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james16 Chart Thread

Quoting Pinbar
See, currently we have a PB type pattern forming on this daily bar, which has Yet to close. But, I am sure you can see what I meant by the last reply when I said that, there was some serious support beneath this bar. The rule of thumb is, we want to be taking PA away from these strong areas of support, not into them.

This is not a trade recommendation, especially as there is no Space to the FTA if this current bar closes just above the open.

Hope this helps.
I am not sure if I understand well. So you say I should not have taken this trade, because there was too little space under the BEOB pattern? The support from weekly graph (you posted above) was too close?
Well finally got my internet back up and running. The last half of my EURAUD trade from last week was managed to +50. So now I can actually start looking for new trades again.
AUDJPY is stalling, but still at the 23.6 retrace of yesterday's candle..

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If we combine last two daily bars, isn't it a 2 day bearish pin bar on AUDUSD? Anyway went short because of one my mechanical systems. Wondering If my price action reading is right or not.
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Does the paid section of the James16 group offer training on options and futures also or is it only geared toward Forex?
Quoting charger
Does the paid section of the James16 group offer training on options and futures also or is it only geared toward Forex?
Hey Charger

The nice thing about PA/SR is that it can be applied to all markets, many of us trade much more then FX for more opportunities

Take care
Mike
Quoting Cricketer
If we combine last two daily bars, isn't it a 2 day bearish pin bar on AUDUSD? Anyway went short because of one my mechanical systems. Wondering If my price action reading is right or not.
Hey Cricketer

Yep you are correct that could be looked at as a 2 day pinbar

Best
Mike
Back to scanning the charts for possible trades tonight no I've got my new net connection up and running.

Taking a look at the $CAD on the daily at the moment. I had previously taken a couple of short trades on this last week, which overall were counter trend moves. But, I'm now seeing some bullish potential on the charts.

Seeing a BUOB at a fib confluence area. In between RN's. A 50% retrace of the BUOB is now on the table also. I've highlighted 2 PPZ zones that I can see off my daily chart. Possible longer term target areas as price is in between the two zones at the moment.

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What do you think?
I shorted the AUD/JPY based on the 2-day PB or Bearish Engulfing Bar on the break of the bar with a SL @ 15 pips above the high. I hope I wasn't wrong!
Quoting mbqb11
Hey Cricketer

Yep you are correct that could be looked at as a 2 day pinbar

Best
Mike
Thx mike for clearing that for me. I was short during Asian session and bagged a handsome 100... then... went in on the retracement and took a hit just now.
Quoting rd122481
I shorted the AUD/JPY based on the 2-day PB or Bearish Engulfing Bar on the break of the bar with a SL @ 15 pips above the high. I hope I wasn't wrong!
there should be a "like" button beside posts like facebook :-)
Quoting Cricketer
there should be a "like" button beside posts like facebook :-)
You like this.

Quoting mbqb11
Hey Charger

The nice thing about PA/SR is that it can be applied to all markets, many of us trade much more then FX for more opportunities

Take care
Mike
Agreed.

Example: IBM, Double high, lower close then comes the sell off. And look at all those bullish Pin Bars leading up to it!
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Lot of dodgy bars...indecision..staying out
Trading is a test match not a Twenty20.
Quoting 5.25
Agreed.

Example: IBM, Double high, lower close then comes the sell off. And look at all those bullish Pin Bars leading up to it!
Heres' one for Jarroo:

Adecco. Price breaks through, closes above, retests former support, now turned resistance. Price action.

Where is this heading? To the moon?
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Quoting 5.25
Agreed.

Example: IBM, Double high, lower close then comes the sell off. And look at all those bullish Pin Bars leading up to it!
is this the BUOB tip off out?
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Here is my first attempt at posting a BEOB.

I am looking at the Daily EURUAD.Still waiting on the daily to close which is in about 2 hrs(according to my broker).

It might close below the BRN 1.3400 and our FTA is "around" 1.3250.

Comments pour fa vour...
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Quoting nikim
Here is my first attempt at posting a BEOB.

I am looking at the Daily EURUAD.Still waiting on the daily to close which is in about 2 hrs(according to my broker).

It might close below the BRN 1.3400 and our FTA is "around" 1.3250.

Comments pour fa vour...
Hey Nik

Remember we want to look for these bars at swing highs. Especially when new to them. This is at a deep swing low. These are much trickier in the beginning. Look for them at nice clear swing highs as James shows

Best
Mike
Quoting darxtar
I am not sure if I understand well. So you say I should not have taken this trade, because there was too little space under the BEOB pattern? The support from weekly graph (you posted above) was too close?
No, I am not saying you should not have taken it, neither am I saying you should have taken it.

All, I am saying is, that if we take a PA setup going into a strong PPZ area, we should not put our hands together and pray, it goes back in our direction, when it comes back on us after hitting the PPZ. We should know it is a PPZ before we take the trade and fully expect it to reverse on us, once it gets to the trouble area. I think you knew that and went to BE.
Understood Mike, but the chart that I have, is that a tradeable setup?

Not that I will trade it as it is out of my class but what would you look for if you were to take that trade.

Just trying to understand the thought process.


Quoting mbqb11
Hey Nik

Remember we want to look for these bars at swing highs. Especially when new to them. This is at a deep swing low. These are much trickier in the beginning. Look for them at nice clear swing highs as James shows

Best
Mike
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