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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

  • #94,361
  • Apr 25, 2011 2:52pm Apr 25, 2011 2:52pm
Quoting aserbfx
adsk on weekly. one more nice opportunity for next week. the 45 usd is the next barrier to break. i would consider to go long above.
setup triggered. adsk currently at 45.50 usd. +1% so far.
meine augen sind die sterne
  • #94,362
  • Apr 25, 2011 2:54pm Apr 25, 2011 2:54pm
Quoting aserbfx
acc with a nice breakout. highest weekly close since about 4 years. thursdays close was not very strong. i would wait for a rise over ~34.10 usd for a long entry.
already long in acc since 34.04 usd. now at 34.12 usd.
meine augen sind die sterne
  • #94,363
  • Apr 25, 2011 3:02pm Apr 25, 2011 3:02pm
Quoting V1ruSok
Hi
FTA = first trouble area
RN = Round number

Here is Pinbar's signature, нe did a great job. This will help you.
http://www.forexfactory.com/showpost...ostcount=93498
thanks
  • #94,364
  • Apr 25, 2011 3:04pm Apr 25, 2011 3:04pm
Quoting V1ruSok
I know that the bar has not closed and we have to wait until closing, but if it closes as BEOB below 1.07 on AUDUSD and below 0.80 on NZDUSD it will be good setups?
Hey V

I don't think we will close as beobs anyway the way it is looking now, but even if they did I would be cautious. They would be extremely small bars against extremely strong trends. These bars can and do often work out but they can reverse quick and one most play them with that in mind. If I had to take one(that is if it closed good) it would be the nzd/usd with a strong close under the BRN(big round number) of .8000

Best
Mike
  • #94,365
  • Apr 25, 2011 3:05pm Apr 25, 2011 3:05pm
Quoting LoneRanger
First, I just want to thank the amazing consistent, spot on, clear sighted, sharing, tutoring; using many years of trading experience, from you guys, or girls, quintessential; james, Jarroo, mbqb11, supremeChaos, Bermac, ghous thewizard and others course

One question please,

At a lower time frame,4 hr would a break of USD/CHF AT 8830 be a safe buy target?

Thanking you in advance

LR
Hey LR

Thanks for the nice words we got a cool group of guys/gals hanging around

Do you have a chart? I am not seeing anything

Thanks
Mike
  • #94,366
  • Apr 25, 2011 3:14pm Apr 25, 2011 3:14pm
Dumb question but I feel better if I get this outta my chest. I was wondering if you would consider these pinbars. The second one definitely looks like one but because it is at neither a swing high nor low I assume we don't make much relevance of it?

http://i51.tinypic.com/21ouis9.gif
  • #94,367
  • Apr 25, 2011 3:18pm Apr 25, 2011 3:18pm
Quoting biDc
Dumb question but I feel better if I get this outta my chest. I was wondering if you would consider these pinbars. The second one definitely looks like one but because it is at neither a swing high nor low I assume we don't make much relevance of it?
yes. correct.
that said that you look for bars first and then for the location.
others (like jarroo and myself) for example do the opposite: we look for the location and the for the price action setup.
i don't say that your way is wrong, i just want to show you a second way...
meine augen sind die sterne
  • #94,368
  • Apr 25, 2011 4:00pm Apr 25, 2011 4:00pm
Quoting aserbfx
yes. correct.
that said that you look for bars first and then for the location.
others (like jarroo and myself) for example do the opposite: we look for the location and the for the price action setup.
i don't say that your way is wrong, i just want to show you a second way...
thanks for the reply. I actually am the same. I look for strong S/R and wait for the PA there. I was just wondering if a bar can still be considered PB if the open and close are wide apart. Another question but this one out of curiosity, is there a reason why most people trade the principles shared here in the forex and commodity market as opposed to the equity markets. Is it because the price action sets up more frequently?
  • #94,369
  • Apr 25, 2011 7:16pm Apr 25, 2011 7:16pm
hi new to the thread, i know i'm suppose to stick to daily and weekly charts but i took 4hr pb counter with macd divergence FTA 8845 move to BE any comments?
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  • #94,370
  • Apr 25, 2011 7:33pm Apr 25, 2011 7:33pm
Quoting karnivol
hi new to the thread, i know i'm suppose to stick to daily and weekly charts but i took 4hr pb counter with macd divergence FTA 8845 move to BE any comments?
Hi Karnivol...couple of thoughts.

First, that's not a true PB it is a PB by proxy. The open and close should be above the previous bar low for the bullish PB. Secondly, I see the FTA closer to 8830 - the bar high a couple of bars over, and the bar low about 6 bars over. I don't have a 4 hour bar similar to yours on my feed or I would mark a chart up.

I think this one would have to be managed as the downtrend looks strong to me and trading into a consolidation box.
  • #94,371
  • Apr 25, 2011 7:45pm Apr 25, 2011 7:45pm
Quoting biDc
Another question but this one out of curiosity, is there a reason why most people trade the principles shared here in the forex and commodity market as opposed to the equity markets. Is it because the price action sets up more frequently?
Hey B

I think mostly because this is a forex forum, and generally its cheaper and easier to get involved into FX. Personally I trade mostly FX because I have been doing it for 9+ years now and it's just plain comfortable. But at the end of the day a chart is a chart, and you will find many of us trade more then just FX even if the bulk of the posting is in relation to FX markets

Hope that helps
Mike
  • #94,372
  • Apr 25, 2011 7:46pm Apr 25, 2011 7:46pm
cool thanks D yeah i was looking @ 8830.
  • #94,373
  • Apr 25, 2011 7:50pm Apr 25, 2011 7:50pm
Quoting Donkey
Hi Karnivol...couple of thoughts.

First, that's not a true PB it is a PB by proxy. The open and close should be above the previous bar low for the bullish PB. Secondly, I see the FTA closer to 8830 - the bar high a couple of bars over, and the bar low about 6 bars over. I don't have a 4 hour bar similar to yours on my feed or I would mark a chart up.

I think this one would have to be managed as the downtrend looks strong to me and trading into a consolidation box.
Hi Karnivol...thought I would try to add a chart. I made a mistake I think. It looks to me that the PB by proxy hit it's FTA near 8830...bar low a couple bars over from the PB by proxy. The bar high I mentioned bolded above was not part of the FTA....I see it is the actual hitting of the FTA. I am more conservative than a lot though in identifying FTA keep that in mind

Hope I didn't cause any confusion
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  • #94,374
  • Apr 25, 2011 7:57pm Apr 25, 2011 7:57pm
no all good D no confusion thanks mate
  • #94,375
  • Apr 25, 2011 8:54pm Apr 25, 2011 8:54pm
Quoting V1ruSok
Hi Ghous, im watching this one too.
If i'm right, we wait for close above 9550, then this will be BUOB.
FTA is 9590-9600.
We have to be ready and able to take a breakeven if price turns against us, like James said.
Hey there,

I was actually talking about the bullish pin bar. I took a trade on the retracment into the pin bar. A more aggressive advanced method of entry not recommended for anyone starting out.

Anyways, We did close as a BUOB on the bar you were talking about though we obviously didn't close above 9550. Stop is at BE and about half taken off at 9550. Still hoping for a pop through. If it does where could be the next likely trouble area? Yup you got it the low around 9590.

g.
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I believe . . .
  • #94,376
  • Apr 25, 2011 8:55pm Apr 25, 2011 8:55pm
Quoting AvanishDemo
Oh Cool..so u are on this Bull-Hunt..i stopped watching this pair long back but James gave a good explanation about it!

didn't had any position on this but I'm watching it too when James said about it to be either short-term or long-term(counter-trend setup)!
Yup! This is a big guy' setup. I know he likes these - pin bars at swing lows.



g.
I believe . . .
  • #94,377
  • Apr 25, 2011 9:09pm Apr 25, 2011 9:09pm
Quoting Be Cool
Got it. Zoom out. Look at the chart from the left to the right. If left is higher then trend is down, otherwise it is up. Keep it simple. I like it.
Price should take out 1.3200 (previous high) and make higher low before we can say the trend has changed....
not necessarily.
again, if u look at the weekly/monthly charts, we are in a steep downtrend.
a significant reversal/trend change maybe in force if we revisit & move above 1.44 - 1.50, then 1.58 - 1.68, IMHO.
these are long term charts so it will definitely take time to see if we get a trend change.
for now, a move to & above 1.32 could be a start of that potential trend change.

we need to see how price progresses.. watch PA @ 1.24, 1.27, 1.30, 1.32.
  • #94,378
  • Apr 25, 2011 10:51pm Apr 25, 2011 10:51pm
Hello everyone, tom here (first time poster). first off, a big thanks to all the senior members who have dedicated so much time and effort on this forum to helping others. i believe fate has led me this forum - all be it a little later than i had wished - but im very thankful and happy to have this community and hope that one day i'll be able to repay the favor (with helping others in their quest for financial freedom).
Now, down to business. It's been a while since anyone has mentioned silver from late January, early Feb (when we had the bullish outside bar that broke $28). WHAT A RUN WE'VE HAD!!. I've noticed that we closed yesterday with some slightly weak pinpars in silver and gold. certainly we would have liked to see a bearish bar for a stonger confirmation of reversal - nevertheless prices have broken to the downside. i've been waiting to see silver reach $50 and then take some shorts due to other traders taking profit at such a BRN. My biggest trouble is how long do i hold the short? certainly long term positions are still looking bullish but i was hoping there are others watching the metals and might have some thoughts. P.S. i tried posting some charts but my files are too large - future tom will find a way around that...
  • #94,379
  • Apr 26, 2011 1:33am Apr 26, 2011 1:33am
Going through some stocks after 5 days of skiing in some fantastic weather. Here are two potential weekly setups.

Buob engulfing consolidation and ready to breakout.

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  • #94,380
  • Apr 26, 2011 1:34am Apr 26, 2011 1:34am
Quoting karnivol
hi new to the thread, i know i'm suppose to stick to daily and weekly charts but i took 4hr pb counter with macd divergence FTA 8845 move to BE any comments?
Wow I didnt realise that the feeds can be this different, Im on FxPro and for me the "pin bar" closed on the lower half of the bar, not on the top as on your feed
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