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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

  • #68,001
  • Jul 5, 2010 11:03pm Jul 5, 2010 11:03pm
Quoting Pinbar
I am getting back to my What is the trend thing on NZD/USD.

it seems the trend is moving in the bearish direction or at least Bearish signs are showing on Monthly, weekly, Daily & H4.

So, next week maybe worth keeping an eye out for some daily Bearish PA.

I caught this IPB on the Nzd/Usd Weekly. Worked out great. Notice the many confluences that supported this trade.

Quoting jarroo
Hey Ghous . . . you gotta like this IPB (G-Bar) on the Weekly Nzd/Usd.
Wedge breakout / pullback with PA (I consider it PA) and there's bit of PPZ at the .7150. IPB on many feeds.

Should be fun to watch.
Indicators show the past. Price Action "Indicates" the future.
  • #68,002
  • Jul 5, 2010 11:38pm Jul 5, 2010 11:38pm
Quoting jarroo
I caught this IPB on the Nzd/Usd Weekly. Worked out great. Notice the many confluences that supported this trade.
thanks for the info Jarroo.
Are there any you don't catch? LoL

Not many, I imagine.



On the learning process. think I may be having a bit of a hard time psychologically, watching the videos helps to fortify the spirit Greatly.
This is the current therapy I am administering in large daily doses, The Jim, Mike video pills.

Funny, while watching those videos, it gives one the sense of wanting to jump for joy shouting Eureka. Then, I move to a live chart and can see more than I could before. It seems to fade and the noise of the PA takes control of the mind. Another dose and the clarity seems to return. No rush, I just have to keep at it and refresh the mind with these quality video setups, write it down and go over it again and again, until I have the, If this, this and this happens mind set.
  • #68,003
  • Jul 5, 2010 11:51pm Jul 5, 2010 11:51pm
Quoting Pinbar
thanks for the info Jarroo.
Are there any you don't catch? LoL

Not many, I imagine.



On the learning process. think I may be having a bit of a hard time psychologically, watching the videos helps to fortify the spirit Greatly.
This is the current therapy I am administering in large daily doses, The Jim, Mike video pills.

Funny, while watching those videos, it gives one the sense of wanting to jump for joy shouting Eureka. Then, I move to a live chart and can see more than I could before. It seems to fade and the noise of the PA takes control...
I miss many. . . .too many . .lol

That noise of PA you are seeing may be that you're heading down to lower times frames Pb ? . . . am I right? lol

Your on the track Pb . .. . just keep at it. view the videos and charts often. Over time, you will see things in them you didn't see before.

Indicators show the past. Price Action "Indicates" the future.
  • #68,004
  • Jul 6, 2010 12:24am Jul 6, 2010 12:24am
Quoting jarroo
I miss many. . . .too many . .lol

That noise of PA you are seeing may be that you're heading down to lower times frames Pb ? . . . am I right? lol

Your on the track Pb . .. . just keep at it. view the videos and charts often. Over time, you will see things in them you didn't see before.


No, Jarroo not really, I am staying on the D1 as minimum and looking at the Monthly and weekly candles to try and get in, in the same direction.
If I take a look at the H4 TF and it is in agreement with the M, W & Daily PA, I may consider it. But, for now, I am concerning myself more with hitching a ride on longer term TF PA direction. When I am looking at H4 I am simply looking where the daily PA is leading me.

If you see what I mean?

Thanks for the encouragement.
  • #68,005
  • Jul 6, 2010 12:31am Jul 6, 2010 12:31am
Quoting Pinbar
No, Jarroo not really, I am staying on the D1 as minimum and looking at the Monthly and weekly candles to try and get in, in the same direction.
If I take a look at the H4 TF and it is in agreement with the M, W & Daily PA, I may consider it. But, for now, I am concerning myself more with hitching a ride on longer term TF PA direction. When I am looking at H4 I am simply looking where the daily PA is leading me.

If you see what I mean?

Thanks for the encouragement.

Good job Pb and well said.
Indicators show the past. Price Action "Indicates" the future.
  • #68,006
  • Jul 6, 2010 12:55am Jul 6, 2010 12:55am
Quoting Pinbar
If I take a look at the H4 TF and it is in agreement with the M, W & Daily PA, I may consider it. But, for now, I am concerning myself more with hitching a ride on longer term TF PA direction. When I am looking at H4 I am simply looking where the daily PA is leading me.

If you see what I mean?

Thanks for the encouragement.
Just to continue with this Pb. . .

Many questions concerning the Daily BUOB on the Gbp/Usd and the Weekly BUOB on the Eur/Usd.

At their most basic PA level, these BUOBs are an easy pass because they are at swing Highs not at a swing Lows. Pass on these.

The way to trade Outside bars (imo), as continuation setups ( not at their respected swing High/Low), is to wait for them to break and then retrace to their previous bar high/lows, or BRN or PPZ level within the setup itself. Or they can retrace to these levels before they break. Then we can look for bullish PA on the 4 hour or Hourly at these retracement levels.

The PA at these lower levels have to meet the best setup criteria, meaning BUOB, bullish PB, at a swing low (say on the 4 hour or hourly), space, confluences, etc.

A touch trade at these retracement levels can be risky and tight management is required.






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Indicators show the past. Price Action "Indicates" the future.
  • #68,007
  • Jul 6, 2010 2:08am Jul 6, 2010 2:08am
Quoting jarroo
Just to continue with this Pb. . .

Many questions concerning the Daily BUOB on the Gbp/Usd and the Weekly BUOB on the Eur/Usd.

[color=black]At their most basic PA level, these BUOBs are an easy pass because they are at swing Highs not at a swing Lows....

yes, I could easily pass on that GBP/USD BUOB and would prefer to see something like this on the Daily chart.
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  • #68,008
  • Jul 6, 2010 2:13am Jul 6, 2010 2:13am
Quoting Pinbar
yes, I could easily pass on that GBP/USD BUOB and would prefer to see something like this on the Daily chart.

I like the size of that daily PB you drew but have it swing down over the course of a few days at the 1.5000 would be nice.
Indicators show the past. Price Action "Indicates" the future.
  • #68,009
  • Jul 6, 2010 2:40am Jul 6, 2010 2:40am
Quoting jarroo
I like the size of that daily PB you drew but have it swing down over the course of a few days at the 1.5000 would be nice.

Like this? LoL

Now, you have really presented me with a dilemma here Jarroo.
If I can't trade maybe I should just draw my own charts. LOL
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  • #68,010
  • Jul 6, 2010 2:44am Jul 6, 2010 2:44am
Quoting Pinbar
Like this? LoL

Now, you have really presented me with a dilemma here Jarroo.
If I can't trade maybe I should just draw my own charts. LOL

lol


I was thinking more like this:
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Indicators show the past. Price Action "Indicates" the future.
  • #68,011
  • Jul 6, 2010 3:17am Jul 6, 2010 3:17am
Quoting jarroo
lol


I was thinking more like this:

Oh, you meant the open and close on the 500?

Yes, I suppose we need that swing low to make it a valid setup anyway.

Very descriptive Jarroo.

You are a real jewel man.

Don't worry about the hug, I am not ambidextrous. Haa
  • #68,012
  • Jul 6, 2010 3:21am Jul 6, 2010 3:21am
Quoting Pinbar
Oh, you meant the open and close on the 500?

Yes, I suppose we need that swing low to make it a valid setup anyway.

Very descriptive Jarroo.

You are a real jewel man.

Don't worry about the hug, I am not ambidextrous. Haa

That's right Pb . .it would give a bit more space, although the swing low would not be that deep. But the 1.5000 and the trend would be supporting us.

back at you buddy.
Indicators show the past. Price Action "Indicates" the future.
  • #68,013
  • Jul 6, 2010 4:11am Jul 6, 2010 4:11am
GBP/AUD
10 hour chart
BEOB at swing high egulfing several bars
1.8 BRN
Divergence

Short order placed just below the bar and that upper blue area

I will move the stop to breakeven once that second blue area is reached

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  • #68,014
  • Jul 6, 2010 4:29am Jul 6, 2010 4:29am
Quoting Jonnyislost
GBP/AUD
10 hour chart
BEOB at swing high egulfing several bars
1.8 BRN
Divergence

Short order placed just below the bar and that upper blue area

I will move the stop to breakeven once that second blue area is reached

Looks good. Nice proxy 3 bar high too. Are you going to take any profit at the FTA or just move your stop to BE and let it run? Fore vet posters, would this be a good trade for a trailing your stop behind the high of the previous two bars?
  • #68,015
  • Jul 6, 2010 4:38am Jul 6, 2010 4:38am
Quoting jarroo
Just to continue with this Pb. . .

Many questions concerning the Daily BUOB on the Gbp/Usd and the Weekly BUOB on the Eur/Usd.

At their most basic PA level, these BUOBs are an easy pass because they are at swing Highs not at a swing Lows. Pass on these.

[color=black]The way to trade Outside bars (imo), as continuation setups ( not at their respected swing High/Low), is to wait for them to break and then retrace to their previous bar high/lows, or BRN or PPZ level within the setup itself. Or they can retrace to these...

Hi Jarro thanks for the great advice above, I read these posts and you really stick out as a person with a wealth of knowledge that makes total sense, good on you, keep up the good work,. I havent posted much and intend to a lot more in the future. I am currently putting together a trading plan and will post it here shortly and i would be keen on your thoughts on it,, thanks again, Shane
  • #68,016
  • Jul 6, 2010 4:39am Jul 6, 2010 4:39am
Quoting forexben
Looks good. Nice proxy 3 bar high too. Are you going to take any profit at the FTA or just move your stop to BE and let it run? Fore vet posters, would this be a good trade for a trailing your stop behind the high of the previous two bars?
I will see how the price moves, if there is a nice "hard break" I will probably move my stop to BE when the FTA is reached.
If the price just drifts down I might simply take full profit, as the trade is somewhat counter trend, and a bounce could be likely

If the price moves against me now and goes above 1.8 I'll probably close out too and prevent a full bar loss
  • #68,017
  • Jul 6, 2010 5:03am Jul 6, 2010 5:03am
Watching this one

It's not tradable yet in my opinion because the bar is pathetically small after such a stong run down, but actually it does engulf a few prior bars, and the 1.0000 (do round numbers come any bigger? )
There is also divergence of a sort
I'll be watching this for price action on different feeds over the next few hours
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  • #68,018
  • Jul 6, 2010 5:53am Jul 6, 2010 5:53am
Hi everybody

I am in this trade right now
any comment much appreciated

pending order triggered
was buystop 5pips above previous high and SL 5pips below previous low
FTA 7940 then 7960 then 7980 then BRN 1.80 then I wake up from my dream
pinbar @ ppz
closed above RN 1.7900
not very long nose but touched the upper trend line
just couldnt say no... http://www.james16group.us/forums/im...ilies/wink.gif

thanks
Andrea
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  • #68,019
  • Jul 6, 2010 6:49am Jul 6, 2010 6:49am
Quoting printer69
Hi everybody

I am in this trade right now
any comment much appreciated

pending order triggered
was buystop 5pips above previous high and SL 5pips below previous low
FTA 7940 then 7960 then 7980 then BRN 1.80 then I wake up from my dream
pinbar @ ppz
closed above RN 1.7900
not very long nose but touched the upper trend line
just couldnt say no... http://www.james16group.us/forums/im...ilies/wink.gif

thanks
Andrea
Hi Andrea,

I noticed a a DBHLC on the H4 time frame coming right off the 18100 level which is also a PPZ and had a previous big pin bar coming off it, although they are against the trend its two consecutive Bearish signals and acting as a warning

Its a good PB, however it formed below the PPZ and 17900 level
In retrospect we learn. In perspective we earn.
  • #68,020
  • Jul 6, 2010 7:13am Jul 6, 2010 7:13am
Has anybody coded an EA or knows of an EA which makes trades based upon pin bars?
Probability Professor
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