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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

  • #86,021
  • Edited 2:11am Jan 17, 2011 2:01am | Edited 2:11am
Quoting HanSolo
This reminds me of a system I once created: I drew every possible trendline from way back to 1900 until my chart looked like a spiderweb (that's what I called my new "system"). I was amazed how price reacted at all those lines. Seemed like I found the holy grail. I stopped using it as soon as I realized that every trade went right into support or resistance. LOL!

I wish all you guys and gals a great trading week
Hans

Reminds me of the birdcage I used to draw. In fact, that could be the post referring to it. LoL

EDIT: Not it wasn't but a long time ago, someone told me the same thing.

I see you also have FOND memories of the birdcage HS. LoL
  • #86,022
  • Edited 2:27am Jan 17, 2011 2:04am | Edited 2:27am
Quoting jarroo
Yes . . sorry.


gotto go myself.


Right, here you go.
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  • #86,023
  • Jan 17, 2011 2:26am Jan 17, 2011 2:26am
well very good question ! Why you wana be a trader !

PLEASE WATCH !


We all need to be aware the issues of while we do trading and nothing will beat to have right reasons to do anything you wana do in life...

Enjoyyy!!!


And Nothing wrong with trading , except maybe some wrongs be attached if not aware... Cheer Vito,,

Here is the Link of the video ...

Tell me why you want to become a trader. )))
  • #86,024
  • Jan 17, 2011 2:29am Jan 17, 2011 2:29am
Quoting Pinbar
Reminds me of the birdcage I used to draw. In fact, that could be the post referring to it. LoL

EDIT: Not it wasn't but a long time ago, someone told me the same thing.

I see you also have FOND memories of the birdcage HS. LoL
To be honest, my 'spiderweb confusion' wasn't too long ago. And I'm still prone to making things more complicated than they need to be. Whenever this happens I watch one of the J16 videos or practice simple PPZ spotting. They make a great antidote!
Thanks J16, Sam Seiden, Udine and Jacko
  • #86,025
  • Jan 17, 2011 2:29am Jan 17, 2011 2:29am
Tell me why you want to become a trader.


Nothing wrong with the question ?

Although there maybe some wrongs attached depending on the answer..Hope all concerned are honest to themselves.Nothing with wanting to be a trader imho but one must be aware of all aspects, particularly shark infested waters)

Enjoyyy! Just go to link above and watch!!!

Cheers
  • #86,026
  • Jan 17, 2011 2:34am Jan 17, 2011 2:34am
Quoting HanSolo
To be honest, my 'spiderweb confusion' wasn't too long ago. And I'm still prone to making things more complicated than they need to be. Whenever this happens I watch one of the J16 videos or practice simple PPZ spotting. They make a great antidote!

Very soothing aren't they....!

Funny, I used to close down my platform when I watched J16 videos after less than 3 mins into the video. I just HAD to open the platform and try out something Jim mentioned. Are you sure, there is no Subliminal Valium in those videos?
  • #86,027
  • Jan 17, 2011 4:13am Jan 17, 2011 4:13am
Hi
Would the pinbar on usdcad be classed as only a continuation pinbar because of location ie: not at a swing high and as such would it be of interest or not ?
Cheers
Grahame
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  • #86,028
  • Jan 17, 2011 5:40am Jan 17, 2011 5:40am
Here is a beauty. Retrace entry at strong daily support confirmed with nice H4 BUOB. Setups like these are worth waiting
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  • #86,029
  • Jan 17, 2011 5:46am Jan 17, 2011 5:46am
Quoting Greenhaze
Here is a beauty. Retrace entry at strong daily support confirmed with nice H4 BUOB. Setups like these are worth waiting

Nice find GH.

You didn't wait for the break then?
  • #86,030
  • Jan 17, 2011 5:55am Jan 17, 2011 5:55am
Quoting grahamec
Hi
Would the pinbar on usdcad be classed as only a continuation pinbar because of location ie: not at a swing high and as such would it be of interest or not ?
Cheers
Grahame
The pb is just off the PPZ @ 1.000. Its some kind of a retrace, but it would be much better if there were less mess and more space on the right. The good thing is that we are in a downtrend so it may work out. But it definitely isnt an A setup. You have to ask yourself, does it step out like the pb i marked on the weekly?

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  • #86,031
  • Jan 17, 2011 5:59am Jan 17, 2011 5:59am
Quoting Greenhaze
Here is a beauty. Retrace entry at strong daily support confirmed with nice H4 BUOB. Setups like these are worth waiting
Nice one Greenhaze.

Its similar to the trade i took on NU. A retrace off a nice PPZ area is always good.

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  • #86,032
  • Jan 17, 2011 6:13am Jan 17, 2011 6:13am
Quoting ppfx
The pb is just off the PPZ @ 1.000. Its some kind of a retrace, but it would be much better if there were less mess and more space on the right. The good thing is that we are in a downtrend so it may work out. But it definitely isnt an A setup. You have to ask yourself, does it step out like the pb i marked on the weekly?

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Thanks for your reply ppfx, no it does not stand out like the nice one you marked up.
I just thought that with the ppz, brn, and trend it might stand a fair chance.
Would you have time to elaborate on your comment about needing more space on the right.
Thanks for your help
Grahame
  • #86,033
  • Jan 17, 2011 6:31am Jan 17, 2011 6:31am
Quoting Pinbar
Nice find GH.

You didn't wait for the break then?
Hi PB

I've entered earlier from H1 PB (poodle pb but location is strong) at the bottom of the h4 buob and then closed whole position at the FTA. After seeing the BUOB i've reentered once again with 2/3 of initial position.
  • #86,034
  • Jan 17, 2011 6:52am Jan 17, 2011 6:52am
Quoting grahamec
Thanks for your reply ppfx, no it does not stand out like the nice one you marked up.
I just thought that with the ppz, brn, and trend it might stand a fair chance.
Would you have time to elaborate on your comment about needing more space on the right.
Thanks for your help
Grahame
Like i said it may work. But imho is not a very good setup.

About space, what i meant is that the pb is in a very 'crowded' area (marked white). If there was more space the pb would stand out. Like the pb on retrace on NU(white box).

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  • #86,035
  • Jan 17, 2011 7:12am Jan 17, 2011 7:12am
Quoting spookie94
Same pair but 4H. Is this valid PA? PB, IPB, IB
hi everyone, just wanna say that this IS NOT a pinbar. i jus wanna say that to save confusion for any newbies here. in candle stick world it is a hanging man which is actually a bearish sign. or an IPB, in shape at least. The "nose" of a pin bar needs to be in the same direction as the trend.
just using your post Spookie as a spring board, nothing personal
As i said we dont want to confuse anybody

jon
PATIENCE... DISCIPLINE
  • #86,036
  • Jan 17, 2011 7:12am Jan 17, 2011 7:12am
Quoting ppfx
Like i said it may work. But imho is not a very good setup.

About space, what i meant is that the pb is in a very 'crowded' area (marked white). If there was more space the pb would stand out. Like the pb on retrace on NU(white box).

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Oki doki I understand, nice depiction on the charts which helps and clarifies.
Thanks a lot ppfx
Rgds
Grahame
  • #86,037
  • Jan 17, 2011 7:30am Jan 17, 2011 7:30am
Hello.

Could you please give me some hints here. I took the pin, I lost. It was nice, had space... No confluence, but James described such pins as nice despite no confluence.

Generally my question is - did I do something wrong or it was just one of those natural losers?
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  • #86,038
  • Jan 17, 2011 7:30am Jan 17, 2011 7:30am
Quoting grahamec
Thanks for your reply ppfx, no it does not stand out like the nice one you marked up.
I just thought that with the ppz, brn, and trend it might stand a fair chance.
Would you have time to elaborate on your comment about needing more space on the right.
Thanks for your help
Grahame
hi Graham, ppfx has made some good comments on this but i just wanna say also that the VBRN doesnt really come into play here in the sense that it wasnt really tested by that bar, on my feed it was a good 20+pips short. Mike recently explained that even 2 pips away is not close enough for him generally speakin, but for me also 20+ pips is way too far away to get any real idea of the order flow at that price
also imho " it might stand a fair chance." = PASS. interesting to watch though
i personally wouldnt call this a continuation setup, more just a choppy price. we had the break of the 1000 ppz and then the PA has been choppy since then. Remember the bar was formed on a friday also...

just my opinions hope this helps

jon
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PATIENCE... DISCIPLINE
  • #86,039
  • Jan 17, 2011 7:37am Jan 17, 2011 7:37am
Quoting Publius
Hello.
Could you please give me some hints here. I took the pin, I lost. It was nice, had space... No confluence, but James described such pins as nice despite no confluence.
hi Publius, the first thing that jumps right out at me is the tiny size of that bar.That was quite a strong move up and to expect such a small bar to be the reversal signal would be misplaced imo. Also notice that it closed ABOVE the RN 1.5200, this is likely to hamper the move as it first has to break this ppz to get any legs. I also have a problem with the bar shape, it had a very weak close which for me is a no no in this kind of situation. when the story is lacking any real substance i personally would like the pin bar to close much lower and as i mentioned have a MUCH taller wick. combine this with the fact you mentioned that it wasnt at a great location and you can see why it didnt work out.

hope this helps

jon
PATIENCE... DISCIPLINE
  • #86,040
  • Jan 17, 2011 7:39am Jan 17, 2011 7:39am
Quoting Greenhaze
Hi PB

I've entered earlier from H1 PB (poodle pb but location is strong) at the bottom of the h4 buob and then closed whole position at the FTA. After seeing the BUOB i've reentered once again with 2/3 of initial position.
I was wondering about that.

Thanks GH
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