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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

  • #9,501
  • Mar 10, 2008 4:02am Mar 10, 2008 4:02am
Quoting gagiul
what do u guys think about this Eur Usd Daily PB? Does it meet the conditions of a A+ PB? in my opinion it does...
Hi to everyone, gagiul i was gonna write the same exact thing, in my opinion the eur/usd and gbp/usd are beautiful PB but I'm going to play the only invalidation!! .... take a look at other pa patterns, found out that when a reverse pa pattern is fighting a strong trend... well if it fails, that's gonig to be a nice move to the opposite side .... i think that's the usd behavior in this period ... probably if that pb was somethig like a mega400pipsPB i would been thinking of the short side ... but i want 1.55 at least !!!!!
  • #9,502
  • Mar 10, 2008 4:04am Mar 10, 2008 4:04am
it seems like a valid PB to me too
  • #9,503
  • Mar 10, 2008 5:12am Mar 10, 2008 5:12am
Quoting yster
can any one tell me how can i subcribe to jame16 private section ?

i can't find any where to subcribe on the forum
You can find where to subscribe to the private forum on this site:

http://www.james16group.us/
  • #9,504
  • Mar 10, 2008 5:50am Mar 10, 2008 5:50am
Quoting giusepp8
Hi to everyone, gagiul i was gonna write the same exact thing, in my opinion the eur/usd and gbp/usd are beautiful PB but I'm going to play the only invalidation!! .... take a look at other pa patterns, found out that when a reverse pa pattern is fighting a strong trend... well if it fails, that's gonig to be a nice move to the opposite side .... i think that's the usd behavior in this period ... probably if that pb was somethig like a mega400pipsPB i would been thinking of the short side ... but i want 1.55 at least !!!!!
thanks, Giusepp, this might be the case actually, a short pullback then another shoot up.
We leave no soldier behind.
  • #9,505
  • Mar 10, 2008 5:04pm Mar 10, 2008 5:04pm
Over the past 4-5 days the precious metals have shown PA signalling at least temporary tops in place.
Correlation between precious metals and the AUD had suggested that further weakness in the AUD could be forthcoming.
In the AUD/USD, an IB formed last Monday was followed by another last Friday and a subsequent expected downside break followed today.
Notice the rally to retest the underneath of the triangle before greater AUD weakness.
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  • #9,506
  • Mar 10, 2008 7:24pm Mar 10, 2008 7:24pm
Quoting gagiul
what do u guys think about this Eur Usd Daily PB? Does it meet the conditions of a A+ PB? in my opinion it does...
The Eur Usd short went pretty well, closed one lot at 50+ and left the other lot at BE.

How about these tweezer tops or TBH (Two Bar Highs) in Gbp Usd? It seems quite a good sell signal IMHO.
Attached Image
We leave no soldier behind.
  • #9,507
  • Mar 11, 2008 9:30am Mar 11, 2008 9:30am
Hi

Whats the usual entry point on a classic pin bar?

Thanks/R
  • #9,508
  • Mar 11, 2008 10:02am Mar 11, 2008 10:02am
Quoting rob4u
Hi

Whats the usual entry point on a classic pin bar?

Thanks/R
The most common entry is to wait for a break of the high/low of the pinbar High when looking for a long, and low when looking to short.


Take care

Mike
  • #9,509
  • Mar 11, 2008 10:18am Mar 11, 2008 10:18am
Quoting mbqb11
The most common entry is to wait for a break of the high/low of the pinbar High when looking for a long, and low when looking to short.


Take care

Mike
Hi mike
thanks for replay

ok so are you waiting to after the second eye bar, if not how do you know that its going to be a pin bar?

Sorry for this newbee questions
  • #9,510
  • Mar 11, 2008 10:22am Mar 11, 2008 10:22am
I'm on a demo Oanda and noticed this, can anyone confirm?
Maybe time to ride the greenback at long last???
Money & Pain Respect the market, protect your capital, be patient
  • #9,511
  • Mar 11, 2008 12:59pm Mar 11, 2008 12:59pm
Quoting rob4u
Hi mike
thanks for replay

ok so are you waiting to after the second eye bar, if not how do you know that its going to be a pin bar?

Sorry for this newbee questions
Don't worry too much about the second eye. The most important thing is the left eye. We want the pinbar to be within the prior bar(and even nicer within the close).

Here is a chart. See how we have the pinbar and then the next bar breaks the low of the pin at the red X. We would have a pending order to go short on the break of the low. So we don't have to wait for the right eye to form. We go short during this bar.

Hope this helps

Mike
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  • #9,512
  • Mar 11, 2008 4:13pm Mar 11, 2008 4:13pm
hey guys, we have DBLHC on all the yen pairs and AU and NU.
I suppose the market seems very bullish.

What do you guys think?
We leave no soldier behind.
  • #9,513
  • Mar 11, 2008 4:23pm Mar 11, 2008 4:23pm
Quoting mbqb11
Don't worry too much about the second eye. The most important thing is the left eye. We want the pinbar to be within the prior bar(and even nicer within the close).

Here is a chart. See how we have the pinbar and then the next bar breaks the low of the pin at the red X. We would have a pending order to go short on the break of the low. So we don't have to wait for the right eye to form. We go short during this bar.

Hope this helps

Mike
Hey Mike
it helps a lot, its always like this in the beginning of a learning process...... lot of thinking back and forth

Thanks so much,
  • #9,514
  • Mar 11, 2008 4:33pm Mar 11, 2008 4:33pm
Quoting rob4u
Hey Mike
it helps a lot, its always like this in the beginning of a learning process...... lot of thinking back and forth

Thanks so much,
Yep it just takes a lot of time and dedication. Just think long term and realize it is worth however long it takes you to figure this whole crazy game out.

Mike
  • #9,515
  • Mar 11, 2008 7:00pm Mar 11, 2008 7:00pm
Some nice obvious PA accross the charts on the dailies.

Good to see.

USD/JPY off of long term support, by the looks. (monthly charts)
Bundy's status today: "Waiting..."
  • #9,516
  • Mar 11, 2008 7:22pm Mar 11, 2008 7:22pm
Quoting mbqb11
The most important thing is the left eye. We want the pinbar to be within the prior bar(and even nicer within the close).
Mike
Hi Mike,

Sorry I am asking the funda question again, just to confirm.

When you say pinbar to be within the prior bar, you mean the open and close of the pin bar should be with in the close or high of the left bar. right?

Thanks
TradeStar
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #9,517
  • Mar 11, 2008 7:27pm Mar 11, 2008 7:27pm
Quoting TradeStar
Hi Mike,

Sorry I am asking the funda question again, just to confirm.

When you say pinbar to be within the prior bar, you mean the open and close of the pin bar should be with in the close or high of the left bar. right?

Thanks
TradeStar
Yes this is correct TS. It is even better if it is in the prior close. Sometimes the close is much lower then the high. I prefer them within the previous bars close also, but I will trade them either way(of course depending on location etc)


Mike
  • #9,518
  • Mar 11, 2008 8:45pm Mar 11, 2008 8:45pm
Gonna go ahead and repost these very informative references regarding pin bars that were put together by forexfactory.com member lwoo034 early in the thread's life. Please don't forget to look through the thread at all of the examples!
Attached File(s)
File Type: pdf Pin bars-introduction.pdf   175 KB | 1,050 downloads
File Type: pdf Pin bars-advanced.pdf   113 KB | 995 downloads
Hindsight is 20/20
  • #9,519
  • Mar 12, 2008 7:52am Mar 12, 2008 7:52am
Thanks Cosgrove, have been trawling this thread for knowledge on price action, hadn't come across these pin pdfs so muchas gracias. Now where's everything else I need to know about?! Trawling ain't that efficient...but the knowledge is here, somewhere...
Money & Pain Respect the market, protect your capital, be patient
  • #9,520
  • Mar 12, 2008 8:03am Mar 12, 2008 8:03am
Quoting cosgrove
Gonna go ahead and repost these very informative references regarding pin bars that were put together by forexfactory.com member lwoo034 early in the thread's life. Please don't forget to look through the thread at all of the examples!
Thansk, this is awesome.... good hearted u r;-)
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