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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

  • #1,541
  • Dec 18, 2006 3:30am Dec 18, 2006 3:30am
Quoting surfer76
Hi, is this a good pin bar?
I don't do the whole james16 pin bar thing, but one thing that jumps out at me is this: Notice how the candle came down to your lower fork line and then price got chased aaaaaaaall the way back up to close slightly higher than it started? Pretty interesting, isn't it? That tells me there were a lot of buy orders placed around that fork line and that there's a decent chance you could see price hit the upper line. Also, mark the low point off, there's a chance that line will be significant s/r for you.
  • #1,542
  • Dec 18, 2006 3:44am Dec 18, 2006 3:44am
Average

Thanks for your considerations. Nice idea.
  • #1,543
  • Dec 18, 2006 2:34pm Dec 18, 2006 2:34pm
This is why I love this price action stuff. It works on all markets.
Possibility of a pin bar forming by the end of the day. If this happens, I'll be looking to go long cable tomorrow.
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Keeping it Simple
  • #1,544
  • Dec 18, 2006 4:09pm Dec 18, 2006 4:09pm
good stuff habeeb!

Too go along with the gbp here is the usd/chf looks like were getting a pin close at an important confluence area

best,
Mike
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  • #1,545
  • Dec 18, 2006 5:39pm Dec 18, 2006 5:39pm
I see a confluence of potential pin bar with 38.2% and 50% fibs.....
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  • #1,546
  • Dec 18, 2006 7:24pm Dec 18, 2006 7:24pm
Looking For a short here, If i am correct last three bars are all inside bars, Price has bounced of a major resistance point

Pipbird
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  • #1,547
  • Dec 18, 2006 8:26pm Dec 18, 2006 8:26pm
Quoting habeeb
This is why I love this price action stuff. It works on all markets.
Possibility of a pin bar forming by the end of the day. If this happens, I'll be looking to go long cable tomorrow.
Habeeb is there a correlation I don't realise between gold and the cable or is the correlation Gold/USD and so you will get in on the cable as it is a cross with the USD and likely to produce the biggest move.

<o></o>Cheers
Ademac
  • #1,548
  • Dec 18, 2006 9:02pm Dec 18, 2006 9:02pm
So your saying with the pin on the UsdChf showing a possible downtrend and gold doing what habeeb saw we could be seeing GbpUsd move up?
Quoting mbqb11
good stuff habeeb!

Too go along with the gbp here is the usd/chf looks like were getting a pin close at an important confluence area

best,
Mike
  • #1,549
  • Dec 18, 2006 9:02pm Dec 18, 2006 9:02pm
Quoting ademac
Habeeb is there a correlation I don't realise between gold and the cable or is the correlation Gold/USD and so you will get in on the cable as it is a cross with the USD and likely to produce the biggest move.

<o></o>Cheers
Ademac
This is an article about gold and its corelation with the dollar:
http://www.kitco.com/weekly/paulvaneeden/mar072005.html
HTH
Stubbornly persistent
  • #1,550
  • Dec 18, 2006 9:08pm Dec 18, 2006 9:08pm
Quoting goodthings
So your saying with the pin on the UsdChf showing a possible downtrend and gold doing what habeeb saw we could be seeing GbpUsd move up?
ideally :
  • #1,551
  • Dec 18, 2006 9:12pm Dec 18, 2006 9:12pm
Habeeb did the pin bar form on the gold?
Quoting habeeb
This is why I love this price action stuff. It works on all markets.
Possibility of a pin bar forming by the end of the day. If this happens, I'll be looking to go long cable tomorrow.
  • #1,552
  • Dec 18, 2006 10:05pm Dec 18, 2006 10:05pm
Too Late To Jump on this one are is it just getting started?
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  • #1,553
  • Dec 18, 2006 10:06pm Dec 18, 2006 10:06pm
Its with in 2 pips of each other on this chart and on my FXCM one it is with in 3 pips.
  • #1,554
  • Dec 18, 2006 10:16pm Dec 18, 2006 10:16pm
Quoting goodthings
Too Late To Jump on this one are is it just getting started?
Tom, yesterday's close is an inside bar. On my FXDD chart, the price is sitting on the EMA(365). We may very well get a reversal here.

Ken
  • #1,555
  • Dec 18, 2006 10:34pm Dec 18, 2006 10:34pm
Hi habeeb, can i ask what price you set a stop for on that monthly pin,
as you mentioned using a fixed 30 pip stop for your trades, but i figure that must be for smaller time frame, im trading that monthly on a demo and have a stop at 1.6025, id like to know yours, so i can compare and see if im on the right track.

Thanks for the help

westie


Quoting habeeb
Yup, IBFX has been very reliable with these setups.
Mike, you still in the EurChf short? I'm still holding with a 200 pip limit.
  • #1,556
  • Dec 18, 2006 10:45pm Dec 18, 2006 10:45pm
Get a reversal from the uptrend?
Quoting goodtiding5
Tom, yesterday's close is an inside bar. On my FXDD chart, the price is sitting on the EMA(365). We may very well get a reversal here.

Ken
  • #1,557
  • Dec 18, 2006 10:47pm Dec 18, 2006 10:47pm
Another dbhlc this one on the UsdJpy.
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  • #1,558
  • Dec 18, 2006 10:48pm Dec 18, 2006 10:48pm
When I say lower close I am talking of the previous day. Does it have to be a lower close then the day's opening?
  • #1,559
  • Dec 18, 2006 10:48pm Dec 18, 2006 10:48pm
tom, be careful here. Go back to the first few pages where James shows DBHLC, this is an inside bar as Ken stated. For a bar to qualify as a DBHLC, we want the highs to be the same(or as close as possible i prefer 1-3 pips and the close of the most recent bar must be lower then the previous bars low. Please let me know if you want me to post a chart with some examples. Take care,

Mike

Quoting goodtiding5
Tom, yesterday's close is an inside bar. On my FXDD chart, the price is sitting on the EMA(365). We may very well get a reversal here.

Ken
  • #1,560
  • Dec 18, 2006 10:50pm Dec 18, 2006 10:50pm
Thanks
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