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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

  • #90,581
  • Mar 2, 2011 4:55pm Mar 2, 2011 4:55pm
Quoting Imphilomath
Hi Mike et al,

What happened to daily pin bars on GBP pairs ( GBPUSD and GBPJPY)? It printed beautiful bearish pin bars but then went in opposite direction :-).

How do we manage such situations. Was I wrong in selling them? Appreciate any thoughts.

cheers
This is a PB checklist I found in this thread, dont remember who wrote it

See a good PA Bar
Swing high or low?
Which PPZ does it respect? Is there a stronger one nearby?
What confluence exists? (fib, ema, BRN, RN)
What's the momentum of the preceding bars?
What are the higher TFs telling us?
What kind of space is there to move?
What obstacles does a move face in its own TF? (bar lows, PPZs, BRNs, RNs if they have been respected before, ema's, fibs)
  • #90,582
  • Mar 2, 2011 5:02pm Mar 2, 2011 5:02pm
Quoting Imphilomath
Hi Mike et al,

What happened to daily pin bars on GBP pairs ( GBPUSD and GBPJPY)? It printed beautiful bearish pin bars but then went in opposite direction :-).

How do we manage such situations. Was I wrong in selling them? Appreciate any thoughts.

cheers
Hey IMP

I didn't like these too me they were small and fighting a lot.

I posted a video here

http://www.forexfactory.com/showthre...95#post4439895

These small bars fighting a lot of mess, need to be heavily babysat and b/e ASAP if played. I personally just skip them cause it's too much hassle for me

Best
Mike
  • #90,583
  • Mar 2, 2011 5:19pm Mar 2, 2011 5:19pm
Wery nice video and explanation Mike !

Im happy that i was thinking in wright directin and didnt go short on Gpb ...
  • #90,584
  • Mar 2, 2011 5:22pm Mar 2, 2011 5:22pm
Quoting FxPrelude
Wery nice video and explanation Mike !

Im happy that i was thinking in wright directin and didnt go short on Gpb ...
cool brotha and thx

I like to say every situation still has a logical approach. If it fits with the trader then go for it, at least knowing that information. Can only help in the long run(I think at least )

Best
Mike
  • #90,585
  • Mar 2, 2011 7:12pm Mar 2, 2011 7:12pm
Stopped out on CAD/JPY.

I think that PB hit its FTA.

Still, it was good to get stopped out for BE.
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  • #90,586
  • Mar 2, 2011 7:57pm Mar 2, 2011 7:57pm
Quoting mbqb11
Hey IMP

I didn't like these too me they were small and fighting a lot.

I posted a video here

http://www.forexfactory.com/showthre...95#post4439895

These small bars fighting a lot of mess, need to be heavily babysat and b/e ASAP if played. I personally just skip them cause it's too much hassle for me

Best
Mike
Thanks Mike !! Great video, I found it very useful.
I was prepared to baby sit and move quickly to BE, but it did not give me that chance :-(
In your video there is a bearish pin somewhere between 28Sept and 20Oct. That gave a reasonable retracement though that pin bar was similar to the one you have talked about ( other than the fact that it was a bar closed in Red while the one you have discussed it still green :-) )

I guess key is not even going that way and take unnecessary risk :-). It is okay to miss few as long as I end up +ve at the end. I should remember that.

cheers Mike !!
  • #90,587
  • Mar 2, 2011 9:11pm Mar 2, 2011 9:11pm
There looks to be some nice space forming on the AUD/NZD and the NZD /CHF. I'm waiting with my rifle..... maybe we get some good PA.

Poncho
" I can read the left side of the chart, the right side's a Bitch!
  • #90,588
  • Mar 2, 2011 9:23pm Mar 2, 2011 9:23pm
Quoting mbqb11
Hey Avanish

Since price is in a box and now closing as a BUOB outside the box and above the previous bars high it makes a good situation for a continuation trade. This is the type of stuff I look for. So the situation as a whole is a good one. Now I am a bit pickier then most so I won't trade it back into the 1.4 but you have the concepts better down how I use them

Best
Mike
Mike,

I know you mentioned that this trade is not ideal because if the 1.4 lvl. But assuming that wasnt a factor and there was plenty of upside... would the trendline ive drawn cause any concern... or is the fact that we have a BUOB and are breaking out of the box more significant?

Thanks
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  • #90,589
  • Mar 2, 2011 9:26pm Mar 2, 2011 9:26pm
Quoting mugged
Mike,

I know you mentioned that this trade is not ideal because if the 1.4 lvl. But assuming that wasnt a factor and there was plenty of upside... would the trendline ive drawn cause any concern... or is the fact that we have a BUOB and are breaking out of the box more significant?

Thanks
Hey Mugged

Not for me personally. I don't draw those "odd" trendlines. What I mean by odd is to me it's sort of coming from no where. Mine that I use are just the obvious ones. So for me I see eur/usd as this chart. Not wrong by any means, just not a line that would play concern to me

Hope that helps
Mike
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  • #90,590
  • Mar 2, 2011 11:14pm Mar 2, 2011 11:14pm
none of the big pairs are around VBRN this week...

my account is idle.
Many choose unhappiness over uncertainty.
  • #90,591
  • Mar 2, 2011 11:57pm Mar 2, 2011 11:57pm
Quoting Dan Gilbert
none of the big pairs are around VBRN this week...

my account is idle.
Dan

Are you watching / interested in EURGBP I4B on the Daily at 0.85 BRN?

It's not AT the BRN - but BELOW it. Any thoughts?

0908

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  • #90,592
  • Mar 3, 2011 12:02am Mar 3, 2011 12:02am
Quoting mbqb11
Hey Mugged

Not for me personally. I don't draw those "odd" trendlines. What I mean by odd is to me it's sort of coming from no where. Mine that I use are just the obvious ones. So for me I see eur/usd as this chart. Not wrong by any means, just not a line that would play concern to me

Hope that helps
Mike
thanks Mike!
that helps put things into perspective.
  • #90,593
  • Mar 3, 2011 12:14am Mar 3, 2011 12:14am
one more nice example of boxes.
supply and demand zones near a vbrn.
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meine augen sind die sterne
  • #90,594
  • Mar 3, 2011 1:30am Mar 3, 2011 1:30am
Quoting Greenhaze
BEOB on weekly (not the best one but skews probability on the short side) , very strong resistance weekly/dailly and still no substantial retrace ++ multi matching lows on h1. Thats gonna be interesting
There wasnt any hard break but i managed to get better price and i'm still holding
Price penetrated those lows and went higher again just to give us nice BEOB/DBHLC with triple low . Now lets see if we can get 1.6000 and 1.5950...
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  • #90,595
  • Mar 3, 2011 1:47am Mar 3, 2011 1:47am
EURNZD

subscribed to learn and share
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  • #90,596
  • Mar 3, 2011 1:49am Mar 3, 2011 1:49am
Quoting forex0908
Dan

Are you watching / interested in EURGBP I4B on the Daily at 0.85 BRN?

It's not AT the BRN - but BELOW it. Any thoughts?

0908

Attachment

no, its not really catching my eye. I'm just sitting out now, nothing significant enough to place a bet on now.
Many choose unhappiness over uncertainty.
  • #90,597
  • Mar 3, 2011 2:18am Mar 3, 2011 2:18am
Quoting anthoniex
EURNZD

subscribed to learn and share
welcome!
good to have you "on board".
i am always watching closely the charts you put up on redworlds thread.
meine augen sind die sterne
  • #90,598
  • Mar 3, 2011 2:25am Mar 3, 2011 2:25am
CHFJPY

my current trade. comments appreciated. thanks
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  • #90,599
  • Mar 3, 2011 2:31am Mar 3, 2011 2:31am
Quoting aserbfx
welcome!
good to have you "on board".
i am always watching closely the charts you put up on redworlds thread.
thanks but I'm still a newbie, respect to all seniors.
  • #90,600
  • Mar 3, 2011 4:17am Mar 3, 2011 4:17am
Quoting Greenhaze
There wasnt any hard break but i managed to get better price and i'm still holding
Price penetrated those lows and went higher again just to give us nice BEOB/DBHLC with triple low . Now lets see if we can get 1.6000 and 1.5950...
Nice. Was this a touch trade it after breakout of the 1h lows and retracement?
Cheers,
John
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