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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

  • #69,861
  • Jul 27, 2010 3:28pm Jul 27, 2010 3:28pm
It wont be up for long as i still have some work to do but come over right now and help me see if its working correctly.

http://www.james16group.us/Guests/guestchat.html
  • #69,862
  • Jul 27, 2010 3:46pm Jul 27, 2010 3:46pm
Quoting Adilius07
Hello Sjr, it is also a BUOB on Daily, so be careful.
Yes your right is does. I guess Im confused. If it looks like a good pb on the 4H chart but looks likes a BUOB on the daily is it better to avoid the pb in favour of the higher time frame?
  • #69,863
  • Jul 27, 2010 3:48pm Jul 27, 2010 3:48pm
Quoting Sjr
Hi Everyone, this looks like a good pb to me assuming it closes below the left eye, does anyone have any thoughts as to why it wouldn't be any-good? Cheers

SR
Sjr it's a point of fib confluence as well, 61.8 of most recent move down, 50% of the swing before that. I had my eye on it as well. But alot of resistance there...
  • #69,864
  • Jul 27, 2010 3:56pm Jul 27, 2010 3:56pm
Quoting Sjr
Yes your right is does. I guess Im confused. If it looks like a good pb on the 4H chart but looks likes a BUOB on the daily is it better to avoid the pb in favour of the higher time frame?
Yes I believe the higher TF the stronger setup, but occur less. The 4H might go in your favor a little where you would be able to set your stop to BE, but still too risky I think since it is just a little price retracement within BUOB on the higher TF.
  • #69,865
  • Jul 27, 2010 3:57pm Jul 27, 2010 3:57pm
oh well back to the drawing board....
  • #69,866
  • Jul 27, 2010 4:22pm Jul 27, 2010 4:22pm
Quoting Sjr
Hi Everyone, this looks like a good pb to me assuming it closes below the left eye, does anyone have any thoughts as to why it wouldn't be any-good? Cheers

SR
also look out for the size of previous bar(s) with respect to ur pa bar.
can u see the size of the immediate previous bullish bar compared to that pin.
now u can use supremechaos' chocolate analog to analyse this scenario. lol
hello guys, its been a while....how's everybody doing?

Squeezy
Simplicity is the key to success
  • #69,867
  • Jul 27, 2010 4:25pm Jul 27, 2010 4:25pm
Quoting squeezy
also look out for the size of previous bar(s) with respect to ur pa bar.
can u see the size of the immediate previous bullish bar compared to that pin.
now u can use supremechaos' chocolate analog to analyse this scenario. lol
hello guys, its been a while....how's everybody doing?

Squeezy
Hello Squeezy, what is chocolate analog? Sounds interesting.
  • #69,868
  • Jul 27, 2010 4:30pm Jul 27, 2010 4:30pm
Does anyone have a pinbar on the NZD/USD daily?
  • #69,869
  • Jul 27, 2010 4:38pm Jul 27, 2010 4:38pm
Quoting Adilius07
Hello Squeezy, what is chocolate analog? Sounds interesting.
http://www.forexfactory.com/showpost...ostcount=69388
Simplicity is the key to success
  • #69,870
  • Jul 27, 2010 4:43pm Jul 27, 2010 4:43pm
Quoting squeezy
http://www.forexfactory.com/showpost...ostcount=69388
LOL.
Cool, I got it now!!! Very strong point would keep this in mind. Thanks!
  • #69,871
  • Jul 27, 2010 4:49pm Jul 27, 2010 4:49pm
Quoting Adilius07
Yes I believe the higher TF the stronger setup, but occur less. The 4H might go in your favor a little where you would be able to set your stop to BE, but still too risky I think since it is just a little price retracement within BUOB on the higher TF.
That's not a BUOB IMO. Technically it is, but look at how much momentum it's lost already. I'd take that 4 hour pin any day of the week. And I just did.

I like my BUOBs to be pitbulls, ripping, barking like crazy, and ready to break through anything. Big and busting out. I would have wanted to see that bar's high at 1.0380 or higher. As it stands, that bar looks like a poodle. Poodles are cool...I guess. lol

The main man Jim would probably say the same exact thing.
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I dream, therefore I become.
  • #69,872
  • Edited 5:07pm Jul 27, 2010 4:56pm | Edited 5:07pm
Quoting mike w
That's not a BUOB IMO. Technically it is, but look at how much momentum it's lost already. I'd take that 4 hour pin any day of the week. And I just did.

I like my BUOBs to be pitbulls, ripping, barking like crazy, and ready to break through anything. Big and busting out. I would have wanted to see that bar's high at 1.0380 or higher. As it stands, that bar looks like a poodle. Poodles are cool...I guess. lol

The main man Jim would probably say the same exact thing.
Mike, thanks for clarification. I was also worried that it closed in the middle of its range. But then again I looked at the location which to me looked as a bottom of this range we formed.

So I thought there is some support for the trade and some room to go higher. My FTA is 1.0436 where I will move to BE. And I also set my orders to short NZD/USD - I like this bar more, but the location is not that good I think. Well I will try to be quick to move my stop to BE...

Edited FTA, I have it as 1.0436 (37 pips from my entry)
  • #69,873
  • Jul 27, 2010 5:00pm Jul 27, 2010 5:00pm
Anyone seen the FTSE100 and the S&P?

Pin time!
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  • #69,874
  • Jul 27, 2010 5:54pm Jul 27, 2010 5:54pm
im going to give as many of you as i can mod status over the chat room. having as mant as possible will help ensure that a mod will likely always be in or near the room. it will take a while. im not even going to ask im just going to give them out. if i miss you and you want that status let me know.

jim

Quoting james16
It wont be up for long as i still have some work to do but come over right now and help me see if its working correctly.

http://www.james16group.us/Guests/guestchat.html
  • #69,875
  • Jul 27, 2010 5:55pm Jul 27, 2010 5:55pm
is there divergence? throw up an rsi and a macd.


Quoting six gun
Anyone seen the FTSE100 and the S&P?

Pin time!
  • #69,876
  • Jul 27, 2010 6:09pm Jul 27, 2010 6:09pm
Quoting james16
is there divergence? throw up an rsi and a macd.
looks like so on macd
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  • #69,877
  • Jul 27, 2010 6:27pm Jul 27, 2010 6:27pm
The Dow has not quite formed a pin bar on my chart.
The daily bar has another 40 minutes until closure and it is 6 pips to fall yet.
The wick is not much and it did not reach 10 600 which would have clinched it.

The NASDAC has a tiny pinbar which reaches 1900.
The body sits under the 127% fib.
The same with the Dow, the body sits under the 127% fib.

The indices are so linked, when one goes they all go.
There's a pin on the Dax.
An attempt at one on the CAC.

Certainly the Dow has had a good run up and a pull back is about due irrespective on the technicals.
  • #69,878
  • Jul 27, 2010 7:07pm Jul 27, 2010 7:07pm
Quoting six gun
Anyone seen the FTSE100 and the S&P?

Pin time!

Pretty small weak looking bars. Could see a small move down maybe to say 1100(real strong ppz on s&P), but I wouldn't go to crazy over these personally.

Play them careful!

Best
Mike
  • #69,879
  • Jul 27, 2010 7:25pm Jul 27, 2010 7:25pm
Quoting supremeChaos
Sir jopollin comes in & post his thoughts.. i was eager to listen & sort of waiting for what he has to say... but i personally didnt hear anything new/surprising. am i correct?
jopollin, what's next, Sir? i mean is that it? have u made your point?
this is a sincere, humble question.
lol. I suspect he collected enough 'plz tell me secret PA system thx' PMs and moved on to spam elsewhere.

It's a pity he didnt hang around. His amateurish intepretation of market dynamics (weird wicks = rejection!) and brand new, never heard of system (watch for a hard break...hrm, where have I heard that before?) could have completely revolutionised the way we all trade
When you have to shoot, shoot. Dont talk.
  • #69,880
  • Jul 27, 2010 7:34pm Jul 27, 2010 7:34pm
Quoting mbqb11
Pretty small weak looking bars. Could see a small move down maybe to say 1100(real strong ppz on s&P), but I wouldn't go to crazy over these personally.

Play them careful!

Best
Mike
Agreed 1100 is a triple swing high since May and further over to the left a major support/resistance level.
That's enough pips south to trigger the pin and make some pips.
Might do a re-run of the last significant swing high where price finally went down from 1120 and smashed straight through the 1100 level.

The FTSE100 looks a better bet to me, but as I say they all tend to move together when they go.

The market has tipped over on even more anaemic pins so let's see......
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