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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

  • #14,701
  • Oct 24, 2008 9:10am Oct 24, 2008 9:10am
I saw many pinbars, on my broker, there was great setup almost every JPY pair like EJ,GJ,Audjpy,Chfjpy, great pin with divergence a they all failed by 1000-2000 pips (!!!) over night, it's crazy market conditions now, even look at m15 bars, 40-100 pips, it's crazy guys. I stay away. US situation etc ownz everything now.
  • #14,702
  • Oct 24, 2008 10:42am Oct 24, 2008 10:42am
I'm sure plenty of people jumped in on some of these pins as they were tempting. The problem is that the market is a little crazy right now, and the trend we're in is beyond strong.

The other thing is that some of the pins didn't have good size. The JPY pairs, GBPUS etc. the pins were a little small IMO.
If you compare them to the previous bar(s) that would usually be a warning sign for me.

It's probably best to let the market settle down and wait until it shows us where it's heading. Cuz at the moment it's just down.

Tom
  • #14,703
  • Oct 24, 2008 11:12am Oct 24, 2008 11:12am
well yesterdays gold pin never broke the high = no trade.

We may get a second chance today. This closes as a BUOB or a pin and I will place another pending long. Really such a perfect area we are at.



Mike
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  • #14,704
  • Oct 24, 2008 2:20pm Oct 24, 2008 2:20pm
8 Hour Pin Bar looks interesting. But for me, it'll have to wait until next week.
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Indicators show the past. Price Action "Indicates" the future.
  • #14,705
  • Oct 24, 2008 2:35pm Oct 24, 2008 2:35pm
Quoting jarroo
8 Hour Pin Bar looks interesting. But for me, it'll have to wait until next week.
cant get my eyes of this one very nice area,touches the monthly Tl, 50% fibo lvl

but the Sl will be huge
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  • #14,706
  • Oct 24, 2008 2:38pm Oct 24, 2008 2:38pm
Thats one pretty pin bar right there. Will be interesting to see how it develops.

Quoting jarroo
8 Hour Pin Bar looks interesting. But for me, it'll have to wait until next week.
  • #14,707
  • Oct 24, 2008 3:16pm Oct 24, 2008 3:16pm
These crazy moves have the story behind them, so to me, until the story begins to change or gives hints of a change, it's only the setups in the direction of the current trends and nothing against it, no matter how good it looks. I never thanked God so sincerely as this morning for not letting me enter any of the setups yesterday, after seeing couple of thousand pips falls, never seen anything like this before.
Trax Tibidax Tibidox...
  • #14,708
  • Oct 24, 2008 3:46pm Oct 24, 2008 3:46pm
Quoting masterpiecefx
These crazy moves have the story behind them, so to me, until the story begins to change or gives hints of a change, it's only the setups in the direction of the current trends and nothing against it, no matter how good it looks. I never thanked God so sincerely as this morning for not letting me enter any of the setups yesterday, after seeing couple of thousand pips falls, never seen anything like this before.
i feel the same way ..absolutely account blowing stuff, cant even think of going against the trend
  • #14,709
  • Oct 24, 2008 4:44pm Oct 24, 2008 4:44pm
A nice trade I took today.
the 5m showed reversing pa in the direction of the trend.
The 60m shows the breakout of previous support & a 50% retrace to test it as resistance.
risk was 20 pips. reward was 113. before closing for the weekend.
I dont post often because i use small tf's but i think this shows that its still pa & support/resistance.
its just what works for me. have a good weekend all
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  • #14,710
  • Oct 24, 2008 10:18pm Oct 24, 2008 10:18pm
I have nice catch in EUR/JPY Long too...
(Posted in Sonic R for analysis)
  • #14,711
  • Oct 25, 2008 7:08am Oct 25, 2008 7:08am
Quoting masterpiecefx
These crazy moves have the story behind them, so to me, until the story begins to change or gives hints of a change, it's only the setups in the direction of the current trends and nothing against it, no matter how good it looks. I never thanked God so sincerely as this morning for not letting me enter any of the setups yesterday, after seeing couple of thousand pips falls, never seen anything like this before.
Ditto that
I believe . . .
  • #14,712
  • Oct 25, 2008 7:11am Oct 25, 2008 7:11am
Quoting jarroo
8 Hour Pin Bar looks interesting. But for me, it'll have to wait until next week.
Those pins were extremely good looking Jarroo even on the 4H chart, i can see they even worked out but i am not willing to go against any of these trends.
I believe . . .
  • #14,713
  • Oct 25, 2008 7:29am Oct 25, 2008 7:29am
It looks sweet

Quoting ezz
cant get my eyes of this one very nice area,touches the monthly Tl, 50% fibo lvl

but the Sl will be huge
Money & Pain Respect the market, protect your capital, be patient
  • #14,714
  • Oct 25, 2008 7:44am Oct 25, 2008 7:44am
Hi ya Mike
Really liking the watching waiting type heads up posts.

Tone


Quoting mbqb11
well yesterdays gold pin never broke the high = no trade.

We may get a second chance today. This closes as a BUOB or a pin and I will place another pending long. Really such a perfect area we are at.



Mike
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #14,715
  • Oct 25, 2008 8:40am Oct 25, 2008 8:40am
Quoting masterpiecefx
These crazy moves have the story behind them, so to me, until the story begins to change or gives hints of a change, it's only the setups in the direction of the current trends and nothing against it, no matter how good it looks. I never thanked God so sincerely as this morning for not letting me enter any of the setups yesterday, after seeing couple of thousand pips falls, never seen anything like this before.
agree with u on that...but depend on what TF u r looking at,,,
me based on 15MTF...and I guess u knw what I mean...

The overall trend for EUR and GBP pairs are still down...On D1TF based trade, I have my EJ pair short since 154.xxx .. 119.xxx now..


Sonic
  • #14,716
  • Oct 25, 2008 11:14am Oct 25, 2008 11:14am
There are a few pin set ups on dailies, cable & geppy look good, well sized pin, good positions. I'm not calling a bottom but price action might be signalling a big rally off these lows before more down.
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Money & Pain Respect the market, protect your capital, be patient
  • #14,717
  • Oct 25, 2008 11:30am Oct 25, 2008 11:30am
Quoting toyboy tramp
There are a few pin set ups on dailies, cable & geppy look good, well sized pin, good positions. I'm not calling a bottom but price action might be signalling a big rally off these lows before more down.
Actually, those are not Pin Bars on the Daily cable and geppy. The Open and Close are not within the previous Bar.

The 4 hour on the geppy shows a more ideal Pin Bar.
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Indicators show the past. Price Action "Indicates" the future.
  • #14,718
  • Oct 25, 2008 11:34am Oct 25, 2008 11:34am
Quoting jarroo
Actually, those are not Pin Bars on the Daily cable and geppy. The Open and Close are not within the previous Bar.

The 4 hour on the geppy shows a more ideal Pin Bar.
Thanks for correcting me Jarroo, I had no idea bar open/close had to be inside the previous bar.
Money & Pain Respect the market, protect your capital, be patient
  • #14,719
  • Oct 25, 2008 11:43am Oct 25, 2008 11:43am
Quoting toyboy tramp
Thanks for correcting me Jarroo, I had no idea bar open/close had to be inside the previous bar.
Here's some info on Pin Bars.
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File Type: pdf Pin bars-introduction.pdf   175 KB | 1,188 downloads
File Type: pdf Pin bars-advanced.pdf   113 KB | 1,128 downloads
Indicators show the past. Price Action "Indicates" the future.
  • #14,720
  • Oct 25, 2008 1:48pm Oct 25, 2008 1:48pm
Hello Everyone, Hello Jim

I got a hint from NaVin in the GBP/USD Forum to go here, if I really want to learn how to become successful in trading.
Because this is my aim, I went here immediately and started reading and printing the charts from the beginning...so regards getting through this thread, I still have quite some way to go...
But I setup my view on Forums to newest page first and so I just read about your idea of teaching, etc...
I am surely interested. I have been demo-and live trading since April, so I am still a Newbie, but learned somethings already, as we all do every day
But I havenīt setup trades manually yet because I donīt feel confident enough to do so. I read a lot here at FF regarding strategies, robots, etc., copied some settings and watch, how they would have worked probably .

At some point I want to live on trading only and therefore I need of course to learn how to be successful....so help is always welcome

Thank you VERY much for putting in all the time and effort to teach others what you have learned through all the yrs until you could live on trading. You are really unselfish and kind and I hope to be able to contribute helpful comments, too.

Thx
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