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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

  • #74,761
  • Sep 14, 2010 3:21pm Sep 14, 2010 3:21pm
Quoting relyt
Does anyone see a pinbar on the USD/CAD daily? My daily bar closes in just over 2 hours and I see a pinbar right at a weekly PPZ.

It looks like FTA would be 30-40 pips away. I'd be interested in thoughts from anyone, especially you more experienced guys.
I was thinking about this one, and for right now I am passing on it as a Daily Trade. The 1.300 number looms right above the daily high.

I will keep and eye on it, and see if there is an entry in the same direction on the 1 and 4 hour charts.
  • #74,762
  • Edited 4:40pm Sep 14, 2010 4:16pm | Edited 4:40pm
Quoting Pinbar
Yeah, I hear you..These 3 bar open and closes are the problem it seems and, as you say, the uptrend is pretty strong.


Quoting jarroo
Yes, exactly.

That's what is so cool about Big bars in a PA setup. The high momentum inherent in a big bar itself can roll through much of the minor traffic that is there.

The questions are . . Is this setup big enough? Is it at a good location to go long if bullish PA is presented (due to the PPZ level, uptrend, etc)? Is the swing high . . high enough? etc
What tells me the uptrend is strong is that we have a good size BEB (relative to the previous bars on this time frame) in a DBHLC, due to the traffic and Daily PPZ level that its sitting on, it failed to make any head way downward. Plus, of course, we've been trending upward for some time.

Then we have a 4 hour BUOB at this PPZ level . Is the BUOB big enough?, how's the traffic?, swing low?, etc. Not the best setup. The only thing going for it is the PPZ level, uptrend continuation and the hint of PA.
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Indicators show the past. Price Action "Indicates" the future.
  • #74,763
  • Sep 14, 2010 4:35pm Sep 14, 2010 4:35pm
Quoting dabbledave
Newbie here. I also demoed short on the 4H bearish ourside bar (BEOB). Bullish pins forming on the hourly ... Have others who also took this trade bailed out already?

Welcome dave.

There was an earlier discussion on this setup starting with this post. .

Quoting Pinbar
Anyone watching this DBHLC on NZD/USD 1 pip difference in the highs?
Demo . . demo . . demo . .
Indicators show the past. Price Action "Indicates" the future.
  • #74,764
  • Sep 14, 2010 4:38pm Sep 14, 2010 4:38pm
Quoting lallous
I am very new to Forex trading in fact this is my third month trying to learn as much as possible. I skimmed numerous threads regarding trading setups, placing indicators...etc but at the end I decided that nothing quite beats learning price action analysis.
So here I am trying to learn as much as possible from this amazing thread which needs quite some time to extract all the information.

I downloaded all the guest stuff files from James16's website which I also need to get through.

Keep up the great work guys

Welcome lallous.

Nothing beats pure clean Price Action analysis.
Indicators show the past. Price Action "Indicates" the future.
  • #74,765
  • Sep 14, 2010 6:45pm Sep 14, 2010 6:45pm
Took a touch trade on UJ this am @83.00 Was beginning to worry. Just paid off.
  • #74,766
  • Sep 14, 2010 6:57pm Sep 14, 2010 6:57pm
Quoting jarroo
What tells me the uptrend is strong is that we have a good size BEB (relative to the previous bars on this time frame) in a DBHLC, due to the traffic and Daily PPZ level that its sitting on, it failed to make any head way downward. Plus, of course, we've been trending upward for some time.

Then we have a 4 hour BUOB at this PPZ level . Is the BUOB big enough?, how's the traffic?, swing low?, etc. Not the best setup. The only thing going for it is the PPZ level, uptrend continuation and the hint of PA.

Thanks for the input Jarroo

All that glitters is obviously not gold.



USD/JPY is going crazy. Did the JP government announce some action to counter the high yen or something? Don't see any news release.

That sure is some BUOB.
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  • #74,767
  • Sep 14, 2010 6:58pm Sep 14, 2010 6:58pm
  •  jdl
  • | Joined Oct 2006 | Status: going to master this or die trying | 101 Posts
I know many of you passed, but I took the gbp/jpy daily pin in my demo account. A half hour ago it was down 50 pips. I just came back and found it had shot up like a rocket. I have no idea what's going on but it's a free trade now.
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  • #74,768
  • Sep 14, 2010 7:06pm Sep 14, 2010 7:06pm
Yeah, I just saw on the news that the JP government is selling Yen and buying the Dollar on a massive scale.

I think this is like putting eye drops in the Ocean.
  • #74,769
  • Sep 14, 2010 7:12pm Sep 14, 2010 7:12pm
Gotta get to bed before the temptation to get back in UJ gets the best of me...

PB, that's a pretty big Bullish Outside Bar on the 1HR..
  • #74,770
  • Sep 14, 2010 7:15pm Sep 14, 2010 7:15pm
Quoting slade1986
Gotta get to bed before the temptation to get back in UJ gets the best of me...

PB, that's a pretty big Bullish Outside Bar on the 1HR..


I know the feeling. LoL

It is probably going to end up as a massive Bearish H4 PB once everyone works out that the measures taken are not sufficient enough to counter all the money that has been thrown into JPY.
  • #74,771
  • Sep 14, 2010 7:16pm Sep 14, 2010 7:16pm
Quoting Pinbar
Yeah, I just saw on the news that the JP government is selling Yen and buying the Dollar on a massive scale.

I think this is like putting eye drops in the Ocean.
Ok. Thank you for the update. I was wondering why all the yen pairs shot up like any thing.

I was short on CADJPY since y'day night. It was in money at 6.25 PM (UAS PST).. when I saw after few minutes, I was stopped out.

Jaroo, How do we analyze such bars influenced by goverment actions ? They may create a BUOB/BEOB or big bars.. but not created by geniune market..

Can you share your thoughts on this ?
  • #74,772
  • Sep 14, 2010 7:23pm Sep 14, 2010 7:23pm
Quoting cprao
Jaroo, How do we analyze such bars influenced by goverment actions ? They may create a BUOB/BEOB or big bars.. but not created by geniune market..
Why do we think that central banks arent part of the 'genuine market'?
When you have to shoot, shoot. Dont talk.
  • #74,773
  • Sep 14, 2010 7:27pm Sep 14, 2010 7:27pm
Quoting Jonnyislost
Hey Nuc

There is a quicker way,
If you display the "Market Watch" Tab next to the chart, it means you can have just one chart open with whichever template you need applied to it. Then you can drag and drop the pairs/markets listed on the left onto your chart window, and it replaces the current one.

For example if I wanted to see the EUR/JPY chart, I can just drag it over from the list and it replaces whatever's already there.

Hope it helps
Jonny

One down side though, any lines or zones you plot one one pair will show up around the same price on another.
  • #74,774
  • Sep 14, 2010 7:28pm Sep 14, 2010 7:28pm
Looks like a pretty small BUEOB to me. LOL
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  • #74,775
  • Sep 14, 2010 7:35pm Sep 14, 2010 7:35pm
Quoting joelcf
Why do we think that central banks arent part of the 'genuine market'?
the voice of reason
  • #74,776
  • Sep 14, 2010 7:41pm Sep 14, 2010 7:41pm
Quoting dan89
Can anybody explain the cause of this huge bullish bar ?
Many times the bar next bar will retrace to at least half of this large move. Would look for an entry around 1.5500ish for a long. check out the Daily it will give you a better feel of whats going on.
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  • #74,777
  • Sep 14, 2010 7:56pm Sep 14, 2010 7:56pm
Quoting joelcf
Why do we think that central banks arent part of the 'genuine market'?
I don't know for sure but I think they are not because

1. They participate occassionally, just to tilt the balance against the market sentiment.
2. Their partcipation is termed as an Intervention

So far, I could think only these two reasons.
  • #74,778
  • Sep 14, 2010 8:05pm Sep 14, 2010 8:05pm
Quoting cprao
I don't know for sure but I think they are not because

1. They participate occassionally, just to tilt the balance against the market sentiment.
2. Their partcipation is termed as an Intervention

So far, I could think only these two reasons.
Hey C

These are both reasons why you should pay even more attention if this is what you are deeming their participation in the market. Anyone who participates irregardless of their reasons is part of the genuine market. Don't forget the FX markets main purpose is not for speculation. You have everything from Retail to CB to Commercials and everything else in between.

The good news is that with PA you can interpret as is and work from there.
  • #74,779
  • Sep 14, 2010 8:05pm Sep 14, 2010 8:05pm
Quoting tubguy
....
How do I get an FxPro demo if I'm in the states?
not sure... what do u mean how?
get a demo from
http://www.fxpro.com

Quoting Mr Smith
..just put in a address somewhere else, I always use fake addresses for my demo accounts.
yah. for demo, u dont need to fill in the correct personal info.
i put in something like "name: crap", "email: [email protected]" etc
  • #74,780
  • Sep 14, 2010 8:07pm Sep 14, 2010 8:07pm
Quoting spookie94
One down side though, any lines or zones you plot one one pair will show up around the same price on another.
it wont necessarily show up on the same price on a different pair.

anyway, if that's the case, create a template which has no lines at all.
u may call that template 'template_bare', for example.
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