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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

  • #65,641
  • Jun 7, 2010 7:35am Jun 7, 2010 7:35am
Hi folks

can you give me a 2nd opinion on this potential pb?

its off

a brn
a sigificant ppz on the higher tfs
is in space (sort of)

is the nose long enough to reverse the trend ?

cheers
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  • #65,642
  • Jun 7, 2010 8:01am Jun 7, 2010 8:01am
Quoting antgal23
Hi folks

can you give me a 2nd opinion on this potential pb?

its off

a brn
a sigificant ppz on the higher tfs
is in space (sort of)

is the nose long enough to reverse the trend ?

cheers
Hi there,

In my opinion the bar is simply not big enough to be anything meaningful.

As we know often price "drifts" up and down all day long. It just so happens that sometimes our open and close fall at such a time that the "illusion" of a Pin Bar is given. And although by definition the Pin in this example is completely valid, It does not really give us any compelling evidence that the buyers are overpowering the sellers at this level. So I would pass on this one

J
  • #65,643
  • Jun 7, 2010 8:39am Jun 7, 2010 8:39am
thanks for the comments J
  • #65,644
  • Jun 7, 2010 9:25am Jun 7, 2010 9:25am
Quoting antgal23
Hi folks

can you give me a 2nd opinion on this potential pb?

its off

a brn
a sigificant ppz on the higher tfs
is in space (sort of)

is the nose long enough to reverse the trend ?

cheers
That thing's been all over the place recently,

here's a chart.

g.
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I believe . . .
  • #65,645
  • Jun 7, 2010 10:14am Jun 7, 2010 10:14am
Hi Guys,

I have recently discovered this thread and would firstly like to thank all the regular contributors for making this such a great place to learn about PA.
I have now read up to page 300 and have decided that i am very interested in joining the PF. Could you please tell me if it is still regularly updated and still reasonably active.


Thanks

Sid
  • #65,646
  • Jun 7, 2010 10:43am Jun 7, 2010 10:43am
Quoting ghous
That thing's been all over the place recently,

here's a chart.

g.

Very nice G

Also you guys are going to drive yourselves made by watching the daily for potentials with this much time left. Starting cruising your charts about an hour before when things are more settled.

Here would be a better area to watch into


Best
Mike
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  • #65,647
  • Jun 7, 2010 11:18am Jun 7, 2010 11:18am
Poitier,

I have been a member since last December and it is still regularly updated.

In fact I would say that it has gotten even busier since I joined, plenty of webinar (video) activity at the moment.

Phil.
  • #65,648
  • Jun 7, 2010 12:01pm Jun 7, 2010 12:01pm
Quoting Jonnyislost
Hi Novice,

Perhaps "space" was not the term I should have used. However Mike posted an excellent video in this thread about the importance of space (hope he doesn't mind me reposting it here http://drop.io/cfnoat3 )


What I mean with this location is, We are at a swing low point, and the FTA is very close (1.4260 as you stated)

We have no idea what type of order flow we have below those bar lows, as the price hasn't visited that area for over a year.

So personally if I was to play it, I'd be taking full profit before those...
nope not at all J thanks. I don't know how long that stays up there I should prob get that in the guest

Mike
  • #65,649
  • Jun 7, 2010 12:04pm Jun 7, 2010 12:04pm
EUR/GBP

This looks like we may have a potential Long setup forming.

2 fibos, trendline and a nice PPZ in a nice area at a swing low.

Seems to be plenty of space around the bar.
Now all we need is for it end as a Bullish PB.

Perhaps the size of the bar is not so good.


EDIT: Maybe we have an H4 setup right now.
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  • #65,650
  • Jun 7, 2010 12:04pm Jun 7, 2010 12:04pm
Quoting Dan Gilbert
Divergence should only be used in sideways markets. Using divergence during strong trends gives many many false signals. Take the macd/rsi off your charts completely for better trading.
I would disagree here Dan, although what you are saying is smart. If you are in a strong trending market, it could show divergence for a long time. If you just try to base your trade off divergence your going to eat it in a trending market. The point is to understand not only that price might be oversold/overbought but then to use that information appropriately. So in a strong trending market I like to see divergence, but I will still wait for a good location with a strong bar to confirm things. But I have to disagree about taking it off your charts, I find it a very valuable "tool". Of course every trader finds different things valuable like those that glean value from MAs and I don't. But I don't tell people to pull them off.

The key to anything is only use something if it adds value.

Best
Mike
  • #65,651
  • Jun 7, 2010 12:05pm Jun 7, 2010 12:05pm
Quoting poitier
Hi Guys,

I have recently discovered this thread and would firstly like to thank all the regular contributors for making this such a great place to learn about PA.
I have now read up to page 300 and have decided that i am very interested in joining the PF. Could you please tell me if it is still regularly updated and still reasonably active.


Thanks

Sid
Hi Sid,

The PF is always active, plenty of info to keep you occupied. Although everything you need to become successful is contained in this thread. If you read through the whole thing and start backwards and forwards testing, and asking lots of questions, you'll soon find yourself on the right track.. hang on you're already here

Best
Chris
  • #65,652
  • Jun 7, 2010 12:11pm Jun 7, 2010 12:11pm
Quoting Pinbar
EUR/GBP

This looks like we may have a potential Long setup forming.

2 fibos, trendline and a nice PPZ in a nice area at a swing low.

Seems to be plenty of space around the bar.
Now all we need is for it end as a Bullish PB.

Perhaps the size of the bar is not so good.
Hey Pinbar,

just wondering what that red line running across your first chart is supposed to mean? Is it supposedly a trend line?
I believe . . .
  • #65,653
  • Jun 7, 2010 12:11pm Jun 7, 2010 12:11pm
Quoting mbqb11

The key to anything is only use something if it adds value.

Best
Mike
Absolutely Mike. I'd agree though, divergence can be used in all market conditions. In any trending market there are always pullbacks. If we get fib levels, price action and divergence (normally hidden divergence in a trend) lining up, then it's green lights all the way. It's never off my charts, but like you say, it's what you're comfortable with that counts.

Here's a link to explain hidden divergence for those that aren't sure:
http://www.babypips.com/school/hidden_divergence.html

Chris
  • #65,654
  • Jun 7, 2010 12:12pm Jun 7, 2010 12:12pm
Quoting ghous
Hey Pinbar,

just wondering what that red line running across your first chart is supposed to mean? Is it supposedly a trend line?

The horizontal line on the daily? It is just sweet spots gold 0.8500
  • #65,655
  • Jun 7, 2010 12:23pm Jun 7, 2010 12:23pm
Quoting Pinbar
The horizontal line on the daily? It is just sweet spots gold 0.8500
this one...

If it's a trend line it is erroneously drawn. A trend line is either used to connect only lows or only highs and once price breaks through it, it looses it's value completely unless you want to watch price retrace to it for the first time after the break.

Your trend line has been violated multiple times and hence has no value.

g.
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I believe . . .
  • #65,656
  • Jun 7, 2010 12:28pm Jun 7, 2010 12:28pm
Quoting ghous
this one...

If it's a trend line it is erroneously drawn. A trend line is either used to connect only lows or only highs and once price breaks through it, it looses it's value completely unless you want to watch price retrace to it for the first time after the break.

Your trend line has been violated multiple times and hence has no value.

g.
Hey G

Actually many people use trendlines in that manner. Think of them as diagonal PPZ. Again I would be nervous seeing newer traders doing that before doing the real basics and adding as they go. But that can just be a product of how I learn so that is unfair of me too

Mike
  • #65,657
  • Jun 7, 2010 12:29pm Jun 7, 2010 12:29pm
Quoting ghous
this one...

If it's a trend line it is erroneously drawn. A trend line is either used to connect only lows or only highs and once price breaks through it, it looses it's value completely unless you want to watch price retrace to it for the first time after the break.

Your trend line has been violated multiple times and hence has no value.

g.
EDIT: Yes, it is a TL.

Really, I was under the obvious misguided impression that, as long as resistance was met at the line before the break, it was still valid.
I mean, a PPZ is basically the same is it not, only the TL is diagonal?

Because a PPZ has been violated, we do not call it invalid.
  • #65,658
  • Jun 7, 2010 12:30pm Jun 7, 2010 12:30pm
Quoting mbqb11
Hey G

Actually many people use trendlines in that manner. Think of them as diagonal PPZ. Again I would be nervous seeing newer traders doing that before doing the real basics and adding as they go. But that can just be a product of how I learn so that is unfair of me too

Mike

Great, synchronization there.

Yes, I have always used them like this and was taught that way.

I have a DEMO order in place.
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  • #65,659
  • Jun 7, 2010 12:36pm Jun 7, 2010 12:36pm
Quoting Pinbar
Great, synchronization there.

Yes, I have always used them like this and was taught that way.
and that is what James wants people to do. Take what they already know and like and add what he teaches. You can't go wrong. Really. Just have to put in the time and see where you land.

Keep at it pin

Mike
  • #65,660
  • Jun 7, 2010 12:36pm Jun 7, 2010 12:36pm
GBPUSD h4
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