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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

  • #111,621
  • May 10, 2012 4:36pm May 10, 2012 4:36pm
Mike
Hello

What's your opinion of tomorrow into gold

ib
.ppz
brn
ema 365

Sorry for my bad English
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  • #111,622
  • May 10, 2012 4:54pm May 10, 2012 4:54pm
Quoting eXtreme
pinbar on EURUSD daily
level 1,2975
bear trend
Hey Extreme

Careful here this is just an inside bar. For it to be a pinbar the nose needs to protrude away from the previous bars high/low

Let me know if you don't know what I mean

Best
Mike
  • #111,623
  • May 10, 2012 4:57pm May 10, 2012 4:57pm
Quoting mbqb11
Hey Extreme

Careful here this is just an inside bar. For it to be a pinbar the nose needs to protrude away from the previous bars high/low

Let me know if you don't know what I mean

Best
Mike
Mike, How would you play this E/U now? We are sitting below 1.3000, FTA is close at 1.28815, we had a lot of support on the 1.3, price is below now, no clear entry. Is there any way to trade this? I can't even grasp a "day trading the daily" entry on this.
Many choose unhappiness over uncertainty.
  • #111,624
  • May 10, 2012 5:04pm May 10, 2012 5:04pm
Quoting mbqb11
Yep this exactly the type of stuff you want to do C. Then it's a matter of deciding how you want to enter. Some might enter blind. Others might drop down watch the 4hr and lower etc. But if you wait for confluenced areas enough it gets much easier.

Let's see what the 1.6 shows into the next session. Daily shows a ghous IPB

Best
Mike
I am glad I am trying to learn ( Somewhat with difficulty ) not to enter blindly ....
Human
  • #111,625
  • May 10, 2012 5:04pm May 10, 2012 5:04pm
Quoting Yehuda Sh
Mike
Hello

What's your opinion of tomorrow into gold

ib
.ppz
brn
ema 365

Sorry for my bad English
Hey Yehuda

I don't trade inside bars much or am very very very picky when I do. This case we are coming of some strong bearish moves but price is also nearing the overall larger consolidation. One could straddle a bar like this using FTAs, but it's tricky here. I am more interested to see how price reacts to the following wedge(see chart)

Hope that helps
Mike
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  • #111,626
  • May 10, 2012 5:06pm May 10, 2012 5:06pm
Quoting Dan Gilbert
Mike, How would you play this E/U now? We are sitting below 1.3000, FTA is close at 1.28815, we had a lot of support on the 1.3, price is below now, no clear entry. Is there any way to trade this? I can't even grasp a "day trading the daily" entry on this.
Hey Dan

funny I guess this is sort of similar to gold I just posted.

I am more a fan of watching that wedge if price wants to close the gap. Otherwise I will be watching 1.3 intraday as I do with most BRNs but this doesn't fit in line much with what I do(the IB that is). You could

A. Buy above 1.3 and see if that turns to support and closes the gap
B. Sell a break of the IB and see if price can break the lowest low and keep going

Both make sense and are reasonable, but not quite enough for me to throw money at myself

Here was my chart on euro too
http://www.forexfactory.com/showthre...60#post5655960
Best
Mike
  • #111,627
  • May 10, 2012 5:07pm May 10, 2012 5:07pm
Quoting eXtreme
pinbar on EURUSD daily
level 1,2975
bear trend
This is no way a pinbar my friend ... This is the image of the PA bars including how the pinbar should look like ....
Attached Image
Human
  • #111,628
  • May 10, 2012 5:18pm May 10, 2012 5:18pm
Mike
Hello

Thanks a lot for your feedback
I am a very happy clear explanation

"One could straddle a bar like this using FTAs, but it's tricky here"



Sorry for my bad English
  • #111,629
  • May 10, 2012 5:20pm May 10, 2012 5:20pm
I think I'll go for GBP/CHF

1.500 level
1st return to it after march 2011
Hanging man fomred (though not a great one...)

Small SL and fast to BE is the plan.
Thoughts are things
  • #111,630
  • May 10, 2012 5:21pm May 10, 2012 5:21pm
Quoting Yehuda Sh
Mike
Hello

Thanks a lot for your feedback
I am a very happy clear explanation

"One could straddle a bar like this using FTAs, but it's tricky here"



Sorry for my bad English
a lot of people play a straddle on some inside bars

Straddle would mean putting a buy above and a sell below. It is also referred to sometimes as bracketing . The reason people do this with inside bars is because an inside day is simply a consolidation and decreasing range. Where as with say a BUOB we only look to buy because the bar is giving us more information. This is part of why I think inside bars a trickier to get down

Hope that helps bud
Mike
  • #111,631
  • May 10, 2012 6:08pm May 10, 2012 6:08pm
chfjpy coming into a great area to watch....BRN, PPZ, 61.8 fib
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  • #111,632
  • May 10, 2012 6:37pm May 10, 2012 6:37pm
Quoting mbqb11
Hey Dan

funny I guess this is sort of similar to gold I just posted.

I am more a fan of watching that wedge if price wants to close the gap. Otherwise I will be watching 1.3 intraday as I do with most BRNs but this doesn't fit in line much with what I do(the IB that is). You could

A. Buy above 1.3 and see if that turns to support and closes the gap
B. Sell a break of the IB and see if price can break the lowest low and keep going

Both make sense and are reasonable, but not quite enough for me to throw money at myself

Here was my chart on...

Ok thanks. I see you are basing your wedge more on the high and low close prices vs the high and low for the day.
Many choose unhappiness over uncertainty.
  • #111,633
  • May 10, 2012 10:32pm May 10, 2012 10:32pm
Just wondering if this topic has been brought up before (I am sure it has ). Do most people here use James16 PA to aid with another trading strategy of their choice, or do most people just PA by itself and that is their strategy?

I ask because it is hard for me to pick a good strategy I want to go with, and was wondering if PA alone really is an option for someone to just use that?

Thanks for any replys!
  • #111,634
  • May 11, 2012 12:10am May 11, 2012 12:10am
Quoting mbarker22
Just wondering if this topic has been brought up before (I am sure it has ). Do most people here use James16 PA to aid with another trading strategy of their choice, or do most people just PA by itself and that is their strategy?

I ask because it is hard for me to pick a good strategy I want to go with, and was wondering if PA alone really is an option for someone to just use that?

Thanks for any replys!
just price action for me
  • #111,635
  • May 11, 2012 12:11am May 11, 2012 12:11am
Quoting Dan Gilbert
Ok thanks. I see you are basing your wedge more on the high and low close prices vs the high and low for the day.
mostly high and low for the day. I look for clear easy to spot patterns. Really that is MOST important to me.

But everyone has a different take so maybe what i think is clear and easy isn't


Hope all is well old friend
Mike
  • #111,636
  • May 11, 2012 12:59am May 11, 2012 12:59am
J16 methords very reliable ,pa ,conflunece ,thats it really away you go ,make money !
With practise !



Quoting mbarker22
Just wondering if this topic has been brought up before (I am sure it has ). Do most people here use James16 PA to aid with another trading strategy of their choice, or do most people just PA by itself and that is their strategy?

I ask because it is hard for me to pick a good strategy I want to go with, and was wondering if PA alone really is an option for someone to just use that?

Thanks for any replys!
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #111,637
  • May 11, 2012 1:33am May 11, 2012 1:33am
Quoting mbqb11
yes quite the mess underneath I agree with DK be very very careful especially since this is your first trade. We want to be looking for nice clear strong closing bars at clear swing points. This one is in a big box now. I hoping for a breakout above the highs over the coming days.

Mike
I'm at breakeven now on the usd/cad if anyone is interested, since we are retesting the highs.
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  • #111,638
  • May 11, 2012 2:24am May 11, 2012 2:24am
Quoting mbqb11
I'm at breakeven now on the usd/cad if anyone is interested, since we are retesting the highs.
I was watching it yesterday, but did not go for it because of those highs.
Maybe on monday, if we break them.

You've entered on a retrace after big bullish bar?
Thoughts are things
  • #111,639
  • May 11, 2012 2:56am May 11, 2012 2:56am
Quoting mbqb11
I'm at breakeven now on the usd/cad if anyone is interested, since we are retesting the highs.
Hey Mike , I am interested
Could you please elaborate on this entry . Although i am pretty familiar with your style , this one i can't figure out

Regards my man
  • #111,640
  • May 11, 2012 3:22am May 11, 2012 3:22am
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