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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

  • #111,221
  • May 3, 2012 7:42am May 3, 2012 7:42am
Hello everyone, I have a quick question as I read through the thread and go through the learning process. If you had a downtrend that is in a retracement, and in that retracement you see a buovb immediately followed by two dbhlc, what would you do? Is there a trade to be made here? Thanks.
  • #111,222
  • May 3, 2012 8:30am May 3, 2012 8:30am
Quoting PhAnTi'
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Or finally a breakdown into the free land with green grass With a nice barrier 1.3000 to protect our sell
Ok, maybe both
  • #111,223
  • May 3, 2012 8:34am May 3, 2012 8:34am
Hey 5.25 ,
how this counts by your standarts
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  • #111,224
  • May 3, 2012 8:48am May 3, 2012 8:48am
AUDCAD is hitting into nice ppz...
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  • #111,225
  • May 3, 2012 8:50am May 3, 2012 8:50am
Quoting mbarker22
Hello everyone, I have a quick question as I read through the thread and go through the learning process. If you had a downtrend that is in a retracement, and in that retracement you see a buovb immediately followed by two dbhlc, what would you do? Is there a trade to be made here? Thanks.
Hey MB

It's really impossible to give a one size fits all answer for PA trading. If you have a specific example it will be easier as the situation is more important than just the bar setups

Best
Mike
  • #111,226
  • May 3, 2012 8:56am May 3, 2012 8:56am
A quicky to prevent me from sleeping
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  • #111,227
  • May 3, 2012 10:30am May 3, 2012 10:30am
Quoting willf
Trouble is this pin is going right into the 80.00BRN and 50% fib from the most recent low/high. It may break through but that's a big round number to get past. Just my 2 cents
Hey guys, talking about possible shorts on UJ? I see it going long. But someone's always gotta take the other side of the trade right? (in my case it would be my broker haha)

PB on the weekly, nose off a PPZ. Might not be a long nose, but the open/close so far is in the top 1/3. Maybe something for next week once the weekly bar closes for a better view.
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  • #111,228
  • May 3, 2012 10:44am May 3, 2012 10:44am
Quoting Rust
A quicky to prevent me from sleeping
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you and me both m8

Seems to be going ok

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  • #111,229
  • May 3, 2012 10:58am May 3, 2012 10:58am
I'm going to watch this closely.
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  • #111,230
  • May 3, 2012 11:10am May 3, 2012 11:10am
Quoting rafstraszek
I'm going to watch this closely.
this pair screwed me today. there are some bar lows to the left to watch out for before we are out in the open. Wait for pullbacks and PA as always on breakouts (well i do unless i'm doing pre-emptive strike in low tf).
  • #111,231
  • May 3, 2012 11:14am May 3, 2012 11:14am
Quoting 4tiger
Hey guys, talking about possible shorts on UJ? I see it going long. But someone's always gotta take the other side of the trade right? (in my case it would be my broker haha)

PB on the weekly, nose off a PPZ. Might not be a long nose, but the open/close so far is in the top 1/3. Maybe something for next week once the weekly bar closes for a better view.
The week isn't over yet m8. Hold tight. I have shorts in this pair

I think a little drop now is in order please market. QM/HS pattern unfolding. please. please..... oh well, i'm safe whatever it does.

EDIT - not ruling out longs at all..... the pin is a valid call m8, lets wait and see
  • #111,232
  • May 3, 2012 11:39am May 3, 2012 11:39am
Hi , Mike Plz tell me how to correctly draw this wedge that is being formed around VBRN 130.0 ?
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Human
  • #111,233
  • May 3, 2012 11:44am May 3, 2012 11:44am
And Also , What are your reviews about this Pinbar that is being formed , Supposing it will close bullish and being formed nicely .>? It is at storng PPZ , it has a daily 365 Ema as a support and it also have Rn 1.02500 .
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Human
  • #111,234
  • May 3, 2012 11:55am May 3, 2012 11:55am
Quoting Chanya
Hi , Mike Plz tell me how to correctly draw this wedge that is being formed around VBRN 130.0 ?
Hey Chanya

This is how I have it drawn and what I am watching
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  • #111,235
  • May 3, 2012 11:55am May 3, 2012 11:55am
Perfect touches.
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  • #111,236
  • May 3, 2012 11:58am May 3, 2012 11:58am
Quoting Chanya
And Also , What are your reviews about this Pinbar that is being formed , Supposing it will close bullish and being formed nicely .>? It is at storng PPZ , it has a daily 365 Ema as a support and it also have Rn 1.02500 .
Hey C

Look at the HUGE bearish bars previous too it. THis bar is super super super tiny. Do we want to fight upstream against such a strong current with such a tiny bar? I sure wouldn't want to be the one buying into that selling pressure.

Don't forget the pitbull pinbars post
http://www.forexfactory.com/showthre...40#post2913840

Best
Mike
  • #111,237
  • May 3, 2012 11:59am May 3, 2012 11:59am
Quoting mbqb11
Hey Chanya

This is how I have it drawn and what I am watching
So , will you take it just as a break out or will you wait for the retest ???
Human
  • #111,238
  • May 3, 2012 12:00pm May 3, 2012 12:00pm
Quoting beebolbod
The week isn't over yet m8. Hold tight. I have shorts in this pair

I think a little drop now is in order please market. QM/HS pattern unfolding. please. please..... oh well, i'm safe whatever it does.

EDIT - not ruling out longs at all..... the pin is a valid call m8, lets wait and see
Haha, maybe I speak too soon. 24 hours is enough time for the weekly PB I pointed out to unvalidate itself by the time it closes. Reason why I'm looking at the weekly is to find something for a reaally long term trade.

I see the bearish daily H&S pattern. Price is right at the neckline!

What it all comes down to maybe is BRN 80.00!!

Edit: Yes.. I should sit tight and play the waiting game lol. To build my patience!

Quoting zamfir
Now here is a good example i want to show , you can see there is a PPZ @ around 80.50 - 80.60 zone.
I see this PPZ now, but it is so close to the price that I think that price would break through it easily. What I mean is any push up to this point again would have more momentum to break through, compared to if price had made a quick 200 pip rise towards this same zone, then in that case I'm sure the zone would hold as bulls would lose power (it's like reaching this zone after a 200 meter sprint).

Edit: You were talking about shorts and why the daily PB formed off of it.. I'm saying what could happen If bulls decide to push price up there again
  • #111,239
  • May 3, 2012 12:02pm May 3, 2012 12:02pm
Quoting Chanya
So , will you take it just as a break out or will you wait for the retest ???
Hey C

I will simply be watching for PA information at this area. I never just buy or sell a pattern, or very rarely. We look for PA confirmation with the bar techniques that James teaches us

Check my charts(click my name and then attachments) you will see a lot of breakout examples as it varies trade to trade. We could get a bar BEFORE the breakout, a pullback after etc.

Best
Mike
  • #111,240
  • May 3, 2012 12:04pm May 3, 2012 12:04pm
Quoting mbqb11
Hey C

I will simply be watching for PA information at this area. I never just buy or sell a pattern, or very rarely. We look for PA confirmation with the bar techniques that James teaches us

Check my charts(click my name and then attachments) you will see a lot of breakout examples as it varies trade to trade

Best
Mike
I think its already understood and I need not say it but I am still saying it

You are awesome
Human
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