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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

  • #10,901
  • May 21, 2008 4:10pm May 21, 2008 4:10pm
Quoting mades
If you have other chart time (depending on your broker) then your 4H will look differently.

I think Mike is saying that although it might be a pin bar/hammer when looked at by itself, it is not one in context i.e. it does not protrude from the previous bar.
  • #10,902
  • May 21, 2008 5:03pm May 21, 2008 5:03pm
Quoting libertao
I think Mike is saying that although it might be a pin bar/hammer when looked at by itself, it is not one in context i.e. it does not protrude from the previous bar.
yes I was referring to HIS chart that he posted. The bar I believe he was referring to was not a pinbar. The open and close were not contained within the previous bar. As well as it was stuck in the middle of a lot of traffic. Also it looks like he entered right on the close of the bar, which is a much more risky. A pinbar is NOT valid until the high/low breaks.

That is if it is the bar I believe he is referring to.


Take care,
Mike
  • #10,903
  • May 21, 2008 10:07pm May 21, 2008 10:07pm
365 ema at 1.9800 looks good.
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Indicators show the past. Price Action "Indicates" the future.
  • #10,904
  • May 22, 2008 6:18am May 22, 2008 6:18am
Is this PB here valid? its come off the 61.8 fib and 365EMA, it is in a fair amount of traffic and hasn't created a lot of space to the left(that's if I'm understanding the concept correctly). So is this a bar worth trading?

Thanks
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  • #10,905
  • May 22, 2008 6:53am May 22, 2008 6:53am
Quoting Daymo
Is this PB here valid? its come off the 61.8 fib and 365EMA, it is in a fair amount of traffic and hasn't created a lot of space to the left(that's if I'm understanding the concept correctly). So is this a bar worth trading?

Thanks
yep. looks like a PB to me...!!
  • #10,906
  • May 22, 2008 7:03am May 22, 2008 7:03am
Quoting raczekfx
trade off v.good support..
.
almost there...
.
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  • #10,907
  • Edited 8:12am May 22, 2008 7:22am | Edited 8:12am
Looks like I'll stay in a little longer.
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Indicators show the past. Price Action "Indicates" the future.
  • #10,908
  • May 22, 2008 9:43am May 22, 2008 9:43am
It respected the monthly pivot on my chart; noticed you didn't have it on your's, so thought I'd mention it. Also, the 1.9950 area is the weekly R3. Funny how that works out, eh?
Hindsight is 20/20
  • #10,909
  • May 22, 2008 10:44am May 22, 2008 10:44am
Does it is correct pattern ???
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  • #10,910
  • May 22, 2008 10:50am May 22, 2008 10:50am
Quoting 4newbie
Does it is correct pattern ???
Not quite, firstly the daily hasn't closed yet.

But to be a DBHLC we want to have matching highs and the close has to be LOWER then the previous bars low

here is an example

Best,
Mike
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  • #10,911
  • May 22, 2008 10:51am May 22, 2008 10:51am
this is what I'm watching like an eagle .....
.
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  • #10,912
  • Edited 11:11am May 22, 2008 10:55am | Edited 11:11am
...and.... oil
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  • #10,913
  • May 22, 2008 10:59am May 22, 2008 10:59am
Quoting mbqb11
Not quite, firstly the daily hasn't closed yet.

But to be a DBHLC we want to have matching highs and the close has to be LOWER then the previous bars low

here is an example

Best,
Mike
Take a look at the monthly chart and see what happened in the 1984 after price touched these levels

Canados
  • #10,914
  • May 22, 2008 11:14am May 22, 2008 11:14am
Quoting canados
Take a look at the monthly chart and see what happened in the 1984 after price touched these levels

Canados
Also, sweet bearish pin forming on the weekly:
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Hindsight is 20/20
  • #10,915
  • May 22, 2008 11:23am May 22, 2008 11:23am
Quoting raczekfx
this is what I'm watching like an eagle .....
.

Things are definately getting interesting.
  • #10,916
  • May 22, 2008 12:38pm May 22, 2008 12:38pm
Quoting raczekfx
...and.... oil
Hi,
Could you tell me what is this chart. Is this oil?

Thanks
TS
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Haste not to Enter AND Haste not to Exit !-TradeStar
  • #10,917
  • May 22, 2008 1:47pm May 22, 2008 1:47pm
Quoting TradeStar
Hi,
Could you tell me what is this chart. Is this oil?

Thanks
TS
Yes,
its the july oil futures contract price.
here's an update.
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  • #10,918
  • May 22, 2008 1:50pm May 22, 2008 1:50pm
Quoting joebryce
This thread is invaluable. Thanks to everyone. I played this trade almost identically. Entered on the break of the pin. Took half off around 1.96. Added to my position on the same retrace. Ultimate EW target was 1.9770 area. I put a stop in at 1.9720 thinking maybe we would get there today, then pull back.

I have been trading this market with real money for 4 months. This one trade just made up one quarters worth of 'learning expenses'. All thanks to you fine people, I am confident I can achieve my goals. SeekingLight, I have been stalking you at FF for while (your perspective seems to match mine) and you led me to this thread.

Hey JB.
Congrats and thanks for all the kind words. I'm glad you're finding value in the things we have here. It's always been about sharing and helping each other out here and I am right with James I believe when I say the attitude and "content"(on many levels) here is hard to rival anywhere else.

I'm sorry that I put in the EW stuff, I usually try and keep it pristine and clean here..I just wanted to explain why I'd have been both tempted to sell only for a short drop and was ready to buy back in again as well..but the PA reasons(4h PB down to .618 eye retracement on weekly) would work out fine on their own.

Didn't want to push my Equinox master label anymore than it already is


I'm going to try and work a bit more on making things less complicated for my own sake as well in the future ;P


- Seeking
Trust price. Know yourself.
  • #10,919
  • May 22, 2008 2:50pm May 22, 2008 2:50pm
Quoting cosgrove
Also, sweet bearish pin forming on the weekly:
Look at this DBHLC price action, bouncing of an uppertrend line that has held since 2003.
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  • #10,920
  • May 22, 2008 3:49pm May 22, 2008 3:49pm
Quoting TradeStar
Hi,
Could you tell me what is this chart. Is this oil?

Thanks
TS
Yes, it is, but...... from tomorrow's feed..
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