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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

  • #130,161
  • Mar 7, 2014 3:26am Mar 7, 2014 3:26am
Quoting makwana
I saw this long pin bar with a bounce off 1.62 level. I know the overall trend is down but price has always seemed to stall and reverse around this level. My only reservation is the NFP due today which could move the trade either way, however ignoring the announcement, would anyone find this setup interesting? {image}
Pair is ranging and pin didn't close above FTA, so i wouldn't. Just my thought
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  • #130,162
  • Mar 7, 2014 6:47am Mar 7, 2014 6:47am
Quoting makwana
I saw this long pin bar with a bounce off 1.62 level. I know the overall trend is down but price has always seemed to stall and reverse around this level. My only reservation is the NFP due today which could move the trade either way, however ignoring the announcement, would anyone find this setup interesting? {image}
This pair is in a range. FTAs are everywhere. This doesn't mean you can't trade it if the location is good and the pin bar has a good size. I trade in the traffic if I like the size of the pin and location. This I think is marginal. The pin bar isn't small but there are also bars bigger than this pin bar. I like the location it's rejecting. You decide if it's good enough for you to trade.
  • #130,163
  • Edited 9:31am Mar 7, 2014 9:20am | Edited 9:31am
Quoting hginvestor
EURAUD - Anyone is looking for that pin on D1? Pros: Trend up + trendline nice Pinbar good area outsidebar on H4 What is your opinion on this? {image} Cheers, HG
It is not a PB. The open and close prices of a PB should be within the inside of the previous bar.

Moreover, the whole bar is beyond the 1.5300 pivot zone, which means that price might really struggle to get back to the other side of the PZ. Ideally, you want the wick to move across (or touch) the PZ and then move back to the other side of the PZ.

There is also have a moderate degree of traffic.

The trade might work, but it is not a PB trade -- and certainly not an optimum one.
Forex is for the lifestyle.
  • #130,164
  • Edited 9:56am Mar 7, 2014 9:38am | Edited 9:56am
Quoting makwana
I saw this long pin bar with a bounce off 1.62 level. I know the overall trend is down but price has always seemed to stall and reverse around this level. My only reservation is the NFP due today which could move the trade either way, however ignoring the announcement, would anyone find this setup interesting? {image}
I agree with the previous comments. The one thing that I would emphasize is that the entire PB lies beyond the 1.6400 PZ, which means that you have a very limited space within which to take profit before there is a good likelihood that price reverses. As I write this post, I just noticed that price has stalled at exactly that level. We shall see if it breaks through. I also did not take the trade because of the level of traffic.

I think that there is a good chance of price reaching that upper trend line, but it is just not the type of high-probability setup that this thread emphasizes. If I took that trade, I would have taken profit at the 1.6400 level for a small profit rather than risk a subsequent violent price reversal.
Forex is for the lifestyle.
  • #130,165
  • Edited 3:46pm Mar 7, 2014 10:49am | Edited 3:46pm
Quoting Tail Gunner
{quote} I agree with the previous comments. The one thing that I would emphasize is that the entire PB lies beyond the 1.6400 PZ, which means that you have a very limited space within which to take profit before there is a good likelihood that price reverses. As I write this post, I just noticed that price has stalled at exactly that level. We shall see if it breaks through. I also did not take the trade because of the level of traffic. I think that there is a good chance of price reaching that upper trend line, but it is just not the type of high-probability...
1.6400 is an important PPZ that price respected a lot of times. I didn't take the trade because of that PPZ and I wanted the pin bar to be a little bigger. It can still work though. I think the path of least resistance is up.

A better signal was yesterday on 4hr. A big BUOB closer to the source than this one. I'm not always in front of charts and I missed it. I think I would have taken the trade if I would have saw it and would have taken profit at 1.6400.
  • #130,166
  • Mar 7, 2014 4:21pm Mar 7, 2014 4:21pm
usd/jpy -- weekly BUOB:

Is the position of this BUOB considered a true swing-low? Interestingly, it engulfs the three previous bars.

Thanks. Have a great weekend.
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Forex is for the lifestyle.
  • #130,167
  • Mar 7, 2014 4:42pm Mar 7, 2014 4:42pm
Quoting james16
CHARTS {quote} {image} {image} {image} {image}
In the first chart James refers to a "Base" system or entry . Does anyone know to what he is referring or what constitutes a "base" system or entry?
Thanks in advance chaps.
every Saint has a past. Every Sinner has a Future
  • #130,168
  • Mar 7, 2014 5:09pm Mar 7, 2014 5:09pm
Quoting turnip15
{quote} In the first chart James refers to a "Base" system or entry . Does anyone know to what he is referring or what constitutes a "base" system or entry? Thanks in advance chaps.
Post number?
Forex is for the lifestyle.
  • #130,169
  • Mar 7, 2014 6:44pm Mar 7, 2014 6:44pm
Quoting hginvestor
EURAUD - Anyone is looking for that pin on D1? Pros: Trend up + trendline nice Pinbar good area outsidebar on H4 What is your opinion on this? {image} Cheers, HG
I think it looks like a head and shoulders pattern on the weekly TF, but we will have to wait and see what happens.
  • #130,170
  • Mar 7, 2014 9:16pm Mar 7, 2014 9:16pm
BEEB on GBPAUD weekly
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you are the creator of your own destiny-Shivyog
  • #130,171
  • Mar 8, 2014 11:19am Mar 8, 2014 11:19am
Quoting Tail Gunner
{quote} Post number?

Sorry for the delay TG.

http://www.forexfactory.com/showthre...20#post4543920
every Saint has a past. Every Sinner has a Future
  • #130,172
  • Mar 8, 2014 1:26pm Mar 8, 2014 1:26pm
Quoting turnip15
{quote} Sorry for the delay TG. http://www.forexfactory.com/showthre...20#post4543920
I am guessing, by the context, that "base entry" means the location of the entry of the trade -- at the base created by the retrace of price back to the new support level.

I had read miscellaneous references to "touch trading" in this thread, but never understood the reference. I did know that the method did not involve PA, so I never followed up. I learned quite a bit just now from reviewing those charts and the ones on the previous page. Thanks.

You see those setups all the time. I assume that you must be highly selective and must do quite a bit of demoing, just like the J16 method. Most times, price will advance in an equal ratio to the price range on the other side of the pivot zone, so I can see how learning this method would be highly lucrative.
Forex is for the lifestyle.
  • #130,173
  • Mar 9, 2014 1:02am Mar 9, 2014 1:02am
Anyone looking at AUDJPY?

Pinbar off 94.00.

On the otherhand, the pin is relatively smaller than the previous candle.

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  • #130,174
  • Mar 9, 2014 1:18am Mar 9, 2014 1:18am
Quoting fascist
Anyone looking at AUDJPY? Pinbar off 94.00. On the otherhand, the pin is relatively smaller than the previous candle. {image}
Price is definitely retreating from a PZ. The big problem is the enormous amount of traffic that price will need to battle during its retracement.

Price will also need to pierce that declining TL (which your chart does not show).
Forex is for the lifestyle.
  • #130,175
  • Mar 9, 2014 3:18am Mar 9, 2014 3:18am
Quoting Tail Gunner
{quote} Price is definitely retreating from a PZ. The big problem is the enormous amount of traffic that price will need to battle during its retracement. Price will also need to pierce that declining TL (which your chart does not show).
Very strong upmove for the past few days. I expect a stronger retrace back to daily support at 93.00
  • #130,176
  • Mar 9, 2014 4:35am Mar 9, 2014 4:35am
Quoting fascist
{quote} Very strong upmove for the past few days. I expect a stronger retrace back to daily support at 93.00
be careful here, sure there is a pinbar at a supply level, but initial upmove was pretty quick and straight, this market is bullish. And I dont want to fight the trend
Hero calls followed by margin calls...
  • #130,177
  • Mar 9, 2014 5:28am Mar 9, 2014 5:28am
This pair has broken above its inverted head and shoulder pattern on the back of last weeks rally. We will be looking to establish longs in this pair on signs of reversal for a move towards the 0.95 region. please opinion
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  • #130,178
  • Mar 9, 2014 7:45am Mar 9, 2014 7:45am
guys i want to know ur opinion on GBPAUD BEEB on weekly
you are the creator of your own destiny-Shivyog
  • #130,179
  • Mar 9, 2014 9:15am Mar 9, 2014 9:15am
Quoting lsolanki
guys i want to know ur opinion on GBPAUD BEEB on weekly
Well Isolanki the BEOB on the weekly for is not something I would trade because of the way its headed into support immediately. besides the up trend is too strong will pass on this though.

Al
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  • #130,180
  • Mar 9, 2014 12:25pm Mar 9, 2014 12:25pm
Quoting lsolanki
guys i want to know ur opinion on GBPAUD BEEB on weekly
Aside from the issues mentioned by Albus, there is also a lack of space.
Forex is for the lifestyle.
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