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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

  • #34,441
  • Jun 23, 2009 9:55am Jun 23, 2009 9:55am
Quoting teodosy87
was this a good pinbar and good trade ?
For it to be a pin bar the close had to be within the previous bar. SO by definition it is NOT a pin bar.

EDIT: Even if it had been a pin bar, it was not an A+ trade because of the sideways action. It might have been tradable if the nose was reallylong, long enough to protrude away from the vicinity of traffic. In fact that's the best way to be trading in a ranging market following this methodology.

But I am glad it worked out for you.
I believe . . .
  • #34,442
  • Jun 23, 2009 9:56am Jun 23, 2009 9:56am
Quoting ghous
For it to be a pin bar the close had to be within the previous bar. SO by definition it is NOT a pin bar.
Thanks
  • #34,443
  • Edited 10:09am Jun 23, 2009 9:59am | Edited 10:09am
Was a blind entry? yes.
I use the ema's like confluence and other stuffs. Look how the EMA60 touch exactly fib 50 level.. The PPZ wasn't clean, a little difficult in this case that's why I put my stoploss above 61.8 level. You have to built confidence with this style, because this could be an account-killer


Quoting squeezy
quick question ikki & 4fun,
was dis a blind entry cos i also saw the same thing on gj,ej & nu but didnt see reasonable pa to short but still knew it wld still drop like a rock, did u set a sell limit or based on pa on a lower tf(didnt see anything on the daily apart from IB ...i think) ....thnx
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What does not kill me makes me stronger. Friedrich Nietzsche,
  • #34,444
  • Jun 23, 2009 10:08am Jun 23, 2009 10:08am
Quoting squeezy
quick question ikki & 4fun,
was dis a blind entry cos i also saw the same thing on gj,ej & nu but didnt see reasonable pa to short but still knew it wld still drop like a rock, did u set a sell limit or based on pa on a lower tf(didnt see anything on the daily apart from IB ...i think) ....thnx
in my case i entered the gb/yen eu/yen on the break of 1h ghous bars (hanging man or inside pinbar) and a 15 pin on the chf/jpy. im not brave enough to enter completly blind yet. for me these are more forward testing than my normal trades.i only entered small positions.
hope this helps
jon
PATIENCE... DISCIPLINE
  • #34,445
  • Jun 23, 2009 10:11am Jun 23, 2009 10:11am
Quoting ghous
For it to be a pin bar the close had to be within the previous bar. SO by definition it is NOT a pin bar.

EDIT: Even if it had been a pin bar, it was not an A+ trade because of the sideways action. It might have been tradable if the nose was reallylong, long enough to protrude away from the vicinity of traffic. In fact that's the best way to be trading in a ranging market following this methodology.

But I am glad it worked out for you.
The whole picture
Is this again sideway or ... ?
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  • #34,446
  • Jun 23, 2009 10:15am Jun 23, 2009 10:15am
Quoting ikki
Was a blind entry? yes.
I use the ema's like confluence and other stuffs. Look how the EMA60 touch exactly fib 50 level.. The PPZ wasn't clean, a little difficult in this case that's why I put my stoploss above 61.8 level. You have to built confidence with this style, because this could be an account-killer
thnx ikki
thought as much dat it was a blind entry, dis was wat i saw on my ejh4 chart, was looking for pa to short on 1hr tf, was also thinking of entering blindly and putting my stop jst above my 50 ema
need to practice this method some more
thnx
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Simplicity is the key to success
  • #34,447
  • Jun 23, 2009 10:17am Jun 23, 2009 10:17am
I think ghous is watching this level....
Attached Image
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #34,448
  • Jun 23, 2009 10:20am Jun 23, 2009 10:20am
Quoting g_j_hook@yah
in my case i entered the gb/yen eu/yen on the break of 1h ghous bars (hanging man or inside pinbar) and a 15 pin on the chf/jpy. im not brave enough to enter completly blind yet. for me these are more forward testing than my normal trades.i only entered small positions.
hope this helps
jon
ofcourse dis helped jon, wow! the inside pin bar or can i say the inverted pin bar(am i correct) , i saw dis as well, but not pa im really familiar with....did u short at the break of the inside pin or aggressive at the close....and where was ur stop loss
definately would do dis only on demo, trying to be flexible here and play wit diff scenarios as long as they are all pa related
thnx

edit: sorry u said on the break,jst saw it...lol
Simplicity is the key to success
  • #34,449
  • Jun 23, 2009 10:25am Jun 23, 2009 10:25am
Quoting teodosy87
The whole picture
Is this again sideway or ... ?
refer to the chart below to see what I meant with sideways. It is the lack of a dominant trend that adds to the mediocrity of the setup.

The Pin bar (or rather almost a pin bar) occurred at a swing low of the sideways market so in a way could have been been tradable but the given the poor shape (short nose long body) it was a high risk/low probability trade.

Regards,
Ghous.
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I believe . . .
  • #34,450
  • Jun 23, 2009 10:25am Jun 23, 2009 10:25am
Quoting ikki
I think ghous is watching this level....
yup. I sure am...
I believe . . .
  • #34,451
  • Jun 23, 2009 10:29am Jun 23, 2009 10:29am
Quoting TotalNewbie
Not much of a pin but the move north stalled exactly where I expected (thin blue line). Would be trading down into some traffic (thick blue line) but it is with long term trend and has potential if it can get past the traffic. Any thoughts from the pros?

I am long this off the daily, you can short if you want too but I think I will win
Keep taking CT trades, I need more money
  • #34,452
  • Jun 23, 2009 10:29am Jun 23, 2009 10:29am
Hi,

This is my first post on this thread. I am still in process of going through this thread. However, would appreciate, if somebody could explain BUOB & BEOB and its location.

Here are some of my questions:

1) If BUOB is on swing high does this mean continuation of uptrend?
2) If BUOB is on swing low does this mean probability of start of uptrend?
3) If BEOB is in swing low does this mean continuation of downtrend?
4) If BEOB is on swing high does this mean probability of start of downtrend?
5) What other locations other than above BUOB/BEOB are tradable?

Thanks,

Alifari
The purpose of knowledge is action, not knowledge
  • #34,453
  • Jun 23, 2009 10:35am Jun 23, 2009 10:35am
Quoting ghous
refer to the chart below to see what I meant with sideways. It is the lack of a dominant trend that adds to the mediocrity of the setup.

The Pin bar (or rather almost a pin bar) occurred at a swing low of the sideways market so in a way could have been been tradable but the given the poor shape (short nose long body) it was a high risk/low probability trade.

Regards,
Ghous.
I see what you mean thanks again for he great info
  • #34,454
  • Jun 23, 2009 10:37am Jun 23, 2009 10:37am
Quoting alifari
Hi,

This is my first post on this thread. I am still in process of going through this thread. However, would appreciate, if somebody could explain BUOB & BEOB and its location.

Here are some of my questions:

1) If BUOB is on swing high does this mean continuation of uptrend?
2) If BUOB is on swing low does this mean probability of start of uptrend?
3) If BEOB is in swing low does this mean continuation of downtrend?
4) If BEOB is on swing high does this mean probability of start of downtrend?
5) What other locations other than above BUOB/BEOB...

Yes and No too 1-5. Read the 1st page, look at some charts then you can answer that yourself. Also just to add a little fun, if you have the exact same setup that worked before, the exact pin, size, time, full moon, same food that day as well as you did exactly the same things..... It can and will fail, it has some randomness to it just use good MM and learn what your EDGE is and how to use it.
Keep taking CT trades, I need more money
  • #34,455
  • Jun 23, 2009 10:46am Jun 23, 2009 10:46am
Quoting kinsja
Hi,
I've just recently joined the group and have spend the last week or so reading the thread from the start to about p150. I think I've got the idea, and have entered my first PB based trade. 2 lots long. Where do I get out? Currently up 100pips. Daily chart has the PB bouncing off the bottom of a upward channel.

Thanks, Jason

I hope the attachment worked.
Awesome Jason! You freaking nailed it. A few things though, firstly their are some key tip offs in your language. When someone says I am 2 lots long, it makes me realize they are not using proper Money Mgmt. Please make sure you read up about position sizing(PM if you need the links). Also this is on demo right? Want to get you off on the right foot, even though your chart is near perfect to me

Welcome again
Mike
  • #34,456
  • Jun 23, 2009 10:50am Jun 23, 2009 10:50am
Quoting Ryanmcd
Yes and No too 1-5. Read the 1st page, look at some charts then you can answer that yourself. Also just to add a little fun, if you have the exact same setup that worked before, the exact pin, size, time, full moon, same food that day as well as you did exactly the same things..... It can and will fail, it has some randomness to it just use good MM and learn what your EDGE is and how to use it.
Thanks, I will go through thread and look for chart examples.
The purpose of knowledge is action, not knowledge
  • #34,457
  • Jun 23, 2009 10:51am Jun 23, 2009 10:51am
Quoting billye
hi guys:
I have been watching E/U and U/Chf for a few hours today on Day Timeframe.

it seems never moving at all for +-0.01,
so on Day-tf it seems nothing ever moving at all and stalled (1.40, 1.07)

how do you trade this kind of higher tf chart?
is it place an order and come back to see after 1 day? thanks...
Hey Bill

Not sure I understand your question? Are you saying sine price has been very choppy and consolidating how do we trade this on the daily chart? If that is what you are asking basically we wait. This is why it is easier IMO to watch as many pairs as you can and just wait for the trades that stand out instead of trying to finesse up one pair that might not be moving. I usually see this and look for potential breakouts when a pair is in consolidation mode.

Sorry if I completely missed your question

Mike
  • #34,458
  • Jun 23, 2009 10:52am Jun 23, 2009 10:52am
Just going over the 4hr, looks like we had a LOT of PB's the past 36 hours.
Keep taking CT trades, I need more money
  • #34,459
  • Jun 23, 2009 10:54am Jun 23, 2009 10:54am
Quoting squeezy
ofcourse dis helped jon, wow! the inside pin bar or can i say the inverted pin bar(am i correct) , i saw dis as well, but not pa im really familiar with....did u short at the break of the inside pin or aggressive at the close....and where was ur stop loss
definately would do dis only on demo, trying to be flexible here and play wit diff scenarios as long as they are all pa related
thnx

edit: sorry u said on the break,jst saw it...lol
glad to help. my stops were above the previous bars highs(the bar before the ib)and yes entered on the break, this is agressive enough for me.the 1h TF is agressive alone.
all possitions are closed

jon
PATIENCE... DISCIPLINE
  • #34,460
  • Jun 23, 2009 10:55am Jun 23, 2009 10:55am
Quoting squeezy
quick question ikki & 4fun,
was dis a blind entry cos i also saw the same thing on gj,ej & nu but didnt see reasonable pa to short but still knew it wld still drop like a rock, did u set a sell limit or based on pa on a lower tf(didnt see anything on the daily apart from IB ...i think) ....thnx
Sorry for delayed response, I live close by Colorado river and my friends from out of town use my place as a launch pad, this place was jumpin like a mini-mart this am.Yes it was a blind entry so to speak but I knew we were in a retrace of the right shoulder of a head and shoulder pattern with present trend down so it wasnt just a shot in the dark. I shorted this manually and was watchin from a lower tf look at those tweezers on the 15min I smiled when I saw that. Btw closed at 155
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