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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

  • #100,581
  • Aug 17, 2011 7:35pm Aug 17, 2011 7:35pm
Quoting Donkey
when did you meet pinbar? i didn't know he looked like danny devito?

My feed on weeky isn't a really a pinbar, but yours look to be. I don't think that 1.3400 is "unreasonable" but there's a lot of traffic in the way as you noted. I marked what I consider FTA (and I am conservative in marking those). We can't be surprised at all if price reverses position there.

I wouldn't trade that weekly bar due to FTA so close and 1.3700. That being said, I posted last week that I had an order on the daily BEOB that followed the daily PB. It didn't...
Donkey beat me to it again, as I was making this chart. LOL

I agree with Donkey, 100%.

I know the Fibo is upside down, I am looking for a possible pullback area to continue this uptrend. We can see the 50 fibo is lining up with the PPZ area. Hope this helps.
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  • #100,582
  • Aug 17, 2011 7:40pm Aug 17, 2011 7:40pm
Quoting Donkey
when did you meet pinbar? i didn't know he looked like danny devito?

My feed on weeky isn't a really a pinbar, but yours look to be. I don't think that 1.3400 is "unreasonable" but there's a lot of traffic in the way as you noted. I marked what I consider FTA (and I am conservative in marking those). We can't be surprised at all if price reverses position there.

I wouldn't trade that weekly bar due to FTA so close and 1.3700. That being said, I posted last week that I had an order on the daily BEOB that followed the daily PB. It...
Ah... that's interesting... different feed. Of course, nothing's 'unreasonable'... poor choice of words.

Thanks for ur analysis, mate.

Oh, when did I meet Pinbar? "...we're family!"
  • #100,583
  • Aug 17, 2011 7:42pm Aug 17, 2011 7:42pm
Quoting snowly
yeah, was obvious since it didn't react properly at the string of bad news from gbp this morning.

was pissed that I've missed the target on the down spike by 10 pips so didn't touch it anymore... Obviously now I'm even more pissed

Jackson Hole is coming... it's gonna be fun after it'll be gone

I'm sorry, snowly. . . but I have no idea what this means . .
Indicators show the past. Price Action "Indicates" the future.
  • #100,584
  • Aug 17, 2011 7:47pm Aug 17, 2011 7:47pm
Quoting Pinbar
Donkey beat me to it again, as I was making this chart. LOL

I agree with Donkey, 100%.

I know the Fibo is upside down, I am looking for a possible pullback area to continue this uptrend. We can see the 50 fibo is lining up with the PPZ area. Hope this helps.
As long as you're watching the 50 for the pullback, I guess it doesn't really doesn't matter.
  • #100,585
  • Aug 17, 2011 7:50pm Aug 17, 2011 7:50pm
Quoting nAVIN2007
hey mike..pullback to the 50 fibo worked like a charm
damn u just gotta love this stuff

thanks mike for all yah do
Very nice . . . .see, you only need to trade once a month . .
Indicators show the past. Price Action "Indicates" the future.
  • #100,586
  • Aug 17, 2011 7:52pm Aug 17, 2011 7:52pm
Quoting TiaForex
I had the same problem. I was trying to overload with information because I thought I was smart and could assimilate it all. But I was just looking for certainty, which doesn't exist in trading. I have no idea what the next trade will do, but if I have an edge it shouldn't matter.

Clearing out all the noise from my head really did help me trade better. When I'm spending too much time on reuters, bloomberg or even on forums, it's a sign for me (and only me) that my head is getting out of the game.

Speaking of which...
Hey Aaron . .remember me?. .I'm a fan of yours from way back . .

Good to see you.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #100,587
  • Aug 17, 2011 7:55pm Aug 17, 2011 7:55pm
Quoting Pinbar
Donkey beat me to it again, as I was making this chart. LOL

I agree with Donkey, 100%.

I know the Fibo is upside down, I am looking for a possible pullback area to continue this uptrend. We can see the 50 fibo is lining up with the PPZ area. Hope this helps.
Thanks for ur response.
  • #100,588
  • Aug 17, 2011 8:00pm Aug 17, 2011 8:00pm
Quoting Chelski
Jaroo,

16475 is matching highs for the last 3 weeks (save a pip or two) as opposed to a long running PPZ (with 16500 just above)
I assume the close over 16500 is significant and then entry on touch 1 hour chart? (or wait for a break of the bar?)
Hey Chelski . .sorry for the post and run on the GU from earlier today . .also to answer a few PMs I got today . .


Here's is a more detailed explanation. . .

On the Weekly we had a very clear, strong Two (Three/ Four) Bar High with very good Space to trade into. Two (Three, etc) Bar High (or Low) are a very valid entry when PBT&CA or B our strong level . .I've talked about this before . . .Eur/Jpy example (chart)

Since this is a Weekly level we have Weekly targets (in blue). Since this was a Strong level, we can move down to a lower TFs and I chose the Hourly. We can also use the TF that PBT&CA as targets as well. . .meaning the Close and the High of the Hourly bar that PBT&CA.

If Price returns to this level, I can see it acting as strong Support. Bullish PA at this level would be great confirmation.

What about the 1.6500 BRN? When Price cut through the 1.6500 BRN on the initial breakout like it wasn't even there . . I ignore it too.
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Indicators show the past. Price Action "Indicates" the future.
  • #100,589
  • Aug 17, 2011 8:08pm Aug 17, 2011 8:08pm
Guys need help with this previous chart. What's the logic behind taking this trade long when are FTA is near? http://l.yimg.com/us.yimg.com/i/mesg/emoticons7/7.gif
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  • #100,590
  • Aug 17, 2011 8:12pm Aug 17, 2011 8:12pm
Quoting geniusztc
hey steve .on my chart :on h4 chart ,the 1.6475 will be the s&r line .and now it near the big up trend line on weekly chart again .need PA
PA would have been nice . .but no, you didn't need it.

Good eye, genuisztc. . .
Indicators show the past. Price Action "Indicates" the future.
  • #100,591
  • Aug 17, 2011 8:13pm Aug 17, 2011 8:13pm
Quoting Pinbar
Do we have a breakout trade in the making.
Let's see what it does.
Indicators show the past. Price Action "Indicates" the future.
  • #100,592
  • Aug 17, 2011 8:18pm Aug 17, 2011 8:18pm
Quoting Pinbar
Which is going to be stronger, the 165500 or the 1.65000 with the consolidation?

EDIT: The daily bar just closed above the BRN and the consolidation box on IBFX.

Let's just see if the top of this box will act as a springboard, if price comes back and shows us some PA.
Double . .
Indicators show the past. Price Action "Indicates" the future.
  • #100,593
  • Aug 17, 2011 8:31pm Aug 17, 2011 8:31pm
Quoting jarroo
Double . .
LOL

Thank Jim

I am working on a sizable dose of Both, Jims, Mike and a Bmac Zen riddle, every morning and evening, in between my daytime job.

Really grounds one.
  • #100,594
  • Aug 17, 2011 8:42pm Aug 17, 2011 8:42pm
Quoting TransPorter
Guys need help with this previous chart. What's the logic behind taking this trade long when are FTA is near? http://l.yimg.com/us.yimg.com/i/mesg/emoticons7/7.gif
Hey TP

It's really how you want to use this information that is most important and it varies from trader to trader

Just to give you some ideas

Trader A(TA)- Takes a long on the break of the bar and places stop below pinbar. They reduce their stop at the FTA to under the current weekly bar. They want to reduce majority of their risk(80+%) and yet remain in logically to see what happens next

Trader B(TB) - Takes an entry at the break of the bar targets the FTA for a small move and gets out or moves to b/e

TC - Starts with a stop below the left eye targets FTA with a larger position size or b/e or insert take half off etc


The list can go on and on. It's about using the information that is there logically though. I show the few (of many scenarios) above to show what processes I go through with each trade I might take. I then judge the situation and determine at the time what I believe is my best course of action.

I hope this helps a bit more
Mike
  • #100,595
  • Aug 17, 2011 8:56pm Aug 17, 2011 8:56pm
Quoting Pinbar
LOL

Thank Jim

I am working on a sizable dose of Both, Jims, Mike and a Bmac Zen riddle, every morning and evening, in between my daytime job.

Really grounds one.
That's great Pinbar . . keep at it brother.

Keep going through James16's charts and Mike's charts . .Bemac's charts tend to hurt my head a little, videos, etc., . .just kidding, B . . . . .you'll get there.

Did you like that Eur/Cad chart? Nice strong level
Indicators show the past. Price Action "Indicates" the future.
  • #100,596
  • Aug 17, 2011 8:56pm Aug 17, 2011 8:56pm
Another possibly interesting area to keep my eye on.
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  • #100,597
  • Aug 17, 2011 8:59pm Aug 17, 2011 8:59pm
Quoting jarroo
That's great Pinbar . . keep at it brother.

Keep going through James16's charts and Mike's charts . .Bemac's charts tend to hurt my head a little, videos, etc., . .just kidding, B . . . . .you'll get there.

Did you like that Eur/Cad chart? Nice strong level
Yeah, I am watching the consolidation.

Thanks Jarroo, got to run.
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  • #100,598
  • Aug 17, 2011 9:00pm Aug 17, 2011 9:00pm
Quoting Pinbar
Yeah, I am watching the consolidation.

Thanks Jarroo, got to run.

Yeah its building up nicely . .

Later Pinbar . .
Indicators show the past. Price Action "Indicates" the future.
  • #100,599
  • Aug 17, 2011 9:09pm Aug 17, 2011 9:09pm
Interesting IPB at a Swing High on the Gbp/Chf. .don't you think, ghous? . .
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Indicators show the past. Price Action "Indicates" the future.
  • #100,600
  • Aug 17, 2011 9:42pm Aug 17, 2011 9:42pm
Quoting jarroo
Interesting IPB at a Swing High on the Gbp/Chf. .don't you think, ghous? . .
If the close is below 1.3022, it would have been perfect.
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