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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

  • #109,861
  • Apr 5, 2012 5:18am Apr 5, 2012 5:18am
watch EURCHF . this thing is awakening...
all is eternal - this is good news for people who loves bad news
  • #109,862
  • Apr 5, 2012 5:20am Apr 5, 2012 5:20am
Quoting Quezoy
Oh well, a loss again.
Anyone willing to comment my analisys?


After a pinbar on the 1.59 RN to which price reacted in the past, I've decided to go for a long.
The issue I see with this trade is:
1. Not puting my entry above the high of the pin. In that case, my order would not have been triggered.
2. This downmove is the result of a doji + following strong bull candle from a level, where there is confluence of BRN 1.6 and weekly TL. So we can judge this is pretty strong.
Trading against it, even for a small retracement is not appropriate....
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IMHO on the weekly chart BEOB can turn out....
  • #109,863
  • Apr 5, 2012 5:20am Apr 5, 2012 5:20am
Quoting Magestic
Finally it worked. Entered on a break of an 1H pinbar. Thanks to everyone who did discussed this setup forming.
Attached Image


Different entry method for me but same outcome

Question - are you clear as to why your 1h pinbar was good to take?
  • #109,864
  • Apr 5, 2012 5:21am Apr 5, 2012 5:21am
Quoting meshka
watch EURCHF . this thing is awakening...
nice... it's the dullest pair in forex!!
  • #109,865
  • Apr 5, 2012 5:22am Apr 5, 2012 5:22am
Quoting beebolbod
I can say it's not quite a pinbar. That didn't help. the close must be inside the previous bar and this one barely made it, indicating it's weakness.
Oh... this information is new to me. Kindda missed it it seems
Quoting beebolbod
It's also at a swing high and we want these down low.
Can u elaborate a bit cause I do not understand what u mean.
Thoughts are things
  • #109,866
  • Apr 5, 2012 5:25am Apr 5, 2012 5:25am
Quoting Quezoy
Oh well, a loss again.
Anyone willing to comment my analisys?


After a pinbar on the 1.59 RN to which price reacted in the past, I've decided to go for a long.
The issue I see with this trade is:
1. Not puting my entry above the high of the pin. In that case, my order would not have been triggered.
2. This downmove is the result of a doji + following strong bull candle from a level, where there is confluence of BRN 1.6 and weekly TL. So we can judge this is pretty strong.
Trading against it, even for a small retracement is not appropriate....
Quick and easy answer for you
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  • #109,867
  • Apr 5, 2012 5:26am Apr 5, 2012 5:26am
Quoting Brixton
Taking a short on EUR/JPY - Price has just broken below the confluence around the 50fib. Also got a bearish inside bar BO in that box.
Moving down!
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  • #109,868
  • Apr 5, 2012 5:26am Apr 5, 2012 5:26am
Quoting duckulapip
Hi Pinbar

Sorry to revisit this again but i've been looking at the past weeks posts in the thread as part of my study

In your pic you mention that the PPZ is in the middle of 2 consolidation boxes. the first box is clear, from April to July (with 1.04 as the PPZ) but for the second box, are you refering to the large consolidation from July to Nov? Because the pic shows 2 smaller greyed boxes with no PPZ (1.04) running through them (unless you were refering to 1.03 as a ppz for the 2 smaller boxes)

With that in mind, as i am still quite weak...

The EMAs are like large slow moving pivots.
If the EMAs line up with a PPZ in an area where we have multiple bar highs & lows, price flips and consolidation. The effect of the EMAs are going to be stronger. So, in other words we want to see if price breaks through and area like this, if it will hold as either, support or resistance, depending on whether the break was below or above an EMA.

In the second chart you can see price breaking through this area, pulling back, then taking off.


Hope this helps.
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  • #109,869
  • Apr 5, 2012 5:27am Apr 5, 2012 5:27am
Quoting Pinbar
Watch out for the 1623.50
Hmm, the way I see monthly LCS is 1563, december's close, which broke 1623,50. I'm new and inexperienced here, so would be very interesting to know why it's still 1623,50? Once a level is broken, and is not "reconfirmed" as new support / resistance, I would assume it looses it's significance?
  • #109,870
  • Apr 5, 2012 5:28am Apr 5, 2012 5:28am
Quoting Quezoy
Oh well, a loss again.
Anyone willing to comment my analisys?


After a pinbar on the 1.59 RN to which price reacted in the past, I've decided to go for a long.
The issue I see with this trade is:
1. Not puting my entry above the high of the pin. In that case, my order would not have been triggered.
2. This downmove is the result of a doji + following strong bull candle from a level, where there is confluence of BRN 1.6 and weekly TL. So we can judge this is pretty strong.
Trading against it, even for a small retracement is not appropriate.
just zoom out before trading anything. check weekly price locations. see how this pin bar is almost at top of range box. it is fake one - You must skip those... wait for PA at box top - will it brake or retrace back to range. GBPUSD is boxed like anything in these days ... see Mike charts. dont trade breakout before it happens - it is casino play almost everytime.
all is eternal - this is good news for people who loves bad news
  • #109,871
  • Apr 5, 2012 5:30am Apr 5, 2012 5:30am
Quoting beebolbod
nice... it's the dullest pair in forex!!
It has a it's own character
I played the weekly pinbar in the summer Worked pretty well
  • #109,872
  • Edited 5:47am Apr 5, 2012 5:36am | Edited 5:47am
Quoting mrv
Hmm, the way I see monthly LCS is 1563, december's close, which broke 1623,50. I'm new and inexperienced here, so would be very interesting to know why it's still 1623,50? Once a level is broken, and is not "reconfirmed" as new support / resistance, I would assume it looses it's significance?


These are Zones, they are not pip perfect, & there is a gap between the monthly close and the open of the next bar.

Note how in this case, Jim will use both the close and the open.


Look at 1619.95 on the white chart.
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  • #109,873
  • Apr 5, 2012 5:36am Apr 5, 2012 5:36am
Quoting Rust
It has a it's own character
I played the weekly pinbar in the summer Worked pretty well
hehe, that's a monster indeed. The entire J16 group had a little party after that one i guess!
  • #109,874
  • Apr 5, 2012 5:41am Apr 5, 2012 5:41am
and where was Your stoploss Rust ? such 1000 pip pin I think happens few time per lifetime
all is eternal - this is good news for people who loves bad news
  • #109,875
  • Apr 5, 2012 5:49am Apr 5, 2012 5:49am
Quoting meshka
and where was Your stoploss Rust ? such 1000 pip pin I think happens few time per lifetime
The back of the pin
Yeah , this one as long usdchf i was holding for months
  • #109,876
  • Apr 5, 2012 6:10am Apr 5, 2012 6:10am
Yeeeah... You and Mike must print those EURCHF and USDCHF charts with those trades, put to golden frame and pose for a photoshot with it like those hunters when they shot big lion in Africa...
when I look at this pin it looks like we can see 1.4500 or something.
all is eternal - this is good news for people who loves bad news
  • #109,877
  • Apr 5, 2012 6:12am Apr 5, 2012 6:12am
my dream of beast..
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all is eternal - this is good news for people who loves bad news
  • #109,878
  • Apr 5, 2012 6:18am Apr 5, 2012 6:18am
What do people think about the 1hr pinbar on UsdChf? It seems to be hitting a level of resistance.
  • #109,879
  • Apr 5, 2012 6:20am Apr 5, 2012 6:20am
Quoting beebolbod
Attachment

Different entry method for me but same outcome

Question - are you clear as to why your 1h pinbar was good to take?
First of all we saw beautiful 85.00 support, that was tested multiple times. Was too risky to sell on pure break. But it finally broke. All I was waiting for is the retrace to 85.00 and bearish confirmation. Also Rust gave me a great hint yesterday (second chart), as 85.00 had a little test and rejected. 1H pinbar gave me more confidence that 85.00 is the resistance now.
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If not up, then down, otherwise sideways :-)
  • #109,880
  • Apr 5, 2012 6:21am Apr 5, 2012 6:21am
Quoting bfd
What do people think about the 1hr pinbar on UsdChf? It seems to be hitting a level of resistance.
Don't torture yourself with H1, you should be looking at the weekly & daily time frames.
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