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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

  • #104,961
  • Dec 6, 2011 10:00am Dec 6, 2011 10:00am
Quoting Pinbar
Try zooming out to two clicks above the smallest chart size.

It came off a nice area with all that consolidation boxed up on the left, but the size of it compared to the previous bullish bars I have put blue boxes around, does not look good.

MT4 tends to distort bar size when zooming in too much.
Hi Pinbar,

Just wondering, why is small bar not advisable to take for a pinbar?

Caesar
"Nature's law" is called "Reason". When perfectly understood by human it is
  • #104,962
  • Dec 6, 2011 10:48am Dec 6, 2011 10:48am
Quoting mbqb11
Hey Rockie

Although I have no idea about anything of the above. I'll leave you with a statement to live by

if it seems to good, it probably is .

These are the types of things that keep new traders on the wrong path. Instead of understanding and having more realistic expectations based on the method we use. But if it is, then I guess he will have all the wealth in the world in a few short weeks and we'll have a new financial crisis on our hands

Don't let that kind of stuff distract you

Take care
Mike
I'm not distracted at all by this, i thought it was iteresting.
Did not mean to clog the thred with nonsence.
Rock
  • #104,963
  • Dec 6, 2011 11:40am Dec 6, 2011 11:40am
I think GBP/USD is my unlucky pair ... and im gona start to avoid trading it ! This is like the 3-4th time some thing like this happen to me on this pair and this pair only

I had entry order below that PB on 4h because i saw another rejection by 150ema and liked the Daily picture IB a few days back , Fibo , BRN ,Ema and so on ....
So the entry order was trigered and it slowly moved in my faw ... so this morning before i went out i looked at the SL and moved it a bit closer just in case but i guess i didnt give it enoug atention and put it a bit to low

4h and 5min chart so you can see that it took me out for like 2 pips lol
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GbpUsd5.JPG Size: 86 KB
  • #104,964
  • Dec 6, 2011 11:52am Dec 6, 2011 11:52am
Quoting Rockie
I'm not distracted at all by this, i thought it was iteresting.
Did not mean to clog the thred with nonsence.
Rock
Hey Rock

Not nonsense at all, just a good time to remind the new faces that are peeking in and seeing that. I can guarantee someone saw your post and went running to figure out how they can do the same. It's always good to have these types of reminders come along to keep us all on track



Best
Mike
  • #104,965
  • Dec 6, 2011 12:07pm Dec 6, 2011 12:07pm
Hi,

First post on this thread but have read the first couple of hundred pages....or was that posts.

What are your guys thoughts on this:

¨There is one recognized Reversal Pattern which appears and is com-
pleted within a single day’s trading, and is, in consequence, named the
“One-Day Reversal.” There are times when it has great significance as calling
a halt, at least temporarily, to any up or down move, but in its ordinary
manifestations it does not imply much of an immediate move in the opposite
direction. It is a useful pattern and we shall have more to say about it later.
But the price formations from which extensive new trends proceed take time
to build. One does not bring instantly to a stop a heavy car moving at 70 miles
an hour and, all within the same split second, turn it around and get it
moving back down the road in the opposite direction at 70 miles an hour.¨

- Page 57, Technical Analysis of Stock Trends, J Macgee
  • #104,966
  • Dec 6, 2011 12:11pm Dec 6, 2011 12:11pm
I take it to mean trade pin bars taking into consideration the bigger picture.
  • #104,967
  • Dec 6, 2011 12:31pm Dec 6, 2011 12:31pm
Quoting Chinadiapers
I take it to mean trade pin bars taking into consideration the bigger picture.
Hey Chinadiapers

Yep I would agree. A bar alone without the context of where and what is going on around that bar is not enough. We want to use all the different pieces to string together a conclusion.

Sometimes one single bar can and often will reverse a trend. Other times not. It's all about the story we can create with the different trading tools to formulate a trade plane

Welcome to the thread
Mike
  • #104,968
  • Dec 6, 2011 12:32pm Dec 6, 2011 12:32pm
yes,its Dec. 7 here,

Happy Birthday Mr. FUDD

Wish you many more years to come..

Pizzas and beers!!



  • #104,969
  • Dec 6, 2011 12:45pm Dec 6, 2011 12:45pm
Quoting AvanishDemo
yes,its Dec. 7 here,

Happy Birthday Mr. FUDD

Wish you many more years to come..

Pizzas and beers!!



haha thanks bud

but its not my bday yet, let me stay young forever!
  • #104,970
  • Dec 6, 2011 2:28pm Dec 6, 2011 2:28pm
WoW its realy Mikes birth day !

Happy birth day Mike !!! May all your wishes come true ...have a great one !

My best friend has a bday this friday ... so i will defently drink one for you allso !!!
  • #104,971
  • Dec 6, 2011 5:04pm Dec 6, 2011 5:04pm
Happy birthday Mike !
Wish you all the happiness in the world !
And always to be such a cool guy

(for those of us who are several hours ahead , it's 7th already )
  • #104,972
  • Dec 6, 2011 5:32pm Dec 6, 2011 5:32pm
Happy bday Mike! Have a great one!
  • #104,973
  • Dec 6, 2011 5:48pm Dec 6, 2011 5:48pm
Quoting mbqb11
...

but its not my bday yet, let me stay young forever!
Let me guess;
Celebrating the 29th Anniversay of your 19th Birthday?

Anyhoo...
Hap to You Mike.

B
  • #104,974
  • Dec 6, 2011 6:23pm Dec 6, 2011 6:23pm
Happy Birthday Mike
  • #104,975
  • Dec 6, 2011 7:23pm Dec 6, 2011 7:23pm
Quoting 786 trading
Here is chart, possible pin bar for short entry.
Dear 786,

If you took this trade, both your entry and FTA were very accurate.
Congratulations.

However, my question is: why did you ignore 11/24 high (1.3411), 11/28 high (1.3398) and, mainly, 11/29 high (1.3441), which could mean a FTA at those levels?

Take a look at the attached chart. This would be my (wrong) FTA.

Thanks, in advance.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-h4-120611.gif Size: 28 KB
Chasing Livermore...
  • #104,976
  • Dec 6, 2011 7:26pm Dec 6, 2011 7:26pm
Congrats on 7000 pages to James and the gang. Wishing a wonderful holiday season to all of you!
Price is beautiful. A repetitive method is a competitive method.
  • #104,977
  • Dec 6, 2011 8:09pm Dec 6, 2011 8:09pm
Quoting Bemac
Let me guess;
Celebrating the 29th Anniversay of your 19th Birthday?

Anyhoo...
Hap to You Mike.

B
28th! easy

Thanks all
  • #104,978
  • Dec 6, 2011 8:28pm Dec 6, 2011 8:28pm
Mike,
Happy Birthday! May great profits continue to roll in for u in the year ahead
Quoting mbqb11
28th! easy

Thanks all
  • #104,979
  • Dec 6, 2011 8:36pm Dec 6, 2011 8:36pm
Quoting Caesar95
Hi Pinbar,

Just wondering, why is small bar not advisable to take for a pinbar?

Caesar

Well, on the cad/jpy pair, we now have a BEOB after that small PB broke for 25 pips, then reversed. Small PBs are playable but the location needs to be much better than this one. We can see the previous bullish bars were much bigger than that tiny PB.

It really has to do with order flow and a small PB has less order flow going on around it, hence a reversal is more likely, especially right above a PPZ like this one is.
Attached Image (click to enlarge)
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  • #104,980
  • Dec 6, 2011 8:41pm Dec 6, 2011 8:41pm
Happy birthday Mike.

Get something nice?
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