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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

  • #2,741
  • Feb 22, 2007 4:37pm Feb 22, 2007 4:37pm
good mb. keep in mind its another one of those pins fighting against an outside bar. if it does break long it may very well stall at the 50 ret. see why?

Quoting mbqb11
Here is one to watch, were stuck in this channel here
  • #2,742
  • Feb 22, 2007 4:39pm Feb 22, 2007 4:39pm
Quoting james16
good mb. keep in mind its another one of those pins fighting against an outside bar.
Yep and stuck in b/w 365/200 on 4hr and that minor price pivot! I could be getting antsy been a slow few weeks trading.



a retrace could be good for some 50+ pts this pair. Maybe time to start my weekend:
  • #2,743
  • Feb 22, 2007 4:48pm Feb 22, 2007 4:48pm
no you were right the first time. i jumped the gun by not reading your post more closely.. your right on as usual. i will delete your last post so no one gets confused.
Quoting mbqb11
Lol edited my post minor PP, OK im sunk canclled my pending order lol. This is what i get for sleepin 1 hour in 2 days!

Thanks James!
  • #2,744
  • Feb 23, 2007 1:17am Feb 23, 2007 1:17am
New here. Nice setup in the daily CHF/JPY. I am not sure but it looks to me like a pin bar (with a doji and engulfing bullish bar), followed by a dlhc and a subsequent break of the upper channel trendline. Am I reading that chart correctly? Thanks
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  • #2,745
  • Feb 23, 2007 2:59am Feb 23, 2007 2:59am
the pound dollar looks to be setting up a double bar high lower close I know this is premature but the high for the week is 1.9601 at least on my charts just don't see it breaking out here on friday
  • #2,746
  • Feb 23, 2007 3:10am Feb 23, 2007 3:10am
Quoting 59fender
the pound dollar looks to be setting up a double bar high lower close I know this is premature but the high for the week is 1.9601 at least on my charts just don't see it breaking out here on friday
For that to happen we'd have to close below 1.9458. That would mean SOMETHING would have to shake the glass again today, and I don't see any more news.
I think weekly will make an inside bar (we barely moved 180 pips) and a break will decide. I favor a break to the upside after last week made a doji at the .786 after the two week PB formation.

Posted this 1-2 times before in this thread in the last few days as a possible perspective in case people are wondering about the bars and fibs.

That would end the retrace and allow us to move out again. It IS a bit suspicious that we moved back "inside" the 2 bar weekly formation, so caution is warranted. I'm still biased to the upside as long as the .786 at 1.9400 holds.
Trust price. Know yourself.
  • #2,747
  • Feb 23, 2007 3:49am Feb 23, 2007 3:49am
[quote=SeekingLight;226349]For that to happen we'd have to close below 1.9458. That would mean SOMETHING would have to shake the glass again today, and I don't see any more news.
I think weekly will make an inside bar (we barely moved 180 pips) and a break will decide. I favor a break to the upside after last week made a doji at the .786 after the two week PB formation.

Posted this 1-2 times before in this thread in the last few days as a possible perspective in case people are wondering about the bars and fibs.

That would end the retrace and allow us to move out again. It IS a bit suspicious that we moved back "inside" the 2 bar weekly formation, so caution is warranted. I'm still biased to the upside as long as the .786 at 1.my mistake I was thinking the closing price had to be lower than the opening price I didn't realize it had to close below the bottom of the previous candle thanks for clearing that up
  • #2,748
  • Feb 23, 2007 4:55am Feb 23, 2007 4:55am
Quoting mbqb11
I could be getting antsy been a slow few weeks trading.
So I haven't been missing much then?
Bundy's status today: "Waiting..."
  • #2,749
  • Feb 23, 2007 5:24am Feb 23, 2007 5:24am
Quoting bundyraider
So I haven't been missing much then?
You missed this trade or the equivalent EJ / USDJPY one if you weren't trading and also this one
Other than that, I don't think there were that many superduper trades these last few terribly sluggish days...most of the fun was in crosses and exotics, the majors were dead boring...

Good to have you back though!

Btw, I see cable took the hint and finally moved > those 180 pips weekly range hehehe....like a girl, you just got to spite and tease a little and then they wake up
Trust price. Know yourself.
  • #2,750
  • Edited 6:09am Feb 23, 2007 5:34am | Edited 6:09am
And since we can't go so many posts without a chart, here's something for people addicted to scalping....I always will remember that one post where James wrote, to paraphrase: "if you have to trade intraday, you can also use price action. in fact, it's the best way to".

S/R, Fibs + PA => Profit

But really, I just make these charts when I'm bored or when price is coming back and I'm trying to distract myself like now

P.S.: I think this was my 750th post Yay! What better place to have it than right in here, where it all began and in honor of James

I want to take this opportunity to once again thank everyone helping others out without asking anything in return and being the exemplary chaps that they are =)
It's real fun seeing you guys at work and this place certainly wouldn't be the same without you.

So thanks all of you guys for being here and for making FF what it is =)
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Trust price. Know yourself.
  • #2,751
  • Feb 23, 2007 9:37am Feb 23, 2007 9:37am
Quoting james16
good mb. keep in mind its another one of those pins fighting against an outside bar. if it does break long it may very well stall at the 50 ret. see why?
James, if it weren't an buob, but just a huge bub, would u have the same reservations?

sp
  • #2,752
  • Feb 23, 2007 10:49am Feb 23, 2007 10:49am
Quoting bundyraider
So I haven't been missing much then?

Wow I have been wondering where you have been? Whats up BUNNY? Hope all his well?

Seeking nice early entry on the pound. Like i told you i was waiting for the break so I got in a lot later but still pick up some nice pips.


Have a good weekend all!

Mike
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  • #2,753
  • Feb 23, 2007 11:11am Feb 23, 2007 11:11am
the outside bar is certainly more prominent. the bars themselves are important but if you pay attention to the price flips you will see why in and of themselves they are not the total key to understanding price movement. after practicing them for a while you will learn by trial and error when and how to play them in conjunction with the support and resistance areas we so often discuss in the pf. just takes practice. most new traders want to be spoon fed. give me what works. give me an exact methodology that gets me in with no thought on my own and out with no thought on my own. by and large they have no desire to spend the time and effort required to get good at this business and the slaughter marches on. you sp like a lot of people that find thier way into the pf are different.

Quoting sp123
James, if it weren't an buob, but just a huge bub, would u have the same reservations?

sp
  • #2,754
  • Feb 23, 2007 11:13am Feb 23, 2007 11:13am
Quoting mbqb11
Seeking nice early entry on the pound. Like i told you i was waiting for the break so I got in a lot later but still pick up some nice pips.

Have a good weekend all!

Mike
Thanks
Yea, that TBH is where I just put a tiny tiny small buy order, pretending I'm one very big fat rich bank and wondering where I would buy again
Let's see how it goes...nice to see you got some of the fun, too....really hope we'll move out for good next week after a bounce from the trendlines and not crash on back through...

Have a nice weekend as well!
Trust price. Know yourself.
  • #2,755
  • Feb 23, 2007 9:45pm Feb 23, 2007 9:45pm
Quoting mbqb11
Wow I have been wondering where you have been? Whats up BUNNY? Hope all his well?

Seeking nice early entry on the pound. Like i told you i was waiting for the break so I got in a lot later but still pick up some nice pips.


Have a good weekend all!

Mike
Hi Mike,

I did the same thing yesterday. Entered at 1.9610 on the break of TBH and the trend line and exited at 1.9645 for 35 pips. There was a lot of resistance around 1.9640 area. Plus it's the weekend so I bailed out quick.

Have a good weekend!

Ken
  • #2,756
  • Feb 24, 2007 10:37am Feb 24, 2007 10:37am
Hi all.

New to forex,trying to educate myself by reading all the threads I can.

Could someone please explain what is meant by PB?

Also could you point me to the post where this method is outlined in its latest form, including setting ect.

Cheers!
  • #2,757
  • Feb 24, 2007 10:56am Feb 24, 2007 10:56am
Dear FOURX,
please, do yourself a favour and read the thread!

PB is PinBar...

Bluefish
  • #2,758
  • Edited 12:02pm Feb 24, 2007 11:20am | Edited 12:02pm
Dear bluefish,

My eyes have segs with all the reading.As I stated I am educating myself, I figure most things out without having to ask for help.Pin bar is a term I have not come across before and would like explaining.
  • #2,759
  • Feb 24, 2007 11:31am Feb 24, 2007 11:31am
Quoting FOURX
Dear bluefish,

My eyes have segs with all the reading.As I stated I am educating myself, I figure most things out without having to ask for help.Pin bar is a term I have not come across before and would like explaining,preferably not by you so wind your neck in!

Apoligies to James for the tone on your thread.
Hey Fourx welcome here good to have you

I think blue was jusut trying to help not be mean This thread is filled with tons of tons of great information! A ton of bar examples, and it is well worth the long read. I know it served me well(have been throguh the whole thing more then 5 times)

But lemme answer your question. A pin bar is a bar that has its close and open within the prior bar. It also has a long "nose" which is protruding away further from the other bars. It is easiest to explain with a chart, let me post one for you.

A few notes. It is more important where these bars are located. They are best at areas of confluence and swing highs and lows(you will read about this as you go through the thread.

As always demo trade to get the feel for it, it is AMAZING stuff,

Again good to have you welcome to this awesome thread!

Mike
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  • #2,760
  • Feb 24, 2007 11:45am Feb 24, 2007 11:45am
Cheers Mike,
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