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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

  • #67,401
  • Jun 25, 2010 6:00am Jun 25, 2010 6:00am
Quoting datogio
Hi. I was thinking to enter without PA, but couldn't dare, later I missed bearish PB on 4H.
I see now thanks
Sigh.......... the uncertainty of touch trades..........
  • #67,402
  • Jun 25, 2010 6:01am Jun 25, 2010 6:01am
Quoting ertorque
I see now thanks
Sigh.......... the uncertainty of touch trades..........
  • #67,403
  • Jun 25, 2010 6:18am Jun 25, 2010 6:18am
Hi GUys,
Ive been avidly reading this thread for months now, this is my first post, so was just wondering if what anyone thought of the following. Its on the Eur/USD 15 min... looks like a nice double pinbar. I went long at 2271 after the second pin and have pulled my stop up to 71 once the price hit 89... hopefully we get a nice run.
Attached Image (click to enlarge)
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  • #67,404
  • Edited 6:35am Jun 25, 2010 6:20am | Edited 6:35am
Did you ever saw your TP not getting hit by 1 pip due to spread and then vanish in 5 minutes afterwards ? I just did on EurAud earlier. x( (closed on a 10 pip profit instead of 45)
But despite the potential profit loss, I am glad I got my target wright, that is more important.
  • #67,405
  • Jun 25, 2010 6:31am Jun 25, 2010 6:31am
Quoting jarroo
The Rac special . . . 1.5000, 30 pip stop loss.
That's exactly what I was talking about related to the Gu setup. It has that "Raccy" look to it which gives the experienced eye a heads up on sound locations.

A "jarroo" can look cool taking and managing these but we know what taking these can do to a newbie right?

Reminds me of the time when I was trying to copy jarroo about a year and a half ago...eeeehhh! Scary dreadful times for sure

g.
I believe . . .
  • #67,406
  • Jun 25, 2010 6:56am Jun 25, 2010 6:56am
I'm out for the rest of the day, have pipped enough, I wish all of you a nice weekend. C'ya.
  • #67,407
  • Jun 25, 2010 6:57am Jun 25, 2010 6:57am
Quoting mordre
Did you ever saw your TP not getting hit by 1 pip due to spread and then vanish in 5 minutes afterwards ? I just did on EurAud earlier. x( (closed on a 10 pip profit instead of 45)
But despite the potential profit loss, I am glad I got my target wright, that is more important.
Yeah this happens, it sucks.

Quoting FiveEights
Hi GUys,
Ive been avidly reading this thread for months now, this is my first post, so was just wondering if what anyone thought of the following. Its on the Eur/USD 15 min... looks like a nice double pinbar. I went long at 2271 after the second pin and have pulled my stop up to 71 once the price hit 89... hopefully we get a nice run.
Sweet trade, really good location. Here's how I see it on the 5Min -

Attached Image (click to enlarge)
Click to Enlarge Name: eu5min.gif Size: 24 KB



I reckon we will hit 1.2346 before coming back down. First post ? Have you done the three months daily demo ? It really builds the patience you need to succeed on the lower timeframes.

Quoting ghous
That's exactly what I was talking about related to the Gu setup. It has that "Raccy" look to it which gives the experienced eye a heads up on sound locations.

A "jarroo" can look cool taking and managing these but we know what taking these can do to a newbie right?

Reminds me of the time when I was trying to copy jarroo about a year and a half ago...eeeehhh! Scary dreadful times for sure

g.
Just something I have been tihnking about on touch trading :

Not to say touch trading isn't great, but I think it can be improved by just using 5/15Minute PA to give an extra edge.
Attached Image (click to enlarge)
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Here's the 1.50 from yesterday, pinbar and boom. This stuff happens so often it's actually mad. The only (massive) problem is the time required to watch it waiting for the PA.
  • #67,408
  • Jun 25, 2010 7:11am Jun 25, 2010 7:11am
The trendline looks to have provided some support. There was a nice 30 minute pin off it that I would have been all over were it not friday afternoon.

Attached chart is 4hr view showing trendline bounce.
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  • #67,409
  • Jun 25, 2010 7:13am Jun 25, 2010 7:13am
Small time frame PA can be great at right location for sure mate.

Quoting Jigsaw
Yeah this happens, it sucks.



Sweet trade, really good location. Here's how I see it on the 5Min -

Attachment


I reckon we will hit 1.2346 before coming back down. First post ? Have you done the three months daily demo ? It really builds the patience you need to succeed on the lower timeframes.



Just something I have been tihnking about on touch trading :

Not to say touch trading isn't great, but I think it can be improved by just using 5/15Minute PA to give an extra edge.
Attachment

Here's the 1.50 from yesterday,...
  • #67,410
  • Edited 7:49am Jun 25, 2010 7:20am | Edited 7:49am
Quoting ghous
That's exactly what I was talking about related to the Gu setup. It has that "Raccy" look to it which gives the experienced eye a heads up on sound locations.

A "jarroo" can look cool taking and managing these but we know what taking these can do to a newbie right?

Reminds me of the time when I was trying to copy jarroo about a year and a half ago...eeeehhh! Scary dreadful times for sure

g.

Your right ghous. I should have be more aware of that and discussed the perils of a sub-A+ setup and the tight management required if it fits ones style. Even my own setups scary me at times. lol


Touch trades can be trickly at best and need to be demo strongly.

They do show how multiple confluences can provide a strong level but we need that added confirmation of strong PA.
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Indicators show the past. Price Action "Indicates" the future.
  • #67,411
  • Jun 25, 2010 7:20am Jun 25, 2010 7:20am
Quoting jarroo
2nd target hit, which looks little stronger.

I like how Price tested the 1.4900 instead of the break. Good sign . . for now.

Jarroo

Can you explain the reasons for taking that Daily PB?

I thought it was too small to be of interest.

Guess it was the sweet spot it came off, the TL and the 61.8 fibo?
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  • #67,412
  • Jun 25, 2010 7:26am Jun 25, 2010 7:26am
Quoting Pinbar
Jarroo

Can you explain the reasons for taking that Daily PB?

I thought it was too small to be of interest.

Guess it was the sweet spot it came off?

That was the most of it, the sweet spot. Much like Jig's 5min PB example, in a way. Shows the power of a great location. But when we add some strong PA formation to it, like that DOW example, magic happens.
Indicators show the past. Price Action "Indicates" the future.
  • #67,413
  • Jun 25, 2010 7:27am Jun 25, 2010 7:27am
pinbar on the daily... I don't know about anyone else but I'll run with it - going with the trend and the end of the nose close to a previously bounced off level - it's good enough for me still in demo trading! Anyone else see it the way I do? Comments?
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  • #67,414
  • Jun 25, 2010 7:30am Jun 25, 2010 7:30am
Quoting mordre
Did you ever saw your TP not getting hit by 1 pip due to spread and then vanish in 5 minutes afterwards ? I just did on EurAud earlier. x( (closed on a 10 pip profit instead of 45)
But despite the potential profit loss, I am glad I got my target wright, that is more important.
That's a solid hit in my book. Remember these are zones too. Just like PPZones. +/- 5 to 10 pips or more is what I use.
Indicators show the past. Price Action "Indicates" the future.
  • #67,415
  • Jun 25, 2010 7:34am Jun 25, 2010 7:34am
Quoting jarroo
That was the most of it, the sweet spot. Much like Jig's 5min PB example, in a way. Shows the power of a great location. But when we add some strong PA formation to it, like that DOW example, magic happens.

Thanks Jarroo...You are so kind with your super-fast explanation.
I hardly had time to finish typing my question. LoL

I am wondering if this D1 Bullish PB is a hint for next weeks direction, it seems to fit with mu weekly PB.
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  • #67,416
  • Jun 25, 2010 7:43am Jun 25, 2010 7:43am
I'm just starting out in this... but tonight is the first time I've noticed these PBs come up while I'm watching - trades I've actually felt confident in taking! I don't know how I'll get to sleep.
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  • #67,417
  • Jun 25, 2010 7:44am Jun 25, 2010 7:44am
Quoting Pinbar
Thanks Jarroo...You are so kind with your super-fast explanation.
I hardly had time to finish typing my question. LoL

I am wondering if this D1 Bullish PB is a hint for next weeks direction, it seems to fit with mu weekly PB.
Which one is that Pb? The one that hasn't closed yet?
Indicators show the past. Price Action "Indicates" the future.
  • #67,418
  • Jun 25, 2010 7:48am Jun 25, 2010 7:48am
Quoting jarroo
Which one is that Pb? The one that hasn't closed yet?
Yes, todays PB and the weekly. I mean, they are hinting at the same direction.

I know neither of them has closed yet, I am asking this question working on the possibility that they may end up as Bullish PBs.
  • #67,419
  • Jun 25, 2010 7:50am Jun 25, 2010 7:50am
Decent BEOB on the euro 4hr
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  • #67,420
  • Jun 25, 2010 7:55am Jun 25, 2010 7:55am
Quoting Pinbar
Yes, todays PB and the weekly. I mean, they are hinting at the same direction.

I know neither of them has closed yet, I am asking this question working on the possibility that they may end up as Bullish PBs.

I wouldn't even look at those in that way Pb, it can be very misleading. We always wait for the Close . . . always wait for the Close.
Indicators show the past. Price Action "Indicates" the future.
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