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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

  • #2,461
  • Feb 1, 2007 9:33pm Feb 1, 2007 9:33pm
Hi all,

on daily chart there is pinbar on jy,gbp,eur,chf.i found it on interbank.but i cant found it on MIG demo chart.sorry cant attach u'all the chart.my boss gonna kill me if he find out I play play with his internet connection and trade personal acc. so i guess i will be AIDS (As If Doing Something) for now .i enter them last night (gbp short @93,eur short @25,us-jy long @ 49,chf long @ 25.need advise.cheers all.

parlenk
  • #2,462
  • Feb 1, 2007 10:24pm Feb 1, 2007 10:24pm
Anyone looking at this one on swissy??

Matty
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  • #2,463
  • Feb 1, 2007 10:53pm Feb 1, 2007 10:53pm
What is that smiley icon on your chart? is that a sign for "money,money and money?" since they all smile happily. cheers mate.im on that trade since last night.

Quoting Matiasfx
Anyone looking at this one on swissy??

Matty
  • #2,464
  • Feb 1, 2007 11:19pm Feb 1, 2007 11:19pm
Hi Parlenk, good luck on that one!!

the indicator, yeah, something like that..lol Its an indicator made by Aha that shows pin bars... i will put it here for u to have a look

Cheers
Matty
Attached File(s)
File Type: mq4 PinI4Bbar AHA 0[1].1.mq4   9 KB | 1,847 downloads
  • #2,465
  • Feb 1, 2007 11:25pm Feb 1, 2007 11:25pm
Here is one on eurusd daily. Usdchf's opposite buddy.
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  • #2,466
  • Feb 2, 2007 4:45am Feb 2, 2007 4:45am
there is currently an inside bar on the 4 hour here
  • #2,467
  • Feb 2, 2007 5:06am Feb 2, 2007 5:06am
Quoting Matiasfx
Anyone looking at this one on swissy??

Matty

Hey Matty, that daily started the same time I started yelling out EURUSD and GBPUSD 5m,15m,30m,1h pins. But since there was a BEOB before that and on GBPUSD a bullish pin bar etc pp, I think this is just the market trying to say "I DONT KNOW WHERE I WANT TO GO"....

Trading any of these last minute setups is very likely going to be dangerous and as certain as a 50/50 coin toss.
Like already said, most likely better to wait and see what NFP will do and look at the (preferably daily? and weekly)bars after that. And no Bundy, I don't mean those with liquor
Trust price. Know yourself.
  • #2,468
  • Feb 2, 2007 6:05am Feb 2, 2007 6:05am
Quoting SeekingLight
Hey Matty, that daily started the same time I started yelling out EURUSD and GBPUSD 5m,15m,30m,1h pins. But since there was a BEOB before that and on GBPUSD a bullish pin bar etc pp, I think this is just the market trying to say "I DONT KNOW WHERE I WANT TO GO"....

Trading any of these last minute setups is very likely going to be dangerous and as certain as a 50/50 coin toss.
Like already said, most likely better to wait and see what NFP will do and look at the (preferably daily? and weekly)bars after that. And no Bundy, I don't mean those with liquor
DOH!!

Bundy's status today: "Waiting..."
  • #2,469
  • Feb 2, 2007 6:12am Feb 2, 2007 6:12am
NFP is expected to start a new dollar bull run. Goes against some of the price action out there.

So I'm agreeing. ...Best to stay out and take in outcome of the anouncement.

I've had an excellent run this week, so I'm just going to call it for the week. I know from experience now that this is where I tend to over trade.

Have a good weekend y'all!
Bundy's status today: "Waiting..."
  • #2,470
  • Feb 2, 2007 1:35pm Feb 2, 2007 1:35pm
Hi James, on 07-28-05, 1:34pm, you said:

price action in and of itself is a great tool and yes a lot of times they work in and of themselves. but what we really want is multiple signs of a probable winning trade. price action combined with fib ret, monthly and weekly pivot levels, divergence, confluence etc. i will be dissapointed if and when someone goes hey that dblhc did not work and they did not combine other tools to confirm. jim

on 08-12-05, 4:51pm, you said:

YOU DO NOT NEED ANYTHING BUT A KNOWLEDGE OF PRICE ACTION TO BE A SUCCESFUL TRADER. this is something i am going to present in the course (someday), intelligently add in extra ingredients, like your own proven trading system and you have a real shot at success. stay tuned. jim

Can you please explain this seeming contradiction.

Thanx, sp123
  • #2,471
  • Feb 2, 2007 2:06pm Feb 2, 2007 2:06pm
Quoting sp123
Hi James, on 07-28-05, 1:34pm, you said:

price action in and of itself is a great tool and yes a lot of times they work in and of themselves. but what we really want is multiple signs of a probable winning trade. price action combined with fib ret, monthly and weekly pivot levels, divergence, confluence etc. i will be dissapointed if and when someone goes hey that dblhc did not work and they did not combine other tools to confirm. jim

on 08-12-05, 4:51pm, you said:

YOU DO NOT NEED ANYTHING BUT A KNOWLEDGE OF PRICE ACTION TO BE A SUCCESFUL TRADER. this is something i am going to present in the course (someday), intelligently add in extra ingredients, like your own proven trading system and you have a real shot at success. stay tuned. jim

Can you please explain this seeming contradiction.

Thanx, sp123
Hey sp,

Well when James says you do not need anything else but Price Action, he is referring to finding specific Price Action bars, around Confluence(multiple signs of a winning trade). This is all price action though.

Also what he is saying, is once you have a working knowledge of price action, you can apply it to any system to make it better. For instance take the whole SRDC thread. I don't know the ins and outs, but at one part people were drawing channels and playing bounces(I am not sure fully how it worked), but if you add Price Action to the tunnel areas, you are increaseing your odds of a winning trade. So that means looking for Price Action bars AND areas of confluence at the channels.

So adding extra ingredients can be your own trading system or it can be PA by itself(with confluence of course).

I hope I didn't confuse that up more lol

Have a great weekend!
Mike
  • #2,472
  • Feb 2, 2007 3:35pm Feb 2, 2007 3:35pm
Hi guys, another question for all that know the answer,
this has probably been brought up, but anyway, I'm personally finding that
the lower timeframe setups, that is 4hr and below are much more effective from london thru to a few hours into newyork session, but even more effect strictly in new york session.

Do you guys find this to be the case, I'm finding that if I take a 1hr, or even 4hr pin for exmple in asian, price may consolidate after that pin for multiple bars, then often times it seems the pinbar has not much effect compared to if it was higher volatile times.

Any comments on this topic greatly appreciated.

Westie
  • #2,473
  • Feb 2, 2007 4:35pm Feb 2, 2007 4:35pm
mb said it well but i will add this. price action analysis is not a system its a method to determine near term price movement. if you practice and get good at identifying the very best set ups you certainly can trade with nothing else but combining them with simple support and resistance and other tools can help refine entries. i challenge all of you to open a demo account just for trading good price set ups blindly. if you can get to where you can build an account with nothing on your chart but price with no other supporting tools what do you think will happen when you do add them. its about refining and targeting the best possible entry. if you can get good at it with nothing but price on your chart the rest is easy.

Quoting sp123
Hi James, on 07-28-05, 1:34pm, you said:

price action in and of itself is a great tool and yes a lot of times they work in and of themselves. but what we really want is multiple signs of a probable winning trade. price action combined with fib ret, monthly and weekly pivot levels, divergence, confluence etc. i will be dissapointed if and when someone goes hey that dblhc did not work and they did not combine other tools to confirm. jim

on 08-12-05, 4:51pm, you said:

YOU DO NOT NEED ANYTHING BUT A KNOWLEDGE OF PRICE ACTION TO BE A SUCCESFUL TRADER. this is something i am going to present in the course (someday), intelligently add in extra ingredients, like your own proven trading system and you have a real shot at success. stay tuned. jim

Can you please explain this seeming contradiction.

Thanx, sp123
  • #2,474
  • Feb 2, 2007 11:12pm Feb 2, 2007 11:12pm
watch this pair:
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  • #2,475
  • Feb 3, 2007 9:52am Feb 3, 2007 9:52am
isnt the risk to reward low on this one, it looks like the daily is working on a short pinbar situation?
  • #2,476
  • Feb 3, 2007 5:32pm Feb 3, 2007 5:32pm
this is the daily chart dont the 4 hour look ripe for a short?
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  • #2,477
  • Feb 4, 2007 6:13am Feb 4, 2007 6:13am
how about this one
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  • #2,478
  • Feb 4, 2007 6:27am Feb 4, 2007 6:27am
If that pin fails perhaps
Quoting Jimmywa
this is the daily chart dont the 4 hour look ripe for a short?
GOD IS NOT SHORT OF CASH
  • #2,479
  • Feb 4, 2007 1:42pm Feb 4, 2007 1:42pm
[quote]bapho -how about this one[quote]


I am not sure what you are seeing in the chart, perhaps the break of a recent high with a bub? I would wait for further confirmation, the bar did not penetrate to deeply past the previous high and closed around it. Be patient..........that is the most valuable thing that I have learned from James. Another great trade is just around the corner. Good luck.

RSQ
  • #2,480
  • Feb 4, 2007 4:08pm Feb 4, 2007 4:08pm
This chart pretty much shows the ambiguity of the market and the same state I am in currently.

We were rising so nicely in a price channel, fell out of it, tried to scramble and recover, then got the usual "bounce from the former s now turned r channel bottom" which in this case ALSO coincided with a descending trendline.

Until either the PB lows or the monthly high / descending TL is broken, I have pretty much no clue about what's going to happen next...any takers?

EJ and GJ are as contradictory, too, GJ hit a TL and is pausing, EJ is at the pin bar eye level but ALSO on a lower timeframe (4h) made a BEOB and seems to be heavy as well...

Who ken thar yen?

(My best guess is even tho monthly is still pointing up, weekly has gone sideways and we made a high above 121.55 we couldn't sustain. We may have just swung back up to get some decent sellers and if the buyers get fed up enough and the sellers persist, then we should get a dip back to the sub 120s...no?)
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Trust price. Know yourself.
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