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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

  • #1,941
  • Jan 7, 2007 10:29pm Jan 7, 2007 10:29pm
Beatin to it! LOL
Bundy's status today: "Waiting..."
  • #1,942
  • Jan 7, 2007 10:29pm Jan 7, 2007 10:29pm
Quoting sch305ny
THe lesson learned loud and clear. I took most of the lot out of it at +35 but didn't move the stop. I usually do play the 4hr and daily. This one is the experiment 1hr trade. I will defenitely move the stop loss to b/e as soon as possible and be less aggressive the next time! Thank you so much for your advice, Mike!
any time

HEY BUNNY!

  • #1,943
  • Jan 7, 2007 10:31pm Jan 7, 2007 10:31pm
Never posted pic before on thread trying learn how.
  • #1,944
  • Jan 7, 2007 11:25pm Jan 7, 2007 11:25pm
Speaking of 2day pin bar, I found usd/cad right now. If I would trade this, my plan should be.

1. Enter at the brake of first bar of pinbar's low (1.1715)
2. Set the s/l at second bar of pinbar's high(1.1786)
3. Once it moves down 30 then take 3/4 of lot and move s/l to b/e

Is that ok analysis? or the pin is not long enough? or am I too tired to think it right? I probably should hit the bed soon hehehe......

Sawa
Attached Image
  • #1,945
  • Jan 7, 2007 11:28pm Jan 7, 2007 11:28pm
Quoting sch305ny
Speaking of 2day pin bar, I found usd/cad right now. If I would trade this, my plan should be.

1. Enter at the brake of first bar of pinbar's low (1.1715)
2. Set the s/l at second bar of pinbar's high(1.1786)
3. Once it moves down 30 then take 3/4 of lot and move s/l to b/e

Is that ok analysis? or the pin is not long enough? or am I too tired to think it right? I probably should hit the bed soon hehehe......

Sawa
hey sawa go a few pages back, i posted about the USD/CAD. As far as what you should do. That is something you gotta test over and over until it fits your trading style. That is a good thought process though!

Best of luck

Mike
  • #1,946
  • Jan 8, 2007 12:07am Jan 8, 2007 12:07am
Was planning around that Loony trade myself. Waiting for some definite price indication here.

Todays Japanese holiday's left it with neutral price bars for hours.

Now I've just been reminded that I have a birthday dinner to go to in two hours. DOH!

Sisters. Who'd 'ave 'em hey?
Bundy's status today: "Waiting..."
  • #1,947
  • Jan 8, 2007 2:02am Jan 8, 2007 2:02am
Quoting Panjan
Hai Guys,

I'm learning this price action and hope someone can help me to confirm
this chart.

Is this the Pin Bar?
If it is, where shall place my order?
Nice catch on the 4 Hour, this is a good confirmation of an upwards move coming.
  • #1,948
  • Jan 8, 2007 2:30am Jan 8, 2007 2:30am
Quoting monarch
Nice catch on the 4 Hour, this is a good confirmation of an upwards move coming.
Thanks Monarch,

But it wasn't the Pin Bar is it? Because the close for that PB is lower than open price. It should be the other way around for the Pin Bar isn't it? Pls help to confirm this for me...

thanks,

shah

excuse for my poor english...
Shah For every action there is an equal and opposite reaction.....
  • #1,949
  • Jan 8, 2007 2:37am Jan 8, 2007 2:37am
Hi everyone...
Seems Nippy took a heart and went down a little bit for me after all.
At least something
I of course immediately made up for it this morning by thinking I could short cable after a 15M pinbar at a trendline hit...got in a bit too late, didn't use a retrace entry and zingggg I got burned. Classic

Just wanted to post the monthly for USDJPY although it has gone and ignored PA setups on monthly just as treacherously as EURCHF before....
Starting to wonder whether monthly is almost TOO big a timeframe to use...
Attached Image
Trust price. Know yourself.
  • #1,950
  • Jan 8, 2007 4:05am Jan 8, 2007 4:05am
Quoting Panjan
Thanks Monarch,

But it wasn't the Pin Bar is it? Because the close for that PB is lower than open price. It should be the other way around for the Pin Bar isn't it? Pls help to confirm this for me...

thanks,

shah

excuse for my poor english...
On your Pin Bar Nose, the Left and Right Ear was portruding beyond the Nose Open and Close mark. This would make it a complete Nose formation, maybe somebody else here has a better intrepretation of it.
  • #1,951
  • Jan 8, 2007 5:19am Jan 8, 2007 5:19am
Quoting Panjan
Thanks Monarch,

But it wasn't the Pin Bar is it? Because the close for that PB is lower than open price. It should be the other way around for the Pin Bar isn't it? Pls help to confirm this for me...

thanks,

shah

excuse for my poor english...
according to your chart that was a neutral bar. The close and open where located in the middle of the bar, showing indecision. Ideally we want the close to be higher then the open when looking for a long and both open adn close to be in the upper portion of the bar. Pin bars won't always look like this, but in this case it was simply a neutral bar.
  • #1,952
  • Jan 8, 2007 5:30am Jan 8, 2007 5:30am
Quoting SeekingLight
Hi everyone...
Seems Nippy took a heart and went down a little bit for me after all.
At least something
I of course immediately made up for it this morning by thinking I could short cable after a 15M pinbar at a trendline hit...got in a bit too late, didn't use a retrace entry and zingggg I got burned. Classic

Just wanted to post the monthly for USDJPY although it has gone and ignored PA setups on monthly just as treacherously as EURCHF before....
Starting to wonder whether monthly is almost TOO big a timeframe to use...
no worries seeking , I also took the 15min pin on the gbp and the jpy at same time. The usd/jpy made up for the gbp loss though. That's the problem with the smaller time frames and why its best to stick to the higher ones for the PA bars. Especially if you are new to this.

Mike
  • #1,953
  • Jan 8, 2007 6:00am Jan 8, 2007 6:00am
Quoting mbqb11
according to your chart that was a neutral bar. The close and open where located in the middle of the bar, showing indecision. Ideally we want the close to be higher then the open when looking for a long and both open adn close to be in the upper portion of the bar. Pin bars won't always look like this, but in this case it was simply a neutral bar.
Yes, I agree with you Mike coz when I did couple of test, mostly PB's when you try with canddlesticks, it gonna turn out to be either hammer or shooting star.

Thanks again Mike.

shah
Shah For every action there is an equal and opposite reaction.....
  • #1,954
  • Jan 8, 2007 6:01am Jan 8, 2007 6:01am
Quoting Panjan
Yes, I agree with you Mike coz when I did couple of test, mostly PB's when you try with canddlesticks, it gonna turn out to be either hammer or shooting star.

Thanks again Mike.

shah
yep right on

take care shah

mike
  • #1,955
  • Jan 8, 2007 6:51am Jan 8, 2007 6:51am
Totally overlooked the 15M on usdjpy Mike, but closed out my shorts nonetheless as price bottomed and bounced too much. Not exactly gigantic profit, but oh well.

Went long EJ on the retrace of the 1h BUOB, it's now looking to make a daily pin bar if this holds. Last time it made one(1h BUOB) it totally failed, so I am glad today it SEEMS to be holding.

Same thing happened on GJ of course(takeoff of the retrace from 228.62), but I don't see why I should pay three times as much spread and use 2-3 the stop size needed for GJ if EJ does just as well.
Attached Image
Trust price. Know yourself.
  • #1,956
  • Jan 8, 2007 7:02am Jan 8, 2007 7:02am
Hi there SeekingLight!

We are riding the same horse again
Long EURJPY..so far, so good. But I didnt look at the 1h, made my trade according to 4h (worse price, larger stop)
Nevertheless, it feels good to be in positive pips after the loss from previous week.

Happy Trading

bluefish

P.S. Still too scared to use 1h. Once I save some money for PF and absorb what is there to absorb, maybe then I will be able to read 1h charts with confidence too.
  • #1,957
  • Jan 8, 2007 8:29am Jan 8, 2007 8:29am
Hello, SeekingLight and bluefish. I am looking at the EURJPY with Daily. It is getting a nice pin. I will be patient to wait for the brake of the pin. that would be the tomorrow's trade for me. I am also looking at the USDCHF 4hr. Pin after Pin(maybe). If the second pin will close below the 8sma then I might enter for very little tp.

Sawa
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  • #1,958
  • Jan 8, 2007 8:35am Jan 8, 2007 8:35am
hey sch

This is how i traded trying to get in earlier, but could be a trade you can hold as it develops. Once again it is more safe to wait for these higher timeframes like you are doing!
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  • #1,959
  • Jan 8, 2007 10:30am Jan 8, 2007 10:30am
Hai Guys,

Just attcahed GBP chart that I think looks like Inside bar.
I'm right with this one's....

Pls comments

Thanks

shah
Attached Image
Shah For every action there is an equal and opposite reaction.....
  • #1,960
  • Edited 11:15am Jan 8, 2007 10:41am | Edited 11:15am
Quoting Panjan
Hai Guys,

Just attcahed GBP chart that I think looks like Inside bar.
I'm right with this one's....

Pls comments

Thanks

shah
NO. This is not inside bar. Inside bar is when current bar's range is within the previous bar's range, when it has a low greater than the previous bar's low and a high less than the previous bar's high.
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