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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

  • #120,241
  • Nov 1, 2012 11:22am Nov 1, 2012 11:22am
Ok here we go:
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1 - a shy little pinbar. Not the biggest size, not the strongest close. Play it by itself ? My answer is never
2 - well well , location wise. It breached the last swing high. Getting interesting here. Orders above were cleared. Maybe a fake breakout? Maybe a stop hunt? Maybe just old resistance holds? Who knows... but we got information here - and that's the reaction!

Let's see it from the inside.
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3 - a nice fat BEOB? no? Would you play this one right towards the PPZ (4), coinciding with this CLEAN trendline (5) ? I won't personally..mm no. But it's information! A lot of it!
4 - damn why i have two 4s... nevermind. You see it - it's divergence. One of my favorite things Powerful as hell, once you get how to use it . Another confluence.

Wanna dig deeper ?
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6 - head and shoulders! YES! With a neckline that PPZ ! A beauty i think, knowing what we are looking at the bigger timeframes.

If now i play this head and shoulders on the H1 guys, tell me honestly... would you call that i am trading the lower timeframes and not the bigger ones?

I don't want to play the pin on daily by itself. Not that's bad, just i want it perfect!
I don't want to play the BEOB on the H4 because it's going right to a potential trouble.
And finally i want to play a tiny H1 head and shoulders ? ...that i would never play by itself alone...hehe

Too complicated ? I think i'm still pretty much attached to the "keep it simple". Just i know what i am looking at.

I hope at least some of you guys extract something from this "story" that will make your future trading better
  • #120,242
  • Nov 1, 2012 11:51am Nov 1, 2012 11:51am
Quoting Rust
Ok here we go:
Attachment
1 - a shy little pinbar. Not the biggest size, not the strongest close. Play it by itself ? My answer is never
2 - well well , location wise. It breached the last swing high. Getting interesting here. Orders above were cleared. Maybe a fake breakout? Maybe a stop hunt? Maybe just old resistance holds? Who knows... but we got information here - and that's the reaction!

Let's see it from the inside.
Attachment
3 - a nice fat BEOB? no? Would you play this one right towards the PPZ (4), coinciding...
thank you...well stated
  • #120,243
  • Nov 1, 2012 12:22pm Nov 1, 2012 12:22pm
Too complicated ? I think i'm still pretty much attached to the "keep it simple". Just i know what i am looking at.

I hope at least some of you guys extract something from this "story" that will make your future trading better [/quote]

Hey Rust,

Great post...very detailed analysis which makes sense to a newb like myself,

Just wondering if you would ever take a trade like this given that the h1 head and shoulders neckline looks like it has broken?

Or do you just rule out this kind of trade because of the close proximity of the PPZ on the daily?

Secondly, I don't use divergence as an indicator, I have heard it can be unreliable when in a strongly trending market? Would you recommend not using until I have a full understanding of PPZ's, S/R flips and price action?

Any thoughts you have would be most welcome..
  • #120,244
  • Nov 1, 2012 12:26pm Nov 1, 2012 12:26pm
Rust - if i could give you a "V" would be already there.
  • #120,245
  • Nov 1, 2012 12:32pm Nov 1, 2012 12:32pm
Quoting Rust
Ok here we go:
Attachment
1 - a shy little pinbar. Not the biggest size, not the strongest close. Play it by itself ? My answer is never
2 - well well , location wise. It breached the last swing high. Getting interesting here. Orders above were cleared. Maybe a fake breakout? Maybe a stop hunt? Maybe just old resistance holds? Who knows... but we got information here - and that's the reaction!

Let's see it from the inside.
Attachment
3 - a nice fat BEOB? no? Would you play this one right towards the PPZ (4),...
Nice analysis Rust (I'm in this one too, for the exact same reasons... )

I came back to earlier posts of this thread. One (Habeeb's? Seeking Light? can't remember...) was stating that a PB is often a compressed H&S on a lower TF. This is a very nice handbook example

To Mike and all other people stuck under Sandy, quick word to wish you all the best to you, your friends and relatives.

Take care,
Slow & steady
  • #120,246
  • Edited 1:08pm Nov 1, 2012 12:35pm | Edited 1:08pm
Quoting cupoftea2222
Just wondering if you would ever take a trade like this given that the h1 head and shoulders neckline looks like it has broken?

Chart please

Or do you just rule out this kind of trade because of the close proximity of the PPZ on the daily?

Why do you think that i ruled out this trade? Either i don't understand you, but the trade is not ruled out.

Secondly, I don't use divergence as an indicator, I have heard it can be unreliable when in a strongly trending market? Would you recommend not using until I have a full understanding...
Answers in bold.

EDIT - damn forum cut the answers, because in quote... gotta go now. Will write it back later. Sorry.
  • #120,247
  • Nov 1, 2012 2:17pm Nov 1, 2012 2:17pm
Quote:
Originally Posted by Rust http://images.forexfactory.net/buttons/viewpost.gif
Ok here we go:
Attachment 1070484
1 - a shy little pinbar. Not the biggest size, not the strongest close. Play it by itself ? My answer is never
2 - well well , location wise. It breached the last swing high. Getting interesting here. Orders above were cleared. Maybe a fake breakout? Maybe a stop hunt? Maybe just old resistance holds? Who knows... but we got information here - and that's the reaction!

Let's see it from the inside.
Attachment 1070485
3 - a nice fat BEOB? no? Would you play this one right towards the PPZ (4),...

Hi all, just arrived here. Education like the one I quoted is what I am trying (hopefully someday ...) to achieve.
Thanks for all this shared and free info.
  • #120,248
  • Edited 2:57pm Nov 1, 2012 2:29pm | Edited 2:57pm
Quoting Rust
Man... i don't know how to put this the best way. But... i think you do something that it's commonly done by newer guys and this is wrong interpretation of "keep it simple". I'm quoting you but i think this goes to the most of the struggling ones.
PPZs are the most important single thing in technical analysis!!! I stand with both my hands on that. You can use fibs or trendlines or macd or you name it to compliment your edge and view of the market. But PPZ's are critical, they are BASE.
So what i am trying to say is that you can't just...
Maybe But I don't use fib or trendlines anymore, RSI very rare (I can see div without it in most cases) I'm more a HCR/LCS guy - jarroo, chanya thing, some of ghous staff too...But I have been using ppz (and trendlines with fibs as confluence) and pa (pa is still nice confluence) some time ago (for few years I think) - It's just not my thing - but this is elementary knowledge (very helpful in seeking your own way and knowing the price better), which every trader should acquire - in my humble opinion of course
  • #120,249
  • Nov 1, 2012 3:57pm Nov 1, 2012 3:57pm
Quoting Rust
Man... i don't know how to put this the best way. But... i think you do something that it's commonly done by newer guys and this is wrong interpretation of "keep it simple". I'm quoting you but i think this goes to the most of the struggling ones.
PPZs are the most important single thing in technical analysis!!! I stand with both my hands on that. You can use fibs or trendlines or macd or you name it to compliment your edge and view of the market. But PPZ's are critical, they are BASE.
So what i am trying to say is that you can't just...
Awesome words my friend ...
Human
  • #120,250
  • Nov 1, 2012 4:08pm Nov 1, 2012 4:08pm
Quoting Rust
Ok here we go:
Attachment
1 - a shy little pinbar. Not the biggest size, not the strongest close. Play it by itself ? My answer is never
2 - well well , location wise. It breached the last swing high. Getting interesting here. Orders above were cleared. Maybe a fake breakout? Maybe a stop hunt? Maybe just old resistance holds? Who knows... but we got information here - and that's the reaction!

Let's see it from the inside.
Attachment
3 - a nice fat BEOB? no? Would you play this one right towards the PPZ (4),...
Bravo, RUST!
If not up, then down, otherwise sideways :-)
  • #120,251
  • Nov 1, 2012 4:18pm Nov 1, 2012 4:18pm
Quoting Sciurus
Hey Pinbar, I respect your opinion on this pair.

My sell stop was hit this AM. Now price is sitting at the first area of resistance that I identified before setting up the trade (around 1.29). I had identified this as a minor S/R area. Can you tell me what you mean by a ppz area? There are 2 swing lows around 1.28. Is that the area you are referring to?
Don't worry about the ones that get away, let them go.
It is better than taking mediocre setups & getting into the habit of doing so.
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  • #120,252
  • Nov 1, 2012 4:25pm Nov 1, 2012 4:25pm
Quoting Rust
Ok here we go:
Attachment
1 - a shy little pinbar. Not the biggest size, not the strongest close. Play it by itself ? My answer is never
2 - well well , location wise. It breached the last swing high. Getting interesting here. Orders above were cleared. Maybe a fake breakout? Maybe a stop hunt? Maybe just old resistance holds? Who knows... but we got information here - and that's the reaction!

Let's see it from the inside.
Attachment
3 - a nice fat BEOB? no? Would you play this one right towards the PPZ (4), coinciding...
Nice analysis...the daily also prints an SFP with MACD divergence.I sold at 1.2961 with about .5R locked in now.
There is a thread devoted to SFP's in the PF...These are super reliable setups.
  • #120,253
  • Nov 1, 2012 5:08pm Nov 1, 2012 5:08pm
Quoting Pinbar
Don't worry about the ones that get away, let them go.
It is better than taking mediocre setups & getting into the habit of doing so.
And i can only say TRUE to that ... but ...this was not mediocre setup in my book
  • #120,254
  • Nov 1, 2012 5:52pm Nov 1, 2012 5:52pm
Quoting cupoftea2222
Secondly, I don't use divergence as an indicator, I have heard it can be unreliable when in a strongly trending market? Would you recommend not using until I have a full understanding of PPZ's, S/R flips and price action?

Any thoughts you have would be most welcome..
To add this answer again, cause quoting cut it the first time i wrote it:

Divergence is not an indicator actually, you can use indicators to help you determine it, or even you can see it by eye (with a little practice and some chart time). The second i prefer, because this means you start to know what divergence is and not just know how to search for it with indicators.
Divergence can kill you, very true. But this is if you try to trade it blind and without understanding it. I mean you spot there is divergence with an indicator and you buy or sell. I like to use divergence as a part of the whole picture, a compliment to the setup and i think it's a killer confluence!
In the end there is nothing wrong to learn PPZs/flips and PA first and then add whatever you like
  • #120,255
  • Nov 1, 2012 6:00pm Nov 1, 2012 6:00pm
Quoting tinkerbelle
Rust - if i could give you a "V" would be already there.
Your and the other guys' kind words and appreciation is what mean to me even more than V's
Thanks guys, the feeling is great to see someone benefits from my contribution after those years of hard work (many more still to come!)
  • #120,256
  • Nov 1, 2012 6:06pm Nov 1, 2012 6:06pm
Quoting edge540
Nice analysis...the daily also prints an SFP with MACD divergence.I sold at 1.2961 with about .5R locked in now.
There is a thread devoted to SFP's in the PF...These are super reliable setups.
The daily and the H4 as well. That pinbar technically is a SFP
Combining both will increase your pinbar play probability greatly, you are damn right.
Mike teaches this actually in his webinars and posts, just not using the term SFP
  • #120,257
  • Nov 1, 2012 7:09pm Nov 1, 2012 7:09pm
well today I shorted cable.
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all is eternal - this is good news for people who loves bad news
  • #120,258
  • Nov 1, 2012 7:10pm Nov 1, 2012 7:10pm
Quoting Rust
Ok here we go:
Attachment
1 - a shy little pinbar. Not the biggest size, not the strongest close. Play it by itself ? My answer is never
2 - well well , location wise. It breached the last swing high. Getting interesting here. Orders above were cleared. Maybe a fake breakout? Maybe a stop hunt? Maybe just old resistance holds? Who knows... but we got information here - and that's the reaction!

Let's see it from the inside.
Attachment
3 - a nice fat BEOB? no? Would you play this one right towards the PPZ (4),...
Superb analysis. Thanks.
  • #120,259
  • Nov 1, 2012 7:34pm Nov 1, 2012 7:34pm
Quoting meshka
well today I shorted cable.
I saw that, but it's pass for me. We had lower and lower hcrs, and now close above - I don't like it...But with high above yellow and close below blue - I would consider that I'm gonna watch it, because it's interesting one, and good luck to you my friend...You are much better trader than I am, so you are probably right

But I put short pending on gbpnzd - so I like the gbp down idea
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  • #120,260
  • Nov 1, 2012 7:46pm Nov 1, 2012 7:46pm
Quoting Rust
Ok here we go:
Attachment
1 - a shy little pinbar. Not the biggest size, not the strongest close. Play it by itself ? My answer is never
2 - well well , location wise. It breached the last swing high. Getting interesting here. Orders above were cleared. Maybe a fake breakout? Maybe a stop hunt? Maybe just old resistance holds? Who knows... but we got information here - and that's the reaction!

Let's see it from the inside.
Attachment
3 - a nice fat BEOB? no? Would you play this one right towards the PPZ (4), coinciding...
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