james16 Chart Thread

Here you go,chart from not so expert trader,but a good J 16 Learner.
Where is price headed?
Regards
Taz

http://img168.imageshack.us/img168/4404/usdjpy.gif

Here's another one. Where is price going?

Just about to solve your puzzle, 666doom.

I think it's going down.
* It seems to fluctuate around 90.00 which now acts as resistance.
* The latest move (as well as the chart in general) shows downward pressure
* The preceding bar closed beneath the low that happened about 3 weeks ago.

Here you go Hans,let me see if i am right.

Another fact the bar is a reaction caused by PPZ when bar was going down because of 2 day pin bar.
Damn these charts can be scary.

Regards
Taz

http://img703.imageshack.us/img703/4607/10111305.gif

Damn good analysis, 666doom. It reminds me of getting more into detail with my own charts.

Here you go Hans.
And please call me Taz, i am no ones Doom lol.
You got the FTA right.
The bar was closed below 89.00 so proper way was buy stop at 89.18 or something.
Regards
Taz

http://img577.imageshack.us/img577/5...djpyanswer.gif

Great stuff folks...

Those 2 day bars really confuse me, I mean how the hell do you know it is a PB?

Hello guys,
Here is some more fun.
Let me see who understands Pinbars better.
Regards
Taz
http://img197.imageshack.us/img197/9416/chart12131.gif

At least I picked the right direction. lol.

Hey TAZ......How do we define a 2 day PB?

I mean there must be some criteria for them?

This is something, I have previously overlooked.

Sir,
2 Day Pins are very confusing to me also.
But i think in the end we are looking for rejection of price irrespective of time.
I dont know where i heard this guess it was from Mike or Clockwork 71.
Yeah they are also called 2 bar reversals.
In the end it is just exhaustion at a strong PPZ level.
Just my words here sir,i know people here are far more ahead then me i am just a Newbie.
Habbeeb once said in his post that Pin bars are actually Head and Shoulders in smaller TF and some times according to me they are like Tower Tops it is like a wizards tower or a light house.
Wizards Tower is more faster rejection and means true selling or buying.
Regards
Taz

Hey Taz, do you mean these two bars? In my opinion they would not count as a 2d PB as the close of the 2nd is not within the bar preceding these two.

I'm taking a walk now. See you later.

Hey TAZ just Pinbar is fine, I have not been knighted yet. LOL

Wonder if both these examples would or would not be 2 PBs.


Yeah, a PB is very often a H&S on a lower tf.
I found that out last year while I was on a pilgrimage to discover what a PB was.




EDIT: I think we have just opened a fresh can of worms with this 2 day PB stuff.

The first picture looks better for an 2 Day Pin Bar but again the close is not in the first eye

John, please show us what defines a 2 day PB?


EDIT: SO if we have a 2 day PB, is it also possible to have a 2 day BE/BUEOB?

Ok i hope you understand what i draw there xD

Edit: New picture

If the one on the right is the 2 day PB, what is the difference between it and an IB?


No, I don't get the xD thing.

Hello Guys,
I did some R&D on Pin bars and here are the results i came up with.
A greatest Pinbar must have These characteristics:

1. A Good Pin bar always has an Open/Close between previous bar.
2. A Good Pin bar always has a very big nose.
3. A good Pin bar is always the one which can be found in Bigger TF.
4. The Nose of the Pin bar relative to strong trend it is fighting should be climatic.
5. We must have true rejection occurring at that Particular level.
6. A good Pin bar is always present at Swing High/Swing Low.
7. A Good Pin bar must always reverse the preceding trend.
That means a Pin bar must break and reverse the prior move.
8. A Good Pin bar should never be in any Traffic.
9. A Good Pinbar is always found with in a trending market at swings when the trend is retracing and is about to pick up momentum in the other Direction.
10. A Good Pinbar is always located around a Stong PPZ with confluence,at-least 3 Confluences is a must.
11. A Good Pin bar is never caused as a result of Profit taking we need true buying/selling.

12. A Good Pin bar after reading the story to the left must reveal temporary exhaustion or permanent lash.

13. a Pinbar is formed with rejection and while taking any bars as a pin bar combined the rejection must be identified,

14. rejection is independent of Time.

If any of the above criterias are missing in a Pin bar it is not a good one and you are risking your money.



Rejection:
The Price shows Rejection,which means Price is no longer wanting to go there,in fact i will saw it was a False break in the opposite direction and where one party was tricked into buying/selling while price was headed the other way.

Some of my Charts on rejection:

Chart 1 a 2 day PB on Eur/Gbp:
http://img514.imageshack.us/img514/7...rogbpchart.gif

Chart 2 the same 2 day PB bar in Smaller TF:

http://img602.imageshack.us/img602/1...ogbpchart2.gif

Chart 3 a bar people mistake for PB but is a doji but there is a H&S:

http://img88.imageshack.us/img88/9494/eurogbpchart4.gif


Chart 4 is the view of that Pinish bar in smaller TF:

http://img594.imageshack.us/img594/4...ogbpchart3.gif



Hope this helps anyone.
Regards
Taz

I don´t know i only read anywere that a 2 day PB looks like this

This a nice good looking 2 Day PinBar that is the chart from 666Doom

Yeah, I saw that...It struck me that it looks like a DBHLC that did not make it and that would make me wary of it. But, if that is a 2 day pb, why do we need or why does a DBHLC, even exist?

I knew we had opened another can of worms with this. LoL