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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

  • #8,741
  • Jan 14, 2008 3:57pm Jan 14, 2008 3:57pm
Quoting mamutot
i hope that means downwards..

i also think so

yes - now i am sure it will


anybody??
doubt it, but I wouldn't be surprised to see pullback to 1.4760/90 before continuation higher.
  • #8,742
  • Jan 14, 2008 4:24pm Jan 14, 2008 4:24pm
Guys,

would you consider this USD/JPY daily bar as a Proxy PIN?
Just want to read your opinon since I haven't got feel of PPINs yet.
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Thomas
  • #8,743
  • Jan 14, 2008 4:34pm Jan 14, 2008 4:34pm
Nice trendline retest there but no strong confirming price action.

cheers


Quoting mamutot
i hope that means downwards..

i also think so

yes - now i am sure it will


anybody??
  • #8,744
  • Jan 14, 2008 7:54pm Jan 14, 2008 7:54pm
Quoting thomass
Guys,

would you consider this USD/JPY daily bar as a Proxy PIN?
Just want to read your opinon since I haven't got feel of PPINs yet.
Not exactly a proxy pin in my books, because the pin itself isn't that good.
The close is too much in the middle and quite a bit further down from the open. The proxy idea I can see though. It's just that the pin is not great looking.
My opinion of course. This could work out in the end.

Tom
  • #8,745
  • Jan 14, 2008 8:52pm Jan 14, 2008 8:52pm
Quoting SeekingLight
Hey Mat, glad to see you're coming along after joining me on the light side of the pin bar force ;p

Don't charts look so much nicer without 12 stochastics on them?
Hey Seeking, thanks mate, im amazed to see how much you have learn and improved in this last years, i still remember those days when we were in the chat room looking for a new system every week.. heheh

As always, i wish u the best my friend.

Matty

PS: Absolutly!!! nothing like a clean chart with price action to trade well
  • #8,746
  • Jan 15, 2008 10:05am Jan 15, 2008 10:05am
Hi,
I have just found these 500 odd pages about pinbars and I wonder if there is an actual definition that I should be looking for. This is a new idea that I would like to investigate
Thanks
Steve
  • #8,747
  • Jan 15, 2008 10:49am Jan 15, 2008 10:49am
Quoting stevecartwright
Hi,
I have just found these 500 odd pages about pinbars and I wonder if there is an actual definition that I should be looking for. This is a new idea that I would like to investigate
Thanks
Steve
http://www.forexfactory.com/images/attach/pdf.gif Pin bars-advanced.pdf Oct 7, 2006 11:48am 112.7 KB 679 http://www.forexfactory.com/images/attach/pdf.gif Pin bars-introduction.pdf Oct 7, 2006 11:48am 175.2 KB 854
  • #8,748
  • Jan 15, 2008 3:40pm Jan 15, 2008 3:40pm
short gold.

DBHLC to the pip BUT and we see a weekly pinbar forming but the most recent pin was just negated by a BEOB. I am not gonna trade this after having been burned on the nice silver PB but it's gonna be interesting.
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  • #8,749
  • Jan 15, 2008 3:46pm Jan 15, 2008 3:46pm
Quoting creeper
short gold.

DBHLC to the pip BUT and we see a weekly pinbar forming but the most recent pin was just negated by a BEOB. I am not gonna trade this after having been burned on the nice silver PB but it's gonna be interesting.

why not,actually???

don't be affraid - i dont mean you should or have to trade it, but if only fear prevents you from doing so than let it go.

find real reasons not to trade - the worse outcome is a loss well managed that you can expect to come at the breakof these TBH, so...fear is not a reason not to trade, just my thoughts.

Good Luck
  • #8,750
  • Jan 15, 2008 3:51pm Jan 15, 2008 3:51pm
NZD/JPY Daily

It broke through, I put my sell at 82.70
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  • #8,751
  • Jan 15, 2008 3:55pm Jan 15, 2008 3:55pm
If it closes like this we have a very nice 2 Day Pinbar on EURUSD. It comes off the trendline and a smoll resistance from 11/27.

It might be fear that prevents me from taking the gold DBHLC but it's not an A setup in my mind because you would short against a VERY strong uptrend and calling tops is much more difficult than just participating in the trend. The thing is that really the best moves come from all time lows and highs if a trend reversal does happen.

Difficult decisions...

Chris
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  • #8,752
  • Jan 15, 2008 4:00pm Jan 15, 2008 4:00pm
Quoting creeper
It might be fear that prevents me from taking the gold DBHLC but it's not an A setup in my mind because you would short against a VERY strong uptrend and calling tops is much more difficult than just participating in the trend.
Chris
well - i guess that maybe because i dont like this cliches i dont trust them..

this is what i would expect to happen at the top..and if you would check the 4h and 1h, you will see that today a lot happenned...

it is not like you are going to trade an IB at the top for a reversal..you are thinking of trading a reversal pattern, at the top, with some kind of resistance, and a PA..thats how i look at it - and only the market can prove me wrong...
or something else that i might see when i will look at my charts at the end of the day - 2 hrs from now for me...

Michael
  • #8,753
  • Jan 15, 2008 7:35pm Jan 15, 2008 7:35pm
hi all,

im new here...

is this valid BEOB ?

http://i222.photobucket.com/albums/d...2007/eubeb.gif

thnx
  • #8,754
  • Jan 15, 2008 8:09pm Jan 15, 2008 8:09pm
Quoting CandlePower
hi all,

im new here...

is this valid BEOB ?



thnx

Hey CP welcome

Yes that is a BEOB


Mike
  • #8,755
  • Jan 15, 2008 8:22pm Jan 15, 2008 8:22pm
Quoting fuzzle
NZD/JPY Daily

It broke through, I put my sell at 82.70
Hi Fuzzle! Hi all!

I drew this line different. Currently bouncing off of a more immediate resistance line.

Currently bought a small parcel at close of pin on 1 hr chart. (plus spread ended up 82.95)

Looking to watch him from here. Though may develop into a curl and break yet. Let's see.
Attached Image
Bundy's status today: "Waiting..."
  • #8,756
  • Jan 15, 2008 8:23pm Jan 15, 2008 8:23pm
Quoting bundyraider
Hi Fuzzle! Hi all!

I drew this line different. Currently bouncing off of a more immediate resistance line.

Currently bought a small parcel at close of pin on 1 hr chart. (plus spread ended up 82.95)

Looking to watch him from here. Though may develop into a curl and break yet. Let's see.

whooooooa look who it is! Long time no see Bundy!

Where ya been?! Good too see ya back


Mike
  • #8,757
  • Jan 15, 2008 8:32pm Jan 15, 2008 8:32pm
Quoting bundyraider
Hi Fuzzle! Hi all!

I drew this line different. Currently bouncing off of a more immediate resistance line.

Currently bought a small parcel at close of pin on 1 hr chart. (plus spread ended up 82.95)

Looking to watch him from here. Though may develop into a curl and break yet. Let's see.

The commercials are going long too which was one of the reasons I went short.
  • #8,758
  • Jan 15, 2008 8:33pm Jan 15, 2008 8:33pm
Good to be back mate.

Have kind of lurked occasionly. Family business got very busy mid year (our peak season) Couldn't find the patience for a while.

Took a while to get back to the swing of the charts again. Isn't it amazing how much you rely on having a 'feel' for the price action on top of your knowledge?! LOL
Bundy's status today: "Waiting..."
  • #8,759
  • Jan 15, 2008 9:09pm Jan 15, 2008 9:09pm
Quoting fuzzle
The commercials are going long too which was one of the reasons I went short.
I've got a COT subscribtion somewhere! Occasionly look at them. Just payed the sub too. Can't remember the link for the minute. LOL

The idea I have for the trade this time is the close Stop Loss you can set. A pin bar , set on a Tom DeMarke line, Stop on other side.

Even if we only make it to the 38.2% ret, I'm almost at 2:1 reward. (Thus the small parcell) (The spread screwed it a little.)

For a short trade there is no close stop area I would be comfortable using just yet.

If this indeed breaks down and then returns to that trend line, I'd be happy to do the inverse of what I have done this time. And definetly will if the price action is a compliment to that idea.
Bundy's status today: "Waiting..."
  • #8,760
  • Jan 15, 2008 9:27pm Jan 15, 2008 9:27pm
Quoting bundyraider
I've got a COT subscribtion somewhere! Occasionly look at them. Just payed the sub too. Can't remember the link for the minute. LOL

The idea I have for the trade this time is the close Stop Loss you can set. A pin bar , set on a Tom DeMarke line, Stop on other side.

Even if we only make it to the 38.2% ret, I'm almost at 2:1 reward. (Thus the small parcell) (The spread screwed it a little.)

For a short trade there is no close stop area I would be comfortable using just yet.

If this indeed breaks down and then returns to that trend line, I'd be happy to do the inverse of what I have done this time. And definetly will if the price action is a compliment to that idea.

Good thoughts! Thanks for sharing.
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