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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

  • #68,781
  • Jul 15, 2010 1:12pm Jul 15, 2010 1:12pm
I wont trade it this late in the day, but this is my favorite of all the current pins, due to the 1.75 BRN;
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  • #68,782
  • Jul 15, 2010 1:34pm Jul 15, 2010 1:34pm
Quoting Sjr
Could someone please comment on this. I think it looks like a Pb, but for some reason Im not totally convinced. On the other hand someone with more experience might say its great. Thanks in advance. SR
Well heres the update from what I thought was a pb to demo trade. glad I didnt take it, clearly still learning. Thx to those who offered there thoughts.
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  • #68,783
  • Jul 15, 2010 1:43pm Jul 15, 2010 1:43pm
Quoting Jonnyislost
I wont trade it this late in the day, but this is my favorite of all the current pins, due to the 1.75 BRN;
Hi Jonny, This is really strange, why your chart has a pin bar when mine don't and the difference is huge!
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  • #68,784
  • Jul 15, 2010 2:09pm Jul 15, 2010 2:09pm
anyone using parabolic sar (as an additional confirmation?)
  • #68,785
  • Jul 15, 2010 2:12pm Jul 15, 2010 2:12pm
Quoting Adilius07
Hi Jonny, This is really strange, why your chart has a pin bar when mine don't and the difference is huge!
Hey Adilius

I noticed the chart you posted was from the broker FxPro, Their 4hr charts close 1 hour earlier than the Broker in my post (Alpari) which distorts things slightly when it comes to spotting price action. Many traders here have a separate Broker feed for each possible 4Hr close. So in effect they have a different 4hr chart closing every hour. Hope it makes sense!

J
  • #68,786
  • Jul 15, 2010 2:16pm Jul 15, 2010 2:16pm
Quoting mistersimple
anyone using parabolic sar (as an additional confirmation?)
You could add another 100 indies for that "further confirmation" and expect to make things more accurate and predictable - truth is nothing beats a pin bar at a swing high at a proven BRN with divergence.

g.
I believe . . .
  • #68,787
  • Jul 15, 2010 2:17pm Jul 15, 2010 2:17pm
Quoting Adilius07
Hi Jonny, This is really strange, why your chart has a pin bar when mine don't and the difference is huge!
That difference is due to Different Brkrs "Workdays" being different.
Looks like Johnnies Brkr Opens an Hour After Yours. Therfore Johnies 4Hr Bars Open & Close 1 Hr after yours.
  • #68,788
  • Jul 15, 2010 2:31pm Jul 15, 2010 2:31pm
Quoting Jonnyislost
Hey Adilius

I noticed the chart you posted was from the broker FxPro, Their 4hr charts close 1 hour earlier than the Broker in my post (Alpari) which distorts things slightly when it comes to spotting price action. Many traders here have a separate Broker feed for each possible 4Hr close. So in effect they have a different 4hr chart closing every hour. Hope it makes sense!

J
Oh. Got you. Ok will keep this in mind. Thanks.
  • #68,789
  • Jul 15, 2010 2:32pm Jul 15, 2010 2:32pm
Quoting Bemac
That difference is due to Different Brkrs "Workdays" being different.
Looks like Johnnies Brkr Opens an Hour After Yours. Therfore Johnies 4Hr Bars Open & Close 1 Hr after yours.
Bemac, that could also mean lost or won trade? I don't really like the fact something like this takes place
  • #68,790
  • Jul 15, 2010 2:48pm Jul 15, 2010 2:48pm
Quoting ghous
You could add another 100 indies for that "further confirmation" and expect to make things more accurate and predictable - truth is nothing beats a pin bar at a swing high at a proven BRN with divergence.

g.
one simple sentence ... which actually means a universe.
meine augen sind die sterne
  • #68,791
  • Jul 15, 2010 2:48pm Jul 15, 2010 2:48pm
Quoting Adilius07
Bemac, that could also mean lost or won trade? I don't really like the fact something like this takes place
It is no big deal Adilius, simply play it as you see it. You will see location trumps everything. Bars are simply an aggregation of past price.

Best
Mike
  • #68,792
  • Jul 15, 2010 2:54pm Jul 15, 2010 2:54pm
just a breakout on nzd/usd.
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meine augen sind die sterne
  • #68,793
  • Jul 15, 2010 3:16pm Jul 15, 2010 3:16pm
Quoting mbqb11
It is no big deal Adilius, simply play it as you see it. You will see location trumps everything. Bars are simply an aggregation of past price.

Best
Mike
Ok, thanks Mike! Will pay attention to my charts and especially the location of any possible setup. Cool.
  • #68,794
  • Jul 15, 2010 3:35pm Jul 15, 2010 3:35pm
anyone here think maybe just maybe there's a 51% chance that today was the beginning of the domino effect of people closing their shorts on the euro? I think there's about a 51% chance that has begun today

first stop, 1.35
Many choose unhappiness over uncertainty.
  • #68,795
  • Edited 7:03pm Jul 15, 2010 4:32pm | Edited 7:03pm
Aud/USD

Would this be considered a good IPB?

Edit: Not sure if it was good, but I moved to BE so it's free...
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  • #68,796
  • Jul 15, 2010 5:46pm Jul 15, 2010 5:46pm
Quoting Dan Gilbert
anyone here think maybe just maybe there's a 51% chance that today was the beginning of the domino effect of people closing their shorts on the euro? I think there's about a 51% chance that has begun today

first stop, 1.35
I don't know Dan ...but I am/was ready to touch short with 1.30 BRN Fib 61.8 ....we shall see
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  • #68,797
  • Jul 15, 2010 6:36pm Jul 15, 2010 6:36pm
Anybody looking at GBP/USD. Close to major resistance 1.5520, Confluence with BRN 1.5500. If 4hour chart produces Inside Bar then i may enter a short trade on 4hr or look for short trades on 15 min chart. It has broken though its daily channel but stalled just before resistance.Thoughts ?

By the way im new at this so i may be completley wrong lol.
  • #68,798
  • Jul 15, 2010 6:45pm Jul 15, 2010 6:45pm
Quoting fx_heaven
Hi Pinbar,

Yes, just waiting for that other shoulder to form, if not then a solid consolidation and then break out and estimating it may run to 8600 or 8800 before turning around again (price action at previous triangle support) and nose diving

Thanks FX & Bemac.

Just wondered if H&S were taboo or not in this thread as they are not mentioned that much.
  • #68,799
  • Jul 15, 2010 6:46pm Jul 15, 2010 6:46pm
Quoting jdl
Isn't a price action setup diluted if only a subset of traders see the setup (since setups can be self reinforcing)? Seems like you'd want to use "the most common" bar close, if there is such a thing.
Are people trading D1 pinbars on MT4 micro accounts moving the market? Or piggybacking on the market flows caused by big currency movements?
When you have to shoot, shoot. Dont talk.
  • #68,800
  • Jul 15, 2010 7:20pm Jul 15, 2010 7:20pm
Quoting slade1986
Aud/USD

Would this be considered a good IPB?

Edit: Not sure if it was good, but I moved to BE so it's free...
I haven't played IPBs much, but have been watching them...and also this pair. Good move to B/E....I would be worried about the ppz at RN 8800, and the 150 ema.
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