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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

  • #85,961
  • Jan 16, 2011 9:19am Jan 16, 2011 9:19am
Can't help but think of a certain picture of a bearish pinbar
  • #85,962
  • Jan 16, 2011 9:24am Jan 16, 2011 9:24am
What you think about this one?
A nice looking Pinbar on retest of the .9975 line? FTA would be the swing low.
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  • #85,963
  • Jan 16, 2011 9:32am Jan 16, 2011 9:32am
Waiting patiently for the PA to reach the S&R level and then a good Bearis signal. Any comments??
Cheers
Novice
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  • #85,964
  • Jan 16, 2011 9:46am Jan 16, 2011 9:46am
Quoting Ifmyante
Can't help but think of a certain picture of a bearish pinbar
Forget that bar and read what our wise senior traders wrote about it here :

mbqb11
http://www.forexfactory.com/showpost...ostcount=85853
http://www.forexfactory.com/showpost...ostcount=85942

ghous
http://www.forexfactory.com/showpost...ostcount=85924

  • #85,965
  • Jan 16, 2011 9:51am Jan 16, 2011 9:51am
Quoting ts63
Forget that bar and read what our wise senior traders wrote about it here :

mbqb11
http://www.forexfactory.com/showpost...ostcount=85853
http://www.forexfactory.com/showpost...ostcount=85942

ghous
http://www.forexfactory.com/showpost...ostcount=85924

Thanks for that mate

If you know the image I'm referring to, you'll understand why I've asked the program to delete my post.

It hasn't disappeared yet. Maybe it takes a little time
  • #85,966
  • Jan 16, 2011 10:41am Jan 16, 2011 10:41am
looking good?
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Wellcome to the good life!
  • #85,967
  • Jan 16, 2011 10:46am Jan 16, 2011 10:46am
Quoting yarin
looking good?
wouldnt it be better to short from your 'TP line' or maybe from 1.3660, since this pair is losing strenght for the last year or two... remember its easier to ride the trend than go against it

just my two cents...
  • #85,968
  • Jan 16, 2011 11:25am Jan 16, 2011 11:25am
Quoting vasmiza
Hey guys,
what do you think of this weekly setup below on the EUR/GBP?...
What would you guys rate this setup??
The daily seems quite good aswell. Nice pin formation...
...
Hello Harry,
on the 1st chart, that DBHLC is at a swing low. (i can understand if u will argue that this DBHLC is at a lower swing high)
it is going straight ahead into/right at support around 0.82 - 0.83.

from my perspective, weekly is bullish biased with consolidation tint, currently.
monthly is bullish; daily is consolidation mode with slight bearish bias(with price below 0.85)

Quote
Is there something wrong with me or am I seeing pins everywhere I look?
nothing wrong..
just remember not all pins are tradeable or will turn into profit when traded.

on your 1st chart, u said
"from my understanding, this pin has got to be A++..."
well, somehow u can, 'yes', imho.
it has tons of space to the left.
but if u look at the huge run up prior to it & the pinbar being relatively small, u would at least have some concern.
personally, i would go down to lower timeframes (H1 to Daily) to see PA &/or trade this.
what's good about this pin is that it broke with very good momentum. (in other charts like IBFX's, however, this pin looks like a doji/indecision bar.)

just my view

btw, hope everything's ok in your part of the Aussie land
  • #85,969
  • Jan 16, 2011 11:34am Jan 16, 2011 11:34am
Quoting yarin
looking good?
Your R:R doesn't look favourable with a turning point directly ahead of you at 1.3657ish, and Ppfx makes a valid point.

See if you get a pullback and break of that area, and the next. Then there's lots of space to grow

Just my 2c too
  • #85,970
  • Jan 16, 2011 11:56am Jan 16, 2011 11:56am
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meets my seal of approval RN DBLHC
  • #85,971
  • Jan 16, 2011 12:30pm Jan 16, 2011 12:30pm
I like this 4H Gold IB setup.
Location is also good I believe...
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  • #85,972
  • Jan 16, 2011 1:24pm Jan 16, 2011 1:24pm
Quoting Adilius07
I like this 4H Gold IB setup.
Location is also good I believe...
Hi Adilius. Be carefull when playing this bar at the open of the market when the liquidity is still low. IMO This bar is showing lack of liquidity when the market close before the weekend instead of indecission. On the other hand if you zoom in to m15 tf you'll see very well defined resistance area at the top of the bar which could be helpfull to play it very tight but i would easily skip that trade.
Take care.
  • #85,973
  • Jan 16, 2011 1:26pm Jan 16, 2011 1:26pm
Quoting Greenhaze
Hi Adilius. Be carefull when playing this bar at the open of the market when the liquidity is still low. IMO This bar is showing lack of liquidity when the market close before the weekend instead of indecission. On the other hand if you zoom in to m15 tf you'll see very well defined resistance area at the top of the bar which could be helpfull to play it very tight but i would easily skip that trade.
Take care.
Thanks Greenhaze. Very good point. I will not trade it, will only watch.
  • #85,974
  • Jan 16, 2011 1:29pm Jan 16, 2011 1:29pm
Hi guys

Have done my scanning on weekly/daily and do not see any outstanding setups(A+) at the moment. A few areas of interest to watch but waiting patiently until the technicals justify an entry.........just wondering if anyone else is seeing any good setups just now?

Kal
  • #85,975
  • Jan 16, 2011 1:43pm Jan 16, 2011 1:43pm
Also guys, as Dan Gilbert pointed out, Monday is a bank holiday in the USA. MLK Jr. Day. I don't know if I will trade on Monday or not, but it will be in the back of my mind, knowing the liquidity will be lower than normal.
  • #85,976
  • Jan 16, 2011 2:37pm Jan 16, 2011 2:37pm
Thanks Pin. I also read ghous's analysis on this and its similar to what you are saying. I guess the up move is to big for that small pinbar.

Ralph

Quoting Pinbar
Sorry, I must have missed this one, I see mike mentioned the strong uptrend which I also totally agree with. I would also like to add, that this bar size compared to the bullish bars is not convincing. Also, I am not sure if that bar closed like that on your chart but, if it did, the close of this bar is outside the eye of the previous bar and nearly half way up the bar. I don't like this in a bearish PA setup.
SNR with Price Action...
BitCrossNG Return Today: na
  • #85,977
  • Jan 16, 2011 2:41pm Jan 16, 2011 2:41pm
Quoting Kalbar
Hi guys

Have done my scanning on weekly/daily and do not see any outstanding setups(A+) at the moment. A few areas of interest to watch but waiting patiently until the technicals justify an entry.........just wondering if anyone else is seeing any good setups just now?

Kal

The BEOB on daily AUD/USD looks good to me, any other opinions?
Without a trade plan, say bye bye to your account & hello to frustration.
  • #85,978
  • Jan 16, 2011 3:01pm Jan 16, 2011 3:01pm
Quoting PipinStein
The BEOB on daily AUD/USD looks good to me, any other opinions?
pip,dont know if my data is different to yours but I havn't got a BEOB.T
  • #85,979
  • Jan 16, 2011 4:45pm Jan 16, 2011 4:45pm
Quoting aserbfx
i mainly stick to us-stocks: more liquid, more power, cheaper, more fun.
more power?

Quoting aserbfx
and -very important- less automated computer systems then in the european market.
I think you have that one backwards.

Quoting Ifmyante
This thread is vital to your future success. If you don't know about support and resistance, pivot zones, and PA, you will not succeed
Hm.

Quoting Dan Gilbert
In the last 10-20 pages, I have seen some seriously grid-locked charts posted up. I just skip over those posts, because I don't see what is going on with those, at all.
You noticed that too? Draw enough lines on a chart and eventually price will bounce off one of them

In between weekly/daily/H4 PPZs, fibs drawn all over the shop, (v)BRNs and a couple of MAs...
When you have to shoot, shoot. Dont talk.
  • #85,980
  • Jan 16, 2011 4:54pm Jan 16, 2011 4:54pm
Quoting Adilius07
Can you name just one please?

It is true, I believe there are other good systems around.

Phil Nel has a good system.

http://www.forexfactory.com/showthread.php?t=14630


Note that Seeking Light was in this thread from very early on, I also seem to remember a post from the Big Guy in that thread, Jarroo also.
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