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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

  • #137,641
  • Edited 5:59pm Nov 24, 2015 4:56pm | Edited 5:59pm
yea ,but whats your theory on why


Quoting Kershey
typical loosing pin {image}
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #137,642
  • Edited 5:17pm Nov 24, 2015 5:03pm | Edited 5:17pm
power of probability says this will end red this week, poss still in mini range
upper res is firm
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #137,643
  • Nov 24, 2015 5:24pm Nov 24, 2015 5:24pm
In actual fact the straight loss of that pin is a signal in itself ,with set parameters of the bearish candle
you can see by the amount of buyers next

Quoting Kershey
typical loosing pin {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #137,644
  • Nov 24, 2015 6:30pm Nov 24, 2015 6:30pm
Quoting mbqb11
{quote} yes that is a mini box that sits on top of the larger box from before. I use the bottom of the box to buy. In this case there was a pinbar but notice that pinbar closed under the box and BRN. I would NOT buy the break of that pinbar as you would trade back into that area I do not consider anything her ea breakout or breakout pattern. Just a simple strong PPZ with good confluence here for a touch trade Hope that helps Mike
we can see that box low hold now at the BRN so it's a good time to get to b/e. At this point this trade has done it's thing. I think it has a good chance to test the highs from last week but i'm not going to take a big loss

This is dynamic r:r. Although my initial risk was 1:1 about, my true risk was much lower as I would look to cut out under the BRN making my r:r absolutely great. That's something you guys hear me speak about often
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  • #137,645
  • Edited Nov 25, 2015 4:05am Nov 24, 2015 10:37pm | Edited Nov 25, 2015 4:05am
Update: EUR/AUD D1 - manually trailed S/L. Stopped out for 105 pips profit. May keep going lower, but happy with that and can always get in again later on a pullback with PA. USD/JPY H1 - still in. original PB signal invalidated as price took it out, but SL not hit. Bought again at better price and moving up. NZD/CAD - Currently up 37 pips.

NZD/CHF W1 BUOVB off PPZ. If price can break through 0.67000 zone, we could be off to the races.

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Edit: XAU/USD H4 BEOVB. Late entry as only just caught it.

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'Fail to plan, plan to fail'
  • #137,646
  • Nov 25, 2015 12:16am Nov 25, 2015 12:16am
Hi All,

Nice divergence, VBRN 0.7 rejection, forming a double bottom pattern... PA is the challenge here

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Adhav
  • #137,647
  • Nov 25, 2015 12:59am Nov 25, 2015 12:59am
Quoting Guitarbloke
Good luck Bill. Wonder if there's an Asian session focused thread around here or elsewhere who might know.
Thanks GB, yes EURSGD went well although it did frighten the life out of me with such a big retrace! Was touch and go there for awhile.
Yes it would be nice to have a J16 based Asian session focused thread as that's when I do most of my stuff

Happy Trading,
Bill
  • #137,648
  • Nov 25, 2015 1:35am Nov 25, 2015 1:35am
Hi,

Breakout wit pullback, and price rejected at previous resistance, waiting for PA.

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Adhav
  • #137,649
  • Nov 25, 2015 4:08am Nov 25, 2015 4:08am
Quoting Adhavan
Hi, Breakout wit pullback, and price rejected at previous resistance, waiting for PA. {image} Adhav
Looks like you're making some pips there Adhavan.
'Fail to plan, plan to fail'
  • #137,650
  • Nov 25, 2015 4:32am Nov 25, 2015 4:32am
EURAUD D1 BEOB. Following the downtrend.
Seeing i'm going to bed shortly I have moved my s/l up to b/e (so as I can sleep soundly).

Have a great Euro/US session y'all.

Bill
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  • #137,651
  • Nov 25, 2015 8:02am Nov 25, 2015 8:02am
Quoting Kershey
typical loosing pin {image}
Pins can be tricky so beware to trade them like u were teached to. Like Mike would say, look the story behind.

What made this pin? How did price moved?

You saw the major S&R area around 2.02 right! So price broke past that area and pulled back to it (pin is made).
Support comes resistance!!

Sure, price could go up also, but bias here were more on a downside move.
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  • #137,652
  • Nov 25, 2015 9:04am Nov 25, 2015 9:04am
Quoting gasgas
{quote} Pins can be tricky so beware to trade them like u were teached to. Like Mike would say, look the story behind. What made this pin? How did price moved? You saw the major S&R area around 2.02 right! So price broke past that area and pulled back to it (pin is made). Support comes resistance!! Sure, price could go up also, but bias here were more on a downside move. {image}
Look at that Pin with its' nose sticking into resistance ! I think Mike likes these as a reverse pin trade (Short the pin head in expectation that the price will reverse and "eat" the Pins' "tail.") And your stop would be very small.
every Saint has a past. Every Sinner has a Future
  • #137,653
  • Nov 25, 2015 9:49am Nov 25, 2015 9:49am
Quoting turnip15
{quote} Look at that Pin with its' nose sticking into resistance ! I think Mike likes these as a reverse pin trade (Short the pin head in expectation that the price will reverse and "eat" the Pins' "tail.") And your stop would be very small.
I think your refering to Mike's WICK PLAY trades right?

Not sure what are criterias for that trades but here i see basic support turning into resistance.
  • #137,654
  • Nov 25, 2015 10:31am Nov 25, 2015 10:31am
its very simple some pins are actually consolidation ,the main criteria is the story before ,after a strong move a pin turns up ,its best to be cautious
I know Mike dose not mix tfs but page one ,1st rule is understand daily weekly first ,makes perfect sense to me as you would then be cautious at least with a H4 pin

WHATEVER / WHICHEVER WAY YOU DECIDE TO TRADE YOU MUST (AT A MINIMUM):

 

  1. ON DAILY AND WEEKLY TIME-FRAMES,


Quoting gasgas
{quote} I think your refering to Mike's WICK PLAY trades right? Not sure what are criterias for that trades but here i see basic support turning into resistance.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #137,655
  • Nov 25, 2015 12:49pm Nov 25, 2015 12:49pm
Quoting gasgas
{quote} I think your refering to Mike's WICK PLAY trades right? Not sure what are criterias for that trades but here i see basic support turning into resistance.
Correct G
every Saint has a past. Every Sinner has a Future
  • #137,656
  • Nov 25, 2015 10:37pm Nov 25, 2015 10:37pm
Quoting mbqb11
{quote} we can see that box low hold now at the BRN so it's a good time to get to b/e. At this point this trade has done it's thing. I think it has a good chance to test the highs from last week but i'm not going to take a big loss This is dynamic r:r. Although my initial risk was 1:1 about, my true risk was much lower as I would look to cut out under the BRN making my r:r absolutely great. That's something you guys hear me speak about often {image}
closed this out just now as we hit the previous highs


wishing those of you that celebrate a very happy thanksgiving. I sure have more to be thankful for this year then any year so far. Catch you all in a few days

Mike
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  • #137,657
  • Nov 26, 2015 12:38am Nov 26, 2015 12:38am
Hi Mike,

There is something flipping in my head for a day...
Please note that this bottom of the box when you was buying

Quoting mbqb11
{quote} yes that is a mini box that sits on top of the larger box from before. I use the bottom of the box to buy...
and breakout of pinbar, both aresame location. Just below trouble area.

Quoting mbqb11
{quote} ... In this case there was a pinbar but notice that pinbar closed under the box and BRN. I would NOT buy the break of that pinbar as you would trade back into that area....
So second time is also entering against the trouble area. Would you agree? Why is safer to enter second time if conditions has not changed?
Cheers.
  • #137,658
  • Nov 26, 2015 10:31am Nov 26, 2015 10:31am
little turkey day profit for me

2day buob, bought a retrace back to the PPZ and TL and BRN

Used the gap open for direction but with the holiday decided to close it out for a nice profit

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  • #137,659
  • Nov 26, 2015 11:34am Nov 26, 2015 11:34am
Nice pin on AUDNZD. Entered on breakout and finished on BE cause managed stop too tight.

I was bit scared of inside bar prior to pin which I thought will make problematic area. I would prefer to see bear candle (pinbar's left eye).
Is that correct?
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  • #137,660
  • Nov 27, 2015 1:01am Nov 27, 2015 1:01am
CHF/JPY BEOB H4 and H1 in clear bearish trend.
Have a great weekend all
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