Hello,
I was just wondering about psychology behind pin bars and outside bars.
Can anyone point me in the right direction?
I was just wondering about psychology behind pin bars and outside bars.
Can anyone point me in the right direction?
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedHello,
I was just wondering about psychology behind pin bars and outside bars.
Can anyone point me in the right direction?Ignored
QuoteDisliked... During the Pinocchio period of trading, when the price is temporarily above resistance in an uptrend or below support in a downtrend, either buyers or sellers have a chance to push prices in their direction, but they fail...
QuoteDisliked... it is the trading beyond the resistance or support level in question that indicates that the signal is false. We can also take this a step further by saying that the bigger the nose, the bigger the lie...
QuoteDisliked... To put it another way, the wider the bar, the greater the number of traders that have the potential to be locked in at losing prices...
Dislikedsome of the new people here really need to be careful .. go back over the thread and understand what is A+
How is a small H4 pin that is totally COUNTER the trend as can be seen on your own chart, A+ ?
Granted it might work for a few, at least u might get safe at BE, but that is by no means A+
Please be careful until u understand low risk setupsIgnored
DislikedHey Safe
I like the location, but the size of bar and time of day makes that easy pass in my book....Ignored
DislikedBut look who is back posting again.
A brave trader with a big heart.
.Ignored
DislikedWow !! now thats called experience ( which I clearly lack). When I looked at the original post, I thought it was a nice bar ( at PPZ- resistance becoming support, and 50% retracement). I did not trade it after reading your post.
Now when I look at the chart, there is no momentum and there are 2 small bars after that pin and not able to breakout. Brilliant observation Mike !!
Can you please share some good looking pinbars you will call A++ ( just from size perspective - not location criteria) so I learn to visually compare and understand what it...Ignored
DislikedThanks Yes you're right. I didnt see the fib confluence.
To tell you the truth i didnt imagine it would hit my TP at 1.5700 . I was confident about the TP1, then i saw that because of the FOMC statement the pair was going up with a lot of momentum and i thought the best i can look out for is the TP2 @1.5620 . I closed the majority of the position at 1.5600 and since it was a free trade i went to bed without worring and i just let it go. And when i woke up i found a nice surprise-my TP at 1.5700 was hit
Interesting comparison, and even...Ignored
DislikedHey Imp
Yes time of day goes like this
Europe/US Liquid most active sessions(with the overlap being the most active and it fades after lunch of NY )
Asian/Aust sessions are notoriously he slowest thinnest, so one has to ask themselves how much a move is going to sustain or if they are willing to hold through that. Also things like how much weight should we give to a bar that may form after the active sessions as simply b/c the session is winding down and people are tidying up their positions.
as for some Pins, who better then the big...Ignored
DislikedNah... Raczek is right...
Hi Jarroo, Raczek and the rest of the gang. It's great to see the same old crowd here.
Gotta run now...Ignored
DislikedIs that a formation or setup of note?
Hey, PB, how'd you get the pip spread to show on your chart?
Cheers
DIgnored
DislikedHey melvin,
It's best to take into consideration all bars to the left of the pin bar. We want the pin bar to protrude "in space" and close strongly inside prior highs or lows. How much takes practice, but I attached some charts to illustrate the difference.
Hope this helps,
-- DannyIgnored
DislikedIf we wrap the weekly chart in these extreme ranges in two different colors and then, move to a daily chart, look what we get!Ignored
DislikedHi everyone,
Would appreciate any feedback on my thought process on this (demo) trade, GBP/AUD daily....Ignored
DislikedComplete newb here. Been reading J16 free stuff for about 2 years and still struggling.
I wanted to post my graph and share with the above poster that the bars on my graph don't at all line up to the above posters. I know the broker feeds can be different but it seemed quite a bit different.
Any explanations from the seniors?
Thank you, I will be posting more since just reading is not changing my trading account.Ignored
DislikedYou may have just found your own thing there, Pb.
I have always thought that when we start learning this material, we can get a better understanding of it, if we put it in our own words or format or analogies or whatever. . .it will sink in quickier.
Keep at it, Pb.Ignored
DislikedHey FX
Welcome glad to see you posting and getting involved, hopefully we can shine the light a bit for you
You are correct it is simply broker feeds. Some feeds may deviate up to 4hrs and during that time can drastically change the look of one brokers close times vs another. This is of course cause FX is not a centralized market and most brokers charts close in respect to their timezones. I personally use a 5pm est broker close
Let us know if you have more questions
MikeIgnored
DislikedSorry, a bit late with the reply, been busy over at the PF.
Yes, the cup and handle is a reversal pattern, bullish or bearish depending on the orientation of the cup.
In the case of USD/JPY Bearish. Just showing this on H1 because we can see how large it really is.
That said, I would only trade this pattern with confirming J-16 PA.
One indicator is for the price, the other is the spread indicator.
Here you go.Ignored
DislikedComplete newb here. Been reading J16 free stuff for about 2 years and still struggling.
I wanted to post my graph and share with the above poster that the bars on my graph don't at all line up to the above posters. I know the broker feeds can be different but it seemed quite a bit different.
Any explanations from the seniors?
Thank you, I will be posting more since just reading is not changing my trading account.Ignored