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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

  • #17,221
  • Dec 18, 2008 8:43pm Dec 18, 2008 8:43pm
DBLHC INVARIABLY is the same as a formation that is both tweezer bottom and bullish/bearish engulfing bar and according to steve nison, they are powerful.

thanks for your explanation
  • #17,222
  • Dec 18, 2008 8:47pm Dec 18, 2008 8:47pm
Quoting arcus
Hi Mike,

I think I need examples for the DBHLC. And how the DBHLC and BUOB affect the PA?

Thanks!

Edit:
No need for that, since you already post the chart. Thanks a lot!

You will find more answers to your questions as you read the thread from the beginning. Which you are doing, right arcus?
Indicators show the past. Price Action "Indicates" the future.
  • #17,223
  • Dec 18, 2008 8:50pm Dec 18, 2008 8:50pm
Quoting jarroo
You will find more answers to your questions as you read the thread from the beginning. Which you are doing, right arcus?
Yeah, been doing it since last week. Still tons to go LOL I've also checked the free material on the James16 official website. Great stuff. I'm kinda interested in knowing more about PA. Might be very useful in filtering my trades, which is what I'm doing right now. Thanks.
  • #17,224
  • Dec 18, 2008 9:33pm Dec 18, 2008 9:33pm
Quoting mbqb11
Hey Joe,

I am not really liking the look of USD/jpy. Yes we are due for a bounce, but that bar just isn't good enough for me. On my feed it is close to a DBLHC but not quite. We are coming into a lot of resistance and a strong trendline. I would rather wait to see us break the trendline form some kind of support and then play a bounce from there.

Just my thoughts though as always
Mike
thanks Mike I really appreciate you taking the time to explain.... its kind of what I was thinking, at least coming into the resistance, that always bothers me. The way you've worded it is gold for me as now I know to wait for break of the resistance then for resistance to become support....just got to temper this feeling that I'm gonna miss out on the move if I don't take it on the first break !

Regards,

Joe
  • #17,225
  • Dec 18, 2008 9:37pm Dec 18, 2008 9:37pm
Quoting DutchTrader
Am I correct in assuming the break of the pinbar is above 1.0855 in USD/CHF?
There are a couple of Pin Bar PDF's in the attachments section. The one I follow is the basic / conservative trade which is +10 pips from the high/low of the bar (depending on direction). On Oanda the high is 1.0869 +10 = 1.0879

In the PDF files there are a couple of different ways to enter...
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #17,226
  • Dec 18, 2008 10:21pm Dec 18, 2008 10:21pm
I was out of my long CHF/JPY trade @ 83.33 this morning. It was a nice ride, curious to see what it does from this point. Anyone else still in this?
Attached Image (click to enlarge)
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Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #17,227
  • Dec 18, 2008 10:32pm Dec 18, 2008 10:32pm
What do you guys think about PB on UCAD daily. The nose is rather short I think and it formed somewhere at the PPZ, and there also kinda strong resistance IMHO. I'm new to this kind of PA analysis, so please excuse me.
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  • #17,228
  • Dec 18, 2008 11:13pm Dec 18, 2008 11:13pm
Quoting LasVahGoose
I was out of my long CHF/JPY trade @ 83.33 this morning. It was a nice ride, curious to see what it does from this point. Anyone else still in this?

Took 1/3 off around 82. Thought about getting out at 84.5. Looking for 86.5 if we get past 84.5 again.
  • #17,229
  • Dec 18, 2008 11:26pm Dec 18, 2008 11:26pm
Quoting arcus
What do you guys think about PB on UCAD daily. The nose is rather short I think and it formed somewhere at the PPZ, and there also kinda strong resistance IMHO. I'm new to this kind of PA analysis, so please excuse me.
I wouldn't consider this a pinbar, better to only look at the ones with a small body and a long nose.
  • #17,230
  • Dec 18, 2008 11:30pm Dec 18, 2008 11:30pm
Quoting mbqb11
Hey

No idea why it still says North Finance, it simply never changed name even though my feed is FXpro. I am on XP.
...

Mike
Heya Mike,
I assume that you simply copied your templates and profiles from NF to FX pro folder as not to lose them. When you do this, the feed info gets copied, too. Not really important lol, but nice to know.

RM
  • #17,231
  • Dec 19, 2008 1:19am Dec 19, 2008 1:19am
Yes! This should be nice Pin to play on EU Daily
With 61.2ret. and PPZ, location is good IMO... Any comments?
ALM

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"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #17,232
  • Dec 19, 2008 1:35am Dec 19, 2008 1:35am
Here is another view on the USD/CAD pair.

Yes, we have had a triple tops forming here around 1.30 area. I am sure someone has placed some stops a little higher there and we might see some short covering if the price can go that high.

If we link the bottom of this formation, we have a wedge/triangle here.

Previous 2 bars are forming TBH according to James16's teaching and they are sitting on the rising uptrend line.

We may get few pips if the TBH is broken. The real goodies comes if the 1.30 top is broken, or the rising trend line is broken to the downside. Either way, it will be good for pips.

Ken
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  • #17,233
  • Dec 19, 2008 1:42am Dec 19, 2008 1:42am
Hi Almfx

I like this EURUSD pinbar.

After comparing this and this USDCHF, which was the other one I considered taking, I decided to go for this one as CHF is showing too much relative strength against other currency pairs.

cheers

FXP

Quoting Almfx
Yes! This should be nice Pin to play on EU Daily
With 61.2ret. and PPZ, location is good IMO... Any comments?
ALM

Attachment
  • #17,234
  • Dec 19, 2008 1:49am Dec 19, 2008 1:49am
Quoting goodtiding5
Here is another view on the USD/CAD pair.

Yes, we have had a triple tops forming here around 1.30 area. I am sure someone has placed some stops a little higher there and we might see some short covering if the price can go that high.

If we link the bottom of this formation, we have a wedge/triangle here.

Previous 2 bars are forming TBH according to James16's teaching and they are sitting on the rising uptrend line.

We may get few pips if the TBH is broken. The real goodies comes if the 1.30 top is broken, or the rising trend line is broken...
Ken! the TBH(can also be BUOVB) break is also a PPZ level
Good for atleast some quick pips

ALM

Edit: It just broke! have fun
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #17,235
  • Dec 19, 2008 2:30am Dec 19, 2008 2:30am
Quoting Almfx
Ken! the TBH(can also be BUOVB) break is also a PPZ level
Good for atleast some quick pips

ALM

Edit: It just broke! have fun
Hi ALM,

Haha, talking about quick pips. I closed partial @ 1.2220 area based on 4 HR resistance.

Ken
  • #17,236
  • Dec 19, 2008 2:41am Dec 19, 2008 2:41am
the daily pin bar in EURUSD is fighting the bulls hard
Generally... When is good to enter a pin bar? at the close of it? or wait for a retrace and enter?
  • #17,237
  • Dec 19, 2008 2:52am Dec 19, 2008 2:52am
USDCHF trade is triggered.

PIN on the PPZ.

Ken
Attached Image
  • #17,238
  • Dec 19, 2008 2:57am Dec 19, 2008 2:57am
Quoting goodtiding5
USDCHF trade is triggered.

PIN on the PPZ.

Ken
Im in the USDCHF and EUR/USD also triggered. I guess my question to anyone is, does it makes sense to be in both CU and EU since they are very much correlated? Is that too much risk? What are the pros and cons?
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #17,239
  • Dec 19, 2008 3:03am Dec 19, 2008 3:03am
This is how we roll people.
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #17,240
  • Dec 19, 2008 3:05am Dec 19, 2008 3:05am
Quoting LasVahGoose
Im in the USDCHF and EUR/USD also triggered. I guess my question to anyone is, does it makes sense to be in both CU and EU since they are very much correlated? Is that too much risk? What are the pros and cons?
Trade each as individual trades. As if there was no correlation.
Indicators show the past. Price Action "Indicates" the future.
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