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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

  • #22,421
  • Feb 25, 2009 4:49am Feb 25, 2009 4:49am
Quoting TexasforEX
Any James' traders paying mind of the BEOB 4hr bar on gbpusd?
Certainly am, looks good
  • #22,422
  • Feb 25, 2009 4:57am Feb 25, 2009 4:57am
Thx Jigsaw for the info - would u believe i got in, but when the news came out better than expected i closed for small profit, afraid of reversal ...
then u see what happened
  • #22,423
  • Feb 25, 2009 5:34am Feb 25, 2009 5:34am
That wasnt the best cable hourly pin, but look at the 4H =p
  • #22,424
  • Feb 25, 2009 5:39am Feb 25, 2009 5:39am
I preferred the look of Geppy better myself.
"The more I practice, the luckier I get." (Gary Player)
  • #22,425
  • Feb 25, 2009 5:41am Feb 25, 2009 5:41am
Can someone further explain this please? It was a bar mentioned in Jim's last video.
"Whether you think you can or can't, you're right." Henry Ford
  • #22,426
  • Feb 25, 2009 6:03am Feb 25, 2009 6:03am
yes, I was in that too, got out at the 38% retrace of yesterdays move, should have held =p


Pippin', a pinbar by proxy is when you add a number of bars together to see the rejection of a level, technically it could be any number of bars. The GBPAUD i mentioned on the daily is just 2 bars. Pull up the chart and look at it, if you take the open of the first bar and the close of the second and draw the bar that you get with those 2 prices as O/C and the relevant high and low you will get a pin bar.
  • #22,427
  • Feb 25, 2009 6:06am Feb 25, 2009 6:06am
help me get over my shock at closing when news came out better than expected ...
  • #22,428
  • Feb 25, 2009 6:09am Feb 25, 2009 6:09am
Quoting pipmyride
help me get over my shock at closing when news came out better than expected ...
Dude.... Don't listen to the news. You don't need to with these methods.

If you know your strong confluence levels they tend to be where news spikes stop anyway.

Maybe avoid NFP fridays. ...though even they haven't been so bad recently.
Bundy's status today: "Waiting..."
  • #22,429
  • Feb 25, 2009 6:12am Feb 25, 2009 6:12am
Quoting enculée
That wasnt the best cable hourly pin, but look at the 4H =p
Agreed

Quoting mrsingha
I preferred the look of Geppy better myself.
Missed that one . . . Boooo !

Quoting Scot Pippin'
Can someone further explain this please? It was a bar mentioned in Jim's last video.
Sup scot,

I am on the run here so I did by best at a quick doodle .

Somebody better than me like Mbqb11 will probably explain better than I can.

I think this is right anyway heh .

EDIT - As for cable I think it gets a little bit messy around the .43 level
Attached Image (click to enlarge)
Click to Enlarge Name: proxy pin example.jpg Size: 213 KB
  • #22,430
  • Feb 25, 2009 6:13am Feb 25, 2009 6:13am
Quoting bundyraider
Dude.... Don't listen to the news. You don't need to with these methods.

If you know your strong confluence levels they tend to be where news spikes stop anyway.

Maybe avoid NFP fridays. ...though even they haven't been so bad recently.
I was just about to say this heh.
  • #22,431
  • Feb 25, 2009 6:17am Feb 25, 2009 6:17am
Yep ... trust the methods ... i know
  • #22,432
  • Feb 25, 2009 6:29am Feb 25, 2009 6:29am
Quoting Scot Pippin'
Can someone further explain this please? It was a bar mentioned in Jim's last video.
You can find some info on Proxy PinBars in the attached document.
Attached File(s)
File Type: pdf Pin Bars - Advanced Material.pdf   113 KB | 724 downloads
  • #22,433
  • Edited 6:52am Feb 25, 2009 6:33am | Edited 6:52am
Quoting Jigsaw
Agreed



Missed that one . . . Boooo !



Sup scot,

I am on the run here so I did by best at a quick doodle .

Somebody better than me like Mbqb11 will probably explain better than I can.

I think this is right anyway heh .

EDIT - As for cable I think it gets a little bit messy around the .43 level
hi jigsaw i'm still beginner i want to ask u about gu and your opinion, would u take it if the candle close like my chart? your beob form and location (look like break that area support) is very good but mine not as good as u, so i finally decide not to take it.
thx.
http://clip2net.com/clip/m11297/1235...-clip-10kb.png
another question just realized about your gu picture i have another ppz in that area, are u not considered it important? because it rather closed to the entry. are u take half profit?
http://clip2net.com/clip/m11297/1235...-clip-16kb.jpg
  • #22,434
  • Feb 25, 2009 6:43am Feb 25, 2009 6:43am
Ok I see, thanks for all replies.
"Whether you think you can or can't, you're right." Henry Ford
  • #22,435
  • Feb 25, 2009 6:57am Feb 25, 2009 6:57am
Is this proper confluence for the pin bar forming on the hourly of the USD/CHF?
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFconfluncepinHourly.jpg Size: 163 KB
  • #22,436
  • Feb 25, 2009 7:20am Feb 25, 2009 7:20am
Hi,

After reading a lot on this forum, I have decided to try my luck on demo.
I have doen today my first gain on GBP/JPY.
Can you tell me if my reading and trade process was "correct"?

On the Daily, I have spotted a strong PPZ around 141.00 (in orange).

Going on the 3H (oanda not having 4H TF), I have spotted a BEOB exactly on the PPZ.
I put a sell order at the lowest of the BEOB with a SL at the highest.

I was in for ~100bps gain.

Did I do good homework?

Cheers
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPJPY Daily.JPG Size: 50 KB
Click to Enlarge Name: GBPJPY 3H.JPG Size: 50 KB
  • #22,437
  • Feb 25, 2009 7:29am Feb 25, 2009 7:29am
Quoting Scot Pippin'
Can someone further explain this please? It was a bar mentioned in Jim's last video.
Nice recent example. See how the close of the pin was NOT within the preceding bar, but within the bar before that.
Hope that helps

RM
Attached Image (click to enlarge)
Click to Enlarge Name: pinbyproxy.gif Size: 17 KB
  • #22,438
  • Feb 25, 2009 7:36am Feb 25, 2009 7:36am
Quoting poplar
hi jigsaw i'm still beginner i want to ask u about gu and your opinion, would u take it if the candle close like my chart? your beob form and location (look like break that area support) is very good but mine not as good as u, so i finally decide not to take it.
thx.
http://clip2net.com/clip/m11297/1235...-clip-10kb.png
another question...
I am just a beginner myself bro.

Yeah I saw it, I . . well i WAS hoping it would hold as resistance) Price might come up and take me out at BE. I have not taken any profit yet. The bears could do me a favour and close this next hourly below .4400

My overall thoughts before I entered the trade was that the area I which price was in now is a stronger area than where price is going to. You could have TP there if you like it's all up to what works for you I guess, I used to hate hearing anyone say that but really it is.

As for the other 4HR close I saw that one too, my thoughts on that one are explained on the chart.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Answer1.jpg Size: 236 KB
Click to Enlarge Name: Answer2.jpg Size: 169 KB
  • #22,439
  • Feb 25, 2009 7:50am Feb 25, 2009 7:50am
Quoting BWise
Is this proper confluence for the pin bar forming on the hourly of the USD/CHF?
Yeah you are drawing them right but I hope you are not shorting that as that really isn't enough reason to be shorting it alone.

Just my opinion, again I am no big cheese at this or anything.

Quoting Lapin
Hi,

After reading a lot on this forum, I have decided to try my luck on demo.
I have doen today my first gain on GBP/JPY.
Can you tell me if my reading and trade process was "correct"?

On the Daily, I have spotted a strong PPZ around 141.00 (in orange).

Going on the 3H (oanda not having 4H TF), I have spotted a BEOB exactly on the PPZ.
I put a sell order at the lowest of the BEOB with a SL at the highest.

I was in for ~100bps gain.

Did I do good homework?

Cheers
Great trade, good "homework" hehe
  • #22,440
  • Feb 25, 2009 8:05am Feb 25, 2009 8:05am
Good stuff Lapin and thanks for the insight Jigsaw
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