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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

  • #52,861
  • Jan 26, 2010 6:30am Jan 26, 2010 6:30am
What do u think about that G/U 4h BEOB at a swing high ?
I don't usually look/take OB (but PB) so request your help but wanted to try one, if this bar is OK where would you place order ?
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  • #52,862
  • Jan 26, 2010 6:30am Jan 26, 2010 6:30am
Quoting nasir.khan
Anyone watching this Pin Bar ??

Two Hours left could turn into a BUOB.
Good eye Nasir! I've been bought at 87 and sold at 8770 already. I'll be looking at this one for a longer term long now. I'll post another chart with my observations in a bit. BTW, has anyone noticed that this one mirrors the GBPCHF or am I just imagining this?

K.I.S.S.
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  • #52,863
  • Jan 26, 2010 6:41am Jan 26, 2010 6:41am
Quoting Punter
How about this....??? Good to shoot till first target you recon...?
Probably...but I don't see a lot of confluence going with it...

g.
I believe . . .
  • #52,864
  • Jan 26, 2010 6:41am Jan 26, 2010 6:41am
Quoting Punter
Any thoughts on this one?

Punter
Strong looking bar for sure. I'll be watching the break of this IB closely for shorts. I see a PPZ just under the low. I'll probably dial down to lower TF for entry. BEOB at swing high is what we look for but remember nothing is a slam dunk, just high probability.

K.I.S.S.

BTW, the large magenta PPZ is where the weekly bar would break if it happens.
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  • #52,865
  • Jan 26, 2010 6:42am Jan 26, 2010 6:42am
Quoting jarroo
Nice. d.

This deserves a closer look.
Indeed.
This area is marked on my charts for a few weeks already, waiting patiently.
I would have an eye on the DOW. Also, no PA = No trade.

Ben
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  • #52,866
  • Jan 26, 2010 6:48am Jan 26, 2010 6:48am
Quoting supremeChaos
first time u got stopped out huh? so u are human too

my internet has been failing me again , so thanks for the occasional laugh nasir

I wonder how you got an internet connection..

Quote
Mt. Everest Camp 4 (27,500ft.), near the Second Step (28,300ft.)

Yep i do get stoped out most of the times .

But some times i just get lucky.....
.
.
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  • #52,867
  • Jan 26, 2010 7:02am Jan 26, 2010 7:02am
Quoting benji533
Indeed.
This area is marked on my charts for a few weeks already, waiting patiently.
I would have an eye on the DOW. Also, no PA = No trade.

Ben
I liked you Fib, just like mine.

Not posting much......Whats holding you back Ben.??
  • #52,868
  • Jan 26, 2010 7:09am Jan 26, 2010 7:09am
Quoting djmanu
What do u think about that G/U 4h BEOB at a swing high ?
I don't usually look/take OB (but PB) so request your help but wanted to try one, if this bar is OK where would you place order ?
Djmanu, this is not a bar at a swing high. Price is currently in a box, very minor consolidation. It needs to get out of the box before it is free to continue on it's path. You have accurately marked ppz on your chart and those will act as temporary price limits.
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  • #52,869
  • Edited 7:22am Jan 26, 2010 7:10am | Edited 7:22am
Quoting nasir.khan
I liked you Fib, just like mine.

Not posting much......Whats holding you back Ben.??
Hey mate

Just needed some time for myself, thinking, adjusting, and mind-setting...plus other things in life.

Hope you are doing well

Ohh and just wanted to say it again...THANK YOU MIKE for what you are doing here for all of us, and what you have done to my trading. You might not be so aware of it, and I won't ramble.
Any newbie looking for trading adventures and high adrenalin following a new forex god every few weeks must first learn Mike's Basics IMO, otherwise it's easy to get lost. Trading is simple. Keep it that way.

Ben
  • #52,870
  • Jan 26, 2010 7:17am Jan 26, 2010 7:17am
Quoting benji533
Hey mate

Just needed some time for myself, thinking, adjusting, and mind-setting...plus other things in life.

Hope you are doing well
Thats good,

What level are you watching in Dow. 10,200 ???
  • #52,871
  • Jan 26, 2010 7:17am Jan 26, 2010 7:17am
Quoting goldtrader
2 lost trades...
Let's take a look...

Eur/jpy was never a long IB trade. Notice all the heaps and heaps of bar lows above the IB that a long trade would immediately be running into, if you look at the purple ppz I've drawn on my chart you'll see that the IB was nothing but a retest of the purple ppz which price was finally able to break after 4 unsuccessful attempts,

Now the Gbp/Nzd IB trade...clearly it has nothing to support it except maybe the fact that it was with the overall trend, I've attached a Eur/Usd 4H chart with an example of how we like our IBs...notice that we have heaps of confluence (i.e. the 1.3 round number, 50/61.8 fib ret, the 150 ema and divergence) in addition to a decent looking IB. (in contrast notice how the gbp/nzd IB comes extended wicks at both ends)

--------

On a side note would just like to add that you need not get bogged down by these losses, you'll gradually learn how to differentiate the good setups with the bad ones, and these losses act as great teachers.

g.
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I believe . . .
  • #52,872
  • Jan 26, 2010 7:20am Jan 26, 2010 7:20am
the shorts played out great on the g/j and g/u 4hr pinbars
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  • #52,873
  • Edited 7:55am Jan 26, 2010 7:27am | Edited 7:55am
Quoting nasir.khan
Thats good,

What level are you watching in Dow. 10,200 ???
Yes, that is a good level - I would like it to hold. Correlations are not the core though.
  • #52,874
  • Jan 26, 2010 7:30am Jan 26, 2010 7:30am
Quoting KissFan
Indeed Bleek. Now if you could learn how to use your arrows on your chart to point at the right bar when posting you will have it down pat.. Just kidding around with you bro! Great bar at a great place IMHO. Welcome to J16!

K.I.S.S.
The arrow denoted my entry NOT the pinbar!
"I made all my money by selling too soon"
  • #52,875
  • Jan 26, 2010 7:40am Jan 26, 2010 7:40am
Quoting Bleek
The arrow denoted my entry NOT the pinbar!
Haha the jokes on me bro! Take care and best to you!

K.I.S.S.
  • #52,876
  • Jan 26, 2010 7:42am Jan 26, 2010 7:42am
what do you think about that IPB ghous? im asking you beacuse i know that youre the master of IPBs

it seems like a good IPB for me, its on a RN (126.00) i put my SL at 125.80 and TP at 126.90 (i also intended to close half of the position around 126.50 and move the stops to BE)

the bad thing is that is running into a very strong ppz area(127.00)

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  • #52,877
  • Jan 26, 2010 8:19am Jan 26, 2010 8:19am
Quoting ppfx
what do you think about that IPB ghous? im asking you beacuse i know that youre the master of IPBs

it seems like a good IPB for me, its on a RN (126.00) i put my SL at 125.80 and TP at 126.90 (i also intended to close half of the position around 126.50 and move the stops to BE)

the bad thing is that is running into a very strong ppz area(127.00)

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well Ghous can elaborate better but I think the size of the IPB is not enough comparing to the last big red bar.
  • #52,878
  • Jan 26, 2010 8:24am Jan 26, 2010 8:24am
In the 15m chart below, does the bar outlined in green indicate a bullish signal i.e. on this time frame a Long scalp signal?

Notice however the pinbar prior to it which I took/scalped for 20 pips.
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"I made all my money by selling too soon"
  • #52,879
  • Jan 26, 2010 8:34am Jan 26, 2010 8:34am
Quoting Bee3a
First a pinbar at the 7100s then a DBHLC .. I know its not the most genius location but many actions drove me to take this trade.. I anticipate nothing much..SL above the Pinbar at 7075 first Tp at 7040 PPZ, then if things went ok move my SL break even...
Forgot to cancel my Limit order so I only was locked to a 40 pips profit, I'll watch the price movement see if it heads down more as I expected or not..
  • #52,880
  • Jan 26, 2010 8:42am Jan 26, 2010 8:42am
Quoting Bleek
In the 15m chart below, does the bar outlined in green indicate a bullish signal i.e. on this time frame a Long scalp signal?

Notice however the pinbar prior to it which I took/scalped for 20 pips.
A couple of questions to understand your reasoning / rationale if I may...

Why do you think this indicates a bullish signal?
Why did you take the pin bar trade? i.e. what were the reasons you noted mentally that this was a great setup and what was your target?

One general comment, your chart is way too zoomed in to see anything about the trend, confluence etc...plus, why the 15min timeframe?
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