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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

  • #120,761
  • Nov 13, 2012 12:11am Nov 13, 2012 12:11am
gold h6
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,762
  • Nov 13, 2012 12:41am Nov 13, 2012 12:41am
Quoting Abdu
Hi guys

can anybody help me with this Pin Bar, is it correct one, pinbar-fibo retrace 0.61- moving average 150.

what do you think about this situation?

Abdu

http://www.forexfactory.com/attachme...1&d=1352793062
Hi Abdu,

You should have a look at ForexFrog's post, just above yours, as well as others related to USDJPY and CADJPY these last few pages.
The PB you pointed is OK but, IMO, is facing a weekly BEOB, a strong descending trendline, and the 80.00 BRN.
I would expect, if this PB works, that price would touch 80.00 before moving down.

Take care,

P.
Slow & steady
  • #120,763
  • Nov 13, 2012 12:53am Nov 13, 2012 12:53am
Hi Patapouer

thanks for quick answer...


Abdu
  • #120,764
  • Nov 13, 2012 1:08am Nov 13, 2012 1:08am
Quoting Bones
gold h6
i like the daily now that would be my preferable scenario...

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  • #120,765
  • Nov 13, 2012 4:00am Nov 13, 2012 4:00am
I thought this H1 PB was the key.
Certainly had the Bham effect to it.
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  • #120,766
  • Nov 13, 2012 4:56am Nov 13, 2012 4:56am
Quoting Pinbar
I thought this H1 PB was the key.
Certainly had the Bham effect to it.
nice play, there was a nice divergence too
I was monitoring it thinking of taking it but had to have lunch... had to choose!

let's see how today will close... pinbar??

take care
Slow & steady
  • #120,767
  • Nov 13, 2012 5:21am Nov 13, 2012 5:21am
AUD/CAD

huge uptrend waiting for a clear break of the TL...

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  • #120,768
  • Nov 13, 2012 6:12am Nov 13, 2012 6:12am
Quoting JumanJi
Hi Everyone ,

Its been few months I have been reading this thread. No doubt this is wealth of knowledge.

I have been trading since 2008-09 and been in loss religiously. After trading every indicator on this earth , I tried PA. I learnt (In theory) what I think people trade here i.e. (Pin Bar, BUOB, BEOB, DBLHC,DBHLC & Inside Bar) . In practical I tried them and practicing on demo now (No money left ... and specially after reading James thread for trying in demo and be successful for three month before you I change the time frame and keep...
Hey JJ

Glad to see you posting. I take some time and practice to begin to get this stuff. You have to keep at it and you will learn something new every day this I can promise you

Here was a chart I posted in the PF of someone who also asked about the usd/jpy

Hope it helps you

Mike
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  • #120,769
  • Nov 13, 2012 6:13am Nov 13, 2012 6:13am
Quoting mbqb11
Very interesting area

I have it on the hourly with divergence and a squeeze into the BRN. Good area to watch for PA. But I am still waiting to see a tip off here with PA.

Here is my chart


Best
Mike
This one ended up giving a nice 2hr BEOB that NEVER broke. Order gets pulled and just keep searching. Looks like usd bulls are back which makes more sense across the board

Mike
  • #120,770
  • Nov 13, 2012 6:25am Nov 13, 2012 6:25am
Quoting Abdu
Hi guys

can anybody help me with this Pin Bar, is it correct one, pinbar-fibo retrace 0.61- moving average 150.

what do you think about this situation?

Abdu

http://www.forexfactory.com/attachme...1&d=1352793062
Hey Abdu

Check this chart see if it helps. This one is chopping around cause of the location and weak close. May end up getting a push but it makes management tricky tricky
http://www.forexfactory.com/showthre...84#post6190384

Best
MIke
  • #120,771
  • Nov 13, 2012 6:33am Nov 13, 2012 6:33am
Quoting mbqb11
This one ended up giving a nice 2hr BEOB that NEVER broke. Order gets pulled and just keep searching. Looks like usd bulls are back which makes more sense across the board

Mike
I was watching it, too. It was a very confusing start of the day. I was (and still am) bullish USD longer term (nice pitka setup on USDSEK, that missed my order by a notch, still looking if i could get in). And in the same time i was shorting USD pairs short term (nailed that drop on usddkk).
intense
  • #120,772
  • Nov 13, 2012 6:39am Nov 13, 2012 6:39am
Question for Mike and for Bullzye

GBPAUD H4 has gone below the PPZ and the 38 Fibo and has retraced back up and a pinbar has come very close to the 38 level which is generally well respected . This pin bar is not amazing bit none the less PA on a retrace .

would you cal this pinbar good enough to go short or am I better to wait for a much stronger Pinbar or BEob or IB??

comments greatly appreciated
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Thank you J16 & Trader Dante
  • #120,773
  • Nov 13, 2012 6:53am Nov 13, 2012 6:53am
REASON NOT TO TRADE!

Below is the USDCAD H4
I have been following it up to the 50% Fibo and expecting a reversal. A pinbar has developed and was looking to take a trade but notice the BRN
-our rules : Dont trade towards BRN.

so now am I best to wait for price to go below BRN and then wait for price action either above or below it?
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Thank you J16 & Trader Dante
  • #120,774
  • Nov 13, 2012 7:21am Nov 13, 2012 7:21am
Quoting chartergas
Question for Mike and for Bullzye

GBPAUD H4 has gone below the PPZ and the 38 Fibo and has retraced back up and a pinbar has come very close to the 38 level which is generally well respected . This pin bar is not amazing bit none the less PA on a retrace .

would you cal this pinbar good enough to go short or am I better to wait for a much stronger Pinbar or BEob or IB??

comments greatly appreciated
I'm in that GBPAUD short trade ,Pinbar H1,Fibo and flipped S to R,but aiming for a little profit
I don't care if I grab only few pips,as long as my R:R ratio is respected
I never take the risk to trade if room for the price is less then 1:1

BTW,there will be some action on GBP tomorrow
Account deleted
  • #120,775
  • Nov 13, 2012 8:06am Nov 13, 2012 8:06am
Quoting chartergas
Question for Mike and for Bullzye

GBPAUD H4 has gone below the PPZ and the 38 Fibo and has retraced back up and a pinbar has come very close to the 38 level which is generally well respected . This pin bar is not amazing bit none the less PA on a retrace .

would you cal this pinbar good enough to go short or am I better to wait for a much stronger Pinbar or BEob or IB??

comments greatly appreciated
hey gas, i like this one on daily it looks very promising...it broke trough support, retest today and on the way down again...very nice. Many space there down...how could i missed it

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  • #120,776
  • Nov 13, 2012 8:18am Nov 13, 2012 8:18am
Quoting chartergas
Question for Mike and for Bullzye

GBPAUD H4 has gone below the PPZ and the 38 Fibo and has retraced back up and a pinbar has come very close to the 38 level which is generally well respected . This pin bar is not amazing bit none the less PA on a retrace .

would you cal this pinbar good enough to go short or am I better to wait for a much stronger Pinbar or BEob or IB??

comments greatly appreciated
Hey C

You want to be careful here. Notice this pinbar doesn't make a good swing point. This puts price more near a swing low and trading into traffic or the last major point of buying here. So these are tricky. This is why I speak about space vs traffic. THis is where that comes into play. If your location isn't dead on then you end up selling right into the buying

Let me know if that makes sense
Mike
  • #120,777
  • Nov 13, 2012 8:20am Nov 13, 2012 8:20am
Quoting chartergas
REASON NOT TO TRADE!

Below is the USDCAD H4
I have been following it up to the 50% Fibo and expecting a reversal. A pinbar has developed and was looking to take a trade but notice the BRN
-our rules : Dont trade towards BRN.

so now am I best to wait for price to go below BRN and then wait for price action either above or below it?
Great C! Glad to see you look into things further. Notice price is essentially consolidating around the important BRN. This can keep us out of a lot of bad trades or TRICKY trades to manage.

I think we should wait for further clues here

Mike
  • #120,778
  • Nov 13, 2012 8:46am Nov 13, 2012 8:46am
Thanks Guys, i appreciate your time to answer my questions!

Bullzeye are you going to enter under the inside bar on the daily? (GBPAUD)

Hilton
Thank you J16 & Trader Dante
  • #120,779
  • Nov 13, 2012 9:41am Nov 13, 2012 9:41am
well I think its bearish too ,but its not an easy read ,may be we must wait for tl ?


Quoting bullzeye
hey gas, i like this one on daily it looks very promising...it broke trough support, retest today and on the way down again...very nice. Many space there down...how could i missed it

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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,780
  • Nov 13, 2012 9:49am Nov 13, 2012 9:49am
Hi bullzeye,

how is your GOLD chart looks like now?? today morning a had pin like you on H1 and H4 ... come back home now and chart repaint right before my eyes and look totally diferent !!! how the hell is this possible omg.
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