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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

  • #86,641
  • Jan 21, 2011 11:09am Jan 21, 2011 11:09am
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,and there is a PPZ at around 1.5811 which is near a RN. My newbie opinion only.
G
  • #86,642
  • Jan 21, 2011 11:12am Jan 21, 2011 11:12am
Quoting grahamec
Hi DC
For me the tail could be longer and the body shorter to make it nice looking,and there is a PPZ at around 1.5811 which is near a RN. My newbie opinion only.
G
Pass for me too

In my eyes grahamec nailed it
  • #86,643
  • Edited 11:26am Jan 21, 2011 11:14am | Edited 11:26am
Quoting john225
Pass for me too

In my eyes grahamec nailed it
thanks guys,

looks are certainly dodgy - but i have opted for a short on my demo - lets see how this one pans out. Since I am entering it now, the order is still pending. i would move the stop to b/w when the price hits 1.5810
Trading is a test match not a Twenty20.
  • #86,644
  • Jan 21, 2011 11:47am Jan 21, 2011 11:47am
Quoting decentchap
thanks guys,

looks are certainly dodgy - but i have opted for a short on my demo - lets see how this one pans out. Since I am entering it now, the order is still pending. i would move the stop to b/w when the price hits 1.5810
Hi DC, where are you planning to enter the trade ?
  • #86,645
  • Jan 21, 2011 11:49am Jan 21, 2011 11:49am
Quoting grahamec
Hi DC, where are you planning to enter the trade ?
1.5843 - stop loss is opposite of pin.
Trading is a test match not a Twenty20.
  • #86,646
  • Jan 21, 2011 11:56am Jan 21, 2011 11:56am
Quoting decentchap
1.5843 - stop loss is opposite of pin.
Ok thanks, may be a bit slow being Friday.
  • #86,647
  • Jan 21, 2011 12:46pm Jan 21, 2011 12:46pm
Quoting grahamec
Ok thanks, may be a bit slow being Friday.
yes, all the liquidity transfers to the pubs - so markets are dry and dull.....
Trading is a test match not a Twenty20.
  • #86,648
  • Jan 21, 2011 2:15pm Jan 21, 2011 2:15pm
heres one for Jarroo.
a daily IB sat on the broken resistance come support. nice location for a continuation setup.Whichever way it went i felt we would get a pretty strong move.Obvious FTA at the 136.00 level.
closed 2/3rd and have left rest open.

jon
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PATIENCE... DISCIPLINE
  • #86,649
  • Edited 2:36pm Jan 21, 2011 2:24pm | Edited 2:36pm
Looking for some feedback if you think I executed this correctly or just demo lucky.

Mike or anyone for that matter that plays this type of trade Breakouts/downs with patterns ----your help is appreciated.

Just trying to get a little practice and make good use of my time while I'm staring at this screen.

On the 1 H TF I was very concerned to see a 2H PB form and would have caused me with real money to possibly close at BE ....but of course being demo gives you an extra set of balls.

correction: signal bar was 2 bars to the right of the one marked which broke through lower trend line
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  • #86,650
  • Jan 21, 2011 2:30pm Jan 21, 2011 2:30pm
Quoting Atc
Looking for some feedback if you think I executed this correctly or just demo lucky.

Mike or anyone for that matter that plays this type of trade Breakouts/downs with patterns ----your help is appreciated.

Just trying to get a little practice and make good use of my time while I'm staring at this screen.

On the 1 H TF I was very concerned to see a 2H PB form and would have caused me with real money to possibly close at BE ....but of course being demo gives you an extra set of balls.
Hey Bill

It worked out nice for you, but I am just a bit concerned with the overall pattern. I think it should be a bit more obvious. This overall pattern is just a bit small for my liking. Like all things for me, the cleaner more obvious the better

Enjoy the weekend bud
Mike
  • #86,651
  • Jan 21, 2011 2:30pm Jan 21, 2011 2:30pm
Quoting g_j_hook@yah
heres one for Jarroo.
a daily IB sat on the broken resistance come support. nice location for a continuation setup.Whichever way it went i felt we would get a pretty strong move.Obvious FTA at the 136.00 level.
closed 2/3rd and have left rest open.

jon
Nice one
  • #86,652
  • Jan 21, 2011 2:31pm Jan 21, 2011 2:31pm
I'll continue working on it ---thx for the feedback


Quoting mbqb11
Hey Bill

It worked out nice for you, but I am just a bit concerned with the overall pattern. I think it should be a bit more obvious. This overall pattern is just a bit small for my liking. Like all things for me, the cleaner more obvious the better

Enjoy the weekend bud
Mike
  • #86,653
  • Jan 21, 2011 2:47pm Jan 21, 2011 2:47pm
Quoting Atc
I'll continue working on it ---thx for the feedback
martin pring has some useful stuff in his book -pring on the price patterns- about these patterns..
Trading is a test match not a Twenty20.
  • #86,654
  • Jan 21, 2011 3:37pm Jan 21, 2011 3:37pm
Quoting jarroo
You saw my post . .didn't you fxgroup . .just kidding . .

No surprise where it closed above fxp . .
fxp... ???...just kidding
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Nothing personal,just business
  • #86,655
  • Jan 21, 2011 3:55pm Jan 21, 2011 3:55pm
If someone would have applyed Mike's 2 bars exit+R/S,now would have 1000 pips.
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Nothing personal,just business
  • #86,656
  • Jan 21, 2011 5:01pm Jan 21, 2011 5:01pm
Quoting Pinbar
Well, IMHO.

I think this whole band area between the 1.3400 & the 1.3600 is a fulcrum area on the higher TF. This seems to be the area that trends are either made or broken and it is our business to discover, using the tools you so diligently taught us, which way price intends to go. It also shows us how a PPZ can be so wide and we want to be on the alert for a breakthrough these areas and PA off the top or bottom.
That's interesting Pb . . I think . .I'm not sure I understand what your saying . .I don't think PPZs are that wide . .but sure . .Ok

Now back to my question . .

So what did you think about PBT&CA, Res to Sup and the 1.3400 ish?

We talked about it for days before it happened. Any thoughts?
Indicators show the past. Price Action "Indicates" the future.
  • #86,657
  • Jan 21, 2011 6:24pm Jan 21, 2011 6:24pm
Quoting fxgroup
fxp... ???...just kidding

lol . .sorry about that fxg . .I must have had a freudian slip with fxprocessor . . not a bad guy to get mixed up with.
Indicators show the past. Price Action "Indicates" the future.
  • #86,658
  • Jan 21, 2011 6:27pm Jan 21, 2011 6:27pm
Quoting decentchap
martin pring has some useful stuff in his book -pring on the price patterns- about these patterns..

Mike's stuff is better.

Here's a book I would like to read . .

The Story of Price : Market Dynamics and Structural Guide to Profitable Trading . . . By Mike (mbqb11)

I would read it even though I know the ending . .
Indicators show the past. Price Action "Indicates" the future.
  • #86,659
  • Edited 6:54pm Jan 21, 2011 6:33pm | Edited 6:54pm
Quoting 5.25
That would explain it. I'm in Australia, just not Australian.
Yeah, I am in Japan but not Japanese.

Reminds me of the old talking heads song, "Once in a lifetime"
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  • #86,660
  • Jan 21, 2011 6:43pm Jan 21, 2011 6:43pm
Quoting jarroo
That's interesting Pb . . I think . .I'm not sure I understand what your saying . .I don't think PPZs are that wide . .but sure . .Ok

Now back to my question . .

So what did you think about PBT&CA, Res to Sup and the 1.3400 ish?

We talked about it for days before it happened. Any thoughts?

Well, that is what I thought about it. LoL

I seem to remember you previously saying a PPZ can be 2-300 pips in width?

If you are asking me what I think about how you went about working out that area. I think it shows us, that we can plan a possible area to look for some serious PA that may help us catch a trend change or very decent runner, days or even weeks in advance.
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