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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

  • #14,861
  • Oct 31, 2008 2:39am Oct 31, 2008 2:39am
Quoting mbqb11
to continue a bit with round numbers. Watch USD/JPY if we reach the 100 level. Right before we got there we had HUGE sell orders come in at 99.70ish. Look at the huge bearish bar that was created even with price exploding higher. You know you had big sellers(I am not talkinga bout you and me), to sell in right ahead of that number. There could be barrier option they were protecting or various other reasons. Now because we know 100 is a very psychological number, next time around we can expect. This area again to be protected, or I can nearly guarantee we have heavy orderflow in the way of stops located above this number. If you watch price on a much smaller scale when it goes through this number...
Rambling? Are you kidding me?

If it wasn't for your "ramblings" I would probably quit this bussiness years ago. I call them Gems of info.

Ramble away my friend, as often as you like.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #14,862
  • Oct 31, 2008 2:47am Oct 31, 2008 2:47am
Here we go...WOOHOOO!

Quote
How we looking on the Euro Daily PB?

PA RULES!
Ditto that Jarroo! Ejoy the ride.

And once more Jim, Mike, SL, Jarroo, Bundy and many others thanks a Gazillion for changing our lives for ever!!!!!!!!
I believe . . .
  • #14,863
  • Oct 31, 2008 3:24am Oct 31, 2008 3:24am
Quoting ghous
Here we go...WOOHOOO!

Ditto that Jarroo! Ejoy the ride.

And once more Jim, Mike, SL, Jarroo, Bundy and many others thanks a Gazillion for changing our lives for ever!!!!!!!!
Yes, its true that Jim and others have provide us some great information on this method of trading. They provide wisdom, knowledge and support like no other in this business.

But remember it is You that has to put the time in that is necessary. It's You that does the due diligence required. It's You that makes it happen.

So don't forget to add "You" to the list.



Jim
Indicators show the past. Price Action "Indicates" the future.
  • #14,864
  • Oct 31, 2008 3:29am Oct 31, 2008 3:29am
This looks like 'A Trade' PB's on most pairs today, My question is: What is the correct way to enter this trade?
1. Enter on the open of next bar (daily TF)
2. Enter on the retracement 38/50/62 and PPz (or confluence) on the next (daily TF)
3. Are just find ways to make entry in other shorter TF's

**Just to refresh the knowledge==> What would most people do and what will profitable traders do?
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  • #14,865
  • Oct 31, 2008 3:44am Oct 31, 2008 3:44am
Quoting Almfx
This looks like 'A Trade' PB's on most pairs today, My question is: What is the correct way to enter this trade?
1. Enter on the open of next bar (daily TF)
2. Enter on the retracement 38/50/62 and PPz (or confluence) on the next (daily TF)
3. Are just find ways to make entry in other shorter TF's

**Just to refresh the knowledge==> What would most people do and what will profitable traders do?
Short answer:

The best way to enter (imo) is on the break of the Pin Bar. Actually, it is not considered a true PB until there is a break. When there is a break, more often then not, there will be retracement especially on higher time frames. Then you can look for fib retracements, S/R levels, lower time frame PA, etc. for a better entry.
Indicators show the past. Price Action "Indicates" the future.
  • #14,866
  • Oct 31, 2008 3:45am Oct 31, 2008 3:45am
Quoting jarroo
Yes, its true that Jim and others have provide us some great information on this method of trading. They provide wisdom, knowledge and support like no other in this business.

But remember it is You that has to put the time in that is necessary. It's You that does the due diligence required. It's You that makes it happen.

So don't forget to add \"You\" to the list.



Jim
  • #14,867
  • Oct 31, 2008 4:41am Oct 31, 2008 4:41am
Quoting jarroo
Short answer:

The best way to enter (imo) is on the break of the Pin Bar. Actually, it is not considered a true PB until there is a break. When there is a break, more often then not, there will be retracement especially on higher time frames. Then you can look for fib retracements, S/R levels, lower time frame PA, etc. for a better entry.
Hello Jarroo, Thanks for your answer. I always knew I must be missing something about the PB's. From my picture, please point out to me, which is the breakout line 1 or 2 ?

ALM

Attached Image
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  • #14,868
  • Oct 31, 2008 4:59am Oct 31, 2008 4:59am
[quote=Almfx;2317916]Hello Jarroo, Thanks for your answer. I always knew I must be missing something about the PB's. From my picture, please point out to me, which is the breakout line 1 or 2 ?

ALM

or, it's the Low of the 3rd bar (of PB) ?
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  • #14,869
  • Oct 31, 2008 5:01am Oct 31, 2008 5:01am
Quoting Ash
Hello BWR and welcome. The two individuals who have changed my way of trading forever is Yourself and James. No more clutter on my charts just basic Fib's and EMA's.

May everyone be rewarded for their good deeds in taking the time out to teach others. Amen!


Why thank you Ash, I am humbled.
Just Trade It
  • #14,870
  • Oct 31, 2008 5:53am Oct 31, 2008 5:53am
Quoting jarroo
How we looking on the Euro Daily PB?

PA RULES!
Hear hear!

LOL.... This is contradictory, but I'm seeing long set ups all the time today when I check back. One of my favourite set ups popped up earlier, so I've closed out my short. ....I'm happy , but would be nice to have a keeper for once. ...oh well.
Bundy's status today: "Waiting..."
  • #14,871
  • Oct 31, 2008 5:58am Oct 31, 2008 5:58am
Quoting Almfx
Hello Jarroo, Thanks for your answer. I always knew I must be missing something about the PB's. From my picture, please point out to me, which is the breakout line 1 or 2 ?

ALM

Attachment
Hey ALM The breakout point would be the low of the actual pinbar itself which would be Point 1 on your chart. But always use a little "buffer". So you would want to put it a bit lower then the low(depending on the timeframe).

Take care

Mike
  • #14,872
  • Oct 31, 2008 6:07am Oct 31, 2008 6:07am
Quoting Almfx
Hello Jarroo, Thanks for your answer. I always knew I must be missing something about the PB's. From my picture, please point out to me, which is the breakout line 1 or 2 ?

ALM

Attachment
Hi Almfx,

! is the break we are talking abt here, however your entry has to be below the break in case of a bearish pin, the immediate break may not be the best price you want to get in, on the daily tf for isntance look for 10-15 pip breaks of the Pb (or for that matter any PA like IBs amd OBs), this is considered the best possible and the safest possible means of trading a pin bar. there ofcaorse are other ways some which are really aggressive and require an experienced eye ball to extract some additional profit.

Best of luck with your trading

Regards,
Ghous.
I believe . . .
  • #14,873
  • Oct 31, 2008 6:10am Oct 31, 2008 6:10am
Quoting ghous
Hi Almfx,

! is the break we are talking abt here, however your entry has to be below the break in case of a bearish pin, the immediate break may not be the best price you want to get in, on the daily tf for isntance look for 10-15 pip breaks of the Pb (or for that matter any PA like IBs amd OBs), this is considered the best possible and the safest possible means of trading a pin bar. there ofcaorse are other ways some which are really aggressive and require an experienced eye ball to extract some additional profit.

Best of luck with your trading

Regards,
Ghous.


i think what everyone is trying to tell u is to put a sell stop 10 pips under the low of the PB (bearish)

a buy stop 10pips above the high of the PB(Bullish)
  • #14,874
  • Oct 31, 2008 6:12am Oct 31, 2008 6:12am
I would like to ask abt a safe strategy to reduce the risk invloved in a trade. I generally like to move my stop (that is trading of the daily) atleast to a breakeven as soon as i hit thrre figure pips, is that a good strategy? i ask because for some reason i don't like the idea of having to leave the market with nothing atall while experiencing the excitment of a three figure pip trade. Now for example take the current market situation. The pairs seem to be retracing slightly, my stops on each of the 4 trades i have taken (chf/jpy, eur/jpy, eur/usd, gbp/usd) are at breakeven, now if i get stopped out i'll feel really bad.

So do i need to feel bad atall?
I believe . . .
  • #14,875
  • Oct 31, 2008 6:13am Oct 31, 2008 6:13am
Quoting ezz
i think what everyone is trying to tell u is to put a sell stop 10 pips under the low of the PB (bearish)

a buy stop 10pips above the high of the PB(Bullish)
Well summarized

Thnx dude!

Regards,
Ghous.
I believe . . .
  • #14,876
  • Oct 31, 2008 6:15am Oct 31, 2008 6:15am
Quoting bundyraider
Hear hear!

LOL.... This is contradictory, but I'm seeing long set ups all the time today when I check back. One of my favourite set ups popped up earlier, so I've closed out my short. ....I'm happy , but would be nice to have a keeper for once. ...oh well.
LOL! would be interesting to hear upon your beefy views Bundy
I believe . . .
  • #14,877
  • Edited 7:04am Oct 31, 2008 6:26am | Edited 7:04am
Quoting ghous
I would like to ask abt a safe strategy to reduce the risk invloved in a trade. I generally like to move my stop (that is trading of the daily) atleast to a breakeven as soon as i hit thrre figure pips, is that a good strategy? i ask because for some reason i don't like the idea of having to leave the market with nothing atall while experiencing the excitment of a three figure pip trade. Now for example take the current market situation. The pairs seem to be retracing slightly, my stops on each of the 4 trades i have taken (chf/jpy, eur/jpy, eur/usd, gbp/usd) are at breakeven, now if i get stopped out i'll feel really bad.

So do i need to feel bad atall?
Thanks for your prompt answers Mike, Ghous and ezz

The the Low of the PB was 1.2805
The Current Price is 1.2795 (The price, you all were suggesting an entry)

But actually, What want to know is the timing? whether we have to enter now or wait for the next bar on the Daily TF (that is on Mon.)

ALM
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #14,878
  • Oct 31, 2008 6:43am Oct 31, 2008 6:43am
Hi Guys,

Anyone holding on to the Eu/Us daily pin? Played it on the break and it seems to be bobbing about a bit. Anyone got a TP in mind?

Also any of you guys know a broker who allows you to put in trailing stops? Getting a lot of my trades into profit but they then retrace during periods when I cant check the charts!! Any comments\advice welcome.

Best wishes all,

Bertie
PA is where its at!!
  • #14,879
  • Edited 8:28am Oct 31, 2008 6:52am | Edited 8:28am
Quoting ghous
I would like to ask abt a safe strategy to reduce the risk invloved in a trade. I generally like to move my stop (that is trading of the daily) atleast to a breakeven as soon as i hit thrre figure pips, is that a good strategy? i ask because for some reason i don't like the idea of having to leave the market with nothing atall while experiencing the excitment of a three figure pip trade. Now for example take the current market situation. The pairs seem to be retracing slightly, my stops on each of the 4 trades i have taken (chf/jpy, eur/jpy, eur/usd, gbp/usd) are at breakeven, now if i get stopped out i'll feel really bad.

So do i need to feel bad atall?
Do not feel bad about a break even trade. I would feel bad if I didn't take some of the three figure pip gain off the table.
Take this Euro trade for example.

I hit my target at the 1.2700 level (three figure pip ) and moved to break even. I always give my trades a chance to run.

Edit: My entry was the break of the 4 hour Inside Bar.
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #14,880
  • Oct 31, 2008 7:55am Oct 31, 2008 7:55am
Quoting Almfx
Thanks for your prompt answers Mike, Ghous and ezz

The the Low of the PB was 1.2805
The Current Price is 1.2795 (The price, you all were suggesting an entry)

But actually, What want to know is the timing? whether we have to enter now or wait for the next bar on the Daily TF (that is on Mon.)

ALM
Immediate Alm. (Have a bit of a buffer though)

It takes experience to know what buffers to use (How far past a break to actually enter.) . You'll get a handle on that over time (...I'm still improving myself. lol), but you can place an order at that trigger level and walk away. Don't have to wait till it closes.

There are instances where you may want the following bar to close and be complimentary a low quality signal, but the general answer to your question is 'immediately'.
Bundy's status today: "Waiting..."
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