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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

  • #114,421
  • Jul 18, 2012 5:21pm Jul 18, 2012 5:21pm
chart:

http://i45.tinypic.com/2lp2ts.gif

what Do You think about this situaction?
  • #114,422
  • Jul 18, 2012 5:24pm Jul 18, 2012 5:24pm
Quoting 0421
chart:

http://i45.tinypic.com/2lp2ts.gif

what Do You think about this situaction?
Hey 04

Technically it's not a pinbar as price didn't close within the previous high(off by a bit). This can be a sign of weakness instead of strength. Don't just let a tail fool you to think reversal. Waiting for a nice strong close can help keep us out of some bad trades. We would be trading back into that strong BUB just prior. THis pair is might choppy and coming to a point as many have indicated. I'd like to see some strong PA here

Best
Mike
  • #114,423
  • Jul 18, 2012 5:49pm Jul 18, 2012 5:49pm
Quoting mbqb11
Hey 04

Technically it's not a pinbar as price didn't close within the previous high(off by a bit). This can be a sign of weakness instead of strength. Don't just let a tail fool you to think reversal. Waiting for a nice strong close can help keep us out of some bad trades. We would be trading back into that strong BUB just prior. THis pair is might choppy and coming to a point as many have indicated. I'd like to see some strong PA here

Best
Mike
thank You a lot...

chart:

http://i50.tinypic.com/vqjkhl.gif

THX
  • #114,424
  • Jul 18, 2012 5:52pm Jul 18, 2012 5:52pm
Quoting 0421
thank You a lot...

chart:

http://i50.tinypic.com/vqjkhl.gif

THX
yep very good 04

We don't HAVE to have a strong close like those two(we want the open and close to be within the previous bar). But when learning it's much easier to start to use that as part of the screen process. And yes both are pinbars.

Stick to those ones that jump out when getting your feet under you. It's just plain easier

Best
Mike
  • #114,425
  • Edited 6:45pm Jul 18, 2012 6:24pm | Edited 6:45pm
pleace tell me if You see this situation different.

chart:

http://i46.tinypic.com/11tu2kx.jpg

i think so beacause:

chart:

http://i47.tinypic.com/wkg65y.jpg

and how we play this breakouts for the box.

THX
  • #114,426
  • Jul 18, 2012 6:29pm Jul 18, 2012 6:29pm
Quoting mbqb11
Well often times I can look at many levels areas and have an idea where price is going, things often pan out etc. But that doesn't feel "good" is often a bad sign of how you will manage it and end up sabotaging yourself when the better ones are around the corner. Of course everyone puts this stuff together slightly different and there is no 100% right or wrong way. This is where time and experience will pay a huge factor. I have seen enough scenarios where I now have a better idea of what I am looking at for my particular method. In this...
thanks Mike. That definitely helps.
  • #114,427
  • Jul 18, 2012 8:40pm Jul 18, 2012 8:40pm
Quoting Mebius
Mike, it's pretty obvious to me that you are extremely picky and wait for only those level / stories / setups that are extremely convincing. This level as it stands now doesn't meet your criteria. What was the turning point for you in understanding the need to be patient? When I look at a level like this, I don't feel "good" but I still consider trading it. Is that a clue, that my gut doesn't feel quite right?
This is why this is such a great thread. This is a great question, one that was lurking somewhere in my own trading, but that I wasn't able to put words to.
And this:
Quoting mbqb11
Well often times I can look at many levels areas and have an idea where price is going, things often pan out etc. But that doesn't feel "good" is often a bad sign of how you will manage it and end up sabotaging yourself when the better ones are around the corner. Of course everyone puts this stuff together slightly different and there is no 100% right or wrong way. This is where time and experience will pay a huge factor. I have seen enough scenarios where I now have a better idea of what I am looking at for my particular method....
Is a great and insightful answer that I may never have seen had Mebius not been here to ask the question, and Mike had not been here to respond.

Thanks guys.
  • #114,428
  • Jul 18, 2012 8:43pm Jul 18, 2012 8:43pm
Quoting dof
well some people trade only on candlesticks, and that's a big doji, strong signal
Trend strategy, short term trend it's an uptrend, the price got out of trend (so the entry point is the low of that candlestick)
The long term trend is a down trend, hit the trend line and have some signals of reversal, that means it won't break the long term trend.
Hey dof- Are those envelopes on your chart with varying deviations?
  • #114,429
  • Jul 19, 2012 12:50am Jul 19, 2012 12:50am
i want to know your viewpoints whether can we play this setup.
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  • #114,430
  • Jul 19, 2012 12:53am Jul 19, 2012 12:53am
USD/JPY

sold the brake of the insidebar as continuation of the down trend

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  • #114,431
  • Jul 19, 2012 12:58am Jul 19, 2012 12:58am
USD/CHF

not exactly the pinbar method as james and mike teaches, but look how strong the sellers are: 3 pins after another

this biatch must go down

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  • #114,432
  • Jul 19, 2012 1:03am Jul 19, 2012 1:03am
AUD/JPY

approaching a nice level

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  • #114,433
  • Jul 19, 2012 1:06am Jul 19, 2012 1:06am
AUD/CHF

what a crazy trend, without a breather

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  • #114,434
  • Jul 19, 2012 1:11am Jul 19, 2012 1:11am
EUR/GBP

nice area on weekly: strong support and 61.8 fib

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  • #114,435
  • Jul 19, 2012 1:15am Jul 19, 2012 1:15am
NZD/USD

FTA ahead, strong uptrend with making higher highs and higher lows. I think it will break the resistance at this time

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  • #114,436
  • Jul 19, 2012 1:17am Jul 19, 2012 1:17am
ughhh, sorry guys for spaming , too many charts at once
  • #114,437
  • Jul 19, 2012 2:07am Jul 19, 2012 2:07am
Are you with me, Mike ?
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  • #114,438
  • Jul 19, 2012 2:14am Jul 19, 2012 2:14am
Quoting bullzeye
ughhh, sorry guys for spaming , too many charts at once
thanks for the charts bullzeye, I´m also short on usd/jpy
  • #114,439
  • Jul 19, 2012 2:58am Jul 19, 2012 2:58am
Havent been here for a while,

Just wanted to say good bye to all.

I am part of the 95% of people who failed.

Not wasting any more of my life on forex. GOODLUCK to all and thanks for your help!!
  • #114,440
  • Jul 19, 2012 3:28am Jul 19, 2012 3:28am
Quoting xxxxLearner
Havent been here for a while,

Just wanted to say good bye to all.

I am part of the 95% of people who failed.

Not wasting any more of my life on forex. GOODLUCK to all and thanks for your help!!
Sorry to hear that man,
Good luck with finding your path !
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