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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

  • #102,161
  • Sep 23, 2011 11:49pm Sep 23, 2011 11:49pm
Quoting AvanishDemo
hey G,this looks good man.
Hi Avanish
Just a different perspective!
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Nothing personal,just business
  • #102,162
  • Sep 24, 2011 12:19am Sep 24, 2011 12:19am
Hey guys that's a few nice charts been posted there will be watching them on Sunday night!
  • #102,163
  • Sep 24, 2011 12:21am Sep 24, 2011 12:21am
palladium could reserve there.
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meine augen sind die sterne
  • #102,164
  • Sep 24, 2011 3:48am Sep 24, 2011 3:48am
Going through the posts on this thread, I notice that some of the more exotic pairs on the FX market are traded by you guys. Not just the usual suspects. I've always steered clear of the exotics due to the size of the spread.
  • #102,165
  • Sep 24, 2011 4:14am Sep 24, 2011 4:14am
Quoting picon1
I've always steered clear of the exotics due to the size of the spread.
Don't trade at anything smaller than D1, and spread is not so important then. Just my $0.02..
  • #102,166
  • Sep 24, 2011 5:45am Sep 24, 2011 5:45am
Quoting AvanishDemo
hey G,this looks good man.
certainly does.

Notice the other bits of confluence in addition to the 50 RN PPZ.

3rd touch of the mighty trend line.

the 61.8 FIB



g.
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I believe . . .
  • #102,167
  • Sep 24, 2011 6:00am Sep 24, 2011 6:00am
Quoting fxgroup
Hi Avanish
Just a different perspective!
Just like regular pin bars don't expect IPBs to be reversing trends all the time.

The mosrt conservative way to play these (and they way I play them) is to take full profit before the bar low (in case of a bearish IPB) is hit. Notice that in this case we are not damaging the over all story by taking a short term trade to the short side. This is similar to what you do with an A+ bearish pin bar against a decent uptrend. You still go for it but you know that expecting 500 pips out of it is not the right thing to do.

Again that doesn't go on to mean that taking all kinds of setups against a dominant story in the market is totally valid. You have to know how to differentiate between the really really good trades and the good trades.

What we have on the USD/NOK on the daily is what I refer to as A+ (the only worry being that it occurred on a Friday and a weekend gap might destroy the setup)

g.
I believe . . .
  • #102,168
  • Sep 24, 2011 6:05am Sep 24, 2011 6:05am
Quoting fluiDynamic
Interesting... two consecutive pinbars on the daily + inside bar..
Attachment

Interesting but, on my broker feed, it looks completely different on the daily, neither of the last two bars appear to be pinbars.

It looks a little better on my 240 minute chart but there's horrible looking traffic congestion to the left with an FTA around about 30 pips away from current price, also on my 240 chart there is a much nicer looking bullish pin that precedes the other two, unfortunately it was almost at a mini high, for me I would have liked to have seen it close a little lower down just above the PPZ that I have marked up with the same amount of protrusion of the nose, at that point it would be at a mini low and be poking out into clear space.
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  • #102,169
  • Sep 24, 2011 6:09am Sep 24, 2011 6:09am
Quoting AvanishDemo
my next fish..
Compare the size of your bar with the 2 marked bullish bars.

Notice the failure of the BEOB to close below 7000

Could the BEOB be more of a breakout plus pull back to the 7000 rather than a significant delineation of the changing market sentiment?

Just a few things to think about

At best you need a hard break

g.
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I believe . . .
  • #102,170
  • Sep 24, 2011 6:24am Sep 24, 2011 6:24am
Here is one Jarroo has got to like the look of.
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  • #102,171
  • Sep 24, 2011 7:57am Sep 24, 2011 7:57am
Quoting ghous
Compare the size of your bar with the 2 marked bullish bars.

Notice the failure of the BEOB to close below 7000

Could the BEOB be more of a breakout plus pull back to the 7000 rather than a significant delineation of the changing market sentiment?

Just a few things to think about

At best you need a hard break

g.

Awesome G, I would have said the same thing. A good break could get us to 6800 but without a hard break as you say I would be very nervous

Mike
  • #102,172
  • Sep 24, 2011 8:14am Sep 24, 2011 8:14am
Waiting for this pair to close above 3500 as confluence of BRN with Fib and TL looks good.
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  • #102,173
  • Sep 24, 2011 8:52am Sep 24, 2011 8:52am
AUD/JPY

Pinbar is not that great of a size but I like the location. Closed above 74
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  • #102,174
  • Sep 24, 2011 9:23am Sep 24, 2011 9:23am
Quoting aserbfx
weekly chart of oats future showing a triangle. next touch would be at the upper side. wait for a break in either direction.
broke through and closed below...
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meine augen sind die sterne
  • #102,175
  • Sep 24, 2011 10:02am Sep 24, 2011 10:02am
watching
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  • #102,176
  • Sep 24, 2011 10:58am Sep 24, 2011 10:58am
Quoting aserbfx
broke through and closed below...
that looks sweet with the BEOB!

My chart looks different with the pattern , new to these markets myself

Mike
  • #102,177
  • Sep 24, 2011 11:03am Sep 24, 2011 11:03am
Quoting mbqb11
that looks sweet with the BEOB!

My chart looks different with the pattern , new to these markets myself

Mike
yes, maybe because you look at a future with a different maturity. this one here is dec 2011.
meine augen sind die sterne
  • #102,178
  • Sep 24, 2011 11:15am Sep 24, 2011 11:15am
Quoting aserbfx
yes, maybe because you look at a future with a different maturity. this one here is dec 2011.
Thanks M

mine is the dec contract as well, prob something silly that I am showing my newbieness to futures markets lol

i am just super picky about my patterns and TLs so the difference although slight is a huge factor for me

Mike
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  • #102,179
  • Sep 24, 2011 12:02pm Sep 24, 2011 12:02pm
Quoting NICK theF1SH
Hi, guys anyone watching Gold and would you consider shorting if it closes on a DBHLC on the monthly time frame.

Thanks

What broker do you use to trade gold? Is there a difference vs buying real gold to trading online?

tks
The more obstacles I overcome the better man I become.
  • #102,180
  • Sep 24, 2011 1:20pm Sep 24, 2011 1:20pm
I held great interest in the $30 level for silver a month or two back and never expected it this quickly....
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