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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

  • #79,001
  • Nov 1, 2010 5:27am Nov 1, 2010 5:27am
Quoting Pinbar
Isn't one of those days the Sunday bar?
you're right, didn't notice it was a Sunday bar but I think the PB is still decent even if we ignored the Sunday bar. It still closes under the Fri bar.

On another note, the 129 level of the AUNZ is holding up pretty well (resistance). Currently a 2 bars merge on the H4 produces an impending bearish PB that is off 129........Very nice and supports the theories you and Jaroo mooted earlier on regarding this pair after the occurence of the wkly BEOB.
  • #79,002
  • Nov 1, 2010 6:56am Nov 1, 2010 6:56am
Hey Jarroo

Funny thing after your PM, I went back and watched one of Jims videos and Low & behold. It is exactly as you were saying.

More eye bleeding is in order.
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  • #79,003
  • Edited 7:19am Nov 1, 2010 6:59am | Edited 7:19am
Quoting ertorque
you're right, didn't notice it was a Sunday bar but I think the PB is still decent even if we ignored the Sunday bar. It still closes under the Fri bar.

On another note, the 129 level of the AUNZ is holding up pretty well (resistance). Currently a 2 bars merge on the H4 produces an impending bearish PB that is off 129........Very nice and supports the theories you and Jaroo mooted earlier on regarding this pair after the occurence of the wkly BEOB.

Yeah, but it looks better with the Sunday bar in there.

If we take away the Sunday bar, that PB both opened and closed above the 129 RN. It may be more like an IPB setup.


If we look at it on the weekly, it does not look impressive at all, GBP/JPY is almost on the floor. It also looks like we have broken out of that downward channel.
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  • #79,004
  • Nov 1, 2010 7:09am Nov 1, 2010 7:09am
Nice office Pinbar

And the car is there to play when the James16 is too much for you and you need a turn away from it ? ^^
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  • #79,005
  • Edited 7:33am Nov 1, 2010 7:10am | Edited 7:33am
Quoting Pinbar
I got it, I think you mean these previous highs.
This was a classic setup.

Weekly BEOB price retraced back to the broken support with 61% fib confluence (one for the touch traders) and formed a 1hr DBHLC, 2hr pin then a 4 hr pin.
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  • #79,006
  • Nov 1, 2010 7:24am Nov 1, 2010 7:24am
Quoting john225
Nice office Pinbar

And the car is there to play when the James16 is too much for you and you need a turn away from it ? ^^

Never gets that bad....!

The car came on a carton of juice or something, it was neat I decided I would keep it and use it look at and remind myself of the possible goals if we do this right. I mean, maybe I can buy another tin car. LoL
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  • #79,007
  • Nov 1, 2010 7:26am Nov 1, 2010 7:26am
Quoting lovejoy80
This was a classic setup.

Weekly BEOB price retraced back to the broken support with 61% fib confluence (one for the touch traders) and formed a 1hr FBHLC, 2hr pin then a 4 hr pin.

Nice LJ. No prisoners eh? I like it.

You can run but you can't hide price, we will get you on any time frame.
  • #79,008
  • Nov 1, 2010 7:30am Nov 1, 2010 7:30am
Quoting xmzhang
I'am also watching this french stock, waiting for a pullback to the 9500.
Sell order trigger on the 4H-TF, my keylevel was the BRN @ 9500, but price pulled back to the RNB @ 9400 and gave me a beautifull PB. FTA @ RNB 9200
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Pipcrawler
  • #79,009
  • Nov 1, 2010 7:42am Nov 1, 2010 7:42am
Here is the pair i was looking at this weekend.

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And here is a cherry (a 32 years low at BRN 80.00 ,... @79.65 if we're precise ). Im very curious whats gonna happen around here. As i see it if it acts as support we may revisit 85.00 without much problems, and if it breaks who knows how low can it go...

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  • #79,010
  • Nov 1, 2010 8:40am Nov 1, 2010 8:40am
Quoting lovejoy80
This was a classic setup.

Weekly BEOB price retraced back to the broken support with 61% fib confluence (one for the touch traders) and formed a 1hr DBHLC, 2hr pin then a 4 hr pin.
Great entry.

Did you close it allready or do you plan to ride it down (in case the weekly BEOB breaks)?

Nos
  • #79,011
  • Nov 1, 2010 10:04am Nov 1, 2010 10:04am
Quoting Be Cool
Mike are you saying the fact that the FTA being too close at the upper consolidation area that may now act as support once price broke out of it -which made this PB more likely to fail?
Hey BC

Careful here again, remember it isn't a pnibar till the low breaks so it isn't a failed bar. Why do I think it didn't break? Well I just think there is not much too it. Remember just b/c something fits the shape of a pin or an outside bar, or any other bar doesn't mean we should trade it. We want to unravel everything and have a story behind the bar. That story is bar size/formation/location/confluence etc. To me this is just a small tiny pinbar. Nothing more, nothing less. So I just simply pass on those(again personally)

Best
Mike
  • #79,012
  • Nov 1, 2010 10:34am Nov 1, 2010 10:34am
Quoting Atc
Not fishy...but appears to be strong ppz R we are trading into on the break...therefore personally i would rather enter on a retrace to 1.29 or 1.3 areas depending on what i see....I prefer on BEOB/BUOB to enter on retrace especially when the bar is so large....I don't do this all the time however...depends on PA...and if i can watch it since I work full time
http://cdn.forexfactory.com/attachme...1&d=1288526325

nice retrace to 1.29 with 2h PB close below ...would this be a nice entry for PA lower? Couldn't enter working
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  • #79,013
  • Nov 1, 2010 10:39am Nov 1, 2010 10:39am
Quoting Pinbar
This is weird.

Yesterday the Monthly PB close was within the prior bars high.

Yesterday was October 31st and no markets were open.

Today is Nov1st and now the close of the monthly PB is outside the high of the previous bar on this IBFX feed.

I suppose it is the Sunday bar getting added to the monthly PB.
PB, I'm glad you attest that. I thought I was hallucinating when I looked at the chart this morning.

Quoting john225
Nice office Pinbar

And the car is there to play when the James16 is too much for you and you need a turn away from it ? ^^
I think that reminds PB of what he's going to do with all that forex money he earns.

BTW, John, I also like and watch the EURGBP. It has some great confluence: PB-like bar on the monthly, two-week-PB on weekly, retrace to triangle and downtrend TL, strong fib confluence on monthly/weekly chart, break of daily TL, nice PPZ/flip zone above. Two things that stand out against it are what Jarroo mentioned about it not closing strong under 0.87 and the fact that it did not quite make it to 0.9000.
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Thanks J16, Sam Seiden, Udine and Jacko
  • #79,014
  • Nov 1, 2010 12:03pm Nov 1, 2010 12:03pm
How about this one , NZDCAD has hit the extension 161.8% from a previous swing low , also hit solid PPZ which is around 7830-7860 , the RSI is looking down and a Pinbar has formed.

I want to ask you guys to check if it is a valid PIN as it closed 1 pip above the high of the previous candle on instafx , please check and let me know .
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  • #79,015
  • Nov 1, 2010 1:00pm Nov 1, 2010 1:00pm
Hello all!

I took a demo audcad trade. Thought that 1. there´s an important level and the bar closed above it, 2. a well sized pin and 3. a powerful uptrend. But is there really space to go upwards? The situation is a bit like MMM couple of days ago. Please if anyone could share thoughts about this trade, much appreciated!

This lurker says thank you very much everyone!
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  • #79,016
  • Nov 1, 2010 1:03pm Nov 1, 2010 1:03pm
Quoting NosferatuMan
Great entry.

Did you close it allready or do you plan to ride it down (in case the weekly BEOB breaks)?

Nos
I closed my ANZD trades - I was planning to hold onto them but am impatient and when it did nothing for a few hours I decided to take full profit.
  • #79,017
  • Nov 1, 2010 1:17pm Nov 1, 2010 1:17pm
Quoting nuclear62
Hello all!

I took a demo audcad trade. Thought that 1. there´s an important level and the bar closed above it, 2. a well sized pin and 3. a powerful uptrend. But is there really space to go upwards? The situation is a bit like MMM couple of days ago. Please if anyone could share thoughts about this trade, much appreciated!

This lurker says thank you very much everyone!
Hey Nuc

You are very very close. By saying is there really space to go upwards. The answer is no, b/c of the location of this pin at a swing high that means your first trouble area is SUPER close. So I would be looking right to the previous bar high for that trouble area and you can see it bounced right there(can also throw up the next rd number of 1.0100 to see why). Now does that mean price might not shoot straight through? Who knows, but when it bounces that hard I think getting out makes more sense then holding and "hoping" it continues on. Once you can do that with these types of bars you will not take as many losses in these situations.

This goes very good with what me Jarroo and Pinbar were doing over this weekend here
Mike
  • #79,018
  • Nov 1, 2010 2:45pm Nov 1, 2010 2:45pm
What id love to see on E/G...
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Trade Smart
  • #79,019
  • Nov 1, 2010 3:23pm Nov 1, 2010 3:23pm
Thoughts on this PB for later?

 

  1. Nice pinbar
  2. With the trend
  3. RN and Monthly Pivot confluence

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"Fail to prepare, prepare to fail."
  • #79,020
  • Nov 1, 2010 4:13pm Nov 1, 2010 4:13pm
snagging the G/j after a retrace.

similar setups on aud/jpy and Nzd/jpy but this one looks the best.

http://i7.photobucket.com/albums/y28.../jamesgj-1.jpg
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