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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

  • #7,761
  • Nov 22, 2007 1:46pm Nov 22, 2007 1:46pm
SeekingLight:
I read one of your last messages where you mention the PF site, could you please let me know, how I can join as a member

Thanks
Zee
ZHK
  • #7,762
  • Nov 22, 2007 3:17pm Nov 22, 2007 3:17pm
Quoting zhkzhk
SeekingLight:
I read one of your last messages where you mention the PF site, could you please let me know, how I can join as a member

Thanks
Zee
There are no new subscribers being accepted during the transition phase. You can read more about it and how to join, here.
  • #7,763
  • Nov 22, 2007 5:09pm Nov 22, 2007 5:09pm
I am looking at the EURUSD and I'm seeing a TBH on the daily and is this an I4B on the 4H chart, and is it then an indication of a trendbreakout down? If that's the case, where to place an entry and what would be the target?
If I draw the fibo from the low on 17th of August (1.3360) til the highest high (1.4872), could I set the TP at the 23.6 fibo?
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  • #7,764
  • Nov 22, 2007 5:15pm Nov 22, 2007 5:15pm
Quoting NowAndLater
I am looking at the EURUSD and I'm seeing a TBH on the daily and is this an I4B on the 4H chart, and is it then an indication of a trendbreakout down? If that's the case, where to place an entry and what would be the target?
If I draw the fibo from the low on 17th of August (1.3360) til the highest high (1.4872), could I set the TP at the 23.6 fibo?
IB indicates consolidation in the market. This is obviously a direct result of the holiday market today. Yes a TBH indicates resistance, which can lead to downward action.

A lot of people choose to straddle IBs, or have a bias in direction. For example, since the euro is in a strong uptrend, you may choose too only take IBs long.

Another thing, IBs show up all the time on the 4hr chart. This is because many of the bars are during off action times. My strong recommendation is to not trade IBs on anything less then the daily, especially in the beginning

Happy holiday
Mike
  • #7,765
  • Nov 22, 2007 5:59pm Nov 22, 2007 5:59pm
Thanks for the answer and happy holiday!


Quoting mbqb11
IB indicates consolidation in the market. This is obviously a direct result of the holiday market today. Yes a TBH indicates resistance, which can lead to downward action.

A lot of people choose to straddle IBs, or have a bias in direction. For example, since the euro is in a strong uptrend, you may choose too only take IBs long.

Another thing, IBs show up all the time on the 4hr chart. This is because many of the bars are during off action times. My strong recommendation is to not trade IBs on anything less then the daily, especially in the beginning

Happy holiday
Mike
  • #7,766
  • Nov 22, 2007 9:01pm Nov 22, 2007 9:01pm
I would also like to say thank you to all the experienced veterans of PA that come on and post there ideas for all to learn.....you know who you are. Have a wonderful holiday everyone. I am very excited for what 2008 has in store. Happy Trading.
  • #7,767
  • Nov 23, 2007 8:14am Nov 23, 2007 8:14am
Anyone sort on GBP/JPY?
I saw daily pin bar below support and market break below pin bar.
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  • #7,768
  • Nov 23, 2007 8:21am Nov 23, 2007 8:21am
Same with GBP/JPY, break support and perform pin bar below support and price break pin bar.
Well I short this late.
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  • #7,769
  • Nov 23, 2007 8:25am Nov 23, 2007 8:25am
Yes I caught that gbpjpy short moved my stop to +50 allready too. It is also an IB which adds confidence to take that trade. I'm aiming @220 round number and support also seen around that level.
  • #7,770
  • Nov 23, 2007 10:26am Nov 23, 2007 10:26am
Quoting jatis
Same with GBP/JPY, break support and perform pin bar below support and price break pin bar.
Well I short this late.
Hey Jatis,

Although those trades have worked out so far, those actually arent pinbars.
They are only Inside Bars. Even though they are shapped like a pinbar, they are within the previous bar's range.
A pinbar needs to stick out from the bar to its left. The more the nose of the pinbar portrudes, the better usually.

I hope that helps a little.
Tom
  • #7,771
  • Edited Nov 24, 2007 7:33am Nov 23, 2007 6:59pm | Edited Nov 24, 2007 7:33am
At first I was tinking this might be a nice PB... in my mind I am looking for price to head back up a little to give me another chance to go short... but after further thought, I am thinking today's bar is really a break from the IB of yesterday...

So now I think I must look maybe on lower times frames Monday or so, to hopefully find the short opportunity again...

Why do I need to find a way to get in again ??? Cause I was following too close with my stop, and got stopped out by about 5 pips...

The real target I have in my mind is 217.00
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  • #7,772
  • Nov 23, 2007 7:48pm Nov 23, 2007 7:48pm
Quoting moneybags
Hey Jatis,

Although those trades have worked out so far, those actually arent pinbars.
They are only Inside Bars. Even though they are shapped like a pinbar, they are within the previous bar's range.
A pinbar needs to stick out from the bar to its left. The more the nose of the pinbar portrudes, the better usually.

I hope that helps a little.
Tom
Hi Moneybags, thanks for your input.
I don't know if that is IB not PB. I am currently down 37 pips in USD/JPY


USD/JPY daily chart look like PB, the nose portrudes the bar to its left.
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  • #7,773
  • Nov 23, 2007 7:51pm Nov 23, 2007 7:51pm
PB in USD/CHF Daily.
Getting ready to buy, let see what happen next monday.
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  • #7,774
  • Nov 24, 2007 3:02am Nov 24, 2007 3:02am
Quoting Tiki Trader
The real target I have in my mind is 217.00
Tiki... you are correct in your thinking. Think about psychology and what the market is thinking. There is a high probability that we'll see that neckline at least get touched... keep up the good work.
Mr. Trend
  • #7,775
  • Nov 24, 2007 9:20am Nov 24, 2007 9:20am
hi all
i'm new to this system and i want to know where can i find the complete rulse or indicators related to this system?how does it work?
thx
  • #7,776
  • Nov 24, 2007 11:35am Nov 24, 2007 11:35am
Quoting bshadroo
hi all
i'm new to this system and i want to know where can i find the complete rulse or indicators related to this system?how does it work?
thx

It's all on this thread buddy.
Have a read and enjoy!
GOD IS NOT SHORT OF CASH
  • #7,777
  • Nov 24, 2007 11:59am Nov 24, 2007 11:59am
Heyho,

just skipped through my charts and so far there are three interesting setups for me in the coming week.

Pinbar on EURUSD at an all time high. The 1.5000 area probably is a resistance zone that rejected price and a small/medium retracement could be due since this is a much better PB than the one from 11/9.

USDCHF has a good looking PB at an all time low and closed above 1.1000 which could be a resistance zone because of the round number.

EURCHF was rejected by the 365 EMA but goes with the overall up trend so this might be a good opportunity as well.

What do you guys think?

Chris
Attached Image(s) (click to enlarge)
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  • #7,778
  • Nov 24, 2007 12:01pm Nov 24, 2007 12:01pm
Quoting creeper
Heyho,

just skipped through my charts and so far there are three interesting setups for me in the coming week.

Pinbar on EURUSD at an all time high. The 1.5000 area probably is a resistance zone that rejected price and a small/medium retracement could be due since this is a much better PB than the one from 11/9.

USDCHF has a good looking PB at an all time low and closed above 1.1000 which could be a resistance zone because of the round number.

EURCHF was rejected by the 365 EMA but goes with the overall up trend so this might be a good opportunity as well.

What do you guys think?

Chris

They all look like good setups to me and I plan on trading all of them. They are countertrend trades, however. I think we could possibly get about 150 pips at least out of them if worked out properly.
I dream, therefore I become.
  • #7,779
  • Nov 24, 2007 12:07pm Nov 24, 2007 12:07pm
Quoting creeper
Heyho,

just skipped through my charts and so far there are three interesting setups for me in the coming week.

Pinbar on EURUSD at an all time high. The 1.5000 area probably is a resistance zone that rejected price and a small/medium retracement could be due since this is a much better PB than the one from 11/9.

USDCHF has a good looking PB at an all time low and closed above 1.1000 which could be a resistance zone because of the round number.

EURCHF was rejected by the 365 EMA but goes with the overall up trend so this might be a good opportunity as well.

What do you guys think?

Chris
my exact thoughts. looking to go long o EURCHF (it also touched the daily trendline) and USDCHF, i think both trades will be of high probability because the PB are on both XXXCHF pairs, which i think is an extra confirmation. i think EURCHF will resume its weekly uptrend. Not sure about EURUSD, because i have a feeling its gonna go past 1.5000 and i dont want to fight the overall trend for a small retracement.
  • #7,780
  • Nov 24, 2007 12:40pm Nov 24, 2007 12:40pm
I do not feel eur/chf is a counter trend trade... zoom back on the daily and you will see the real trend is UP.... perhaps now we have finished the "correction" and time to get back to the trend...

Quoting mike w
They all look like good setups to me and I plan on trading all of them. They are countertrend trades, however. I think we could possibly get about 150 pips at least out of them if worked out properly.
Attached Image (click to enlarge)
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