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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

  • #9,121
  • Feb 14, 2008 4:13pm Feb 14, 2008 4:13pm
Daily pin on the pound/yen after it failed to take out 214. It might forming a bearish flag formation (I think that's what it's called anyways). Anyone else like this one? Anyways, hopefully we can ride this back down to 207-208.

Argh, I'm going to Japan in 3 weeks and the yen's soooo high right now. I'm going to be eating nothing but ramen soup for the next 3 months I guess!
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  • #9,122
  • Feb 14, 2008 4:42pm Feb 14, 2008 4:42pm
Here's a weekly chart. That area doesn't look that bad to short to be honest although I'd prefer a longer nose on that pin. I drew a PPZ and the 213.00 area seems pretty strong. Hopefully I drew it right lol.
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  • #9,123
  • Feb 14, 2008 5:44pm Feb 14, 2008 5:44pm
Quoting Betard
Daily pin on the pound/yen after it failed to take out 214. It might forming a bearish flag formation (I think that's what it's called anyways). Anyone else like this one? Anyways, hopefully we can ride this back down to 207-208.

Argh, I'm going to Japan in 3 weeks and the yen's soooo high right now. I'm going to be eating nothing but ramen soup for the next 3 months I guess!
yes, and a nice one off ppz. managed to catch it on 4hr at 213.46.... bernarke did the rest..
let's see if it breaks.
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  • #9,124
  • Feb 14, 2008 5:50pm Feb 14, 2008 5:50pm
..another aggressive 4hr entry (2.1759) today after rejection of ppz
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  • #9,125
  • Feb 14, 2008 6:38pm Feb 14, 2008 6:38pm
Quoting jarroo
Weekly Inside Bar coming in to play again.
now, just so I am on the right track, an inside bar is used to confirm the trend will continue...the gy is in an overall down trend, so the next moves will be retracements of highs while a continuation downward....? Thanks!
  • #9,126
  • Feb 14, 2008 6:56pm Feb 14, 2008 6:56pm
Quoting zoopy
Here's a weekly chart. That area doesn't look that bad to short to be honest although I'd prefer a longer nose on that pin. I drew a PPZ and the 213.00 area seems pretty strong. Hopefully I drew it right lol.

I would look for a rebound on this pair soon. IMO
"You miss 100% of the chances you don't take."
  • #9,127
  • Feb 14, 2008 7:26pm Feb 14, 2008 7:26pm
Quoting zmin
I would look for a rebound on this pair soon. IMO
a rebound after This speech... ? ..not sure...
I wouldn't be surprised to see 210.50 soon..
  • #9,128
  • Feb 14, 2008 8:27pm Feb 14, 2008 8:27pm
Check out the daily chart. I am surprised nobody has posted it. Its nice daily pin off the trendline from Sep 07. Also it bounces off the 365 at the exact same spot. What do you guys think!
  • #9,129
  • Feb 14, 2008 8:30pm Feb 14, 2008 8:30pm
Quoting KrazyD
now, just so I am on the right track, an inside bar is used to confirm the trend will continue...the gy is in an overall down trend, so the next moves will be retracements of highs while a continuation downward....? Thanks!
Or a trend change.
Indicators show the past. Price Action "Indicates" the future.
  • #9,130
  • Feb 14, 2008 8:37pm Feb 14, 2008 8:37pm
Quoting Piphunter71
Check out the daily chart. I am surprised nobody has posted it. Its nice daily pin off the trendline from Sep 07. Also it bounces off the 365 at the exact same spot. What do you guys think!
That's quite a nice pin. That is one I would trade if I had the choice between gbpjpy and nzdjpy. I think that area where it's at right now is at a PPZ as well.
  • #9,131
  • Feb 14, 2008 10:36pm Feb 14, 2008 10:36pm
Quoting adelmonora
...se the image..
Not if you went long at the break up and support of the the S/R level.
Indicators show the past. Price Action "Indicates" the future.
  • #9,132
  • Feb 14, 2008 10:47pm Feb 14, 2008 10:47pm
Quoting SeekingLight
IMHO a sub-optimal example.
It's a completely sideways motion and there was no steep run up prior to the reversal setup.

I think the most reliable setups are those occuring against/at PPZ, preferably with added confluence and "clear" of noise.

It worked out because all of the carry trade was being beaten to a pulp at the time(there was also a sideways HNS and subsequent loss of support / break of a bigger support as well); but ideally you don't want to take "reversal" trades in the middle of the chart if there's nothing to reverse due to a sideway staggering..where are you going to move to?

IMHO there wasn't a great or clear setup on my daily chart during that whole sideways except for "breaks" and retests / level losses..but no really great PA in itself showing.

The EURUSD chart and GBPCHF chart show how there can be "boundary" setups that work okay within a range at the extremes though and with a real "run up" first.
I think it was a very playable Price Action example. With tight stops at the S/R levels, one could have had a very low risk couple of trades.

Hind sight is always 20/20. Let's wait and see if another one presents itself in the future.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #9,133
  • Feb 14, 2008 10:54pm Feb 14, 2008 10:54pm
It is also bouncing down from the 200 ema... and as soon as it gets past the red 62 ema... maybe down she goes...!!!

Quoting zoopy
That's quite a nice pin. That is one I would trade if I had the choice between gbpjpy and nzdjpy. I think that area where it's at right now is at a PPZ as well.
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  • #9,134
  • Feb 15, 2008 9:36am Feb 15, 2008 9:36am
Quoting raczekfx
a rebound after This speech... ? ..not sure...
I wouldn't be surprised to see 210.50 soon..
Mission accomplished..... ... reloading....
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  • #9,135
  • Feb 15, 2008 10:44am Feb 15, 2008 10:44am
Quoting raczekfx
Mission accomplished..... ... reloading....
break of support, retest and.....
Mike's favorite....
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  • #9,136
  • Feb 15, 2008 2:09pm Feb 15, 2008 2:09pm
Quoting raczekfx
break of support, retest and.....
Mike's favorite....


Finaly, I'm right with you on this one Racze. It almost seemed too easy..
Slowly but surely, I tell ya. Have a good weekend all..
  • #9,137
  • Feb 15, 2008 2:21pm Feb 15, 2008 2:21pm
Thank you all for sharing with me your forex talent.....I had an up week..It will be the first
  • #9,138
  • Feb 15, 2008 5:42pm Feb 15, 2008 5:42pm
Quoting raczekfx
break of support, retest and.....
Mike's favorite....
classic head and shoulders with a pin bar bouncing off of the neckline which happened to be SPOT ON the weekly R1 level. Does it get any better?
Hindsight is 20/20
  • #9,139
  • Edited 10:32pm Feb 15, 2008 7:11pm | Edited 10:32pm
Quoting cosgrove
classic head and shoulders with a pin bar bouncing off of the neckline which happened to be SPOT ON the weekly R1 level. Does it get any better?
no, it doesn't...lol
This is the most conservative way for me..
I exited all yen and chfs positions when dow hit ppz at 12280
enjoy the weekend (long one for us here)

BTW. I used some of PA posted here to obtain these results in a short contest, using 'only' 18% margin.
What I'm trying to say is that PA and PF rules......

.
.
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  • #9,140
  • Feb 16, 2008 2:26am Feb 16, 2008 2:26am
I have been reading "The introduction to pin bars" and maybe because I am Dutch, but I am still puzzeled.

It says:

1.Eyes - the extreme values that the price reaches on the bar before and after the pin bar.
2.The high of the bars on either side of the pin are the ´eyes´ for the pin bar.
3.Note that the open and close of the pin must be within the left eye.

Does this mean that the eyes are the entire bars left and right of the pin bar.
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