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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

  • #26,881
  • Apr 12, 2009 10:27pm Apr 12, 2009 10:27pm
Quoting forexngo
Hello fellows,
I am newbie in this forum and have been trying to catch all thing James teaching here though i just go through the page 44 from the start.
Thank you James for your great, this thread and your generation and experience....
Currently i have questions that hope all experienced bros here will make it clear for me
1. What is the signal that you will assume that the pin bar will coming?
2. I am not sure how can i realize and determine the next trend for the DBLHC, DBHLC, BeOVB, BuOVB...i understand its meaning....but don't know how to realize...
Hey Forexngo,

Welcome to the thread, I think you might be a bit confused in general on what price action is. For example we never assume a pinbar is coming. Instead we are waiting for when one appears, and then interpreting the bar and the situation to determine if it is tradeable. We do this be understanding all of the following patterns you mention in question 2. They are covered many many times once you get through more pages then 44. I know it seems like a monster task but it is the best way to go about learning the material in the proper way.

Here is a post that Josh put together to help localize the process a bit more so check out this post and that should answer many many of your questions in the beginning
http://www.forexfactory.com/showpost...ostcount=23250

Hope that helps
Mike
  • #26,882
  • Apr 12, 2009 10:30pm Apr 12, 2009 10:30pm
Quoting pakiestra
Hi,
I've just spotted kind of a similar "setups" on the fiber related pair EUR/AUD and one on the CAD/CHF pair. The both have quite a thick ceiling above them, not bouncing of any important PPZ. To me an easy pass.
Would you agree ? (would be very grateful for an expert opinion)
Besides the market is very thin and illiquid because of the holiday period, so to me these all setups are very fishy and can't help the feeling that is better to relax and sit on the hands then force to trade (at least till Tuesday comes back with normal volume)....
Excellent Pakiestra!

I LOVE that attitude,
I believe . . .
  • #26,883
  • Apr 12, 2009 11:07pm Apr 12, 2009 11:07pm
Re EUDAUS ... with resistance line (PPZ) from September 2008 dalies, compared to today's price, what is the difference between PA penetrating the PPZ and just touching it? Does PA have to significantly penetrate it which is not the case yet?
WARNING: Don't follow me as I'm just learning
  • #26,884
  • Apr 12, 2009 11:25pm Apr 12, 2009 11:25pm
Quoting mbqb11
Hey Forexngo,

Welcome to the thread, I think you might be a bit confused in general on what price action is....
Thank you mbqb11 for your great reply!
You are right that i am confused in general on Price Action.
The reason i think that there will be a signal for a coming pin bar...since i catch the chart from thruline, page 35...that he stated the signal before the coming pin bar...
Yes, i am really in confusing Double Bar with a higher close on second bar...is it the higher close towards the previous bar close or the second bar itself...?
Is it required two eyes of the pin bar must the same high or low?
By any way, thank you for your help of link for great stuff that i will dig for to explore all the futher knowlegde.
Good luck, mbqb11
forexngo
  • #26,885
  • Apr 12, 2009 11:55pm Apr 12, 2009 11:55pm
Hey guys, just wondering if the previous candle was a pin bar, the one closing on: 05/04/2009 ( I would post a screen shot but I really really hate MS Paint and I cant get it to do what I want... will figure out something tomorrow).

Now I know it is not a A+ Trade, considering I have some daily support(PPZ) at at a range of 99.07 to 98.97 Plus a 50% fib. Since its a bearish PB, I would generally not look at it with the 2 other factors. But I am curious to see how it would do since that PPZ has been used quite a bit in the past few weeks.

Ideas?


PS: I am new to this thread and there is still quite a bit of reading I need to do. I am also very into BRV's thread, between these 2 methods I must say that I like to trade naked. I hate seeing spaghetti all over the screen!
  • #26,886
  • Apr 13, 2009 12:10am Apr 13, 2009 12:10am
I'm new to the James 16 pin bar method, but from what i can see so far, trying to find past set ups, they seem rare.

I can go back, and back for a while on the charts and not find anything that fits the criteriea, which I think is a good thing.

I'm just in the beggining of this thread and technique, I'm looking for the nose and eye set up (about as basic as it gets), and I'm not finding much on the daily and 4hr charts.

I'm looking at Eur/USD, there's probably set ups all over the placxe, i just can't recognize them yet............lol
  • #26,887
  • Apr 13, 2009 12:14am Apr 13, 2009 12:14am
Quoting Concept
Hey guys, just wondering if the previous candle was a pin bar, the one closing on: 05/04/2009 ( I would post a screen shot but I really really hate MS Paint and I cant get it to do what I want... will figure out something tomorrow).

Now I know it is not a A+ Trade, considering I have some daily support(PPZ) at at a range of 99.07 to 98.97 Plus a 50% fib. Since its a bearish PB, I would generally not look at it with the 2 other factors. But I am curious to see how it would do since that PPZ has been used quite a bit in the past few weeks.

Ideas?...
hi Concept,this is a neutral bar on my feed,no trade yet but its a good level to look for GOOD pa.this ppz has long history.
hope this helps
jon
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PATIENCE... DISCIPLINE
  • #26,888
  • Apr 13, 2009 12:26am Apr 13, 2009 12:26am
Quoting trader john
I'm new to the James 16 pin bar method, but from what i can see so far, trying to find past set ups, they seem rare.

I can go back, and back for a while on the charts and not find anything that fits the criteriea, which I think is a good thing.

I'm just in the beggining of this thread and technique, I'm looking for the nose and eye set up (about as basic as it gets), and I'm not finding much on the daily and 4hr charts.

I'm looking at Eur/USD, there's probably set ups all over the placxe, i just can't recognize them yet............lol
they come more often than one would think.often enough to wait for the best
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PATIENCE... DISCIPLINE
  • #26,889
  • Apr 13, 2009 1:32am Apr 13, 2009 1:32am
Quoting g_j_hook@yah
they come more often than one would think.often enough to wait for the best
Great charts Jon!
I believe . . .
  • #26,890
  • Apr 13, 2009 1:37am Apr 13, 2009 1:37am
Quoting trader john
I'm new to the James 16 pin bar method, but from what i can see so far, trying to find past set ups, they seem rare.

I can go back, and back for a while on the charts and not find anything that fits the criteriea, which I think is a good thing.

I'm just in the beggining of this thread and technique, I'm looking for the nose and eye set up (about as basic as it gets), and I'm not finding much on the daily and 4hr charts.

I'm looking at Eur/USD, there's probably set ups all over the placxe, i just can't recognize them yet............lol...
hi John,

You don't need to spot setups everywhere,

If you're not finding ample setups matched with the caliber of those that have been discussed in the early phases of the thread, it's actually a great thing for you...means that you're interpreting things prefectly...

The thing is those setups are very rare, across 27 pairs that I trade I hardly find 2 every month that can be termed A+ Mike and James's way so well done on having to interpret the stuff just the way it's supposed to be...Keep reading
I believe . . .
  • #26,891
  • Apr 13, 2009 8:46am Apr 13, 2009 8:46am
Quoting raczekfx
Are you sure...?
I desperately need to know what everyone thinks before the market opens...... I want to go in big and .....

.... and in the meantime, have a Happy Easter!!!
.
.
.
Knowledge is Power... and with practice you gain your Wings...
.
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  • #26,892
  • Apr 13, 2009 8:51am Apr 13, 2009 8:51am
Hey guys, I am just starting to read through this thread one page at a time. I know there is a lot of useful posts there. But with me if I get stuck on something I gotta know the answer before I can move on or I will stew on it.

Now I know that James talks a lot about PA... with BUOVB AND BEOVB... and then we get the DBLHC AND DBHLC.

Are these the things we are looking for to CONFIRM a PB or are they just other ways to trade like a PB if we have Confluence?

I think I answered my own question, but I just like to be sure. Like I said, if I dont know the answer for sure it will really mess with my mojo.

Thanks!
  • #26,893
  • Edited 9:51am Apr 13, 2009 8:59am | Edited 9:51am
Quoting Concept
Hey guys, I am just starting to read through this thread one page at a time. I know there is a lot of useful posts there. But with me if I get stuck on something I gotta know the answer before I can move on or I will stew on it.

Now I know that James talks a lot about PA... with BUOVB AND BEOVB... and then we get the DBLHC AND DBHLC.

Are these the things we are looking for to CONFIRM a PB or are they just other ways to trade like a PB if we have Confluence?

I think I answered my own question, but I just like to be sure. Like I said, if I dont...
You got it. Each price action bar discussed is a trigger in its own right. Pin Bars are often discussed more because they are more popular but every one of those setups in the right location is tradeable.

Welcome to the thread. Reading through it will advance you more than you can ever imagine.
Good luck.
  • #26,894
  • Apr 13, 2009 10:07am Apr 13, 2009 10:07am
Thanks g j hook@yah!

Nice chart example for me, Do you reccommend finding these on the daily as opposed to the 4hr?
  • #26,895
  • Apr 13, 2009 10:30am Apr 13, 2009 10:30am
Quoting trader john
Thanks g j hook@yah!

Nice chart example for me, Do you reccommend finding these on the daily as opposed to the 4hr?
Absolutly,firstly the longer the time frame the more reliable the signals(as a rule of thumb)secondly it gives you more time to plan and manage the trade.
more time to see mistakes or adapt the plan or have better ideas.Also (mabye more importantly)time gives you the oppertunity to get out of a trade if it doesnt run as expected, and with a good daily set-up this will probably be a MINIMUM of a BE trade, probably a few pips profit (if one chooses the trade wisely)
by the way welcome to the thread
thanx
jon
PATIENCE... DISCIPLINE
  • #26,896
  • Apr 13, 2009 2:12pm Apr 13, 2009 2:12pm
one thing I like about this method is that it can be used to trade futures, which earlier in this thread James used many futures charts as examples.
I hope to start tradeing the ES when I get everything together, this will also help any "day tradeing" urges I have.

I don't mind taking 2 trades a month in forex, that are A+ trades, seems like a good forex plan to me.

I study everything I can, and look at other successful traders methods, and with forex, I don't know how people can be successful in the long run day tradeing forex, I know most can't do it, I'm really not sure if the few exceptions to the rule out here is something even worth striveing for?

If I can do this with success on something like the ES (s & p mini), why not just stick to longer term forex trades.
  • #26,897
  • Apr 13, 2009 3:39pm Apr 13, 2009 3:39pm
some charts
http://s44.radikal.ru/i104/0904/86/da1a31b05704t.jpg
http://s54.radikal.ru/i143/0904/09/db52904c423ct.jpg
  • #26,898
  • Apr 13, 2009 3:53pm Apr 13, 2009 3:53pm
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I'm not getting it. Is it that I'm stoop'd like a wood log, or that it's too obvious for my convoluted mind to understand?

What is a pin bar? A price reversal bar with a big spread between the top(bottom) and the open and close? (ugly illustration above).

Can someone post or PM me a nice pin bar example?

Much obliged.
  • #26,899
  • Apr 13, 2009 3:56pm Apr 13, 2009 3:56pm
Quoting digitil
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I'm not getting it. Is it that I'm stoop'd like a wood log, or that it's too obvious for my convoluted mind to understand?

What is a pin bar? A reversal bar with a big spread between the top(bottom) and the open and close? (ugly illustration above).

Can someone post or PM me a nice pin bar example?

Much obliged.
Hey D

Yeah a pinbar is a reversal bar. The open and close need to be within the previous bar. The open and close should be near the bottom of the bar(if looking to short), and it should have a long nose

Check out these posts

http://www.forexfactory.com/showpost...postcount=3914
http://www.forexfactory.com/showpost...ostcount=19711
http://www.forexfactory.com/showpost...ostcount=14627

Hope that helps
Mike
  • #26,900
  • Apr 13, 2009 3:58pm Apr 13, 2009 3:58pm
YM is easier to trade than the ES imho.

you also get the added benefit of better position sizing with the ym.

jim



Quoting trader john
one thing I like about this method is that it can be used to trade futures, which earlier in this thread James used many futures charts as examples.
I hope to start tradeing the ES when I get everything together, this will also help any "day tradeing" urges I have.

I don't mind taking 2 trades a month in forex, that are A+ trades, seems like a good forex plan to me.

I study everything I can, and look at other successful traders methods, and with forex, I don't know how people can be successful in the long run day tradeing forex, I know most...
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