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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

  • #91,881
  • Mar 17, 2011 9:09pm Mar 17, 2011 9:09pm
Quoting gladiator123
Hi All,

Can someone help me with this chart. For yesterday AUDUSD there was a pin (Pin 1 in my chart) and another Pin(Pin 2). So my question is will anyone go short based on pin 2 since its a downtrend? If no, is it because the size of the pin 1 is too big compared to Pin2 or is there any other reason. Appreciate your help. thanks.

regards
I don't have your 4h feed, so no chart (sorry). Pin 2 seems very small relative to the other bars in the move down. Being with the trend is a plus for it. But if you took it, you would have to expect possible trouble/reversals at the 0.9800 RN, any of the previous bar lows, and finally the close of Pin2. So basically you would be trading into heaps of potential trouble (Mike calls it no room or space).
Cheers
  • #91,882
  • Mar 17, 2011 9:15pm Mar 17, 2011 9:15pm
Quoting Osman
Woww that was FAST !!! TP hit on EUR/AUD !
Good stuff guys! Always a treat to watch it work out like that.

While Eur/Aud was a good trade I had a glitch for 1.95 on Eur/Nzd. The RN doesn't really translate into a splendid PPZ.

The Eur/Aud like I said was good. The close below 1.43 was the absolute key and I am elated to see you guys were on the lookout for it as the most crucial factor.

g,
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I believe . . .
  • #91,883
  • Mar 17, 2011 9:18pm Mar 17, 2011 9:18pm
Quoting gladiator123
Hi All,

Can someone help me with this chart. For yesterday AUDUSD there was a pin (Pin 1 in my chart) and another Pin(Pin 2). So my question is will anyone go short based on pin 2 since its a downtrend? If no, is it because the size of the pin 1 is too big compared to Pin2 or is there any other reason. Appreciate your help. thanks.

regards
It would come down to the location G,

the first pin bar being a bullish pin bar is at a swing low, exactly where we want it, whilst the other is near a swing low instead of being at a swing high where we normally like to see our bearish pin bars.

1 is hence a better bet than 2. There could be other factors involved but based on just this one factor 2 would be an easy pass.

Remember the picky picky picky mantra

g.
I believe . . .
  • #91,884
  • Mar 17, 2011 9:52pm Mar 17, 2011 9:52pm
The mother of all weekly pinbars ?
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  • #91,885
  • Mar 17, 2011 10:16pm Mar 17, 2011 10:16pm
Quoting ts63
The mother of all weekly pinbars ?
we will have to wait and see how everything closes, things changing fast these days
  • #91,886
  • Mar 17, 2011 10:58pm Mar 17, 2011 10:58pm
Quoting ghous
It would come down to the location G,

the first pin bar being a bullish pin bar is at a swing low, exactly where we want it, whilst the other is near a swing low instead of being at a swing high where we normally like to see our bearish pin bars.

1 is hence a better bet than 2. There could be other factors involved but based on just this one factor 2 would be an easy pass.

Remember the picky picky picky mantra

g.
thanks ghous.... and johoma..... really appreciate your help
  • #91,887
  • Mar 17, 2011 10:59pm Mar 17, 2011 10:59pm
Quoting mbqb11
we will have to wait and see how everything closes, things changing fast these days
Still another day to the weekly close, but I think this is a BUOB....If it closes bullish it engulfs 13 weekly bars...Too bad it's not at a swing low
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  • #91,888
  • Edited Mar 18, 2011 3:00am Mar 17, 2011 11:07pm | Edited Mar 18, 2011 3:00am
Quoting ghous
Good stuff guys! Always a treat to watch it work out like that.

While Eur/Aud was a good trade I had a glitch for 1.95 on Eur/Nzd. The RN doesn't really translate into a splendid PPZ.

The Eur/Aud like I said was good. The close below 1.43 was the absolute key and I am elated to see you guys were on the lookout for it as the most crucial factor.

g,
ok thanks for ur thoughts abt EURNZD,it worked out quite well though..lol..Next time i will be more picky abt this..i went for that IPB bcos i did see some price reaction @ 1.95..yeah no splendid PPZs..also its BRN so i caught that IPB..Jus had my thoughts like this..i was so happy too see perfect IPBs after long time on Daily chart..waited till 3.30am just to get my hand on it ASAP..lol!
now @ BE!
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  • #91,889
  • Mar 17, 2011 11:38pm Mar 17, 2011 11:38pm
Quoting Donkey
Although it was a much choppier consolidation than the cadchf, Gbpaud broke out of pretty well-defined box today as well.
Today closed as IPB that signaled a potential pullback to the previous consolidation....and it looks like price is certainly headed back in that direction with a long time to go. Will be interesting to look back on this one tomorrow and see what happened overnight. 1.6180-1.6200 looks like a great potential support area.
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  • #91,890
  • Mar 17, 2011 11:47pm Mar 17, 2011 11:47pm
Quoting Atc
oops ...just notice 5.25 commented
Does the RN .9800 concern you? Not trying to change your mind. Just trying to get your thoughts as to if it is a factor. If it is not, then why ?
http://www.forexfactory.com/attachme...1&d=1300387221
I was not concerned about that,the setup was to convincing for me,big mistake.
  • #91,891
  • Mar 18, 2011 1:08am Mar 18, 2011 1:08am
Quoting ts63
The mother of all weekly pinbars ?
yes, definately.
but you see that it goes directly into a traffic zone (look left).
additionally trading under this circumstances is not trading imho. it is gambling.
i respect the scalpers, but nothing for me right now.
meine augen sind die sterne
  • #91,892
  • Mar 18, 2011 2:04am Mar 18, 2011 2:04am
Quoting mbqb11
we will have to wait and see how everything closes, things changing fast these days
Let's wait in the bush for PA with our rifle a beer and popcorn
  • #91,893
  • Mar 18, 2011 2:42am Mar 18, 2011 2:42am
Quoting ts63
The mother of all weekly pinbars ?
Hi everyone *gives a respectfull nod to Jim - yknow like bobba fett in the cantina lol)

That weekly GPBJPY pin was going to be my first chart post you beat me to it! lol. Im very excited about that too but im scared of trading on fridays for some reason...not sure why..have I read somewhere thats not a good idea?

I've been reading this thread for a while now and although im a complete noob with no previous trading experience, this week I've amazed myself and actually done ok. The week before was when I opened my account and made a dozen silly losses. down to £992. This week I stuck to Daily at a minimum. ..well what do you know, simply doing as your told and following the rules gets results.(after this week balance is now up to £1043.) hope you guys dont mind me posting a few charts for comments. there will be mistakes highlighted and D minuses written all over them by the time i read em..but thats how you learn isnt it. Even though I think i've done ok maybe its just luck? i'm not sure.

Someone has probably written exacty the same thing before, but as i've only got to page 52 of this thread so far i've a long way to go...especially as several pages in it dawned on me to follow this side of the thread for current advice and tips I can put into context with the market NOW.

So what I've done is I opened a practice account with alpari with £1000 monopoly money. (the same amount i'll have saved up towards the end of the year for a live run!)

My volume is set to 0.05 and I try to set my stop 'sensibly' depending on how big the few bars before the signal it are.( a bit vauge I know) and as soon as I can move it back up to break even.

I dont have anything on my chart but i start on a monthly, and draw a line on the highest high and lowest low, then i do that on the weekly, and then the daily. after that i've jsut looked for the basics only, DBLHC/LC and BUOVB BEOVB...and of course our freind pinbar. when I get one of these near ersistance Ill take it, if its in a viod i pass.

I work full time so only get to trade on monday/tuesday/thursday nights really..but i take a peek at dinnertime at work if i can.

If anything i;ve said screams DANGER. please let me know.

Thanks again everybody (especially to the noobs like me who ask all the questions i feel too stupid to ask or think of great questions i ddint think of)

And sorry this ones lengthy I jsut want to learn...Charts to follow :-)
  • #91,894
  • Edited 3:53am Mar 18, 2011 3:26am | Edited 3:53am
Hey guys too early to say but..do keep a look at AUDNZD weekly IPB.i would like CB 1.3643(with a bearish close),also we hav 1.37RN..

Reason why 1.3643:not much of reactions out there...but i like the way bars got rejected off 1.3643..(Monthly chart)
i would like to hear comments from Ghous.
i will be away for 5days from trading so i thought i should drop in my 2cents.

Good Trading All!!
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  • #91,895
  • Mar 18, 2011 3:28am Mar 18, 2011 3:28am
Quoting ts63
Let's wait in the bush for PA with our rifle a beer and popcorn
like this?
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meine augen sind die sterne
  • #91,896
  • Mar 18, 2011 3:37am Mar 18, 2011 3:37am
touch trade, sold@ 81.70
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  • #91,897
  • Mar 18, 2011 5:23am Mar 18, 2011 5:23am
Quoting AvanishDemo
Hey guys too early to say but..do keep a look at AUDNZD weekly IPB.i would like CB 1.3643(with a bearish close),also we hav 1.37RN..

Reason why 1.3643:not much of reactions out there...but i like the way bars got rejected off 1.3643..(Monthly chart)
i would like to hear comments from Ghous.
i will be away for 5days from trading so i thought i should drop in my 2cents.

Good Trading All!!
Careful bud,

Something as simple as the IPB not being at a swing high can put me off.

I see the 1.37 RN but I still cannot and should not ignore the fact that the IPB isn't at a swing high. Yes it's near one, but near isn't enough, in the case of IPBs specially.

We look for IPBs at favorable locations.

g.
I believe . . .
  • #91,898
  • Mar 18, 2011 5:42am Mar 18, 2011 5:42am
Quoting kayhan7070
touch trade, sold@ 81.70
You Sir have balls fading G7 CBs intervention
  • #91,899
  • Mar 18, 2011 5:52am Mar 18, 2011 5:52am
Quoting 5.25
'2011 International Traders Expo London'. Anyone going to this super fun time extravaganza?

All my trading needs are posted here, unless of course I can get a couple of free balloons and sweeties.
Hey 5

I am registered so may go. You? I like to see what others are up to...most of the information is just rubbish but once in a while you see or hear something useful.


I went to the Alpari conference a few weeks back...interesting but mostly full of people trying to sell! I did like Sunil Mangwani...his trading style is very similar to J16.

Azam
  • #91,900
  • Mar 18, 2011 7:27am Mar 18, 2011 7:27am
http://www.abload.de/img/untitledcfff.png

My first week as a breakout trader. Just one day ended with loss. I guess most credit goes to the tsunami for cool moves and the demo account which gives me fast execution.
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