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Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
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james16 Chart Thread

Quoting eraserhead
Hello, are you still long on this with a portion of the trade? It seems to me that the pin bar is going to give up.
the price has retraced just too much for anyone who traded this pin bar, personally i want to give this pin bar all the chance i can within my MM, on my feed we're just a few pips from the tip of the nose of the PB, i plan to hold the trade for some more time, a few hours...

i am down on the lower tfs and looking to hunt the bears down, anybody with me?...
I believe . . .
Quoting ghous
the price has retraced just too much for anyone who traded this pin bar, personally i want to give this pin bar all the chance i can within my MM, on my feed we're just a few pips from the tip of the nose of the PB, i plan to hold the trade for some more time, a few hours...

i am down on the lower tfs and looking to hunt the bears down, anybody with me?...
here is soemthing interseting i see on the 4H chart...

nice bullish divergence with the macd, my only concern is that i would have rather have wanted the diverhence to show itself from the previous bounce of the white tl, it did bounce but went straight down...with the macd revealing a nice sized low, i wonder if the divergence is looking to correct itself...

neverthless i still know i have hope left for my long, the next few hours should clarify things further...

Regards,
Ghous.
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I believe . . .
Quoting eraserhead
Hello, are you still long on this with a portion of the trade? It seems to me that the pin bar is going to give up.
Was. Yes. Just got stopped out. LOL

I got rid of my first 2/3rds position at 162.95. Would have been nice to see 163.90 at least.
Never got a chance to move the stop on the remainder even once.

Even when I went back over all my charts a couple of hours ago this looked like bouncing and continuing up from around the 161.00 zone. Even thought about watching for a new entry!!. LOL

With that very close first target from my entry point, this has ended up a loss overall. Partly payed for... ...but still a loss.

Doesn't matter. Like I said before, it's a numbers game: ....Some lose, some gain and others don't seem to be worth it.
They are worth it though. ...You need to consistently trade them for the chance at the pay off trades.

So no regrets here.
( Except possibly entering a trade that had a very tight first target relative to the stop. I've been a little uncomfortable with that since I pointed it out.)

Maybe we'll get a short entry the next few days now. ( ...possibly a pull-back trade ) We'll see.
Bundy's status today: "Waiting..."
...Part 2.

Chart to go with above post.

Sorry about the late replies EH.
.
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Bundy's status today: "Waiting..."
Quoting bundyraider
Was. Yes. Just got stopped out. LOL

I got rid of my first 2/3rds position at 162.95. Would have been nice to see 163.90 at least.
Never got a chance to move the stop on the remainder even once.

Even when I went back over all my charts a couple of hours ago this looked like bouncing and continuing up from around the 161.00 zone. Even thought about watching for a new entry!!. LOL

With that very close first target from my entry point, this has ended up a loss overall. Partly payed for... ...but still a loss.

Doesn't matter. Like I said before, it's a numbers game: ....Some lose, some gain and others don't seem to be worth it.
They are worth it though. ...You need to consistently trade them for the chance at the pay off trades.

So no regrets here.
( Except possibly entering a trade that had a very tight first target relative to the stop. I've been a little uncomfortable with that since I pointed it out.)

Maybe we'll get a short entry the next few days now. ( ...possibly a pull-back trade ) We'll see.
any comment on the NZD/USD pin bar? Is it going to be beated as well? Such a bad moment for james16 ts, isn't it?
Quoting eraserhead
any comment on the NZD/USD pin bar? Is it going to be beated as well? Such a bad moment for james16 ts, isn't it?
Are you referring to the pinbar from 2 weeks ago? I'm still not an expert at all james16 knowledge, but I think that pinbar has played out (and I would guess it paid out for those that traded it well). There is definitely traffic in the area where the pair stopped last week and it bounced right off the 150 EMA on the weekly. Since it's a weekly chart, some might call last week's bar a pinbar in the opposite direction. I'd love to hear other comments.

Good trading,
Brian
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Quoting eraserhead
any comment on the NZD/USD pin bar? Is it going to be beated as well? Such a bad moment for james16 ts, isn't it?
I haven't been watching that pair dude. You mean the weekly pin I presume?

I wouldn't have entered against the pivot zone it sat on. ( I don't think . Easy to say that now. )

You 'd need the opinion of someone who's planned it out on that one. Anyone??

Anyway, if you've stuck it out on the time frame you entered on you would probably have taken some profit with the stop on the remaining STILL sitting below the pin. That's if you're trading the weekly chart on that trade, (with the appropriate position size, of course)

And I wouldn't say bad moment for James16 trades. There will be people who have gained and people who have lost. Depending on there style of trading and what they traded and how well they have the head around it all.

,B

Edit: Thanks Brian. Better job of the chart than me. LOL
Bundy's status today: "Waiting..."
Quoting bundyraider
...Part 2.

Chart to go with above post.

Sorry about the late replies EH.
.
Bundy, on your chart you put "IB come DBLHC". Which bars did you mean - as IB cannot have "higher close" (otherwise it is not an INSIDE bar... )?
One Chart is Worth Ten Thousand Words.
See post 12748 for my thoughts. I had the same thought you have now. I did not take that PB because I believed it was likely that price would reverse in that area. If the PPZ would have been a daily PPZ I would have taken that PB.

Scott

Quoting bundyraider
I haven't been watching that pair dude. You mean the weekly pin I presume?

I wouldn't have entered against the pivot zone it sat on. ( I don't think . Easy to say that now. )

You 'd need the opinion of someone who's planned it out on that one. Anyone??

Anyway, if you've stuck it out on the time frame you entered on you would probably have taken some profit with the stop on the remaining STILL sitting below the pin. That's if you're trading the weekly chart on that trade, (with the appropriate position size, of course)

And I wouldn't say bad moment for James16 trades. There will be people who have gained and people who have lost. Depending on there style of trading and what they traded and how well they have the head around it all.

,B

Edit: Thanks Brian. Better job of the chart than me. LOL
Quoting Forex007
Bundy, on your chart you put "IB come DBLHC". Which bars did you mean - as IB cannot have "higher close" (otherwise it is not an INSIDE bar... )?
Damn! Was hoping I'd get away without drawing those time consuming arrows.

I put a dark yellow box around them in the chart.

Inside bar. And then the smaller bar was followed by a higher closing bar that matched it's low. The higher close was right close to the end of the bar.
...I like that look.

Good place to buy. It just got smacked around by a news announcement ,obviously.
Bundy's status today: "Waiting..."
Quoting phpscott
See post 12748 for my thoughts. I had the same thought you have now. I did not take that PB because I believed it was likely that price would reverse in that area. If the PPZ would have been a daily PPZ I would have taken that PB.

Scott
Right on brud!

You know what they say.... Great minds....
Bundy's status today: "Waiting..."
Quoting bundyraider
Good place to buy. It just got smacked around by a news announcement ,obviously.
Got it, thank you, Bundy!
One Chart is Worth Ten Thousand Words.
Anyone seeing Bearish Engulfing Bar on the usd/cad 4hr with nice weekly and monthly pivot points confluence?
Also a 4hr pinbar on the aud/usd with a nice PPZ daily cushion.
Sorry can't post any charts right now.
Here are the charts. Both trades are not taken. The PB is not exactly an "A" PB. I would like the shadow to be longer. The other signal in usd/cad is also being passed cause the risk and reward are just not encouraging enough.
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Quoting ghous
here are a few examples to prove this...
great post. I had noticed this myself especially on uj recently...
Quoting y.caesar
Here are the charts. Both trades are not taken. The PB is not exactly an "A" PB. I would like the shadow to be longer. The other signal in usd/cad is also being passed cause the risk and reward are just not encouraging enough.

good to see that you were able to avoid this trade, the pin bar on 4H Au did actually work out as price did make it to the north, though unable to close with authority...to me Au is far from a long and since i trade only daily and above i won't even think of a long till i see this bearish momentum come to an end...(refer to Au chart...)

as for usd/cad i am eyeing it for a short, (the trade you mentioned on the 4H may well have been on) as a hold for a long term trade, previously this position was taken up by Nu which was looking good for a nice longer term upmove, but it's not been a good boy so far, so i closed my Nu long and am looking forward to the usd/cad short...reasons? here they are...(refer to chart)
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I believe . . .
Update to my last post.

Price broke the pin and moved approx 70 pips to ultimate high for the move.

Stop loss was approx 230 pips if below the pin.

If trading this in the simplest way recommended (break of pin high with stop loss below) it was another loser.










Quoting fxprocessor
EURJPY hasn't responded so well to the last two pin bars. Third time lucky maybe? I won't be taking it so maybe it will be a great trade :-)

I agree that the NZDUSD long does look promising as a long term hold
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Quoting eraserhead
any comment on the NZD/USD pin bar? Is it going to be beated as well? Such a bad moment for james16 ts, isn't it?
here is how i played the recent kiwi price action ...

instead of playing the weekly pin bar i traded from the daily charts.

1st, at "A" (BUOB) i entered a long order (there were supporting factors for this) ... it didn't trigger, but at "B" a double top formed where price couldn't close lower than the previous day's low giving me a clue that perhaps the BUOB is still in play and i could play a break-out from the top again so i moved my time stop up a day. my order triggered and as price moved up (BUOB at "C" confirmed the trade again), i trailed my stop according to my MM/RR rules ... i got kicked out at "D" ... w/ 46 pips profit locked in. i decided to enter at the break of the BEOB at "D" - why did i get back in going short? take a look at august 2007 ... it's copycat price action ... since my trade is based on a chance this trade could also be very short-lived (i.e., i planned for that) ... i am trailing my stop again in a manner that will lock in a few pips (or to break even if necessary -- it's at 100 pips so far) so that no matter what happens next, my trade is positive (break even is positive to me) and i followed my rules for MM/RR, etc. as for the weekly pin bar, i kept my eye on it, but kept a closer eye on my profits here (learning from some other traders on this thread).

so, IMO, not bad at all for j16 PA ... i've also decided it's okay to think outside of the box a little on this stuff ...

peace and good trading to all.
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"Believe nothing you hear and half of what you see." Proverb
that is precisely why u don't let a winner turn into a looser. when that pin broke for 70 pips north you should have put your stop at break even.

You were hoping for a big move right off the bat and it didn't happen.
If you put your stop at break even, on daily charts, every time it moves 70 pips in your favor on a pair like EURJPY (average daily range in excess of 150 pips) you will cut most of your winners dead.

Backtest it as I have to see for yourself.

cheers

FXP


Quoting Razorman
that is precisely why u don't let a winner turn into a looser. when that pin broke for 70 pips north you should have put your stop at break even.

You were hoping for a big move right off the bat and it didn't happen.
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