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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

  • #81,961
  • Dec 8, 2010 7:04pm Dec 8, 2010 7:04pm
Quoting james16
Happy birthday mike.

Appreciate you man.
thanks my texan brotha
  • #81,962
  • Dec 8, 2010 7:12pm Dec 8, 2010 7:12pm
Quoting Donkey
I'll give it a shot...
Targrt one FTA gives nice 1:1 R:R.

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Anything can happen - You never know
  • #81,963
  • Dec 8, 2010 8:18pm Dec 8, 2010 8:18pm
Quoting xmzhang
I'am already long off a 1H-PB @ 13200. FTA @ 13250 minor PPZ, target would be the high of that weekly PB, we also have to deal with the 13300. SL a few pips below the 1H-PB @ 13175.
did you spot it on the weekly then dropped down to the 1hr?
  • #81,964
  • Dec 8, 2010 9:02pm Dec 8, 2010 9:02pm
I've had this one open since Monday. If it doesn't trigger by tommorow would you recommend canceling it?
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  • #81,965
  • Dec 8, 2010 9:29pm Dec 8, 2010 9:29pm
Quoting spookie94
I've had this one open since Monday. If it doesn't trigger by tomorrow would you recommend canceling it?
i think it depends on how you perceive this trade setup.
is it a good/very good setup for you?
what is/are your target/s?
can you find other much better setups to move on to?

not all setups break on the succeeding bar: sometimes it takes a few more (ranging) bars before a PA setup finally breaks in your favor. (of course, not all setups break/move in our favor)
& to put things in perspective, this is a weekly bar, so it may take some time for it to break.
(NOTE: i havent talked about the trouble areas)

so the decision is yours.
  • #81,966
  • Dec 8, 2010 10:14pm Dec 8, 2010 10:14pm
anyone comments about this pinbar?
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meine augen sind die sterne
  • #81,967
  • Dec 8, 2010 10:34pm Dec 8, 2010 10:34pm
Quoting jarroo
I like to see a close above previous Resistance occurr on a higher time frame but this also works . .nice job.

Why not move to break even or are you looking for a more long term play here?


Hmm, I reevaluated the situation after this comment and moved to BE+.

I think I had the monthly pivot slightly lower than it actually was, therefore I am now a few pips below the monthly PPZ & I took off another 0.01/

Not much I know, but it is hedging the account in the black.

Summary: Deposit/Withdrawal: 0.00 Credit Facility: 0.00 Closed Trade P/L: 43.95 Floating P/L: 7.34 Margin: 31.66 Balance: 3 143.26 Equity: 3 150.60 Free Margin: 3 118.94
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  • #81,968
  • Dec 8, 2010 10:56pm Dec 8, 2010 10:56pm
Quoting Donkey
I'll give it a shot...

Your target #1 would be the ultimate target for the Daily PB, previous bar Low(s). I like the .9800 RN as the 1st target or FTA. There is a bit of PPZ level there (white).

Your 2nd target is perfect for the Weekly BEOB if it gets there and breaks, of course. Good eye.

I like to define my targets on the TF that the setup was presented on, as you probably know, D. But nothing wrong with looking at the higher TF PA to work in those longer term targets.
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Indicators show the past. Price Action "Indicates" the future.
  • #81,969
  • Dec 8, 2010 11:19pm Dec 8, 2010 11:19pm
Quoting spookie94
I've had this one open since Monday. If it doesn't trigger by tommorow would you recommend canceling it?

sChaos made some good points, as always . .thanks brother . .

That Weekly Pb is in the middle of . . . a mess; Weekly consolidation. Not saying that it doesn't have potential but its in a bit of a crowd . .don't you think? Not at a swing Low, more so in the middle of a wedge formation. Not the best setup.

Also, you can see why it failed to break . . running into some traffic . .and my good old friend, BEOB's previous bar Low. Didn't I mention I like those Outside bars.
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Indicators show the past. Price Action "Indicates" the future.
  • #81,970
  • Edited 11:41pm Dec 8, 2010 11:28pm | Edited 11:41pm
Quoting aserbfx
anyone comments about this pinbar?
Hey aserb.

Its a bit small and I would like the head of that PB where its nose end is located . .right at your blue line PPZ level. Nice strong uptrend though.

That blue line looks sweet. . .Resistance . .Price breaks through and closes above . . .and now its acting as Support. Nice.

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Indicators show the past. Price Action "Indicates" the future.
  • #81,971
  • Dec 8, 2010 11:44pm Dec 8, 2010 11:44pm
Quoting Pinbar
Hmm, I reevaluated the situation after this comment and moved to BE+.

I think I had the monthly pivot slightly lower than it actually was, therefore I am now a few pips below the monthly PPZ & I took off another 0.01/

Not much I know, but it is hedging the account in the black.

Summary: Deposit/Withdrawal: 0.00 Credit Facility: 0.00 Closed Trade P/L: 43.95 Floating P/L: 7.34 Margin: 31.66 Balance: 3 143.26 Equity: 3 150.60 Free Margin:...

Keep working it out there buddy . . .
Indicators show the past. Price Action "Indicates" the future.
  • #81,972
  • Dec 8, 2010 11:55pm Dec 8, 2010 11:55pm
Quoting james16
Sorry ive been a stranger.

You may have been a stranger as of late . .but you're been here in spirit with every post, Big Guy.


btw . .great charts .. . .
Indicators show the past. Price Action "Indicates" the future.
  • #81,973
  • Dec 9, 2010 12:05am Dec 9, 2010 12:05am
thanks old buddy.

if i could just rewire my brain to not feel guilty when i leave for a couple of weeks it would be much easier.

probably never gonna happen.

its just me.


Quoting jarroo
You may have been a stranger as of late . .but you're been here in spirit with every post, Big Guy.


btw . .great charts .. . .
  • #81,974
  • Dec 9, 2010 12:09am Dec 9, 2010 12:09am
Quoting jarroo
You may have been a stranger as of late . .but you're been here in spirit with every post, Big Guy.


btw . .great charts .. . .

You can say than again, Jaroo!

Thanks to Jarroo, Mike, Supreme, Ghous and others, if I may add.



PS: I am making this the occasion to practice the Big Guy's eyeballing method everyday, till I my eyes either bleed or learn to see them there PPZ.


Here is one I just eyeballed on the Daily. Looks like a Jarroo chart with his usual two lines laying out where to look for bearish and bullish PA.
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  • #81,975
  • Dec 9, 2010 12:10am Dec 9, 2010 12:10am
Quoting Pinbar
GBP/NZD Monthly PB.

Took one third off at 150 pips +spread.

Looks like this one may be a runner.

Just moved the SL above the 2,09000 and below the weekly pivot and 365 EMA on H4.
Hi PB

Entering this trade with large monthly stop and tightening it so quickly is risky imo. The momentum upside is good but the area where your stop is at could be easily eaten by retracement. And if you found signal to enter on h4 tf then would it be better to enter on this timeframe into the monthly setup with tighter stop. Imo if its monthly trade then the stop should give more room to breath. Starting with such a big stop and then micro managing it with very low timeframe compared to monthly will give you very small profits compared to risk taken at the begining. I think it should be monthly trade or a 4h trade with tighter stop and possible higher r:r. I hope its all clear.
  • #81,976
  • Dec 9, 2010 12:14am Dec 9, 2010 12:14am
Quoting james16
thanks old buddy.

if i could just rewire my brain to not feel guilty when i leave for a couple of weeks it would be much easier.

probably never gonna happen.

its just me.
You got a lot of good people here, Jim . .and new ones coming in all the time . . .we'll keep the home fires burning, my friend.
Indicators show the past. Price Action "Indicates" the future.
  • #81,977
  • Dec 9, 2010 12:19am Dec 9, 2010 12:19am
Quoting Greenhaze
Hi PB

Entering this trade with large monthly stop and tightening it so quickly is risky imo. The momentum upside is good but the area where your stop is at could be easily eaten by retracement. And if you found signal to enter on h4 tf then would it be better to enter on this timeframe into the monthly setup with tighter stop. Imo if its monthly trade then the stop should give more room to breath. Starting with such a big stop and then micro managing it with very low timeframe compared to monthly will give you very small profits compared to risk...

You could be right, maybe I got spooked.

I can see how it does make a bad habit out of this and it will as you say, cut the runners short and screw up my MM.

Thanks
  • #81,978
  • Dec 9, 2010 12:48am Dec 9, 2010 12:48am
Quoting Pinbar
You could be right, maybe I got spooked.

I can see how it does make a bad habit out of this and it will as you say, cut the runners short and screw up my MM.

Thanks
You got strong monthly signal and good entry on daily/h4 with tighter stop. In this case its good to leave some room for trade and stop thinking about. A lot of times top to bottom analysis will give you some good runners and i have a rule to not intervene untill the next bar is close. No pain no gain :=)
  • #81,979
  • Dec 9, 2010 12:58am Dec 9, 2010 12:58am
Quoting Greenhaze
You got strong monthly signal and good entry on daily/h4 with tighter stop. In this case its good to leave some room for trade and stop thinking about. A lot of times top to bottom analysis will give you some good runners and i have a rule to not intervene untill the next bar is close. No pain no gain :=)
GH. By "Top to Bottom" do you mean, the higher TF PA and lower TF entry?

Thanks in advance.
  • #81,980
  • Dec 9, 2010 1:19am Dec 9, 2010 1:19am
Quoting Pinbar
GH. By "Top to Bottom" do you mean, the higher TF PA and lower TF entry?

Thanks in advance.
When you open a chart and start to analyse it from monthly chart going all the way down to h4 then you could call it top down or top to bottom TA.
It is very common method to pinpoint a good probability entry with tight stop. There is a bottom up analysis aswell but i dont understand the point of it.
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