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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

  • #105,961
  • Edited 5:56am Jan 17, 2012 5:44am | Edited 5:56am
Quoting Pokemon
Hello All,
I found Pin bar on GBP/USD M15.
Whats wrong with it? Is it incorrect pin bar?

Thanks!
Attachment
Just an incorrect location and time frame.

You should read post number 1 and J16's minimum requirements for this thread. Basically, M15 is just noise at a location like this, you need to learn on the weekly & Daily time frame PA. Not M15.

Apart from that, it did not qualify as a PB we normally look for, because the close was outside the eye of the previous bar, and never even broke.
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  • #105,962
  • Jan 17, 2012 5:52am Jan 17, 2012 5:52am
Quoting Pinbar
Just an incorrect location and time frame.

You should read post number 1 and J16's minimum requirements for this thread. Basically, M15 is just noise at a location like this, you need to learn on the weekly & Daily time frame PA. Not M15.

Apart from that, it did not qualify as a PB because the close was outside the eye of the previous bar, and never even broke.
Thank you very much, Pinbar!
  • #105,963
  • Jan 17, 2012 6:12am Jan 17, 2012 6:12am
Quoting Pokemon
Thank you very much, Pinbar!
You are welcome and welcome to the thread.

I was a bit heavy handed, in the post above, probably because I originally also started trading on M15 and know what a great disservice it did me, at that time.

You really need to watch PA on the weekly and daily time frames as, it behaves how it should more often. The lower time frames when we start out are too fast and there is too much noise.

Also, we only see a very small amount of data on our screens on the lower TFs.

Wishing you all the best.

This explains most setups

Also, people generally have a 10-15 pip buffer above or below a setup before they enter a daily TF trade.
Makes it less likely that it will go 5 pips beyond our entry and come back on us.
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  • #105,964
  • Jan 17, 2012 6:22am Jan 17, 2012 6:22am
Quoting Pinbar
Yeah Donkey.

Or a close above it and a pullback for a long.

We don't care which way it goes, as long as we are with it.
Very valuable thread here thanks a lot guys. I have question. Why is LCS on higher TFs so important?
  • #105,965
  • Jan 17, 2012 6:25am Jan 17, 2012 6:25am
Quoting Pinbar
You are welcome and welcome to the thread.

I was a bit heavy handed, in the post above, probably because I originally also started trading on M15 and know what a great disservice it did me, at that time.

You really need to watch PA on the weekly and daily time frames as, it behaves how it should more often. The lower time frames when we start out are too fast and there is too much noise.

Also, we only see a very small amount of data on our screens on the lower TFs.

Wishing you all the best.

This explains most setups

Also, people...
Thanks for the picture.
So its a pinbar, isn't it?
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  • #105,966
  • Jan 17, 2012 6:41am Jan 17, 2012 6:41am
Quoting Pinbar
You are welcome and welcome to the thread.

I was a bit heavy handed, in the post above, probably because I originally also started trading on M15 and know what a great disservice it did me, at that time.

You really need to watch PA on the weekly and daily time frames as, it behaves how it should more often. The lower time frames when we start out are too fast and there is too much noise.

Also, we only see a very small amount of data on our screens on the lower TFs.

Wishing you all the best.

This explains most setups

Also, people generally...

Pinbar, I read in one of the other threads related to PA. I got a similar attachment about PA bars.

About the IB, if the 3rd bar, i.e the bar after the inside bar , if it closes above the high of the first bar(bar before IB), then its bullish . if it closes below the low of first bar(before IB), then we are bearish.

Most charts i have studied seem to hold the above statement good, but sometimes it fails.

I would like to know your point of view on this statement.
  • #105,967
  • Jan 17, 2012 6:49am Jan 17, 2012 6:49am
Quoting zamfir
Pinbar, I read in one of the other threads related to PA. I got a similar attachment about PA bars.

About the IB, if the 3rd bar, i.e the bar after the inside bar , if it closes above the high of the first bar(bar before IB), then its bullish . if it closes below the low of first bar(before IB), then we are bearish.

Most charts i have studied seem to hold the above statement good, but sometimes it fails.

I would like to know your point of view on this statement.

Not sure about that.
My understanding of IBs is, if the bar closes bullish and breaks bullish it is better. Visa Vie for bearish.

I only ever play them when they have their back to the wall against a BRN or PPZ.
  • #105,968
  • Jan 17, 2012 7:14am Jan 17, 2012 7:14am
Quoting Pokemon
Thanks for the picture.
So its a pinbar, isn't it?
Attachment

Yes, but ideally, we want the close below the open, like this.
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  • #105,969
  • Jan 17, 2012 7:26am Jan 17, 2012 7:26am
Quoting Pinbar
Not sure about that.
My understanding of IBs is, if the bar closes bullish and breaks bullish it is better. Visa Vie for bearish.

I only ever play them when they have their back to the wall against a BRN or PPZ.
Well, looks like our understanding is more or less the same. The link your signature tells the same thing.

But yes. S/R again is most important before considering IB.
  • #105,970
  • Jan 17, 2012 7:34am Jan 17, 2012 7:34am
Quoting Pinbar
Yeah, nice consolidation and monthly double barrels.

I also think it can hit the 1.2800 area with this H4 DIV kicking in.
Not able to post chart from this computer, but what do you know 8 hours later that BUOB has hit 1.2808 (currently rejected). This stuff they teach us here really works, eh?

I "Almost" took it, but didn't like that it was in Asian session - maybe I'll catch the next one. Now to wait and see if wee can get back up to that 1.2900 weekly level.
  • #105,971
  • Jan 17, 2012 7:56am Jan 17, 2012 7:56am
Quoting Yehuda Sh
Hello to everyone

TL 75.75 look worth the long
But it's difficult for me to believe that he will continue up lot


Sorry for my bad English
Your instincts are good trust them

I had this blue line marked when the BUOB formed. It was an easy pass for me but a valid area to watch as we have spoken. WHy is this a pass? It's counter trend first of all and a very tiny bar. Price hits our FTA and is bouncing hard. I'd love to see us reject downwards if we could have gotten a nice little false breakout. Time will tell. Keep an eye on that daily chart

Best
Mike
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  • #105,972
  • Jan 17, 2012 8:06am Jan 17, 2012 8:06am
Watching for a breakout :
EURNZD
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  • #105,973
  • Jan 17, 2012 8:11am Jan 17, 2012 8:11am
pin bar small
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  • #105,974
  • Jan 17, 2012 8:39am Jan 17, 2012 8:39am
Spotted H1 swing low BUOB on edge of TL. Seems like it should be retracing to atleast 50% Fib/365 ema/hist resistance 1.02.
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  • #105,975
  • Jan 17, 2012 8:43am Jan 17, 2012 8:43am
Quoting mbqb11
Your instincts are good trust them

I had this blue line marked when the BUOB formed. It was an easy pass for me but a valid area to watch as we have spoken. WHy is this a pass? It's counter trend first of all and a very tiny bar. Price hits our FTA and is bouncing hard. I'd love to see us reject downwards if we could have gotten a nice little false breakout. Time will tell. Keep an eye on that daily chart

Best
Mike
I'm watching this one too. Would really like to see that Lower TL of the wedge broken at the intersection of BRN 75.00.
  • #105,976
  • Jan 17, 2012 8:48am Jan 17, 2012 8:48am
Quoting Donkey
Not able to post chart from this computer, but what do you know 8 hours later that BUOB has hit 1.2808 (currently rejected). This stuff they teach us here really works, eh?

I "Almost" took it, but didn't like that it was in Asian session - maybe I'll catch the next one. Now to wait and see if wee can get back up to that 1.2900 weekly level.

Yeah D.
These little things, help us little by little.


It is starting to fit together for me, for both of us, probably more for you, I think. We shall endure and make it my friend.
  • #105,977
  • Edited 9:07am Jan 17, 2012 8:56am | Edited 9:07am
This BEOB was interesting but, I did not like how it closed above the LCS area.

Going to watch how the daily closes.

EDIT: Hmmm, can I hear Jim saying; "A weekly close below, carries more weight than, a daily close above, even if we get one."
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  • #105,978
  • Jan 17, 2012 9:14am Jan 17, 2012 9:14am
Quoting Donkey
I'm watching this one too. Would really like to see that Lower TL of the wedge broken at the intersection of BRN 75.00.
it's exactly what we look for with the term confluence isn't it?



Mike
  • #105,979
  • Jan 17, 2012 9:25am Jan 17, 2012 9:25am
Quoting mbqb11
it's exactly what we look for with the term confluence isn't it?



Mike
Yeah, and a Mike 10 Ton box sitting on top of it would also be nice.
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  • #105,980
  • Jan 17, 2012 10:41am Jan 17, 2012 10:41am
Quoting Pinbar
Yeah, and a Mike 10 Ton box sitting on top of it would also be nice.
see the easy part is spotting the good areas right Pin?

the hard part is sitting on our hands. At least I think that's how it goes
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