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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

  • #68,661
  • Jul 14, 2010 5:59pm Jul 14, 2010 5:59pm
Quoting zoopy
Here's a daily setup on audcad.

1. two day pinbar (which broke)
2. 50.0% retracement
3. resistance
4. first touch after crossing the the 150ema (I think James says these are powerful?)
The main issue I have with this is that you are trading right into the 9000 round number. If this could have close under that rd number it could be a whole different trade. Check out the weekly how strong of a PPZ area this is

Best
Mike
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  • #68,662
  • Jul 14, 2010 6:40pm Jul 14, 2010 6:40pm
Quoting mbqb11
The main issue I have with this is that you are trading right into the 9000 round number. If this could have close under that rd number it could be a whole different trade. Check out the weekly how strong of a PPZ area this is

Best
Mike
Thanks Mike
  • #68,663
  • Jul 14, 2010 6:46pm Jul 14, 2010 6:46pm
Quoting Bemac
First. I think I recognize the typing style on that Chart.
Second. I would Love to have taken Every One of those Trades.

Stop Levels are a very personal thing but if you had simply placed your SL at the Opposite end of the Signal Bar or even the Trigger Bar, you wouldn't have been Stopped out of any of these Trades until you were nicely in Profit.
Hi Bemac; I'm still a bit cloudy on the difference between a signal bar and a trigger bar.. could you explain or show an illustration?

Many thanks,
e
  • #68,664
  • Jul 14, 2010 7:39pm Jul 14, 2010 7:39pm
Quoting earthspa
Hi Bemac; I'm still a bit cloudy on the difference between a signal bar and a trigger bar.. could you explain or show an illustration?

Many thanks,
e
I should actually ask Mike to explain this but my description was intended as;
Signal Bar: The Pin Bar.
Trigger Bar: The bar that confirmed/broke beyond the Pin Bar.

Mike?
  • #68,665
  • Jul 14, 2010 7:44pm Jul 14, 2010 7:44pm
Quoting Bemac
I should actually ask Mike to explain this but my description was intended as;
Signal Bar: The Pin Bar.
Trigger Bar: The bar that confirmed/broke beyond the Pin Bar.

Mike?
mine would be the same B

Mike
  • #68,666
  • Jul 14, 2010 8:25pm Jul 14, 2010 8:25pm
Quoting jeurre
hi, jarroo, i am just wondering this, bullish pinbar, for instance, is supposed to be at swing low, in order for it to be qualified as a long setup; when the bullish looking pinbar is located at swing high, it is not at the proper location, however, it turns out to be an IPB, so, you got a short setup, isn't it ?

i got a pic of type of fish,which could be as huge as 45kg per head, retailing price in China is about USD2.00/kg. this fish is an invador and causes ecological damage in your country. if I could get license to US, I would...

Yes that's basically it. Ghous gives more details of the Price dynamics that make up an IPB and why they work out when they are situated in the right market conditions.

Is that you in the pic, jeurre? Cool.

I have to say . .that's one ugly looking fish. lol.
Indicators show the past. Price Action "Indicates" the future.
  • #68,667
  • Jul 14, 2010 8:37pm Jul 14, 2010 8:37pm
Quoting Pinbar
Just bored and taking this on demo.

It is one of jarroo's favorite BEOB hybrid PB.

Yes, that's one of my favorites.

But as you can see it was not at swing high, it was in the middle of a consolidation area. Now if that was at the very top of a consolidation, I may take a second look for sure.
Indicators show the past. Price Action "Indicates" the future.
  • #68,668
  • Jul 14, 2010 8:39pm Jul 14, 2010 8:39pm
Quoting mbqb11
mine would be the same B

Mike
Thanks again guys,
e
  • #68,669
  • Jul 14, 2010 9:05pm Jul 14, 2010 9:05pm
Quoting Bemac
I should actually ask Mike to explain this but my description was intended as;
Signal Bar: The Pin Bar.
Trigger Bar: The bar that confirmed/broke beyond the Pin Bar.

Mike?

I love the bar that breaks. (Trigger Bar) As a tight stop loss placement.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #68,670
  • Jul 14, 2010 9:10pm Jul 14, 2010 9:10pm
Quoting mbqb11
Hey C

No it will only be to the side of the potential breakout. There really is only going to be one logical place to buy or sell either above the highs, or below the lows.

here are some more posts

http://www.forexfactory.com/showthre...06#post3836606
http://www.forexfactory.com/showthre...02#post3838802

Best
Mike

Thank you Mike. Makes sense. I understand the potential trade opportunity at multiple bar low/high either in a row or spread out.

I still have to understand reason for potenital bias. But Mike, I am ok now. currently my focus is only on pin bars.. basic stuff. When I get to this, I will bug you again..
  • #68,671
  • Jul 14, 2010 9:19pm Jul 14, 2010 9:19pm
Quoting jarroo
Possible stop loss placements in black.

Below the bar that breaks.

Below the Daily PPZ, 125.25.

Below the PB.
Thanks
WARNING: Don't follow me as I'm just learning
  • #68,672
  • Jul 14, 2010 9:24pm Jul 14, 2010 9:24pm
Hi Fellow Seniors

I am a newbie have been following up many threads (trading methods) for several months (in part time basis due to full time work). Sadly to say when I decided to follow on a handful of threads but then the creators left and the threads became inactive. So much so I wanted to acquire the trading method (Daily tf preferred due to full time work), I "quit" the threads and move on to find one.

I think with the number of posting this thread should be a good one. However I doubt I could finish reading all 686XX posts. Can you seniors assist to recommend one successful of the trading methods presented in this thread so that I can use it and do Q&A when needed?

Hope the above does not offence anyone (I do not have the intention to do so). Sorry my English.

Thank you.
tpat
  • #68,673
  • Edited 10:10pm Jul 14, 2010 9:57pm | Edited 10:10pm
Quoting Pinbar
Just bored and taking this on demo.

It is one of jarroo's favorite BEOB hybrid PB.

Thanks Jarroo, yes, I see your point.

I am waiting patiently for a setup and just plotting the possibilities & staying dug in my trench till the prey shows its head.

If I am missing anything, please shout.
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  • #68,674
  • Jul 14, 2010 10:04pm Jul 14, 2010 10:04pm
tradpat,
Hello fellow Asian.
check this post (with links).
it should get you started in the right path.

Keep posting!
  • #68,675
  • Jul 14, 2010 10:21pm Jul 14, 2010 10:21pm
Quoting Pinbar
Thanks Jarroo, yes, I see your point.

I am waiting patiently for a setup and just plotting the possibilities & staying dug in my trench till the prey shows its head.

If I am missing anything, please shout.

Hey Pb, what do you think of this PB on the Daily Eur/Chf?
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Indicators show the past. Price Action "Indicates" the future.
  • #68,676
  • Jul 14, 2010 10:24pm Jul 14, 2010 10:24pm
Quoting jarroo
Hey Pb, what do you think of this PB on the Daily Eur/Chf?
Just my opinion Jaroo. The PB is not that big. Would have been better to have pierced 1.3500, lot of sideways action to the left.
  • #68,677
  • Jul 14, 2010 10:28pm Jul 14, 2010 10:28pm
Quoting forexben
Just my opinion Jaroo. The PB is not that big. Would have been better to have pierced 1.3500, lot of sideways action to the left.
Good points fxben. Not an A+ for sure. But it is on top of a consolidation area and with the trend.

Anything else?
Indicators show the past. Price Action "Indicates" the future.
  • #68,678
  • Jul 14, 2010 10:29pm Jul 14, 2010 10:29pm
Quoting cprao
Thank you Mike. Makes sense. I understand the potential trade opportunity at multiple bar low/high either in a row or spread out.

I still have to understand reason for potenital bias. But Mike, I am ok now. currently my focus is only on pin bars.. basic stuff. When I get to this, I will bug you again..
Here's an analogy that might help: Think of the PPZ as a wall and price as a ball bouncing off that wall. Now the time between when the ball hits the wall represents the speed at which the ball travels (long period of time = slower speed). In Mike's examples, not only will the ball break through the wall, but when it does break there is a good chance it will keep flying a ways. So, look for breakout opportunies. If its been some time since the ball hit the wall look for a decent bounce back.
  • #68,679
  • Jul 14, 2010 10:34pm Jul 14, 2010 10:34pm
Quoting jarroo
Good points fxben. Not an A+ for sure. But it is on top of a consolidation area and with the trend.

Anything else?
Nothing else that really springs to mind. Agree with your points also, but overall I would probably skip it. Does the fact that it is at the top of a consolidation area and with the trend over-ride the PB's con's to you here?

If I took it I would get to BE pretty quickly. Where do you see the first FTA? If you took this trade, what do think is the best way to manage it?
  • #68,680
  • Jul 14, 2010 10:42pm Jul 14, 2010 10:42pm
Quoting forexben
Nothing else that really springs to mind. Agree with your points also, but overall I would probably skip it. Does the fact that it is at the top of a consolidation area and with the trend over-ride the PB's con's to you here?

If I took it I would get to BE pretty quickly. Where to do you see your first FTA? If you took this trade, what do think is the best way to manage it?
No, not at all, the cons are strong enough to give it an easy pass.

The target would be the previous bar lows or the bottom of the consolidation. I would like to see the 1.3400 hold as Resistance and have my stop loss just above the previous bar high which is the left eye.
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Indicators show the past. Price Action "Indicates" the future.
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