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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

  • #70,661
  • Aug 5, 2010 8:02am Aug 5, 2010 8:02am
But boy how much more parabolic can we get ...
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  • #70,662
  • Aug 5, 2010 8:12am Aug 5, 2010 8:12am
Quoting pipmyride
But boy how much more parabolic can we get ...
Yeah it does looks great pipmyride....that bump and run was the reason I also got interested along with everything else - just a matter of timing on this one...the 2 daily tram track / PB may just do the business in the end but anything can happen
In retrospect we learn. In perspective we earn.
  • #70,663
  • Aug 5, 2010 8:32am Aug 5, 2010 8:32am
Quoting jarroo
here we go . . .
Hey jarroo.

What was your Entry & Stop point and FTA in this trade? I mean in the GBP/USD 2 days bar trade.

Just wanna learn a bit more.

Thank´s for the lessons and advices.

Suba
  • #70,664
  • Aug 5, 2010 9:45am Aug 5, 2010 9:45am
I'm a bit overwhelmed in keeping up with the posts and learning new material at the same time. I'll reread the first 100 pages and then come back with a boatload of questions...
  • #70,665
  • Aug 5, 2010 10:19am Aug 5, 2010 10:19am
well done if you were patient enough with that cable .. i wasnt

although parabolic TL still in tact for the moment ..
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  • #70,666
  • Aug 5, 2010 12:39pm Aug 5, 2010 12:39pm
hey guys what do you think? its on some pretty good support, kind of hanging around the 50% fib however
  • #70,667
  • Aug 5, 2010 12:49pm Aug 5, 2010 12:49pm
Quoting artieboy
hey guys what do you think? its on some pretty good support, kind of hanging around the 50% fib however
careful here though this thing is chopping around like crazy. That pin is basically stuck in the middle of sideways market and right on a flips zone. I think we might just die down till tomms NFP numbers seeing how it is getting late in the NY session

Mike
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  • #70,668
  • Aug 5, 2010 12:50pm Aug 5, 2010 12:50pm
I don't see a pin on my feed on the 4h gbp/jpy. (fxpro)
  • #70,669
  • Aug 5, 2010 12:50pm Aug 5, 2010 12:50pm
Hey Guys,

Is that a Pinbar forming on the USDCAD? It bounced off a good support line (see history).

Let me know your thoughts. No puzzles please.
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  • #70,670
  • Aug 5, 2010 12:53pm Aug 5, 2010 12:53pm
Quoting everydayguid
Hey Guys,

Is that a Pinbar forming on the USDCAD? It bounced off a good support line (see history).

Let me know your thoughts. No puzzles please.
I don't know about puzzles but I have a chart

cad finally broke out of a pretty tight range and has been some strong bearish days. this pin if closed now would be a very weak closing suggesting more downside after maybe a small bounce up(to the very first trouble area if that). Unless you get a super strong close I would not want to fight the current of big bearish bars

Best
Mike
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  • #70,671
  • Edited 1:10pm Aug 5, 2010 12:54pm | Edited 1:10pm
Quoting artieboy
hey guys what do you think? its on some pretty good support, kind of hanging around the 50% fib however
It could be nice PB bouncing just off the S/R line going for at least 136.82. I don't really like the whole traffic area though. If going for a trade I'd be aware of the S/R lines above when setting the target..

EDIT: Missed another S/R line at 136.511 just above this candle. Personally I'd stay off that trade. However I'm just a newbie here and a senior member might be a better help

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I came across a post from James16. What did he mean by
Quote
always be cautious of divergence in a strong trending market

I didn't really get this post and now I'm seeking an enlightenment
  • #70,672
  • Aug 5, 2010 12:57pm Aug 5, 2010 12:57pm
Thanks for the answer Mike. I get your point. Sorry about the "puzzle", but I have received replies in the past that meant nothing, yet meant something (or vice versa).

Quoting mbqb11
I don't know about puzzles but I have a chart

cad finally broke out of a pretty tight range and has been some strong bearish days. this pin if closed now would be a very weak closing suggesting more downside after maybe a small bounce up(to the very first trouble area if that). Unless you get a super strong close I would not want to fight the current of big bearish bars

Best
Mike
  • #70,673
  • Aug 5, 2010 1:08pm Aug 5, 2010 1:08pm
took a short on gu got stopped out again. enter 5850 sl 5890
so what am i missing because i have been getting beat like a mule this year. there has to be a solid reason? something technical?
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  • #70,674
  • Aug 5, 2010 1:10pm Aug 5, 2010 1:10pm
Quoting NoBread
took a short on gu got stopped out again. enter 5850 sl 5890
so what am i missing because i have been getting beat like a mule this year. there has to be a solid reason? something technical?
Hey NB

What was your technical reason for getting in short? I see a very strong trending bull market and before I go picking a top I want something to present itself that is suggesting strength to the down side. i would be watching to see when this last high gets taken out around 1.6

Mike
  • #70,675
  • Aug 5, 2010 1:13pm Aug 5, 2010 1:13pm
bearish the day before? over sold like a B? it looked good to me i will be honest.
so what didnt i see?
  • #70,676
  • Aug 5, 2010 1:19pm Aug 5, 2010 1:19pm
  •  jdl
  • | Joined Oct 2006 | Status: going to master this or die trying | 101 Posts
Quoting mbqb11
the CONS are much stronger in my opinion. The problem is you are essentially trading right into the first trouble area since it is at a swing high and in a lot of traffic. It doesn't make it unplayable, but if you choose to play them at this location you have to be fully aware of that negative(which in my eyes is too high to make it worth trading).
Mike
Quoting ghous
You are trying to play a continuation Pin bar which is not at a decent pull back which can always be tricky.

Now looking at a zoomed out chart, the Pb no longer looks to have that longish look we like it to have and clearly the FTA which was very close is already hit. IMO it's just a little shady and well short of the A+ caliber.
All true. I confess I bit on a less than perfect setup (before I posted it). I talked myself into the trade. It retraced all the way to the end of the PB today and taught me a valuable lesson about patience. Despite it being a demo account, it stings.
  • #70,677
  • Aug 5, 2010 1:29pm Aug 5, 2010 1:29pm
Quoting NoBread
bearish the day before? over sold like a B? it looked good to me i will be honest.
so what didnt i see?
Hey NB I agree gbp MIGHT be looking to top out but there was no actual PA signals that were worth holding(not even divergence going by the 4hr chart). All the bearish bars were mostly smaller in size. Remember even if it looks over bought price was full steam ahead up. It is like standing in front of an oncoming train. We don't want to just sell markets b/c they look heavy we want good reasons confluence, pa to help us get in.

The one bearish bar I see is a small outside bar. With a bar like this we don't want to be a hero or fear missing the big move. We have to think logically that price is in a strong uptrend and look to logical areas for it to stall to help reduce or move our stops. Again I think this is a stretch even to play this bar but it did do what we would expect.

Again I am not judging you hear but my guess and what I see from most people is the fear of missing the next big move and the "it can't go much higher it has to retrace". We have all thought that. My advice is be patient for more signals. I don't really see a concrete trade plan or reason to get in.

I hope this helps and you take it strictly as my opinion

Mike
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  • #70,678
  • Aug 5, 2010 1:29pm Aug 5, 2010 1:29pm
Quoting jdl
All true. I confess I bit on a less than perfect setup (before I posted it). I talked myself into the trade. It retraced all the way to the end of the PB today and taught me a valuable lesson about patience. Despite it being a demo account, it stings.
lessons are how we learn and why we do it on demo so we don't have to burn a hole in our pockets
  • #70,679
  • Aug 5, 2010 1:50pm Aug 5, 2010 1:50pm
Quoting NoBread
took a short on gu got stopped out again. enter 5850 sl 5890
so what am i missing because i have been getting beat like a mule this year. there has to be a solid reason? something technical?
if i may... i took this trade today at 1.5917 just off the 61.8% fibo retracement of the two day pinbar (the 2 day pb is marked with a blue box) . i was aware that the trend is up so i just waited it to go to the FTA (@1.5860) and then i closed the trade.

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  • #70,680
  • Aug 5, 2010 2:16pm Aug 5, 2010 2:16pm
I get that it is an up trend and know i was not trying to top pick it either but this is what happens every time i buy or sell a daily. and after three years it time to fold up camp and do something that makes me money...work.
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