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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

  • #16,181
  • Dec 5, 2008 3:00am Dec 5, 2008 3:00am
Quoting Mr Trend
Another fun 15m trade. Mmmm, pips.
At the first glimpse this does seem an easy trade but when i dig deep i find that the Pb stuff is short lived. price didn't even bother touching the lower end of the range.

Your experience allows you to call this fun and i believe you 100% but had i taken this trade, i would have waited for the break and my target would have been the lower end of the range, not hitting it would have meant the hitting of a trail stop maybe? the profit will have shrinked to much less than the entire action.

Can you elaborate a bit on where you entered and when and where you left?
I believe . . .
  • #16,182
  • Dec 5, 2008 3:33am Dec 5, 2008 3:33am
I was looking at this chart going into the CAD employment figures....has some nice looking things happening. A double top, at a ppz, and divergence on MACD. I wonder with the news, if we might get a little PA to make a very sweet trade short??
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  • #16,183
  • Dec 5, 2008 6:30am Dec 5, 2008 6:30am
Quoting tokwanden
I would love too. If I could I surely would. I'm not computer literate. I tried many time. Jarro once did show me how to post a chart on DIBS thread but . the pic just dont shows up.. I give up...

Anyway Jarro, thxs that what I'm talking about.
Hey tokwanden,

You don't have to be a computer engineer to post a chart here, it really is very easy...here let me help you:

1) right click your mt4 chart and choose "save as picture"

2) from the new window that pops up either click "active workspace" (which will save the entire screen along with the window and whatever else you have on your computer screen) or click "active chart as is" which will save only the chart as it is or finally you may click "active chart" which is similar to the second last option but differs only in the sense that you can set your own parameters for the size of the saved image. I choose the "Active chart" and have set the parameters at 700 x 500 pixels. jarroo has it at 600 x 600 (i think)

3) once you have chosen your style of the image which has to be saved you hit "OK" which will lead you the next window titled "Save AS" this window wants you to let the computer know where to save the image. choose a directory you want or more simply just keep hitting the back button which is on the top right hand of the window (in the shape of an inverted arrow) till you can't hit it anymore, this will save the image right at your desktop. finally name the file what you like say e.g "ABC" or anything and then click "save" and you're done with most of the work.

4) now to post it up on the forums all you need to do is to scroll down in the window where you're posting your reply you'll see a clickable tab labeled "manage attachments" hit this and it will open in a new window. now hit the "browse" tab and choose the file from your desktop then hit the "upload" tab. Now just sit back and relax while the file uploads. once done you'll see it as an attachment in the window where you're writing your FF post, complete your post and click "submit".

You're done!

I have tried to break it down into the most simplest of form, do let me know if anything is unclear, I or anybody here will be kind enough to help you out show off your great charting

Regards,
Ghous.
I believe . . .
  • #16,184
  • Dec 5, 2008 6:47am Dec 5, 2008 6:47am
Here is an interesting situation on the GBP/CHF. The 1.78 - 1.79 supp and res flip once broken is now due to provide some effective resistance to the under construction Inside Bar, will see how this will pan out, i'll be looking for any shorts at the break of the low of the IB with the trend

http://i81.photobucket.com/albums/j209/ghous/gc.gif

Regards,
Ghous.
I believe . . .
  • #16,185
  • Edited 7:03am Dec 5, 2008 7:00am | Edited 7:03am
Quoting ghous
Hey tokwanden,

You don't have to be a computer engineer to post a chart here, it really is very easy...here let me help you:

1) right click your mt4 chart and choose "save as picture"

2) from the new window that pops up either click "active workspace" (which will save the entire screen along with the window and whatever else you have on your computer screen) or click "active chart as is" which will save only the chart as it is or finally you may click "active chart" which is similar to the second last option but differs only in the...
Hey Ghous thx. Really appreciate that. Next time I'll tried to post something with a chart(Need to practice. What a post without the chart.)
Go figure.. Simplicity work
  • #16,186
  • Dec 5, 2008 7:21am Dec 5, 2008 7:21am
thanks to you guys i have made a thousand points this week..



only problem is i lost 800

this tells me i am on the right track though, just got to get rid of the poor trades from my selection


sorry had to post this - i was just blown away when i added it up.
so this is now my 3rd consecutive profitable week - i can feel some beers coming my way
  • #16,187
  • Dec 5, 2008 7:28am Dec 5, 2008 7:28am
A perfect example of solid support for price on confluence zones, Eur/Chf weekly chart! For me three levels of support lined up were far more important to consider than the weekly pin bar asking price to go down,

Not to say money could not be made it's just one those uneasy kind of trades i always wish to stay away from. This time the confluence just below the Pb convinced me to stay away, I am glad i didn't have to regret the decision

Saskgui i guess you were one of those who took it, I can bet you would have made the pips

Regards,
Ghous.
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I believe . . .
  • #16,188
  • Dec 5, 2008 7:30am Dec 5, 2008 7:30am
Quoting simoncs
thanks to you guys i have made a thousand points this week..



only problem is i lost 800

this tells me i am on the right track though, just got to get rid of the poor trades from my selection


sorry had to post this - i was just blown away when i added it up.
so this is now my 3rd consecutive profitable week - i can feel some beers coming my way
How many trades resulted in that 1800 pip move in your account?
I believe . . .
  • #16,189
  • Dec 5, 2008 7:33am Dec 5, 2008 7:33am
I am learning to play with pin-bar. I saw pin-bar on daily on G/U and played long against it. My SL was below the eye which got hit as market went down.
Was I wrong in selecting the pin-bar? Do any body sees pin-bar on G/U daily for yesterday?
Please I wan to know the mistake of my trade.... any advise and tip...? I lost 80 pips almost.
  • #16,190
  • Dec 5, 2008 7:40am Dec 5, 2008 7:40am
Quoting ghous
How many trades resulted in that 1800 pip move in your account?

good point - 41 - maybe that's a few too many trades
  • #16,191
  • Dec 5, 2008 7:45am Dec 5, 2008 7:45am
Quoting simoncs
thanks to you guys i have made a thousand points this week..



only problem is i lost 800

this tells me i am on the right track though, just got to get rid of the poor trades from my selection


sorry had to post this - i was just blown away when i added it up.
so this is now my 3rd consecutive profitable week - i can feel some beers coming my way
You know squirrels are amazing animals! Every year before winter they need plenty of nuts and seeds to see through the chilly weather, time is short and whatever they can get their tiny teeth on will do, infact if you ever see a squirrel in the summer chances are it's already busy collecting the nuts. I call these amazing creatures because for an average squirrel it has go through such challenging do or die situations 5 to 6 times in it's life which spans over an average of 6 years, but the amazing part is that most squirrels will never make it to their second year of life...

Consider yourself very lucky, you'll live! You have all the nuts you need, all you need to do is a bit of sorting between the bad, the not so good and the good nuts in your comfortable and cozy little hole as the first snow begins to fall as the unsuccessful squirrels scurry about trying to hide out the cold...

Feel better??
I believe . . .
  • #16,192
  • Dec 5, 2008 8:06am Dec 5, 2008 8:06am
Quoting ghous
You know squirrels are amazing animals! Every year before winter they need plenty of nuts and seeds to see through the chilly weather, time is short and whatever they can get their tiny teeth on will do, infact if you ever see a squirrel in the summer chances are it's already busy collecting the nuts. I call these amazing creatures because for an average squirrel it has go through such challenging do or die situations 5 to 6 times in it's life which spans over an average of 6 years, but the amazing part is that most squirrels will never make it...
yup thanks ghous
maybe i'll have 2 beers now

have a good w/e all
  • #16,193
  • Dec 5, 2008 8:33am Dec 5, 2008 8:33am
Quoting 786 trading
I am learning to play with pin-bar. I saw pin-bar on daily on G/U and played long against it. My SL was below the eye which got hit as market went down.
Was I wrong in selecting the pin-bar? Do any body sees pin-bar on G/U daily for yesterday?
Please I wan to know the mistake of my trade.... any advise and tip...? I lost 80 pips almost.
It's not a pin bar until price moves past the high (or low). So by definition it's not a pinbar yet. I always place a pending order 10-20 pips past the high or low to make sure.
  • #16,194
  • Dec 5, 2008 9:37am Dec 5, 2008 9:37am
Hi,

Trying to search on a lot of pairs, I have came with this interesting formation on USDBRL on the daily chart.
From a theoritical point of view, it looks like it is tradable.

On 1 there was a bullish pin bar that is dying on local highs.
On 2 (today) a bear pin is forming.

I expect it (if confirmed) to go to the zone in light blue, as zones of confluence (PPZ and fibs)...

Can anyone tell me if I am in the right state of mind?

Cheers
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  • #16,195
  • Dec 5, 2008 9:39am Dec 5, 2008 9:39am
My limit order was hit yesterday @ 1.2813. When i was back from work seeing that sl were almost hit i manage to close it at breakeven , plus the up momentum was really stron. I was waiting for this setup all week becouse of very good confluences 50% swing / round number / s/r flip area. I would never enter this trade seeing such strong momentum, but it also shows me how important that level was. It went down about 200 pips now forming beob on h4 before.
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  • #16,196
  • Dec 5, 2008 10:01am Dec 5, 2008 10:01am
Quoting simoncs
good point - 41 - maybe that's a few too many trades
Depends... are you an intraday trader?
Mr. Trend
  • #16,197
  • Dec 5, 2008 10:21am Dec 5, 2008 10:21am
Quoting ghous
A perfect example of solid support for price on confluence zones, Eur/Chf weekly chart! For me three levels of support lined up were far more important to consider than the weekly pin bar asking price to go down,

Not to say money could not be made it's just one those uneasy kind of trades i...
Actually i am embarrassed to admit that i made no pips. My TP was at 1.5150 and the lowest my broker went to was 1.5161. I am not at home right now but as i recall it was a BE trade. Well.... exits are the most challenging part of trading...
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  • #16,198
  • Dec 5, 2008 10:43am Dec 5, 2008 10:43am
My only PA trades so far are PB's, BUOVB and BEOVB's at areas of s/r however i was tempted to just put in a limit sell at 1.30 yesterday, i did not since i can't trade to make pips but only follow my system....

Maybe i should start another demo and just trade touches like it seems to me rac does on key ppz areas.

Well no PA no trade yet...
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  • #16,199
  • Dec 5, 2008 11:11am Dec 5, 2008 11:11am
Quoting willf
It's not a pin bar until price moves past the high (or low). So by definition it's not a pinbar yet. I always place a pending order 10-20 pips past the high or low to make sure.
Ohh you mean if I want to enter this then i should wait to go to price higher then Pin bar?

I am just trying to fully understand the concept of pin-bar and want to trade it successfully.
Appreciate your help.
  • #16,200
  • Dec 5, 2008 11:16am Dec 5, 2008 11:16am
Quoting 786 trading
Ohh you mean if I want to enter this then i should wait to go to price higher then Pin bar?

I am just trying to fully understand the concept of pin-bar and want to trade it successfully.
Appreciate your help.

yep the conservative way is to wait for the high/low to break. A pinbar is only valid when this happens. If you play it on the close or retrace you run the risk of it never breaking(making it a more aggressive play). Neither is better both have advantages and disadvantages. I always wait for a break personally.

Best
Mike
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