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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

  • #86,621
  • Jan 21, 2011 6:16am Jan 21, 2011 6:16am
apologies if it causes any offence language wise not meant to

cheers V
  • #86,622
  • Jan 21, 2011 6:41am Jan 21, 2011 6:41am
Hey jey

I think we would all like to be seniors.......but they have earned their place at the top table! Rest of us have to do likewise to get there!! Good luck man!

kal
  • #86,623
  • Edited 7:27am Jan 21, 2011 6:51am | Edited 7:27am
Quoting Adilius07
Yes Pinbar, exactly, you have to see things from a bird's eye view.
If you zoom out you see "the story" not just PA.
That bullish box you have is nothing compared to the overall direction/momentum.

Of course it is very easy to see things after the fact and find a reason. But I don't think it will help in the long run. Things have to be objective.

That's why I am trying to find an objective way to "see size" because the way I do for now(and how you show) is really subjective... well you cannot see the BEARISHNESS of this pair on this chart?...

Of course I see the bearish downtrend but that does not mean that every bearish setup is going to work out. I think that kind of thinking is also dangerous.


That PB found support somewhere, did it not? So, is it not logical to look for that area and find it in the consolidation area I marked off. If you can suggest another theory as to why it found support there, I am open to it.


EDIT; If we look at this area on the daily as Jarroo is teaching us, it explains it all.
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  • #86,624
  • Jan 21, 2011 7:32am Jan 21, 2011 7:32am
Is it just me or are images not displaying on the board right now?

Anyone see the chart I posted in the post above this one, or is it just blank?
  • #86,625
  • Edited 7:39am Jan 21, 2011 7:37am | Edited 7:39am
Quoting Pinbar
Is it just me or are images not displaying on the board right now?

Anyone see the chart I posted in the post above this one, or is it just blank?
My images are down too. I hope Forex Factory isn't as unstable as my Oanda Java platform!?
  • #86,626
  • Jan 21, 2011 7:43am Jan 21, 2011 7:43am
Quoting 5.25
My images are down too. I hope Forex Factory isn't as unstable as my Oanda Java platform!?
Right thanks
  • #86,627
  • Jan 21, 2011 7:48am Jan 21, 2011 7:48am
Quoting jarroo
You saw my post . .didn't you fxgroup . .just kidding . .

No surprise where it closed above fxp . .
Jarroo,

I noticed on your second chart you placed a PPZ around the 1.6000 BRN. If and when price gets there do you adjust that level to try to find a more accurate area? In this example I would say it was pretty much right on but I'm sure thats not always the case. Or is it just best to leave them be?
  • #86,628
  • Jan 21, 2011 7:50am Jan 21, 2011 7:50am
Quoting Pinbar
Is it just me or are images not displaying on the board right now?

Anyone see the chart I posted in the post above this one, or is it just blank?
Hi PB, I can see them ok
G
  • #86,629
  • Jan 21, 2011 7:54am Jan 21, 2011 7:54am
Quoting grahamec
Hi PB, I can see them ok
G

Thanks.Yes, it has happened before and it seems people in Asia are not able to view images when it happens. Must be something to do with the link out to Asia.
  • #86,630
  • Jan 21, 2011 8:01am Jan 21, 2011 8:01am
USD/CAD Daily

Is this a 'classic pin bar setup' I have heard so much about?

It rejected the 1.00 mark but failed to close below the previous candle. Any thoughts?

*Hopefully the chart is visible*
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  • #86,631
  • Jan 21, 2011 8:04am Jan 21, 2011 8:04am
Quoting Pinbar
Thanks.Yes, it has happened before and it seems people in Asia are not able to view images when it happens. Must be something to do with the link out to Asia.
That would explain it. I'm in Australia, just not Australian.
  • #86,632
  • Jan 21, 2011 8:07am Jan 21, 2011 8:07am
Quoting 5.25
USD/CAD Daily

Is this a 'classic pin bar setup' I have heard so much about?

It rejected the 1.00 mark but failed to close below the previous candle. Any thoughts?

*Hopefully the chart is visible*
yes, and it is making money now.
stop at be + 2
meine augen sind die sterne
  • #86,633
  • Jan 21, 2011 8:12am Jan 21, 2011 8:12am
Another ct+div short on AUD/USD. Risk 7, gain 10. Another +1.% in the bank today. Thank you Ryanmcd. Now I have plently of trades until my swing setups mature
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  • #86,634
  • Jan 21, 2011 8:23am Jan 21, 2011 8:23am
Quoting 5.25
USD/CAD Daily

Is this a 'classic pin bar setup' I have heard so much about?

It rejected the 1.00 mark but failed to close below the previous candle. Any thoughts?

*Hopefully the chart is visible*
Hey 5, what's up.

Since it failed to close below the previous high, it is not a valid pin bar. The location is nice however, as you noted.

-- Danny
  • #86,635
  • Jan 21, 2011 8:37am Jan 21, 2011 8:37am
Quoting Kalbar
Hi guys

took this one as it seemed like a decent pin with overall trend off BRN with good 'space' to FTA.

Any valid reasons for NOT taking it or was it merely a good setup that has failed?

Kal
Hey Kal

Here were my thoughts on this one

http://www.forexfactory.com/showthre...57#post4331157
  • #86,636
  • Jan 21, 2011 8:40am Jan 21, 2011 8:40am
Quoting AvanishDemo
Thanks Jarroo...

And hey this BEOB at Swing High looks good which also looks like a DBHLC...got rejected at 1.54...
looks Strong...

any1 gng for dis?

Hey Avanish

Notice that isn't really a swing high but a very very sideways market. This means the market is consolidating down and can be very choppy. If that high of the bar was the highest point in that whole range it would tell us a much better story

Markets spend more time consolidating and choppin around so we have to be careful for those times if we want to trade in them

Best
Mike
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  • #86,637
  • Jan 21, 2011 8:49am Jan 21, 2011 8:49am
Quoting aserbfx
yes, and it is making money now.
stop at be + 2
aserbfx i'm at BE aswell, you reckon we will break 0.9900??? My TP is at 0.9860.

it depends on momentum coming into RN
  • #86,638
  • Jan 21, 2011 8:53am Jan 21, 2011 8:53am
Quoting Pinbar
Of course I see the bearish downtrend but that does not mean that every bearish setup is going to work out. I think that kind of thinking is also dangerous.


That PB found support somewhere, did it not? So, is it not logical to look for that area and find it in the consolidation area I marked off. If you can suggest another theory as to why it found support there, I am open to it.


EDIT; If we look at this area on the daily as Jarroo is teaching us, it explains it all.
Pinbar, no offence, but it did not find support there. The bar has closed (because the day was over) and then you put the line below the low of that bar, and of course that line will correlate to some of the previous highs or lows from history. If you donwload 20 years of data and have 100 lines RANDOMLY, all them will show you support and resistance in some point(s) in past.

I just don't even want to follow that path as it is against the common sense as I see it.

Quoting Pinbar
EDIT; If we look at this area on the daily as Jarroo is teaching us, it explains it all.
If you look closer, right after I posted that chart Jarroo liked that setup also in general (he warned of the RN at 1.28 which price has not reached and reversed before it. So I believe it is just a setup that failed, maybe due to the size, maybe just because setups fail.
  • #86,639
  • Jan 21, 2011 10:53am Jan 21, 2011 10:53am
hi guys,

i see this pin bar structure on GBP.CAD

Its got divergence
fib - ppz confluence
also its off 150 ema

plus its with the long term downtrend - anything wrong with it apart from may be looks-wise?
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Trading is a test match not a Twenty20.
  • #86,640
  • Jan 21, 2011 11:05am Jan 21, 2011 11:05am
Quoting decentchap
hi guys,

i see this pin bar structure on GBP.CAD

Its got divergence
fib - ppz confluence
also its off 150 ema

plus its with the long term downtrend - anything wrong with it apart from may be looks-wise?
Hi DC
For me the tail could be longer and the body shorter to make it nice looking.
G
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