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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

  • #96,661
  • Jun 15, 2011 9:28am Jun 15, 2011 9:28am
Quoting PhAnTi'
why placing a sell stop right above a demand area?
good question - Thank You,
where do You suggest I should move it ?

Peter
Jesus Christ is my only Lord !
  • #96,662
  • Jun 15, 2011 9:30am Jun 15, 2011 9:30am
USD/JPY pin bar is forming on the 4hr, one to keep an eye on.

Any thoughts?

BTW, thanks to mbqb11 for the help and directing me to the videos. Learned a lot and brushed up on some concepts that I was a bit rusty on.

http://img818.imageshack.us/img818/8...py4hpinbar.png
  • #96,663
  • Jun 15, 2011 9:49am Jun 15, 2011 9:49am
Quoting hipcio
good question - Thank You,
where do You suggest I should move it ?

Peter
I think you misunderstand...That is a weak pin running straight into resistance. Coming from nowhere in particular... Not the best setup imho.

jon
Attached Image (click to enlarge)
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PATIENCE... DISCIPLINE
  • #96,664
  • Jun 15, 2011 9:53am Jun 15, 2011 9:53am
Quoting g_j_hook@yah
I think you misunderstand...That is a weak pin running straight into resistance. Coming from nowhere in particular... Not the best setup imho.

jon
Yes, that is true small pin, straight into resistance area,
I thought there was a better place to put the sell stop order,

Thank You Jon

Peter
Jesus Christ is my only Lord !
  • #96,665
  • Jun 15, 2011 9:56am Jun 15, 2011 9:56am
Quoting Amart83
USD/JPY pin bar is forming on the 4hr, one to keep an eye on.

Any thoughts?

BTW, thanks to mbqb11 for the help and directing me to the videos. Learned a lot and brushed up on some concepts that I was a bit rusty on.

http://img818.imageshack.us/img818/8...py4hpinbar.png
Bar looked very nice to me too, but skipped it due to all those previous bar highs. No room to go, I think...
  • #96,666
  • Jun 15, 2011 9:58am Jun 15, 2011 9:58am
Quoting hipcio
Yes, that is true small pin, straight into resistance area,
I thought there was a better place to put the sell stop order,

Thank You Jon

Peter
there is......a strong pinbar with space coming OFF resistance....

jus messin

jon
PATIENCE... DISCIPLINE
  • #96,667
  • Jun 15, 2011 10:01am Jun 15, 2011 10:01am
Quoting Adilius07
Bar looked very nice to me too, but skipped it due to all those previous bar highs. No room to go, I think...
Thanks, I think I learned something: The 'tails' from the highs of the previous bars might represent areas of demand?
  • #96,668
  • Jun 15, 2011 10:04am Jun 15, 2011 10:04am
Quoting g_j_hook@yah
there is......a strong pinbar with space coming OFF resistance....

jus messin

jon
finally I got lost

Peter
Jesus Christ is my only Lord !
  • #96,669
  • Jun 15, 2011 10:21am Jun 15, 2011 10:21am
Quoting g_j_hook@yah
I think you misunderstand...That is a weak pin running straight into resistance. Coming from nowhere in particular... Not the best setup imho.

jon

In the words of the man himself, "Aint that the truth"
Coming from nowhere in particular.

Good on you GJ for saying it in simple terms, yet without the enigma.

Just that phrase alone will take someone a LoooooooooooooooonG Way!

It did me.
  • #96,670
  • Jun 15, 2011 10:27am Jun 15, 2011 10:27am
Quoting Pinbar
In the words of the man himself, "Aint that the truth"
Coming from nowhere in particular.

Good on you GJ for saying it in simple terms, yet without the enigma.
I see,
I agree completly with that, Jon is right
I thought that strong downtrend and round number and the vicinty of old support - seen on daily better - would cover the weakness of a pin, and I belived that the distance of my sell order from the low of the pin would preserve me from opening while the price would continue move up,

Thank You Pinbar

Peter
Jesus Christ is my only Lord !
  • #96,671
  • Edited 11:05am Jun 15, 2011 10:52am | Edited 11:05am
Quoting hipcio
I see,
I agree completly with that, Jon is right
I thought that strong downtrend and round number and the vicinty of old support - seen on daily better - would cover the weakness of a pin, and I belived that the distance of my sell order from the low of the pin would preserve me from opening while the price would continue move up,

Thank You Pinbar

Peter
Yeah, it is not only the PA, but where it comes from, that is the point, which GJ did a great job of explaining.
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  • #96,672
  • Jun 15, 2011 11:11am Jun 15, 2011 11:11am
Quoting Amart83
Thanks, I think I learned something: The 'tails' from the highs of the previous bars might represent areas of demand?
Yes, is like previous resistant now turns into support.
And in general we want to see more "space", here is a nice chart where Mike explained the concept of Space to me. See those diagonal lines are drawn until there is no room to draw them (means we are run out of space) with your PB we run out of space almost immediately, so no space, no trade for me...
Attached Image
  • #96,673
  • Jun 15, 2011 11:43am Jun 15, 2011 11:43am
if it close above green line...what do you think?
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  • #96,674
  • Jun 15, 2011 12:07pm Jun 15, 2011 12:07pm
I am not top trader unfortunately but I think...
M
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  • #96,675
  • Jun 15, 2011 12:24pm Jun 15, 2011 12:24pm
I never posted on this thread before, but I would just like to give my regards to James and the rest of the guys selflessly helping people. It has taken me many years to understand on my own things that you are giving away for free on this thread.

Just would like to add my 2c to the GBP/CHF post

To me it could continue down from this level but I think it is a harder trade than needs to be because of how the market overall is behaving right now. We have markets in the down trend which leads to dollar strength so I would stick to dollar pairs for continuations, I hope this makes sense.
  • #96,676
  • Edited 1:07pm Jun 15, 2011 12:53pm | Edited 1:07pm
Quoting Pinbar
In the words of the man himself, "Aint that the truth"
Coming from nowhere in particular.

Good on you GJ for saying it in simple terms, yet without the enigma.

Just that phrase alone will take someone a LoooooooooooooooonG Way!

It did me.
cheers mate, lets hope so eh!?

jon

EDIT: i see your eu/chf is doing nicely are u still in??
PATIENCE... DISCIPLINE
  • #96,677
  • Jun 15, 2011 1:00pm Jun 15, 2011 1:00pm
[ATTACH][/ATTACH]
Quoting mbqb11
Welcome JW

GOing back to demo was the best decision you could have made

Very nice trade on the EU. I marked the trouble area that we needed to watch(which we are now passed. If price can close below this this has a good chance of turning into resistance as well.

Again welcome

Mike
Decided to close this one on a positive note. It will probably keep on going but 3:1 is gonna be good enough for me right now Coming off of live trading the lower time frames I am definitely going to have to get used to seeing 200 pip+ trades and being able to hold onto them.

Again thanks for your input. I'm new to posting in forums in general. I am hoping that posting charts here will force a little more logic and accountability into my trade ideas.
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  • #96,678
  • Jun 15, 2011 1:10pm Jun 15, 2011 1:10pm
Quoting J.W. Holmes
[ATTACH][/ATTACH]

Decided to close this one on a positive note. It will probably keep on going but 3:1 is gonna be good enough for me right now Coming off of live trading the lower time frames I am definitely going to have to get used to seeing 200 pip+ trades and being able to hold onto them.

Again thanks for your input. I'm new to posting in forums in general. I am hoping that posting charts here will force a little more logic and accountability into my trade ideas.
niceliy done J.W. theres been some strong moves today so well done anyone who made pips on them

nothing caught my eye today and so i was on the side lines. lets see what tomorro brings??


jon
PATIENCE... DISCIPLINE
  • #96,679
  • Jun 15, 2011 1:11pm Jun 15, 2011 1:11pm
Quoting J.W. Holmes
...
Decided to close this one on a positive note. It will probably keep on going but 3:1 is gonna be good enough for me..
awesome EUR$ trade. well done JWH!
  • #96,680
  • Jun 15, 2011 1:27pm Jun 15, 2011 1:27pm
Quoting J.W. Holmes
[ATTACH][/ATTACH]

Decided to close this one on a positive note. It will probably keep on going but 3:1 is gonna be good enough for me right now Coming off of live trading the lower time frames I am definitely going to have to get used to seeing 200 pip+ trades and being able to hold onto them.

Again thanks for your input. I'm new to posting in forums in general. I am hoping that posting charts here will force a little more logic and accountability into my trade ideas.

Killer trade
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