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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

  • #52,881
  • Jan 26, 2010 6:43am Jan 26, 2010 6:43am
Quoting bigandrich
the shorts played out great on the g/j and g/u 4hr pinbars
yes sir. perfect ppz+PA... i played the pin on demo and got stopppd at breakeven after the big run.

My live account I played the BEOB, s/l @ breakeven.
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Many choose unhappiness over uncertainty.
  • #52,882
  • Jan 26, 2010 6:48am Jan 26, 2010 6:48am
Quoting lovejoy80

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?
The chart was on from my iPhone hence it looks zoomed in.

I don't trade anything but Pin bars at the minute and I'm trying to get to grips with other bar styles, hence the question about that shoot down but with the open and close in the top half of the bar. I guess for it to be truely bullish the open/close should be in the top 1/4 or 1/3 of the bar?

The confluence on the 15m comes from the S/R zone around the round number and the fact that the pin is against the S/R zone (trading away from the resistance). Does that make sense?

I typically trade daily with 4hr for entry.

This 15m chart was just a bit of luck as I spotted the Pin Bar on my iphone, looked left and decided there was a scalp. It worked - this time at least!
"I made all my money by selling too soon"
  • #52,883
  • Jan 26, 2010 6:48am Jan 26, 2010 6:48am
Excuse the cr*ppy chart (at work), took a simple PPZ trade long from 1.390, target recent high @495. No price action, but price couldn't break through for a fair few bars now so there was a high enough probability that buyers would take this back up again.
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  • #52,884
  • Jan 26, 2010 7:14am Jan 26, 2010 7:14am
Quoting Bleek
The chart was on from my iPhone hence it looks zoomed in.

I don't trade anything but Pin bars at the minute and I'm trying to get to grips with other bar styles, hence the question about that shoot down but with the open and close in the top half of the bar. I guess for it to be truely bullish the open/close should be in the top 1/4 or 1/3 of the bar?

The confluence on the 15m comes from the S/R zone around the round number and the fact that the pin is against the S/R zone (trading away from the resistance). Does that make sense?

I typically...
Typed a reply but the servers were busy and it got deleted grrr!

1. The second bar is not a pin bar so I wouldn't be looking for a trade here.

2. The trade you took is not an A+ setup IMO.

The PPZ is not that clear IMO and the bar itself is not that large in comparison to the surrounding bars. There is no other obvious confluence from my quick review. I would be looking for a clear PPZ and for the nose of the bar to be larger and protruding up through the round number - A+ trades should be easily spottable IMO. I would show you an example of what I mean but dont have my MT4 on me.

With regards your statement in bold, if we rely on luck we would have a blown account pretty quickly, trading is a business and needs to be treated like one that means have a trading plan and going through a potential setup and seeing if it meets with our plan i.e. ticks the boxes. This plan should put you in a position to take a trade which gives you a high probability of a successfull trade. I would urge you to stick to the higher time frames and look for A+ trades only and know (either mentally or written down) what constitutes an A+ trade for you (every trader is different based on their own risk appetite and what suits their personality).

If you really want to know more about the lower time frame setups utilising pin bars then the Jankone thread is a good place to start...but again I would urge you to have gone through page 1 of this thread and ticked through the list first.

Sorry if the above is not that clear and a bit ranty, just trying to help.

All the best.
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  • #52,885
  • Jan 26, 2010 7:17am Jan 26, 2010 7:17am
Quoting KissFan
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.
Looking to buy here if market shows it's hand.

K.I.S.S.
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  • #52,886
  • Jan 26, 2010 7:26am Jan 26, 2010 7:26am
since jarroos return this thread has been moving too fast for real life....
Many choose unhappiness over uncertainty.
  • #52,887
  • Jan 26, 2010 7:34am Jan 26, 2010 7:34am
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
This area as well on the Cad.
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Indicators show the past. Price Action "Indicates" the future.
  • #52,888
  • Jan 26, 2010 7:36am Jan 26, 2010 7:36am
Quoting KissFan
Looking to buy here if market shows it's hand.

K.I.S.S.
Please put a big order.
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  • #52,889
  • Jan 26, 2010 7:36am Jan 26, 2010 7:36am
Quoting nasir.khan
well Ghous can elaborate better but I think the size of the IPB is not enough comparing to the last big red bar.
yea it wasnt enough... i was just stopped out
  • #52,890
  • Jan 26, 2010 7:37am Jan 26, 2010 7:37am
Quoting Dan Gilbert
since jarroos return this thread has been moving too fast for real life....
I do tend to carry on too much at times.

Let me know if I am getting out of hand. lol
Indicators show the past. Price Action "Indicates" the future.
  • #52,891
  • Jan 26, 2010 7:45am Jan 26, 2010 7:45am
Quoting ppfx
yea it wasnt enough... i was just stopped out
this is what demo accounts are for.

Keep it up.
  • #52,892
  • Jan 26, 2010 7:47am Jan 26, 2010 7:47am
Quoting nasir.khan
Please put a big order.
Are you in at 8747? If so, I rarely get in on the break of an outside bar. There is nothing wrong with it. I've missed some good trades unfortunately. It's just not my style. I believe that we are headed to 8773. I liked the confluence at 8700.

K.I.S.S.
  • #52,893
  • Jan 26, 2010 7:51am Jan 26, 2010 7:51am
Quoting jarroo
I do tend to carry on too much at times.

Let me know if I am getting out of hand. lol
We like you "out of hand".

K.I.S.S.
  • #52,894
  • Jan 26, 2010 7:55am Jan 26, 2010 7:55am
Quoting KissFan
We like you "out of hand".

K.I.S.S.
Its a lot of fun that way. lol
Indicators show the past. Price Action "Indicates" the future.
  • #52,895
  • Jan 26, 2010 7:56am Jan 26, 2010 7:56am
Quoting KissFan
Are you in at 8747? If so, I rarely get in on the break of an outside bar. There is nothing wrong with it. I've missed some good trades unfortunately. It's just not my style. I believe that we are headed to 8773. I liked the confluence at 8700.

K.I.S.S.
I bought at break and retrace both (you can see in pic).
  • #52,896
  • Jan 26, 2010 7:59am Jan 26, 2010 7:59am
I'll be looking here to short GBP again. Some confluence there already. I'll update if we get there. 150/365ema, 618 fib and round number (6200).

K.I.S.S.
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  • #52,897
  • Jan 26, 2010 8:04am Jan 26, 2010 8:04am
Quoting jarroo
This area as well on the Cad.
Well....I think you will be glad to see the 4h chart...
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  • #52,898
  • Jan 26, 2010 8:05am Jan 26, 2010 8:05am
Quoting jarroo
Its a lot of fun that way. lol
My last chart was "out of hand". Just Keeping It Sloppy Surfers!

K.I.S.S.
  • #52,899
  • Jan 26, 2010 8:06am Jan 26, 2010 8:06am
Quoting benji533
Well....I think you will be glad to see the 4h chart...
Indicators show the past. Price Action "Indicates" the future.
  • #52,900
  • Jan 26, 2010 8:20am Jan 26, 2010 8:20am
I have been waiting for this and think that it's a good short trade till 1.0530. This is my IBFX feed but Alpari shows a closed pin below resistance. I'll be watching short TFs at 1.6. I like the bar formation and divergence. I'd love to see the 1.44 area for final TP.

K.I.S.S.
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