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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

  • #27,141
  • Apr 16, 2009 3:28am Apr 16, 2009 3:28am
Quoting Schneeule
Thanks for advice,
I will do my best

Yep anytime...we are all here to learn
  • #27,142
  • Apr 16, 2009 3:29am Apr 16, 2009 3:29am
Quoting Schneeule
Hi,
this one was a a+ pin I cought few hours ago.
I am looking for 1.475 if it gets there.

This thread is gold.
Probably good divergence there as well mate.
Bundy's status today: "Waiting..."
  • #27,143
  • Apr 16, 2009 3:30am Apr 16, 2009 3:30am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
nice 4h pin
had to look to the monthly chart to see what caused it and found a long term res point, PPZ is around 1.24 so it has some room and good space around it.

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  • #27,144
  • Apr 16, 2009 3:32am Apr 16, 2009 3:32am
Quoting MPP
nice 4h pin
had to look to the monthly chart to see what caused it and found a long term res point, PPZ is around 1.24 so it has some room and good space around it.

Attachment
To much body in my opinion mate ...pluss its counter trending that timeframe at the moment with not a perfect pin...
  • #27,145
  • Apr 16, 2009 3:36am Apr 16, 2009 3:36am
Quoting KissFan
I will initiate a short position at 1.8331. This is between the 50% and 61.8% fib levels on a retrace of this bar. My stop loss will be 1.8431. This trade will risk 2% of my account balance. I consider this a moderately conservative entry as a more conservative approach would require me to babysit the smaller tf's at this level for a better trade execution price. Of course this is all a moot discussion if the price breaks this bar and heads on down. I will not be chasing it. My first Tp will be 1.8231 which happens to be right dead center of the...
First TP hit and 2nd position on trade has been moved to BE. Hopefully this trade will continue to play out for some additional $ to the account.
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  • #27,146
  • Apr 16, 2009 3:43am Apr 16, 2009 3:43am
Quoting MPP
nice 4h pin
had to look to the monthly chart to see what caused it and found a long term res point, PPZ is around 1.24 so it has some room and good space around it.

Attachment
Hey,

Is it not a BEOB by definition ?

I would have wanted more body, if the body closed below the previous bar I would have shorted it. It's around the .61 Fib too . .

Probably a no trade for me as it stands but thats jus' my thinking on it .
  • #27,147
  • Apr 16, 2009 3:44am Apr 16, 2009 3:44am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Shermenator
To much body in my opinion mate ...pluss its counter trending that timeframe at the moment with not a perfect pin...
totally agree about the trend, but higher TF need to retrace at some point and this is as good a location as any, the top of the pin (i see your point about the body shape) came straight of the res point, so this could go either way in my (but then again so can all charts, so my views has little weight LOL) at the current time it looks like the market wants to break this Res point which would invalidate the pin anyway

Ill watch the body shape a little closer also
  • #27,148
  • Apr 16, 2009 3:48am Apr 16, 2009 3:48am
Quoting KissFan
First TP hit and 2nd position on trade has been moved to BE. Hopefully this trade will continue to play out for some additional $ to the account.
Wow strong entry
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  • #27,149
  • Apr 16, 2009 3:50am Apr 16, 2009 3:50am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Jigsaw
Hey,

Is it not a BEOB by definition ?

I would have wanted more body, if the body closed below the previous bar I would have shorted it. It's around the .61 Fib too . .

Probably a no trade for me as it stands but thats jus' my thinking on it .
not enough body, to much body - gees you lot make up your mind.

I don't think it has enough body to qualify as a BEOB, but by position over the previous IB it has the bases for one, overall both bars are bearish, but neither are A trades, lets see what the next few hours bring, DBHLC would give us a strong hand to play, not sure what other bars we could add for a full house LOL
  • #27,150
  • Apr 16, 2009 4:04am Apr 16, 2009 4:04am
It was a BEOB by J16 Definition - J16s def -

BEOB: Bearish outside bar - this is a bar where the low is lower than the
previous bars low and higher than the previous
bars high. Preferably the close will be in the bottom
third to quarter of the bar. The lower the better.

It's not a pin but I see what you are saying with the Pinnish look. I also agree with you that this location is as good as any for this one to turn around in.

Next 1HR bar to close under 1.2580 for a 12HR pin bar ?
  • #27,151
  • Apr 16, 2009 4:06am Apr 16, 2009 4:06am
Will be looking for price action if price dips a bitt more...
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  • #27,152
  • Apr 16, 2009 4:06am Apr 16, 2009 4:06am
Quoting Jigsaw
I do not know whats up with the thing along the bottem J, but this is what I do to figure out the open/close, In Metatrader I have no use for the High/Close in ways because I just click on the crosshair and drag and that does it for me to get the size of bars.

You might already know about this but heres a few pics detailing it.

EDIT - If you have a scrolly wheel thingy on your mouse then it pops up the crosshair automatically
I did not know how to do those things before! Thanks Jig.

Josh
  • #27,153
  • Apr 16, 2009 4:10am Apr 16, 2009 4:10am
Quoting albchr
Hey Josh,

Something you can try if you haven't already. Try turning your status bar off and back on again. On the menu, View/Status bar. First click should turn it off (No check mark), second click back on again (Check mark).

For the "pop up box" while hovering over bars with your cursor, You have to hover over the "close" of the bar for past bars and the current price for open session bars.

Hope that helps.
Chris,
THis is a HUGE help. I thought the pop up box was just random... now it makes perfect sense. Good tips from you and Jig.

Josh
  • #27,154
  • Apr 16, 2009 4:11am Apr 16, 2009 4:11am
Quoting Jigsaw
Wow strong entry
Thanks Jigsaw. Gotta admit that sometimes there is luck involved with these entries. I placed the entry right before bed and went to sleep. Woke up this morning to find that my order was executed, price climbed 9 more pips and then reversed in my favor. Free trade now.

K.I.S.S.
  • #27,155
  • Apr 16, 2009 4:17am Apr 16, 2009 4:17am
Quoting Jduester
Chris,
THis is a HUGE help. I thought the pop up box was just random... now it makes perfect sense. Good tips from you and Jig.

Josh
Glad I could help in some small way Josh..

Most software I know inside out very quickly. Trading?...Man I have a LOT to learn and you've helped SO MUCH with that.

If only learning to trade was as easy as learning the software. I'd be rich already...LOL
Ghost Rider - WWTBMD?
  • #27,156
  • Apr 16, 2009 4:25am Apr 16, 2009 4:25am
Quoting KissFan
First TP hit and 2nd position on trade has been moved to BE. Hopefully this trade will continue to play out for some additional $ to the account.
This trade's 2nd position has been stopped out at BE. Total profit 100 pips.
  • #27,157
  • Apr 16, 2009 4:34am Apr 16, 2009 4:34am
Quoting Jigsaw
This 1.15 PPZ is the gift that just keeps on giving
This level is a hjooooooooge PPZ, there will be fireworks here, 4HR pinbar ?
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  • #27,158
  • Apr 16, 2009 4:41am Apr 16, 2009 4:41am
Quoting Jigsaw
This level is a hjooooooooge PPZ, there will be fireworks here, 4HR pinbar ?
Looks good to me... how are you planning to play this one?
  • #27,159
  • Apr 16, 2009 4:45am Apr 16, 2009 4:45am
Is creating a great pin bar...But wont take simply because of the current market structure....even if it turns out to be the most beautiful pin I would not take it...

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  • #27,160
  • Apr 16, 2009 4:47am Apr 16, 2009 4:47am
Quoting mseaz9
Looks good to me... how are you planning to play this one?
Wait for PA of course

Quoting Shermenator
Is creating a great pin bar...But wont take simply because of the current market structure....even if it turns out to be the most beautiful pin I would not take it...
Expound about the current market structure please.
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