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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

  • #10,761
  • May 14, 2008 12:26pm May 14, 2008 12:26pm
Quoting mbqb11
a break is simply when the high or the low of the actual pin bar itself breaks
Gotcha.
  • #10,762
  • May 14, 2008 1:21pm May 14, 2008 1:21pm
How does this one look?
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  • #10,763
  • May 14, 2008 1:34pm May 14, 2008 1:34pm
Quoting libertao
How does this one look?
Not a pin on mine like yours,

but location is good too.. This is off a PPZ.
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  • #10,764
  • May 14, 2008 1:39pm May 14, 2008 1:39pm
Quoting mbqb11
Not a pin on mine like yours,

but location is good too.. This is off a PPZ.
My only concern was that the rest of the pin in comparison to the nose was too big i.e. it's too close to a neutral bar. What would you say in regards to that, Mike?
  • #10,765
  • May 14, 2008 1:46pm May 14, 2008 1:46pm
Quoting libertao
My only concern was that the rest of the pin in comparison to the nose was too big i.e. it's too close to a neutral bar. What would you say in regards to that, Mike?

It is ok that the open and close are the same. A neutral bar would be if the open and close was more towards the middle of the bar. This one had it's open and close withing the previous bar(on your chart). I agree the nose wouldn't hurt to be bigger. My main concern if i was trading this would be all the choppiness above it. Creating a rough road ahead so to speak


-Mike

PS when in doubt stay out.
  • #10,766
  • May 14, 2008 2:31pm May 14, 2008 2:31pm
Quoting mbqb11
It is ok that the open and close are the same. A neutral bar would be if the open and close was more towards the middle of the bar.
Right, that's what I meant. Thanks for the comments, much appreciated
  • #10,767
  • May 14, 2008 5:19pm May 14, 2008 5:19pm
Quoting libertao
How does this one look?

I would perhaps be slightly wary of looking for further upside in this pair due to this weekly pin bar having triggered to the downside following a failed attempt to break the April '07 high conclusively and a subsequent break of the sloping trendline. A close below the ppz at0.9370/75 might confirm this.

....only my thoughts....could be wrong.....
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  • #10,768
  • Edited 6:07pm May 14, 2008 5:54pm | Edited 6:07pm
Thanks to everyone for taking the time to share what you know. My first chart posted turned out 100 pips so I will try again. This looks very good unless I'm missing something. We have a pin bar bouncing off of a strong swing low from jan-feb, as well as a strong trendline and weekly R1.
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  • #10,769
  • May 14, 2008 8:10pm May 14, 2008 8:10pm
Quoting jarroo
Good eye redbull.

That is definitely on the watch list.

At a strong PPZ, off of new Lows, on the Daily and the nose nice and long.

I 'm sure mike would say its got some good "space" as well.


Nice.
On a second look, the Pin Bar nose could be a little longer. But everything else looks OK.

No break of the Pin yet, so taking a retrace of that Pin would be a high risk trade (thanks Jim, Mike and Seeking )
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #10,770
  • May 14, 2008 9:19pm May 14, 2008 9:19pm
the cable is in the bottom
  • #10,771
  • May 14, 2008 9:20pm May 14, 2008 9:20pm
Quoting hussin naiji
the cable is in the bottom
The bottom of what?
Indicators show the past. Price Action "Indicates" the future.
  • #10,772
  • May 14, 2008 9:30pm May 14, 2008 9:30pm
i can not see more downtrend for cable
attention to support line (long term) 1.9390
  • #10,773
  • May 14, 2008 9:32pm May 14, 2008 9:32pm
Quoting hussin naiji
i can not see more downtrend for cable
attention to support line (long term) 1.9390
So we are not exactly at the bottom of the Cable we're near the bottom. Ok thanks.
Indicators show the past. Price Action "Indicates" the future.
  • #10,774
  • May 14, 2008 9:33pm May 14, 2008 9:33pm
Quoting jarroo
So we are not exactly at the bottom of the Cable we're near the bottom. Ok thanks.
what is your point of view short term for cable pls ??
  • #10,775
  • May 14, 2008 9:36pm May 14, 2008 9:36pm
Quoting hussin naiji
what is your point of view short term for cable pls ??
We have a potiential reversal move to the upside, indicated by the Pin Bar on the Daily. Still waiting for more confirmation.
Indicators show the past. Price Action "Indicates" the future.
  • #10,776
  • May 14, 2008 9:39pm May 14, 2008 9:39pm
Quoting jarroo
We have a potiential reversal move to the upside, indicated by the Pin Bar on the Daily. Still waiting for more confirmation.
also we must wait for inflation report in the next time
thanks 4 cooperation and have a nice trade 4 u
  • #10,777
  • May 14, 2008 9:47pm May 14, 2008 9:47pm
I'm seeing a possible IB on cable on the D1 chart, but it's only about 2 pips below the high of the pin bar. So I'm not sure if it's a true IB.

I added another chart from a different broker and I'm looking at the current daily candle...
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  • #10,778
  • May 14, 2008 9:57pm May 14, 2008 9:57pm
Quoting Aad
I'm seeing a possible IB on cable on the D1 chart, but it's only about 2 pips below the high of the pin bar. So I'm not sure if it's a true IB...

Aad come on. Your smarter then that. I know you.
That's the current Daily Bar. That Bar won't close for another 21 hours.
Indicators show the past. Price Action "Indicates" the future.
  • #10,779
  • May 14, 2008 10:02pm May 14, 2008 10:02pm
Quoting jarroo
Aad come on. Your smarter then that. I know you.
That's the current Daily Bar. That Bar won't close for another 20 hours.
Hahahahaha! I guess I'm still not 100% on my IB determination...
  • #10,780
  • May 14, 2008 10:04pm May 14, 2008 10:04pm
Quoting Aad
Hahahahaha! I guess I'm still not 100% on my IB determination...
I guess you better start at post #1 and begin again, my friend. Or get some sleep.
Indicators show the past. Price Action "Indicates" the future.
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