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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

  • #122,741
  • Jan 23, 2013 12:07pm Jan 23, 2013 12:07pm
Quoting Magestic
What do you think about Cad/Jpy. Possible reversal maybe happenning. A good Bearish PA below a TL and 95.00 would be nice, isnt it?
absolute beauty to watch
  • #122,742
  • Jan 23, 2013 12:08pm Jan 23, 2013 12:08pm
Quoting nejcb1
Anybody caught USDCAD?

I was waiting... but missed it..
Extraordinary candle, I would say. Hard to catch. These brake out of the box was not obviously predictable.
If not up, then down, otherwise sideways :-)
  • #122,743
  • Jan 23, 2013 12:11pm Jan 23, 2013 12:11pm
Quoting Magestic
Extraordinary candle, I would say. Hard to catch. These brake out of the box was not obviously predictable.
gbp/cad had the better entry that a bunch took
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  • #122,744
  • Jan 23, 2013 1:32pm Jan 23, 2013 1:32pm
Quoting Magestic
What do you think about Cad/Jpy. Possible reversal maybe happenning. A good Bearish PA below a TL and 95.00 would be nice, isnt it?
You asked about CADjpy, but posted a chart of CHFjpy. I assume you are actually talking about CHFjpy.
  • #122,745
  • Jan 23, 2013 4:04pm Jan 23, 2013 4:04pm
Hey, can you explain a bit further why you think CHF/JPY can be good to sell soon? The only signals I see there are for buy (attached) but then again im yet a noob here hehe... thx.
http://i.imgur.com/9Ju14C4.png
  • #122,746
  • Jan 23, 2013 4:22pm Jan 23, 2013 4:22pm
Hey Meshka

Are you still in GBPUSD ? ( short )
  • #122,747
  • Jan 23, 2013 5:37pm Jan 23, 2013 5:37pm
Quoting long2339
Hey Meshka

Are you still in GBPUSD ? ( short )
Yes, sir.
all is eternal - this is good news for people who loves bad news
  • #122,748
  • Edited 10:02pm Jan 23, 2013 9:11pm | Edited 10:02pm
Heads, Shoulders, Knees & Toes.


Quoting Armagedoom
Hey, can you explain a bit further why you think CHF/JPY can be good to sell soon? The only signals I see there are for buy (attached) but then again im yet a noob here hehe... thx.
http://i.imgur.com/9Ju14C4.png
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  • #122,749
  • Jan 23, 2013 9:40pm Jan 23, 2013 9:40pm
I want to know, is that anyone have experience using this indicator? (pinbar dashboard ) . Here is the link : http://multipinbarhunter.mulsis.com/ . How about the result? thanks for your information.
  • #122,750
  • Jan 23, 2013 9:54pm Jan 23, 2013 9:54pm
Quoting ronald_fsm
I want to know, is that anyone have experience using this indicator? (pinbar dashboard ) . Here is the link : http://multipinbarhunter.mulsis.com/ . How about the result? thanks for your information.
Oh man I am sorry but that little video made me spit my drink out with laughter

That's the biggest load of garbage out there don't waste your time and money on this stuff Ronald. It's much easier to learn and going to be more beneficial. Spotting pinbars is easy after a few months, then it takes time to decipher the better ones

Best
Mike
  • #122,751
  • Edited 10:25pm Jan 23, 2013 10:04pm | Edited 10:25pm
Quoting mbqb11
Oh man I am sorry but that little video made me spit my drink out with laughter

That's the biggest load of garbage out there don't waste your time and money on this stuff Ronald. It's much easier to learn and going to be more beneficial. Spotting pinbars is easy after a few months, then it takes time to decipher the better ones

Best
Mike
That's what J16 has been doing recently.
Come on Mike, no need to talk about Jim's new product like that!

Only joking!

Damn, they have a special discount only for today of $299.99
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  • #122,752
  • Jan 23, 2013 10:30pm Jan 23, 2013 10:30pm
Quoting mbqb11
Oh man I am sorry but that little video made me spit my drink out with laughter

That's the biggest load of garbage out there don't waste your time and money on this stuff Ronald. It's much easier to learn and going to be more beneficial. Spotting pinbars is easy after a few months, then it takes time to decipher the better ones

Best
Mike
Thanks mike for your kind advice. Anyway do you have the dashboard looks like that? ( indicator that tell us when pinbar are made ) thanks for your kind answer
  • #122,753
  • Jan 23, 2013 10:33pm Jan 23, 2013 10:33pm
Quoting Pinbar
That's what J16 has been doing recently.
Come on Mike, no need to talk about Jim's new product like that!

Only joking!

Damn, they have a special discount only for today of $299.99

Thanks pinbar. anyway do you have indicator like that? or how do you search a good pinbar? Do you check manually every pair ? thanks for your information. always success
  • #122,754
  • Jan 23, 2013 10:51pm Jan 23, 2013 10:51pm
Quoting ronald_fsm
Thanks pinbar. anyway do you have indicator like that? or how do you search a good pinbar? Do you check manually every pair ? thanks for your information. always success
Well, I am trading Jarroo's methodology but, of course I look at the Monthly & Weekly PA for an idea of the direction of the strongest possible move.
It does not take very long to check 20 or 30 charts for monthly or weekly PA.
A long time ago I used to use this PA indicator but, have not used it for a long time.
Remember, PA is only a signal, it all depends on where the PA is for it to be effective so, a PA indicator can be quite useless as, it only shows PA, not where the PA came from or any FTA or trouble areas.


Here you go, use this just to find the PA but remember, location, location & location are just as important as the PA.


You will have to play around with the settings to get it how you like it.
NB, it calls a PB & Hammer.

Hope this helps.
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  • #122,755
  • Jan 24, 2013 2:14am Jan 24, 2013 2:14am
Quoting ronald_fsm
Thanks pinbar. anyway do you have indicator like that? or how do you search a good pinbar? Do you check manually every pair ? thanks for your information. always success
Hi Ronald,

hope you don't mind if I chime in...

IMO, these sort of "pinbar hunter" (BTW Steve, you'd better beware with that one, I'm sure you don't want to play the pray ) or other PB/OB/IB indicators only add noise on the chart: it adds text or funny faces all over the chart when you rather want to identify THE best looking setup at THE best location, which is easier with a clean chart.
An indicator will attract your eye to any putative setup, regardless its quality (size, location), while you only want to trade the ones that jumps at you.

Regarding the time spent checking charts, I would say the less the better. I spent some time forcing myself to scan my charts in few seconds only. Now, after 1 month practicing it, I consider it easier not to overlook the charts: if the PA really pops out of the screen, then I may consider trading it. If not, no need to search for a trading opportunity that does not exist...

take care
Slow & steady
  • #122,756
  • Jan 24, 2013 3:53am Jan 24, 2013 3:53am
Quoting mbqb11
Oh man I am sorry but that little video made me spit my drink out with laughter

That's the biggest load of garbage out there don't waste your time and money on this stuff Ronald. It's much easier to learn and going to be more beneficial. Spotting pinbars is easy after a few months, then it takes time to decipher the better ones

Best
Mike
LMAO

Did u notice the ''HUGE'' size of pinbar on M5 timeframe (picture) the guy sais to OPEN TRADE HERE

Trying to scamm ppl really doesnt have limits lol. Please Ronald ignore sites like this!!
  • #122,757
  • Jan 24, 2013 3:54am Jan 24, 2013 3:54am
Quoting patapouer
Hi Ronald,

hope you don't mind if I chime in...

IMO, these sort of "pinbar hunter" (BTW Steve, you'd better beware with that one, I'm sure you don't want to play the pray ) or other PB/OB/IB indicators only add noise on the chart: it adds text or funny faces all over the chart when you rather want to identify THE best looking setup at THE best location, which is easier with a clean chart.
An indicator will attract your eye to any putative setup, regardless its quality (size, location), while you only want to trade the ones that jumps at...
Of course I am aware of how they do more harm than good, that is why I said, "I used to use it a long time ago".
It's just a phase people go through, first they can not find PA, then they use an indicator like that one and see PA all over the place.
It's like the story of the plumber that is called to a house to fix a noisy pipe, he takes out his hammer and hits the pipe, the noise is cured.
He bills the people for 110 Pounds. To which the people complain that hitting the pipe with a hammer has cost them 110 pounds and, they want a breakdown of the bill. The plumber itemizes the bill and it reads, Hammer 10 Pounds, years of experience to know where to hit the pipe 100 pounds.

That indicator in my opinion is worse than useless because, no indicator can differentiate between good PA at a great location and, bad pa at an even worse location. But, the person asked for it and I supplied it.
  • #122,758
  • Jan 24, 2013 4:07am Jan 24, 2013 4:07am
Good day people,hope trading has been wonderful. Due to this thread am gradually having a better understanding of the market, a big thank you to all the seniors trying to help struggling traders like me........I have a few a question though........it has to do with jaroo's method.
1) in case you do not have a swing on your screen do you scroll back to find a swing where price is,like the bull market that has hited the jpy's.Thanks
  • #122,759
  • Jan 24, 2013 4:14am Jan 24, 2013 4:14am
Quoting Pinbar
Of course I am aware of how they do more harm than good, that is why I said, "I used to use it a long time ago".
It's just a phase people go through, first they can not find PA, then they use an indicator like that one and see PA all over the place.
It's like the story of the plumber that is called to a house to fix a noisy pipe, he takes out his hammer and hits the pipe, the noise is cured.
He bills the people for 110 Pounds. To which the people complain that hitting the pipe with a hammer has cost them 110 pounds and, they want a breakdown...
I bet you are
just was making fun of a Pinbar hunter which would hunt anything called a pinbar - thus including your nick and avatar here...
kind of difficult to shift stupid jokes to english
anyway gotta go back to work...
have a nice day all
Slow & steady
  • #122,760
  • Jan 24, 2013 5:02am Jan 24, 2013 5:02am
Hey, about the indi, im using it now, but I use this latest version (has some fixes with 5 digit broker etc):
http://www.forexfactory.com/showthre...22#post4518122
I dont use it to spot pa but to directly check the pairs with possible PA since I have open around 38 pairs to try to trade/practice as much as I can.

About the head and shoulders, thx for the answer Pinbar, Is that signal strong enough not to get in a trade pointing the opposite way? I know its subjective, but I would like to know your oppinion, noobie here
http://i.imgur.com/4AXbKQm.png
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