james16 Chart Thread | Page 4306 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #86,101
  • Jan 17, 2011 3:26pm Jan 17, 2011 3:26pm
Quoting nwo-trader
I've been meaning to share this. Bullish weekly outside bar with a pinbar look to it at a swing low on this stock, took it for a almost a 100% ride. I had already purchased the stock before the weekly bar formed, but i was reasonably certain what was going to happen after it formed.


http://imgur.com/VhKE5.png
Update, I am still holding some of this in a TFSA.
It was fun watching the previous resistance become support, I told my friend to watch for support around .35 cents. The bearish pinbar off of .50 cents had me worried though, lol. :-)

http://i.imgur.com/AgMsp.png
Price is beautiful. A repetitive method is a competitive method.
  • #86,102
  • Jan 17, 2011 3:32pm Jan 17, 2011 3:32pm
Quoting Adilius07
Is just I was thinking how realistic it is to have all these criteria I have now and still be able to trade. I have to violate something, and when I do I get a loser. Ok even if I don't violate anything and take 1 or 2 trades per year per pair and if I use tight trade management they could be BE as well.. This definitely not how I want it to be of course, so where is my error hiding?
Adi in all honesty you have to keep working on it and finding the things you feel comfortable with and the things you don't. I pass good trades all the time and also take some that others would question. Why I do what I do is because I have proven it works for me in the long run and I am comfortable doing it. Each journey is not the same but once you learn to use these techniques and practice with them(hey it could take you 6 months or 6 years) it will get easier.

Keep evaluating your trades and finding things that you feel are holding you back and work on that. I feel like you are doing a lot of extrapolating of what you think is going to be(I see this a lot) instead of seeing actually what WILL be.

Best
Mike
  • #86,103
  • Jan 17, 2011 3:40pm Jan 17, 2011 3:40pm
Thanks Mike. Yes of course I understand that I have a lot of work to do in front of me, and it will be much more than six months for sure (hope less than six years though

The thing is I don't really known in which direction or how should I be working... I.e. What to improve? Everything I guess.. Oh well..


Quoting mbqb11
Adi in all honesty you have to keep working on it and finding the things you feel comfortable with and the things you don't....
  • #86,104
  • Jan 17, 2011 4:26pm Jan 17, 2011 4:26pm
Hey guys,

this is my first post. After reading this thread for a while I realized I would learn much better if I share my thoughts. Here we go...

Daily 2 bar pin on EUR/AUD

like:

- off BRN (1.35)
- 38% fib level from last swing
- lots of space to the left
- strong intact down trend
- monthly trend line
- close below 50 EMA and below 1.34

don't like:

- fundies could get in teh way depending on what europeans decide to do about the crisis...
- FTA 1.325 not clearly defined (?)
- strong bullish move before, not sure about relative size

All in all I would enter after a break of the 1.335 and move break even when approaching 1.325.

Comments welcome
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD.jpg Size: 144 KB
  • #86,105
  • Jan 17, 2011 5:14pm Jan 17, 2011 5:14pm
Give me another inside bar this week, inside the previous inside bar, and I will seriously consider a short.

Gold does look pretty bearish.
Attached Image (click to enlarge)
Click to Enlarge Name: gold.gif Size: 15 KB
  • #86,106
  • Jan 17, 2011 5:20pm Jan 17, 2011 5:20pm
Quoting sebby
Hey guys,

this is my first post. After reading this thread for a while I realized I would learn much better if I share my thoughts. Here we go...

Daily 2 bar pin on EUR/AUD

like:

- off BRN (1.35)
- 38% fib level from last swing
- lots of space to the left
- strong intact down trend
- monthly trend line
- close below 50 EMA and below 1.34

don't like:

- fundies could get in teh way depending on what europeans decide to do about the crisis...
- FTA 1.325 not clearly defined (?)
- strong bullish move before, not sure about...
Hey Sebby

Welcome to the thread, I agree one learns more by talking out glad you are

I think your analysis is pretty good, not much I see wrong with it.

My concerns would be the previous high that price could not close under(arrow bar). I would be looking to see how price breaks that low(essentially a break of the 2day bar) then how it reacts if it pullsback too it. I think you FTA is good and we can see the double bottom box area being pretty strong. My only other big difference would be the trendline looks a bit curve fitted on your chart, and I think the area up a little higher with the former support is a stronger overall area. This one would fall into my watch how it breaks category personally.

Again welcome to the thread thanks for sharing
Mike
Attached Image (click to enlarge)
Click to Enlarge Name: a2.gif Size: 26 KB
  • #86,107
  • Jan 17, 2011 5:32pm Jan 17, 2011 5:32pm
Sebby,

Great first post. Just a few things to think about, not to scare you out of a trade as I think you have done a good analysis

We have had a strong run up though the past few bars. In comparison to your 2 day pin they are much larger and stronger. It is at a nice round number but it doesn't exactly line up nicely with the PPZ to the left at 1.37 we may see a test of that first before we move down.

The main thing is that the size would keep me out as well as it being a 2 day pin which i dont personally trade much. ( I have though).

My style is a bit different then yours but just one thing that has helped me if the FTa is 10 pips away and you are going to go breakeven at that area, it probably means you need a bit more space.

I like how you are waiting for a break of the bar to confirm and that this is going with the trend.

Once again these are just things to think about. I am not right or wrong this thing may plummet tomorrow. I am personally just staying out because this doesn't not line up with my comfort level.

Great to see you posting! Hope to see more great charts like this.


Quoting sebby
Hey guys,

this is my first post. After reading this thread for a while I realized I would learn much better if I share my thoughts. Here we go...

Daily 2 bar pin on EUR/AUD

like:

- off BRN (1.35)
- 38% fib level from last swing
- lots of space to the left
- strong intact down trend
- monthly trend line
- close below 50 EMA and below 1.34

don't like:

- fundies could get in teh way depending on what europeans decide to do about the crisis...
- FTA 1.325 not clearly defined (?)
- strong bullish move before, not sure about...
  • #86,108
  • Jan 17, 2011 5:45pm Jan 17, 2011 5:45pm
Thank y'all for the replies.
Quote
we can see the double bottom box area being pretty strong.
Yes, was thinking that as well but my guess is that it should make it to FTA as this might also be seen as a re-test of the double bottom's breakline couldn't it?

Quote
Once again these are just things to think about. I am not right or wrong this thing may plummet tomorrow. I am personally just staying out because this doesn't not line up with my comfort level.
Very much appreciated!
  • #86,109
  • Edited 6:23pm Jan 17, 2011 6:08pm | Edited 6:23pm
Hi Sebby,

First of all welcome to the thread..

Im a newbie but Ill try to help you with my analysis,

1. The rejection area, its ok (green area).. but I would prefer a bounce of the blue area which is in line with the 50% fib, see how price stopped on the first attempt, second one stopped and the third one had a break, thats the area ill be looking for a PA.

2. At least in Fxpro we have a gap.. 95% of the times they close, so that's something we have to be aware of.

3. I wont really initiate a trade based on today's bar as its US bank holiday.

4. We had a big BUOB on the weekly engulfing 5 bars, this down move could be a retest of the engulfed bars.

On the other side..

We´ve got divergence.

If we didnt had the us holiday, closed gap, no beob on the weekly, rejection on the blue area and a close below 1.35, its a setup ill like.

Im not saying this setup wont work, just that Ill prefer higher odds to put my money on the line.

Hope it helps.

Please keep posting and asking questions... we have a great community here and we all help each other.

Os.

Quoting sebby
Hey guys,

this is my first post. After reading this thread for a while I realized I would learn much better if I share my thoughts. Here we go...

Daily 2 bar pin on EUR/AUD

like:

- off BRN (1.35)
- 38% fib level from last swing
- lots of space to the left
- strong intact down trend
- monthly trend line
- close below 50 EMA and below 1.34

don't like:

- fundies could get in teh way depending on what europeans decide to do about the crisis...
- FTA 1.325 not clearly defined (?)
- strong bullish move before, not sure about relative size

All...
Attached Image (click to enlarge)
Click to Enlarge Name: eaudsebby.jpg Size: 109 KB
Trade Smart
  • #86,110
  • Jan 17, 2011 6:10pm Jan 17, 2011 6:10pm
Hi all,

I just wanted to announce myself onto the thread after months of screen time, months of studying but little gain.

A little about myself:

1) I have read the Price Action tutorials (Intro and Advanced) pin bar setups that are available via this thread by James16 and watched all relevant videos by Nial Fuller at LearnToTradeTheMarket.com. (I know that there are certain misunderstandings between the two on other threads but I won't be commenting on these.)

2) I have an account with Oanda due to the ability of micro trading, but have started to use FxPro (Meta Trader 4) for my 4h, 1D and weekly charts given they're generated inline with NY close.

I hope to post more and learn from you fine people. There may be some newbie questions in some but as 'Sebby' posted "I realized I would learn much better if I share my thoughts."

Thanks and good trading.

(And a big thank you to James16 and others involved in providing people like myself with this invaluable information.)
  • #86,111
  • Jan 17, 2011 6:15pm Jan 17, 2011 6:15pm
Happy Birthday Ghous.

It is not the number of years you have lived that matters, it is the knowledge you poses that surpasses those years and the number of years you have left to surpass them even more.

Thanks for sharing with us the knowledge you have gained.
  • #86,112
  • Jan 17, 2011 7:37pm Jan 17, 2011 7:37pm
Quoting 5.25
Hi all,

I just wanted to announce myself onto the thread after months of screen time, months of studying but little gain.

A little about myself:
Welcome 5.25, glad to see other new traders inspire others to post. Hope we can help in some small way

Best
Mike
  • #86,113
  • Edited 7:56pm Jan 17, 2011 7:44pm | Edited 7:56pm
Quoting Adilius07
Hey Jon, thanks! Have you noticed that you pointed exactly the same trades that Kwikwis and one of Mike with same way of thinking on Mike's trade. And to be honest I didn't like those two the most!!! I liked the one that Danny show (second arrow)- the long trade off a double bottom with some space (however i found some ppz on the way too so skipped it)

So I don't know why is it this with me...
Overanalysing maybe or something.
hey Adi, i hadnt actually realized so many people had posted before me, some good posts. If that bar you liked had closed 30 pips or so higher i would have included it also.
it seems to me you have made yourself a "perfect trade list" and imo it has to be said that these setups are few and far between. But this was the point i tried to make before about the A+ set ups being more of a personal thing. They have to be taken in context to the surrounding PA and ones personall preferences. i personally dont think they can be quantified by a list in reality, not to the letter anyway. This is where the "story" we hear about comes in.
Maybe if you restrict your perfect setup scenario relative to its FTA it might give you a little more room??e.g. is it a high probability set up it terms of it reaching the FTA??...just a thought..
in any case 2 good setups a year on..how many pairs?? thats ohhh...how many high probability trades on the 1D TF?? got be loads. Then if you include the weekly TF... then eventually add the 4h TF... you get my point yes.
Being picky is a good thing and imho the best place to start.(most of us start from the other end and that is a harder path) as time goes by you will find more setups that fit your "pickyness"

Heres another i just saw but from a little earlier

jon

EDIT:notice the pin bar that came before the one i marked. also a decent lookin setup with divergence that reached its FTA. But notice the strength of the bearish bar (and down move)that preceded it and the pin bars size relative to it? Also notice it was hanging in the air a little rather than really testing the RN below it? These are the details of the story which can give us the hint as to how strong a setup really is.Not quite the cherry the second one was.
Attached Image (click to enlarge)
Click to Enlarge Name: daily.gif Size: 28 KB
PATIENCE... DISCIPLINE
  • #86,114
  • Jan 17, 2011 8:07pm Jan 17, 2011 8:07pm
[quote=g_j_hook@yah;4321156]/quote]


GJ, I am shocked to see how totally different our charts are.

I know different broker feeds give us versified bars but this is totally different.

Just a large IB on my IBFX chart.

EDIT: My FXDD live feed is the same though.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: d.jpg Size: 218 KB
Click to Enlarge Name: fxdd.jpg Size: 202 KB
  • #86,115
  • Jan 17, 2011 8:17pm Jan 17, 2011 8:17pm
Quoting fxprocessor
Give me another inside bar this week, inside the previous inside bar, and I will seriously consider a short.

Gold does look pretty bearish.
im with you on this one! i was hoping that daily BEOB would lead to the break of the weekly bar without the weekly IB ( breaking it on the frid) i guess the bank hols didnt help us much either. im still holding from the daily bar and i am still comfortable to do so. i personally think if/when we get a break of the 1350.. level we will see some decent momentum to the down side??
maybe we will some dollar strength at last when/if it does.

jon
PATIENCE... DISCIPLINE
  • #86,116
  • Jan 17, 2011 8:22pm Jan 17, 2011 8:22pm
[quote=Pinbar;4321203]
Quoting g_j_hook@yah
/quote]


GJ, I am shocked to see how totally different our charts are.

I know different broker feeds give us versified bars but this is totally different.

Just a large IB on my IBFX chart.

EDIT: My FXDD live feed is the same though.
not so different really Pinbar..still cant believe that name wasnt taken long ago lol.
If you imagine chopping those 3 or 4 bars up a little different we can still see it. I dont tend to use different feeds much(too lazy)but i guess this is a good example of why we should! at least on occasion.

jon
PATIENCE... DISCIPLINE
  • #86,117
  • Jan 17, 2011 9:26pm Jan 17, 2011 9:26pm
Quoting Pinbar
Right, here you go.

Nice Pb . .

#7 is the highest close where Price could not close above and the 1.3450 is the most recent Low where Price broke through and closed below.
Notice on the Daily where Price could not close below (in blue).

Nice PPZ level that is now acting as Resistance. Great area to look for bearish PA.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: euro18.jpg Size: 83 KB
Click to Enlarge Name: euro18dd.jpg Size: 87 KB
Indicators show the past. Price Action "Indicates" the future.
  • #86,118
  • Jan 17, 2011 9:27pm Jan 17, 2011 9:27pm
Quoting Pinbar
Can't make my mind up about EUR/CAD...Any thoughts folks?

Weekly BUEOB, largest bar in the current down trend.
Daily PB but the close is outside the eye of the previous bar.

Hmmmm, perhaps a nice pullback to the 50 area with some definitive bullish PA would work out.

You nailed that target Pb . .
Indicators show the past. Price Action "Indicates" the future.
  • #86,119
  • Jan 17, 2011 9:39pm Jan 17, 2011 9:39pm
Is there an indicator availible that will make Sunday bars another color?
  • #86,120
  • Jan 17, 2011 9:41pm Jan 17, 2011 9:41pm
[quote=sebby;4320805]Hey guys,

this is my first post. After reading this thread for a while I realized I would learn much better if I share my thoughts. Here we go...
Two day Pin bar in this case might work !

1- looking at the weekly bar we need to verify that being a pin bar ( 2 daily)
2-It is not a pin bar untill the low broken!
3- Given the weekly bar finished up near ppz but not quite this 2 daily pin might be a little pulback to the clear minor ppz and go up to next ppz and get rejected ?

4 and other confluences?
5- build up all scenerios and see if you feel comfi about it all ?
6- Make sure , do you see what you wana see? or really what it is ?
7- If it is what it is and break the low of that pin be aware for a sharp turn around meaning adjust your stop loss pretty soon to cover the trade!

Works works! if not wait for the next story !!!!

Hope it helps !
cheers

Vito
Attached Image (click to enlarge)
Click to Enlarge Name: euraudtest1.jpg Size: 83 KB
258 traders viewing now