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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

  • #99,801
  • Aug 3, 2011 4:25pm Aug 3, 2011 4:25pm
i posted this below chart earlier, on buying here on the 4 hr, its not a pinbar, but we have a pin pointing down right by the up trendline for the daily, confluence with support/ppz AND RN of 1.07 thats 3 confluences i had in confirming to buy, i am up now over 50pips, i have taken 1 third of my trade out for profits and moved SL on remaining positions.

my 1st TP area was 1.0760 my second is 1.0780 and final and third position will remain in hoping for the break above 1.08

J16 or MIKE could you put any input onto my aud usd trade and was it a good way of looking at it for the buy ??? many thanks and happy pipping

here is the chart just before taking the trade

EDIT!! : and also just checking the daily chart we have a small pinbar also in favour of my position on this pair, it didnt close within the last bar BUT im already in the trade and up.

http://i53.tinypic.com/168smfq.jpg
  • #99,802
  • Aug 3, 2011 4:28pm Aug 3, 2011 4:28pm
Quoting james16
FANTASTIC TO SEE THIS AFTER JUST 6 POSTS.

You will get your runner.

be patient and great things await you.

jim

Many Thanks for your words of encouragement.

I take my hat off to you and all the senior members who take their time to share their experience and guide the people that want to listen and learn.

Regards

GP
  • #99,803
  • Aug 3, 2011 4:49pm Aug 3, 2011 4:49pm
Hi Guys

I'd just like to say "Hello" for the first time and comment on what an amazing thread / resource this and the group are. I just wish I'd found it way back, a comment I know has been made a lot here by others.

I've been going through the free material on the website and learning loads, and also the "not to be missed" posts of the thread. In terms of going back through the thread to get up to speed on the current situation, how many pages back are people tending to start from? Obviously over 6.5k pages is a big ask - I'm thinking of reading the last 500 or so pages. What do people think?

And finally, what are people's thoughts on the audusd daily (I'll try attaching a pic in a minute - not sure if I can as a newb). Not quite a proper pinbar yet, as I understand it, current price is outside the range of the previous bar. If this remains the case, is this then a show stopper? It looks good in terms of the strong resistance at around today's high, that is to say, if it can break thru it... Hope I'm making sense
Attached Image (click to enlarge)
Click to Enlarge Name: audusd030811.gif Size: 29 KB
  • #99,804
  • Aug 3, 2011 4:58pm Aug 3, 2011 4:58pm
great question with multiple answers that could be correct.

im gonna give you one that might surprise a lot of people.

pin bars dont work. pin bars by themselves are useless.

thats why it drives me nuts when i see people getting excited because they see "a pin bar".

un derstanding side to side support/resistance and copnfluence are what allows a pin bar or any bar "to work".

even then they dont "work" until you learn how to work the method real time under live conditions. demo or real.

if everyone that reads this one post would just sit back and relax, take a deep breath and say the following to themselves.

i have one year from today to slowly learn the method and learn to use my brain from a common sense perspective.

if you the reader will follow the outline in post 1 i can with a great deal of confidence say to you that within 1 to 3 years you will be averaging 5 percent or better a month.

i dont talk hype people. i know its very possible.

jim



Quoting AQs
James I'm interested in the logic behind trades...
Can you explain why pinbar work in the long run?

(I'd like to understand what I'm doing and not follow blindly the instructions)...
Glad if you can help
  • #99,805
  • Aug 3, 2011 4:58pm Aug 3, 2011 4:58pm
Quoting deankenny21
i posted this below chart earlier, on buying here on the 4 hr, its not a pinbar, but we have a pin pointing down right by the up trendline for the daily, confluence with support/ppz AND RN of 1.07 thats 3 confluences i had in confirming to buy, i am up now over 50pips, i have taken 1 third of my trade out for profits and moved SL on remaining positions.

my 1st TP area was 1.0760 my second is 1.0780 and final and third position will remain in hoping for the break above 1.08

J16 or MIKE could you put any input onto my aud usd trade and was it...

hey Dean

A bit confused here. Did you buy at that rising trendline the FIRST time, or this recent time. If it was the first time, I don't mind that so much but the more times it touches up on a trendline the less confidence I begin to have in them(if it happens in a short time). Touch trading is fine but in my view tougher. I don't see any pinbar on the daily but maybe your close is different(if so ignore this next part). Did you read that last post by james about what a pinbar is
http://www.forexfactory.com/showthre...98#post4834898

Best
Mike
  • #99,806
  • Aug 3, 2011 5:05pm Aug 3, 2011 5:05pm
Quoting james16
great question with multiple answers that could be correct.

im gonna give you one that might surprise a lot of people.

pin bars dont work. pin bars by themselves are useless.

thats why it drives me nuts when i see people getting excited because they see "a pin bar".

un derstanding side to side support/resistance and copnfluence are what allows a pin bar or any bar "to work".

even then they dont "work" until you learn how to work the method real time under live conditions. demo or real.

if everyone that reads this one post would...


can you put that in post 1 links
  • #99,807
  • Aug 3, 2011 5:09pm Aug 3, 2011 5:09pm
Hey mike, I wasn't awake or around for the first touch but the second had 3 confs otherwise I wouldn't have traded it, the second time it bounced quite hard so the buyers are quite strong the just a case of the sellers takin profits and buggering off
  • #99,808
  • Aug 3, 2011 5:15pm Aug 3, 2011 5:15pm
Quoting james16
great question with multiple answers that could be correct.

im gonna give you one that might surprise a lot of people.

pin bars dont work. pin bars by themselves are useless.

thats why it drives me nuts when i see people getting excited because they see "a pin bar".

un derstanding side to side support/resistance and copnfluence are what allows a pin bar or any bar "to work".

even then they dont "work" until you learn how to work the method real time under live conditions. demo or real.

if everyone that reads this one...



nice to see ya around time by time James,

hope you are doing good !

kindest regards from Germany,

Jonas
Hero calls followed by margin calls...
  • #99,809
  • Aug 3, 2011 5:23pm Aug 3, 2011 5:23pm
Quoting mach
Hi Guys

I'd just like to say "Hello" for the first time and comment on what an amazing thread / resource this and the group are. I just wish I'd found it way back, a comment I know has been made a lot here by others.

I've been going through the free material on the website and learning loads, and also the "not to be missed" posts of the thread. In terms of going back through the thread to get up to speed on the current situation, how many pages back are people tending to start from? Obviously over 6.5k pages is a big ask - I'm thinking...


Hi Mach,

This bar is closed on my feed. It closed outside of the previous bar, so it is not a pin. More importantly it closed below the PPZ area you have marked at 1.0786ish. That area is a really good level in my opinion. A pinbar close above that level would have had me interested


Take care

Jacob
  • #99,810
  • Aug 3, 2011 5:28pm Aug 3, 2011 5:28pm

Total predictions for june was 8 and all 8 were accomplished.

The question for you is can you do the same? Sure you can.

Total pips? I dont know you can go look and count them.

The purpose of the exercise is to make succesful calls.

June-8/8.

  • #99,811
  • Aug 3, 2011 5:30pm Aug 3, 2011 5:30pm
Quoting james16

Total predictions for june was 8 and all 8 were accomplished.

The question for you is can you do the same? Sure you can.

Total pips? I dont know you can go look and count them.

The purpose of the exercise is to make succesful calls.

June-8/8.

nice job James.... but i cant see your charts , hm ?
Hero calls followed by margin calls...
  • #99,812
  • Aug 3, 2011 5:31pm Aug 3, 2011 5:31pm
THANKS BUDDY.

JIM

Quoting PhAnTi'



nice to see ya around time by time James,

hope you are doing good !

kindest regards from Germany,

Jonas
  • #99,813
  • Aug 3, 2011 5:35pm Aug 3, 2011 5:35pm
For some reason the charts are not showing...

Quoting james16

Total predictions for june was 8 and all 8 were accomplished.

The question for you is can you do the same? Sure you can.

Total pips? I dont know you can go look and count them.

The purpose of the exercise is to make succesful calls.

June-8/8.

  • #99,814
  • Aug 3, 2011 5:46pm Aug 3, 2011 5:46pm
HUH. ANYONE ELSE? I CAN SEE THEM FINE. i pasted them. may have to just go upload them.

jim

Quoting PhAnTi'
nice job James.... but i cant see your charts , hm ?
  • #99,815
  • Aug 3, 2011 5:47pm Aug 3, 2011 5:47pm
Quoting james16
HUH. ANYONE ELSE? I CAN SEE THEM FINE.

jim
I can see them. I am not sure if thats cause I am signed into the private forum though. When I signed in they showed up.

Jacob
  • #99,816
  • Aug 3, 2011 5:49pm Aug 3, 2011 5:49pm
Hi Jim, Awesome to see you back; always hoping you're in great health & spirit!

Can't see your charts either. Seems only PF members can see them when signed in?
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #99,817
  • Aug 3, 2011 5:50pm Aug 3, 2011 5:50pm
ok i will get them reposted.

jim

Quoting teemo
Hi Jim, Awesome to see you back; always hoping you're in great health & spirit!

Can't see your charts either. Seems only PF members can see them when signed in?
  • #99,818
  • Aug 3, 2011 5:51pm Aug 3, 2011 5:51pm
Quoting teemo
Hi Jim, Awesome to see you back; always hoping you're in great health & spirit!

Can't see your charts either. Seems only PF members can see them when signed in?

Yeah thats definitely it then, this is what I see, after I signed in.

I thought Jim was trying to push the thread to 100k posts for moment

Jacob
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2011-08-03 at 3.50.24 PM.png Size: 370 KB
  • #99,819
  • Aug 3, 2011 6:01pm Aug 3, 2011 6:01pm
Ty James... I'm more confused now
I will try to learn anyway

I found this great looking pinbar, but this isn't a good trade due to its position
Attached Image (click to enlarge)
Click to Enlarge Name: pin 4 aug.jpg Size: 69 KB
  • #99,820
  • Aug 3, 2011 6:03pm Aug 3, 2011 6:03pm
Quoting AQs
Ty James... I'm more confused now
I will try to learn anyway

I found this great looking pinbar, but this isn't a good trade due to its position
Are you sure that closed within the previous bar, doesn't look like it did to me

Put a line on your chart at 1.0778ish. This is a good PPZ area which this bar failed to close above. This is more important in my opinion

Jacob

Edit: I see your PPZ that you have drawn on your chart now, I need to where my glasses apparently.
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