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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

  • #123,181
  • Feb 11, 2013 7:17pm Feb 11, 2013 7:17pm
Quoting pip_la
Still, a good example of an original J16 set up don't you think?

Doesn't look so hot now, does it?
The PB broke by almost 10 pips and if you had taken it, you would now be either stopped out or sweating it out, with a 200 pip draw down, with the SL above the bar.
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  • #123,182
  • Feb 11, 2013 7:45pm Feb 11, 2013 7:45pm
Quoting Pinbar
Doesn't look so hot now, does it?
The PB broke by almost 10 pips and if you had taken it, you would now be either stopped out or sweating it out, with a 200 pip draw down, with the SL above the bar.
I had a pending sell on this but I think a 10 pip buffer on the weekly is WAY to small. I had nearly a 30 pip sell stop. I think those little things go a long way too

Good analysis Steve


Mike
  • #123,183
  • Feb 11, 2013 10:22pm Feb 11, 2013 10:22pm
Hi mike, need opinion on these, put stop sell 30.580.
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  • #123,184
  • Feb 11, 2013 11:25pm Feb 11, 2013 11:25pm
Quoting Pinbar
Doesn't look so hot now, does it?
The PB broke by almost 10 pips and if you had taken it, you would now be either stopped out or sweating it out, with a 200 pip draw down, with the SL above the bar.
my concern was to fight a 20 yen upmove with a 2 yen pinbar...
meine augen sind die sterne
  • #123,185
  • Feb 12, 2013 1:33am Feb 12, 2013 1:33am
Quoting mbqb11
couple charts I am watching, nice confluence level that gets my attention every time

Mike
Hi Mike,

Thanks for your analysis

I got a problem with your posts though: it makes me look at my charts aiming at finding the same sort of setup...

Can we consider, H&S put apart, that the NZDCAD shows the same sort of confluence?
0.84RN is a major PPZ, price has tested it quite often these last months and is flipping around for the last 2 weeks, with a sort of congestion though the upper TL is not as nice as one would expect.
A MACD bearish divergence (as far as I can see it...) would suggest a move down, but let PA show us the way

thanks,

take care,
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Slow & steady
  • #123,186
  • Feb 12, 2013 1:55am Feb 12, 2013 1:55am
Speaking of breakouts,

Would this BEOB on D1 Silver have had your attention?
In traffic but close below the bottom TL of the consolidation wedge (or triangle or flag, don't know how you guys call this )
Plus EMAs confluence + mini D1 PPZ by 31.6 something.

I hope I don't clutter the thread with my questions, I have to admit that the more I read and spend time on charts, the more questions I have...

thanks,

take care,
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Slow & steady
  • #123,187
  • Feb 12, 2013 2:03am Feb 12, 2013 2:03am
Flag?
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lieber aufrecht sterben als kniend leben
  • #123,188
  • Feb 12, 2013 2:10am Feb 12, 2013 2:10am
NZDUSD...possible Gartley
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lieber aufrecht sterben als kniend leben
  • #123,189
  • Feb 12, 2013 5:50am Feb 12, 2013 5:50am
Quoting mbqb11
Hey Dan

I scan the Russell3000 once a week. Sometimes I don't make it through all of them but that's generally my goal

Best
Mike
Thanks for the reply Mike. What do you look for when you do your scanning? I am assuming here that you do not look at at the chart of each of the 3000 instruments, or may be I am wrong and you do!
  • #123,190
  • Feb 12, 2013 6:38am Feb 12, 2013 6:38am
Hi guys ;

Isnt it a retest after the enfulging bearish pattern ?

Regards...

http://img94.imageshack.us/img94/4479/eurhafta.gif

Imagination rules the world ...
Selym Hyll Return This Year: na
  • #123,191
  • Feb 12, 2013 6:52am Feb 12, 2013 6:52am
Quoting selym_co
Hi guys ;

Isnt it a retest after the enfulging bearish pattern ?

Regards...
Hi selym,
I think that in order to be bearish engulfing bar, we need high of the bar exceed previous barīs high.

Mav
  • #123,192
  • Feb 12, 2013 7:05am Feb 12, 2013 7:05am
Quoting Mav13
Hi selym,
I think that in order to be bearish engulfing bar, we need high of the bar exceed previous barīs high.

Mav
Thank you very much ...
Imagination rules the world ...
Selym Hyll Return This Year: na
  • #123,193
  • Feb 12, 2013 7:16am Feb 12, 2013 7:16am
Hey guys,

I have a decent understanding of the material and I am starting to trade with a very small account to demo, but I would like to ask a couple of questions.
I am trading as well as studying, so I can keep an eye on the charts for the most part of the day.

How many pairs should I start off with, and which ones (So that they are not to correlated)?

How often should I look at my charts if I am going to be trading mostly the 4 hour, or should I just set alerts for the important SnR zones and have a look at the end of the day?

Once I have my watch list, should my preparation for the trading day consist of drawing levels that I think are significant and setting price alerts for those levels?

Thanks
Cloud
  • #123,194
  • Feb 12, 2013 7:20am Feb 12, 2013 7:20am
Quoting selym_co
Thank you very much ...
No problem, selym. By the way here is link for useful summary of pinbars, inside bars and outside bars created by Pinbar.

http://www.forexfactory.com/showthre...641#post634864
  • #123,195
  • Feb 12, 2013 8:15am Feb 12, 2013 8:15am
Quoting ping-ping
Hi mike, need opinion on these, put stop sell 30.580.
Hey ping

What are you putting your sell stop based on here?

Best
Mike
  • #123,196
  • Feb 12, 2013 8:20am Feb 12, 2013 8:20am
EURCAD H4 setup forming

Good looking Pin with strong close and good wick, at PPZ (zoom out to see this level in action) with BRN+Fibo confluence
The SL would eb a bit wide here but FTA is at 1 RR so looks good enough.

Anybody else on it?
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  • #123,197
  • Feb 12, 2013 8:50am Feb 12, 2013 8:50am
Quoting patapouer
Hi Mike,

Thanks for your analysis

I got a problem with your posts though: it makes me look at my charts aiming at finding the same sort of setup...

Can we consider, H&S put apart, that the NZDCAD shows the same sort of confluence?
0.84RN is a major PPZ, price has tested it quite often these last months and is flipping around for the last 2 weeks, with a sort of congestion though the upper TL is not as nice as one would expect.
A MACD bearish divergence (as far as I can see it...) would suggest a move down, but let PA...
Hey P

I think the nzd/cad is mostly just stuck in a huge box. I dont' see much of a H&S anywhere. I would essentially be watching where we are now as well as the steep rising TL for clues myself

Best
Mike
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  • #123,198
  • Feb 12, 2013 8:52am Feb 12, 2013 8:52am
Quoting patapouer
Speaking of breakouts,

Would this BEOB on D1 Silver have had your attention?
In traffic but close below the bottom TL of the consolidation wedge (or triangle or flag, don't know how you guys call this )
Plus EMAs confluence + mini D1 PPZ by 31.6 something.

I hope I don't clutter the thread with my questions, I have to admit that the more I read and spend time on charts, the more questions I have...

thanks,

take care,
Makes sense P, and ask away

Notice the inside bar after the breakout price runs out of places to go then POP. That's what a breakout is

Best
Mike
  • #123,199
  • Feb 12, 2013 8:54am Feb 12, 2013 8:54am
Quoting aserbfx
my concern was to fight a 20 yen upmove with a 2 yen pinbar...
Yeah, Aser there was that also, given the other factors involved I thought it best to not even mention it.
But, that was as you say, a major consideration also.
  • #123,200
  • Feb 12, 2013 9:03am Feb 12, 2013 9:03am
Quoting danjuma
Thanks for the reply Mike. What do you look for when you do your scanning? I am assuming here that you do not look at at the chart of each of the 3000 instruments, or may be I am wrong and you do!
Hey D

Yes I do go through each chart one at a time. I can do it pretty fast though as I have seen enough charts to know when I need to stop. Many charts have clearly nothing going on. I don't like to use a scanner or anything like that I don't believe any can see what my eye can see so I dont trust them

Best
Mike
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