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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

  • #109,281
  • Mar 24, 2012 10:39am Mar 24, 2012 10:39am
Quoting deankenny21
Im not saying the pairs are not going to go back up, but lets look at one fact we are facing with these 4hr pinbars, when did these pinbars occur, in probably the quietest time of trading friday evening, running into closing time with all players out the market and already having an early weekend, i never ever put any weight on pinbars after 5pm GMT Fridays.


Thank you dean. Yes that is very significant. Traders who were short may have closed out for the weekend.

Very much appreciated.
  • #109,282
  • Mar 24, 2012 11:33am Mar 24, 2012 11:33am
Quoting deankenny21
Im not saying the pairs are not going to go back up, but lets look at one fact we are facing with these 4hr pinbars, when did these pinbars occur, in probably the quietest time of trading friday evening, running into closing time with all players out the market and already having an early weekend, i never ever put any weight on pinbars after 5pm GMT Fridays.
Yep this sums up most of my opinion too Heeby. Fridays are notorious profit taking days. Ultimately we can follow the chart but even most of the pins are small or in a sideways market. That couple with time of occurrence(and now lack of momentum) makes it easy to pass. This is why intraday should be approached after daily/weekly requirements, some of these smaller things can get you.

Enjoy the weekend all
Mike
  • #109,283
  • Mar 24, 2012 3:15pm Mar 24, 2012 3:15pm
Quoting Ifmyante
Hedging is a very complex subject, and the best guy to refer to in this is, of course, Kenny Z.

I'll only be hedging it because I see lots of possible trouble on the way to my ultimate TG, and I don't want to see price come back too close to my entry without keeping my profits.

Hedging though is not something that can be done on a whim. If it's not planned and executed perfectly, it can strip your profits and cost you in the end.
Thank You. Perfect chart reading example. will go to check what teaches Kenny Z
all is eternal - this is good news for people who loves bad news
  • #109,284
  • Mar 24, 2012 9:29pm Mar 24, 2012 9:29pm
Quoting mbqb11
Yep this sums up most of my opinion too Heeby. Fridays are notorious profit taking days. Ultimately we can follow the chart but even most of the pins are small or in a sideways market. That couple with time of occurrence(and now lack of momentum) makes it easy to pass. This is why intraday should be approached after daily/weekly requirements, some of these smaller things can get you.

Enjoy the weekend all
Mike
Yep, the base system seems to be in agreement with another push up across the board.

Looks like a breather.
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  • #109,285
  • Mar 25, 2012 12:18am Mar 25, 2012 12:18am
Quoting Pinbar
Yep, the base system seems to be in agreement with another push up across the board.

Looks like a breather.
Pinbar, Can you please post ur round numbers indicator? mine draws the line across the whole chart.

Thanks,
  • #109,286
  • Mar 25, 2012 5:58am Mar 25, 2012 5:58am
go to his signature , and u will find there.
  • #109,287
  • Mar 25, 2012 9:35am Mar 25, 2012 9:35am
2001 Space Oddesy

My god, its full of stairs. LOL
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  • #109,288
  • Edited 10:27am Mar 25, 2012 10:08am | Edited 10:27am
Quoting Pinbar
Bet Jarroo has got his eye on this
Quoting jarroo
Here we are again, Pinbar . .


Daily / Weekly Bearish PA would be nice.

or

We could flip back to Support . .


Jim
Here we go Pinbar . . . .Daily Bearish PB . .with a bigger Monthly story.


Is it an A+ PB? No. Not at a deep swing High, in Consolidation. Limited Space. The Size is not bad . . . but the over all bigger story looks good.

It being in consolidation, this Daily PB has some work to do. The 1st previous bar high is key, getting through that and have it work with us . .as Resistance . .will help the cause . .

Also we may retrace up to the Daily HCR level . .we'll watch that as well.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #109,289
  • Mar 25, 2012 10:17am Mar 25, 2012 10:17am
Here's another Cad chart . .Mike and James16 helped me built this story . .
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Indicators show the past. Price Action "Indicates" the future.
  • #109,290
  • Mar 25, 2012 10:19am Mar 25, 2012 10:19am
Quoting geniusztc
hello,Pinbar and Jarroo .here is my view on ucad on daily chart .
even though price broke the down trend line ,1.0050 area is more important for bullish ,if it can not break 1.0050, bearish is still on its way .
It looks good to me, geniusztc . . . . .that's my Daily 3 Bar Low on my previous chart . .(1.0050)
Indicators show the past. Price Action "Indicates" the future.
  • #109,291
  • Mar 25, 2012 11:07am Mar 25, 2012 11:07am
Quoting jarroo
Here's another Cad chart . .Mike and James16 helped me built this story . .
Hi Jarroo!

Nice charts there and i know you are aware of it but i think we might see some more bullish PA around 0.994.
First time back to the breakout area and TL might result in more buying.

Cheers!
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  • #109,292
  • Mar 25, 2012 11:20am Mar 25, 2012 11:20am
Quoting Greenhaze
Hi Jarroo!

Nice charts there and i know you are aware of it but i think we might see some more bullish PA around 0.994.
First time back to the breakout area and TL might result in more buying.

Cheers!
Hey GH . .I think Mike had noticed that too . .What's so great about this area is that Price can go for nice run in either direction. From what I see right now its shows bearishiness . . . could be sellers picking up more sellers. .


Don't get me wrong . . ..I can easily be persuaded that we are going the other way at this level (area). . .Just watching the Close of Price . .
Indicators show the past. Price Action "Indicates" the future.
  • #109,293
  • Mar 25, 2012 6:48pm Mar 25, 2012 6:48pm
Quoting extremerrage
go to his signature , and u will find there.

lol how stupid am i? & i want to trade for living X_X
  • #109,294
  • Mar 25, 2012 8:11pm Mar 25, 2012 8:11pm
Quoting jarroo
Here's another Cad chart . .Mike and James16 helped me built this story . .

Hey Jim, thanks for the charts

I do not like this minor flip area at the 0.99500
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  • #109,295
  • Mar 25, 2012 8:19pm Mar 25, 2012 8:19pm
Quoting Pinbar
Hey Jim, thanks for the charts

I do not like this minor flip area at the 0.99500
nothing wrong with that, thats just the FTA where u move to BE at the least.
  • #109,296
  • Mar 25, 2012 8:31pm Mar 25, 2012 8:31pm
Quoting deankenny21
nothing wrong with that, thats just the FTA where u move to BE at the least.

That is exactly the point, this area is 10 pips below the low of the daily PB. It does not allow us a buffer and it is almost the high of the weekly BUEOB's previous bar high.

Are you going to take a short trade where the FTA does not allow even a 10 pip buffer, against a weekly BUEOB?
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  • #109,297
  • Mar 25, 2012 8:54pm Mar 25, 2012 8:54pm
Quoting Pinbar
That is exactly the point, this area is 10 pips below the low of the daily PB. It does not allow us a buffer and it is almost the high of the weekly BUEOB's previous bar high.

Are you going to take a short trade where the FTA does not allow even a 10 pip buffer, against a weekly BUEOB?
personally no, i require a minimum of 30 pips to FTA, but i know lurkers in here will take it that trade, so they need to reduce risk asap even if only 10 pips
  • #109,298
  • Mar 25, 2012 9:05pm Mar 25, 2012 9:05pm
I am looking at this with the base system which, I have been working for the last week, That daily PB is rather small compared to the previous bullish bar, we have a confirmed resistance area at the figure 2 zone.

The 6 has crossed the 25 ema and is sitting right at this confluenced level.
Buyers are watching this area and waiting for an opportunity to jump in as GH mentioned and Jim is fully aware of.
The above combined with that weekly BUEOB is hardly encouraging to take a short on the PB.

Jim himself has already stated that he would just a soon see it take off North.
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  • #109,299
  • Mar 25, 2012 9:06pm Mar 25, 2012 9:06pm
Quoting deankenny21
personally no, i require a minimum of 30 pips to FTA, but i know lurkers in here will take it that trade, so they need to reduce risk asap even if only 10 pips
So, what exactly were you suggesting?

Not being funny here DK, I am just interested in why you just gave two conflicting views on the same setup.
  • #109,300
  • Mar 25, 2012 9:33pm Mar 25, 2012 9:33pm
Quoting Pinbar
I am looking at this with the base system which, I have been working for the last week, That daily PB is rather small compared to the previous bullish bar, we have a confirmed resistance area at the figure 2 zone.

The 6 has crossed the 25 ema and is sitting right at this confluenced level.
Buyers are watching this area and waiting for an opportunity to jump in as GH mentioned and Jim is fully aware of.
The above combined with that weekly BUEOB is hardly encouraging to take a short on the PB.

Jim himself has already stated that he would just...
It sure is messy trading into consolidation, that's for sure . .many conflicting levels and methods. .an easy pass for the picky trader.

All I'm saying is that Monthly PBT&CB of the Monthly LCS level may override all over it . .powering through, so to speak.
Indicators show the past. Price Action "Indicates" the future.
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