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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

  • #77,061
  • Oct 10, 2010 9:27am Oct 10, 2010 9:27am
Quoting xmzhang
My first pick for next week. A-C weekly, nice bearish IPB at a swing high and @ BRN 10000.
yup!

I got my eyes on that one myself.
I believe . . .
  • #77,062
  • Oct 10, 2010 9:29am Oct 10, 2010 9:29am
Quoting xmzhang
My first pick for next week. A-C weekly, nice bearish IPB at a swing high and @ BRN 10000.
hey xmzhang,
for a bearish ipb, u actually want the ipb bar to be bearish .....
check the daily tf, it looks much better, bearish ipb off 1.000 BRN and also a double top
entry = close of ipb
stop loss = above bearish ipb
FTA = low of ipb
cheers
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Simplicity is the key to success
  • #77,063
  • Oct 10, 2010 9:35am Oct 10, 2010 9:35am
Quoting squeezy
hey xmzhang,
for a bearish ipb, u actually want the ipb bar to be bearish .....
check the daily tf, it looks much better, bearish ipb off 1.000 BRN and also a double top
entry = close of ipb
stop loss = above bearish ipb
FTA = low of ipb
cheers
Just like the color of the bar is not extremely important with pin bars likewise it isn't all that important for IPBs either. Don't get me wrong, a bearish IPB with a close below it's open is always preferred but a bullish close will still do given that the IPB (bearish) doesn't close very near or at it's high.

Clearly, there are hints of rejection off that prior week's high - needless to say that is of 0 surprise due to the VBRN.

g.
I believe . . .
  • #77,064
  • Oct 10, 2010 9:38am Oct 10, 2010 9:38am
will be watching this as well.

g.
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I believe . . .
  • #77,065
  • Oct 10, 2010 9:48am Oct 10, 2010 9:48am
Quoting ghous
Just like the color of the bar is not extremely important with pin bars likewise it isn't all that important for IPBs either. Don't get me wrong, a bearish IPB with a close below it's open is always preferred but a bullish close will still do given that the IPB (bearish) doesn't close very near or at it's high.

Clearly, there are hints of rejection off that prior week's high - needless to say that is of 0 surprise due to the VBRN.

g.
yup cant agree more with u Ghous
i usually reverse the ipb to form a bearish pin @ swing high for better viewing
i also look at the story that bar is trying to tell on a lower tf, i see around 40pips hard stop
what i like is the low risk : high reward the ipb provides
cheers
Simplicity is the key to success
  • #77,066
  • Oct 10, 2010 9:57am Oct 10, 2010 9:57am
Quoting xmzhang
My first pick for next week. A-C weekly, nice bearish IPB at a swing high and @ BRN 10000.
Hi
IPB means Inside pinbar right?
  • #77,067
  • Oct 10, 2010 10:09am Oct 10, 2010 10:09am
Quoting john225
Hi
IPB means Inside pinbar right?
IPB=Inverted Pinbar
  • #77,068
  • Oct 10, 2010 10:13am Oct 10, 2010 10:13am
Quoting Adilius07
IPB=Inverted Pinbar
Ah ok Thanks Adilius that makes more sense to me.
Because i thought IPB means Inside PinBar and saw the chart from zhang and was confused why he is saying that it is InsidePinBar
  • #77,069
  • Oct 10, 2010 10:25am Oct 10, 2010 10:25am
watching this trade for next week

could do with a bigger pin but feel it might be worth a shot

major support

1.618 extension, similar drives

are we heading back up?

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  • #77,070
  • Oct 10, 2010 11:13am Oct 10, 2010 11:13am
Quoting pocrel
watching this trade for next week

could do with a bigger pin but feel it might be worth a shot

major support

1.618 extension, similar drives

are we heading back up?

Attachment
Hey pocrel

I get very nervous when I see people trying to take these. This one is super super tiny and trading right into the BRN of 1.5500 Please be careful
  • #77,071
  • Oct 10, 2010 11:26am Oct 10, 2010 11:26am
Quoting mbqb11
Hey pocrel

I get very nervous when I see people trying to take these. This one is super super tiny and trading right into the BRN of 1.5500 Please be careful

yes the BRN is in the way but if we can get past that we might have a nice move up, if not i will be watching for a bigger pin into the old major support

also i place more significance on the 000 as 00's not as strong witch i suppose is obvious

maybe get stop up b/e as we approach the 1.5500 and hope we can push past it
  • #77,072
  • Oct 10, 2010 12:12pm Oct 10, 2010 12:12pm
Quoting Pinbar
In MT4, right click on the chart you want to save, then follow the steps in the screen shots.

For some reason, the order of the pics posted is wrong, just make sure you follow them in the order of 1,2 &3.

And when it ask you, where you want to save it, change the default setting to the desktop, or it will save it inside the Mt4 templates folder, which is a pain to get to when you want to post the pic.
Thanks pin bar you are a champ !!!
  • #77,073
  • Oct 10, 2010 12:19pm Oct 10, 2010 12:19pm
Where is Ace why he isnīt posting his wonderfull charts anymore?
  • #77,074
  • Oct 10, 2010 12:44pm Oct 10, 2010 12:44pm
Quoting john225
Where is Ace why he isnīt posting his wonderfull charts anymore?
I'd second that.

He runs an amazingly simple system based on 2 widely used sources of confluence (PPZs and trend lines).

I was looking at this the other day, and it reminded me of Ace's charts. I hope he'll drop by soon.

g.
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I believe . . .
  • #77,075
  • Oct 10, 2010 12:56pm Oct 10, 2010 12:56pm
Quoting jarroo
The 2 Day chart shows it as a BUOB that broke . . a good sign, meaning the BUOB is validated. Even if it wasn't validated, by not breaking, a retracement entry is still viable as long as it is well supported.

The general retracement level is the previous bar High with BUOBs (previous bar Low with BEOBs). . .

But if there is other levels witnin the Outside Bar that look strong, like a PPZ level and/or BRN with other confluence (Fib levels, 50% Ret., Divergence), strong proven Support (BUOB), strong proven Resistance...
Jarroo, Thank you very much for sharing your thoughts. When you say "previous bar High/Low", you would be referring to the immediate previous bar high/low's , right ?
  • #77,076
  • Oct 10, 2010 1:12pm Oct 10, 2010 1:12pm
A DBHLC has been formed on the EURGBP Daily and a Doji(i think it is the name of the Bar ^^) on the weekly.

But for me the RN which is a PPZ too is to near.

What you think about it?
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  • #77,077
  • Oct 10, 2010 2:26pm Oct 10, 2010 2:26pm
I'm away for 5 days and now I'm 50 pages behind
Epic !
  • #77,078
  • Oct 10, 2010 2:34pm Oct 10, 2010 2:34pm
Quoting lallous
I'm away for 5 days and now I'm 50 pages behind
Epic !
Can you imagine my shock after 15 days away... this thread already went over 5000 pages when I came back...
  • #77,079
  • Oct 10, 2010 4:05pm Oct 10, 2010 4:05pm
Quoting squeezy
yup cant agree more with u Ghous
i usually reverse the ipb to form a bearish pin @ swing high for better viewing
i also look at the story that bar is trying to tell on a lower tf, i see around 40pips hard stop
what i like is the low risk : high reward the ipb provides
cheers
In that case we will even have a better R:R, if that's what you like http://cdn.forexfactory.com/images/icons/icon10.gif
Pipcrawler
  • #77,080
  • Oct 10, 2010 4:27pm Oct 10, 2010 4:27pm
Quoting xmzhang
In that case we will even have a better R:R, if that's what you like http://cdn.forexfactory.com/images/icons/icon10.gif
yup better r:R is always good
i was suspecting we cld have gaps sunday open, now calc ur risk to reward
entry on open and sl above the bar before the ipb as its slightly higher would give u about 36 pips
fta at low of bearish ipb is about 110pips = approx 3 Reward
now if u have above 50% success rate, u r sure to be a winner
lets see how it plays out
cheers
Simplicity is the key to success
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