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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

  • #125,861
  • Jun 3, 2013 8:19am Jun 3, 2013 8:19am
Quote
For the first chart, I entered based on the break of the BUOB at the trendline. A pinbar formed so I'm putting a tight stop there. I'm not sure whether it's just a short term pullback or it's really a reversal. How would you manage it if you're in the trade?
Hi Ken
I really don't want to sound roughlly but James and many others have always said to treat trading as a business...let's think...if trading would be your business as only income to pay the bills, mortages rate , health assurance, etc...would you really let OTHER people to decide the faith of your profits for you ? Would you be influenced by OTHER people decisions in managing YOUR OWN account ???
Sorry if I am so directly, but please belive me ..taking YOUR OWN decisions for YOUR account it is kind of responsability sign for your account as your business and making your own experience, even if sometimes maybe you will make kistakes as part of the busuness, it will really help to grow your trading and money management knowledge !....ovviously sharing and reading the others experience is part of this thread spirit !
Quote
For the second chart, may I know, why do you think that the trendline is not a good one? Thanks again!

This is how I see it and I would use as information for my money management !



[/quote]
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Nothing personal,just business
  • #125,862
  • Jun 3, 2013 8:35am Jun 3, 2013 8:35am
Hello, traders!
I trade on a demo for a month and a half james16 system.
I frequently encountered patterns that sometimes behave "properly" but their positioning bother me.
Could you tell me which ones to avoid to trade?
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Your best teacher is your last mistake ...
  • #125,863
  • Jun 3, 2013 8:41am Jun 3, 2013 8:41am
Quoting b3g1nn3er
Hello, traders! I trade on a demo for a month and a half james16 system. I frequently encountered patterns that sometimes behave "properly" but their positioning bother me. Could you tell me which ones to avoid to trade? {image} {image} {image}
Hey B


Glad to hear you demoing

All those patterns are technically correct for me except the middle outside bar one. That one is a neutral bar since the open and close are near the middle of the bar with equal "tails". This shows indecision in the marketplace. Some people might give it a BUOB title, but I would not myself.

Best
Mike
  • #125,864
  • Jun 3, 2013 8:52am Jun 3, 2013 8:52am
some good monthly bars on equities after last few weeks

Here is one of them I will be watching see how we break
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  • #125,865
  • Jun 3, 2013 9:00am Jun 3, 2013 9:00am
Quoting mbqb11
{quote} Hey B Glad to hear you demoing All those patterns are technically correct for me except the middle outside bar one. That one is a neutral bar since the open and close are near the middle of the bar with equal "tails". This shows indecision in the marketplace. Some people might give it a BUOB title, but I would not myself. Best Mike

Thanks, Mike
thanks a lot for your reply.

I forgot to post another type of pin bar I've ever met.
Мaybe I'm boring, but please tell if is OK
Thanks in advance again!
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Your best teacher is your last mistake ...
  • #125,866
  • Jun 3, 2013 9:17am Jun 3, 2013 9:17am
Quoting b3g1nn3er
{quote} Thanks, Mike thanks a lot for your reply. I forgot to post another type of pin bar I've ever met. Мaybe I'm boring, but please tell if is OK Thanks in advance again! {image}
Hey B

Ask away!

That one is still fine. Generally I wouldn't want such a big body of the bar.

But remember it's not jut the bar but how that bar is located and the confluences/location as you progress. Keep digging into the ones that you are having trouble with etc. They are all good learning lessons

Best
Mike
  • #125,867
  • Jun 3, 2013 9:29am Jun 3, 2013 9:29am
Quoting mbqb11
{quote} Hey B Ask away! That one is still fine. Generally I wouldn't want such a big body of the bar. But remember it's not jut the bar but how that bar is located and the confluences/location as you progress. Keep digging into the ones that you are having trouble with etc. They are all good learning lessons Best Mike
Thanks !!!
Your best teacher is your last mistake ...
  • #125,868
  • Jun 3, 2013 11:26am Jun 3, 2013 11:26am
Whats your view on this pair Mike. Havent closed yet but if it close as it is now it will be a huge 3 day pinbar. My broker dont show data feed on this pair that is older then 2 years but when i look at other feeds i can se that price havent been this high since the beginning of 2009, so this will be somewhat of a double top. 10.0 is also a huge RN and ATH of this pair is around 11.00
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  • #125,869
  • Jun 3, 2013 11:33am Jun 3, 2013 11:33am
Quoting ekling
Whats your view on this pair Mike. Havent closed yet but if it close as it is now it will be a huge 3 day pinbar. My broker dont show data feed on this pair that is older then 2 years but when i look at other feeds i can se that price havent been this high since the beginning of 2009, so this will be somewhat of a double top. 10.0 is also a huge RN and ATH of this pair is around 11.00 {image}
Hey E


I would have looked at gbp/zar or usd/zar as they closed much better

Some people played these as big pins at swings. I stayed out just didn't feel quite right about it so I decided to stand aside. Price retraced dead on to the left eyes and broke strong. I wouldn't personally go looking to play a 3day bar myself, I don't do that too much as I would have just played the one day in this case

Best
Mike
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  • #125,870
  • Jun 3, 2013 12:55pm Jun 3, 2013 12:55pm
2day pin bar it's possible to form on EUR NZD daily. The BRN 1.6000 is quite close but I think the trend line will be broked.
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  • #125,871
  • Jun 3, 2013 2:37pm Jun 3, 2013 2:37pm
gbp/cad is forming a pinbar on the daily chart.
macd may show divergence soon, too.
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meine augen sind die sterne
  • #125,872
  • Jun 3, 2013 2:52pm Jun 3, 2013 2:52pm
I like this setup, could go for a break either way. Preferable a big fat beob in a couble of days
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  • #125,873
  • Jun 3, 2013 3:50pm Jun 3, 2013 3:50pm
Quoting aserbfx
gbp/cad is forming a pinbar on the daily chart. macd may show divergence soon, too. {image}

Looks so nice, but so tricky pair
If not up, then down, otherwise sideways :-)
  • #125,874
  • Jun 3, 2013 4:13pm Jun 3, 2013 4:13pm
Quoting g_j_hook@yah
speaking of good levels PB.. how about this BRN 100.00..... good place to look for some action here.. jon {image} {image}

Yeah, a Rounded Retest.
  • #125,875
  • Jun 3, 2013 4:23pm Jun 3, 2013 4:23pm
Quoting Pinbar
{quote} Yeah, a Rounded Retest.

Bammm....


jon
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PATIENCE... DISCIPLINE
  • #125,876
  • Jun 3, 2013 4:38pm Jun 3, 2013 4:38pm
Quoting meshka
another great chart {image}
Did you trade it ?
every Saint has a past. Every Sinner has a Future
  • #125,877
  • Jun 3, 2013 5:25pm Jun 3, 2013 5:25pm
Quoting g_j_hook@yah
{quote} Bammm.... jon {image}
Did you trade this? That rounded retest didn't work for me.
  • #125,878
  • Jun 3, 2013 5:31pm Jun 3, 2013 5:31pm
Quoting Flamegs23
{quote} Did you trade this? That rounded retest didn't work for me.

no, may trade a retracement...

jon



http://www.forexfactory.com/showthre...36#post6726736
PATIENCE... DISCIPLINE
  • #125,879
  • Jun 3, 2013 11:51pm Jun 3, 2013 11:51pm
Quoting fxgroup
{quote} Hi Ken I really don't want to sound roughlly but James and many others have always said to treat trading as a business...let's think...if trading would be your business as only income to pay the bills, mortages rate , health assurance, etc...would you really let OTHER people to decide the faith of your profits for you ? Would you be influenced by OTHER people decisions in managing YOUR OWN account ??? Sorry if I am so directly, but please belive me ..taking YOUR OWN decisions for YOUR account it is kind of responsability sign for your account...
{image}[/quote]Hi Fx,

Thank you for the reminder. I will remember that.

Kenny
  • #125,880
  • Edited 2:59am Jun 4, 2013 2:47am | Edited 2:59am
Hi all,
hereīs new trade Iīm currently in. Itīs EURZAR, I played pin bar at swing high. Obviously the disadvantage here is the big bullish bar that preceded the pin bar, but I liked size of this pin bar and its close, also I read somewhere (in Pring or Elder) that these big bars at the end of the trend are often one last push of bulls (or bears in downtrend) and then we can often see a big move in opposite direction because bulls are now out of steam. Well I hope it makes sense at least a little.
I reduced my risk and moved SL to BE. I tried to mark in my chart where I expect problems (expecially the second line which is top of previous consolidation formation and thereīs also 12 round number).

I will be happy for any comments

Mav
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