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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

  • #30,961
  • May 25, 2009 7:14pm May 25, 2009 7:14pm
Quoting Alexandra
uh oh

Toshi - Indeed, well noted. The weekly/daily construction makes me believe we may linger a while up here. Time will tell.
I have found it easier to do your analysis on the TF you are going to trade on, sure zoom out to get the bigger picture, but to be trying to line up all the timeframes will lead to analysis paraylsis. Keep it simple
Economists have forecast 9 out of the last 5 recessions
  • #30,962
  • May 25, 2009 7:16pm May 25, 2009 7:16pm
Quoting markmm
I have found it easier to do your analysis on the TF you are going to trade on, sure zoom out to get the bigger picture, but to be trying to line up all the timeframes will lead to analysis paraylsis. Keep it simple
Easier yes ........

LOL - seriously - if you are "zooming" you should be okay.
  • #30,963
  • May 25, 2009 7:19pm May 25, 2009 7:19pm
Quoting Alexandra
Easier yes ........

Simpler is better. Dont take my word for it, I learnt this from one of the best traders on FF. Jacko, he has a long running thread check it out. Heres the post. http://www.forexfactory.com/showpost...postcount=7064
Economists have forecast 9 out of the last 5 recessions
  • #30,964
  • Edited 7:41pm May 25, 2009 7:22pm | Edited 7:41pm
Quoting 4fun
Just rolled in from the river summers already here in AZ, checkin the charts for those short look at that monthly candle sweet eh!

OMG! Are we sharing a trade? I better re-evaluate! LOL - No, seriously, the E/J target is in the 140's if things hold post-holiday. Yes, that is a stock predication too, apparently.

In all post-Holiday seriousness, that series of charts is would make a good PA synopsis for this thread for anyone who attemps to synthesize longer term timeframes.

I'm not sure I can tolerate another sink through 131 - I am tired of that nonsense, so I hope (Oh Gosh - that word!) that the base is built.
  • #30,965
  • May 25, 2009 7:26pm May 25, 2009 7:26pm
Quoting markmm
Simpler is better. Dont take my word for it, I learnt this from one of the best traders on FF. Jacko, he has a long running thread check it out. Heres the post. http://www.forexfactory.com/showpost...postcount=7064

LOL - Indeed, I may have to check that one out sometime

Stop laughing Hans!
  • #30,966
  • May 25, 2009 7:31pm May 25, 2009 7:31pm
Quoting Alexandra
LOL - Indeed, I may have to check that one out sometime

Stop laughing Hans!
Just kidding, sorry about that!
Economists have forecast 9 out of the last 5 recessions
  • #30,967
  • May 25, 2009 8:38pm May 25, 2009 8:38pm
Please can anyone see an obvious reason that this pinbar failed yesterday?
cheers.
Attached Image
  • #30,968
  • May 25, 2009 8:47pm May 25, 2009 8:47pm
Quoting kk007
Please can anyone see an obvious reason that this pinbar failed yesterday?
cheers.
hey k

If you look to the left of the bar price is very choppy and this pin is not in space. So when we have this especially on the hour timeframe we have traffic. Now the even bigger reason to not take this trade was the major holiday in the US. This is a good time not to trade as most of the action wont be there.

Best
Mike
  • #30,969
  • May 25, 2009 8:49pm May 25, 2009 8:49pm
Quoting kk007
Please can anyone see an obvious reason that this pinbar failed yesterday?
cheers.

Check that timeframe.
  • #30,970
  • May 25, 2009 8:50pm May 25, 2009 8:50pm
Quoting mbqb11
hey k

If you look to the left of the bar price is very choppy and this pin is not in space. So when we have this especially on the hour timeframe we have traffic. Now the even bigger reason to not take this trade was the major holiday in the US. This is a good time not to trade as most of the action wont be there.

Best
Mike
Thanks a lot Mike. Good learning for me. How about this one, just happened.
Attached Image
  • #30,971
  • May 25, 2009 8:51pm May 25, 2009 8:51pm
Quoting lddd
I mean with allready a 500 bucks you live verry verry well in thailand
Not anymore you don't.
Trust me on that one.
"The more I practice, the luckier I get." (Gary Player)
  • #30,972
  • May 25, 2009 8:53pm May 25, 2009 8:53pm
Quoting Alexandra
Check that timeframe.
H1
  • #30,973
  • May 25, 2009 8:57pm May 25, 2009 8:57pm
Quoting kk007
Thanks a lot Mike. Good learning for me. How about this one, just happened.

I think you'd do best to learn about PPZ's (Price Pivot Zones) first, then move onto bar shapes.

But do it on a daily timeframe.
  • #30,974
  • May 25, 2009 9:02pm May 25, 2009 9:02pm
Quoting kk007
Thanks a lot Mike. Good learning for me. How about this one, just happened.
Im in b4 Mike !!!

Annddddd -

Sideways to the left

1HR Timeframe

Bad time to be trading (Asia session)
  • #30,975
  • May 25, 2009 9:02pm May 25, 2009 9:02pm
Quoting Blackinc
I think you'd do best to learn about PPZ's (Price Pivot Zones) first, then move onto bar shapes.

But do it on a daily timeframe.
Yes. Perhaps, a pinbar pierce through important price level is better.
  • #30,976
  • May 25, 2009 9:04pm May 25, 2009 9:04pm
Quoting kk007
Thanks a lot Mike. Good learning for me. How about this one, just happened.
That one didn't fail. It stopped at the first place you would expect.

If it was a daily chart, think of how may pips that move would have gone before it reversed.

On the 1Hr charts etc, be very weary of how much room the trade has to go before entering. And remember you have to take spread into account.
Bundy's status today: "Waiting..."
  • #30,977
  • May 25, 2009 9:04pm May 25, 2009 9:04pm
Quoting Jigsaw
Im in b4 Mike !!!

Annddddd -

Sideways to the left

1HR Timeframe

Bad time to be trading (Asia session)
Thanks Jigsaw. Sorry for all if my question seems too naive.
  • #30,978
  • May 25, 2009 9:04pm May 25, 2009 9:04pm
Quoting kk007
Thanks a lot Mike. Good learning for me. How about this one, just happened.
hey

Again be careful here k. This is what will hurt new traders on these low timeframes. Make sure to read james' first post it is very important. This is a very slow time in the markets. Trading a small pin like that is just not smart IMO. But again it bounced at multiple bars low as expected. But time of day alone should keep you out of this one.

Best
Mike
  • #30,979
  • May 25, 2009 9:06pm May 25, 2009 9:06pm
Quoting kk007
Thanks a lot Mike. Good learning for me. How about this one, just happened.

A look at the daily shows you a long term resistance point there...fade it....but don't be greedy. Better yet, wait for a sale!
  • #30,980
  • May 25, 2009 9:06pm May 25, 2009 9:06pm
Quoting bundyraider
That one didn't fail. It stopped at the first place you would expect.

If it was a daily chart, think of how may pips that move would have gone before it reversed.

On the 1Hr charts etc, be very weary of how much room the trade has to go before entering. And remember you have to take spread into account.
Thanks a lot. Now I understand why people keep saying not to trade H1.
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