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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

  • #64,601
  • May 23, 2010 8:34pm May 23, 2010 8:34pm
Quoting Togu
So you are in Japan Pinbar? I see an old japanese apartment.
Yes, it is actually a mansion. What a joke.

That is the tatami room you are looking at.
  • #64,602
  • May 23, 2010 8:41pm May 23, 2010 8:41pm
Quoting Dan Gilbert
you actually bought one of those joel? Aren't they something like $2,000 USD?
That might be RRP - I imported mine from the US for around $1600 from memory. After depreciating it for tax, it comes out to under a thousand bucks. Which might sound like a lot, but look at it from a $/hr perspective over 5 years...

Best money I ever spent. Used to get pretty debillitating back pain from sitting for a long time (which I do far, far too much of) which has completely vanished. The OH&S girl at work basically told me that if I didnt get a chair that suited my height and frame, I'd end up one of those cranky old men with chronic lower back pain, who are always bitching about their chronic lower back pain.

There is a cheaper alternative which they also recommended and was really comfortable - the Humanscale Freedom. About half the price.

Quoting Pinbar
Chairs.....Here's mine but these two guys steal it from me at every chance they get.
The grey cat looked like he just tried to short the swissie. Not happy at all!
When you have to shoot, shoot. Dont talk.
  • #64,603
  • Edited 8:59pm May 23, 2010 8:47pm | Edited 8:59pm
Just studying a bit more about confluence and looking at CAD/JPY

We seem to be just below a strong weekly pivot pivot at BRN 86.00.
50 & 38.2 fibo not too far apart, trend line kind of iffy.

I am not thinking of jumping into this at the break or anything, just thinking it may be interesting to watch this week to see if we have any decent PA confirmation of these areas.

I am just trying to get my brain working in the right mode without drawing bird cages all day.

Edit: I missed an important factor, that being that today's bar has found support off of the Monthly pivot.
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  • #64,604
  • May 23, 2010 9:03pm May 23, 2010 9:03pm
Quoting joelcf

There is a cheaper alternative which they also recommended and was really comfortable - the Humanscale Freedom. About half the price.
maybe I'll reward myself with one of those when I can prove my futures trading on a live account for a year or so . until then, this here $40 chair will be fine.
Many choose unhappiness over uncertainty.
  • #64,605
  • May 23, 2010 9:07pm May 23, 2010 9:07pm
Quoting joelcf
That might be RRP - I imported mine from the US for around $1600 from memory. After depreciating it for tax, it comes out to under a thousand bucks. Which might sound like a lot, but look at it from a $/hr perspective over 5 years...

Best money I ever spent. Used to get pretty debillitating back pain from sitting for a long time (which I do far, far too much of) which has completely vanished. The OH&S girl at work basically told me that if I didnt get a chair that suited my height and frame, I'd end up one of those cranky old men with chronic...
thanks for the info Joel, I was looking into getting the aeron model, lower back issues run in my family with my mother have 4 surgeries and is limited greatly in everything she can do. I have felt hints at my lower back and I think simply b/c of my fitness routines I am ok since I sit most of the day as well. Don't want to wait till it gets bad

Going to look into these too

Thanks
Mike
  • #64,606
  • May 23, 2010 9:14pm May 23, 2010 9:14pm
Quoting mbqb11
I have felt hints at my lower back and I think simply b/c of my fitness routines I am ok since I sit most of the day as well.
heavy deadlifting ftw.
Many choose unhappiness over uncertainty.
  • #64,607
  • May 23, 2010 9:32pm May 23, 2010 9:32pm
Quoting Dan Gilbert
heavy deadlifting ftw.
Squats and deads with bad form (aka being a teenager) are pretty much how my back got so bad in the first place

Quoting mbqb11
Don't want to wait till it gets bad
Absolutely man, most of the damage you do there is permanent - risk management seems to be the key to life
When you have to shoot, shoot. Dont talk.
  • #64,608
  • May 23, 2010 10:04pm May 23, 2010 10:04pm
Quoting mbqb11
thanks for the info Joel
....lower back issues run in my family with my mother have 4 surgeries and is limited greatly in everything she can do....
wow, your mother is a trader too?!?!

Good decision Mike (& Dan Gilbert).
we should trade well & stay healthy at the same time.
i'll do the same (improve my chair) as soon as i can.
  • #64,609
  • May 23, 2010 10:05pm May 23, 2010 10:05pm
Quoting joelcf
$40 for a chair is pocket change for something you spend thousands of hours sitting on.
You can pry my Embody from my cold, dead hands. Or should that be ass?
...
oh wow, nice chair.
nice price.
but i bet HM chairs are worth it..
many thanks for sharing

(doesnt the chair get whacked around during the air travel/delivery phase)


Quoting joelcf
That might be RRP - I imported mine from the US...
..
The OH&S girl at work...
OH&S?
at first i thought it was a office furniture store...
.....

ok:
OH&S = Occupational Health and Safety

Quote
..The grey cat looked like he just tried to short the swissie. Not happy at all!
for the first time, u are wrong joel!
that cat is looking for pinbars at extreme swing lows
  • #64,610
  • Edited 11:48pm May 23, 2010 10:11pm | Edited 11:48pm
Quoting joelcf
Squats and deads with bad form (aka being a teenager) are pretty much how my back got so bad in the first place
wow, this guy is using too much non trading-related jargon

squats & deadlifts = leg exercises (deadlift mainly for thighs & back)

u are confusing too many people. who knows, people might ask u one day "what kind of PA setups are squats & deads?" hahah

Quote
Absolutely man, most of the damage you do there is permanent - risk management seems to be the key to life
yup, the spine is part of the body's core.
it's crucial that we keep it stable & strong.
abdominal & back exercises will keep our back very healthy. no trader should make an excuse - all should do exercises.
  • #64,611
  • May 23, 2010 10:24pm May 23, 2010 10:24pm
Quoting Pinbar
Jarroo

Here is the NZD/USD chart.

For some reason this seemed really hard in the sense that I instinctively wanted to add more and more lines and , had to battle with myself to stop drawing them. I must have drawn the pzz 30 times then trashed the chart.

Funnily enough, I feel there are way too many lines yet at the same time, I still think I need another couple. Weird.


EDIT: Here is GBP/USD again, it will probably now not look the same as the last chart.
This I shall investigate.


PS: Could not upload GU H4 as the file limit is hit....
Quoting HanSolo
Well, I'm still experimenting. But it's easier for me to just spot the most important ones on the monthly and then move down to the weekly and daily. This way I don't have to worry too much about missing some minor PPZ. If they are of greater significance I will spot them on the next lower TF anyway.

Hans
Your getting better Pinbar. Remember we're just looking at the points or areas were Support turns into Resisance and vice veras. Like Hans' posts starting with the Monthly, Weekly and then Daily. Then fine tune them around round numbers. Just the key big levels. We're looking for PA on the Daily and Weekly at these levels.

Gu:
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Indicators show the past. Price Action "Indicates" the future.
  • #64,612
  • May 23, 2010 10:29pm May 23, 2010 10:29pm
Quoting Pinbar
Jarroo


I saw USDMXN and it looked extremely hard, so I did this one also.
When your looking for just "Price Flips" or where Sup and Res meet, it should be easy after some practise.

You'll get there.
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Indicators show the past. Price Action "Indicates" the future.
  • #64,613
  • May 23, 2010 10:36pm May 23, 2010 10:36pm
Quoting Pinbar
Jarroo

Here is the NZD/USD chart.
The fewer and stronger lines the better.
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Indicators show the past. Price Action "Indicates" the future.
  • #64,614
  • May 23, 2010 10:41pm May 23, 2010 10:41pm
the tied up price on 1.15 on USDCHF is interesting!
Many choose unhappiness over uncertainty.
  • #64,615
  • May 23, 2010 10:59pm May 23, 2010 10:59pm
Quoting jarroo
Your getting better Pinbar. Remember we're just looking at the points or areas were Support turns into Resisance and vice veras. Like Hans' posts starting with the Monthly, Weekly and then Daily. Then fine tune them around round numbers. Just the key big levels. We're looking for PA on the Daily and Weekly at these levels.

Gu:

Hello Jarroo: on GBPUSD daily is there a valid pinbar (pinbar closed below the left eye)?
  • #64,616
  • Edited 11:15pm May 23, 2010 11:02pm | Edited 11:15pm
Quoting extraneo
Hello Jarroo: on GBPUSD daily is there a valid pinbar (pinbar closed below the left eye)?
this is technically not a pinbar E it must close within the prior bar

Mike
  • #64,617
  • May 23, 2010 11:08pm May 23, 2010 11:08pm
Quoting extraneo
Hello Jarroo: on GBPUSD daily is there a valid pinbar (pinbar closed below the left eye)?
Do you mean on the Weekly?

It might be valid by proxy, the weekly low of 3 weeks ago, but no it's not technically correct in its structure. Also the size doesn't show much strength as a viable setup.

Edit: Thanks Mike.
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Indicators show the past. Price Action "Indicates" the future.
  • #64,618
  • May 23, 2010 11:09pm May 23, 2010 11:09pm
Quoting mbqb11
this is technically not a pinbar E it must close within the priors bar

Mike

thanks mike
maybe I'm starting to learn something
  • #64,619
  • Edited 1:01am May 24, 2010 12:45am | Edited 1:01am
Many thanks Jarroo.

Yes, I am trying to reduce the lines or rather limit them to good target areas.

I feel the pastel colors help as they distract the eye less but stand out well enough to be PPZ.

I have just gone back over the NZD/USD chart and taken my time without looking at your chart, and low and behold slowly I am starting to see the price flips or at least where both S&R have come into play.

Interestingly enough, I seemed to find an extra PPZ (in blue) and would like to ask your thoughts on this one, as you seemed to ignore it.

Thanks Jarroo you are a great encouragement in the battle of trying to reprogram my brain to see these areas.


Please throw me another test pair when you have time.


EDIT:
Here is GBP/USD done in a similar frame of mind.
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  • #64,620
  • May 24, 2010 1:50am May 24, 2010 1:50am
jarroo, is this your favorite pin? I am waiting for scale in by break of H4 beob if it be closed as it is.
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