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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

  • #22,221
  • Feb 22, 2009 8:12pm Feb 22, 2009 8:12pm
Quoting jarroo
Very nice Dave. Your lips to Price's ear. lol
Well as long as my tongue isn't in there thats fine
  • #22,222
  • Feb 22, 2009 8:12pm Feb 22, 2009 8:12pm
Quoting rustyjeff
The quick grab for some profit, understandable, coming from the fact that no matter how good the weekly pin is. We are still in a strong down trend untill proven otherwise.

This is a trade however I am willing to risk the 1% & keep the stop where it is (at the bottom of the bar) & not take any profit till the first weekly resistance area
Looks real good Jeff.
Indicators show the past. Price Action "Indicates" the future.
  • #22,223
  • Edited 9:21pm Feb 22, 2009 8:20pm | Edited 9:21pm
Hi everyone,

I've spotted a potential pin bar setup on the USD/CHF weekly. Does anyone have any advice on how I could further validate this trade with some confluence?; im still trying to master that aspect of my trading.

Let me know what yall think.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFPin.jpg Size: 155 KB
  • #22,224
  • Feb 22, 2009 9:42pm Feb 22, 2009 9:42pm
Quoting BWise
Hi everyone,

I've spotted a potential pin bar setup on the USD/CHF weekly. Does anyone have any advice on how I could further validate this trade with some confluence?; im still trying to master that aspect of my trading.

Let me know what yall think.
Hello BWise,

According to my limited understanding this falls under the category of Bearsih Outside Bars. Seniors please do correct me if I am wrong.
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #22,225
  • Feb 22, 2009 9:46pm Feb 22, 2009 9:46pm
Quoting djambazov84
Hello BWise,

According to my limited understanding this falls under the category of Bearsih Outside Bars. Seniors please do correct me if I am wrong.
That's correct dj.

Bwise check previous posts, like dmc's http://www.forexfactory.com/showpost...ostcount=22175
Indicators show the past. Price Action "Indicates" the future.
  • #22,226
  • Feb 22, 2009 9:53pm Feb 22, 2009 9:53pm
Just to clearify, a pin bar is not valid if it engulfs the previous bar?

And does the BEOVB signify a continuation of the current trend?


Thanks for steering me away from danger djambazov84 and jarroo, much appreciated.
  • #22,227
  • Feb 22, 2009 10:29pm Feb 22, 2009 10:29pm
I cant see anything worth buying tonight... good night all
Dr. C
  • #22,228
  • Feb 22, 2009 10:36pm Feb 22, 2009 10:36pm
Quoting BWise
Hi everyone,

I've spotted a potential pin bar setup on the USD/CHF weekly. Does anyone have any advice on how I could further validate this trade with some confluence?; im still trying to master that aspect of my trading.

Let me know what yall think.
Hello BWise,

This would be my trade plan for the USD/CHF if I traded that pair. As you can see, I place more weight on the location of a trade than on specific PA bar patterns. Your profit objectives for each trade will determine whether or not a given location is worth the risk.

As for the weekly PIN, IMO it would be better if the nose of the pin projected above the pivot zone. This would tell me that price was rejected at that area, that is how I play them. As it is, there has been a strong reaction away from a pivot zone, this may be enough.

Cam
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDCHF TradePlan 18Feb.jpg Size: 122 KB
Click to Enlarge Name: PIN classification.jpg Size: 45 KB
  • #22,229
  • Feb 22, 2009 10:45pm Feb 22, 2009 10:45pm
Quoting ProbaBill
Hello BWise,

This would be my trade plan for the USD/CHF if I traded that pair. As you can see, I place more weight on the location of a trade than on specific PA bar patterns. Your profit objectives for each trade will determine whether or not a given location is worth the risk.

As for the weekly PIN, IMO it would be better if the nose of the pin projected above the pivot zone. This would tell me that price was rejected at that area, that is how I play them. As it is, there has been a strong reaction away from a pivot zone, this may be enough.

Cam...
I got you. Thanks to all the senior members who look out for newbies such as myself. Hopefully when I become more experienced recognizing certain setups, i'll return the favour.
  • #22,230
  • Feb 23, 2009 12:20am Feb 23, 2009 12:20am
H1 pin on cable at a resistance area .. ?
  • #22,231
  • Feb 23, 2009 12:46am Feb 23, 2009 12:46am
Quoting jarroo
I hope some took the break. Good for 50+ pips.
Nice one Jarro...

There was little dought that you would mis this one lol!

I am with Jeff though, gonna hold this baby till we hit those weekly bar highs...

Anyways, here is an IB on the Eur/Jpy, Not sure how many of you guys caught this...

First TP is just below 122. SL at BE.

Regards,
Ghous.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 13 KB
Click to Enlarge Name: eu.gif Size: 9 KB
I believe . . .
  • #22,232
  • Feb 23, 2009 1:13am Feb 23, 2009 1:13am
Quoting ghous
Nice one Jarro...

There was little dought that you would mis this one lol!

I am with Jeff though, gonna hold this baby till we hit those weekly bar highs...

Anyways, here is an IB on the Eur/Jpy, Not sure how many of you guys caught this...

First TP is just below 122. SL at BE.

Regards,
Ghous.
I agree, a long term play on the Euro looks good. IBs are riskier PAs, as always location is key.
Indicators show the past. Price Action "Indicates" the future.
  • #22,233
  • Feb 23, 2009 1:14am Feb 23, 2009 1:14am
hello guys
look at this pin on cable h4
comments anyone, about 40 mins till bar closes
cheers


ps... i missed the nice pin on gold due to sleep, awake for this one
Attached Image (click to enlarge)
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Simplicity is the key to success
  • #22,234
  • Feb 23, 2009 1:41am Feb 23, 2009 1:41am
Quoting squeezy
hello guys
look at this pin on cable h4
comments anyone, about 40 mins till bar closes
cheers


ps... i missed the nice pin on gold due to sleep, awake for this one
Could be a good nice short term trade to the highs at 1444 region Squeezy provided the bar does close as a valid Pin bar

Regards,
Ghous.
I believe . . .
  • #22,235
  • Feb 23, 2009 1:59am Feb 23, 2009 1:59am
Quoting ghous
Could be a good nice short term trade to the highs at 1444 region Squeezy provided the bar does close as a valid Pin bar

Regards,
Ghous.
thnx ghous, dats my 1st tp if it closes as a pin bar
Simplicity is the key to success
  • #22,236
  • Feb 23, 2009 2:02am Feb 23, 2009 2:02am
hey ghous, it didnt close as a pin as expected, sitting dis one out.....
Simplicity is the key to success
  • #22,237
  • Feb 23, 2009 2:02am Feb 23, 2009 2:02am
Quoting squeezy
thnx ghous, dats my 1st tp if it closes as a pin bar
Forget it
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I believe . . .
  • #22,238
  • Feb 23, 2009 2:12am Feb 23, 2009 2:12am
Waiting...
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I believe . . .
  • #22,239
  • Feb 23, 2009 2:38am Feb 23, 2009 2:38am
TP on EUR/JPY hit banked about 150 pips Can't believe how well I've been doing since coming to this thread!!! Special thx to ghous and jaroo for soooo much contributions, I've learned SO MUCH
  • #22,240
  • Feb 23, 2009 2:42am Feb 23, 2009 2:42am
Quoting Jlr
TP on EUR/JPY hit banked about 150 pips Can't believe how well I've been doing since coming to this thread!!! Special thx to ghous and jaroo for soooo much contributions, I've learned SO MUCH
Nicely done JLR, I hit mine too

Regards,
Ghous.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 13 KB
I believe . . .
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