Trade update: Gold target hit for +125 ticks.
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Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedHello all
I am what you would call a lurker here (been a member for years), life member of the PF and been following the J16 method for a while. Even though I have traded live with J16 I still consider myself a newbie. Anyway the reason for my post. I wanted to do some analysis on what would happen if I took all PB, BEOB or BUOB J16 PA trades with a set target regardless of location, pair, size, PPZ, etc. I put all my analysis in an Excel spreadsheet and wanted to share it with you all. I hope you find it enlightening. I want to stress that I...Ignored
DislikedI've had a few messages re the PA bars I am referring to so I captured my MT screen. I have highlighted what I regard as a PA bar. The PBs are the normal ones but obviously are taken based on your own criteria. Now the BEOB and BUOB that I take are slightly different to J16 PA.
BEOB: PA bar high higher or equal to the previous bar high. PA bar close lower or equal to the previous bar low
BUOB: PA bar low lower or equal to the previous bar low. PB bar close higher or equal to the previous bar high.
The trade is taken when the price moves -/+...Ignored
Dislikedcharts
PPZ(go for short?)
1st AUDNZD/weekly(FXDD)
2nd AUDNZD/daily
TL(wait for long?)
3rd AUDNZD/weekly
I think it interesting, how its impression are different by just changing to draw lines differently
Thanks for reading
Ken
(Btw I`m in short with daily IB 1.13)Ignored
DislikedHey Ken,
I like your line at the 1.3070 on the Daily for the following reasons . . (Chart)
Ignored
DislikedThank you sir
I haven`t noticed.
you know,when I look at your chart , it make me sigh sometimes.
I don`t know how it will take me to look at chart like you do. beautiful chart.I take my hat off, sir.
KenIgnored
DislikedNo worries FX
It's hard to watch all the charts AND catch up with all the lessons, and for me, finish my novel at the same time, so it's good for me to have these programs watching the charts for me.
If only I could get a program to write my book for me! Maybe I should adopt a thousand monkeys and typewriters for that thoughIgnored
DislikedThanks Ken.
Have you looked at using a Mutli Time Frame Moving Average for your 25 and 10 emas? It allows you to see the Daily 25 ema and 10 ema on the lower time frames.
It may help you with your style. Again I'm not trying to change would you do.
Here's the link to the post with the MTF moving average;
http://www.forexfactory.com/showpost...ostcount=32335
Let me know if you need help with it.Ignored
DislikedI've been following this thread for several weeks now and I am convinced by the PA methods used.
Unfortunately, and maybe because of my own incompetence, I have practically never seen a perfect PA setup on my charts, 1hr, 4hr, daily. I think this may be due to my living in France where the time lag with the New York charts is 6 hours. I am sure that there are other members who are certainly more intelligent then me, have found some way round this problem.
Would be very grateful if somebody could help me on this one.Ignored
DislikedI've been following this thread for several weeks now and I am convinced by the PA methods used.
Unfortunately, and maybe because of my own incompetence, I have practically never seen a perfect PA setup on my charts, 1hr, 4hr, daily. I think this may be due to my living in France where the time lag with the New York charts is 6 hours. I am sure that there are other members who are certainly more intelligent then me, have found some way round this problem.
Would be very grateful if somebody could help me on this one.Ignored
DislikedHey Jon
Do you see this bar as a BEOB? Agree with your assessment that FTA is not far away but do you think this could be a J16 himself classic move in terms of 'take kwik profits at FTA?'Ignored
DislikedHey Jon
That is something very unofficial that someone made long ago(not official j16). For a pinbar it only has to be withing the priors bar High to low. I do agree with you that when it is within the open/close it is much stronger. But technically j16 speaking it does not.
Welcome PKmurphIgnored