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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

  • #91,181
  • Mar 9, 2011 12:28am Mar 9, 2011 12:28am
On IBFX, price is currently above the low of this bar so, that is why I can not see the open of this bar acting as resistance.

I must be driving you nuts with this.........
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  • #91,182
  • Mar 9, 2011 12:29am Mar 9, 2011 12:29am
Quoting Pinbar
I think we are talking about two different bars here.

I am talking about the bar with the black arrow.

While I think you are talking about this bar with the red arrow?

In which case, I can not see PBT&CA or B.

Its the same level . . what's 20 pips amoungst friends on the weekly . .
Indicators show the past. Price Action "Indicates" the future.
  • #91,183
  • Mar 9, 2011 12:30am Mar 9, 2011 12:30am
Quoting 4FXsake
aser - one to look at.
i like it. thanks for posting. go on!
p.s. if someone want to trade this, use limit orders (not market orders), as stocks seems illiquide (only 80k daily).
meine augen sind die sterne
  • #91,184
  • Mar 9, 2011 12:35am Mar 9, 2011 12:35am
Quoting jarroo
Its the same level . . what's 20 pips amoungst friends on the weekly . .

SO basically this is just the same as PBT&CA but using the close of the next bar.


Now I have driven you half insane, I will put in the other areas of interest.

Thanks Jarroo
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  • #91,185
  • Mar 9, 2011 12:42am Mar 9, 2011 12:42am
Quoting Pinbar
SO basically this is just the same as PBT&CA but using the close of the next bar.


Now I have driven you half insane, I will put in the other areas of interest.

Thanks Jarroo

That's enough for one night . . I think I'm the one driving you insane. .lol.

Are watching the Aud/Cad . .let's see what happens this week.


Quoting jarroo
chart

Later,


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #91,186
  • Mar 9, 2011 1:57am Mar 9, 2011 1:57am
Thanks for great posts
  • #91,187
  • Mar 9, 2011 2:22am Mar 9, 2011 2:22am
A very interesting and usefull dicussion on gbpaud,but reading Mike's post,when said that all his tries over the years gone to simplicity,made me to see this pair into a easier perspective:small consolidation into the big consolidation.
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Nothing personal,just business
  • #91,188
  • Mar 9, 2011 3:07am Mar 9, 2011 3:07am

I just did this , will appreciate if you look at it . Thanks .

Cheers

V

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  • #91,189
  • Mar 9, 2011 3:12am Mar 9, 2011 3:12am
Quoting jarroo
That's enough for one night . . I think I'm the one driving you insane. .lol.

Are watching the Aud/Cad . .let's see what happens this week.





Later,


Jim

Yes, it is like a H&S pattern.
I think I have previously seen this pattern referred to as the wizards castle or something equally weird like that.

Something like this daily PB would be nice.

Thanks Jim...You need a beer!
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  • #91,190
  • Mar 9, 2011 3:32am Mar 9, 2011 3:32am
Quoting Pinbar
Yes, it is like a H&S pattern.
I think I have previously seen this pattern referred to as the wizards castle or something equally weird like that.

Something like this daily PB would be nice.

Thanks Jim...You need a beer!
Just mine.
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Nothing personal,just business
  • #91,191
  • Mar 9, 2011 3:34am Mar 9, 2011 3:34am
Hey Everyone,
I am pretty new here and I was just wondering what all these abbreviations stand for: PBTCB, CBT, LCS.

Many thanks

neale
  • #91,192
  • Mar 9, 2011 3:43am Mar 9, 2011 3:43am
Quoting neale41
Hey Everyone,
I am pretty new here and I was just wondering what all these abbreviations stand for: PBTCB, CBT, LCS.

Many thanks

neale

If you click on the J16 terminology link in my signature, you will get to see all the terminology and a couple of charts explaining PBT&CB.

And, welcome to the thread Neale.
  • #91,193
  • Mar 9, 2011 3:55am Mar 9, 2011 3:55am
Quoting Pinbar
If you click on the J16 terminology link in my signature, you will get to see all the terminology and a couple of charts explaining PBT&CB.

And, welcome to the thread Neale.
Hey thanks pinbar,

Got it, much appreciated.

neale
  • #91,194
  • Mar 9, 2011 5:03am Mar 9, 2011 5:03am
Quoting neale41
Hey thanks pinbar,

Got it, much appreciated.

neale

No problem, we are all here to help each other, when we can.

If you need anything else just ask, neale.
  • #91,195
  • Mar 9, 2011 5:14am Mar 9, 2011 5:14am
Quoting minos.niu
I got a big loss on this pair cad/jpy. Maybe some one can help me with the rationale?

The only logic of failure that I see could be: the PB was on Friday close, then on Monday it generally is not a good time to trade.
Yeah me too. For me it was A++.
You can really find some logic why it failed, and find a lot of reasons why.
But I would not recommend that, because next time you will not take a setup like that. If you objectively investigate the thread you will see that many people, including long timers take even weaker setups, this one has a lot of confluence to it and just perfect.... Of course this is just my opinion... so in my opinion it just failed. They fail, and often... unfortunately...

http://www.forexfactory.com/attachme...1&d=1299651304
  • #91,196
  • Mar 9, 2011 5:16am Mar 9, 2011 5:16am
Quoting Pinbar
No problem, we are all here to help each other, when we can.

If you need anything else just ask, neale.
lol, i want to see your more painting。
A chart helps those who can read it.
  • #91,197
  • Mar 9, 2011 5:34am Mar 9, 2011 5:34am
Quoting Adilius07
Yeah me too. For me it was A++.
You can really find some logic why it failed, and find a lot of reasons why.
But I would not recommend that, because next time you will not take a setup like that. If you objectively investigate the thread you will see that many people, including long timers take even weaker setups, this one has a lot of confluence to it and just perfect.... Of course this is just my opinion... so in my opinion it just failed. They fail, and often... unfortunately...

http://www.forexfactory.com/attachme...1&d=1299651304...
That one was few (4/5) pips shy from daily support 84.20 so i believe You should cut it BE. The bar shape wasnt that bad but surrounding trafic and strong CAD overall made me skip that trade.
Try to find some info about inter-market correlation ... it is really interesting subject.
  • #91,198
  • Mar 9, 2011 5:34am Mar 9, 2011 5:34am
Quoting minos.niu
I got a big loss on this pair cad/jpy. Maybe some one can help me with the rationale?

The only logic of failure that I see could be: the PB was on Friday close, then on Monday it generally is not a good time to trade.
Hey Minos

I am going to disagree with Adi, as he said it is opinion but here is from my experience

http://www.forexfactory.com/showpost...ostcount=91070

I actually believe there is a lack of confluence in a consolidating market. These markets are VERY tough to trade. So it is crucial for my trading to be able to recognize them and react appropriately

Take care
Mike
  • #91,199
  • Mar 9, 2011 5:52am Mar 9, 2011 5:52am
Quoting mbqb11
Hey Minos
I am going to disagree with Ad...
i am actually long cadjpy, since yesterday.

Adilius, like Sir Greenhaze said, should have cut it at BE or thereabouts. but his trade actually hit its FTA, around 84.20ish.
on Daily chart, price was making higher lows&highs. & that pinbar was relatively small.
we always have to respect price, PA, & trend.

Adilius, u are correct, some here trade 'weak setups' but that requires more pickiness &/or experience.
if a pinbar doesnt break with momentum, specially into a price zone with immediate traffic (which is shown exactly in your chart/trade --u traded into a minor PPZ), that should give u a warning.
  • #91,200
  • Mar 9, 2011 5:59am Mar 9, 2011 5:59am
Quoting supremeChaos
if a pinbar doesnt break with momentum, specially into a price zone with immediate traffic (which is shown exactly in your chart/trade --u traded into a minor PPZ), that should give u a warning...
Hi SC, what would you in this case? If there was a slow and unhealthy break but you missed the opportunity to move to BE, you can't sometimes babysit daily chart will you close the trade for a minor loss? Like with the same trade, when I saw the doji after that PB I thought to close it (but I don't have something like this in my plan, and never tested it, so I just followed my plan).
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