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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

  • #19,101
  • Jan 20, 2009 3:41am Jan 20, 2009 3:41am
Quoting mbqb11
Hey Dave

It is all a learning process so don't let it shake your confidence. The pinbar itself was in some traffic, but I could see the reasons some may have had an order in.

A lot of us always place our order above the HIGH of the pinbar. So in this case that would have never triggered keeping you out of this trade. Playing on a retrace or the close is much more aggressive(not that it isn't ok), but I highly suggest always waiting for a break of the bar to enter.

Take care and don't worry about it !

Mike
Hi Mike,


I see lots of people taling about pin bar in traffic. What is exactly that means?
  • #19,102
  • Jan 20, 2009 3:44am Jan 20, 2009 3:44am
Quoting RedA
Hi Mike,


I see lots of people taling about pin bar in traffic. What is exactly that means?
hey Red

Basically a pinbar in traffic is when you are trading a pinbar that is stuck in some sort of sideways market. Meaning there is price bars located either right next to or around your pinbar. This can "hold up" your pinbar from running as smooth as a pinbar that is not in traffic. I made a video up in the guest section of the j16 site where I talk about "space" and this concept. It should help answer that question. Have a look, if still confused shoot me a msg

Best
Mike
  • #19,103
  • Jan 20, 2009 3:54am Jan 20, 2009 3:54am
Hey Mike

Happy New Year to you

Time is passing. We're both still active.... (not flashes in the FF pan)

Quoting mbqb11
Best
Mike
  • #19,104
  • Jan 20, 2009 3:54am Jan 20, 2009 3:54am
I'd consider this pin in traffic, despite its shape looking pretty good. Because of the areas it was gonna run into as soon as it broke.
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  • #19,105
  • Jan 20, 2009 4:09am Jan 20, 2009 4:09am
Quoting Blackinc
I'd consider this pin in traffic, despite its shape looking pretty good. Because of the areas it was gonna run into as soon as it broke.
And to add to your post it had a bearish close.
  • #19,106
  • Jan 20, 2009 4:25am Jan 20, 2009 4:25am
Quoting Blackinc
I'd consider this pin in traffic, despite its shape looking pretty good. Because of the areas it was gonna run into as soon as it broke.
I don't consider it being in traffic. But even if someone considered its shape looking good, you'd have to note that its open and close were below broken ppz, hence chances of it work out (evenif it broke to the upside) were slim.
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  • #19,107
  • Jan 20, 2009 4:32am Jan 20, 2009 4:32am
Quoting raczekfx
I don't consider it being in traffic.

Fair point, i guess in my mind its breaking into "traffic", with no where to go.

I also think we're looking at it the same way, but explaining it different.

In which case i'll stay on the sidelines, no need to confuse things
  • #19,108
  • Jan 20, 2009 4:34am Jan 20, 2009 4:34am
Quoting raczekfx
I don't consider it being in traffic. But even if someone considered its shape looking good, you'd have to note that its open and close were below broken ppz, hence chances of it work out (evenif it broke to the upside) were slim.
exactly the same scenario with g/j. Should that pin's opened and close was above purple line, we'd be probably testing 130 right now...
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  • #19,109
  • Jan 20, 2009 4:37am Jan 20, 2009 4:37am
Quoting raczekfx
I don't consider it being in traffic. But even if someone considered its shape looking good, you'd have to note that its open and close were below broken ppz, hence chances of it work out (evenif it broke to the upside) were slim.

Hi Rec,
Nice entry. I see the divergence. But I have not seen a pin bar to trigger this reversal. Don't dare to since I was burnt yesterday. Can you explain your entry based on what trigger and the target? Thanks.
  • #19,110
  • Jan 20, 2009 4:40am Jan 20, 2009 4:40am
Quoting raczekfx
exactly the same scenario with g/j. Should that pin's opened and close was above purple line, we'd be probably testing 130 right now...

Can understand you buying GBP down there.

Don't understand the GBP/JPY crystal ball man. Other than your reasoning before on everyone loving obama and realising what a bargain the yen is..

Love to hear some more on that if you've got a minute to divulge?
  • #19,111
  • Jan 20, 2009 4:52am Jan 20, 2009 4:52am
HI guys.
I have potential PB on CHFJPY, H4. Daily PPZ, divergence, 61.8 fib retrace. The nose is not very long but it might be good setup. What do you think?
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  • #19,112
  • Jan 20, 2009 5:32am Jan 20, 2009 5:32am
Nice PB on 30m NZDUSD off daily support at 5277. See how the 1H goes.
  • #19,113
  • Jan 20, 2009 5:39am Jan 20, 2009 5:39am
Quoting RedCabbage
Nice PB on 30m NZDUSD off daily support at 5277. See how the 1H goes.
All I see is bad tidings ahead for the nzd/usd on the 4h an daily
Patience + Humility + Study = Success
  • #19,114
  • Jan 20, 2009 5:46am Jan 20, 2009 5:46am
Where is the bank of Japan when you need them? GBP/JPY is getting out of hand.
"Don't trade to trade . . . trade to win." - James16
  • #19,115
  • Jan 20, 2009 6:13am Jan 20, 2009 6:13am
Quoting KissFan
Made some pips today on EU short trade taken right at the weekly PPZ. Crunched for time, I totally missed the USDCHF fairly obvoius long. Took a long position at the break of the indicated IB and the trade executed as I was posting this chart.
Looks like we are taking a breather from last evenings long trade on USDCHF. I should probably wait for the break of the pin(down) but I'll lock in profit before 2nd target and wait for better confirmation for upward move to TP2. Shorting to the 365 now.
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  • #19,116
  • Jan 20, 2009 6:31am Jan 20, 2009 6:31am
Weekly Doble Bar Low on EURGBP.
Any comments are more than welcome....

Regards...
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  • #19,117
  • Jan 20, 2009 7:10am Jan 20, 2009 7:10am
Quoting trujillo1980
Weekly Doble Bar Low on EURGBP.
Any comments are more than welcome....

Regards...
I entered off the break of the pin on the daily, then also entered on the break of the DBL. Took the daily trade off the board at your TP1 and I'm going to let the weekly trade run.
  • #19,118
  • Jan 20, 2009 7:34am Jan 20, 2009 7:34am
Quoting trujillo1980
Weekly Doble Bar Low on EURGBP.
Any comments are more than welcome....
I took it long as a weekly I.B. with the same TP but since I've had enough time to micro manage I am letting it run with profit locked in.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #19,119
  • Jan 20, 2009 7:35am Jan 20, 2009 7:35am
Quoting Icehocey77
I entered off the break of the pin on the daily, then also entered on the break of the DBL. Took the daily trade off the board at your TP1 and I'm going to let the weekly trade run.
Uh...I see...good one.

Good thing is that I get some confidence because the analisys I did before is right. even thought I didn't take the trade

Price Action works people....!!!
  • #19,120
  • Jan 20, 2009 7:38am Jan 20, 2009 7:38am
Quoting trujillo1980
Weekly Doble Bar Low on EURGBP.
Any comments are more than welcome......
I think you have the analysis a little backwards though. A double bar low would be normally taken as a continuation short, unless there is a higher close which may be taken long, but this one has a lower close so it's either a DBL short or an IB long....

Unless it's too early in the morning to remember.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
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