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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

  • #65,701
  • Jun 7, 2010 11:53pm Jun 7, 2010 11:53pm
Quoting jarroo
Well . . . I was asking the about the Weekly PB in blue. Now that we have seen how it performed, we can make some conclusions about how it worked out and some reasons why it didn't work out.

Probably the first and foremost reason was quite simple why it didn't work out well . . .The size was too small compared to the previous bars and to counter the strong move down.

It did reach its FTA, albeit a short distance away.

Oh, Sorry Jarroo. I naturally assumed I had to find some more complicated reason.

Still, maybe I was in the same ball park, sort of, with the Monthly Bearish candle being so big.

In future if you ask me about a weekly candle, I will confine my analysis to the weekly.

Actually, maybe this highlights a problem I have, looking at too many time frames and complicating things to the point where it becomes impossible to pull the trigger.
  • #65,702
  • Jun 7, 2010 11:59pm Jun 7, 2010 11:59pm
Quoting Dan Gilbert
wow look at this pin! you think I should take it long?
oh wow, bullish pinbar, with a Loooooooong nose & a TON of space
stop loss below the looooong nose
  • #65,703
  • Jun 8, 2010 12:07am Jun 8, 2010 12:07am
Quoting Pinbar
Oh, Sorry Jarroo. I naturally assumed I had to find some more complicated reason.

Still, maybe I was in the same ball park, sort of, with the Monthly Bearish candle being so big.

In future if you ask me about a weekly candle, I will confine my analysis to the weekly.

Actually, maybe this highlights a problem I have, looking at too many time frames and complicating things to the point where it becomes impossible to pull the trigger.
Yeah, its important to stay on the same time frame that the setup was given. For S/L, targets, PPZ level. This is good because many people go down to lower time frames for clues to "help" them. It only gets confusing.

But it is always good to look to the higher time frame that the setup was given to look for clues for help. Meaning, a setup on the Daily is good to look at the Weekly and Monthly for trends, PPZ level, etc. You said it perfectly the Monthly Bearish candle being so big.
Indicators show the past. Price Action "Indicates" the future.
  • #65,704
  • Jun 8, 2010 12:07am Jun 8, 2010 12:07am
Quoting supremeChaos
oh wow, bullish pinbar, with a Loooooooong nose & a TON of space
stop loss below the looooong nose
and full profit at Jarroo's first trouble area makes up for a brilliant trade in terms of risk:reward.

Nice catch Dan!

g.
I believe . . .
  • #65,705
  • Jun 8, 2010 12:09am Jun 8, 2010 12:09am
Quoting ghous
and full profit at Jarroo's first trouble area makes up for a brilliant trade in terms of risk:reward.

Nice catch Dan!

g.
I would still manage that one tightly. lol
Indicators show the past. Price Action "Indicates" the future.
  • #65,706
  • Jun 8, 2010 12:10am Jun 8, 2010 12:10am
Quoting ghous
and full profit at Jarroo's first trouble area makes up for a brilliant trade in terms of risk:reward.

Nice catch Dan!

g.
I'm in for a 1% risk on the full bar... one nano lot was almost too big of a size!
Many choose unhappiness over uncertainty.
  • #65,707
  • Jun 8, 2010 12:13am Jun 8, 2010 12:13am
Quoting Dan Gilbert
I'm in for a 1% risk on the full bar... one nano lot was almost too big of a size!
See people? We can take any length of the market and risk whatever we want on it.

Dan's normal 10 Std trade volume shrinks to a nano lot but the risk stays at 1%...ooohhh I like MM!

I believe . . .
  • #65,708
  • Jun 8, 2010 12:14am Jun 8, 2010 12:14am
Quoting supremeChaos
oh wow, bullish pinbar, with a Loooooooong nose & a TON of space
stop loss below the looooong nose

That Daily PB has zero space (traffic) sChoas. If the hourly had a PB now that would have space.
Indicators show the past. Price Action "Indicates" the future.
  • #65,709
  • Jun 8, 2010 12:14am Jun 8, 2010 12:14am
Quoting jarroo
Yeah, its important to stay on the same time frame that the setup was given. For S/L, targets, PPZ level. This is good because many people go down to lower time frames for clues to "help" them. It only gets confusing.

But it is always good to look to the higher time frame that the setup was given to look for clues for help. Meaning, a setup on the Daily is good to look and the Weekly and Monthly for trends, PPZ level, etc. You said it perfectly the Monthly Bearish candle being so big.

We have a clear area for a possible break short and also a well defined FTA.
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  • #65,710
  • Jun 8, 2010 12:17am Jun 8, 2010 12:17am
Quoting Pinbar
We have a clear area for a possible break short and also a well defined FTA.
What bar are you talking about Pb?
Indicators show the past. Price Action "Indicates" the future.
  • #65,711
  • Jun 8, 2010 12:26am Jun 8, 2010 12:26am
Quoting jarroo
What bar are you talking about Pb?

Well, I don't see any setups yet, so I was commenting only on the area.

Looking at H4 we may have a possible IB forming but I doubt such a bar on H4 is going to break that monthly PPZ at 0.6560
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  • #65,712
  • Jun 8, 2010 12:38am Jun 8, 2010 12:38am
Quoting jarroo
That Daily PB has zero space (traffic) ..
space = no traffic, right?
i think we may have said it differently, but we mean the same thing.


Quoting Pinbar
..
Looking at H4 we may have a possible IB forming but I doubt such a bar on H4 is going to break that monthly PPZ at 0.6560
if USD continues to strengthen, that PPZ breaking is a possibility, IMHO
  • #65,713
  • Jun 8, 2010 12:39am Jun 8, 2010 12:39am
Quoting Pinbar
Well, I don't see any setups yet, so I was commenting only on the area.

Looking at H4 we may have a possible IB forming but I doubt such a bar on H4 is going to break that monthly PPZ at 0.6560
Looks like we could be in a consolidation area on the Daily. The Weekly clearly shows a strong trend downward. I'm sure that trend is eyeballing the .6500 (BRN).

If on the 4 hour, I would like to see another swing high maybe up by this white box, for some nice bearish PA. But then again the downward trend could be strong enough for even a bearish IB at the .6600.
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Indicators show the past. Price Action "Indicates" the future.
  • #65,714
  • Jun 8, 2010 12:43am Jun 8, 2010 12:43am
Quoting supremeChaos
space = no traffic, right?
i think we may have said it differently, but we mean the same thing.


Dan's PB has alot of traffic. There is no space for that PB to run. Heading right into traffic. There's no traffic or space below the entry of that PB but we are not entrering there.
Indicators show the past. Price Action "Indicates" the future.
  • #65,715
  • Jun 8, 2010 12:51am Jun 8, 2010 12:51am
Ah, yes Sir, i see now.
it's my fault. i was referring to the space to the left of the PB, but u were pointing to the possible traffic above the PB which im fully aware of.
regardless, the PB's got a looooong nose, im buying
  • #65,716
  • Jun 8, 2010 1:25am Jun 8, 2010 1:25am
Quoting supremeChaos
Ah, yes Sir, i see now.
it's my fault. i was referring to the space to the left of the PB, but u were pointing to the possible traffic above the PB which im fully aware of.
regardless, the PB's got a looooong nose, im buying

You would think with such BIG Pin Bars they would have at least reach the FTAs. lol
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Indicators show the past. Price Action "Indicates" the future.
  • #65,717
  • Jun 8, 2010 1:43am Jun 8, 2010 1:43am
Quoting elizo
Hi,

I had to delete my original post when I saw the 4h GBPUSD chart was already posted. But since there is some debate on this, I will add my reasoning. Hopefully the senior members will assess on this.

Apologies for the redundancy if someone feels I have incurred on it.

[i]I would like to submit this for comments. I think it's a proper A+ trade. I...
Ok, this is the part I think it's key: setup was there, we pulled the trigger. Now, trade management. Hopefully the senior members will help here.

As you can see in the attached chart, price tried to go south but was supported around 4460, then came up precisely to my first salmon area and apparently was rejected from there. My point is: we have let price to show its face. I would have rather preferred a move down straight forward, but since it came up and it's making a new try to lows... what would you do here?

My opinion is to treat it aggressively, which means to move SL to BE once we challenge that 4460 area again. But would it be better to be patient and just move SL above the recent highs, on the lower salmon area?

Any comments, suggestions, views... more than welcome. I think this is the key point to advance in trading for me: make a dynamic analysis of what's going on instead of just hoping, praying, etc...

Thanks again
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  • #65,718
  • Jun 8, 2010 1:47am Jun 8, 2010 1:47am
Quoting nasir.khan
Gold would also be interesting to watch (maybe next week).

BRN+DIVG+Double Top+ TL

.
Anyone remember that.
Now lets see what we get here.


Btw this could've been a nice ride up from 1200 to 1250 but it came back and took me out at BE.


P.S: Anyone for Punjabi music.


.
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  • #65,719
  • Jun 8, 2010 1:48am Jun 8, 2010 1:48am
Quoting nasir.khan
Anyone remember that.
Now lets see what we get here.


Btw this could've been a nice ride up from 1200 to 1250 but it came back and took me out at BE.


P.S: Anyone for Punjabi music.


.

I saw that Gold chart before the NFP, nasir. Wow. . . . BE! . .
Indicators show the past. Price Action "Indicates" the future.
  • #65,720
  • Edited 2:10am Jun 8, 2010 1:58am | Edited 2:10am
Quoting elizo
Ok, this is the part I think it's key: setup was there, we pulled the trigger. Now, trade management. Hopefully the senior members will help here.

As you can see in the attached chart, price tried to go south but was supported around 4460, then came up precisely to my first salmon area and apparently was rejected from there. My point is: we have let price to show its face. I would have rather preferred a move down straight forward, but since it came up and it's making a new try to lows... what would you do here?

My opinion is to treat it aggressively,...

Its not at bad setup eli. But its not the best either. I would manage it, as you said, aggressively.

I like your targets, protect them. Meaning protect yourself from a loss once they are hit.
Indicators show the past. Price Action "Indicates" the future.
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