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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

  • #21,821
  • Feb 18, 2009 4:38pm Feb 18, 2009 4:38pm
Quoting jarroo
That 4 hour Pin Bar in the middle of traffic. "B'' and "C" trades sometimes work out. They prove themselves at times just enough to give you false hope. Still if I was icthing to trade, why not enter with some assemblage of a PA setup.

James16, Mike and others will tell you many times how they didn't take a "B/C" type trade that they thought was pretty good and then watched it go to the moon.

We look for the best "A" type trade and nothing less. It's an ongoing study. You just need to get burned on a few "B/C" trades to re-focus your...
if one should choose to enter a non A trade, then i think one should still only enter upon the break of the pa bar. then be quick to move sl to b/e & quick to take profit, dont be looking/expecting for much, & "dont be greedy". it is definitely a trade one would need to manage closely & not walk away from. also be leary of the time of day, current market activity, & news events/announcements. (just my 2 cents)
  • #21,822
  • Feb 18, 2009 5:07pm Feb 18, 2009 5:07pm
can this be considered a dblhc? (see white arrows). this is the eur/chf 4h. price ran into 1.47 like a brick wall. i added the daily for the big picture.
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  • #21,823
  • Feb 18, 2009 5:10pm Feb 18, 2009 5:10pm
Quoting dkmb92
can this be considered a dblhc? (see white arrows). this is the eur/chf 4h. price ran into 1.47 like a brick wall. i added the daily for the big picture.
yep technically speaking that is a DBLHC, but that small of a pattern on the 4hr is mighty tough to pull the trigger on if you ask me


Mike
  • #21,824
  • Feb 18, 2009 5:26pm Feb 18, 2009 5:26pm
What about this one I picked as a pinbar entry? Is this how we do it correctly? USDCHF have moved up slowly over the past few weeks. Please rate my trade on this one.
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  • #21,825
  • Feb 18, 2009 5:34pm Feb 18, 2009 5:34pm
Quoting hijackxx
What about this one I picked as a pinbar entry? Is this how we do it correctly? USDCHF have moved up slowly over the past few weeks. Please rate my trade on this one.
I can't see my regular charts right now but from wait I see from your chart it looks good. I'm looking at my previous charts from this post: http://www.forexfactory.com/showpost...ostcount=21748
Indicators show the past. Price Action "Indicates" the future.
  • #21,826
  • Edited 5:58pm Feb 18, 2009 5:42pm | Edited 5:58pm
Quoting hijackxx
What about this one I picked as a pinbar entry? Is this how we do it correctly? USDCHF have moved up slowly over the past few weeks. Please rate my trade on this one.
Nice one, should be a good ride to your lower blue support line. This pair is in a rising wedge on the daily too, suggesting a break down. May find yourself in right at the top
  • #21,827
  • Feb 18, 2009 6:00pm Feb 18, 2009 6:00pm
Quoting hijackxx
What about this one I picked as a pinbar entry? Is this how we do it correctly? USDCHF have moved up slowly over the past few weeks. Please rate my trade on this one.
The only thing that's giving me pause is that it didn't break on the next candle and it's not breaking down hard. could be the time of day.

See how the other PB did (light blue circle), next candle break and robust.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #21,828
  • Feb 18, 2009 6:10pm Feb 18, 2009 6:10pm
Quoting jarroo
The only thing that's giving me pause is that it didn't break on the next candle and it's not breaking down hard. could be the time of day.

See how the other PB did (light blue circle), next candle break and robust.
Ha, missed that, thanks jaroo.

Looks like he's entered aggressively anyway.

BTW it was not a pin on my feed
  • #21,829
  • Feb 18, 2009 6:11pm Feb 18, 2009 6:11pm
Quoting jarroo
The only thing that's giving me pause is that it didn't break on the next candle and it's not breaking down hard. could be the time of day.

See how the other PB did (light blue circle), next candle break and robust.
Jarroo,
I'm happy to see you point that out as an area of concern. I was just about to post my chart asking you that same question. Could this now have turned support?

Steve.
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"The more I practice, the luckier I get." (Gary Player)
  • #21,830
  • Feb 18, 2009 6:17pm Feb 18, 2009 6:17pm
Quoting NuckingFuts
Ha, missed that, thanks jaroo.

Looks like he's entered aggressively anyway.

BTW it was not a pin on my feed
I entered on 3 different position of my normal lot so that I can manage to set take profit for each rather than manually close 1/3 each, and, I was pretty relax when I took it anyway. So how is the real pin bar if that wasn't one? I'm going to set them all to BE now for safety.
  • #21,831
  • Feb 18, 2009 6:20pm Feb 18, 2009 6:20pm
Quoting hijackxx
I entered on 3 different position of my normal lot so that I can manage to set take profit for each rather than manually close 1/3 each, and, I was pretty relax when I took it anyway. So how is the real pin bar if that wasn't one? I'm going to set them all to BE now for safety.
The better performing pins break on the next bar and like jaroo says, usually break hard and fast.

The one you have posted didn't break until the second bar after it.

Positioning however is excellent IMHO.
  • #21,832
  • Feb 18, 2009 6:25pm Feb 18, 2009 6:25pm
Quoting mrsingha
Jarroo,
I'm happy to see you point that out as an area of concern. I was just about to post my chart asking you that same question. Could this now have turned support?

Steve.
From looking at your chart it looks like its below the resistence level of 1.1800-1.1780 level. It may go back at test it again. Overall not a bad setup. Is it an "A" trade? Probably not because it would have broke for 50 pips already. lol
Indicators show the past. Price Action "Indicates" the future.
  • #21,833
  • Feb 18, 2009 6:26pm Feb 18, 2009 6:26pm
Quoting NuckingFuts
The better performing pins break on the next bar and like jaroo says, usually break hard and fast.

The one you have posted didn't break until the second bar after it.

Positioning however is excellent IMHO.
thanks, guys!
  • #21,834
  • Feb 18, 2009 6:30pm Feb 18, 2009 6:30pm
Quoting hijackxx
thanks, guys!
And IMHO, you need to watch for the PPZ just below the PB (I draw a line). Correct me if I'm wrong Jarroo. Still learning
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  • #21,835
  • Feb 18, 2009 6:40pm Feb 18, 2009 6:40pm
Quoting arcus
And IMHO, you need to watch for the PPZ just below the PB (I draw a line). Correct me if I'm wrong Jarroo. Still learning
Is that a Daily PPZ? We like to look at Daily/Weekly PPZs on the 4 hour.
Indicators show the past. Price Action "Indicates" the future.
  • #21,836
  • Feb 18, 2009 6:43pm Feb 18, 2009 6:43pm
Quoting hijackxx
thanks, guys!
It's moving nicely now. Nice trade hijack.

Don't get greedy. lol
Indicators show the past. Price Action "Indicates" the future.
  • #21,837
  • Feb 18, 2009 6:47pm Feb 18, 2009 6:47pm
Quoting arcus
And IMHO, you need to watch for the PPZ just below the PB (I draw a line). Correct me if I'm wrong Jarroo. Still learning
Spot on arcus, nice vision. If you draw the lower support TL on the rising wedge, it actually comes up just over this line, thus the reason I said it should be good to at least his lower support blue TL.
  • #21,838
  • Feb 18, 2009 6:52pm Feb 18, 2009 6:52pm
Quoting jarroo
Is that a Daily PPZ? We like to look at Daily/Weekly PPZs on the 4 hour.
Ok, I'm a little tighter than jaroo

I rarely trade the 4hr, but if I did, I'd be at least aware of the 4 hr PPZ, just for reassessment/take profit if PA indicates to do so.

If it were a daily pin, 4hr PPZ means diddly squat.

This is just me though, my backside is tight, tight, tight!
  • #21,839
  • Feb 18, 2009 7:01pm Feb 18, 2009 7:01pm
Quoting jarroo
Is that a Daily PPZ? We like to look at Daily/Weekly PPZs on the 4 hour.
Yes. It is somewhere between the flip s/r 19 Oct - 6 Nov. Still not very good at choosing the s/r area since sometime the PP Zone is larger and sometime it just come up nicely to the pip.

Quote
Spot on arcus, nice vision. If you draw the lower support TL on the rising wedge, it actually comes up just over this line, thus the reason I said it should be good to at least his lower support blue TL.

Yup, the wedge clearly can be seen on the daily. Usually we would have a strong move after wedge, sort of like physic. When you compressed a balloon lol.
  • #21,840
  • Feb 18, 2009 7:03pm Feb 18, 2009 7:03pm
Quoting NuckingFuts
Ok, I'm a little tighter than jaroo

I rarely trade the 4hr, but if I did, I'd be at least aware of the 4 hr PPZ, just for reassessment/take profit if PA indicates to do so.

If it were a daily pin, 4hr PPZ means diddly squat.

This is just me though, my backside is tight, tight, tight!
lol. Yeah I thought he was talking trade setups on the 4 hour (Daily/Weekly PPZs).

Excellent take profit targets at the 4 hour PPZs.
Indicators show the past. Price Action "Indicates" the future.
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