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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

  • #25,481
  • Mar 31, 2009 5:20am Mar 31, 2009 5:20am
Quoting advfntrader
so the weekly pin on EUR/JPY has retraced a bit. is this still a valid short hoping for the lows to be tested again ?
I think EURJPY weekly PIN already reached first TP, how did you manage the trade?
CHFJPY weekly PIN is similar but haven't reached first PPZ that I have at 82 area. It's at 50% ret now. I was looking to add same short position on nice looking H1 PIN at this level, unfortunately it hasn't triggered.
alter
  • #25,482
  • Mar 31, 2009 5:21am Mar 31, 2009 5:21am
Quoting aorafx
Hi all,
I read this thread regularly since I trade ( 1m... ) and think that there is absolutely great information to be found.

I was looking now at EURUSD 1H. There is a pin bar. If anyone with experience would like to comment as to wether this would look like a good probability set-up for a short, I would be grateful.

I would read it as closed below resistance, and there is room to the downside.
I would see the resistance zone from 1.3280 to 1.3330

Best,
AO
Hey there,

(Not that I am awesome or anything)

My thoughts on this one are on the chart.

The nose length is an instant rule out anyway so . . The other stuff never really came into it.

Regards
Jig

Quoting MPP
Wassup Mike, like the new wheels was this another drive by pip hunt.

Attachment
LOL !

He's ice cold. .
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd1hr.jpg Size: 209 KB
  • #25,483
  • Edited 5:33am Mar 31, 2009 5:22am | Edited 5:33am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting ghous
Here's another one I was watching keenly...
I don't have this pair so can't look at it for sup/res and direction - won't be trading this. but i would like to understand the method for trading the IB

it looks like it close to support so would you be looking to play this long if it breaks?



Ok i think i see it now 2 bar low of the swing low at area of support - maybe
  • #25,484
  • Mar 31, 2009 5:22am Mar 31, 2009 5:22am
Quoting ghous
Hi AO,

I would'nt even bother with pins like these, look at it's size relative to the bar beside it. You want the Pin to shout at you so you don't dare miss it, the ones with the perfect shape instantly tell you what to do next...

Secondly you probably missed the minor ppz at 1326, look what price did off it.

Regards,
Ghous.
Damnit Ghous in before me

EDIT - Nice trade on the GBPAUD Ghous
  • #25,485
  • Mar 31, 2009 5:30am Mar 31, 2009 5:30am
Quoting Jigsaw
Damnit Ghous in before me

EDIT - Nice trade on the GBPAUD Ghous
NA, NA!

I was watching that keenly....

I don't intend to trade this puppy PA setup just yet,

It's one solid PA trigger I'll be adding to my trigger spectrum soon, for now I am enjoying it from the sidelines...

Cheers!

Regards,
Ghous.
I believe . . .
  • #25,486
  • Mar 31, 2009 5:41am Mar 31, 2009 5:41am
Quoting MPP
I don't have this pair so can't look at it for sup/res and direction - won't be trading this. but i would like to understand the method for trading the IB

it looks like it close to support so would you be looking to play this long if it breaks?



Ok i think i see it now 2 bar low of the swing low at area of support - maybe
Hey MPP,

Sure Ghous will come back to you on this one. Think this is an experimental PA setup that he has been playing around with. A kind of upside down Pin Bar or hanging man as some others have called it.

There are a couple of recent posts in this thread on it.

Cheers
MM
  • #25,487
  • Mar 31, 2009 5:44am Mar 31, 2009 5:44am
to Jigsaw and Ghous:
Thanks for explanation of current situation on eurusd.
i have lose 15pips on it and wanted to now why. :-)
have one quastion: that BUOB mean?
  • #25,488
  • Mar 31, 2009 5:45am Mar 31, 2009 5:45am
Hi Ghous, Jigsaw,

thank you for the analysis. Much appreciated.

Best,
AO
  • #25,489
  • Mar 31, 2009 5:50am Mar 31, 2009 5:50am
Quoting Jdl500
to Jigsaw and Ghous:
Thanks for explanation of current situation on eurusd.
i have lose 15pips on it and wanted to now why. :-)
have one quastion: that BUOB mean?
Hey,

No problem.

BUOB = BUllish Outside Bar

Start at page one and try and read the whole thread, I think reading the whole thread is a type of . . . natural experience where you can grow as the thread itself grew over time.

Regards,
Jig
  • #25,490
  • Mar 31, 2009 5:59am Mar 31, 2009 5:59am
The GBP/USD pinbar is not a pinbar in my charts according to Pinbar Criteria

http://www.forexfactory.com/showpost...ostcount=20270

Open is below Friday's close. My data is 5:00pmEST to 5:00pmEST...so no Sunday bars.

Good luck for those who took it. Looks like it might be giving you a chance to move to B/E at least.

Josh
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 033009_day.GIF Size: 55 KB
  • #25,491
  • Mar 31, 2009 6:01am Mar 31, 2009 6:01am
Quoting MPP
I don't have this pair so can't look at it for sup/res and direction - won't be trading this. but i would like to understand the method for trading the IB

it looks like it close to support so would you be looking to play this long if it breaks?

Ok i think i see it now 2 bar low of the swing low at area of support - maybe
Hey MPP,

If I may ever be so bold as to answer Ghous's question.

It's not a typical J16 setup but more of a bar Ghous has been testing out of late. It's a . . .

PA = "hanging man" (Looks like a Upside down pin)

Location = at a swing low, off of a round number.

SL = behind the round number

TP = at the next PPZ.

At least thats what I would guess Ghous was thinking

Regards
Jig
  • #25,492
  • Mar 31, 2009 6:07am Mar 31, 2009 6:07am
Hey guys, do any of you view markets as diagonally or horizontally?

To put it simply, I am more comfortable in reading prices with horizontal S/R and PPZ rather than drawing trendlines or watching moving averages.

A chart example would be :

Clockwork's charts are eye-candies for me, while SeekingLight's charts are just too overwhelming for me.

Is it just me and lack of practice or just about anyone feels like this or the other way around (trendlines more comfortable than horizontal S/R).

I feel like I live in a very dull world as it is maybe I'm just a slow learner, or lazy... now that's a thought lol.
  • #25,493
  • Mar 31, 2009 6:13am Mar 31, 2009 6:13am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Jigsaw
Hey MPP,

If I may ever be so bold as to answer Ghous's question.

It's not a typical J16 setup but more of a bar Ghous has been testing out of late. It's a . . .

PA = "hanging man" (Looks like a Upside down pin)

Location = at a swing low, off of a round number.

SL = behind the round number

TP = at the next PPZ.

At least thats what I would guess Ghous was thinking

Regards
Jig
thanks for the reply, if i'm right it's similar to an inverted hammer from a candle stick point of view, a reversal signal of a swing low.

working on pins and OB's for now so i'll catch that later

cheers

MPP
  • #25,494
  • Mar 31, 2009 6:19am Mar 31, 2009 6:19am
possible H & S forming on the 4h NZD/USD...
  • #25,495
  • Mar 31, 2009 6:21am Mar 31, 2009 6:21am
I missed the EURJPY weekly pin break and was hoping to get in on retrace- which we now have. I presume the weekly pin is still valid until top of pin is broken so perhaps getting on 4hr timeframe at 50% retrace is good idea ? anyone still holding short ?


Quoting alter
I think EURJPY weekly PIN already reached first TP, how did you manage the trade?
CHFJPY weekly PIN is similar but haven't reached first PPZ that I have at 82 area. It's at 50% ret now. I was looking to add same short position on nice looking H1 PIN at this level, unfortunately it hasn't triggered.
alter
  • #25,496
  • Mar 31, 2009 6:22am Mar 31, 2009 6:22am
Quoting marcelnyo
Hey guys, do any of you view markets as diagonally or horizontally?

To put it simply, I am more comfortable in reading prices with horizontal S/R and PPZ rather than drawing trendlines or watching moving averages.

A chart example would be :

Clockwork's charts are eye-candies for me, while SeekingLight's charts are just too overwhelming for me.

Is it just me and lack of practice or just about anyone feels like this or the other way around (trendlines more comfortable than horizontal S/R).

I feel like I live in a very dull world as it is maybe...
Keep it simple. Horizontal support is clear and concise unlike trend lines which can be very subjective. I have just recently begun to use trend lines but they must be clear and obvious and I only use them when in confluence with other key areas.
  • #25,497
  • Mar 31, 2009 6:22am Mar 31, 2009 6:22am
Quoting Jduester
The GBP/USD pinbar is not a pinbar in my charts according to Pinbar Criteria

http://www.forexfactory.com/showpost...ostcount=20270

Open is below Friday's close. My data is 5:00pmEST to 5:00pmEST...so no Sunday bars.

Good luck for those who took it. Looks like it might be giving you a chance to move to B/E at least.

Josh
Agreed on this,

I personally did not like the location of this one.

Looks good now though with a GBP BUOB vs. Everything else on 1HR and GBP holding the relative strength advantage vs. the Dollar at the moment.

Quoting marcelnyo
Hey guys, do any of you view markets as diagonally or horizontally?

To put it simply, I am more comfortable in reading prices with horizontal S/R and PPZ rather than drawing trendlines or watching moving averages.

A chart example would be :

Clockwork's charts are eye-candies for me, while SeekingLight's charts are just too overwhelming for me.

Is it just me and lack of practice or just about anyone feels like this or the other way around (trendlines more comfortable than horizontal S/R).

I feel like I live in a very dull world as...
Lol I am with you on that,

I am a horizontal line only trader, but I do draw trendlines sometimes (But I only ever use them to "establish the trend" in my mind, any bounces off of the trendline or whatever are just random in jigsaws world )

I used to trade with the EMA's but I found that it lead me into overtrading.

As well as that I used to have LOADS and i mean LOADS of PPZ (Monthly, Weekly, Daily, 4Hr . . all in different colors)

What I found there was that I had so much stuff on my chart . . That I mean price would randomly bounce and I would be determined it was because of some obscure ppz I had not looked at before. . .

Now I just keep the PPZ to a minimum - try and pick the best ones and go from there.

Quoting MPP
thanks for the reply, if i'm right it's similar to an inverted hammer from a candle stick point of view, a reversal signal of a swing low.

working on pins and OB's for now so i'll catch that later

cheers

MPP
Inverted hammer - that sounds correct !

Lol yeah I am not even sure of the proper Candlestick name at it

A simple mind like myself would not be up to trading that new fancy PA that Ghous is talking about, I just stick to the pins and OB's myself(Simple minds like mine enjoy simple things )
  • #25,498
  • Mar 31, 2009 6:32am Mar 31, 2009 6:32am
Quoting advfntrader
I missed the EURJPY weekly pin break and was hoping to get in on retrace- which we now have. I presume the weekly pin is still valid until top of pin is broken so perhaps getting on 4hr timeframe at 50% retrace is good idea ? anyone still holding short ?
Hi there,
I'm still a newbie on this so please take this with some dashes of salt.

IMHO, I think when you've missed the initial entry on a pinbar like EURJPY, you've missed the trade, and it's better if you wait for another A trade setup rather than trying to seek a re-entry off a smaller timeframe, for me it's like chasing a trade right after it serves it's momentum (like jaroo said).

Sure a bounce of the low of the EJ pinbar might be only a retrace and price might go even lower than the lower point, but to hope for that and hop to the H4 TF is like developing a bad habit, for a newbie like me, I think it's far more better to stay in my plan which is trading dailies and weeklies, and not beating up yourself if you've missed the initial entry, psychologically it's damaging to your trading in the long run.

I'm no senior, so please consider my thoughts lightly.

Cheers.

Marcel
  • #25,499
  • Mar 31, 2009 6:34am Mar 31, 2009 6:34am
I have been following this thread about ½ year now and demo trading as much as I can but I'm so busy with my real work that I miss lot of setups.
Well just trying to learn, no rush here.

I think that my entries are getting bit better but I have a problem with exists. My RR ratio is always very poor, not even 1:1 because a pin bar on daily is usually quite long and I put my TP to first area of trouble which most of time is very near of the pinbar break.

For example, today I took GBPUSD daily pin long and my TP is 1.4390, SL is 1.4108 and entry 1.4306 and my plan was to move BE when price reaches December lows around 1.4349. Any comments? This would have almost 1:1 RR if I don't close half when I move BE.
  • #25,500
  • Mar 31, 2009 6:37am Mar 31, 2009 6:37am
Guys

Just taking a quick peep at what y'all are up to.......I am working my way thru entire thread, some 25,000 posts, for 2nd time. Phew! Determined to come back better and stronger than before.....now truly believe that it is mastery of self which is most important in trading, something which has to be worked on! Anyway, looking forward to joining all of you FX luminaries in a couple of weeks when I finish the thread! Again! Many pips to you all,

berti
PA is where its at!!
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