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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

  • #139,401
  • Jul 26, 2016 2:14pm Jul 26, 2016 2:14pm
Hey

thoughts on AUD/CAD Selll Pinbar??? cheers (bounced off previous highs, a congestion zone)
my USD/JPY BeOB worked out well, indeed.
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"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
  • #139,402
  • Edited 8:29pm Jul 26, 2016 2:42pm | Edited 8:29pm
Dustbin, strictly not a pinbar because the close wasn't inside the previous bar, there was an 8 hr pinbar, combining two 4hr bars (not a great one). Note where the following bar was stopped.

Daily

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4hr

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  • #139,403
  • Jul 26, 2016 11:30pm Jul 26, 2016 11:30pm
Possible up move on EURJPY coming
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  • #139,404
  • Jul 27, 2016 2:19am Jul 27, 2016 2:19am
USDCAD 4hr

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  • #139,405
  • Jul 27, 2016 2:22am Jul 27, 2016 2:22am
Sell setup on EURUSD
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  • #139,406
  • Jul 27, 2016 6:27am Jul 27, 2016 6:27am
Strong setup on Gold and so far good progress.
Setup was based on price action combined with MAs. There is bullish engulfing pattern in the background, double bar low with a higher close on the ultra high volume and morning star formation. All these at 200SMA according to 4H time frame. I am aiming for minimum 1:3 RRR

Petar
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"Buy on fear, sell on greed !!!
  • #139,407
  • Jul 27, 2016 6:39am Jul 27, 2016 6:39am
Quoting cisc
{quote} Hello mike, i have a question to this trade. You wrote, that the PPZ is a "beautiful" PPZ. Therefore i have the question, if you see this PPZ as a perfect single line or a zone. When it is a zone for you, can you draw the upper and lower boundaries of this PPZ in the chart? thanks in advance

Hey Cisc

Sure here is that PPZ. It's still a zone but the zone is small enough that it's more accurate for me. Current sell is a fresh sell, first position was closed right near the lows.

Let me know if that helps C

Mike
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  • #139,408
  • Jul 27, 2016 6:40am Jul 27, 2016 6:40am
Quoting dustbin
Hey thoughts on AUD/CAD Selll Pinbar??? cheers (bounced off previous highs, a congestion zone) my USD/JPY BeOB worked out well, indeed. {image}

Hey D

As a few said that's not technically a pinbar. I actually spoke about this in my webinar last night and said it makes more sense to buy towards to the high to fill the wick. T he better selling area is near the high of that pinbar at the resistance. If you want i'll clip out that portion and email it to you. Just PM me your email address

Best
Mike
  • #139,409
  • Jul 27, 2016 8:15am Jul 27, 2016 8:15am
EUR/NZD Video update :
Feel free to comment if you like

Inserted Video
"Buy on fear, sell on greed !!!
  • #139,410
  • Jul 27, 2016 3:09pm Jul 27, 2016 3:09pm
GBPCAD 2hr pinbar/inside bar

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  • #139,411
  • Jul 28, 2016 4:53am Jul 28, 2016 4:53am
Quoting Petar_Serbia
Strong setup on Gold and so far good progress. Setup was based on price action combined with MAs. There is a bullish engulfing pattern in the background, double bar low with a higher close on the ultra high volume and morning star formation. All these at 200SMA according to 4H time frame. I am aiming for minimum 1:3 RRR Petar {image}
So far good progress. I did put SL at $1,336.00 (secured 1300 pips if the price starts lower). Still, upward target set at $1,348.00.
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"Buy on fear, sell on greed !!!
  • #139,412
  • Jul 28, 2016 6:40am Jul 28, 2016 6:40am
USD/CAD. Nice morning star + pinbar and rejection from support cluster >
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"Buy on fear, sell on greed !!!
  • #139,413
  • Jul 28, 2016 8:19am Jul 28, 2016 8:19am
Quoting Petar_Serbia
USD/CAD. Nice morning star + pinbar and rejection from support cluster > {image}
I was short from the damn D1 bar but moved SL to BE at plus 40. as I realized it was bouncing off the previous range it broke 3-4 days ago. so I now think, i should have taken half off there. oh well... NEXT

Question: was USD/CHF a 2 bar pin bar????
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"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
  • #139,414
  • Jul 28, 2016 10:22am Jul 28, 2016 10:22am
Quoting mbqb11
{quote} Hey Cisc Sure here is that PPZ. It's still a zone but the zone is small enough that it's more accurate for me. Current sell is a fresh sell, first position was closed right near the lows. Let me know if that helps C Mike {image}
Hello mike,
yes your answer helps. Just wanted to see how you draw the ppz in this situation. I would have drawn the ppz larger and therefore i would not have entered this trade because I was not sure, if this BEOB closed below the PPZ. However, I am still learning.
  • #139,415
  • Jul 28, 2016 9:26pm Jul 28, 2016 9:26pm
Quoting cisc
{quote} Hello mike, yes your answer helps. Just wanted to see how you draw the ppz in this situation. I would have drawn the ppz larger and therefore i would not have entered this trade because I was not sure, if this BEOB closed below the PPZ. However, I am still learning.
absolutely C

It's really important to know if you are above or below said PPZ. If you are ever unsure then you are doing the right thing to move on. I do the same thing when i'm not sure

I used this pivot for 3 trades(BRN for the last but with the knowledge of the large pivot to our back). They all happened to work really well. First two I took off the same area as per my posts here and jumped back in at the BRN for the 3rd prior to BOJ. I'm still holding my zar/jpy shorts looking for the gap to close

Let me know if you ever have more questions
Mike
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  • #139,416
  • Jul 29, 2016 12:17am Jul 29, 2016 12:17am
Morning Mike / All, I'm starting to have a look at BEOB's - any comments on what I have drawn out here? Thanks.
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  • #139,417
  • Jul 29, 2016 4:04am Jul 29, 2016 4:04am
Hi

I've tried my idea of long on this BuOB on EUR/AUD. I think I might have got a few things wrong but it was compelling for me to test this idea. I have monitored a few of these patterns where I see a strong Be/BuOB followed by an inside bar, I went to h1 to minimize risk and have a better SL level. I'm intending to move SL to BE at 1:1. The red line is where I'm hoping price will go. Please find faults and enlighten me. thanks much appreciated in advance
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"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
  • #139,418
  • Jul 29, 2016 5:27am Jul 29, 2016 5:27am
@dusty I'm not sure what you are buying, is it the breakout of this box?
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  • #139,419
  • Jul 29, 2016 8:56am Jul 29, 2016 8:56am
Quoting dave0
@dusty I'm not sure what you are buying, is it the breakout of this box? {image}
Hi Dave
I bought the high of the IB and BuOB. So yes, breakout of that boxed area. I used the range of the H1 chart lows for SL. But I soon realised my mistake. Which was and has been highlighted a zillion times by Mike and others specially in the most recent post by Mike above. Thanks Mike and thanks Alphac for that info.

my USDCAD BeOB hit TP. It was iffy as it was going back in the range but I was convinced it was set to go down. The longer term is showing a strong down move followed by a "wave 4" type sideways action lasting 3 months nearly. I think it was also a 3bar high spot. Not much confluence from the PPZ point of view, still working on that. And though this was not pin bar it was certainly a BeOB but not Mikes favourite as it had not closed below the previous bar. [27 of july bar). initially when it bounced back up, yesterday, i was nervous but todays dollar weakness helped it drop and hit target. Though I was out because I bloody moved SL to BE at plus 40.
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"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
  • #139,420
  • Jul 29, 2016 9:14am Jul 29, 2016 9:14am
Question: Is this a. two bar pin bar on the weekly chart of AUD/USD, b. Is this a good one?

thanks
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"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
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