a pin pointing to a reversal but it is heading up sharply and has already broken the previous session highs.
  • #3,750
  • May 24, 2007 10:16am May 24, 2007 10:16am
yes, i took it lightly with a couple of CFDs...but some wired action over there...hope it will put in a swing high and pull back a bit...not a "good" pinbar anyway...lets see...todays a suckers playtime, i hope they sell off into the close like yesterday...SL around 30
  • #3,751
  • May 24, 2007 10:35am May 24, 2007 10:35am
I think it was a good pin whether it works or not...
  • #3,752
  • May 24, 2007 1:07pm May 24, 2007 1:07pm
I did some testing on Pins with the pdf files provided. these pins are awesome....I did what james said about just looking at pins over past 6 months. so at this point, its a great setup....but thats all it is a setup. now i need to convert it into a trading system with specific entry and exit rules. I need to read this thread more or come up on my own.
Contact me for Custom Indicators/EAs.
  • #3,753
  • May 24, 2007 1:19pm May 24, 2007 1:19pm
btw, usdcad had a pin bar on the 1h with the low at 10804 for a long trade...could start a nice rally
  • #3,754
  • May 24, 2007 1:31pm May 24, 2007 1:31pm
daily/weekly time frames yes they are great. lower time frames must be used with caution and a high degree of pin pointing based on s/r. someone starting out with one hour without a solid background in other areas is going to find themselves in trouble. nothing wrong with demo but real money should start with large times frames and worked down.

jim



Quoting zalakinc
I did some testing on Pins with the pdf files provided. these pins are awesome....I did what james said about just looking at pins over past 6 months. so at this point, its a great setup....but thats all it is a setup. now i need to convert it into a trading system with specific entry and exit rules. I need to read this thread more or come up on my own.
  • #3,755
  • May 24, 2007 1:34pm May 24, 2007 1:34pm
zala,

i also read the primer and it seems to me, that all depends on picking the "right" pin bars...so, to define the price action "context" (higher timeframe trend structure) in which pin bars must occur is important here...the system parts are already there, namey scaling out and entry trigger on break out of the low of the pin bar and SL on the high (and vice versa)...just my impression
  • #3,756
  • May 24, 2007 1:55pm May 24, 2007 1:55pm
It is good to see you posting again Jim.

Whats the news on the web site or book. I'm eagrly waiting.
  • #3,757
  • May 24, 2007 2:27pm May 24, 2007 2:27pm
Quoting fayeaa0d
It is good to see you posting again Jim.

Whats the news on the web site or book. I'm eagrly waiting.

Yes it is...I am craving some PA videos
  • #3,758
  • May 24, 2007 2:52pm May 24, 2007 2:52pm
There are already some very cool Videos in the PF
---

Since folks have been posting indices, the early warning finally kicked in today.
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Trust price. Know yourself.
  • #3,759
  • May 24, 2007 2:57pm May 24, 2007 2:57pm
And since these are correlated lately, the EURJPY as representative for the xxxJPY / carry.

Breaking 162.85 s/r as I am typing this...danger Will Robinson.


Didn't take this as I was still long GBPJPY last night from the IB break up and was straining my margin either way :S

Notice that PB break also almost coincided with that IB low break the day before.
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  • #3,760
  • May 24, 2007 2:59pm May 24, 2007 2:59pm
Quoting peter100
zala,

i also read the primer and it seems to me, that all depends on picking the "right" pin bars...so, to define the price action "context" (higher timeframe trend structure) in which pin bars must occur is important here...the system parts are already there, namey scaling out and entry trigger on break out of the low of the pin bar and SL on the high (and vice versa)...just my impression
Yes you are right...it has the stop loss and entry information...I guess we still need to figure out how to lock in some profits and how much...and when to close the whole position.
Contact me for Custom Indicators/EAs.
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