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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

  • #87,741
  • Edited 8:39pm Feb 2, 2011 7:48pm | Edited 8:39pm
EUR/AUD

Monthly DBLHC with 2.5 pips difference so it may be a BUEOB.

EDIT: Actually the Monthly bar is 2.5 pips above the low of the previous bar so, this is DBLHC as it is within 3 pips difference in the lows.


Interesting area that price is currently testing.

wonder if Jarroo has got his eye on it?
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  • #87,742
  • Feb 2, 2011 7:57pm Feb 2, 2011 7:57pm
Just reviewing today...one I missed...or maybe this was already posted, but I can't recall.

Would you have played this one?
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  • #87,743
  • Feb 2, 2011 8:09pm Feb 2, 2011 8:09pm
Check out this PPz on the EUR/CAD weekly, isn't it amazing.

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Then if we zoom it in look what we get, a PB. It's hasn't closed yet so anything can happen.

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From my understanding we will have a retrace off the weekly and then..... check out the monthly. We have a bullish PB. Will this have enough momentum to break the downward TL after the retrace i just discussed????

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Very interesting days ahead.
  • #87,744
  • Feb 2, 2011 8:22pm Feb 2, 2011 8:22pm
Quoting vasmiza
Check out this PPz on the EUR/CAD weekly, isn't it amazing.

Attachment

Then if we zoom it in look what we get, a PB. It's hasn't closed yet so anything can happen.

Attachment

From my understanding we will have a retrace off the weekly and then..... check out the monthly. We have a bullish PB. Will this have enough momentum to break the downward TL after the retrace i just discussed????

Attachment

Very interesting days ahead.
Throw a Fib on it and looks like we may have had some confluence.
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  • #87,745
  • Feb 2, 2011 8:43pm Feb 2, 2011 8:43pm
Ive done some more homework, let me know what you think about the bars+location.
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  • #87,746
  • Feb 2, 2011 8:49pm Feb 2, 2011 8:49pm
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.
How's this trade going Pinbar?
  • #87,747
  • Feb 2, 2011 9:41pm Feb 2, 2011 9:41pm
Quoting jarroo
Mine is not updating either (FxPro) .. .
hey guys,
it's already February.
so u should open a new chart (NGH1)
  • #87,748
  • Feb 2, 2011 10:30pm Feb 2, 2011 10:30pm
Quoting edge540
How's this trade going Pinbar?

Not too good.

It was only a demo as, it wasn't A+ setup by any means.

The 50 fibo is the last line of defense here.
Just experimenting with it and I gave it more room to move.

Just shows. Mike knows his stuff and his traffic.
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  • #87,749
  • Feb 2, 2011 10:37pm Feb 2, 2011 10:37pm
Quoting supremeChaos
hey guys,
it's already February.
so u should open a new chart (NGH1)

Hey SC, I saw your avatar and thought someone had pilfered your user name. LoL
  • #87,750
  • Feb 2, 2011 10:38pm Feb 2, 2011 10:38pm
Quoting Pinbar
Hey SC, I saw your avatar and thought someone had pilfered your user name. LoL
lol I thought it was a new person on the block

I like the new one better. It's more soothing(but then again look at mine )
  • #87,751
  • Feb 2, 2011 10:40pm Feb 2, 2011 10:40pm
Quoting mbqb11
lol I thought it was a new person on the block

I like the new one better. It's more soothing(but then again look at mine )

Yeah, I get the feeling I should be shot with it for taking that PB. LoL
  • #87,752
  • Feb 2, 2011 10:42pm Feb 2, 2011 10:42pm
Quoting Pinbar
Yeah, I get the feeling I should be shot with it for taking that PB. LoL
Did your order trigger. Looks like even a 10 pt buffer keeps ya out of that one.


Mike
  • #87,753
  • Feb 2, 2011 10:45pm Feb 2, 2011 10:45pm
Quoting mbqb11
Did your order trigger. Looks like even a 10 pt buffer keeps ya out of that one.


Mike

Yeah, I jumped the gun with a 2.5 pip buffer, which is not even the spread.

This will teach me a lesson.

Still, I am in it and have to manage it till it is obviously not worth holding any more even on demo.
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  • #87,754
  • Feb 2, 2011 10:46pm Feb 2, 2011 10:46pm
Quoting Pinbar
Hey SC, I saw your avatar and thought someone had pilfered your user name. LoL

Quoting mbqb11
lol I thought it was a new person on the block
I like the new one better. It's more soothing(but then again look at mine )

trying to deny age by using more youth-related avatars
  • #87,755
  • Feb 2, 2011 10:47pm Feb 2, 2011 10:47pm
Quoting supremeChaos



trying to deny age by using more youth-related avatars
Deny age? I thought you were only about 26

Hey, is it your birthday SC?
  • #87,756
  • Feb 2, 2011 10:48pm Feb 2, 2011 10:48pm
Quoting Pinbar
Yeah, I jumped the gun with a 2.5 pip buffer, which is not even the spread.

This will teach me a lesson.

Still, I am in it and have to manage it till it is obviously not worth holding any more even on demo.
I see, well lessons are good that's how I learned, and continue to learn and shape my trading.

That's another issue for me and why I will pass on trades when I don't see ways to reduce my stop at certain points. This one being a smaller bar in traffic, it's almost like if it doesn't break hard you have to quickly cut out b/c there are no logical stop places except under the BRN/Pin. Makes it tricky. But when I approach it from ok what is a logical entry and then what are logical mgmt to this particular trade. Keeps me thinking and on my toes from start to finish(even if it doesn't pan out exactly how we want).

Best
Mike
  • #87,757
  • Edited 11:05pm Feb 2, 2011 10:50pm | Edited 11:05pm
Quoting mbqb11
I see, well lessons are good that's how I learned, and continue to learn and shape my trading.

That's another issue for me and why I will pass on trades when I don't see ways to reduce my stop at certain points....

I hear you Mike...Thanks


EDIT: Mike

This is all hypothetical now as the PB only broke by 3 pips but, does this blue rectangle area not look like a logical place for the SL. just below the eye of the previous candle?
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  • #87,758
  • Feb 2, 2011 11:01pm Feb 2, 2011 11:01pm
Quoting Pinbar
Yeah, I jumped the gun with a 2.5 pip buffer, which is not even the spread.
This will teach me a lesson....
yeah, timing (entry, exit, etc) is very crucial.
i often get burned too.

i think there's possibility of 0.82 - 0.83
if it's any consolation.. if 0.8500 area holds, then we might revisit 0.8700area & above.

Quoting Pinbar
Deny age? I thought you were only about 26
Hey, is it your birthday SC?
26... 2 years ago.
b-day? no, still a few months away.

to be honest, i look like im just 15-25y.o. (based on the chicks,, i mean the people i meet)
  • #87,759
  • Feb 2, 2011 11:07pm Feb 2, 2011 11:07pm
Quoting supremeChaos
yeah, timing (entry, exit, etc) is very crucial.
i often get burned too.

i think there's possibility of 0.82 - 0.83
if it's any consolation.. if 0.8500 area holds, then we might revisit 0.8700area & above.


26... 2 years ago.
b-day? no, still a few months away.

to be honest, i look like im just 15-25y.o. (based on the chicks,, i mean the people i meet)


Yes, as they say we are only as old as the women we meet.
That is why I have a wife that is 15 years younger than me.

Funny, when I was 18, they were all 15 years older, our taste changes.
  • #87,760
  • Feb 2, 2011 11:24pm Feb 2, 2011 11:24pm
Quoting Pinbar
I hear you Mike...Thanks


EDIT: Mike

This is all hypothetical now as the PB only broke by 3 pips but, does this blue rectangle area not look like a logical place for the SL. just below the eye of the previous candle?
Yes I am glad you pointed that out. I meant to say about that. It is basically the bottom of the pin as is. So it really almost doesn't make sense since the BRN and bottom of the pin is so near. That is the issue I have with these smaller bars and watching people take full bar losses on them. So you get sort of handcuffed on a bar /situation like this b/c of that

Best
Mike
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