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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

  • #50,821
  • Jan 5, 2010 7:35pm Jan 5, 2010 7:35pm
Quoting Treefingers
At what point would a trend become a reverisle of major trend. e.g the aud/usd has been in bear trend from Mid Nov after a long uptrend?

Hope that makes sense
This little retracement would never make me think the uptrend is over. As long as price is predominately moving from the bot left to the top right I am thinking uptrend until that changes. Or a very extreme major reversal point gets put in where we could potentially call a top. The good thing is we really don't need to decipher when it changes to be correct most of the time.

Best
MIke
  • #50,822
  • Jan 5, 2010 7:42pm Jan 5, 2010 7:42pm
Quoting Pip Pride
Hi guys

I have a possible daily pinbar forming on Aus/Usd (1hr 20 mins to go). Not sure how strong the line is but the yellow horizontal line appeared to act as support in March 2008 and in Oct 2007.

Any comments, thoughts?
plus of a trendline
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  • #50,823
  • Edited 8:09pm Jan 5, 2010 7:58pm | Edited 8:09pm
Quoting desperate
plus of a trendline
That's a very small bar following a very big move, heading into some heavy traffic.

And most of the time, those end in tears.

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(also, note how well following the rules protects you from these wussy pins!)
When you have to shoot, shoot. Dont talk.
  • #50,824
  • Jan 5, 2010 8:06pm Jan 5, 2010 8:06pm
Quoting joelcf
That's a very small bar following a very big bar, heading into some heavy traffic.
yeah agreed. I think these bars aren't very much to get excited over. Maybe eventually some people get to the point they know how to be nimble. But if you aren't profitable, I think these should be avoided all the time, simply b/c the easier ones are around the corner

Mike
  • #50,825
  • Jan 5, 2010 8:16pm Jan 5, 2010 8:16pm
Ha Ha. I love the sad faces at the little pins. Point well made, will close Sell Stop and stay away. Thanks guys.
  • #50,826
  • Jan 5, 2010 8:20pm Jan 5, 2010 8:20pm
Quoting triger88990
I was looking on my platform,on you picture couldn't distinguish anything, and I haven't any PB + you are looking on an pinish bar, try spot only those bar that are yelling to you, you will definitely feel the difference

if I was aware to short this pair I'm looking on 90.00-.25 where we have an established resistant.

wish you the best
It's confirmed. I got screwed on the GMT -5 chart. Got a hold of a GMT +2 platform and I never would have even considered entering my short position on Cad/Jpy at this point.
  • #50,827
  • Jan 5, 2010 8:21pm Jan 5, 2010 8:21pm
Quoting Pip Pride
Ha Ha. I love the sad faces at the little pins. Point well made, will close Sell Stop and stay away. Thanks guys.
yep point taken, thanks Joel.
Learning to be rigid in my rules & flexible in my expectations
  • #50,828
  • Jan 5, 2010 9:25pm Jan 5, 2010 9:25pm
Quoting joelcf
That's a very small bar following a very big move, heading into some heavy traffic.

And most of the time, those end in tears.

Attachment

(also, note how well following the rules protects you from these wussy pins!)
Yeah, totally w ya mate.

I might add that some pins are just there to catch suckers. Get suckered enough times and hopefully we learn. lol.
Even if wussy pins work, how often?

All pins are made equal... some are just more equal than others...
One Mind, Any Market
  • #50,829
  • Jan 5, 2010 9:52pm Jan 5, 2010 9:52pm
Hi guys, i know some of you have bearish bias on GBPUSD. But I am seeing BUOB on daily and weekly chart. Indications for future movement? Any comment?
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  • #50,830
  • Jan 5, 2010 9:56pm Jan 5, 2010 9:56pm
Quoting esbatu
Hi guys, i know some of you have bearish bias on GBPUSD. But I am seeing BUOB on daily and weekly chart. Indications for future movement? Any comment?
That's a pretty big 2d pin, with the trend, followed by a pretty forceful break.

I'd tread lightly, until PA indicates otherwise.
When you have to shoot, shoot. Dont talk.
  • #50,831
  • Edited 11:12pm Jan 5, 2010 10:51pm | Edited 11:12pm
Quoting Glenborrell
ghous, IPB? What does this mean?....
check related posts here, here, here, here, here.
  • #50,832
  • Jan 5, 2010 11:31pm Jan 5, 2010 11:31pm
Quoting esbatu
...I am seeing BUOB on daily and weekly chart. Indications for future movement? Any comment?
the daily BUOB has been followed by a 2day-PB, as Sir joel said.
price has been making lower highs/lower lows since November.

Plus, the weekly BUOB has not broken convincingly to the upside.
on the weekly chart, u'll notice a similar scenario back in end-September-to- mid-October: price slowed down around/prior 1.57 - 1.58 area.

if ever price goes up, we can see it may encounter resistance between 1.62 - 1.64 before it can have any bullish progress.
if ever price goes down further, i'd watch how smooth sailing price drops below 1.57
Let's see what gbp wants to do...
  • #50,833
  • Jan 5, 2010 11:44pm Jan 5, 2010 11:44pm
Hi Joel and SC, thanks for the comment. Yeah let see where it wants to go, don't forget NFP report on friday
  • #50,834
  • Jan 6, 2010 12:26am Jan 6, 2010 12:26am
Quoting NosferatuMan
Hy ghous,

If I may ask, what was the bar that you refer on your post?

Is it the tiny green PB that reaches to the top?
Quoting Glenborrell
ghous, IPB? What does this mean? Inside pin bar? Sorry if this has been covered but i've not come across this before.

Thanks,

Glen
Hey Guys,

IPB = Inverted Pin Bar

it's a reversal setup just like a pin bar, we talked abt them in detail when we first tried to play them, but I've not talked abt them a lot as these can be very tricky to play and we have mostly newbies here trying to get their hands wet at the basic stuff...

ps I don't want you guys to look at a good pin and fall into any illusion that it's an ipb, Mike's got enough of questions to deal with to add any more to the list.

Chaos was kind enough to refer you ppl to the posts where we discussed them, go through these and if you have any questions shoot them here or pm me and we'll talk them through,

cheers,

g.
I believe . . .
  • #50,835
  • Jan 6, 2010 1:32am Jan 6, 2010 1:32am
chart
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Simplicity is the key to success
  • #50,836
  • Jan 6, 2010 3:21am Jan 6, 2010 3:21am
Inside bars such these just make me smile...or rather...

Clear intentions,

Sweet locations.

BOOM!

g.
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I believe . . .
  • #50,837
  • Jan 6, 2010 3:28am Jan 6, 2010 3:28am
Quoting supremeChaos
check related posts here, here, here, here, here.
SC, thanks. All makes sense now.

Top stuff.

Glen
  • #50,838
  • Edited 4:40am Jan 6, 2010 3:54am | Edited 4:40am
wow this might be a range, but theres enough room to the top at least for this mega pin ...

btw, gotta wait for break on this one
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  • #50,839
  • Jan 6, 2010 4:50am Jan 6, 2010 4:50am
Quoting pipmyride
wow this might be a range, but theres enough room to the top at least for this mega pin ...

btw, gotta wait for break on this one
I'm liking this one more. But it isn't breaking hard and may fail. Again, worth waiting for a break of bar.

Location...
Patience.
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  • #50,840
  • Jan 6, 2010 4:52am Jan 6, 2010 4:52am
Quoting ghous
Inside bars such these just make me smile...or rather...

Clear intentions,

Sweet locations.

BOOM!

g.
Good one Ghous

I shorted the GbpChf 1H pin. Still in looking for 16500.

I see you are liking the hourly charts these days!
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