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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

  • #139,221
  • Jun 15, 2016 3:24am Jun 15, 2016 3:24am
Quoting forexlife
hi. anyone watch US Oil, weekly pinbar. looks good to short? {image}
I just played this two weekly pin bars.
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  • #139,222
  • Jun 15, 2016 3:37am Jun 15, 2016 3:37am
Quoting VKTrader
Hi, what do you think about this GBP/ CAD setup ? I am trading pinbar formed at area, which was rejected in the past, pinbar has also both eyes . I am waiting for confirmation what means that the price will go up- above pinbar high. Because of this I set buy order +-10pips above pinbar high. {image}
Great clean chart! I looking on this trade to.
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  • #139,223
  • Edited 8:59am Jun 15, 2016 8:05am | Edited 8:59am
Hi everyone,

Been on/off at trading over the last few years but this thread has inspired me in the last week to focus and continue on the journey. With that said here are a few charts of what I'm looking at right now with the rationale behind each. Feedback always welcome.

AUDUSD Daily

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EURNZD Daily

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EURUSD Daily

Included several reasons to consider a long here provided there is a confirmation of a signal setup to do so.

Reasons I don't like this area/trade
Price is sandwiched between the 150 and 365.
Price is also coming down off a very strong resistance area.

Would love to see how other traders read the PA here and hear their thoughts on why they like or don't like this area.

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Cheers
  • #139,224
  • Jun 15, 2016 9:58am Jun 15, 2016 9:58am
Quoting -Paul-
Hi everyone, Been on/off at trading over the last few years but this thread has inspired me in the last week to focus and continue on the journey. With that said here are a few charts of what I'm looking at right now with the rationale behind each. Feedback always welcome. AUDUSD Daily {image} EURNZD Daily {image} EURUSD Daily Included several reasons to consider a long here provided there is a confirmation of a signal setup to do so. Reasons I don't like this area/trade Price is sandwiched between the 150 and 365. Price is also coming down off...
Hi Paul, glad you discovered this great thread. I'm a novice here, still learning, but i wouldn't trade neither of these setup because:
1. the daily bar still has 4 hours( in my feed) till will close
2. we want to trade BOUB( AUD/USD at your chart) at the swing low and the BEOB(EUR/NZD) at the swing high; in EUR/USD seems to be a pinbar? for the pinbar better would be to have the open-close-high in the first 33% of the bar
3. in about 1 hour will have FOMC(i know here we don't talk about fundamentals) but a lot of things can happen
sorry for my english
  • #139,225
  • Jun 15, 2016 10:22am Jun 15, 2016 10:22am
Quoting florinellz
{quote} Hi Paul, glad you discovered this great thread. I'm a novice here, still learning, but i wouldn't trade neither of these setup because: 1. the daily bar still has 4 hours( in my feed) till will close 2. we want to trade BOUB( AUD/USD at your chart) at the swing low and the BEOB(EUR/NZD) at the swing high; in EUR/USD seems to be a pinbar? for the pinbar better would be to have the open-close-high in the first 33% of the bar 3. in about 1 hour will have FOMC(i know here we don't talk about fundamentals) but a lot of things can happen sorry...

Hi florinellz,

Thanks for taking a look.

1. Yes I agree, as noted none of these are valid setups until there are confirmed signal bars (provided I have read the PA correctly).
2. I'm not sure I understand, both of these are at confirmed pivot zones and potential swings. A swing high in the the case of EURNZD (albeit a minor one) and a swing low in the case of AUDUSD. No confirmed setup on EURUSD until the bar closes.
3. Yes, this analysis is purely technical. Just my attempt to narrow in on entry points while ignoring the news.

Thanks again
  • #139,226
  • Jun 15, 2016 11:32am Jun 15, 2016 11:32am
Quoting -Paul-
{quote} Hi florinellz, Thanks for taking a look. 1. Yes I agree, as noted none of these are valid setups until there are confirmed signal bars (provided I have read the PA correctly). 2. I'm not sure I understand, both of these are at confirmed pivot zones and potential swings. A swing high in the the case of EURNZD (albeit a minor one) and a swing low in the case of AUDUSD. No confirmed setup on EURUSD until the bar closes. 3. Yes, this analysis is purely technical. Just my attempt to narrow in on entry points while ignoring the news. Thanks again...
Paul look at this video
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  • #139,227
  • Edited 11:59pm Jun 15, 2016 11:48pm | Edited 11:59pm
Quoting Guitarbloke
All the best with that trade VK. EURAUD/H4. 8hr BEOVB. Looks to be breaking lower. Last H4 candle closed below 1.52000. Some nice space to fall into if it takes off. {image}
Good thing i got out of that short trade and bought a H4 BUOVB. Whew!

EUR/AUD BUOVB.

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USD/CAD W1 BUOVB.

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'Fail to plan, plan to fail'
  • #139,228
  • Jun 16, 2016 3:10am Jun 16, 2016 3:10am
check GBP/CAD daily pinbar
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  • #139,229
  • Jun 16, 2016 4:32am Jun 16, 2016 4:32am
Weekly pinbar trade from last week still in play
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  • #139,230
  • Jun 16, 2016 4:48am Jun 16, 2016 4:48am
Quoting Maklla
check GBP/CAD daily pinbar {image}
I think you must pay attention to 1.85 also...
  • #139,231
  • Edited 7:38am Jun 16, 2016 5:17am | Edited 7:38am
Yo Flo. All the best Mak.

USD/SGD W1 PB. See how she goes.

Edit: Movement wise, An absolute slaughter going on right now. Gr8 if ur on the right side of it. If not get out.

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OIL/USD W1. Entry on H4 PB. Some profit locked in on this sucker. Letting it run and going with it.

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'Fail to plan, plan to fail'
  • #139,232
  • Edited 2:20pm Jun 16, 2016 11:31am | Edited 2:20pm
Quoting florinellz
{quote} Paul look at this video https://www.youtube.com/watch?v=F-31fRCUuRs

Hi, thanks for posting that and thanks to Mike for creating it. I went through it last week and watched it again now. Great material that I know I will return to again and again.

So speaking off space. We have a nice area setting up on Gold with lots of it. We also have:

1. A confirmed resistance area.
2. A big round number.
3. Strong MACD divergence.

However, price may or may not confirm a entry here. Right now we have a unconfirmed Pinbar. Must wait until the bar closes.

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Update: Though this daily bar hasn't closed just yet we have a confirmed bar setup now, a bearish outside bar. I will plan my entry after it closes. To look at it, it appears as though its a great pin bar setup but price has just broken below the previous bar low, technically making this a bearish outside bar (cheers Mike, learnt that nuance today from another one of your webinars on YT).

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  • #139,233
  • Jun 16, 2016 2:00pm Jun 16, 2016 2:00pm
Although not yet confirmed, there is a chance that the bigger picture on the weekly chart has carved out a massive head and shoulders pattern.
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  • #139,234
  • Jun 16, 2016 3:05pm Jun 16, 2016 3:05pm
Watching another nice setup this time on the GBPUSD.

Confluence of:

1. Strong support area
2. 61.8 fib from the swing low to swing high
3. Bullish outside bar rejecting this support area covering the range of the prior 2 bars

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  • #139,235
  • Jun 16, 2016 4:11pm Jun 16, 2016 4:11pm
Quoting -Paul-
Watching another nice setup this time on the GBPUSD. Confluence of: 1. Strong support area 2. 61.8 fib from the swing low to swing high 3. Bullish outside bar rejecting this support area covering the range of the prior 2 bars {image}
I agree with your gold idea. I will trade this pinbar too. But be careful on GBPUSD the price have no space for moving. And next week is brexit.
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  • #139,236
  • Jun 16, 2016 4:39pm Jun 16, 2016 4:39pm
Quoting Maklla
{quote} I agree with your gold idea. I will trade this pinbar too. But be careful on GBPUSD the price have no space for moving. And next week is brexit. {image}
Hi Maklla, I have that as my FTA area. It's around 120 pips away :-)
  • #139,237
  • Edited 8:20pm Jun 16, 2016 7:24pm | Edited 8:20pm
I like this Gold set up on the Daily too. Here's how I'm looking to play it.

edit - Ended up getting in on retrace instead of a break.
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Confluence is king.
  • #139,238
  • Jun 16, 2016 11:06pm Jun 16, 2016 11:06pm
EUR/GBP H4 8hr BEOVB. Looks to be a fair bit of confluence. Keen to see if 25 ema is a worthy contributor, as i don't use it much.

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XAU/USD D1 BEOVB. Order set to trigger on retrace to left bars high. May miss it, but this is the price i'm prepared to get in at. If it takes off south, will look for a retrace opportunity to get in short. Good trading all. GB.

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'Fail to plan, plan to fail'
  • #139,239
  • Jun 17, 2016 2:57am Jun 17, 2016 2:57am
teh more i trade them the more i like the BEOVB
  • #139,240
  • Edited 7:31am Jun 17, 2016 6:23am | Edited 7:31am
GBP/CHF H4 BUOVB. Some resistance ahead. Another 25 ema experiment. See how we go.

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Gold sell order triggered.

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'Fail to plan, plan to fail'
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