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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

  • #87,101
  • Jan 26, 2011 10:10pm Jan 26, 2011 10:10pm
Quoting ghous
They say curiosity killed the cat. In order to investigate a room, you must first enter it. that's what the weak buyers/sellers do when price tests an area beyond a strong PPZ. The weak buying/selling gets hit in the face by the bigger orders and that's where your Pin bar wicks and outside bar wicks come from and what validates them.

Nice post GH.



g.

Nice post Ghous and it shows us newbies, exactly why, we do not jump on bullish PA at a swing high and visa vi.

Like it


Edit: Nice easy to see relaxing color scheme there, you changed your scheme or is this just for the TV? LoL
  • #87,102
  • Jan 26, 2011 10:15pm Jan 26, 2011 10:15pm
Quoting Pinbar
Nice post Ghous and it shows us newbies, exactly why, we do not jump on bullish PA at a swing high and visa vi.

Like it


Edit: Nice easy to see relaxing color scheme there, you changed your scheme or is this just for the TV? LoL
Yeah I changed it. I do a lot of fidgeting with my colors that's for sure. lol

g,
I believe . . .
  • #87,103
  • Jan 26, 2011 10:18pm Jan 26, 2011 10:18pm
Quoting ghous
Yeah I changed it. I do a lot of fidgeting with my colors that's for sure. lol

g,

I can get into that, too much.

I just did. LoL

I think I need a darker rim for the candles.


EDIT: That's better
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  • #87,104
  • Jan 26, 2011 10:20pm Jan 26, 2011 10:20pm
Quoting ghous
We have had some nice I4Bs for daily bars yesterday.

I am specially liking this one on Usd/Sgd. (In Eur/Aud and Eur/Cad as well)

g.
Hey Ghous,

How does one play an inside bar/inside pin bar?

I understand that it is a brief consolidation before the market breaks out again. The question is, in which direction?

A link to a particular thread would do... (I've taken your signature on board ).
  • #87,105
  • Jan 26, 2011 10:22pm Jan 26, 2011 10:22pm
Quoting 5.25
Hey Ghous,

How does one play an inside bar/inside pin bar?

I understand that it is a brief consolidation before the market breaks out again. The question is, in which direction?

A link to a particular thread would do... (I've taken your signature on board ).

With their backs to the wall, or Else!
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  • #87,106
  • Jan 26, 2011 10:31pm Jan 26, 2011 10:31pm
Quoting KissFan
I am keeping an eye on the 1.5950 area for some action.

K.I.S.S.
Noticed a nice possible area off the daily at around 1.5980ish. Cool head and shoulder formation off the weekly too. Had a sell off that BEOB on the daily but canceled it because it didn't break today. Still think it could reach those areas though..
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  • #87,107
  • Jan 26, 2011 10:36pm Jan 26, 2011 10:36pm
Quoting Pinbar
With their backs to the wall, or Else!
!!! Noted.
  • #87,108
  • Jan 26, 2011 10:48pm Jan 26, 2011 10:48pm
Quoting ghous
They say curiosity killed the cat. In order to investigate a room, you must first enter it. that's what the weak buyers/sellers do when price tests an area beyond a strong PPZ. The weak buying/selling gets hit in the face by the bigger orders and that's where your Pin bar wicks and outside bar wicks come from and what validates them.

Nice post GH.



g.

I took that 4hr buob, for some profit
  • #87,109
  • Jan 26, 2011 11:11pm Jan 26, 2011 11:11pm
Quoting mbqb11
I took that 4hr buob, for some profit
I suspected you would have.
I believe . . .
  • #87,110
  • Jan 26, 2011 11:30pm Jan 26, 2011 11:30pm
Quoting 5.25
Hey Ghous,

How does one play an inside bar/inside pin bar?

I understand that it is a brief consolidation before the market breaks out again. The question is, in which direction?

A link to a particular thread would do... (I've taken your signature on board ).
That's where your 'story' jumps in. Although an IB can be played in a way where you keep pending orders on both ends and cancel the one which does not trigger, I for one never feel comfortable in doing that.

For me it just boils down to the the story going on at the time, which helps me develop a bias for direction.

Let's take the very example of USD/SGD I posted the chart of.

We know that a price pivot zone is strong when price bounces off it and stays that way. If it keeps coming back it means either or both of 2 things: 1) The on going trend is way too strong 2) The PPZ is finding it hard to support/resist price. Either ways it conveys meaning and value to us.

Now we have price doing just this at the 1.28 RN. It bounces off at the first touch and then pulls back, bounces again (importantly with lesser intensity) on the second touch and fails (so far) to find any significant support on the 3rd touch.

Notice how price has really tightened up and gives us the feeling that something's gotta give here.

Now take a look at where the IB is. Notice how it closes below the 1.28. Notice where today's bar pulled back to. It all just adds to the 'story'.

Logically speaking where should one expect price to go once it breaks the IB/wedge? The story here tells me I need to go short. For 1) the reasons mentioned above 2) A long is potentially going to see a lot of traffic and the conspicuous yellow highlighted PPZ.

g.
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I believe . . .
  • #87,111
  • Jan 26, 2011 11:35pm Jan 26, 2011 11:35pm
Quoting Pinbar
With their backs to the wall, or Else!
HAHAHAHA.
I believe . . .
  • #87,112
  • Jan 26, 2011 11:39pm Jan 26, 2011 11:39pm
Quoting 5.25
Hey Ghous,

How does one play an inside bar/inside pin bar?

I understand that it is a brief consolidation before the market breaks out again. The question is, in which direction?

A link to a particular thread would do... (I've taken your signature on board ).
Here's a post for IPBs you can refer to.

IPB Introduction

g.
I believe . . .
  • #87,113
  • Jan 27, 2011 12:31am Jan 27, 2011 12:31am
Quoting ghous
That's where your 'story' jumps in. Although an IB can be played in a way where you keep pending orders on both ends and cancel the one which does not trigger, I for one never feel comfortable in doing that.

For me it just boils down to the the story going on at the time, which helps me develop a bias for direction....

g.
Makes sense, sound like a bit of a loose cannon to me!

Think I'll sit back and watch how the drama unfolds.

I see what you mean about the USD/SGD though, looks like it's hit rock bottom... or has it?
  • #87,114
  • Jan 27, 2011 12:31am Jan 27, 2011 12:31am
buob on platinum. retraced at a ppz. strong uptrend.
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meine augen sind die sterne
  • #87,115
  • Jan 27, 2011 12:42am Jan 27, 2011 12:42am
Quoting ghous
Here's a post for IPBs you can refer to.

IPB Introduction

g.
Brilliant!

I can already see what the 'Ghous Special' inside pinbar was all about on the AUD/USD! (FXFighter). I watched it unfold just wasn't sure what the candle stick was saying so I stayed out.

I'm intrigued by the EUR/AUD personally given there are x2 IPB, right above significant resistance and at 61.8 fibs.

OK, back to the study books...

Thanks
  • #87,116
  • Jan 27, 2011 2:35am Jan 27, 2011 2:35am
Hey Ghous,
Is this a good IPb for u?
Got Support at 0.94...
It would be good if u explain me why u like it or dont like it

Thanks!
Good Trading!
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  • #87,117
  • Jan 27, 2011 3:17am Jan 27, 2011 3:17am
Quoting DBallerz
Did you take all the trades with the arrows?
no they wernt trades, i was just trying to show the validity of the PPZ.

jon
PATIENCE... DISCIPLINE
  • #87,118
  • Jan 27, 2011 3:32am Jan 27, 2011 3:32am
Looking for bearish price action to short. Any thoughts on this?
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  • #87,119
  • Jan 27, 2011 3:33am Jan 27, 2011 3:33am
Quoting AvanishDemo
Hey Ghous,
Is this a good IPb for u?
Got Support at 0.94...
It would be good if u explain me why u like it or dont like it

Thanks!
Good Trading!
Navashkar Avinash.

No that would not be a tradable IPB for me. To start off an IPB is a PIN BAR. So before it qualifies any requirements for an IPB it must qualify as a decent pin bar.

Would you have taken this same bar had it been inverted just like a regular pin bar? Compare the size of the BEBs that mark the down move with the IPB. Would 9400 be enough of a reason to push you to go against the down trend based off such a small and hence weak PA setup? Was 9300 or the 9500 a comparatively better location for an IPB?

I can see in hindsight that the trade worked out (price made it to the high of the IPB) but again results of trades don't always determine the validity of the setup.

I am in the GBP/NZD bullish IPB (Some off the table and the rest alreasy at BE). and I am putting it up for comparison:


USD/CHF VS GBP/NZD

1) small bar VS bigger bar

2) bearish close VS bullish close

3) Poor location VS Good (confluence) location

Let me know if you have questions.

g.
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I believe . . .
  • #87,120
  • Jan 27, 2011 4:10am Jan 27, 2011 4:10am
does anyone from here have an live account with FxPro

I'm dealing with some techincal problems, today around 11:00 AM (GMT+2) my platform begin freezing, but before that, strange things had happening, one of my orders was close automaticaly, I was in green pips and my order didn't had any TP order assigned to it.

Right now everything is messed up on my platform and I'm unable to connect to my live account. I've call them and give them some instructions to close some of my orders. And on other positions I hedge them on my other live account on Dukascopy.


anyone encounter the same problems ON LIVE ACCOUNTS?

all the best!
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