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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

  • #13,181
  • Aug 27, 2008 10:43am Aug 27, 2008 10:43am
I see a PB on my gft feed in UJ but someone posted a chart on the UJ thread and it doesnt look the same. Is anyone else seeing that on the daily? I wanted some thought on that one as I'm still familiarizing myself with the this style of trading. Thanks.
Patience + Humility + Study = Success
  • #13,182
  • Aug 27, 2008 11:33am Aug 27, 2008 11:33am
Quoting Jankone
Hi folks,
question, there is big one problem, I see pin bar, a great pin bar, @ Oanda. but Interbank no pinbar, my broker - retarded pinbar..What do you play as #1 ?
I dont really know where I should trade. I cant watch 3-4 brokers every day,it's crazy.thanks a lot
Some people watch multiple broker charting.

My opinion(after doing the former), is just find one broker charting you are comfortable and stick to that

Keep things simple


Also here is an update to that USD/CHF chart. What James teaches works over and over and over, no indicators, no BS.

Mike
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  • #13,183
  • Aug 27, 2008 11:48am Aug 27, 2008 11:48am
Quoting DutchTrader
I see a PB on my gft feed in UJ but someone posted a chart on the UJ thread and it doesnt look the same. Is anyone else seeing that on the daily? I wanted some thought on that one as I'm still familiarizing myself with the this style of trading. Thanks.
Hi Dutch trader and Jankone,

if you are using diff brokers for your market watch this kind of confusion may generate, these were among my first worries when i started trading PA. one of the few possible reasons for this could be that you're probably too busy finding the "best looking" PA signal, for example when youre looking for pin bar you're committed to hunting for ones with long noses and well developed eyes and/or small to absent bodies, all that this damn broker feed can do is to disturb the shape of the bars a bit, no feed is different enough to show a pin bar with a nose to the south while the rest are showing PB's with noses to the north, atleast not on the higher tfs, so again if you're trading higher tfs, (4H and above) feed should'nt be a problem, just learn to spot the setups well, with other indications like confluences, divergences etc, to add more weight to a PA signal besides the shape and size of the bars...i.e the bar shapes and sizes are important and most PA indication formations are based on this but more important is the time and plaace on which they occur...

Regards,
Ghous.
I believe . . .
  • #13,184
  • Aug 27, 2008 12:06pm Aug 27, 2008 12:06pm
Hi guys,

so here is the Ej long from the pin bar on the weekly, my SL is at 159.7, which is just under the nose of the Pin bar, at first upon taking the trade my first thought was to place the SL at the low of the pin bar, but then i spotted this horizontal level extracting some respect from price (now my SL level with ditted red line on the attacthed chart) which was just a few pips under the nose, i thus targeted this level, although i knew i had little chance against the bearish Monday and Tuesday price somehow seems to have finally found some support, does the trade now have a valid chance to go positive? time will tell, but i am glad i atleast gave it all the trust i could within my MM constraints...
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I believe . . .
  • #13,185
  • Aug 27, 2008 12:15pm Aug 27, 2008 12:15pm
Yes, the two day Daily Pin Bar work on OIL. For those that have asked.
And went down to the next PPZ as expected.
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Indicators show the past. Price Action "Indicates" the future.
  • #13,186
  • Aug 27, 2008 12:41pm Aug 27, 2008 12:41pm
Hi guys,

here is Usd/chf...
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I believe . . .
  • #13,187
  • Aug 27, 2008 12:55pm Aug 27, 2008 12:55pm
Quoting ghous
Hi guys,

here is Usd/chf...
usd/chf is interesting indeed
Patience + Humility + Study = Success
  • #13,188
  • Aug 27, 2008 1:47pm Aug 27, 2008 1:47pm
Quoting ghous
here is Usd/chf... "10 attempts ... what should one expect ...
... 11th time's a charm??
"Believe nothing you hear and half of what you see." Proverb
  • #13,189
  • Aug 27, 2008 2:26pm Aug 27, 2008 2:26pm
Thx for advice, I try to make my trading simple,No one million indicators or oscillators, nothing but price and ppz. so i will choose one.
happy pipping
Quoting mbqb11
Some people watch multiple broker charting.

My opinion(after doing the former), is just find one broker charting you are comfortable and stick to that

Keep things simple

Mike
  • #13,190
  • Aug 27, 2008 3:00pm Aug 27, 2008 3:00pm
how about aud/nzd ? (its more a rhetoric question).

pinbar near ema 150 and confirmed by todays bearish candle...
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  • #13,191
  • Aug 27, 2008 6:06pm Aug 27, 2008 6:06pm
Quoting ghous
Hi guys,

here is Usd/chf...
Hm, that's what I said y/day...

http://www.forexfactory.com/showpost...ostcount=13170
One Chart is Worth Ten Thousand Words.
  • #13,192
  • Aug 27, 2008 9:38pm Aug 27, 2008 9:38pm
Nice long nose but in too much traffic in my opinion.

Scott

Quoting peaches
how about aud/nzd ? (its more a rhetoric question).

pinbar near ema 150 and confirmed by todays bearish candle...
  • #13,193
  • Aug 28, 2008 2:12am Aug 28, 2008 2:12am
Quoting giraia_br
weekly chart

first test of a H&S, 38,2 FIB and almost at the 150 EMA. Maybe will form a PB?

all you remember that? I think i will buy now at 199.78
  • #13,194
  • Aug 28, 2008 4:11am Aug 28, 2008 4:11am
Quoting giraia_br
all you remember that? I think i will buy now at 199.78
i would look for a super duper setup with evefything perfect abt it to even think abt going long Gj, wonder what makes you feel like going long? any signs that you see which suggest the end of this down thrust?

Regards,
Ghous.
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I believe . . .
  • #13,195
  • Aug 28, 2008 4:16am Aug 28, 2008 4:16am
Quoting peaches
how about aud/nzd ? (its more a rhetoric question).

pinbar near ema 150 and confirmed by todays bearish candle...
Nice one Peaches......did you take it?
I believe . . .
  • #13,196
  • Aug 28, 2008 9:21am Aug 28, 2008 9:21am
I have a question for the seniors here regarding multiple consecutive pinbar. Chart is attached. Regardless of the instrument or the time frame, if it's resting on a valid PPZ, would you take the trade? Would you consider the previous PB to be a prior low?



Originally Posted by mbqb11 http://forexfactory.com/images/buttons/viewpost.gif
"Traffic" [] refers to when price is moving sideways OR when there are prior lows/high getting in the way''
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  • #13,197
  • Edited 1:04pm Aug 28, 2008 12:40pm | Edited 1:04pm
Quoting y.caesar
I have a question for the seniors here regarding multiple consecutive pinbar. Chart is attached. Regardless of the instrument or the time frame, if it's resting on a valid PPZ, would you take the trade? Would you consider the previous PB to be a prior low?



Originally Posted by mbqb11 http://forexfactory.com/images/buttons/viewpost.gif
"Traffic" [] refers to when price is moving sideways OR when there are prior lows/high getting in the way''
i feel very comfortable considering double or triple pins along ppzs as great setups. there is nothing wrong with two tails instead of one telling you the way,

let's take a look at it technically....you see the first pin on a ppz, your first thought and anticipation is that the price should go opposite to the direction of the nose, however price wants to test this ppz again to see if it can break it, yet again it fails and the price closes as a pin again,

another aspect which is important in such a situation...how exactly do you measure a ppz's strenghth?? it's obviosuly the number of times price found res/sup on it and the size of the bounces that occured off it. now when you visibly see that the price has been rejected twice in the forms of tails from a major ppz why should you hesitate to take the trade, just because you see two valid pins instead of one? i don't think so...

you just need to make sure that you're looking at the pins (or bars with tails) along a major ppz to ensure that it's just the price trying to test a ppz and not a biased momentum busy breaking a short term res/sup level.

ps as far as traffic is concerned i define traffic as an unbiased situation (present present state of the market) where botht the bulls and the bears are active, it is denoted by tails in both directions and/or sideways movment and/or diff color good sized bars in quick succession when any of these conditions prevail i may not consider the two/three pin/tail setup as valid infact i may not cinsider any setup valid atall...

here are a few examples on a couple of major pairs to give you an idea...

Regards,
Ghous.
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I believe . . .
  • #13,198
  • Aug 28, 2008 2:18pm Aug 28, 2008 2:18pm
Quoting ghous
Nice one Peaches......did you take it?
thank ghous,

yes i took it, but missed to take profit, as I was in good position.
I`am not able to watch the price the whole day on lower timeframes.

On the otherhand, this is a double bar low, with a higher close today, imho

There is too much traffic around.

I`am looking for a fibo retracement on lower timframes and will
close my position.
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  • #13,199
  • Aug 28, 2008 2:40pm Aug 28, 2008 2:40pm
Quoting ghous
i would look for a super duper setup with evefything perfect abt it to even think abt going long Gj, wonder what makes you feel like going long? any signs that you see which suggest the end of this down thrust?

Regards,
Ghous.
yes a sign of bulls taking over would be great

some people who trade using elliot wave's theory say that the B wave will start any time now

the B wave will push the price higher :O
  • #13,200
  • Aug 28, 2008 3:41pm Aug 28, 2008 3:41pm
calling all traffic experts ...

feedback on whether areas denoted by A, B, C constitute too much traffic to make this an A+ set-up off today's seemingly good pin bar.

thanks always for any and all discussion.
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"Believe nothing you hear and half of what you see." Proverb
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