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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

  • #14,301
  • Oct 9, 2008 5:35pm Oct 9, 2008 5:35pm
but dont be lazy and search for PIN BARS and how they looks like and WHERE they should be


Quoting FtotheX
Hello everybody. This is my first post in this tread. Pretty big PB forming on the eur/jpy daily.
  • #14,302
  • Oct 9, 2008 5:37pm Oct 9, 2008 5:37pm
Quoting Jankone
but dont be lazy and search for PIN BARS and how they looks like and WHERE they should be
My bad, thought that was one.
  • #14,303
  • Oct 9, 2008 5:37pm Oct 9, 2008 5:37pm
Good luck and take care. (and check DJ or S&P 500)

Quoting HipsterPipster
Pending Gold short to 900.00
  • #14,304
  • Oct 9, 2008 6:36pm Oct 9, 2008 6:36pm
Quoting FtotheX
My bad, thought that was one.
Hey,
That is a pin bar as far as the formation goes. It's just the location isn't great. It's good in the sense that it's going with a strong trend, but you want pin bars to stick out and away from bars to the left. This one is in what most call "traffic". There's no room/space between it and price before it.

Tom
  • #14,305
  • Edited 11:43pm Oct 9, 2008 8:24pm | Edited 11:43pm
Quoting fjaragon
Ok Jarroo, thanks a lot for your answer, iŽll keep this in mind! and will be watching other timeframes to have better entries or exits.

thanks,

Francisco
Hang in there fjar. I know the feeling of seeing Price Action and it works out yet I'm here with a loss. WTF?

You'll get there my friend.

I forgot to mention that Price Action on higher time frames (Daily and Weekly) tend to retrace more often. Also, the general rule of thumb with DBHLC (and DBLHC) is that Price will retrace to the 1st Bar of the two Bar formation. (blue lines)
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #14,306
  • Oct 9, 2008 8:32pm Oct 9, 2008 8:32pm
Quoting HipsterPipster
Nice short
Great charts Hipster.

I love these types of retrace PBs with the trend.
Indicators show the past. Price Action "Indicates" the future.
  • #14,307
  • Oct 9, 2008 8:50pm Oct 9, 2008 8:50pm
Quoting moneybags
Hey,
That is a pin bar as far as the formation goes. It's just the location isn't great. It's good in the sense that it's going with a strong trend, but you want pin bars to stick out and away from bars to the left. This one is in what most call "traffic". There's no room/space between it and price before it.

Tom
Thanks for the help Tom.
  • #14,308
  • Oct 9, 2008 9:19pm Oct 9, 2008 9:19pm
Hi there,

I am not new to trading but new to forex and actually new to the pinbar method. I am just going over charts and what not and been getting a ton of screen time on the demo for a few months. The question with the pb I have after reading the thread and some of James pdf files I found on the internet is the entry. Its a little confusing for me the entry. I have read James intro to pbs pdf and the adavanced one. On entry do you enter as the pin bar closes or wait till the second eye forms? Sometimes I see an eye then the pb and then a really long eye, and that is the problem , obvisouly in hindsight if I were to go in when the pb closes would have a great trade but if I waited for the second eye to close and it closed way down I am a little uncomfortable getting in thinkin I have missed the down move. Any thoughts or advice on entry would be appreciated. As of now I trade the minis for a living but trying to make the transition in FX eventually. Thanks again
  • #14,309
  • Oct 9, 2008 9:59pm Oct 9, 2008 9:59pm
Quoting ranger
Hi there,

I am not new to trading but new to forex and actually new to the pinbar method. I am just going over charts and what not and been getting a ton of screen time on the demo for a few months. The question with the pb I have after reading the thread and some of James pdf files I found on the internet is the entry. Its a little confusing for me the entry. I have read James intro to pbs pdf and the adavanced one. On entry do you enter as the pin bar closes or wait till the second eye forms? Sometimes I see an eye then the pb and then a really long eye, and that is the problem , obvisouly in hindsight if I were to go in when the pb closes would have a great trade but if I waited for the second eye to close and it closed way down I am a little uncomfortable getting in thinkin I have missed the down move. Any thoughts or advice on entry would be appreciated. As of now I trade the minis for a living but trying to make the transition in FX eventually. Thanks again
Hello. The way most people do it is enter when the high/low of the pin bar is breached. In the euro/dollar chart here, you enter when the low is taken out (at the red line).
Attached Image (click to enlarge)
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  • #14,310
  • Oct 10, 2008 12:57am Oct 10, 2008 12:57am
Quoting jarroo
Great charts Hipster.

I love these types of retrace PBs with the trend.
Especially with this volatility and speed.
  • #14,311
  • Oct 10, 2008 2:17am Oct 10, 2008 2:17am
Here's another setup. Break of daily inside bar to the downside. It also completes head and shoulders on the 4 hour chart.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: uchf 4hr.gif Size: 23 KB
  • #14,312
  • Oct 10, 2008 5:00am Oct 10, 2008 5:00am
Quoting jarroo
Great charts Hipster.

I love these types of retrace PBs with the trend.
I second all of that...

Quoting jarroo
Hang in there fjar. I know the feeling of seeing Price Action and it works out yet I'm here with a loss. WTF?

You'll get there my friend.

I forgot to mention that Price Action on higher time frames (Daily and Weekly) tend to retrace more often. Also, the general rule of thumb with DBHLC (and DBLHC) is that Price will retrace to the 1st Bar of the two Bar formation. (blue lines)
Thanks for pointing that out Jarroo...
  • #14,313
  • Oct 10, 2008 5:00am Oct 10, 2008 5:00am
Quoting HipsterPipster
Especially with this volatility and speed.
Seconding that too.

Even the ones that don't go on a long run are adding up nicely.

How's the stop sizes though? They're enormous. Most pairs are 4 times their old daily ranges!
Seems like it at least.
Bundy's status today: "Waiting..."
  • #14,314
  • Oct 10, 2008 5:43am Oct 10, 2008 5:43am
Quoting HipsterPipster
And taking advantage of aud's drop with a short on aud/chf, 4 hr.
Beautiful set up man! Pin with the trend and a throwback to resistance from prior swing low. I'm going to have to open my charts to see how many pips you made off that one

Jason
May the fish in your stream of life always bite.
  • #14,315
  • Oct 10, 2008 6:20am Oct 10, 2008 6:20am
Quoting HipsterPipster
Especially with this volatility and speed.
Nice one Hipster.....I'm still hanging in there with you brother....200 pips locked in and still truckin
  • #14,316
  • Oct 10, 2008 12:14pm Oct 10, 2008 12:14pm
Thanks people. Gold tanked, but would not have worked with that hourly signal. I got shaken out of aud/usd at .6646 for a total pip profit of 389. My risk was 141 pips so that is a 2.8:1 R:R. It is all about position size.
AUD/CHF risk was 194 pips and I closed at .7503 for profit 381. 1.96:1 R:R.
  • #14,317
  • Oct 10, 2008 12:52pm Oct 10, 2008 12:52pm
UHH, anyone sell gold today?
Attached Image (click to enlarge)
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  • #14,318
  • Oct 10, 2008 1:00pm Oct 10, 2008 1:00pm
Quoting HipsterPipster
UHH, anyone sell gold today?
I thought gold was the safe haven?! Where's everybody putting there money now? Under the bed?!
  • #14,319
  • Oct 10, 2008 1:06pm Oct 10, 2008 1:06pm
Quoting HipsterPipster
Thanks people. Gold tanked, but would not have worked with that hourly signal. I got shaken out of aud/usd at .6646 for a total pip profit of 389. My risk was 141 pips so that is a 2.8:1 R:R. It is all about position size.
AUD/CHF risk was 194 pips and I closed at .7503 for profit 381. 1.96:1 R:R.


Nice trades HP! I've surprised myself as of late with the gains to my acct. I like being a trader in times like these vs an investor.
  • #14,320
  • Oct 10, 2008 1:07pm Oct 10, 2008 1:07pm
They are storing it up so that they have something to burn this winter. Looks like there will be a good time to buy gold here soon. It could be that a country just sold off some of their reserves to pay off their debt, add to cash flow.
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