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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

  • #60,181
  • Apr 7, 2010 11:41pm Apr 7, 2010 11:41pm
anyone say anything about this yet?
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  • #60,182
  • Apr 7, 2010 11:42pm Apr 7, 2010 11:42pm
oops wrong chart
  • #60,183
  • Apr 7, 2010 11:43pm Apr 7, 2010 11:43pm
anyone say anything about this yet ?
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  • #60,184
  • Apr 7, 2010 11:44pm Apr 7, 2010 11:44pm
Quoting 4X=0
anyone say anything about this yet ?
USDCAD
  • #60,185
  • Apr 8, 2010 12:05am Apr 8, 2010 12:05am
4x=0,
potential move towards 1.0200.. towards March high @ 1.0300ish
Satisfied, Sir?
  • #60,186
  • Apr 8, 2010 12:19am Apr 8, 2010 12:19am
Quoting mbqb11
Hey Ira

Firstly this isn't actually a pin. It didn't close within the prior bar which is your first sign of weakness from the bears.
IMO actually that pin is quite small Versus that huge uptrend. If you zoom out a bit you get a better view. I think w4e will see a topping on this pair but look for some substantial PA to do that. So this small pin then took off to that first trouble area and bounced.

Hope that helps
Mike
Thank you Mike again for the tip, I'll be more careful next time. I saw the first trouble area, but I can't put SL and TP on CFD's, so I missed it. I wanted to close half and the rest put to b/e. I was lucky and this morning it fell. But, luck is not a good word for this business, got to learn how to be picky - like you .
  • #60,187
  • Apr 8, 2010 1:00am Apr 8, 2010 1:00am
Quoting ghous
I would pass on that. I like my IPBs to give me a signal of a halt, either by leaving a small wick or by closing on the side my trade will be on (a bullish close on a bullish IPB and vice versa) or both. And then again if this happens at an important location such as at a BRN, you have a real good chance at it.

In my book Ej's not a tradable IPB in terms of bar shape and also because of the poor location it is sitting on.

g.
Of course not tradeable(is that a word?) now.

but when i posted it i thought it could close some 15 pips up.
.
  • #60,188
  • Apr 8, 2010 2:23am Apr 8, 2010 2:23am
Quoting supremeChaos
Hello ertorque,
do u use MT4?
in MT4's Terminal, u will see 'Trade, Account History, News, ...Alert.. Journal..'
Go to the Alert Tab, & play with it.
or try something like a trendline alert.
Thanks SChaos. I use MT4 IBFX and did not notice thie Alert tab there...........now I know!
  • #60,189
  • Edited 3:12am Apr 8, 2010 3:01am | Edited 3:12am
Quoting nasir.khan
Stopped out on my Yen's.

Missed the geppy on BRN. But took some breakouts+lousy 4H BEOB's.

See what London brings us.
.


Will this PPZ work again for EU?
.
TL and 62% fib for EJ but i cant see a clear PPZ.

Ok lets see.
.
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  • #60,190
  • Apr 8, 2010 3:11am Apr 8, 2010 3:11am
Quoting nasir.khan
Will this PPZ work again for EU?
.
TL and 62% fib for EJ but i cant see a clear PPZ.

Ok lets see.
.
Weekly TL and round number PPZ on USD / CHF could limit EU gains to the downside...but watching carefully and with interest rate commentary we could get some volatile price action
  • #60,191
  • Apr 8, 2010 3:53am Apr 8, 2010 3:53am
Quoting ghous
Hi Pipping Mama,
...............
A bullish Pin bar at a swing high tells us that price failed to make a high significantly higher than the previous bar, and that's not all, the bulls actually lost control. PA tells us this through the bar with a very small upper wick (lack of bull strength) and a long lower wick (the bears have stepped in) hence just like in the case of a pin bar the bears haven't gained control but have definitely stepped in snatching the remote control from the bears thus a Bullish Pin bar at a swing...
Hey Ghous,

I see some discussion on IPB on charts posted lately. This made me study thoroughly your post on IPB introduction which I had stored in my T0-READ folder a long time ago.
I just wanna say good job there (although it has been more than a year already). The psychology that the IPB paints makes good sense.
Will add this to my arsenal of PA.
By the way, please check to see if the word "bears" in BOLD should read BULL or not? I think it is an typo error.

CY
  • #60,192
  • Apr 8, 2010 4:39am Apr 8, 2010 4:39am
Quoting supremeChaos
Hello ddinnov,
i have seen your previous posts.. i even checked your post history.

one of the first habits u should have is looking at the big picture -- that is, looking at many bars/zooming out instead of zooming in.

it's pretty much like crossing a street:
u cant just look to the left & ignore the right side or
u cant look at only 1/4 of the left & right side.
or else..... BOOM

trading is risky when u have a narrow field of vision
Hi SC,

Thanks for the feedback. I'll post zoomed out versions of the charts in future.

The bigger picture is very important! !
Anything can happen.
  • #60,193
  • Apr 8, 2010 4:59am Apr 8, 2010 4:59am
Quoting ghous
Yes, a bullish Pin bar is a blue bar and a bearish pin bar is a red bar (I assume you have colored your bear bars red and bull bars blue) but a pin bar can also take the shape of a doji where price closes exactly where it opened, or it could have a very small body of either color so color really is not as important as the bar shape it self.

I.e for a bullish pin bar the lower wick has to be significantly longer than the upper wick and the body has to be small or non existent. For a bearish pin bar the upper wick is much longer than the lower wick...
Hey Ghous,
Just wondering about the psychology involved in pin bars (or their variants)
Would you agree that the bar on the right (zoomed-in chart) is more bullish than the IPB on the left chart (let's assume both are in the exact same location). If so, could such bars be played as well as bullish PAs u think? Maybe also with entry at close and SL at the end of the long wick in this example?

P/s: Gentlemen of J16 thread, I know this is a bit off-topic but please bear with me.........

CY
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  • #60,194
  • Apr 8, 2010 5:02am Apr 8, 2010 5:02am
Quoting Dan Gilbert
getting to breakeven in a way that allows for good breathing room.
Hi Dan

Thanks for v interesting approach. How do you normally get to B/E? I am trying to move stop to B/E after reaching 1st TP, Take a third, then second third at 2nd TP, and then trail the rest. Currently just letting EU/AUD run - s'pose it will stop one day! hope that makes sense.

Thanks

J
  • #60,195
  • Apr 8, 2010 5:04am Apr 8, 2010 5:04am
EURJPY is heading into oblivion... It passed right through a PPZ and 2 layers of fib...

edit: well, maybe if this H4 would turn into a PB.
  • #60,196
  • Apr 8, 2010 5:08am Apr 8, 2010 5:08am
Quoting ertorque
Hey Ghous,
Just wondering about the psychology involved in pin bars (or their variants)
Would you agree that the bar on the right (zoomed-in chart) is more bullish than the IPB on the left chart (let's assume both are in the exact same location). If so, could such bars be played as well as bullish PAs u think? Maybe also with entry at close and SL at the end of the long wick in this example?

P/s: Gentlemen of J16 thread, I know this is a bit off-topic but please bear with me.........

CY
Ghous will answer you better when he'll come back.

IMO,

The one on the left is a classic IPB how he likes them.

But the Bar on the right is not tradable in any sense.
.
  • #60,197
  • Apr 8, 2010 5:13am Apr 8, 2010 5:13am
Quoting neutro
EURJPY is heading into oblivion... It passed right through a PPZ and 2 layers of fib...

edit: well, maybe if this H4 would turn into a PB.
There was a PB in 1H until 58 minutes but disappeared in just last 2 mins. lol
.
  • #60,198
  • Apr 8, 2010 5:19am Apr 8, 2010 5:19am
Quoting nasir.khan
Ghous will answer you better when he'll come back.

IMO,

The one on the left is a classic IPB how he likes them.

But the Bar on the right is not tradable in any sense.
.
And why not may I ask? The bar on the right chart is more bullish in my opinion, isn't it? The bears has exhausted and bull is wrestling control of the remote control from the bears (in the words of Ghous himself when describing the IPB psychology in his IPB Intro post).
I find it to be of the same psychology rationale as the IPB on the left chart.
Doesn't this sort of thinking make it a tradable bar?
Just curious of how others see it...................

CY
  • #60,199
  • Apr 8, 2010 5:31am Apr 8, 2010 5:31am
Quoting neutro
EURJPY is heading into oblivion... It passed right through a PPZ and 2 layers of fib...

edit: well, maybe if this H4 would turn into a PB.
It hasn't given up the ghost quite yet...sitting on TL and 61 fib..I exited shorts at this level...maybe too early but what with ECB rate announcement and conference we might see some whipsaws
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  • #60,200
  • Apr 8, 2010 5:34am Apr 8, 2010 5:34am
Quoting ertorque
And why not may I ask? The bar on the right chart is more bullish in my opinion, isn't it? The bears has exhausted and bull is wrestling control of the remote control from the bears (in the words of Ghous himself when describing the IPB psychology in his IPB Intro post).
I find it to be of the same psychology rationale as the IPB on the left chart.
Doesn't this sort of thinking make it a tradable bar?
Just curious of how others see it...................

CY
But you can't use Ghous's exact words for both of these bars. Cause one one the left IPB and other one is looking like a PB (i tried to avoid calling it a PB in my 1st post) .

I would take it if it looks like this with a longer wick(see chart).
.
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