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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

  • #104,761
  • Nov 26, 2011 2:38pm Nov 26, 2011 2:38pm
To add to what Mike said...

Only mark obvious PPZs. The PPZ you have on your chart does not stand out on the weekly timeframe (it probably stands out on the daily timeframe). 1.87 is the closest weekly PPZ I see on the upside. Interesting enough, there is likely to be 150 EMA confluence as well.

I posted a chart for reference.

Scott


Quoting TheFutureAce
Mike/Jarroo,

What do you guys think of the Weekly EURNZD setup? A nice Pin Bar with
1. Previous SR
2. 50% fib ret

What kind of setup is this A/A+/B?

Thanks,
Amar
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  • #104,762
  • Nov 26, 2011 3:06pm Nov 26, 2011 3:06pm
Quoting mbqb11
Hope this helps
Mike
Mike, thank you Sir. You are great.

Regards,
Joe
  • #104,763
  • Nov 26, 2011 6:01pm Nov 26, 2011 6:01pm
Quoting CathS
Hi Sixteen, whilst I am not pretending to know much about the J16 methodology yet, I would suggest that a concern would have been that the trend since the pinbar on 27 Oct .....................

I don't mean to sound harsh, this sort of thing is etched in my brain from experience, having acted (too many times!) on specific "rules" without looking at the big picture too.
.....................

Good luck, keep learning (you are in the right place for that!)
Hi CathS,
Each and every word you wrote made a perfect sense to me. I don't mind losing money in market as long as that loss teaches me a lesson. Well, I learn't a lesson this time with a loss. I will carefully look for retest before entering.
Once again, thanks so much.
  • #104,764
  • Nov 26, 2011 6:03pm Nov 26, 2011 6:03pm
Quoting mbqb11
Nope you are doing just great Cath

Simply put this bar size was way to small. When you are starting the best thing to do is look for those BIG bars that jump out. Over time when you can tag down location and stories better you can begin to venture away. At least in my belief is a good starting place. In this case price simply pauses causing a small pinbar. This could be slight profit taking, weak selling etc. But with such a clear trend as C said you are trying to swim up river without a paddle

Best
Mike
Hello Mike,
Thanks for adding another vista to the story. The pinbar's length was definitely far too small. Yes, it is more of a price taking a breath before it continues. Your perspective was very helpful
Thanks so much,
16
  • #104,765
  • Nov 26, 2011 9:02pm Nov 26, 2011 9:02pm
Quoting sixteencorp
Hi CathS,
Each and every word you wrote made a perfect sense to me. I don't mind losing money in market as long as that loss teaches me a lesson. Well, I learn't a lesson this time with a loss. I will carefully look for retest before entering.
Once again, thanks so much.

I take it that the "loss" was on a demo account and not real money?
  • #104,766
  • Nov 26, 2011 9:54pm Nov 26, 2011 9:54pm
Quoting Pinbar
I take it that the "loss" was on a demo account and not real money?
Well, it was on real money, but just 4 $. I trade with Oanda, so can take small positions.
  • #104,767
  • Nov 27, 2011 5:44am Nov 27, 2011 5:44am
I found this and thought it would be useful for some essential PA revision.
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  • #104,768
  • Nov 27, 2011 6:36am Nov 27, 2011 6:36am
Quoting Tyoon
I found this and thought it would be useful for some essential PA revision.
I'm liking the Polish terminology
  • #104,769
  • Nov 27, 2011 6:53am Nov 27, 2011 6:53am
Quoting mbqb11
Hey Joe

There are always going to be times when price ignores areas. That's just natural in a marketplace where you have tons of people making decisions for multiple reasons. BUT at the end of the day short term flow and longer term flow does have a rhyme to the reason so there is an edge to be gained. So for me as a trader I don't need to worry about anything other then finding repeatable and exploitable patterns and areas in the market place. What happens in between that, or from trade to trade is not as important and what I do in the long run....
Mark this, trading is not only a technical thing.
----------------------------- Discipline makes the difference.
  • #104,770
  • Nov 27, 2011 9:09am Nov 27, 2011 9:09am
Quoting Tyoon
It's 4H, but it's still a pin. Anyone trading it?
Hello Tyon

I am not that bulish right now in this pair.

Price broke a tl on daily tf, there is a small daily bearish pinbar on nov 22, price retested the low of that pin and respected it, and you also have the daily 365 & 180 MA very close.

IMHO you have to manage tight that trade.

Best wishes

Hector
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  • #104,771
  • Nov 27, 2011 9:20am Nov 27, 2011 9:20am
Quoting mbqb11
nice brotha, I am at breakeven now but think we are in line for a lot more/ But you know how it goes, things can change quick so gotta stand at attention as always


parity is the major level for me


Best
Mike
Hello Donkey, Mike

Lets see if some of us can be with you on that bus. Price is behaving well on daily, broke previous high @ 1,9250 and daily 365 ema. If I see some bulish PA, I will join you for the ride (at least for a short period of time, lol).

Best wishes

Hector

PD: Well, maybe for a really short period of time, just saw the 50% fib retracement @ 0,94, lets see what PA tells us to do, lol
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  • #104,772
  • Nov 27, 2011 1:41pm Nov 27, 2011 1:41pm
Hi,

Anyone playing EURGBP weekly pinbar? Would like to hear your thoughts

Thanks
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  • #104,773
  • Nov 27, 2011 1:58pm Nov 27, 2011 1:58pm
First, the pinbar itself looks great.

Second, the location of the pinbar is not so good. It is at a PPZ, however, there is no S/R confluence. Also, the FTA is the 0.8525 area which is just under the pinbar.

Scott

Quoting smad
Hi,

Anyone playing EURGBP weekly pinbar? Would like to hear your thoughts

Thanks
  • #104,774
  • Nov 27, 2011 3:48pm Nov 27, 2011 3:48pm
Quoting smad
Hi,

Anyone playing EURGBP weekly pinbar? Would like to hear your thoughts

Thanks
Ideally you would want it to be more at a swing low and the other way around. At the moment the pin bar it telling us that it had hit October's support becoming our November's resistance.
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  • #104,775
  • Nov 27, 2011 7:17pm Nov 27, 2011 7:17pm
Quoting Tyoon
Ideally you would want it to be more at a swing low and the other way around. At the moment the pin bar it telling us that it had hit October's support becoming our November's resistance.

He's talking about the last bar which, we want to see at a swing High not a swing low.
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  • #104,776
  • Nov 27, 2011 8:11pm Nov 27, 2011 8:11pm
hi Mike,
I see several PB forming on the wkly in my charts. Can u pls give your comments on what you think of the quality of the PB or setup? Thanks!
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  • #104,777
  • Nov 27, 2011 9:30pm Nov 27, 2011 9:30pm
Quoting Fx7877
hi Mike,
I see several PB forming on the wkly in my charts. Can u pls give your comments on what you think of the quality of the PB or setup? Thanks!
Hello Sir Fx7877,
if i may chime in...

correct me if im wrong.. this Oanda weekly charts havent fully formed. i believe they still have almost 2hours before these weekly candles fully form.

your first 3 charts show 'bullish' Pinbars. ideally, bullish pinbars have their close higher than the open. this is not the case on those 3 charts.

on your 4th & 5th charts, u asked a question. Yes, these pinbars (actually all the pinbars u pointed out) are relatively VERY small. but know that size doesnt always give a guarantee, but Size is 1 factor we look into (what i mean is small pinbars sometimes succeed & sometimes big pinbars fail).

all the pinbars are not in their best locations.

u might wanna wait for the weekly candles to close before u make more solid analyses. alternatively, if u are comfortable, u can scan weekly charts of other brokers (those with weekly candles already fully formed)

just my view, so hope this helps
  • #104,778
  • Nov 27, 2011 9:48pm Nov 27, 2011 9:48pm
Quoting supremeChaos
Hello Sir Fx7877,
if i may chime in...

correct me if im wrong.. this Oanda weekly charts havent fully formed. i believe they still have almost 2hours before these weekly candles fully form.

your first 3 charts show 'bullish' Pinbars. ideally, bullish pinbars have their close higher than the open. this is not the case on those 3 charts.

on your 4th & 5th charts, u asked a question. Yes, these pinbars (actually all the pinbars u pointed out) are relatively VERY small. but know that size doesnt always give a guarantee, but Size...
Thanks SC, good to see you bud

Yep these (if closed) would all be very small to me, in a lot of traffic, or weak closes.

None have that stand out factor and look more like bounces then any significant buying or selling

Best
Mike
  • #104,779
  • Nov 28, 2011 2:31am Nov 28, 2011 2:31am
Quoting Pinbar
He's talking about the last bar which, we want to see at a swing High not a swing low.
I agree, that is why I said the pin bar had to be 'the other way around'. Right now it is at a swing low, looking like a swing high bar.
  • #104,780
  • Nov 28, 2011 3:13am Nov 28, 2011 3:13am
Hey guys ,
a lot of gaps we have here Are you interested in them ?
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