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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

  • #20,241
  • Feb 2, 2009 4:34pm Feb 2, 2009 4:34pm
Quoting Greenhaze
Hi Jduester

Imo this pin is to small compared to the last down move. I would prefer longer wick and smaller body. A no trade for me
I dont think it even did close inside friday's range...not a pin for me
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #20,242
  • Feb 2, 2009 4:49pm Feb 2, 2009 4:49pm
Quoting djambazov84
I dont think it even did close inside friday's range...not a pin for me
X2 . . I really liked thay NZD Trade . . . *sigh* Shouldn't have been drawing up charts about how I was going to trade it before it even closed . . .
  • #20,243
  • Feb 2, 2009 5:09pm Feb 2, 2009 5:09pm
Anybody considered trading the daily Gbp/Cad...
not a pin bar but more likely an inside bar?

How would you guys trade this one?
Like a pin bar or like an inside bar?


Well I don't think I'm going to trade this one because the risk reward stuffs..
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  • #20,244
  • Feb 2, 2009 5:16pm Feb 2, 2009 5:16pm
Quoting raczekfx
Let's just say it's a voodoo with a name..... Its name: 111995..
Quoting jarroo
Ok I give up I'm lost.
It was the date when EURGBP hit its then all-time-high.
RM
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  • #20,245
  • Feb 2, 2009 5:17pm Feb 2, 2009 5:17pm
Quoting Rainmaker
It was the date when EURGBP hit its then all-time-high.
RM
Ahhhh ! Good detective work RM
  • #20,246
  • Feb 2, 2009 5:18pm Feb 2, 2009 5:18pm
Quoting bertie123
Hi Guys

Anyone looking at this one? At a swing low with plenty of space, could be good for a ride up to 0.8000 if it breaks?
Looks like a valid PB. it's at 61 fibo retrancement too. any one else think this is a valid trade?
  • #20,247
  • Feb 2, 2009 5:24pm Feb 2, 2009 5:24pm
Quoting fxsheep
Looks like a valid PB. it's at 61 fibo retrancement too. any one else think this is a valid trade?
chart added
Attached Image
  • #20,248
  • Feb 2, 2009 5:35pm Feb 2, 2009 5:35pm
Quoting fxsheep
chart added
It's a valid pin bar I think...
But my question is should we be worried of that brown boxed area or is it just my imagination?
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  • #20,249
  • Feb 2, 2009 5:37pm Feb 2, 2009 5:37pm
Quoting xcov
It's a valid pin bar I think...
But my question is should we be worried of that brown boxed area or is it just my imagination?
I would say way to much traffic,wait for the next one.
  • #20,250
  • Feb 2, 2009 5:41pm Feb 2, 2009 5:41pm
Quoting jlmac27
I would say way to much traffic,wait for the next one.
Yeah I think so too
  • #20,251
  • Feb 2, 2009 5:48pm Feb 2, 2009 5:48pm
Quoting Rainmaker
It was the date when EURGBP hit its then all-time-high.
RM




  • #20,252
  • Feb 2, 2009 5:55pm Feb 2, 2009 5:55pm
Quoting xcov

Well I don't think I'm going to trade this one because the risk reward stuffs..
who knows, what future holds..
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  • #20,253
  • Feb 2, 2009 5:55pm Feb 2, 2009 5:55pm
Quoting raczekfx




OK. My web based charts show 1995 High is .8410. ( not at Home)
Indicators show the past. Price Action "Indicates" the future.
  • #20,254
  • Feb 2, 2009 6:12pm Feb 2, 2009 6:12pm
Just closed down my dailys and 4 hrs with no trades, sometimes it can be so discouraging.
  • #20,255
  • Feb 2, 2009 6:17pm Feb 2, 2009 6:17pm
Quoting xcov
It's a valid pin bar I think...
But my question is should we be worried of that brown boxed area or is it just my imagination?
ok thanks! I'll pass this one then. I guess i'm too eager to jump in on any thing that looks like a PB.

thanks for the analysis.
  • #20,256
  • Feb 2, 2009 6:28pm Feb 2, 2009 6:28pm
Quoting fxsheep
ok thanks! I'll pass this one then. I guess i'm too eager to jump in on any thing that looks like a PB.

thanks for the analysis.
Waiting is the name of the game,This is one of Jims things he says over and over.I am getting anxiuos myself waiting for a trade.I am only looking at daily charts now.There have been a couple trades I missed due to not getting in when the pin broke(attending my day job)But this is really teaching me to sit still and wait.The next one is just around the corner!!
  • #20,257
  • Feb 2, 2009 6:34pm Feb 2, 2009 6:34pm
Quoting raczekfx
who knows, what future holds..
Well that sure is interesting...
  • #20,258
  • Feb 2, 2009 6:50pm Feb 2, 2009 6:50pm
Quoting jarroo
E/J: A classic James16 trade. Price did everything it was suppose to do.

Was it an "A" trade . . a Mike trade. No, it was not. Pin Bar to small compared to recent Pin Bar Lows that didn't work, support level was not well defined, etc. Price Action is a powerful thing and this stuff works. It just takes time to understand what works, what doesn't, and where Price is likely to go.
Yeah, I really liked this trade. I am not following when you say that the Pinbar was too small relative to other Pinbar lows that didn't work. Looking at the 8 hour chart, I only see a few pinbars in the last 5 days or so... Or are you looking further back than that? It looks like it's a swing low, O/C inside previous bar, nose protrudes 0.72 below prior bar low.

Now, if we look at confluence. All I had was that it failed to break through 113.00 after being able to do so two weeks ago. I would think we should need more than that. So if that's the reason for it not being an 'A' trade, I would agree... As for the bar itself and it's relative location to prior bars, I don't understand how it could be better.
Would you consider pinbar 1 in my chart to be 'too' long? It would be tough for me to justify the R:R on pinbar 1, while I found it quite reasonable for the pin we took today. Just trying to learn and ask questions.
Thanks for the feedback on the NZD/usd 'pin'. I have cancelled my order as I realize that I was just placing it to have something in the market. Lots learned and lots to learn yet...

Good trade, and yes, I fully have bought into PA. Up to post 6205 now reading through this thread.

Josh
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  • #20,259
  • Feb 2, 2009 7:31pm Feb 2, 2009 7:31pm
Quoting Jduester
Yeah, I really liked this trade. I am not following when you say that the Pinbar was too small relative to other Pinbar lows that didn't work. Looking at the 8 hour chart, I only see a few pinbars in the last 5 days or so... Or are you looking further back than that? It looks like it's a swing low, O/C inside previous bar, nose protrudes 0.72 below prior bar low.

Now, if we look at confluence. All I had was that it failed to break through 113.00 after being able to do so two weeks ago. I would think we should need more than that. So if that's...
Pin bar 1 on your chart looked great. Pin bars are never too long. But it didn't break. A great looking setup and it doesn't break. I don't know how many times a PA setup has saved me because it didn't break. This is one of them.

The best PA setups break on the next bar. As today's 8 hour E/J pin bar did.
Indicators show the past. Price Action "Indicates" the future.
  • #20,260
  • Feb 2, 2009 7:37pm Feb 2, 2009 7:37pm
Quoting Rainmaker
It was the date when EURGBP hit its then all-time-high.
RM

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