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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

  • #89,081
  • Edited 5:28am Feb 15, 2011 2:43am | Edited 5:28am
Never usually take trades on M30..but i like the pinbar in yellow...77 pip profit!

1.55RN,61.8 Ret..
MIKE,was this a cherry pinbar for u ?

(Consolidation was scary though before it acted as support Phew!)
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  • #89,082
  • Feb 15, 2011 2:44am Feb 15, 2011 2:44am
Quoting Pinbar
Yeah, it was in the PF.

I will reconstruct the video from notes.
I got it but I think this video will be a great help to other newbies!!!
Because really I have never seen someone showing this simple trailing method before. Never on any website... and I really searched a lot.
  • #89,083
  • Feb 15, 2011 2:47am Feb 15, 2011 2:47am
Quoting AvanishDemo
Never usually take trades on M30..but i like the pinbar...77 pip profit!

1.55RN,61.8 Ret..
MIKE,was this the cherry pinbar for u ?
Nice one

Lots of confluence ....
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  • #89,084
  • Feb 15, 2011 3:23am Feb 15, 2011 3:23am
This is basically what Jim was doing using the 50 to trail the SL but at some stage he changed to the 38.2. Probably as price got away from the entry and broke through some former resistance and Rns.

Inserted Video
  • #89,085
  • Feb 15, 2011 3:32am Feb 15, 2011 3:32am
Quoting Pinbar
This is basically what Jim was doing using the 50 to trail the SL but at some stage he changed to the 38.2. Probably as price got away from the entry and broke through some former resistance and Rns.

http://www.youtube.com/watch?v=0IK79sIJeu0
Really nice way to do it, thanks for the video!
  • #89,086
  • Feb 15, 2011 4:36am Feb 15, 2011 4:36am
Quoting Pinbar
This is basically what Jim was doing using the 50 to trail the SL but at some stage he changed to the 38.2. Probably as price got away from the entry and broke through some former resistance and Rns.

http://www.youtube.com/watch?v=0IK79sIJeu0
i just like to say thank you for your time and effort to put this stuff up.
meine augen sind die sterne
  • #89,087
  • Feb 15, 2011 6:39am Feb 15, 2011 6:39am
Quoting Pinbar
This is basically what Jim was doing using the 50 to trail the SL but at some stage he changed to the 38.2. Probably as price got away from the entry and broke through some former resistance and Rns.

http://www.youtube.com/watch?v=0IK79sIJeu0
Great video PB, thx for this.
Trade Smart
  • #89,088
  • Feb 15, 2011 6:42am Feb 15, 2011 6:42am
NP people...
Glad you guys found it useful.
I have never been a real note taker till I joined the PF but, this shows me the great value of accurate notes, dates & prices.
  • #89,089
  • Feb 15, 2011 6:45am Feb 15, 2011 6:45am
Quoting sapper6fd
So I've been reading through this thread for a days now, and have started to demo with it. In doing so I came across a potential trade that I want to get your opinions on. I've attached the chart and will explain whats making me thing its a worthwhile trade.


Buy at just above the Pin, with a SL just below its low. The pinbar stopped on the 50% fibo line exactly, and has the potential to retrace back up to the 50% fibo / 23.6 fibo confluence.

Have I got this right, and am I even on the right track for the James16 PA thread or am I way...
First of all welcome to the J16 thread, hope to see you post more often.

Answering your E/CAD questions, there is fib confluence and thats good but imho its more important looking at support and resistance.

You see on the image attached, ive marked the 1.3350 area, I would need a close above it.. why ? Well see the pink arrows in which it shows us that this area is a strong ppz "flip zone" so in order to take a long i want price to close above it giving me clear signs that the big boys are going long.

Hope this helps
If you have any other questions, let us know.

Os.
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Trade Smart
  • #89,090
  • Feb 15, 2011 7:15am Feb 15, 2011 7:15am
This was a trade i took yesterday.
BEOB engulfing many bars except for two (marked). Hopefully this setup was correct - the two marked bars made me hesitate before finally decided that so many other bars engulfed must be important enough.

PS: There was also MACD divergence
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  • #89,091
  • Feb 15, 2011 7:28am Feb 15, 2011 7:28am
Quoting Be Cool
This was a trade i took yesterday.
BEOB engulfing many bars except for two (marked). Hopefully this setup was correct - the two marked bars made me hesitate before finally decided that so many other bars engulfed must be important enough.

PS: There was also MACD divergence

Here are the culprits on the daily TF.
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  • #89,092
  • Feb 15, 2011 8:00am Feb 15, 2011 8:00am
the second half of my position here is coming up on the end of it's life cycle... I moved my stop a bit for insurance.

initial stop was at 0.8500, this trade will deliver a 3.6R return if it does in fact get to my final target.
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Many choose unhappiness over uncertainty.
  • #89,093
  • Feb 15, 2011 8:00am Feb 15, 2011 8:00am
Also took these two yesterday:

AUDUSD
PB off daily PPZ and BRN 1.0000, with the trend, at swing low (sort of) and TL confluence. Took profits on first half when first target hit, but didn't move SL on second half to BE. Instead i left it below 1.000, wishing for a further move. Price retraced back and stopped me out -lost profits from the first half. Got to remember to move SL to BE quick on less than A+ setup LOL

EURCAD
PB off weekly PPZ and RN 1.3300, at Swing Low with 50% Fib nearby. Bar size is good with plenty of space. Took full profits at First target due to the Giant Bearish weekly PB.
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  • #89,094
  • Feb 15, 2011 8:07am Feb 15, 2011 8:07am
Quoting Pinbar
Here are the culprits on the daily TF.
Thank you for your input, Sir. My PPZ is actually drawn at 1.3100 but i was aware of the 1.3050 level at FTA. Should have move SL to BE when it reached that level
  • #89,095
  • Feb 15, 2011 8:19am Feb 15, 2011 8:19am
Quoting Be Cool
Thank you for your input, Sir. My PPZ is actually drawn at 1.3100 but i was aware of the 1.3050 level at FTA. Should have move SL to BE when it reached that level

No sir, please. PB is just fine.

Nice, I like the EU/CAd. Good Job
  • #89,096
  • Feb 15, 2011 8:41am Feb 15, 2011 8:41am
Quoting Be Cool
Also took these two yesterday:

AUDUSD
PB off daily PPZ and BRN 1.0000, with the trend, at swing low (sort of)...
Well done. I personally passed on the AUDUSD because the PB was to small against the big bearish bar to the right. But you managed it very good nice
  • #89,097
  • Feb 15, 2011 9:03am Feb 15, 2011 9:03am
Hey Mike/Jarroo,
I take trades on H1/H4 TF on the basis of info. given on Daily chart,
I liked the Pinbar(neither bullish nor bearish close) with protruding n "stand out" tail
good confluence:1.35RN+38.2 Ret+150EMA+SPACE..i do agree there were flips on 1.3485 but more weightage was on the confluence so i continued to carry on even though the next bar to pinbar got closed above 1.3485..

do u agree this was an example of a GOOD SETUP which got FAILED?
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  • #89,098
  • Feb 15, 2011 9:25am Feb 15, 2011 9:25am
Quoting AvanishDemo
Hey Mike/Jarroo,
I take trades on H1/H4 TF on the basis of info. given on Daily chart,
I liked the Pinbar(neither bullish nor bearish close) with protruding n "stand out" tail
good confluence:1.35RN+38.2 Ret+150EMA+SPACE..i do agree there were flips on 1.3485 but more weightage was on the confluence so i continued to carry on even though the next bar to pinbar got closed above 1.3485..

do u agree this was an example of a GOOD SETUP which got FAILED?
Hey Avanish

To me that bar is way to small. I don't really see confluence to this setup. The 1.35 is there but notice there has been literally no reaction ther ein the short term on the one hr. So I just see a small bounce bar here rather then any real strong reason to go lower. As you can then see the previous high caught this one since IMO the bar is so small on an h1 timeframe. Notice we are at a former box on the h1 a much better area to watch and see how price might react.

Size here got you and lack of confluence gotta be extra picky if you are going to venture down to the one hour

Best
Mike
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  • #89,099
  • Feb 15, 2011 9:26am Feb 15, 2011 9:26am
Here is a 4hr BUOB on the Gbp/AUD I was contemplating. It broke really quickly though and I didnt get a chance to put an order in so I didnt chase.

Huge BUOB through the 1.60. Would have liked to see a lower low.

What I liked about this trade though was that it broke and closed above 1.61 which you can see has been a key area for this pair.

Would be a quick play for me to 1.6190 most likely.

What do you guys think about this? DO you think 1.61 will now act as support?

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  • #89,100
  • Feb 15, 2011 9:30am Feb 15, 2011 9:30am
Quoting dmc
Here is a 4hr BUOB on the Gbp/AUD I was contemplating. It broke really quickly though and I didnt get a chance to put an order in so I didnt chase.

Huge BUOB through the 1.60. Would have liked to see a lower low.

What I liked about this trade though was that it broke and closed above 1.61 which you can see has been a key area for this pair.

Would be a quick play for me to 1.6190 most likely.

What do you guys think about this? DO you think 1.61 will now act as support?

Attachment
Yep I am in this one looking for the H&S to possibly play out with this as a pre-emptive breakout and 1.6 holding.

Best
Mike
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