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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

  • #139,601
  • Sep 6, 2016 6:22pm Sep 6, 2016 6:22pm
Quoting Jsbs
Hello everybody, what do you think about this situation? Pin bar, close under 78.5 and quite nice PPZ. Is it worth trading or not? James {image}
Hey James

I'm never really a fan when you have a pinbar that sits down low on the previous area. Meaning notice how the left eye is so far up towards the nose of the pinbar. That can often just lead to price filling back up through that wick. A lot of markets are in between like this. You can make a few cases for good and a bunch of cases for problems too.

Gotta really pick your battles in these markets

Not a ton of help but wanted to drop a line
Mike
  • #139,602
  • Sep 7, 2016 12:44am Sep 7, 2016 12:44am
Quoting Jsbs
Hello everybody, what do you think about this situation? Pin bar, close under 78.5 and quite nice PPZ. Is it worth trading or not? James {image}
Hi! My trade... Resistance and pin( not good pin, i know)))
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  • #139,603
  • Sep 7, 2016 12:48am Sep 7, 2016 12:48am
And another trade. I think it was resistance and ib.
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  • #139,604
  • Sep 7, 2016 2:26am Sep 7, 2016 2:26am
Quoting mbqb11
{quote} Hey James I'm never really a fan when you have a pinbar that sits down low on the previous area. Meaning notice how the left eye is so far up towards the nose of the pinbar. That can often just lead to price filling back up through that wick. A lot of markets are in between like this. You can make a few cases for good and a bunch of cases for problems too. Gotta really pick your battles in these markets Not a ton of help but wanted to drop a line Mike
Thanks for coment Mike.

As you said: "the left eye is so far up towards the nose of the pinbar". It was exactly the reason why I wasn't sure about the trigger. I call it drowned pin bar
Although I doubted if i should take it, finally i took the trade. Because sometimes it works. And that is maybe my problem.

James
  • #139,605
  • Edited 8:11am Sep 7, 2016 7:53am | Edited 8:11am
GBP/NZD Daily Chart

Weve got a bearish descending triangle with a triple bottom at 1.77 nice area (monthly support from 2001) and divergence on the daily, looking for break lower and retest for a move lower or fake break with a 2bar pinbar or bullish outside bar closing above 1.78.

I personally think we are going break lower as we had already two touches on the the monthly tf but price will tell.


Fxchap.
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  • #139,606
  • Sep 7, 2016 8:38am Sep 7, 2016 8:38am
Quoting Jsbs
{quote} Thanks for coment Mike. As you said: "the left eye is so far up towards the nose of the pinbar". It was exactly the reason why I wasn't sure about the trigger. I call it drowned pin bar Although I doubted if i should take it, finally i took the trade. Because sometimes it works. And that is maybe my problem. James

Hey James

Yes it did work out real well. In a case like that it really needs to break HARD. But I have found those types of bars tricky in the long run. In trading the funny thing is that anything can work some of the time. The biggest key is what works consistently long term and ignoring everything else. Of course this can vary for each trader too. Focusing on risk I have found is the most crucial for the times that things aren't working.

Glad to see you catch some pips and bookmark the trade for future

Mike
  • #139,607
  • Sep 8, 2016 4:02am Sep 8, 2016 4:02am
This may be useful for today prior ECB cONF


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  • #139,608
  • Sep 8, 2016 10:24am Sep 8, 2016 10:24am
with so many markets so indecisive(seems everyone is waiting on the FEDs next move or lack there of)

Here was a MONTHLY trade I executed yesterday

Here was my chart from the private group


Gotta be patient on these monthly charts but it's great that we can position size so flexible in FX


Happy NFL kickoff too

Mike
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  • #139,609
  • Sep 8, 2016 10:39am Sep 8, 2016 10:39am
Very nice trade Mike, I personally was waiting for a 1.50 touch.. seems I missed it 😥
Quoting mbqb11
with so many markets so indecisive(seems everyone is waiting on the FEDs next move or lack there of) Here was a MONTHLY trade I executed yesterday Here was my chart from the private group Gotta be patient on these monthly charts but it's great that we can position size so flexible in FX Happy NFL kickoff too Mike {image}
  • #139,610
  • Sep 8, 2016 1:09pm Sep 8, 2016 1:09pm
One of my trade with pin. I love this game!)))
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  • #139,611
  • Sep 9, 2016 12:16am Sep 9, 2016 12:16am
Quoting Kinder
One of my trade with pin. I love this game!))) {image}
the close is lower than the open, so this is not a (bullish) pinbar. and you are fighting a big bearish trend on D1.
j2mc
meine augen sind die sterne
  • #139,612
  • Sep 9, 2016 4:09am Sep 9, 2016 4:09am
Today's Forecast On EU.
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  • #139,613
  • Sep 9, 2016 7:42am Sep 9, 2016 7:42am
another one from the PF

shorted the 2 day pinbar on the false breakout of the rising wedge


Happy friday
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  • #139,614
  • Sep 9, 2016 7:48am Sep 9, 2016 7:48am
been trying to use twitter more here are my shorts , i've been talking a lot about the indices on twitter

https://twitter.com/mbqb11/status/772912298981752832
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  • #139,616
  • Sep 9, 2016 9:14pm Sep 9, 2016 9:14pm
Quoting mbqb11
been trying to use twitter more here are my shorts , i've been talking a lot about the indices on twitter https://twitter.com/mbqb11/status/772912298981752832 {image}

that was fun! Going to look to close out the sp position sunday and let the dow position run at b/e

enjoy your weekend and it's almost football sunday Go vikings!
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  • #139,617
  • Sep 9, 2016 11:26pm Sep 9, 2016 11:26pm
Quoting mbqb11
{quote} that was fun! Going to look to close out the sp position sunday and let the dow position run at b/e enjoy your weekend and it's almost football sunday Go vikings! {image}
whoops sorry just got an email I posted the same charts here are the updated charts. I moved my take profits down
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  • #139,618
  • Sep 10, 2016 2:43am Sep 10, 2016 2:43am
Quoting aserbfx
{quote} the close is lower than the open, so this is not a (bullish) pinbar. and you are fighting a big bearish trend on D1. j2mc
Thank you for your opinion! Maybe it was bad pin and against bearish trend,but it made some money for me.
  • #139,619
  • Sep 10, 2016 5:18am Sep 10, 2016 5:18am
Quoting mbqb11
another one from the PF shorted the 2 day pinbar on the false breakout of the rising wedge Happy friday {image}
Hey Mike !

I was looking at this setup but was worried about the previous resistance we had that could act as support (blue zone marked)

How do you know when its gonna or not gonna hold ?

Weekly looks superb for a 0.745 retest and go lower

Thanks !
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Trade Smart
  • #139,620
  • Edited 3:25pm Sep 10, 2016 2:41pm | Edited 3:25pm
its the structure ,but upper tl looks like this or like that month
its long wicked for the chart ,even tho not clean highly probable swing point over time
few pips off RN
top down charts
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