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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

  • #96,041
  • Jun 5, 2011 12:13am Jun 5, 2011 12:13am
Quoting phpscott
Incorrect. The technical definition of a pinbar is any bar extends away from price, has a small body, and has a long nose. A James16 pinbar uses that definition but also requires that both the open and close lie within the range of the previous bar.

I would also stay away from this one due to the support and resistance reasons you outlined; too many bar highs and lows at the pinbar's low.

Scott
I think that's pretty much what I was trying to say about the pinbar I just left out the part about long nose since it is assumed that it is pretty much the defining characteristic of them. I'm merely explaining the portion about the close of the pinbar since it's where most people get confused about.
  • #96,042
  • Jun 5, 2011 12:18am Jun 5, 2011 12:18am
The close of a bearish pinbar does not need to be lower than the open and vise versa. Many add that requirement but that is going beyond a James16 pinbar.

Scott

Quoting biDc
I think that's pretty much what I was trying to say about the pinbar I just left out the part about long nose since it is assumed that it is pretty much the defining characteristic of them. I'm merely explaining the portion about the close of the pinbar since it's where most people get confused about.
  • #96,043
  • Jun 5, 2011 8:14am Jun 5, 2011 8:14am
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
Quoting phpscott
The close of a bearish pinbar does not need to be lower than the open and vise versa. Many add that requirement but that is going beyond a James16 pinbar.

Scott
Wow! Going beyond a James16 pinbar?
Does that make it a James17 pinbar then?
I have seen the enemy, and it is me.
  • #96,044
  • Jun 5, 2011 9:04am Jun 5, 2011 9:04am
does this pair depend on EURUSD and USDJPY?
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A chart helps those who can read it.
  • #96,045
  • Jun 5, 2011 9:18am Jun 5, 2011 9:18am
the 21ema on weekly chart ,and the 150ema on daily chart
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A chart helps those who can read it.
  • #96,046
  • Jun 5, 2011 10:50am Jun 5, 2011 10:50am
Quoting Alexone
I took the liberty to point out what i think are other 2 bar pin bars until the first arrow u drew. So do they all meet the criteria? Ty!
Hey Alex

Little cluttered but tried to give you some notes

Best
Mike
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  • #96,047
  • Jun 5, 2011 1:03pm Jun 5, 2011 1:03pm
Quoting geniusztc
does this pair depend on EURUSD and USDJPY?
He he - I just drew those exact same trendlines on my chart
Anything can happen.
  • #96,048
  • Jun 5, 2011 1:10pm Jun 5, 2011 1:10pm
EUR/CAD is at an interesting level. Put it on my watchlist for a short or PBT&CA
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Anything can happen.
  • #96,049
  • Jun 5, 2011 1:17pm Jun 5, 2011 1:17pm
I think I need to get myself over the the Jaroo section in the PF - this one has broken through and closed above..
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Anything can happen.
  • #96,050
  • Jun 5, 2011 1:30pm Jun 5, 2011 1:30pm
Another level to watch - on the monthly this time. My watchlist is growing
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Anything can happen.
  • #96,051
  • Jun 5, 2011 1:38pm Jun 5, 2011 1:38pm
Another one!

Closed below BRN 0.9000 but the 61.8 wasn't having any of it..
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Anything can happen.
  • #96,052
  • Jun 5, 2011 1:49pm Jun 5, 2011 1:49pm
These things are like busses - you wait all year then 10 of them come at once..
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Anything can happen.
  • #96,053
  • Jun 5, 2011 1:53pm Jun 5, 2011 1:53pm
Quoting ddinnov
Another level to watch - on the monthly this time. My watchlist is growing
kiwi , correction at histo high? hmm

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Hero calls followed by margin calls...
  • #96,054
  • Jun 5, 2011 2:10pm Jun 5, 2011 2:10pm
Quoting PhAnTi'
kiwi , correction at histo high? hmm

Attachment
Great - another one to watch, is this Christmas or something?
Anything can happen.
  • #96,055
  • Jun 5, 2011 2:13pm Jun 5, 2011 2:13pm
Quoting ddinnov
Great - another one to watch, is this Christmas or something?
hmm first u need to bank the pippers
Hero calls followed by margin calls...
  • #96,056
  • Jun 5, 2011 2:14pm Jun 5, 2011 2:14pm
Not as clean as some of the other ones but EUR momentum could push this one up to 120 maybe?
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Anything can happen.
  • #96,057
  • Jun 5, 2011 4:35pm Jun 5, 2011 4:35pm
Hi all

Have just done my weeklydaily scanning and do not see any high probability setups at the moment! Patience is the name of the game. watching some pairs closely but nothing doing just now(for me). Good trading to all in the meantime!

Kal
  • #96,058
  • Jun 5, 2011 8:04pm Jun 5, 2011 8:04pm
Quoting Kalbar
Hi all

Have just done my weeklydaily scanning and do not see any high probability setups at the moment! Patience is the name of the game. watching some pairs closely but nothing doing just now(for me). Good trading to all in the meantime!

Kal
AUDJPY looks great to me, IMO.

http://img135.imageshack.us/img135/5935/audjpy.png

Uploaded with ImageShack.us


Hikkake pattern and Pin bar combo. It tested a line of support and got whipped back up.
  • #96,059
  • Jun 5, 2011 9:08pm Jun 5, 2011 9:08pm
The location is only so-so in my opinion. Look to trade PA setups at areas of strong confluence only. If the pinbar occurred at 84.00, I would be all over it. See the attached chart for reference.

Scott

PS. Zoom out to see the bigger picture. Your chart causes 85.00 to appear much stronger than it really is.

Quoting mojo6911
AUDJPY looks great to me, IMO.

http://img135.imageshack.us/img135/5935/audjpy.png

Uploaded with ImageShack.us


Hikkake pattern and Pin bar combo. It tested a line of support and got whipped back up.
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  • #96,060
  • Jun 5, 2011 10:25pm Jun 5, 2011 10:25pm
What do you guys think about this one:
BUOB from a solid level 1.6300
FTA 1.6500
W1 just bounced from 150 EMA

Cheers
Andreas
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