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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

  • #87,601
  • Feb 1, 2011 3:55pm Feb 1, 2011 3:55pm
Quoting DBallerz
looking a fxg previous charts, I found this pin. Is it not valid because it closed outside previous bar and below .96 rn ?
That pin has no space,is too crowded,look how close is the previous bar's low.The green bar is different by space,size and shape,but your pin technically it is a pin bar,witch I use it as information that there are some buyers that consolidate first before acting-notice that none of the bars after, haven't close under your pin bar.
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Nothing personal,just business
  • #87,602
  • Feb 1, 2011 4:31pm Feb 1, 2011 4:31pm
How about these? I apologize for the horrible colors
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  • #87,603
  • Feb 1, 2011 6:39pm Feb 1, 2011 6:39pm
do you guys stay out of the markets during NFP? how is that handled under J16 ?
  • #87,604
  • Feb 1, 2011 7:30pm Feb 1, 2011 7:30pm
Quoting bluetrader
Hi avas what's up. I see your point; very good analysis. I plan to be 50+ pips in profit by that point and stop at breakeven...
Turns out I missed this touch by 1/2 pip! Maybe I'll get a second chance at going long tonight...

-- Danny
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  • #87,605
  • Feb 1, 2011 8:58pm Feb 1, 2011 8:58pm
Quoting spookie94
This one might be ok. Off a PPZ and the 61.8 fib. Pins close is good just wish it was a little bigger compared to the BOUB. Looking for the VBRN for the FTA. Is this one trading into a box though?
sorry wrong chart. here you go.
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  • #87,606
  • Feb 1, 2011 9:49pm Feb 1, 2011 9:49pm
thanks for sharing this 'touch trade' what is your plan for it just to grab a few pips on the bounce?
Quoting bluetrader
Turns out I missed this touch by 1/2 pip! Maybe I'll get a second chance at going long tonight...

-- Danny
  • #87,607
  • Feb 1, 2011 10:14pm Feb 1, 2011 10:14pm
Quoting Patrick.
thanks for sharing this 'touch trade' what is your plan for it just to grab a few pips on the bounce?
Hi Patrick,

My plan is to reduce my risk around .9400 if a bounce occurs. If the trade goes nowhere after a day or two I will reduce my risk. That's my plan.

Big picture: U/CHF is in a long-term down trend, but recently it has been ranging. If it bounces off this area I don't expect a long-term move but .9500 to .9600 is a realistic target.

-- Danny
  • #87,608
  • Feb 1, 2011 10:16pm Feb 1, 2011 10:16pm
Quoting ghous
My comments:

http://www.youtube.com/watch?v=61iMGiZlzfE
g.

(Thnx SC)
love it, generous sharing... Thanks
  • #87,609
  • Feb 1, 2011 10:44pm Feb 1, 2011 10:44pm
Quoting DBallerz
How about these? I apologize for the horrible colors
Hey DB

All could be conisdered pinbars by the strictest definition but my thoughts on each

gbp/chf- very small bar notice it isn't at a swing high but rather in a sideways market. If you review those examples I give you notice James posts ones at swing highs and lows. This one is at a very very minor swing high which means it is in what we call traffic. This means the very FTA could give it trouble. In this case 1.5 BRN is right under us and that means we are also trading right back into a PPZ

eur/gbp - again a pinbar, but in a lot of traffic. THe better the swing point the less traffic. Remember the bar is only a trigger point. Size, structure, location these are all key. Both eur/gbp and gbp/chf are running right into a lot of trouble at their respective locations(due to the lack of swing point). Blue boxes on both are trouble areas and close

gbp/jpy- Notice the nose doesn't protrude out of anything. This is as sideways as you can get with a bar. again we want these at swing highs where the nose sticks out.

Let me know if you want more James16 chart examples. They are the best

Mike
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  • #87,610
  • Edited Feb 2, 2011 1:59am Feb 1, 2011 11:14pm | Edited Feb 2, 2011 1:59am
Quoting spookie94
sorry wrong chart. here you go.
On FxPro,the pinbar got closed above 1.51..im not taking this as it is now acting as a support..u see..bullish bar prior to it broke 1.51 and closed above..also sideways market!

Im newbie so just MHO!!

the zoomed in chart will make it more clear to see..
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  • #87,611
  • Edited 2:14am Feb 2, 2011 2:04am | Edited 2:14am
Took the daily PB on EG.

Let's see if it can hold at the 38.2.

Edit:
I just read that Mike doesn't like the traffic this PB is in.

It is off the BRN with the 50 fibo as confluence and it closed above the heavy daily consolidation area.
Let's see how it plays out.
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  • #87,612
  • Edited 2:24am Feb 2, 2011 2:14am | Edited 2:24am
Quoting Adilius07
My feed shows only that high is 1.3676, but what is it's significance..
Ok I many times see you guys posting exact level, and I still don't understand how you pick that level... with zone is much easier...

Yes you're right Adilius. These are PPZones and its much easier to think of them that way.

But what I like to do, is fine tune them down to the areas between their Closes.

So for example on the Eur/Cad, the Highest Close of the Resistance level of the PPZ level is 1.3660. And the Lowest Close of the Support level of the PPZ is 1.3675.

You can also do this with the Highest High of the Resistance level and the Lowest Low of the Support level. I find that where Price closes as it relates to a given level more important.

Notice the recent bit of consolidation in white and where price couldn't close above until a day or so ago.
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Indicators show the past. Price Action "Indicates" the future.
  • #87,613
  • Feb 2, 2011 2:26am Feb 2, 2011 2:26am
Quoting Pinbar
Took the daily PB on EG.

Let's see if it can hold at the 38.2.

Edit:
I just read that Mike doesn't like the traffic this PB is in.

It is off the BRN with the 50 fibo as confluence and it closed above the heavy daily consolidation area.
Let's see how it plays out.
Looks good PIN, we have some significant confluence at the PB, lets see how it turns out, there seems to be some space aswell.

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  • #87,614
  • Feb 2, 2011 2:49am Feb 2, 2011 2:49am
Can someone tell me what the difference between these closes on the 4 Hour TF are? (chart)

I had a PM question concerning this . .I just want to know what you all think.
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Indicators show the past. Price Action "Indicates" the future.
  • #87,615
  • Feb 2, 2011 3:12am Feb 2, 2011 3:12am
Quoting jarroo
Can someone tell me what the difference between these closes on the 4 Hour TF are? (chart)

I had a PM question concerning this . .I just want to know what you all think.
I'm no expert but is it the momentum coming into the close??? (i.e. the length of the bar)
  • #87,616
  • Feb 2, 2011 3:14am Feb 2, 2011 3:14am
Quoting Pinbar
You mean, a strong close as opposed to a just hanging on in there close?

I guess it kind of a trick question . now that I think about it. . .there is one main answer.

What makes one close stronger than the other(s) on the 4 hour TF?
Indicators show the past. Price Action "Indicates" the future.
  • #87,617
  • Feb 2, 2011 3:15am Feb 2, 2011 3:15am
Quoting vasmiza
I'm no expert but is it the momentum coming into the close??? (i.e. the length of the bar)

No, that's not it . .
Indicators show the past. Price Action "Indicates" the future.
  • #87,618
  • Feb 2, 2011 3:24am Feb 2, 2011 3:24am
Quoting jarroo
Can someone tell me what the difference between these closes on the 4 Hour TF are? (chart)

I had a PM question concerning this . .I just want to know what you all think.
The bar on the right is above the 1.06300 and the other two, below it.

I trashed that post as I realized. that was probably not what you were asking.
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  • #87,619
  • Feb 2, 2011 3:29am Feb 2, 2011 3:29am
Quoting Pinbar
The bar on the right is above the 1.06300 and the other two, below it.

I trashed that post as I realized. that was probably not what you were asking.
No . . it has more to do with the 1.6 . . .your going to laugh when I tell you the answer.

Any others out there got a answer?
Indicators show the past. Price Action "Indicates" the future.
  • #87,620
  • Feb 2, 2011 3:37am Feb 2, 2011 3:37am
Quoting mbqb11
Hey DB

All could be conisdered pinbars by the strictest definition but my thoughts on each

gbp/chf- very small bar notice it isn't at a swing high but rather in a sideways market. If you review those examples I give you notice James posts ones at swing highs and lows. This one is at a very very minor swing high which means it is in what we call traffic. This means the very FTA could give it trouble. In this case 1.5 BRN is right under us and that means we are also trading right back into a PPZ

eur/gbp - again a pinbar, but in a lot of traffic....
Good post on these bars Mike - did not fancy any of them to be high prob etups although they may still work! There are so many reasons to stay out of trades that sometimes it is a struggle to get INTO a trade!

Kal
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