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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

Anyone looking at the this BUOB? Still new at looking at outside bars would this have been a decent trade to take? Or is there some traffic in this area? That seems to be my probelm when pickin out signals I dont understand PPZ, it is going to take practice.
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Quoting dmc
Anyone looking at the this BUOB? Still new at looking at outside bars would this have been a decent trade to take? Or is there some traffic in this area? That seems to be my probelm when pickin out signals I dont understand PPZ, it is going to take practice.


As far as price action goes that looks like a picture perfect BUOB... as far as I understand it anyway. PPZs? ... I don't know. You might see some resistance just under 140.50. I don't have charts in front of me so I can't see any others.
yes its still too early to call. but will anyone be surprised to see a pin formed here.

the first chart is from this morning.
now waiting for the next sign....
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Quoting rustyjeff
yes its still too early to call. but will anyone be surprised to see a pin formed here.

the first chart is from this morning.
now waiting for the next sign....
watching too. and if i like what i see, will be on it like white on rice . . .
"Don't trade to trade . . . trade to win." - James16
Umm what about daily Gbp/Usd,Gbp/Jpy,Eur/Jpy,Nzd/Jpy,Gbp/Chf...those are pin bars forming right...not all are A trade pin bars I believe...
Quoting Flem26
watching too. and if i like what i see, will be on it like white on rice . . .

Always keep the big picture in mind. Without posting a ton of charts, look around on the daily tf. There are oppotunities coming acrross the board.
just zoom out, & pick your best looking one. Plan it, ie pick the areas of s/r, what will you do when it gets there? what will you do if it doesnt? What will you do if it breaks?
Get your %r in place then fire away..
Hi ya Everyone,

Could someone help me please as I'm trying to get my head around good PB's still....

The first green arrow Pin Bar on JPY failed could someone explain reasons for failure and the second because in a flat part of down trend is that a good chance this will fail as well??

Thanx for any opinions..

Adrian
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looks like one heck of a pin bar forming on gbp/jpy
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Quoting aarangio
Hi ya Everyone,

Could someone help me please as I'm trying to get my head around good PB's still....

The first green arrow Pin Bar on JPY failed could someone explain reasons for failure and the second because in a flat part of down trend is that a good chance this will fail as well??

Thanx for any opinions..

Adrian

My take is that the first one failed for two reasons:
1) Not all pinbars will work... had you waited to enter till you had a breakout, you never would have entered...
2) We had had congestion just prior to the first pinbar, making it less than ideal for entry... we want to have a pinbar after significant swing lows/swing highs...

Still learning. Reading through whole thread. up to post 2250 so far!

Josh
Quoting c-note
looks like one heck of a pin bar forming on gbp/jpy
sure is!
Quoting rustyjeff
Always keep the big picture in mind. Without posting a ton of charts, look around on the daily tf. There are oppotunities coming acrross the board.
just zoom out, & pick your best looking one. Plan it, ie pick the areas of s/r, what will you do when it gets there? what will you do if it doesnt? What will you do if it breaks?
Get your %r in place then fire away..
word. geppy (gbp/jpy) is looking sweet on the daily chart . . . so far. waiting for a nice close on that pin.
"Don't trade to trade . . . trade to win." - James16
4h beob retrace to resistance entry I just took, daily is setting up as pinbar as well. Some great setups forming today.
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Nice BUOB good to top of channel.
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today's u/j pa was crazy. dont think it will close as an "a" tradable bar though. looks exactly like the daily bar from 12/12/08, so should we think carefully before we jump right into any longs? the g/u & g/y pb's are looking good though right?
Quoting senorsam21
I laughed when I read this... I did the same thing yesterday too... well sort of. I installed the new Windows 7 beta and it caused a few problems. So my demo account is back to where I started. I was up 8%. I'll just add the "money" mentally.
hehe, now thats my kind of thinkin i was doing ok too....so if i add the 2 yen shorts i had running and todays total to the gb short i had runnin my new demo acount will be....oh..... shame my real acount doesnt work like that!!
p.s. notice how they have completly retraced!!!!!
PATIENCE... DISCIPLINE
Some nice looking daily pins on JPY pairs (& GBPUSD) on NF feed. Against the long term trend though...USDJPY might be the best due to recent support.
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PB on 1Hr PPZ with the trend. Anyone going long here?
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Quoting HipsterPipster
Nice BUOB good to top of channel.
Doesn't look like the Aussie (aud/usd) to me. Your screenshot has Aud/Chf at the top; aussie/swiss maybe? Am I missing something because the prices don't match up.
Quoting senorsam21
As far as price action goes that looks like a picture perfect BUOB... as far as I understand it anyway. PPZs? ... I don't know. You might see some resistance just under 140.50. I don't have charts in front of me so I can't see any others.
Thank you senor sam
Quoting KissFan
PB on 1Hr PPZ with the trend. Anyone going long here?
It does look nice with the bounce of hourly S/R, but there's not enough room to run for me to like it. The bar is with the trend, but I'm not sure that it's technically a pin (it's really close so it probably depends on the feed whether the bar closed within the previous bar or not). Also, although I'm still learning to place PPZ, I think we're sitting right on a PPZ (Oct 2007 & Dec 2007 S/R - sorry I can't post a weekly chart) and also very near the 62 ret from the Nov/Dec 2008 move down. Could go either way from here for me, so I'm watching from the sidelines.
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