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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

  • #33,841
  • Edited 10:26am Jun 18, 2009 10:04am | Edited 10:26am
Swiss 1Hr DBHLC

http://i43.tinypic.com/2yod4e0.gif


Swiss 4Hr DB, now to wait for the 4Hr bar to close......

http://i43.tinypic.com/oka44i.jpg


If the 4hr closes low, is this even close to an A setup?
non si dimentichi mai
  • #33,842
  • Jun 18, 2009 10:28am Jun 18, 2009 10:28am
plus50,
on H1, that is not a DBHLC. the second bar should be closing lower than the low of the first bar. more like a beob, only with similar highs.

also, kindly post smaller charts next time (since your charts are already zoomed in). thanks
  • #33,843
  • Jun 18, 2009 10:36am Jun 18, 2009 10:36am
Quoting rikrok
Any thoughts on this pin
could it develop into a test of the ppz and rebound....
early in the day yet but one to watch...
still early yes but I will check back later on this one
  • #33,844
  • Jun 18, 2009 10:38am Jun 18, 2009 10:38am
Quoting supremeChaos
plus50,
on H1, that is not a DBHLC. the second bar should be closing lower than the low of the first bar. more like a beob, only with similar highs.

also, kindly post smaller charts next time (since your charts are already zoomed in). thanks
Careful here SC, this is not a DBHLC like you said, but also not a BEOB. A beob has to have a lower low. This is simply a BEB type bar, nothing special

Also his chart size are fine to me


Some new posters here today, just a reminder, to read and re-read James16 first post about timeframes. It is very important! James16 knows what he is talking about And of course welcome!

Mike
  • #33,845
  • Jun 18, 2009 10:43am Jun 18, 2009 10:43am
will steer clear of swiss for now
btw, what these acronyms mean : BEOB, BEB & PPZ
non si dimentichi mai
  • #33,846
  • Jun 18, 2009 10:49am Jun 18, 2009 10:49am
Quoting mbqb11
Careful here SC, this is not a DBHLC like you said, but also not a BEOB. A beob has to have a lower low. This is simply a BEB type bar, nothing special

Also his chart size are fine to me


Some new posters here today, just a reminder, to read and re-read James16 first post about timeframes. It is very important! James16 knows what he is talking about And of course welcome!

Mike

Strictly daily charts for me!!! no matter how tempting some of these 4H pins etc look....

Might consider going down a timeframe at Christmas if I have proved myself but I have to ask the question.... are people making a lot of extra pips a month trading on smaller timeframes? surely if your getting a good return on dailys and its safer then just stick to that no?

Well we shall see but like I say daily charts only for the time being...

Fat Tom
  • #33,847
  • Jun 18, 2009 10:56am Jun 18, 2009 10:56am
Need some opinion from the seniors about failed pin bar.
Why this pin bar should not be taken? Its very nice PB, the spot is okey...!?
Or is just the one, when we can say ''this things happen''.

Thanks,

Oh and sorry, if this PB was jet talked about
Attached Image (click to enlarge)
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  • #33,848
  • Jun 18, 2009 10:57am Jun 18, 2009 10:57am
Quoting plus50
will steer clear of swiss for now
btw, what these acronyms mean : BEOB, BEB & PPZ
Hey Plus

You will get used to these as you work through the thread

BEOB = Bearish Outside Bar

BEB = Bearish Bar

PPZ = Price Pivot zone

Check out this AMAZING compilation by Josh that has links for some summaries of each
http://www.forexfactory.com/showpost...ostcount=23250

Again like Josh says, it in no way replaces going through the thread from start

Best of luck and ask questions if you have

Mike
  • #33,849
  • Edited 10:58am Jun 18, 2009 10:57am | Edited 10:58am
Quote
Careful here SC, this is not a DBHLC like you said, but also not a BEOB. A beob has to have a lower low. This is simply a BEB type bar, nothing special
Also his chart size are fine to me
mbqb11,
lol Sir,sorry i got u confused (& probably plus50 too).
what i meant was DBHLC looks like a BEOB, but DBHLC has similar highs.
I did not imply that that H1 $chf bar is a beob.
Thanks for pointing that out Mike. Hope it's clear now.


plus50,
(Mike has already answered your Q about the acronyms)
go search for this throughout the james16 thread. or better yet, re-read from post #1.
also search for the 'price action setups' in .pdf form
  • #33,850
  • Jun 18, 2009 10:59am Jun 18, 2009 10:59am
Quoting fat_tom
Strictly daily charts for me!!! no matter how tempting some of these 4H pins etc look....

Might consider going down a timeframe at Christmas if I have proved myself but I have to ask the question.... are people making a lot of extra pips a month trading on smaller timeframes? surely if your getting a good return on dailys and its safer then just stick to that no?

Well we shall see but like I say daily charts only for the time being...

Fat Tom
Awesome Tom, most just can not shake that need to trade, and won't listen. It takes a few hard smacks on the ass before they realize James knows what he is talking about and then they do it the easier way.

You might never ever want to move to the lower timeframes. Many don't. Nothing wrong with that! The process is that after you can learn to trade the higher timeframes with confidence and consistency. You can then move down to say the 4hr/1hr if that is your desire for more opportunities and put it through the same process that got you to be profitable on the higher timeframes.

Mike
  • #33,851
  • Jun 18, 2009 10:59am Jun 18, 2009 10:59am
The next bar didn't break it, so no trade.

Quoting gasgas
Need some opinion from the seniors about failed pin bar.
Why this pin bar should not be taken? Its very nice PB, the spot is okey...!?
Or is just the one, when we can say ''this things happen''.

Thanks,
  • #33,852
  • Jun 18, 2009 11:01am Jun 18, 2009 11:01am
Quoting Autumm
Hi,
Just wondering why do u have your sellstop so low?
hey autumn,
i normally use 10pips below/above pa setup
my internet seems to be misbehaving.....arghhhh
Simplicity is the key to success
  • #33,853
  • Jun 18, 2009 11:01am Jun 18, 2009 11:01am
Quoting gasgas
Need some opinion from the seniors about failed pin bar.
Why this pin bar should not be taken? Its very nice PB, the spot is okey...!?
Or is just the one, when we can say ''this things happen''.

Thanks,
Hey Gasgas

This is not a failed pin, b/c it was never Validated. For a pin to be validated the high most be broken. For me personally if the next bar doesn't break the high and validate I will cancel my order. Many will leave their orders but once that low is broken before the high, then the pin is not considered valid. So these are things that keep us out of a bad trade. If you are buying on say a retrace, this is part of the negatives and what you have to deal with(buying into a pin that has not yet been validated).

Hope that clears it up
Mike
  • #33,854
  • Jun 18, 2009 11:12am Jun 18, 2009 11:12am
Quoting mbqb11
Hey Gasgas

This is not a failed pin, b/c it was never Validated. For a pin to be validated the high most be broken.

Hope that clears it up
Mike
Yes Mike, that clear things up very good. Was not sure about the break. I learn a lot from you guys.

Tnx, and happy pippin.
  • #33,855
  • Jun 18, 2009 11:17am Jun 18, 2009 11:17am
Quoting fat_tom
Strictly daily charts for me!!! no matter how tempting some of these 4H pins etc look....

Might consider going down a timeframe at Christmas if I have proved myself but I have to ask the question.... are people making a lot of extra pips a month trading on smaller timeframes? surely if your getting a good return on dailys and its safer then just stick to that no?

Well we shall see but like I say daily charts only for the time being...

Fat Tom
That's the spirit tom, and IMO the most correct path to take it, step by step, and I can assure you mike's mentoring will be one of the most valuable nugget you can find here in J16 thread, both technically, learning curve wise, and psychologically, there's a reason they made him the J16 Beginner Tutor, it's his unique quality of deeply understanding, and the most sincere way to write down the most easily interpretable information for us as newbies in this business.

When I write that about mike... I start to think about Aaron (TiaForex), too, how odd...

Best.

Marcel.
  • #33,856
  • Jun 18, 2009 11:31am Jun 18, 2009 11:31am
Quoting raczekfx
.
nice. I missed that one.
"Don't trade to trade . . . trade to win." - James16
  • #33,857
  • Jun 18, 2009 11:43am Jun 18, 2009 11:43am
Quoting raczekfx
I'm glad you find them (charts) useful, Angel


missed my limit by 4 or 5 pips last night. I have moved it a bit higher since.


yes, these are just intra-day plays until we move out of consolidation zones.
Lunch will come when cable hits 1.57 and fiber 1.34 or 1.30. The day will come, even though US wants its $$ cheap....

You just can't stop certain European banks from falling...
What's happening in Latvia right now is just a beginning imho...
Yep. US and Asian sessions keep bidding cable up and London session sees it get knocked down again and again . . . lot of opportunities this week selling it around the 61 fib . . .
"Don't trade to trade . . . trade to win." - James16
  • #33,858
  • Jun 18, 2009 11:50am Jun 18, 2009 11:50am
Quoting squeezy
jst saw ur post jarroo
heres mine
im worried bout the ppz just below, but it has space .... imo
seems u dont hav dis ppz on urs....comments j
i think she shld break well enuff, are you in usdcad ....jst got triggered
Hey squeezy. My PPZs seem to match yours just fine.

The green area on the 4 hour Eur/Gbp PB is a target. Taking some off the table here is a good decsion. Price is runnnig through it, so any sign of pull back and the 1st half is banked. We could be heading for .8500.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #33,859
  • Jun 18, 2009 11:59am Jun 18, 2009 11:59am
Quoting TotalNewbie
Looks like you picked another winner! I passed on this because it isn't technically a pinbar (close higher than open). It just goes to show that it doesn't have to be a technically perfect bar so long as the location is correct. Thanks for posting this chart, I feel I have learned from it.
No, it's technically Pin Bar TN. The open and close are within the previous bar. Having a close lower then the open is preferred on a bearish PB, but not a game stopper.
Indicators show the past. Price Action "Indicates" the future.
  • #33,860
  • Jun 18, 2009 12:02pm Jun 18, 2009 12:02pm
Just had my first major H4 success. SL locked in behind 61.8% fib.
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