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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

  • #18,581
  • Jan 14, 2009 10:23am Jan 14, 2009 10:23am
Man I Dig You Guys. You All Make Me So Damn Proud To Have My Name On This Thread.

Thanks To All Of You And Your Never Ending Desire To Help Others.

Jim
  • #18,582
  • Jan 14, 2009 10:32am Jan 14, 2009 10:32am
Quoting james16
Man I Dig You Guys. You All Make Me So Damn Proud To Have My Name On This Thread.

Thanks To All Of You And Your Never Ending Desire To Help Others.

Jim
It's your seed Jim and your act of sowing it that now stands in the form of a strong tree providing an endless shadow for the shelter less and delicious fruit for the hungry. I am one of these fortunate ppl and don't know how if atall I can thank you.

And this is'nt me it's all of us here combined that feel this...

hats off to you JIM...

Regards,
Ghous.
I believe . . .
  • #18,583
  • Jan 14, 2009 10:42am Jan 14, 2009 10:42am
Ladies and Gentlemen, I give you...............
Death By PinBar!
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  • #18,584
  • Jan 14, 2009 10:45am Jan 14, 2009 10:45am
Quoting Interceptor
Ladies and Gentlemen, I give you...............
Death By PinBar!

Sorry to hear that. It happens from time to time. I'm no pro when it comes to J16, but let me ask you this. How much room to the downside do you see? Is this pin in traffic?
  • #18,585
  • Jan 14, 2009 10:48am Jan 14, 2009 10:48am
Quoting Interceptor
Ladies and Gentlemen, I give you...............
Death By PinBar!
That happens...

You shouldn't be expecting anything close to 100% success with this stuff, infact "100%" doesn't exist in the speculation world.
I believe . . .
  • #18,586
  • Jan 14, 2009 10:53am Jan 14, 2009 10:53am
Quoting Life of Pi_p
Sorry to hear that. It happens from time to time. I'm no pro when it comes to J16, but let me ask you this. How much room to the downside do you see? Is this pin in traffic?

Yep, very true. This would be too much traffic for me. One thing I do to solve this is zoom out your chart a bit more. People get so focused on just finding a nice looking pinbar, and then forget what is around it(which is the most important always).

Mike
  • #18,587
  • Jan 14, 2009 10:54am Jan 14, 2009 10:54am
Now in demand area...make a plan and look at the rythem to know your size ....shorts hold long scalp...

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  • #18,588
  • Jan 14, 2009 10:57am Jan 14, 2009 10:57am
Quoting Interceptor
Ladies and Gentlemen, I give you...............
Death By PinBar!
What time frame is that?
Indicators show the past. Price Action "Indicates" the future.
  • #18,589
  • Jan 14, 2009 11:01am Jan 14, 2009 11:01am
Quoting Shermenator
Now in demand area...make a plan and look at the rythem to know your size ....shorts hold long scalp...

Attachment
Forgot to add my fibb to my thinking lol
Daily chart

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  • #18,590
  • Jan 14, 2009 11:02am Jan 14, 2009 11:02am
Quoting jarroo
What time frame is that?
Daily Usd/Cad I believe...
But my chart does not show any pb on the yesterday's bar...
  • #18,591
  • Jan 14, 2009 11:06am Jan 14, 2009 11:06am
Quoting jarroo
What time frame is that?
This one was on Daily.
The thing which gave me (misplaced) hope on this one was the 50% fib and s & r situated around 1.2240ish, which kind of made me think that even if the current bar rose, it would have a hard job staying through it.
Enter the hot knife and the butter!
  • #18,592
  • Jan 14, 2009 11:06am Jan 14, 2009 11:06am
Quoting raczekfx
.
another 'horse' has come home
It took some time, but the end results is what we're looking for.
(PA+psychology+strong desire to learn and succeed + long TF) = $ in your account.
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  • #18,593
  • Jan 14, 2009 11:08am Jan 14, 2009 11:08am
Quoting xcov
Daily Usd/Cad I believe...
But my chart does not show any pb on the yesterday's bar...
Yep I had no pin either, but here is still the analysis of the area.

And what I mean by zooming out, to understand where we are.

Notice how small looking the bar really is, but more importantly all the traffic and support you would be trying to trade into. The 1.2000 area is a huge pivot(look at the congestion of the blue box area. Fighting a battle to try to trade that one. Your stop would have to be moved real quick(I would just stay out).

Just some thoughts

Mike
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  • #18,594
  • Jan 14, 2009 11:14am Jan 14, 2009 11:14am
watching..
.
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  • #18,595
  • Jan 14, 2009 11:40am Jan 14, 2009 11:40am
Quoting mbqb11
Yep I had no pin either, but here is still the analysis of the area.

And what I mean by zooming out, to understand where we are.

Notice how small looking the bar really is, but more importantly all the traffic and support you would be trying to trade into. The 1.2000 area is a huge pivot(look at the congestion of the blue box area. Fighting a battle to try to trade that one. Your stop would have to be moved real quick(I would just stay out).

Just some thoughts

Mike
Not on any of my charts either. (Note to self: do not use ATC FX Pro charting. lol)

Nice "thoughts" Mike. I like them just as much as your so called "ramblings". lol

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #18,596
  • Jan 14, 2009 11:54am Jan 14, 2009 11:54am
No pin on my charts either and as Mike says, too much traffic. If price reaches higher to Triple top area maybe thats a good place to look for PA.
PA is where its at!!
  • #18,597
  • Jan 14, 2009 12:04pm Jan 14, 2009 12:04pm
Here is another one longs below the bottom line and short above upper line
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  • #18,598
  • Jan 14, 2009 12:37pm Jan 14, 2009 12:37pm
Thanks all for the feedback on my loony disaster.
Must confess it's been a little disheartening.
  • #18,599
  • Jan 14, 2009 12:43pm Jan 14, 2009 12:43pm
Quoting Interceptor
Thanks all for the feedback on my loony disaster.
Must confess it's been a little disheartening.
Regardless of what happened with this trade, you can't let that affect your emotions at all. You are going to have tons of winners and tons of losers along the way. After awhile you realize it is "just another trade". The sooner you can do this, let your emotions/ego/feelings get out of the way, the faster the learning curve will speed up. It's a process, but just stay as clear minded as possible and enjoy every second of it.

Head up next trade

Mike
  • #18,600
  • Edited 1:43pm Jan 14, 2009 1:11pm | Edited 1:43pm
Quoting jarroo
Its just a good area to place your stop loss above instead of the just above the top of the BEOB. The top of the BEOB is the ideal stop loss placement.

Also, if Price breaks and then retraces, its a good area to look for to see if Price may head back down for re-entry.
Here's a good example of what I was trying to explain.

Usd/Jpy. We have a BEOB on the 4hour and Price breaks for some good profit. Then it retraces to the Low of the BEOB's previous bar (candle) and then continues down.
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Indicators show the past. Price Action "Indicates" the future.
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