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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

  • #16,541
  • Dec 9, 2008 2:18pm Dec 9, 2008 2:18pm
Quoting ajchi
Hi all,

very nice PB on GBPAUD with closed profit about 200 pips, see PB in red circle.
This is a good example of the market indicating a short bias via pa, but as taught in this thread the bar is not a pinbar, as the open and close are not in the price range of the prior bar. You could call it a pinbar by proxy. Some would still trade this as the market tipped its hand, others would not include this in their trading rules. Glad it worked for you.
  • #16,542
  • Dec 9, 2008 2:24pm Dec 9, 2008 2:24pm
Quoting HipsterPipster
This is a good example of the market indicating a short bias via pa, but as taught in this thread the bar is not a pinbar, as the open and close are not in the price range of the prior bar. You could call it a pinbar by proxy. Some would still trade this as the market tipped its hand, others would not include this in their trading rules. Glad it worked for you.
Hi Hipster,

if you check 4H timeframe, you'll see valid PB with nose touching strong resistance level...
  • #16,543
  • Dec 9, 2008 2:28pm Dec 9, 2008 2:28pm
Quoting ajchi
Hi Hipster,

if you check 4H timeframe, you'll see valid PB with nose touching strong resistance level...
Yeah, I would call that a nice 4hr pinbar. I am not trying to discredit your trade as it was a good read of the market, just looking at the details. Maybe I am mistaken and the hour bar opened and closed within the prior bar?
  • #16,544
  • Dec 9, 2008 2:35pm Dec 9, 2008 2:35pm
Quoting HipsterPipster
Yeah, I would call that a nice 4hr pinbar. I am not trying to discredit your trade as it was a good read of the market, just looking at the details. Maybe I am mistaken and the hour bar opened and closed within the prior bar?
You called it right in the first reply, it was proxy... :-)
  • #16,545
  • Dec 9, 2008 2:38pm Dec 9, 2008 2:38pm
plz,james16,i want you to give me the systems that you are trading with,because i am new to forex trading be.best regard.
  • #16,546
  • Dec 9, 2008 2:38pm Dec 9, 2008 2:38pm
Quoting ajchi
You called it right in the first reply, it was proxy... :-)
Well done AJ, and I am glad to see you posting your trades.
  • #16,547
  • Dec 9, 2008 2:52pm Dec 9, 2008 2:52pm
Quoting leadway
plz,james16,i want you to give me the systems that you are trading with,because i am new to forex trading be.best regard.

Hi Leadway,

he already gave it to you, to all of us. Read twice this whole thread and than you'll understand.

Regards, Ajchi
  • #16,548
  • Dec 9, 2008 2:53pm Dec 9, 2008 2:53pm
Quoting leadway
plz,james16,i want you to give me the systems that you are trading with,because i am new to forex trading be.best regard.
Welcome aboard Leadway,

I'd start reading this thread from page 1 and work your way through....pretty daunting I know but worth every second.

All the best

Dave
  • #16,549
  • Dec 9, 2008 3:51pm Dec 9, 2008 3:51pm
Anybody playing GBP/CHF (daily)?
  • #16,550
  • Dec 9, 2008 4:12pm Dec 9, 2008 4:12pm
Quoting Interceptor
Anybody playing GBP/CHF (daily)?

I have a short that just executed at 1.7786 (the break of the PB). My daily chart shows a PB printed yesterday off a PPZ and 38.2 fib.
  • #16,551
  • Dec 9, 2008 4:32pm Dec 9, 2008 4:32pm
I'm short @ 1.7784.
  • #16,552
  • Dec 9, 2008 4:58pm Dec 9, 2008 4:58pm
interesting pinbar on the EUR/CHF Daily, bouncing off the 150 EMA and 38.2 Fib lots of S/R areas that leave some doubt in my mind, but it should break and give an opportunity for some pips.
  • #16,553
  • Dec 9, 2008 5:24pm Dec 9, 2008 5:24pm
Quoting Icehocey77
interesting pinbar on the EUR/CHF Daily, bouncing off the 150 EMA and 38.2 Fib lots of S/R areas that leave some doubt in my mind, but it should break and give an opportunity for some pips.
I don't want to knock you here. To me it's just one of those trades that aren't worth taking.

I think your right, but really, ignoring "should get a few pips" trades can make a big difference to your end result. Try it for a couple of months.

Would be better if the top of that pin was up against that fib confluence rather than where it is.
Attached Image
Bundy's status today: "Waiting..."
  • #16,554
  • Dec 9, 2008 6:08pm Dec 9, 2008 6:08pm
Quoting bundyraider
I don't want to knock you here. To me it's just one of those trades that aren't worth taking.

I think your right, but really, ignoring "should get a few pips" trades can make a big difference to your end result. Try it for a couple of months.

Would be better if the top of that pin was up against that fib confluence rather than where it is.
Hello Bundy,
I have a quick question for you.Do you think there is a big difference between that PB's nose hitting that fib level and retreating or if it decides to just close around this fib level.I guess I could see some difference in it.......How do you percieve it?
  • #16,555
  • Dec 9, 2008 6:15pm Dec 9, 2008 6:15pm
Daily pin on aud/cad, on top of the former range which is a solid daily support and confluence with 50 fib.
Attached Image (click to enlarge)
Click to Enlarge Name: audcadd1.gif Size: 14 KB
  • #16,556
  • Dec 9, 2008 6:20pm Dec 9, 2008 6:20pm
I agree Bundy.....there is some nice confluence there but the pin bar itself is fairly weak.....short nose, the size of the bar doesn't really hold much weight compared to the surrounding bars and it doesn't have much 'headroom' and could run into resistance around the 1.5530-1.5500 area.
  • #16,557
  • Dec 9, 2008 6:22pm Dec 9, 2008 6:22pm
Quoting boomswitch
Daily pin on aud/cad, on top of the former range which is a solid daily support and confluence with 50 fib.
Heya Boomswitch,

If it was me....I'd be wanting to see that pin bar at a swing low rather than a swing high.
  • #16,558
  • Dec 9, 2008 6:29pm Dec 9, 2008 6:29pm
Quoting boomswitch
Daily pin on aud/cad, on top of the former range which is a solid daily support and confluence with 50 fib.
  • #16,559
  • Dec 9, 2008 6:39pm Dec 9, 2008 6:39pm
Quoting Interceptor
I'm short @ 1.7784.
Could you please show a chart and reasons behind your short @1.7784. This is after all the James16 Chart Thread.

A blank statement of "I'm short @. . ." tells us nothing.

With respect,

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #16,560
  • Dec 9, 2008 6:46pm Dec 9, 2008 6:46pm
Quoting jlmac27
Is it my bad english or is it my bad trading ?
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