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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

  • #135,901
  • Jul 14, 2015 2:50am Jul 14, 2015 2:50am
Quoting zamfir
{quote} Adding to Mike's post. When a pinbar forms , wait till the right eye is formed and then breaks. If it breaks right after the PB forms before the right eye is formed , its just a pullback into the current trend. So you will go against the trend and most likely to lose. GBP/USD Daily Pin is fine example of this.
thanks zamfir and mike, at first pins seems very easy to play but to many fine tuning required. thanks for sharing your experience
So you suggest to wait for right eye only if we had So-so pinbar, or you always do that?
  • #135,902
  • Jul 14, 2015 3:08am Jul 14, 2015 3:08am
Is anyone watching this level on USD/JPY? (waiting for PA)
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  • #135,903
  • Jul 14, 2015 4:04am Jul 14, 2015 4:04am
Quoting zamfir
quick 80 pips on EUR/NZD. {image}
Hi Zamfir,

I want to ask about your last image if I got it right.

Was your entry based on break of S/R after BUOB (I made yellow lines for me on your image)? Or is there something more?

Thanks a lot.
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  • #135,904
  • Jul 14, 2015 4:04am Jul 14, 2015 4:04am
Quoting Guitarbloke
Hello traders. I have a question for trend line specialists and fans of the ouvre. Is this trend line drawn the best way for the situation, and does it meet basic TL criteria? I'm interested in your thoughts, not googles. Chart below. Many thanks, GB. {image} GBD/USD D1 PB. 2 orders set for retrace of bar. Saw the H4 PB forming and was all over it, but over exposed on other trades so didn't pull the trigger. Bearish close here under 1.55000 and a key level with trend gives me enough probability and confluence. {image}
Hey GB, I'm certainly no specialist, I'm a novice if anything. But what I've gathered since learning to trade is that you can give 4 different traders the same chart and 3 will draw the TLs completely different from each other, the 4th will do nothing but stand by and criticize them. But if I had to draw TLs on the GBPJPY as it stands, it would be like this:
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  • #135,905
  • Jul 14, 2015 4:17am Jul 14, 2015 4:17am
Quoting Reza.glm
{quote} thanks zamfir and mike, at first pins seems very easy to play but to many fine tuning required. thanks for sharing your experience So you suggest to wait for right eye only if we had So-so pinbar, or you always do that?
you always wait for right eye to form and then enter on the break of the pin.
  • #135,906
  • Jul 14, 2015 4:21am Jul 14, 2015 4:21am
Quoting wellard
{quote} Hi Zamfir, I want to ask about your last image if I got it right. Was your entry based on break of S/R after BUOB (I made yellow lines for me on your image)? Or is there something more? Thanks a lot. {image}
Hope this chart makes it clear.

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  • #135,907
  • Jul 14, 2015 4:24am Jul 14, 2015 4:24am
quick 100 pips on gbp/chf.

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  • #135,908
  • Jul 14, 2015 4:25am Jul 14, 2015 4:25am
Quoting zamfir
{quote} Hope this chart makes it clear. {image}
Thanks for answer.
  • #135,909
  • Jul 14, 2015 4:40am Jul 14, 2015 4:40am
Quoting zamfir
quick 100 pips on gbp/chf. {image}
Nice one.

I noticed on lot of your trades that you are taking IB after break of second bar (actual inside bar) and not after break of first bar as it is mentioned in material.
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  • #135,910
  • Jul 14, 2015 4:43am Jul 14, 2015 4:43am
Quoting wellard
{quote} Nice one. I noticed on lot of your trades that you are taking IB after break of second bar (actual inside bar) and not after break of first bar as it is mentioned in material. {image}
There is no law or rule that it IB must be taken after the break of second bar.

you can enter on the break of IB , that is good enough.
  • #135,911
  • Jul 14, 2015 4:53am Jul 14, 2015 4:53am
Quoting zamfir
{quote} There is no law or rule that it IB must be taken after the break of second bar. you can enter on the break of IB , that is good enough.
Yes, I updated my materials after watching your trades. Thanks.
  • #135,912
  • Jul 14, 2015 4:53am Jul 14, 2015 4:53am
Quoting zamfir
{quote} you always wait for right eye to form and then enter on the break of the pin.
Learned something new
  • #135,913
  • Edited 7:17am Jul 14, 2015 5:38am | Edited 7:17am
Quoting Reza.glm
{quote} Hi GB, i think the way incognito draw the trend line is very right, also more than 2 touch to TL make it reliable. http://www.forexfactory.com/showthre...90#post8379890
Thanks Reza. Yep. And there are some good examples from seasoned traders around the boards of FF too.

Thanks Inco for taking the time to post that chart. I think TL's are useful and some extra confluence.

EDIT: GBP/USD D1 PB trade stopped out for a loss.

EUR/AUD H4 BUOVB. Can it really push through that traffic? Looking for 1:3 RR

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'Fail to plan, plan to fail'
  • #135,914
  • Jul 14, 2015 6:24am Jul 14, 2015 6:24am
Quoting Guitarbloke
{quote} Thanks Donkey! Appreciate you taking the time. GB.
No problem Gb.....I do think the TL on GJ looks cleaner on the 4Hr chart, with current candle trying to break Worth a watch.

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  • #135,915
  • Jul 14, 2015 6:30am Jul 14, 2015 6:30am
has anyone taken the PB on Daily GBPUSD formed yesterday? I didnt see any reasons not take it, no traffic, FTA quite far away.....

i'd be glad to know your thoughts....
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Market can stay irrational longer than you can stay solvent.
  • #135,916
  • Jul 14, 2015 6:36am Jul 14, 2015 6:36am
Quoting FXBat
has anyone taken the PB on Daily GBPUSD formed yesterday? I didnt see any reasons not take it, no traffic, FTA quite far away..... i'd be glad to know your thoughts.... {image}
sorry not a PB on my data feed
  • #135,917
  • Jul 14, 2015 6:40am Jul 14, 2015 6:40am
Quoting FXBat
has anyone taken the PB on Daily GBPUSD formed yesterday? I didnt see any reasons not take it, no traffic, FTA quite far away..... i'd be glad to know your thoughts.... {image}
The right eye has taken out the left eye and the pin, so it looks like the pin bar is no longer valid. On the other hand, if today's bar closes above the false pin bar, we may have a BUOVB signalling potential resumption of the larger uptrend.
  • #135,918
  • Jul 14, 2015 7:17am Jul 14, 2015 7:17am
Quoting FXBat
has anyone taken the PB on Daily GBPUSD formed yesterday? I didnt see any reasons not take it, no traffic, FTA quite far away..... i'd be glad to know your thoughts.... {image}
I took it. Tucked my S/L just above the TL which saved my ass. Waiting for it to retrace so that I can get the hell out of this trade, I'm about 40 pips away from BE.
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  • #135,919
  • Jul 14, 2015 7:30am Jul 14, 2015 7:30am
Quoting FXBat
has anyone taken the PB on Daily GBPUSD formed yesterday? I didnt see any reasons not take it, no traffic, FTA quite far away..... i'd be glad to know your thoughts.... {image}
Hi Fxbat, the fact that others have noted that the left hasn't been touched was something I haven't really taken much thought till now. I am still very much a newbie here but here is my 5c on looking at this daily PB:

- Looking at the weekly, the last weekly bar formed was a bullish PB, if you take that into context, the daily PB was likely having trouble breaking through the weekly PPZ highlighted in blue and that was exactly what happened. If you are trading a daily PB against a weekly PB, there probably should be much more confluence to support taking that daily PB.

- I actually saw price stall at the 1.54500 area and took a profitable trade looking at a pullback to the MA25 and PPZ for a buy. I hope this helps you as I am trying to look at a larger context where price is heading to. Again, I placed a tight stop so there wasn't much risk for a large potential gain and it paid off.

Best,

Fonz
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  • #135,920
  • Edited 8:22am Jul 14, 2015 8:07am | Edited 8:22am
UCAD 4HR, it will depend on your definition of an outside bar whether you'd take a trade here, if you did you'd want to take notice of the blue rectangle and have a plan for when price reaches it.

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The Daily shows the 1.28 area has been strong resistance, I'll wait for more convincing PA before selling.

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