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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

  • #11,081
  • Jun 3, 2008 12:40pm Jun 3, 2008 12:40pm
Quoting giraia_br
but if it form another price action, like a IB, don't you trade it?

thanks in advance.
Not me, especially not the 4hr charts also. To many IBs on the 4hr charts. Some do, I don't personally. I like to see momentum(follow through) with the next bar

Take care
Mike
  • #11,082
  • Jun 3, 2008 2:25pm Jun 3, 2008 2:25pm
I just wanted to thank James, Jaroo, Mike, Seek, and the rest of the crew. I've been trading forex live for more than 3 weeks now and today has been my best day of trading so far. I can't wait to trade Mini Dow live (made over $1100 in a matter of minutes on demo) And Mike, your pinbar video helped a bunch.

James, you and I have something in common if that's you in the vid that explains the PF: We both have proud southern accents. Take care gang. Hope to be in the private forum before the year is over.
"Don't trade to trade . . . trade to win." - James16
  • #11,083
  • Jun 3, 2008 3:57pm Jun 3, 2008 3:57pm
Quoting bee24
I guess this is just one of those that don't work out, despite looking like a good setup.

Any comments on this? Did anyone else take it ? Why yes or why wouldn't you ?
I took this same trade thinking it was a good PB. Maybe the nose needed to be a little longer? Or maybe we just win some and lose some. Does it make you feel better that someone else lost too. I haven't had much luck with 4hr charts though. I think I'm going to stick to dailys. The PA just seems so much more reliable. I've played other pins on the 4 hr. with similar results.
  • #11,084
  • Jun 3, 2008 6:04pm Jun 3, 2008 6:04pm
I see a pin off a PPZ on the gbpjpy 4hr. I think this is an OK trade. Any comment?
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  • #11,085
  • Jun 3, 2008 6:17pm Jun 3, 2008 6:17pm
Quote
I took this same trade thinking it was a good PB. Maybe the nose needed to be a little longer? Or maybe we just win some and lose some. Does it make you feel better that someone else lost too. I haven't had much luck with 4hr charts though. I think I'm going to stick to dailys. The PA just seems so much more reliable. I've played other pins on the 4 hr. with similar results.


Im with you on the timeframe matter. I played a few "A" pins on the 4hr recently which has lost me money, whereas the day pins seem to play out better. Im sure to a pro they both play out just fine, but since i am not a pro then the dailys timetable is much more reliable for me to work the trade through. It takes more patience but i think its worth it. Until i really MASTER the daily, I think i have learned my lession on trading anything less, which is to stay away from them until ready.
All I ask for is a chance to prove that money cannot make me happy.
  • #11,086
  • Jun 3, 2008 6:30pm Jun 3, 2008 6:30pm
Quoting pipsja
I see a pin off a PPZ on the gbpjpy 4hr. I think this is an OK trade. Any comment?
I wouldn't really class that as an 'A' pin bar. Body is too long and too close to the middle of the bar and also nose doesn't stick out very far.

I am trying to only take the best set ups so this is just my opinion.
  • #11,087
  • Jun 3, 2008 8:01pm Jun 3, 2008 8:01pm
Quoting mbqb11
this was all but a give me

4hr pb with a gap to close
Good trade man.

Quite often the gap closes after a pin too. ....well the ones I trade maybe. LOL

Hope all's fine and the bomb.
Bundy's status today: "Waiting..."
  • #11,088
  • Jun 3, 2008 8:02pm Jun 3, 2008 8:02pm
Quoting ljr
I wouldn't really class that as an 'A' pin bar. Body is too long and too close to the middle of the bar and also nose doesn't stick out very far.

I am trying to only take the best set ups so this is just my opinion.
Yeah, agree, Too neutral Pipsja
Bundy's status today: "Waiting..."
  • #11,089
  • Jun 3, 2008 8:30pm Jun 3, 2008 8:30pm
Quoting Marsh
Im with you on the timeframe matter. I played a few "A" pins on the 4hr recently which has lost me money, whereas the day pins seem to play out better. Im sure to a pro they both play out just fine, but since i am not a pro then the dailys timetable is much more reliable for me to work the trade through. It takes more patience but i think its worth it. Until i really MASTER the daily, I think i have learned my lession on trading anything less, which is to stay away from them until ready.
Sticking to daily charts until you are good has another purpose. I don't think I've ever read of a successful intra day method/system that didn't feature daily and higher time frames as a key to establishing the primary trade direction.

Most intra day trades I take now are due to what I see on these higher time frames and it's working for me. ....any counter-trend trades are strong set-ups I've learnt from experience and are rarer!

So definitely learn to trade daily charts successfully first. You use them later anyway!
Bundy's status today: "Waiting..."
  • #11,090
  • Jun 3, 2008 8:39pm Jun 3, 2008 8:39pm
Quoting bundyraider
Sticking to daily charts until you are good has another purpose. I don't think I've ever read of a successful intra day method/system that didn't feature daily and higher time frames as a key to establishing the primary trade direction.

Most intra day trades I take now are due to what I see on these higher time frames and it's working for me. ....any counter-trend trades are strong set-ups I've learnt from experience and are rarer!

So definitely learn to trade daily charts successfully first. You use them later anyway!
The daily charts are not that clear at times. For instance like GU or recent, it is up today, down tomorrow. This type of chart confuses me. I prefer noting support and resistance and use the 4hr time frame to trade.
  • #11,091
  • Jun 3, 2008 8:44pm Jun 3, 2008 8:44pm
Quoting sarama001
The daily charts are not that clear at times. For instance like GU or recent, it is up today, down tomorrow. This type of chart confuses me. I prefer noting support and resistance and use the 4hr time frame to trade.
I hear you, and I do the same thing, but it's when the daily IS clear that you can get bitten.
Bundy's status today: "Waiting..."
  • #11,092
  • Jun 3, 2008 11:51pm Jun 3, 2008 11:51pm
Quoting sarama001
The daily charts are not that clear at times. For instance like GU or recent, it is up today, down tomorrow. This type of chart confuses me. I prefer noting support and resistance and use the 4hr time frame to trade.
If others aren't comfortable with the 4h when the daily is choppy, the easiest thing to do is just stay out if you aren't sure.

The market will always be here, and there will always be more setups.
Hindsight is 20/20
  • #11,093
  • Jun 4, 2008 3:32am Jun 4, 2008 3:32am
Finally i can write something

I take more than 3 months to read all this thread, i tink that PA have some difficulty but if you understand it, it changes your trading and your way to look the market.

In past i use many indicator, but since sometimes i use only price action on daily and weekly chart, no indicator. And i have better view on the market and his move. So many thanks to all people who take all his time to explain more and more this approch.

I have a bad english but will participate as i can.
Simple Things are the best
  • #11,094
  • Jun 4, 2008 4:17am Jun 4, 2008 4:17am
hello room ithink i locked on this one...it's going up EJ 1 hr
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Respect a man, and he will do all the more.
  • #11,095
  • Jun 4, 2008 5:16am Jun 4, 2008 5:16am
Quoting urchman
hello room ithink i locked on this one...it's going up EJ 1 hr
Hey Urchman,

I think you got this confused a bit. We want the nose to be longer to the down side for it to be a Pinbar. The long nose is going to go opposite where price is actually headed. In this case this is really nothing more then a neutral bar.

here is an example. With a long nose pointing up, this means were looking for price to go down. Also notice that the bottom portion of the bar is small.
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  • #11,096
  • Jun 4, 2008 6:18am Jun 4, 2008 6:18am
I have this PB on my 4h chart, I would appreciate any comment, It appears to be at a swing high, and coming off a ppz, the nose is nice and long and the open and close are fairly close to each other in the bottom third of the candle. From where I am it looks pretty good, but I may be missing something.
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  • #11,097
  • Jun 4, 2008 6:48am Jun 4, 2008 6:48am
Quoting Daymo
I have this PB on my 4h chart, I would appreciate any comment, It appears to be at a swing high, and coming off a ppz, the nose is nice and long and the open and close are fairly close to each other in the bottom third of the candle. From where I am it looks pretty good, but I may be missing something.
Awesome.

Also off a T/L I had drawn for some reason on the weekly. (This is a daily and ignore the incomplete daily bar that looks like a pin. )

In my opinion, worth risking a trade.

Also looking good to be a two bar pin on the IBFX feed.
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Bundy's status today: "Waiting..."
  • #11,098
  • Jun 4, 2008 6:50am Jun 4, 2008 6:50am
Quoting Daymo
I have this PB on my 4h chart, I would appreciate any comment, It appears to be at a swing high, and coming off a ppz, the nose is nice and long and the open and close are fairly close to each other in the bottom third of the candle. From where I am it looks pretty good, but I may be missing something.
Looks like a beautiful set up to me if the pin breaks, thanks for the head's up.
  • #11,099
  • Jun 4, 2008 8:18am Jun 4, 2008 8:18am
Quoting Daymo
I have this PB on my 4h chart, I would appreciate any comment, It appears to be at a swing high, and coming off a ppz, the nose is nice and long and the open and close are fairly close to each other in the bottom third of the candle. From where I am it looks pretty good, but I may be missing something.
Looks like a classical PB. Thanks for the heads up, going to keep an eye on it.
Find an Edge. Only way to succeed in this business.
  • #11,100
  • Jun 4, 2008 9:27am Jun 4, 2008 9:27am
Quoting bundyraider
Awesome.

Also off a T/L I had drawn for some reason on the weekly. (This is a daily and ignore the incomplete daily bar that looks like a pin. )

In my opinion, worth risking a trade.

Also looking good to be a two bar pin on the IBFX feed.
Also, at the top of the BB. I like pins that are positioned there! I'm looking for it to break the pin down first because we still don't know how long its going to go north. The nose is still pretty short too. So its not a trade yet for me but might be a little later on today.
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