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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

  • #58,821
  • Mar 22, 2010 8:46am Mar 22, 2010 8:46am
Quoting benji533
welcome to the club ...
This is maybe the hardest question I can personally answer, cause it's probably the only thing you must put some thinking in. To be honest ppfx's post of that random equity curve generator is keeping me quite busy.
Each trade is unique and different, but I still believe you need some kind of further guideline than just counting on an high win rate and taking half profit very fast. It's not very effective long term, even with a huge account I would say.
Put ryan's way of going for 2R and wining only 50% of the times. It...
thanks for the response. It seems it's very discretionary (just like this method) and each trade has it's own criteria. I guess it's still early and i'm trying to find my own style.
  • #58,822
  • Mar 22, 2010 8:48am Mar 22, 2010 8:48am
Thanks WH92, Benji for your inputs!

Quoting wh92stang
Ertorque,

All of these pinbars are acceptable IMO, but I would be the most confident with setup D. First of all, the bar prior to the pin hits the round number and is slightly rejected. Second of all, the actual pinbar moves above resistance pretty significanty, giving it all the chance in the world to resume upward momentum and take out stops, but cannot sustain and is firmly rejected. If it breaks on the next bar I'd take it right away.
  • #58,823
  • Mar 22, 2010 8:49am Mar 22, 2010 8:49am
Quoting printer69
ciao everybody!
...
Hello Andrea,
try a mid-range/mid-priced PC.
15-19" monitor is enough. start with 1monitor (& then another one, then one more, lol; just kidding).
when u get enough forex profits, improve your PC setup, if u want to.

Good luck & congratulations for a new PC.
  • #58,824
  • Mar 22, 2010 8:50am Mar 22, 2010 8:50am
Quoting ppfx
btw what happened to marcelnyo? i didnt saw him for quite some time
Quoting nasir.khan
Yep and Ghous too.
.
marcelnyo... i think is busy with some personal stuff.
ghous, busy with school perhaps.
  • #58,825
  • Mar 22, 2010 8:56am Mar 22, 2010 8:56am
Quoting Rustam
CAD/JPY has been stuck in a range for the past year. A pinbar has formed at the top of that range on the daily... How would you rate this setup? Is this something people would take if they are being ultra picky?
im not into rating setups, but here's my view.

not the typical-looking PB we try to take.
about 3/4 of its body is within the prior candle/s (as opposed to the ideal PB setup which has its (3/4 or) whole body protruding away from other candles).
it almost looks like a PB-BEOB hybrid.
i'd like to see this drop with momentum.
there are candle highs & lows right below your sell stop, these would be the initial trouble area.

Hope this helps
  • #58,826
  • Mar 22, 2010 9:08am Mar 22, 2010 9:08am
Quoting supremeChaos
im not into rating setups, but here's my view.
..
Quoting benji533
well this one turned out nicely...
LOL...
just noticed benji's posts above.

there u go, Rustam.
  • #58,827
  • Mar 22, 2010 9:09am Mar 22, 2010 9:09am
Quoting nasir.khan
You don't have to worry about anything like PC's or Windows or MAC. Just put all your energy into charts.

I sometimes trade from this, especially when i am on vacations. lol
.
Nasir

...yeah even on tech the rules seems to be always the same
KEEP IT SIMPLE AND RELIABLE !!

thank you Nasir

Andrea
  • #58,828
  • Mar 22, 2010 9:11am Mar 22, 2010 9:11am
This isn't exactly a pin bar but the bar does have a lot of the pin bar characteristics. I would normally ignore these bars as a faky, but the tail's just too long and It's bouncing off of couple of fib zones along with PPZ zone.

Would most of you still consider it illegitimate?

Attached Image
Going to go Hunt for some large pips
  • #58,829
  • Mar 22, 2010 9:21am Mar 22, 2010 9:21am
Quoting supremeChaos
Hello Andrea,
try a mid-range/mid-priced PC.
15-19" monitor is enough. start with 1monitor (& then another one, then one more, lol; just kidding).
when u get enough forex profits, improve your PC setup, if u want to.

Good luck & congratulations for a new PC.

Ciao SupremeChaos

many many thanks your advice much appreciated

hope to talk to you soon about something more "related to forex" rather then those "PRIMORDIAL MESOZOIC BASICS REQUEST FOR ADVICE" from your experience and set-up

have a nice day

Andrea
  • #58,830
  • Mar 22, 2010 9:23am Mar 22, 2010 9:23am
Just got a phone call that says I passed my driving test today!!!!
HOOO YEEAAA!!!!!!!!!
Too bad it takes months upon months to get a test in this country. Damn they have killed me.


See yaaa allll and the boring pin bars latter, I'm out for a ride!!!!
  • #58,831
  • Mar 22, 2010 9:34am Mar 22, 2010 9:34am
Congrats Ben

I know how you're feeling. I remember that day as one of the greatest days in my life.

Quoting benji533
Just got a phone call that says I passed my driving test today!!!!
HOOO YEEAAA!!!!!!!!!
Too bad it takes months upon months to get a test in this country. Damn they have killed me.


See yaaa allll and the boring pin bars latter, I'm out for a ride!!!!
  • #58,832
  • Mar 22, 2010 9:48am Mar 22, 2010 9:48am
half of the table @ 1st trouble area...remainder to BE.
Attached Image (click to enlarge)
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  • #58,833
  • Mar 22, 2010 9:57am Mar 22, 2010 9:57am
I am having a problem with chart posting so appologies for no charts but EURUSD looks like a nice 4hr PB forming. Have to wait for close but things in its favour

1) PPZ and swing low
2) Divergence on MACD daily
3) 61.8% retrace of move from 1.25 to 1.51

There is also a daily PB looking to form although its a bit smaller and the 4hr will be my trigger.
  • #58,834
  • Mar 22, 2010 10:18am Mar 22, 2010 10:18am
Quoting lovejoy80
Damn...the retrace fell a tad short of my pending orders
Got it now??? .
after all it had to take out some BE's...............
  • #58,835
  • Mar 22, 2010 10:29am Mar 22, 2010 10:29am
Quoting nasir.khan
Got it now??? .
after all it had to take out some BE's...............
Took trades on retracement to the 1HR PPZ's (UC, CJ)...held onto A/C from the DBLHC at TL / PPZ low.

Though oil has broken back above the TL...
  • #58,836
  • Mar 22, 2010 10:30am Mar 22, 2010 10:30am
Quoting printer69
Nasir

...yeah even on tech the rules seems to be always the same
KEEP IT SIMPLE AND RELIABLE !!

thank you Nasir

Andrea

Hi Andrea, I thought I'd chime in on this since I am on a mac and have run into some issues along the way. I am running Dealbook Web from GFT broker. This platform can be run off just about any system since it is web based. I am just trading Daily and Weekly charts and don't use indicators, so it works out very well for me.

I also do run Windows on my mac with Metatrader which works fine for back testing and other research that is limited on Dealbook Web.

Hope this helps, let me know if you have any questions.


Jacob
  • #58,837
  • Mar 22, 2010 10:37am Mar 22, 2010 10:37am
Quoting Jcp
Hi Andrea, I thought I'd chime in on this since I am on a mac and have run into some issues along the way. I am running Dealbook Web from GFT broker. This platform can be run off just about any system since it is web based. I am just trading Daily and Weekly charts and don't use indicators, so it works out very well for me.

I also do run Windows on my mac with Metatrader which works fine for back testing and other research that is limited on Dealbook Web.

Hope this helps, let me know if you have any questions.


Jacob

ciao Jacob,

I will check it
many thanks your reply and infos much appreciated

Andrea
  • #58,838
  • Mar 22, 2010 10:46am Mar 22, 2010 10:46am
Attached Image


Woot Woot! Hit my first TP

Anybody checked out the sick pin bar on OIL?

Attached Image


the traffic on the left makes me not want to take it until it breaks 80.00

Any thoughts on this from you guys?
Going to go Hunt for some large pips
  • #58,839
  • Mar 22, 2010 11:03am Mar 22, 2010 11:03am
Hi Relic,

I noticed that your OIL chart is from IBFX broker. Don't they provide only spot forex trading?

CY

Quoting relict07
Attachment

Woot Woot! Hit my first TP

Anybody checked out the sick pin bar on OIL?

Attachment

the traffic on the left makes me not want to take it until it breaks 80.00

Any thoughts on this from you guys?
  • #58,840
  • Mar 22, 2010 11:04am Mar 22, 2010 11:04am
Quoting jarroo
Deja vu all over again? Maybe.

Heading into a strong Weekly PPZ level at the 1.0650. Hard and strong break and retrace to that PPZ level looks good, but then again the Jan. PB broke and never looked back. This one looks stronger, although a bit small.
yeah I know that ppz it's heading into, wait for a larger break? make a better buffer....
Many choose unhappiness over uncertainty.
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