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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

  • #15,801
  • Nov 26, 2008 10:34am Nov 26, 2008 10:34am
Quoting raczekfx
eu (alert areas)
.

  • #15,802
  • Nov 26, 2008 11:23am Nov 26, 2008 11:23am
ohh ok. so that trade was based on resistance and divergence... the pin bar was just an added bonus?

Quoting rustyjeff
Have a look at the respect shown to the 148.00 area..
and the divergence of rsi from the last high to the most recent high.
  • #15,803
  • Nov 26, 2008 11:32am Nov 26, 2008 11:32am
ohh wow. theres a gold mind in there!

Quoting raczekfx
That's a spot where I sold g/j. At the same time, I sold e/u and g/u. I dedicated my time to PF yesterday, hence no posting here.
  • #15,804
  • Nov 26, 2008 11:44am Nov 26, 2008 11:44am
Quoting jameson83
ohh wow. theres a gold mind in there!
glad you like it
  • #15,805
  • Nov 26, 2008 11:46am Nov 26, 2008 11:46am
I actually pulled the buy button sooner.. at 5190 and 2830

Quoting raczekfx
eu (alert areas)
.
posted live in the PF
Quoting raczekfx

bought cable 1.5190 and fiber 1.2830
  • #15,806
  • Nov 26, 2008 11:48am Nov 26, 2008 11:48am
Quoting raczekfx
I actually pulled the buy button sooner.. at 5190 and 2830

here's why..
.
p.s. before you ask. this is not based on PA
Attached Images
  • #15,807
  • Nov 26, 2008 11:54am Nov 26, 2008 11:54am
Quoting raczekfx
here's why..
.
p.s. before you ask. this is not based on PA
I would really like to know what it is based on Rac If i am not asking too much on a public forum sine obviously there was no PA to confirm the bounce of the s/r flip i am curious what gets you in this trade.
I believe . . .
  • #15,808
  • Nov 26, 2008 12:55pm Nov 26, 2008 12:55pm
Quoting ghous
I would really like to know what it is based on Rac If i am not asking too much on a public forum sine obviously there was no PA to confirm the bounce of the s/r flip i am curious what gets you in this trade.
sure ghous. It's based on simple support/resistance trading and some info from a great book. Check out 'favorite trading book' in my profile...

it's really great, once you practice, practice and practice it for a while..
  • #15,809
  • Nov 26, 2008 12:59pm Nov 26, 2008 12:59pm
Quoting ghous
I would really like to know what it is based on Rac If i am not asking too much on a public forum sine obviously there was no PA to confirm the bounce of the s/r flip i am curious what gets you in this trade.
Mark has his own methods but heres mine. If you find an area (daily,4hr,1hr.) that you might expect some reaction. Thats the time I go to lower tf's & look for signs.....
Weather its a pure pattern or an obvious change in sentiment.
the first 5m was taken about 1.5 hr ago. the last one 10 mins ago.
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  • #15,810
  • Nov 26, 2008 1:46pm Nov 26, 2008 1:46pm
Quoting fjaragon
Hi guys,

I saw these pinbars last night on the EU and GU, but didn´t take them, thought there wasn´t too much room to the downside.
What do you think about them, are they a valid pinbar signal?

thanks for your comments,

Francisco

The EU was not valid in my book. The nose length has to totally surpass all previous bars (candles). GU is valid, but I would like to see a longer nose. Not bad.

I'm not sure if your looking at the formation itself because you did not show any other reasons that these PBs may be tradable.

The validity of a Pin Bar has many components: Location (at a Swing High/Low), S/R levels (PPZs), Fib retracements, Trendlines, with the trend, etc. It is these confluences that make up a high probability PB.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #15,811
  • Nov 26, 2008 1:48pm Nov 26, 2008 1:48pm
any interest in this one
off s/r and two sets of fib on the 4hr
against the main trend or part of a new trend on the daily??
if do take this will be looking to get stop to be quickly just incase.
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  • #15,812
  • Nov 26, 2008 2:00pm Nov 26, 2008 2:00pm
Quoting jarroo
The EU was not valid in my book. The nose length has to totally surpass all previous bars (candles). GU is valid, but I would like to see a longer nose. Not bad.

I'm not sure if your looking at the formation itself because you did not show any other reasons that these PBs may be tradable.

The validity of a Pin Bar has many components: Location (at a Swing High/Low), S/R levels (PPZs), Fib retracements, Trendlines, with the trend, etc. It is these confluences that make up a high probability PB.
Jarroo,

Thanks for your answer, I definitively have to study more and start taking into account many of these components. Thanks again!

Francisco
  • #15,813
  • Nov 26, 2008 2:03pm Nov 26, 2008 2:03pm
Quoting sonicdeejay
understand that daily is down..
So..u only looks for the Short trade on UJ H4???
Do u have any loss trade so far?

Sonic
Yes. Trading with the overall trend and looking for Price Action with that trend (with supporting confluences, of course) is not a bad way to go.

I haven't had many losses on my Price Action account lately. Probably because my frequence of trades are not as many as it use to be. Looking for more ideal PA set-ups and taking nothing less helps.

My DIBS account is another matter when it comes to losses.
Indicators show the past. Price Action "Indicates" the future.
  • #15,814
  • Nov 26, 2008 2:11pm Nov 26, 2008 2:11pm
Quoting simoncs
any interest in this one
off s/r and two sets of fib on the 4hr
against the main trend or part of a new trend on the daily??
if do take this will be looking to get stop to be quickly just incase.
Not a lot of space before it, but it is a pretty looking pin off of support.
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  • #15,815
  • Nov 26, 2008 4:07pm Nov 26, 2008 4:07pm
Not a bad day today. Trend was down so it was shorts today. I was busy working on some 3min stuff.

Have a great T-Day!
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Keep taking CT trades, I need more money
  • #15,816
  • Nov 26, 2008 4:15pm Nov 26, 2008 4:15pm
Quoting Ryanmcd
Not a bad day today. Trend was down so it was shorts today. I was busy working on some 3min stuff.

Have a great T-Day!

You missed one..
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  • #15,817
  • Nov 26, 2008 4:16pm Nov 26, 2008 4:16pm
Good job man.I I was not at home(my fault) so I take only 3rd "your" pinbar, and B/E.
+15 low, then flip and b/e. Loss for some traders, B/E for somebody (like me) , win for you , I'm still working - to be winner with you
:-)

Quoting Ryanmcd
Not a bad day today. Trend was down so it was shorts today. I was busy working on some 3min stuff.

Have a great T-Day!
  • #15,818
  • Nov 26, 2008 4:23pm Nov 26, 2008 4:23pm
Quoting libertao
Not a lot of space before it, but it is a pretty looking pin off of support.
I thought about this one also.....counter trend so decided against it. The fiber is trading in a box at the moment and I'd be more inclined to take trades confirmed by PA from the outer extremities of that box.
  • #15,819
  • Nov 26, 2008 4:40pm Nov 26, 2008 4:40pm
Quoting rustyjeff
You missed one..
Yep lots of them show up, I am working with a group of people getting ezlang setup so I can "Have a life" and let it trade for me. Yes this can be programmed
Keep taking CT trades, I need more money
  • #15,820
  • Nov 26, 2008 4:51pm Nov 26, 2008 4:51pm
Quoting Ryanmcd
Yep lots of them show up, I am working with a group of people getting ezlang setup so I can "Have a life" and let it trade for me. Yes this can be programmed
including mm...
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