james16 Chart Thread | Page 3164 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #63,261
  • May 10, 2010 6:42am May 10, 2010 6:42am
Quoting Pinbar
LOL

That was so funny....I can imagine it even though I have never dated a FC or gone to a buffet night.



Windows 7 crashed and I had to reinstall everything, maybe just as well.



EJ testing 121...I am just watching this as it is Monday.
Win7 crashed? How's that?
  • #63,262
  • May 10, 2010 7:52am May 10, 2010 7:52am
Quoting neutro
Win7 crashed? How's that?


explorer.exe problem it seems.
After booting up, all program icons disappeared.
Could have fixed it with swapping the exe. file off my laptop but it is better to reformat and reinstall.
  • #63,263
  • May 10, 2010 8:09am May 10, 2010 8:09am
Another fail IPB. In my opinion has all the ingredients of a good IPB but did not end up in the desired direction.
Could we attribute this to ' its a probability thing and even good setups can fail' reasoning?



CY
Attached Image (click to enlarge)
Click to Enlarge Name: gbus_1h.gif Size: 14 KB
  • #63,264
  • May 10, 2010 8:27am May 10, 2010 8:27am
Quoting ertorque
Another fail IPB. In my opinion has all the ingredients of a good IPB but did not end up in the desired direction.
Could we attribute this to ' its a probability thing and even good setups can fail' reasoning?



CY
These are just my thoughts on this and by no means am I experienced with these IPB's.....I'm sure Ghous would be the one to ask.

First, I consider the big picture ...on the daily we have what appears to be a proxy inside pin bar for a long signal....on the 4hr we have what a appears to be a pin bar for a long signal...therefore to go short on the 1hr time frame is very risky in addition that the location is not at a high and the IPB closed above the 1.5 on my chart...further I have not used the IPB on such a short time frame in my short experience...so for me for many reasons NO trade....I am not sure it is a good setup....remember location, location,location with confluences....just my thoughts

  • #63,265
  • May 10, 2010 8:37am May 10, 2010 8:37am
Quoting ertorque
Another fail IPB. In my opinion has all the ingredients of a good IPB but did not end up in the desired direction.
Could we attribute this to ' its a probability thing and even good setups can fail' reasoning?



CY

All due respect and this is not aimed at you ertorque but just a general comment.

I see lots of posts on Inside pinbars but these are not bars that James teaches to play (at least I never did see James mention them and I've been around here for quite a long time).

I would concentrate on the basics of Pinbar/Outside bars first and master these. When people aree very comfortable with the material as James teaches it and have a very good understanding of Support/Resistance it is probably a better time to look into this kind of thing if they want to.

Just my opinion.


cheers FXP
  • #63,266
  • May 10, 2010 8:37am May 10, 2010 8:37am
Quoting ertorque
Another fail IPB. In my opinion has all the ingredients of a good IPB but did not end up in the desired direction.
Could we attribute this to ' its a probability thing and even good setups can fail' reasoning?
I don't know how that bar is a short. I'm always long if price breaks above it.

Maybe G(v)oss will see it differently, but to me, that's a bullish sign
When you have to shoot, shoot. Dont talk.
  • #63,267
  • May 10, 2010 8:37am May 10, 2010 8:37am
Quoting ertorque
Another fail IPB. In my opinion has all the ingredients of a good IPB but did not end up in the desired direction.
Could we attribute this to ' its a probability thing and even good setups can fail' reasoning?



CY
just remember non of these bars are valid untill they BREAK!! no failed bar in that case imho.

jon
PATIENCE... DISCIPLINE
  • #63,268
  • May 10, 2010 8:53am May 10, 2010 8:53am
Quoting ertorque
Another fail IPB. In my opinion has all the ingredients of a good IPB but did not end up in the desired direction.
Could we attribute this to ' its a probability thing and even good setups can fail' reasoning?



CY
I have become a doubter as to whether IPBs should be trusted to indicate the likelihood of the opposite price action of regular PBs. Nearly every IPB I have seen recently has failed to deliver. But maybe most of those have been flawed in some way (bad location, etc.). One idea as to why some of them might work (just something I am pondering) is that sometimes the data can be re-aggregated to show a different PB in the opposite direction (and maybe those could be more trustworthy?). I still watch them with interest whenever I see them and I still read Ghous's posts to hear what he has to say.
  • #63,269
  • May 10, 2010 8:54am May 10, 2010 8:54am
Quoting fxprocessor
All due respect and this is not aimed at you ertorque but just a general comment.

I see lots of posts on Inside pinbars but these are not bars that James teaches to play (at least I never did see James mention them and I've been around here for quite a long time).

I would concentrate on the basics of Pinbar/Outside bars first and master these. When people aree very comfortable with the material as James teaches it and have a very good understanding of Support/Resistance it is probably a better time to look into this kind of thing if they want...
I agree. PBs are a lot easier to trade.
"Fail to prepare, prepare to fail."
  • #63,270
  • May 10, 2010 8:59am May 10, 2010 8:59am
Quoting bundyraider
BK, that's the compiled indicator file . To modify it you'd need the original code.

Look for the same file name with the .mq4 extension instead of the .ex4 one.
Agreed. But if the mq4 file is not available for some reason, the ex4 file could probably be decomplied and modified.
  • #63,271
  • May 10, 2010 9:11am May 10, 2010 9:11am
Quoting Steve0001
Agreed. But if the mq4 file is not available for some reason, the ex4 file could probably be decomplied and modified.
Have heard that.

I'd consider modifying the original code myself, but if it needs decompiling someone else can tackle it.
Bundy's status today: "Waiting..."
  • #63,272
  • May 10, 2010 9:18am May 10, 2010 9:18am
Should be a good location for a lower time frame trade.

Anyone take the daily pin??

I have to admit, I totally only just seen it 15 mins ago. LOL
Attached Image (click to enlarge)
Click to Enlarge Name: cable trade location idea.gif Size: 15 KB
Bundy's status today: "Waiting..."
  • #63,273
  • Edited 11:07am May 10, 2010 9:52am | Edited 11:07am
Watching the 4hour on GU. Any thoughts on the setup. May take on demo on the break and set FTA at the 38.2. Assuming it closes as a PB

Sold Half, At BE now
Attached Image (click to enlarge)
Click to Enlarge Name: gu-h4.gif Size: 17 KB
  • #63,274
  • May 10, 2010 10:10am May 10, 2010 10:10am
Quoting Atc
These are just my thoughts on this and by no means am I experienced with these IPB's.....I'm sure Ghous would be the one to ask.

First, I consider the big picture ...on the daily we have what appears to be a proxy inside pin bar for a long signal....on the 4hr we have what a appears to be a pin bar for a long signal...therefore to go short on the 1hr time frame is very risky in addition that the location is not at a high and the IPB closed above the 1.5 on my chart...further I have not used the IPB on such a short time frame in my short experience...so...
Hey thanks ATC, you summed it up pretty well. I understand while the big picture is signalling towards long but I felt that it is okay to play a slight retracement given the setup conditions at that particular moment (1H TF). After all the IPB Take Profit is at the end of the long tail which is really not that large a CT movement. I think the fact that the close is not below 1.5 spelt the demise of this trade. I dunno maybe also because it is the 1H TF......

Quoting joelcf
I don't know how that bar is a short. I'm always long if price breaks above it.

Maybe G(v)oss will see it differently, but to me, that's a bullish sign
Hey Joel,
IPB is played by entering at the close of the bar unlike 'regular' PBs.

Quoting g_j_hook@yah
just remember non of these bars are valid untill they BREAK!! no failed bar in that case imho.

jon
Hey Jon,
IPBs are entered at the close of the bar or at least that is how Ghous plays it under the right locations
  • #63,275
  • May 10, 2010 10:27am May 10, 2010 10:27am
Quoting ertorque


Hey Jon,
IPBs are entered at the close of the bar or at least that is how Ghous plays it under the right locations
my mistake, you are correct. but that is ghous' method only. the traditional method is to wait for confirmation i.e. the break. this is also why Ghous takes profit so early on these bars.
cheers
jon
PATIENCE... DISCIPLINE
  • #63,276
  • Edited 12:36pm May 10, 2010 11:09am | Edited 12:36pm
Quoting slade1986
Watching the 4hour on GU. Any thoughts on the setup. May take on demo on the break and set FTA at the 38.2. Assuming it closes as a PB
Hi slade1986,

here's my take on it (consider that I'm relatively new to this thread).

The position is nice (Fib confluence, VBRN, with downtrend). Though there is some traffic at around 1.4930 and price bounced off the 61.8 Fib of the last weekly upmove which may indicate that price is only about for a minor retracement.

Furthermore I don't think it's a very beautiful PB, at least on my chart: The nose is too short an it's not protruding that much.
That's enough for me to not take this PB. I'm not sure, maybe some of the experts in here can tell if I'm overanalyzing things here.

As I am writing this price dropped to 1.4880. It worked out better than I've expected.
Thanks J16, Sam Seiden, Udine and Jacko
  • #63,277
  • May 10, 2010 11:13am May 10, 2010 11:13am
I also agree
James says we must trade the only standard pinbar on the daily chart.
But some also trade pin bars on the 4H chart.
is a profitable strategy?
  • #63,278
  • May 10, 2010 11:35am May 10, 2010 11:35am
Can someone give me a quick run down on the inverted pin bar? I'm picking up posts here and there and stuggling to form a coherent picture of it. The first thing is, if there's an IPB at a swing high, is the implication bullish or bearish?
  • #63,279
  • May 10, 2010 11:42am May 10, 2010 11:42am
Quoting Daneel
Can someone give me a quick run down on the inverted pin bar? I'm picking up posts here and there and stuggling to form a coherent picture of it. The first thing is, if there's an IPB at a swing high, is the implication bullish or bearish?
Hey Dan,

This is what I have on IPB
http://www.forexfactory.com/showpost...ostcount=52647

CY
  • #63,280
  • May 10, 2010 11:49am May 10, 2010 11:49am
Quoting HanSolo
Hi slade1986,

here's my take on it (consider that I'm relatively new to this thread).

The position is nice (Fib confluence, VBRN, with downtrend). Though there is some traffic at around 1.4930 and price bounced off the 61.8 Fib of the last weekly upmove which may indicate that price is only about for a minor retracement.

Furthermore I don't think it's a very beautiful PB, at least on my chart: The nose is too short an it's not protruding that much.
That's enough for me to not to take this PB. I'm not sure, maybe some of the experts in here can...
Yeah but thatīs ok, I like your analyses, youīre picky and thatīs always right I touchtraded from this confluence with 1/3 positionsize, had to try it. I mainly trade daily so that was new to me.
Attached Image (click to enlarge)
Click to Enlarge Name: GU5.GIF Size: 21 KB
353 traders viewing now