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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

  • #136,861
  • Sep 8, 2015 4:48am Sep 8, 2015 4:48am
Quoting Guitarbloke
{quote} Good spot to look for shorts for me, but if price broke above that trend line, it may be good for a few pips long to around 1250 area. All the best Kershey!
Yeah, could be better could be worse.
As you might have recognized my focus shifted a bit to daily range breakouts.
Keep on rocking the charts.

K
  • #136,862
  • Sep 8, 2015 5:19am Sep 8, 2015 5:19am
1 hour pinbar on GBPUSD. Bounced off a recent resistance point and BRN
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  • #136,863
  • Sep 8, 2015 5:28am Sep 8, 2015 5:28am
Guys I'd like to know your opinion. There was a nice BEOVB on the EUR/SGD 4 hour bouncing off of resistance. I placed a sell limit order so I can enter on a retrace, which made sense to me, but the price headed straight down and I missed the trade.

How would you guys play this setup?
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Only those who dare to fail greatly can ever achieve greatly. - R. Kennedy
  • #136,864
  • Sep 8, 2015 6:05am Sep 8, 2015 6:05am
I guess the obvious answer is to take it on the break of the low, that's the problem with waiting for the retrace is that you may miss a trade, it may be a personal preference thing, the area for the trade is pretty good with a lot going for it so there's always a chance it will run without any retrace. You could of course use two orders.

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  • #136,865
  • Sep 8, 2015 6:07am Sep 8, 2015 6:07am
Quoting ld73
{quote} Guitarbloke Hi, I've been watching your trading, i have the question of USD/JPY H1 IB pattern, why did you decide in that way, and not wait for the above to high of inside bar? Sorry for my bad english
Hey ID. When price closed above BRN 119.000 and with bullish inside bars, PA at a swing low, plus with the overall previous uptrend, that was enough for me to get in early rather than wait for a break above the mother bar. GB

EUR/AUD H1 DBHLC. Entry about 37 bars back marked by red arrow. Price took awhile to take off lol. This pattern is probably a stronger signal on higher time frames.

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'Fail to plan, plan to fail'
  • #136,866
  • Sep 8, 2015 7:04am Sep 8, 2015 7:04am
Hi,

Can any more experienced traders help me understand why this pinbar did not work? I thought it was a good shape, in a good position but obviously it didn't end up working. I'd love to get some feedback on it if possible and understand if it was just one of those things or a mistake entering it and why.
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  • #136,867
  • Sep 8, 2015 7:17am Sep 8, 2015 7:17am
Quoting Martynp
Hi, Can any more experienced traders help me understand why this pinbar did not work? I thought it was a good shape, in a good position but obviously it didn't end up working. I'd love to get some feedback on it if possible and understand if it was just one of those things or a mistake entering it and why. {image}
My 2 cents, 1 h time frame, and prior bar is scary bullish Level is good though
  • #136,868
  • Edited 7:35am Sep 8, 2015 7:20am | Edited 7:35am
Quoting Martynp
Hi, Can any more experienced traders help me understand why this pinbar did not work? I thought it was a good shape, in a good position but obviously it didn't end up working. I'd love to get some feedback on it if possible and understand if it was just one of those things or a mistake entering it and why. {image}
Hey Martin. There is a much more significant PPZ further above at around 1.55000 area. It looks like that is where price might be heading. A better area to look for shorts I reckon. If you zoom out on the daily chart and draw a S/R line at around 1.55000 you might see how price has a bit further to go before it hits a decent resistance zone. There are also recent highs to the left around 1.5440 area which price may need to reach and reject before/if it were to go south. Anyway, Just my amateur observation. Best wishes, GB.
'Fail to plan, plan to fail'
  • #136,869
  • Sep 8, 2015 7:23am Sep 8, 2015 7:23am
Quoting Guitarbloke
{quote} Hey ID. When price closed above BRN 119.000 and with bullish inside bars, PA at a swing low, plus with the overall previous uptrend, that was enough for me to get in early rather than wait for a break above the mother bar. GB EUR/AUD H1 DBHLC. Entry about 37 bars back marked by red arrow. Price took awhile to take off lol. This pattern is probably a stronger signal on higher time frames. {image}
Thx
All in your hands
  • #136,870
  • Sep 8, 2015 8:50am Sep 8, 2015 8:50am
Quoting Martynp
Hi, Can any more experienced traders help me understand why this pinbar did not work? I thought it was a good shape, in a good position but obviously it didn't end up working. I'd love to get some feedback on it if possible and understand if it was just one of those things or a mistake entering it and why. {image}
Hey Marty

These are classic bars that trip people up. You identified a pinbar at a swing high and we think that's about it and boom it stops you out

It's actually quit easy to avoid these after awhile

Check your confluence always. What's the story for price to reverse here? If we look price is trending up STRONG. Notice if we zoom out a bit(that's the reason I keep the zoom I did which someone on youtube said I was insane for doing lol). You can see vs that uptrend it's not all that interesting. Even the proceeding bullish bar is bigger.

So again always think about your STORY. Use the bar as a trigger into a larger story that has strong confluence

Keep it up these are the best things you can learn from

Mike
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  • #136,871
  • Sep 8, 2015 8:52am Sep 8, 2015 8:52am
Quoting ChiLL 14
Guys I'd like to know your opinion. There was a nice BEOVB on the EUR/SGD 4 hour bouncing off of resistance. I placed a sell limit order so I can enter on a retrace, which made sense to me, but the price headed straight down and I missed the trade. How would you guys play this setup? {image}
Hey Chill

I find that situation tricky too. Because the true most important area is your top resistance area but the BEOB high is off that area so unless we take a VERY deep retrace we aren't trading around that area which is where i want to be trading personally. I'd rather that beob sit higher up on that area so we can put a more logical retrace order in. Sometimes you gotta just watch them

Best
Mike
  • #136,872
  • Sep 8, 2015 9:24am Sep 8, 2015 9:24am
Gbpusd 4hr, s & r area.

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  • #136,873
  • Sep 8, 2015 9:56am Sep 8, 2015 9:56am
Quoting ChiLL 14
Guys I'd like to know your opinion. There was a nice BEOVB on the EUR/SGD 4 hour bouncing off of resistance. I placed a sell limit order so I can enter on a retrace, which made sense to me, but the price headed straight down and I missed the trade. How would you guys play this setup? {image}
If you're confident in this setup, you could wait for retracement. Here's my pet strategy.
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1.02^200
  • #136,874
  • Sep 8, 2015 10:21am Sep 8, 2015 10:21am
USD/CHF has been in a very tight range below .98 ever since it broke the upper box on the chart below.
I'm looking for bearish PA from the S/R area .98

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Have a good day!
It's a sport, an artform and a science.
  • #136,875
  • Sep 8, 2015 4:07pm Sep 8, 2015 4:07pm
mbqb11 what u think about WTI BUOB? on daily time frame
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  • #136,876
  • Edited Sep 9, 2015 5:51am Sep 8, 2015 4:28pm | Edited Sep 9, 2015 5:51am
"Sitting in the bush with a rifle" provided results))
I took profitable trade at last & I begin to believe in myself again!

GBPUSD
2 day BUPB on weekly s/r and 50% fib. Closed half of my position & moved to BE.
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  • #136,877
  • Sep 8, 2015 4:29pm Sep 8, 2015 4:29pm
Quoting analysttrade
mbqb11 what u think about WTI BUOB? on daily time frame {image}
Hey Analyst

I'd be careful that's a lot of traffic there

I think it's better to watch it develop as a wedge for now


Best
Mike
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  • #136,878
  • Edited 9:08pm Sep 8, 2015 8:18pm | Edited 9:08pm
OIL. H1 IB/Consolidation breakout. Locked in a few pips.

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AUD/USD H4 BUOVB.

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'Fail to plan, plan to fail'
  • #136,879
  • Sep 8, 2015 9:35pm Sep 8, 2015 9:35pm
Quoting Guitarbloke
OIL. H1 IB/Consolidation breakout. Locked in a few pips... AUD/USD H4 BUOVB...
Hey G, I see you choose some really sweet spots as your tp. May I know why you chose the level especially for AUDUSD trade shown in the quoted post. Thanks.
  • #136,880
  • Sep 9, 2015 12:33am Sep 9, 2015 12:33am
Quoting albus999
{quote} Hey G, I see you choose some really sweet spots as your tp. May I know why you chose the level especially for AUDUSD trade shown in the quoted post. Thanks.
Hi Albus. Yes. I chose to TP just below what I see as next major resistance around .73000 zone. There are TA's before that of course, and I may end up taking profit sooner. I think the Aussie has plenty of room to rise (and fall). Long term downtrend, so i am keen to get a little profit at least lest price turn around. GB.
'Fail to plan, plan to fail'
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