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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

  • #102,601
  • Oct 4, 2011 4:28pm Oct 4, 2011 4:28pm
nice pin bars on AUDUSD and USDCAD daily.

both pin bar's nose touched a strong known pivot level.

let's see how they move. i have an idea of where they're aiming to
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  • #102,602
  • Oct 4, 2011 4:38pm Oct 4, 2011 4:38pm
Quoting mbqb11
Hey SCR

Be careful here that bar is not a pinbar. Notice the lower wick is much larger then the upper wick. FOr a pinbar we would want a large nose protruding to the top with the open and close within the previous bar. That bar is a neutral bar which shows more indecision in the market place then does a reversal.

Here are some examples of pinbars

http://www.forexfactory.com/showthre...49#post2752349
http://www.forexfactory.com/showthre...53#post3582153
http://www.forexfactory.com/showthre...75#post3429475
http://www.forexfactory.com/showthre...41#post2913741
http://www.forexfactory.com/showthre...34#post2647834

as...
Yes it helps a lot. Thanks Mike. I'll be more patient to wait for the next daily signal.
  • #102,603
  • Oct 4, 2011 4:42pm Oct 4, 2011 4:42pm
Got a decision to make on the AUDCAD PB that was highlighted earlier. I'm in the UK, so it's fast approaching bedtime, in fact I type this from the comfort of my memory foam

The PB I was watching turned into more of a hammer/pin bar, so I'd say the bar formation was an A- one, but I really like the location it's formed at. I'm left with the options of either placing an order now for entry through the high, going to bed and seeing if it's triggered in the morning, or waiting till morning, and seeing where price is at in relation to the entry.
  • #102,604
  • Oct 4, 2011 5:53pm Oct 4, 2011 5:53pm
Quoting R3ta
nice pin bars on AUDUSD and USDCAD daily.

both pin bar's nose touched a strong known pivot level.

let's see how they move. i have an idea of where they're aiming to
nice pin bar but i'm waiting for the nice entry set up .....0.948xx

cheers
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  • #102,605
  • Oct 4, 2011 7:18pm Oct 4, 2011 7:18pm
eur/usd pinbar swing top with very clear FTA for TP
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  • #102,606
  • Oct 4, 2011 8:18pm Oct 4, 2011 8:18pm
Morning Jim
Hope all is well.

If you have any time, could I ask about the trigger?

I have posted the charts starting with the weekly HCR which price broke through on the daily, yesterday.
I am going down the TFs to look for the possible trigger and am wondering if this small BUEOB on H1 would have been the trigger in this situation or, are we still waiting for price to come back after getting rejected at the Resistance area above?

I know you are very busy so, no rush.

PS: I am still working on the mentioned subject in the PM.


Thanks in advance
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  • #102,607
  • Oct 4, 2011 8:31pm Oct 4, 2011 8:31pm
Quoting R3ta
nice pin bars on AUDUSD and USDCAD daily.

both pin bar's nose touched a strong known pivot level.

let's see how they move. i have an idea of where they're aiming to
My thoughts on AUDUSD...I just don't see a ton of confluence other than the BRN on this one. The long wicks immediately to the left would be my FTA. Zooming out this one looks rather small compared to the sharp drop. It feels more like a pause to me before falling further down. I could be wrong, but this is how I saw this one.
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  • #102,608
  • Oct 4, 2011 8:43pm Oct 4, 2011 8:43pm
Quoting Donkey
My thoughts on AUDUSD...I just don't see a ton of confluence other than the BRN on this one. The long wicks immediately to the left would be my FTA. Zooming out this one looks rather small compared to the sharp drop. It feels more like a pause to me before falling further down. I could be wrong, but this is how I saw this one.
You are right. They both seem to be taking break before continuing their journey.

from the looks point of view, USDCAD looks better but it is going into BRN 1.05.

Hence Pass and waiting for the next opportunity.
  • #102,609
  • Oct 4, 2011 9:01pm Oct 4, 2011 9:01pm
EUR/NZD looks like it may well be worth sitting on our hands a bit longer.
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  • #102,610
  • Oct 4, 2011 9:09pm Oct 4, 2011 9:09pm
On my broker, the pinbar also failed to close above 9550 which IMO is a PPZ.
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  • #102,611
  • Oct 4, 2011 9:42pm Oct 4, 2011 9:42pm
Quite a few PB today:

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Of which I think only USDCAD is worth taking on the break of 1.05. Its at a swing high and a bounce off 1.0600. IMO an entry of 1.0495 15 pips below the low of the PB would be good aiming 1.0420 and 1.0360.
  • #102,612
  • Edited 10:02pm Oct 4, 2011 9:47pm | Edited 10:02pm
Quoting TransPorter
On my broker, the pinbar also failed to close above 9550 which IMO is a PPZ.

Here is MHO on it and like you, I also am not too crazy about it.
Main reasons are, the strong DT, the shape of the bar & the daily close below the Monthly PPZ.
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  • #102,613
  • Oct 4, 2011 10:10pm Oct 4, 2011 10:10pm
Quoting Pinbar
Here is MHO on it and like you, I also am not too crazy about it.
Main reasons are, the strong DT, the shape of the bar & the daily close below the Monthly PPZ.
Nice to see a Monthly Perspective Pin!!
  • #102,614
  • Oct 4, 2011 10:13pm Oct 4, 2011 10:13pm
Quoting Pinbar
Here is MHO on it and like you, I also am not too crazy about it.
Main reasons are, the strong DT, the shape of the bar & the daily close below the Monthly PPZ.
how are you taking the trade? The break of 0.9600?
  • #102,615
  • Oct 4, 2011 10:25pm Oct 4, 2011 10:25pm
here's my perspective on aud/usd. because of the nature of the situation, i entered at retracement of the PB at the level of the left eye
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  • #102,616
  • Oct 4, 2011 10:32pm Oct 4, 2011 10:32pm
EUR/AUD has got my attention.

Having problems uploading images.
  • #102,617
  • Oct 4, 2011 10:38pm Oct 4, 2011 10:38pm
Quoting Pinbar
EUR/AUD has got my attention.
What's your take on this? I'm interested in this retesting the 1.39 area that it broke above in the H4 chart.
  • #102,618
  • Edited Oct 5, 2011 12:14am Oct 4, 2011 11:16pm | Edited Oct 5, 2011 12:14am
Quoting biDc
What's your take on this? I'm interested in this retesting the 1.39 area that it broke above in the H4 chart.

I was looking at the 1.38782 area. Check out this area on the weekly TF.

Sorry, I could not push the attachments button to upload images and then, I could not see the submit button & I was getting the FF Server overload errors.

Now, I can see the buttons but the upload times out, over and over again.


AT LAST!
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  • #102,619
  • Edited 11:58pm Oct 4, 2011 11:45pm | Edited 11:58pm
Hello all!
I'm new here (as you can see). Well, I have some experience trading forex with mechanical systems. But I am a price action virgin (pun intended?).

So anyway this is my first chart that I want to share. I see there is a pinbar on USD/CAD and the low is touching 2nd october's high. So If I put a sell stop order at the break, wouldn't it be trading in to the traffic (yes I read the thread for sometimes now :-).

So, what do you guys think? Would you take these types of PA?
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  • #102,620
  • Oct 5, 2011 12:16am Oct 5, 2011 12:16am
Quoting fascist
how are you taking the trade? The break of 0.9600?
I won't be, I don't like trading into a monthly PPZ.

If it breaks out and pulls back above the monthly PPZ, I shall look for bullish PA there.
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