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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

  • #86,801
  • Jan 24, 2011 1:13am Jan 24, 2011 1:13am
Quoting Pinbar
Yes, I suspected you see two.

I think your perception is the better of the two and this is confirmed by the profit area. If I think of this as a band, it is not a profit area but a NO MAN'S Land area and may keep me out of trades.

I think we are getting a little closer to what I mean, or at least, I understand the pitfall of thinking of this as a band, which your profit area makes clear.

Thanks Jarroo.

EDIT: I shall now attempt to erase all memory of the band from my head and try to look at it like this.
We'll just keep practising Pb . . .


I like your 1.3925 but I like even better the 1.3650 . .you see how the very lows line up.

Let's see , since Price broke through and closed above the 1.3650, will it now act as Support? . . .

1.3763 does look good on the Daily
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Indicators show the past. Price Action "Indicates" the future.
  • #86,802
  • Jan 24, 2011 1:23am Jan 24, 2011 1:23am
Winding up.....!
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  • #86,803
  • Jan 24, 2011 1:28am Jan 24, 2011 1:28am
Quoting jarroo
We'll just keep practising Pb . . .


I like your 1.3925 but I like even better the 1.3650 . .you see how the very lows line up.

Let's see , since Price broke through and closed above the 1.3650, will it now act as Support? . . .

1.3763 does look good on the Daily

Yes, I see that you put more emphasis on the lows bunched up.



I am seeing how some pairs require us to do it on the monthly and the weekly.

Sure makes the daily areas stand out.


Thanks Jarroo, I will of course keep at it.
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  • #86,804
  • Jan 24, 2011 1:46am Jan 24, 2011 1:46am
Quoting jarroo
We'll just keep practising Pb . . .


I like your 1.3925 but I like even better the 1.3650 . .you see how the very lows line up.

Let's see , since Price broke through and closed above the 1.3650, will it now act as Support? . . .

1.3763 does look good on the Daily
If 1.3650 acts like a support and lets say you get a good PA on the hourly then your immidiate area of trouble will be nex line up near 1.3925 yeah ? I mean on that time frame . And if it breaks that and closes above then we are off to moon maybe ?

Am I getting it right ?

Cheers V
  • #86,805
  • Jan 24, 2011 1:48am Jan 24, 2011 1:48am
Quoting ghous


g.
Woud that be inside pin bar at all on GUSD?

Cheers V
  • #86,806
  • Jan 24, 2011 2:24am Jan 24, 2011 2:24am
Quoting menomoo
Woud that be inside pin bar at all on GUSD?

Cheers V
Inverted Pin bar, yes.

Like Jarroo mentioned the previous bar's high does extend a bit more than we'd like (which gives it a non-swing high look) but I like how the 1.6 contained price action.

This should be interesting to watch.

g.
I believe . . .
  • #86,807
  • Jan 24, 2011 2:30am Jan 24, 2011 2:30am
Quoting ghous
Inverted Pin bar, yes.

Like Jarroo mentioned the previous bar's high does extend a bit more than we'd like (which gives it a non-swing high look) but I like how the 1.6 contained price action.

This should be interesting to watch.

g.
Inverted ... see it inside the previous bar prompt me i think .. So How do we tackle this , wait for the break of the bottom of ipb or wait for todays close and look for an hourly inside bar somewhere nice wich might give us a low risk entry or ?....

thanks ghous in advance

Vito
  • #86,808
  • Jan 24, 2011 3:04am Jan 24, 2011 3:04am
Hi guys

Can anyone recommend a post(s) that explains in very simple terms what an inverted pin bar is? I know they are more advanced setups but just want to have a look at what they are and maybe demo trade a few.

Kal
  • #86,809
  • Jan 24, 2011 3:16am Jan 24, 2011 3:16am
Quoting Kalbar
Hi guys

Can anyone recommend a post(s) that explains in very simple terms what an inverted pin bar is? I know they are more advanced setups but just want to have a look at what they are and maybe demo trade a few.

Kal
start from here http://www.forexfactory.com/showthread.php?t=241275

If you wana research more go up to search window on top left and write what you wana know . The links come up and do the home work from there

Hope it helps .
later

Vito
  • #86,810
  • Jan 24, 2011 3:19am Jan 24, 2011 3:19am
Some years back , maybe 5 now . I watched a documentary in Australia about the Japanese woman taken back by Forex phenomenon and they took it up rather very seriously and quite successfull too.

Is that still the case in Japan ? you think ?

Just a curiousity thats all !
Cheers V
  • #86,811
  • Jan 24, 2011 3:31am Jan 24, 2011 3:31am
Quoting menomoo
start from here http://www.forexfactory.com/showthread.php?t=241275

If you wana research more go up to search window on top left and write what you wana know . The links come up and do the home work from there

Hope it helps .
later

Vito
vito

thanks, will take a look at it

kal
  • #86,812
  • Jan 24, 2011 4:05am Jan 24, 2011 4:05am
Jarroo,

a question for you about two close PPZ's, say 60 to 150 pips apart, on a pair which averages about 250 pips per day.

My mind has been telling me that the area inside is basically a no-trade-zone, unless there is very serious reversal PA, bearish BEEOB or PB off the top and bullish BUEOB or PB off the bottom.

Would you take a trade off these, or wait for price to leave the zone and the top to prove its support and bottom to prove its resistance?

Can there be an A+ trade inside the zone?

I hope I was clear in my question.

Thanks in advance,

Michael
  • #86,813
  • Jan 24, 2011 4:09am Jan 24, 2011 4:09am
Quoting menomoo
Some years back , maybe 5 now . I watched a documentary in Australia about the Japanese woman taken back by Forex phenomenon and they took it up rather very seriously and quite successfull too....
i think they were 'successful' because they just bought currencies other than JPY. but of course, around 2008, u know what happened to these JPY carry trades/currency pairs.
  • #86,814
  • Jan 24, 2011 4:13am Jan 24, 2011 4:13am
Quoting Ifmyante
Jarroo,
a question for you about two close PPZ's, say 60 to 150 pips apart, on a pair which averages about 250 pips per day.
...
i think the answer here would be discretionary.

maybe u can post a specific chart to illustrate your point.

Quote
My mind has been telling me that the area inside is basically a no-trade-zone, ...
remember, PPZs are penetrable walls, depending on the market condition.
  • #86,815
  • Jan 24, 2011 4:29am Jan 24, 2011 4:29am
Quoting jarroo
Well no . . not on the first time back because the daily would not have closed yet . We're basing this 1.3 level to act as Resistance because Price broke through and closed below the 1.3 the last time it was at this level. The yellow area and the close of the day is unknown at this time.

Once we know that the close of the day is below the 1.3, we look for it to act as Resistance.

Looking at the Daily chart after the fact, it looks like the 1.3 did not act as Resistance because Price broke through and closed above the 1.3 at the end of that...

Thanks mate, that clears it.
And Mike thank you very much. I am planning to post more graphs and trades here in the future.

Best
C80
  • #86,816
  • Jan 24, 2011 4:35am Jan 24, 2011 4:35am
Quoting supremeChaos
i think the answer here would be discretionary.

maybe u can post a specific chart to illustrate your point.


remember, PPZs are penetrable walls, depending on the market condition.
Thanks SC
I had been wondering about it for some time, and reading last night's posts from Pinbar spurred me to ask the question.

I'll take a look for an example. It'll be interesting to see how common is strong PA inside a tight zone
  • #86,817
  • Jan 24, 2011 4:43am Jan 24, 2011 4:43am
Quoting menomoo
Inverted ... see it inside the previous bar prompt me i think .. So How do we tackle this , wait for the break of the bottom of ipb or wait for todays close and look for an hourly inside bar somewhere nice wich might give us a low risk entry or ?....

thanks ghous in advance

Vito
There's a reason why its actually called Inverted Pin bar. The idea is that at a swing high you normally want a bearish pin bar, but then because of certain market dynamics (and the story going on at the time) a bullish pin bar at the same location can still have a bearish effect.

So we're basically trading an Inverted Pin bar. that is its a normal pin bar except that its inverted in terms of the location its at. (Refer to the chart)

We enter at the close of the bar, SL goes a few pips above the shorter wick and the take profit is just before the longer wick ends.

Its an advanced PA setup not meant for the newbies (refer to my sig) and if you decide to test them out make sure you do enough of demo. There are lots of things you need to consider to evaluate your IPB setups. Search my (and jarroo's) posts with the key word IPB and read through the posts that come up.

But again if you are still trying to find your way around the basics stay away from them



g.
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I believe . . .
  • #86,818
  • Jan 24, 2011 4:44am Jan 24, 2011 4:44am
Hey guys,

Can one of the experts give me some advice on the GBP/CAD. Is yesterdays bar an IB. There seems to be significant confluence.

I have attached a few other reasons on the chart why I am bearish on this pair.

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Thnks guys.

Harry
  • #86,819
  • Jan 24, 2011 4:48am Jan 24, 2011 4:48am
Quoting vasmiza
Hey guys,

Can one of the experts give me some advice on the GBP/CAD. Is yesterdays bar an IB. There seems to be significant confluence.

I have attached a few other reasons on the chart why I am bearish on this pair.

Attachment

Thnks guys.

Harry
I'm no expert but yesterdays bar is sunday bar (only 2 hours of PA) which by the rules is ignored.
  • #86,820
  • Jan 24, 2011 4:50am Jan 24, 2011 4:50am
Quoting Greenhaze
I'm no expert but yesterdays bar is sunday bar (only 2 hours of PA) which by the rules is ignored.
is it Sundays bar or Fridays?? I am not sure myself. FYI I use FXCM's feed. Can someone clarify this?? Thanks guys
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