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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

  • #31,861
  • Jun 1, 2009 9:42pm Jun 1, 2009 9:42pm
Quoting KissFan
I will trade long at the break of this pin on AUDNZD. First TP and move rest to BE @ 1.2593. Second TP anticipated around the 1.2721 area but I will watch PA for that decision.

K.I.S.S.
i missed this one, nice call.
eu/nz looks interesting also imo
jon
PATIENCE... DISCIPLINE
  • #31,862
  • Jun 1, 2009 10:00pm Jun 1, 2009 10:00pm
Quoting g_j_hook@yah
i missed this one, nice call.
eu/nz looks interesting also imo
jon
You haven't missed the train yet Hook! Let's see if she breaks. I'm goin' to bed.

K.I.S.S.
  • #31,863
  • Jun 1, 2009 10:11pm Jun 1, 2009 10:11pm
Quoting Lou
Hey Tia,
When you mention 'a great location' above are you referring to support from back in Aug/Sept of last year? Also fairly close to a round number at 1.0800. Do you see anything else?
That's what I was referring to Lou. Old resistance, not just in the period you mention but further back too. Not really looking at that round number so much as UCAD has been ploughing through everything so far on its way down.

I can't post charts at the moment but this post has a great chart that showed why I think it's a good location. I just wish the nose was much longer.

http://www.forexfactory.com/showpost...ostcount=31804
  • #31,864
  • Jun 1, 2009 10:51pm Jun 1, 2009 10:51pm
Quoting TiaForex
That's what I was referring to Lou. Old resistance, not just in the period you mention but further back too. Not really looking at that round number so much as UCAD has been ploughing through everything so far on its way down.

I can't post charts at the moment but this post has a great chart that showed why I think it's a good location. I just wish the nose was much longer.

http://www.forexfactory.com/showpost...ostcount=31804
I pulled up the U/CAD daily on the big O (oanda) and notice that although price was in a hurry to get to the basement, there were some pullbacks and stalling in zones near these levels... 2200, 2000, 1500, 1100 and now around 0800. For all of the previous 00 levels, price broke through and went to the next. So this can beg the question ....one that I wonder about....when does old resistance become outdated?
  • #31,865
  • Jun 1, 2009 11:48pm Jun 1, 2009 11:48pm
Heres a sort of pinbar I just saw. I didnt take it though because I havent traded many. I've seen much better ones before and this didnt seem worth the risk to me.

But, was I wrong? Does this look like a trade anyone else would have taken?

My reasons for avoiding it were:

A: Its not exactly reacting to the S/R levels as close as I'd like it to. I would rather it be testing a level than just reaching for it.

B: Its off of a tiny swing, I would rather the pinbar be on a lower low.

C: Its just looks messy to me.

Any other input?
Attached Image (click to enlarge)
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  • #31,866
  • Jun 1, 2009 11:54pm Jun 1, 2009 11:54pm
Quoting Delfino
Heres a sort of pinbar I just saw. I didnt take it though because I havent traded many. I've seen much better ones before and this didnt seem worth the risk to me.

But, was I wrong? Does this look like a trade anyone else would have taken?

My reasons for avoiding it were:

A: Its not exactly reacting to the S/R levels as close as I'd like it to. I would rather it be testing a level than just reaching for it.

B: Its off of a tiny swing, I would rather the pinbar be on a lower low.

C: Its just looks messy to me.

Any other input?
If I'm looking at the right bar, the bar before the current, it is a bullish outside bar. The high and low exceed the high and low of the previous bar.

The open and close need to be within the previous bar. For a bullish pin bar the high needs to be within the previous bar as well, hope I said that right.
  • #31,867
  • Jun 1, 2009 11:57pm Jun 1, 2009 11:57pm
Quoting Denarii
If I'm looking at the right bar, the second to last, it is a bullish outside bar. The high and low exceed the high and low of the previous bar.

The open and close need to be within the previous bar. For a bullish pin bar the high needs to be within the previous bar as well, hope I said that right.
Thanks, looking at my price action clipboard now. Didnt catch it as a bullish outside bar, I always thought the real bodies of the candle needed to be the ones engulfing each other.
  • #31,868
  • Jun 2, 2009 12:02am Jun 2, 2009 12:02am
Quoting Delfino
Thanks, looking at my price action clipboard now. Didnt catch it as a bullish outside bar, I always thought the real bodies of the candle needed to be the ones engulfing each other.
Some people do only consider them outside bars if the body does the engulfing. That would certainly make them more convincing outside bars.
  • #31,869
  • Jun 2, 2009 12:11am Jun 2, 2009 12:11am
Quoting james16
where is your farm jay?
Hi, Jim. Thanks for the greeting.

Fabulous thread you have here. I was schooled in the classics, and this thread should be added to the list near Adam Smith's “The Wealth of Nations.” My goodness . . . this information is superb!

I'm not sure how much to write. I'd hate to dismember the body-flow of the thread.

My wife and I own and operate two farms. One is located in southeastern Idaho, near a small town called Malad. (The closest metropolis is Salt Lake City, UT, which is about 90 minutes away.) The other is in Canada near the town of Athabasca. (Edmonton, AB is the closest city to Athabasca.) The two locations are quite far apart in distance; so we have an individual managing our Canadian operation when we cannot make it up there.

-Jay
  • #31,870
  • Jun 2, 2009 12:20am Jun 2, 2009 12:20am
Attached Image (click to enlarge)
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Like the location a lot, good monthly PPZ and fibs. Some divergence, and room to move. Any thoughts?
  • #31,871
  • Jun 2, 2009 1:42am Jun 2, 2009 1:42am
Quoting james16
this post is a great example of why this thread remains great.

we all have "bad days" and that surely includes me.

those of us that reach a realization that bad days are actually gifts in disguise designed to give us an OPPURTUNITY to improve ourselves, our lives and surmount life long barriers are both rare and truly blessed

that kind of insight when it comes is not given it is earned.
Thanks Jim,
I imagine there will be lots of barriers in this business, to learn to see them as opportunity is surely one of the keys to getting to the end of the marathon. This place is a safe haven for new traders like me.

Kind Regards

Mark
Economists have forecast 9 out of the last 5 recessions
  • #31,872
  • Jun 2, 2009 1:45am Jun 2, 2009 1:45am
Quoting fxdanny4x
I will be keeping an eye on this one this week, looking for a nice pinbar to go long off.

The chart speaks for itself:

Buy off a pinbar.. look to take profit around 1.1500
Attachment
I took this one, lets see how it plays out...

I may look to take 1/2 off @ 1.1100 depending on PA
  • #31,873
  • Jun 2, 2009 1:48am Jun 2, 2009 1:48am
Quoting Jlr
Attachment

Like the location a lot, good monthly PPZ and fibs. Some divergence, and room to move. Any thoughts?
Flagged this one up at the bottom of page 2121.
Entry order in place, now waiting for a retrace.
  • #31,874
  • Jun 2, 2009 1:53am Jun 2, 2009 1:53am
Quoting Jlr
Attachment

Like the location a lot, good monthly PPZ and fibs. Some divergence, and room to move. Any thoughts?
The setup looks good to me!
Just 1 more thing to add, the Pin bouncing back from 365 EMA on Daily tf
can be worth trading on the break, but anyway must look forword to oil!

ALM
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #31,875
  • Jun 2, 2009 2:20am Jun 2, 2009 2:20am
Quoting Almfx
The setup looks good to me!
Just 1 more thing to add, the Pin bouncing back from 365 EMA on Daily tf
can be worth trading on the break, but anyway must look forword to oil!

ALM
Was right on my chart, and didn't even notice, thanks. Should be interesting to see which fairs better between U/CAD, and CAD/CHF. U/C has more space, perhaps an even better location, but is more of a counter trade. CAD/CHF has a far better looking bar, less room to run, and seems to trading tightly in a wedge. Think I'm leaning towards U/C, should be interesting though.
  • #31,876
  • Jun 2, 2009 3:20am Jun 2, 2009 3:20am
Will wait for price to make a retacement back into the back of the trendline...I will then seek price action and sell it back to the 4050 area if price agrees


Attached Image (click to enlarge)
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  • #31,877
  • Jun 2, 2009 3:56am Jun 2, 2009 3:56am
Hellol fine people of james 16. Hope ur all doing good. Im flat on GJ now. Enjoy urselves
  • #31,878
  • Jun 2, 2009 4:02am Jun 2, 2009 4:02am
  •  kean
  • | Joined Sep 2008 | Status: James16group Lifetime Member | 92 Posts
Quoting Jlr
Attachment

Like the location a lot, good monthly PPZ and fibs. Some divergence, and room to move. Any thoughts?
Hi, I noticed this pinbar along with the USD/CAD. I like it's location (swing high) and the fact that it is coming off the 365 EMA. I think that the bar shape (length of nose) with the CAD/CHF is much better and so I took this trade. I am looking to get my stop to break even at about +50, around the level of recent bar lows. I decided against the USD/CAD trade due to the length of the nose... I took a loss last week on GBP/USD which had a pinbar with a smallish nose...and learnt a valuable lesson.
Attached Image (click to enlarge)
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  • #31,879
  • Jun 2, 2009 4:16am Jun 2, 2009 4:16am
Interested to hear thoughts on this daily pin on EU - the ppz i have drawn is from looking at the monthly and is in vicinity of 50% fib.

Be particularly interested to hear jaroo/mikes/other views on the location.
Attached Image (click to enlarge)
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  • #31,880
  • Jun 2, 2009 4:20am Jun 2, 2009 4:20am
Quoting pipmyride
Interested to hear thoughts on this daily pin on EU - the ppz i have drawn is from looking at the monthly and is in vicinity of 50% fib.

Be particularly interested to hear jaroo/mikes/other views on the location.
Do you have space right below?
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