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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

  • #2,961
  • Mar 16, 2007 5:00am Mar 16, 2007 5:00am
59Defender, setups are only valid on close. It helps if you post a chart along with a description of the setup you mean.
We had a PB on USDJPY on yesterdays close and we've gone active/broken that already.

I know I haven't posted here a while, but I'm struggling with my own demons still.

Here a small post on Cable. One could have bought the IB or BUOB break, either would have amounted to the same thing.

The 2x1D PB formation gave a sign that things were bottoming at around 1.9180. Please note that this very same area and movement happened 1000 pips lower. S/R are IDENTICAL. 1.9315 = 1.8315, 1.9355 = 1.8355 and so forth. People keep asking how to find s/r if price has never been there before. That's the answer right there.
Hope I don't get visited by men in black suits from the interbanks now...

Take care,

SeekingLight
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Trust price. Know yourself.
  • #2,962
  • Mar 16, 2007 5:27am Mar 16, 2007 5:27am
I am going to watch the 4HR chart for USDJPY here. We have a daily PP and EMA(365) @ 115.39. In addition, price is reaching the 61.8 retracement. I will be looking for price action to enter long, which goes along the same direction of yesterday's PIN.

Ken
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  • #2,963
  • Mar 16, 2007 5:49am Mar 16, 2007 5:49am
hmm..on my chart still not reach the 61.8.us-jy reach quite well to fibo retracement.still short from 116.95 (pinbar brake).im waiting for the price action and would like to see the price break my H&S setup.so now..wait the price bake the 61.8..brake the H&S..brake the 100% retracement to continue to H&S target...huaaa..is that too much? .price will tell.have fun




Quoting goodtiding5
I am going to watch the 4HR chart for USDJPY here. We have a daily PP and EMA(365) @ 115.39. In addition, price is reaching the 61.8 retracement. I will be looking for price action to enter long, which goes along the same direction of yesterday's PIN.

Ken
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  • #2,964
  • Mar 16, 2007 6:26am Mar 16, 2007 6:26am
USDJPY is indeed a bit messy...
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Trust price. Know yourself.
  • #2,965
  • Mar 16, 2007 8:40am Mar 16, 2007 8:40am
Quoting parlenk
hmm..on my chart still not reach the 61.8.us-jy reach quite well to fibo retracement.still short from 116.95 (pinbar brake).im waiting for the price action and would like to see the price break my H&S setup.so now..wait the price bake the 61.8..brake the H&S..brake the 100% retracement to continue to H&S target...huaaa..is that too much? .price will tell.have fun
Hi! How did you get your yellow and blue ma's on your MACD? I've tried doing it off the screen that pops up when you insert MACD but they don't show up.
  • #2,966
  • Mar 16, 2007 8:53am Mar 16, 2007 8:53am
This looks promising for a 200 - 300 pip short.
Orange line is a 365 ma blue line is a 55 ma
5 bounces off of this risistance area.
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It's All About Attitude ...
  • #2,967
  • Mar 16, 2007 10:50am Mar 16, 2007 10:50am
Well it's not a MA indicator..it's a custom indicator of rsi build in 2 ma line.i hope u understand the big different.

Quoting Chartist
Hi! How did you get your yellow and blue ma's on your MACD? I've tried doing it off the screen that pops up when you insert MACD but they don't show up.
  • #2,968
  • Mar 16, 2007 11:02am Mar 16, 2007 11:02am
Was that a Who Song......Pin Bar Wizard......

PS.....Congrats to James for 200 pages and nearly 3000 postings....
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It's All About Attitude ...
  • #2,969
  • Mar 16, 2007 11:03am Mar 16, 2007 11:03am
4 hr pin bar forming on AUD. Not a bad time to short.
Life is too short to have anything but delusional notions about yourself.
  • #2,970
  • Mar 16, 2007 11:08am Mar 16, 2007 11:08am
Also on Aud-Cad 4H.wait for the break tho.




Quoting hoss
4 hr pin bar forming on AUD. Not a bad time to short.
  • #2,971
  • Mar 18, 2007 2:44pm Mar 18, 2007 2:44pm
Quoting parlenk
Also on Aud-Cad 4H.wait for the break tho.
these pins arent that great as there is no confluence is there? als o not at any important ma's exponential
  • #2,972
  • Mar 19, 2007 2:51am Mar 19, 2007 2:51am
ok, how about this?
dow futures - june contract.
dbhlc - (close is lower than previous day's close but NOT previous days range)
Both highs at the .61%
what kind of ema's should we throw in for confluence? sorry if this has already been covered i am still going through the forum and way behind...
i use 10, 21 and 50. as you can see on the chart, the signal comes just under the 10 which is a good indicator for me of more downside short term.
BUT we're higher this morning so another test of that high could be underway...
let's see how it plays out...
just looked at this again - can't believe i didn't stop this first time round but does that long spike down qualify as a pin bar setup?
if so, what does one do here, sit on the sidelines?
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  • #2,973
  • Mar 19, 2007 1:09pm Mar 19, 2007 1:09pm
Hello Friends,

I'm a new member here. I recently joined the private forum. I did not know where to post this question.

I Haave good experience with candlestick patterns . So I'm easily able to related to James price action methods. I've started demo trading and today I took a short trade on USD CHF based on a pin bar (shooting star ) on 1HR chart. It ddint work out to be that great. It appeared after a reasonable uptrend. thats why i thought it was signalling a possible new downtrend. And i initiated the trade only after price crossed below the piin bar's low , just for extra confirmation

Could you pleae tell me whats wrong.

http://www.villagephotos.com/pubbrow...der_id=1840099
  • #2,974
  • Mar 19, 2007 1:30pm Mar 19, 2007 1:30pm
for some reason your image doesn't work for me...it won't load.
but i just checked my charts for USD/CHF and i don't see a pin bar on the 1hr charts...what time did it appear?
  • #2,975
  • Mar 19, 2007 1:32pm Mar 19, 2007 1:32pm
nramesh30,


The pin you are talking about is not a great pin. On a 1hr chart you want to see a much greater nose. The pin you are talking about is in a bit of traffic. Remember, it is not the bars that are all that important, but where they are at. I hope this helped a little.

Take care,

Rsq955
  • #2,976
  • Mar 19, 2007 1:45pm Mar 19, 2007 1:45pm
Quoting rsq955
nramesh30,


The pin you are talking about is not a great pin. On a 1hr chart you want to see a much greater nose. The pin you are talking about is in a bit of traffic. Remember, it is not the bars that are all that important, but where they are at. I hope this helped a little.

Take care,

Rsq955
I agree with this assessment.
It is in a bit of traffic.
On top of that, it's got a pretty good uptrend going and sometimes a pin in that location will trigger just as price takes a breather and then continues up.
And 1H charts aren't as reliable as higher timeframes.
  • #2,977
  • Mar 19, 2007 2:52pm Mar 19, 2007 2:52pm
Thanks guys. So the best place to take a pin bar trade is swing high/lows or feb retracements ? Is there any fib for dummies guide covered by James 16 thread?

Thanks
Ramesh




Quoting rsq955
nramesh30,


The pin you are talking about is not a great pin. On a 1hr chart you want to see a much greater nose. The pin you are talking about is in a bit of traffic. Remember, it is not the bars that are all that important, but where they are at. I hope this helped a little.

Take care,

Rsq955
  • #2,978
  • Mar 19, 2007 10:20pm Mar 19, 2007 10:20pm
is the daily forming a pin. its at 76.4 retrace
  • #2,979
  • Mar 19, 2007 11:58pm Mar 19, 2007 11:58pm
Inside Bar on the GBP/USD
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  • #2,980
  • Mar 19, 2007 11:59pm Mar 19, 2007 11:59pm
Quoting Jimmywa
is the daily forming a pin. its at 76.4 retrace
way to early to tell jimmy, we got a whole day ahead of us, before we need to look at what the daily formed.

Did form a pin on the H4

Best,
M
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