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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

  • #98,881
  • Jul 19, 2011 8:48am Jul 19, 2011 8:48am
Quoting Imphilomath
Thanks Mike and Pin for your insight. I am sticking to trade with the trend to increase the probability and would have burnt myself in this case. Appreciate your points.

In this case, would you wait for move below that trend line and retest before shorting?

Always appreciate you sharing your thoughts. Learning a lot.

cheers
Hey Imp

Right now there is not much going on this pair to make sense of. Or what I call just a choppy pair. Now that doesn't mean a great bar won't show up. But in terms of areas of interest, when price gets real choppy I look towards clear important areas to watch for PA. I marked them in blue boxes here

Best
Mike
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  • #98,882
  • Jul 19, 2011 8:50am Jul 19, 2011 8:50am
Quoting g_j_hook@yah
hey G!!! YOUR ALIVE!!!!

Good to see u posting mr lurker!!! lol


jon
lol

yeah haven't been posting much recently,

hope to be a bit more active now.

g.
I believe . . .
  • #98,883
  • Jul 19, 2011 8:51am Jul 19, 2011 8:51am
Mike, can i get your take on this eurusd pinbar long i took on the lasr daily close. Thanks
  • #98,884
  • Jul 19, 2011 8:51am Jul 19, 2011 8:51am
Quoting mbqb11
hey C

Yes those 3 bar highs where my blue box is, would be the FTA, but also the 8800 is a FTA since price couldn't close over it. HEre is what I was trying to point out yesterday


Hope it helps
Mike
lol...hind sight is a wonderfull thing!!!


jon
PATIENCE... DISCIPLINE
  • #98,885
  • Jul 19, 2011 8:55am Jul 19, 2011 8:55am
Quoting deankenny21
Mike, can i get your take on this eurusd pinbar long i took on the lasr daily close. Thanks
Hey Dean

Here ya go bud


Best
Mike
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  • #98,886
  • Jul 19, 2011 8:57am Jul 19, 2011 8:57am
Quoting mbqb11
Hey Dean

Here ya go bud


Best
Mike
cheers Mike, but the bar im on about is yesterdays close daily bar. I know its a bit choppy, but im taking early profits when i can and SL to be. Ive played tennis with eurusd all week up and down, taking small profits but still profits all the same
  • #98,887
  • Jul 19, 2011 8:59am Jul 19, 2011 8:59am
Quoting ghous
lol

yeah haven't been posting much recently,

hope to be a bit more active now.

g.
glad to hear it bro....welcome back!!


jon
PATIENCE... DISCIPLINE
  • #98,888
  • Jul 19, 2011 9:00am Jul 19, 2011 9:00am
Quoting deankenny21
cheers Mike, but the bar im on about is yesterdays close daily bar. I know its a bit choppy, but im taking early profits when i can and SL to be. Ive played tennis with eurusd all week up and down, taking small profits but still profits all the same
Hey D

Sorry that is the bar I meant to point the talk bubble too in that chart

Best
Mike
  • #98,889
  • Jul 19, 2011 9:01am Jul 19, 2011 9:01am
audcad 4h
Need to reduce my greed and leave the last pip in the market...
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Trading: the skill of avoiding trades
  • #98,890
  • Jul 19, 2011 9:02am Jul 19, 2011 9:02am
Quoting mbqb11
Hey D

Sorry that is the bar I meant to point the talk bubble too in that chart

Best
Mike
i thought so, because when u said playing in this box, that box area wouldnt be apparent in the bar you pointed it, but makes sense now thanks. I got a PPV around 1.4030 which i was playing off aswell as confirmation/confluence
  • #98,891
  • Jul 19, 2011 9:14am Jul 19, 2011 9:14am
Quoting deankenny21
ah ok i see, but i thought the open and close were important to be close to make it look like "eyes" from what ive read in J16 teachings
Pin bar open and close (or in other words the range of trading for the time period the bar/candle is representing) is usually a bit fatter in pin bar to show some shift from buyers to sellers or vice versa.

If the the trading range b/w open and close is thin - it means that we dont have a clear winner yet, and its still an ongoing tussle - indecision.

It doesnt always mean that perfact looking pin will always work and inperfact one wont, but AFAIK they are the general rules.

Location is the key and if you anticipate the price move in advance and if it does what you thought it would - there is no harm in taking the trade.
Trading is a test match not a Twenty20.
  • #98,892
  • Jul 19, 2011 9:22am Jul 19, 2011 9:22am
Quoting mbqb11


Don't shoot the messenger. Seriously I have thousands of posts, if someone doesn't want to read them it doesn't hurt my feelings.Especially that last post, really I laughed. But anyone who does, well I share A LOT. I appreciate the stick up from my friends, but really that stuff doesn't bother me.

There is too much to be happy and thankful in life to waste ones time being angry or mad. This goes for anything. It carries over to all things in your life when you do this. I have learned that and continue to learn it from the great people that...
Hey Mike, you are a great person and always trying to help people, you are a good friend to all of us here, there always strange voice out there in teh world, but don't mind that, my friend.
----------------------------- Discipline makes the difference.
  • #98,893
  • Jul 19, 2011 10:17am Jul 19, 2011 10:17am
Quoting decentchap
TRADE PLAN
Entry at 1.5110 stop loss 1.5210- stop move to b/e at 1.5080 - target 1.5025
If the move goes agnaist me and price closes above 1.5175 - come out of trade.

Reason for entry:
1.52 BRN and Pivot zone
the longer term trend is down.
Pin bar formation
pb is also on 50 fib level.
----------------------------------

Please let me know if you have any thoughts.
-------------------------------------------------------
Stop set to b/e. Enjoying the free ride now..
Trading is a test match not a Twenty20.
  • #98,894
  • Jul 19, 2011 10:32am Jul 19, 2011 10:32am
eurchf4h
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  • #98,895
  • Jul 19, 2011 11:41am Jul 19, 2011 11:41am
When trading daily and 4-hr timeframes. What have you guys found to be the most successful stop loss policy? I have been moving to break even after +30 to 35 pips and I seem to get stopped out a lot only to realize that the market will continue in my direction after stopping me out.
  • #98,896
  • Jul 19, 2011 11:48am Jul 19, 2011 11:48am
Quoting Maverick69
When trading daily and 4-hr timeframes. What have you guys found to be the most successful stop loss policy? I have been moving to break even after +30 to 35 pips and I seem to get stopped out a lot only to realize that the market will continue in my direction after stopping me out.
I havnt posted to this forum in ages... but i have been following very closely... i would suggest closing half of your position instead of moving to BE... that way if u get stopped ur loses are covered with the partial profit you took.
  • #98,897
  • Edited 12:14pm Jul 19, 2011 12:04pm | Edited 12:14pm
This is a trade I spotted a little while ago. I was not actually able to take it due to a computer issue but it turned out nicely. A pin bar formed on the EURUSD H1 chart at the intersection of a PPZ/BRN/365/trendline. I recall that Jim said these setups give you the ability to have a tight stop and are very predictable.

Entry: 1.4195
Stop: 1.4220
TP: 1.4150
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Fail to plan, plan to fail.
  • #98,898
  • Jul 19, 2011 12:41pm Jul 19, 2011 12:41pm
Quoting Maverick69
When trading daily and 4-hr timeframes. What have you guys found to be the most successful stop loss policy? I have been moving to break even after +30 to 35 pips and I seem to get stopped out a lot only to realize that the market will continue in my direction after stopping me out.
break of and close above fta. Have something between you and price; not pips, but a potential resistance, wherever that might be pips wise.
  • #98,899
  • Jul 19, 2011 12:42pm Jul 19, 2011 12:42pm
price seems to be uncertainly bouncing inbetween the 150 and bottom trend line.....no close or hardly a move above the bottome trend line of triangle...seems to be getting respect
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  • #98,900
  • Jul 19, 2011 1:27pm Jul 19, 2011 1:27pm
I know the day is not over yet but it "looks like" a beovb is forming on the day chart.What is your opinion as far as is it at support?Is this a trade?
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