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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

  • #4,281
  • Jul 1, 2007 12:59pm Jul 1, 2007 12:59pm
[quote=jarroo;1482055]I try to avoid time frames lower then the 4 hour. The Cad has been very good to me or is it that my James16 trading is getting better, I expect the latter.

Jim

Nice analylsis. Simple but very informative. Your exit I am assuming was when the Cad was on the way up
  • #4,282
  • Jul 1, 2007 1:51pm Jul 1, 2007 1:51pm
[quote=goodthings;1482120]
Quoting jarroo
I try to avoid time frames lower then the 4 hour. The Cad has been very good to me or is it that my James16 trading is getting better, I expect the latter.

Jim

Nice analylsis. Simple but very informative. Your exit I am assuming was when the Cad was on the way up
Yes it was exited on the way up. I was going to buy once it blew past the pivot zone but i usually get burned when i trade against the trend. (don't we all)

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #4,283
  • Jul 1, 2007 3:05pm Jul 1, 2007 3:05pm
Hello guys, how I hope that all of you had a very nice weekend.

I was thinking on how it will be great to have pin alerts using a news feed system.

Waiting for your feedback.
  • #4,284
  • Jul 1, 2007 4:15pm Jul 1, 2007 4:15pm
i agree. I am a web dev/ programmer so the alert can be made into a small client program if necessary, or simply email
100% of traders are losers. Just that some win more than they lose!
  • #4,285
  • Jul 1, 2007 4:33pm Jul 1, 2007 4:33pm
Quoting Mr demark
i agree. I am a web dev/ programmer so the alert can be made into a small client program if necessary, or simply email

..and then you get woken up in the middle of the night for an IB which has the shape of a PB and is completely engulfed and not valid at all...what a party...

People, you don't have to catch every bar ever made to be profitable, 16 hours awake every day are PLENTY chance to catch big moves and if not on 4h, there are DAILY bars that are not that much worse...

Don't be chasers, that sort of approach can prove highly detrimental...and boy, do I know

Automation never can nor will replace discretion for this sort of trading, although you will end up trading it almost automated at some point if all goes well ;P

At least Mike's shown us all a good example for that


*straight no chaser springs to mind....<3 good music*
Trust price. Know yourself.
  • #4,286
  • Jul 1, 2007 10:17pm Jul 1, 2007 10:17pm
CAD has pins on monthly, weekly and daily.... Let see because the friday pin with that long wick down made posible the pins on those other timeframes...
More comments on this one??? anyone?

Matty

PS: i will personally wait for a break or something, then i will take a look and decide.. its againts that huge downtrend, so can be a risky one...

Good trading guys
Attached Image (click to enlarge)
Click to Enlarge Name: cad daily.jpg Size: 63 KB
  • #4,287
  • Jul 1, 2007 11:11pm Jul 1, 2007 11:11pm
The 4-hr pin from Friday didn't hold, and I was stopped out for a loss. Anyone else take this one?
  • #4,288
  • Jul 2, 2007 2:20am Jul 2, 2007 2:20am
  •  zinc6
  • | Joined May 2007 | Status: don't just do something, sit there! | 54 Posts
Quote
The 4-hr pin from Friday didn't hold, and I was stopped out for a loss. Anyone else take this one?

Almost ... and I did take the NZD/USD on which I got stopped out for a loss ... still "can't win em all". Made nice pips on EUR/CAD long on Friday anyway...
  • #4,289
  • Jul 2, 2007 3:07am Jul 2, 2007 3:07am
Quoting SeekingLight

Automation never can nor will replace discretion for this sort of trading, although you will end up trading it almost automated at some point if all goes well ;P

Hi there SeekingLight,

Thank you for your feedback, and I can tell you that I agree with you.

This can't be automated, and that's not what I was trying to say, I just think that it would be great to have pin bar notifications so that we can take a look at them and analyze them, before to do something else.

Thanks
  • #4,290
  • Jul 2, 2007 5:42am Jul 2, 2007 5:42am
Quoting goodthings
Technically what is the best way to play a 4hr pin like this one?

After posting this I read some previous posts and I think James has answered it on the large part. Any other comments from those familar with James' teachings on playing pin bars is appreciated.

If I am correct techically speaking the bar you are refering to was not a PB since it didn't open and close within the previous bar - even though it behaved like a PB afterwards (that is, price retraced and went long-but that is hindsight).
  • #4,291
  • Jul 2, 2007 7:39am Jul 2, 2007 7:39am
Hi all,
this would have been a nice breakout trade if you had put a buy order and a sell order above and below the two tbl's and tbh's, on the daily chart
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf daily.jpg Size: 64 KB
Never say never.
  • #4,292
  • Jul 2, 2007 8:00am Jul 2, 2007 8:00am
I just popped 120 pips off gbpchf. but could've gotton 210 or more. I exited too early
http://i8.tinypic.com/4ous1ud.gif
100% of traders are losers. Just that some win more than they lose!
  • #4,293
  • Jul 2, 2007 8:20am Jul 2, 2007 8:20am
Quoting Mr demark
I just popped 120 pips off gbpchf. but could've gotton 210 or more. I exited too early
No kidding

4h BEOB off .786 + weekly PB = early entry. Short from 2.4655, holding. Took profit twice already at crucial spots for me.

It's a weekly setup and looking at the daily bars moving up vs these moves now it all looks very very fragile.
Attached Image
Trust price. Know yourself.
  • #4,294
  • Jul 2, 2007 8:43am Jul 2, 2007 8:43am
Quoting Gmak
don't want to clog up the thread, however I just became a member of this group last week and have no clue how to navigate to it within forex factory.

Any help will be gratefully recieved

Gmak, another tip that might be helpful: go to "Thread Tools" and subscribe to this thread. Then when you go to the site, after you go to forums, go to "user cp" at the top, and it will show all subscriptions you have! By default I think it adds a subscription to every thread you post to though, so you may already be subscribed!
  • #4,295
  • Jul 2, 2007 11:06am Jul 2, 2007 11:06am
Nicely done Mr. demark and SeekingtheLight!!! Congrats! Now you can enjoy your 4th of July a little bit more eh?

Quoting Mr demark
I just popped 120 pips off gbpchf. but could've gotton 210 or more. I exited too early
  • #4,296
  • Jul 2, 2007 11:09am Jul 2, 2007 11:09am
Quoting Tw0eleven
Nicely done Mr. demark and SeekingtheLight!!! Congrats! Now you can enjoy your 4th of July a little bit more eh?
I'm from/in Germany

But yea, the chart fireworks are pretty cool, too

4h GBPCHF pin bar just formed for the bold and daring.
Currently can't do a thing about it since I can't crucify a weekly trade for a 4h setup
Trust price. Know yourself.
  • #4,297
  • Jul 2, 2007 11:39am Jul 2, 2007 11:39am
Quoting SeekingLight
I'm from/in Germany

But yea, the chart fireworks are pretty cool, too

4h GBPCHF pin bar just formed for the bold and daring.
Currently can't do a thing about it since I can't crucify a weekly trade for a 4h setup
I'm the same boat.
That 4H pin right off the 365 looks dangerous and tempting to take to the long side, but I'm in a Weekly trade so I can't let a 4H setup make me budge.
I'll let it ride and see what happens.
  • #4,298
  • Jul 2, 2007 1:20pm Jul 2, 2007 1:20pm
Quoting SeekingLight
I'm from/in Germany

But yea, the chart fireworks are pretty cool, too

4h GBPCHF pin bar just formed for the bold and daring.
Currently can't do a thing about it since I can't crucify a weekly trade for a 4h setup
same story here, entered at .4595. took away 2/3 of the position and keep the remaining one trailing. As I said many posts back I feel that we are very close or have already entered an unwinding cycle of the classic carry trades. I would not be surprised if Yen will mirror todays swissfranc move very shortly.
  • #4,299
  • Jul 2, 2007 2:55pm Jul 2, 2007 2:55pm
Hello all,

Just in the name of laziness- Does anybody have an mql (metatrader) indicator for displaying fibonacci confluences, something along the lines of the 'Nexgen T-3 Fibs' minus the 7 grand expense??

I'm not a fan of technical indicators- but I use fibo confluences/clusters a lot- as I believe most in here do- and thought this would be useful.


Cheers Ears...
pessimism of the intellect and optimism of the will
  • #4,300
  • Jul 2, 2007 3:10pm Jul 2, 2007 3:10pm
http://img26.picoodle.com/img/img26/...em_4cb056a.jpg


daily bar does not look prime, but the 4 hr shows a pin off previous resistance and near confluence of long term trend line, the 23.6 fib of the main move north and the 61.8 of the last big move
quote of the day: . It's like deja-vu all over again
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