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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

  • #3,441
  • Edited 3:31am Apr 29, 2007 3:08am | Edited 3:31am
Quoting zzz
thanks for your help, mike. just curious, why you chose to be a firekeeper here?

i also have a question for vmaranhao:
i installed your indicator and it looks fine to me. it already helped me to spot some stuff that i missed without it.
it messes up with my time to the end of bar readings, though. how would you deal with it?
i attached the picture.

mimas, if you are saying that white does not show up on your chart, this tells me that you are using a white background. Switch to the dark one, or you will lose your eyes. you will need them later to count all that money that you will make on trading.
Hi zzz,

I'll put a new parameter to allow changes in the position of labels in the new version (1.1) I'm uploading today. Its name will be pStats_Pos.
  • #3,442
  • Apr 29, 2007 3:08am Apr 29, 2007 3:08am
Quoting banzai
Thanks for the indicator, vmaranhao .
You're welcome
  • #3,443
  • Apr 29, 2007 3:26am Apr 29, 2007 3:26am
Quoting zzz
another question for vmaranhao:
what settings i have to change in order for your indicator to put a star next to this pin bar? it is daily USD/CHF 19 April 2007.
thanks
Hi zzz,

You have to play with two parameters to pin up and two for pin down:

pPINUP_Min_Delta
pPINDN_Min_Delta

Are the minimum size of the nose in pips. Default 5 pips.

pPINUP_Top_Precent
pPINDN_Top_Precent

As I down know what a "Big Nose" is, the indicator calcs all possible pins when it starts then marks only de X % bigger noses (default 10%). If you change Top_Percent parameters to higher values, your pin will be marked.
  • #3,444
  • Apr 29, 2007 6:09am Apr 29, 2007 6:09am
New version.

- Outside Bar changed to Bearish Outside Vertical Bar (BeOVB) and Bullish Outside Vertical Bar (BuOVB)

- Market Structure High / Low included

- Parameter to change position of labels included

- Minor fixes

Enjoy

VM
Attached File(s)
File Type: mq4 VM_Price_Action_1.1.mq4   22 KB | 1,483 downloads
File Type: ex4 VM_Price_Action_1.1.ex4   26 KB | 976 downloads
  • #3,445
  • Apr 29, 2007 8:58am Apr 29, 2007 8:58am
thanks vmaranhao.
thanks mike. this is what i thought.
  • #3,446
  • Apr 29, 2007 10:51am Apr 29, 2007 10:51am
You peolple on here are the greatest. I am new to the forum here, and looking for a system. I like the sounds of this one, but i need to know how far back i need to look to find the download of this setup, and if there is an explanation of how to read it. I would appreciate any help on this.
Thank you
  • #3,447
  • Apr 29, 2007 11:26am Apr 29, 2007 11:26am
Hi R Richards


You have indeed found a very useful thread here and you will surely benefit by reading it.
If you spend some time reading the thread you will learn how to interpret Price Action. The best thing you can do is try identify the bar formations Jim teaches us, on your charts, and see how price moves around them.

good luck




Quoting R Richards
You peolple on here are the greatest. I am new to the forum here, and looking for a system. I like the sounds of this one, but i need to know how far back i need to look to find the download of this setup, and if there is an explanation of how to read it. I would appreciate any help on this.
Thank you
  • #3,448
  • Apr 29, 2007 8:20pm Apr 29, 2007 8:20pm
Quoting the_wizard
the i4b setup on usd/jpy i warned of last week just made it into the latest james16 video!

i quote jim: "we got a beautiful inside bar which, when i saw that i was like ok, here we go"

now all i have to do is take 'em. LOL
Where is this video posted? Private area for James16 members?
  • #3,449
  • Apr 29, 2007 8:31pm Apr 29, 2007 8:31pm
Quoting Goozman
Where is this video posted? Private area for James16 members?
Yes, it is in the pf

Rick
  • #3,450
  • Apr 29, 2007 9:48pm Apr 29, 2007 9:48pm
Mike, from your experience, if I am usually getting to my computer 1-1.5 hours after new the daily bar starts to print, how much it distorts my trades, given that they will now mostly be based on daily bars? Or it will somehow average itself out?
Sometimes move goes in my favor, sometimes against. European/US pairs are not traded at this time actively, but anything Yen, AUD, NZD related may have big moves.
Thanks.
  • #3,451
  • Apr 29, 2007 9:51pm Apr 29, 2007 9:51pm
Quoting zzz
Mike, from your experience, if I am usually getting to my computer 1-1.5 hours after new the daily bar starts to print, how much it distorts my trades, given that they will now mostly be based on daily bars? Or it will somehow average itself out?
Sometimes move goes in my favor, sometimes against. European/US pairs are not traded at this time actively, but anything Yen, AUD, NZD related may have big moves.
Thanks.
Ya unfortunately it will be a give and take if this is the case. Also many brokers have different daily bar closing times, depending on who you are using for your charting. Maybe you can find one that closes an hour later for you to make all your trades based on that.


Mike
  • #3,452
  • Apr 29, 2007 11:03pm Apr 29, 2007 11:03pm
Quoting zzz
Mike, from your experience, if I am usually getting to my computer 1-1.5 hours after new the daily bar starts to print, how much it distorts my trades, given that they will now mostly be based on daily bars? Or it will somehow average itself out?
Sometimes move goes in my favor, sometimes against. European/US pairs are not traded at this time actively, but anything Yen, AUD, NZD related may have big moves.
Thanks.
May I add something here....zzz if you are trading off the daily charts it depends how you trade. If you are playing the break of pa bars then "most" of the time in my experience the break wont occur in the first 1-1.5 hrs of the day. In this case you will still have time to place your order before the break occurs and get the same result as if you were there at start of the new daily bar. Of course occasionaly you might miss out.

hope this helps
dingo
  • #3,453
  • Apr 29, 2007 11:22pm Apr 29, 2007 11:22pm
thanks for your answers, mike and dingo. i was asking this question already, but will ask again. anyone who lives in a mountain time zone, trade daily bars, and have a job will face this problem. what broker uses start of a daily candle at around 16 or 17 EST? i tried a bunch of them, and did not find one. since i go for PA, i don't need anything fancy, so i can live without mt4 now. any ideas? help please! i want a clean experiment, since i started 3 probational months of demo trading before going for real, according to jim's recommendations.
  • #3,454
  • Edited 7:38am Apr 30, 2007 5:13am | Edited 7:38am
Quoting zzz
thanks for your help, mike. just curious, why you chose to be a firekeeper here?

i also have a question for vmaranhao:
i installed your indicator and it looks fine to me. it already helped me to spot some stuff that i missed without it.
it messes up with my time to the end of bar readings, though. how would you deal with it?
i attached the picture.

mimas, if you are saying that white does not show up on your chart, this tells me that you are using a white background. Switch to the dark one, or you will lose your eyes. you will need them later to count all that money that you will make on trading.

zzz,
LOL's I can only hope your right......
I did work out how to change colours etc, my metatrader at work had the meta language file removed as the virus checker deleted it, for some reason.
But managed to compile my changes on my home PC no problem.
As you say though it is very helpful in the fact that it helps idetify setups we may have missed.........!
  • #3,455
  • Apr 30, 2007 12:33pm Apr 30, 2007 12:33pm
  •  2mas
  • | Joined Apr 2007 | Status: Thanks to James 16 family | 89 Posts
Another Nice PB on the 4H of the fib38.2 and tl. I was on the first PB, exited early at the 1.64 ...
Hopefully this one will give back some of those lost pips.
Any ideas??
Attached Image (click to enlarge)
Click to Enlarge Name: euraud.jpg Size: 105 KB
  • #3,456
  • Apr 30, 2007 12:42pm Apr 30, 2007 12:42pm
It's resting on the 200 ema on the hourly chart. I would at least wait for a break of that.
Life is too short to have anything but delusional notions about yourself.
  • #3,457
  • Apr 30, 2007 1:00pm Apr 30, 2007 1:00pm
  •  2mas
  • | Joined Apr 2007 | Status: Thanks to James 16 family | 89 Posts
Quoting hoss
It's resting on the 200 ema on the hourly chart. I would at least wait for a break of that.
That's correct, it's resting on 200 ema of the same 4H chart.
It has retraced down ard the 6420 area. let's see.

Thx hoss
  • #3,458
  • Apr 30, 2007 1:09pm Apr 30, 2007 1:09pm
Woops. 4hr. Sorry about that!

Quoting 2mas
That's correct, it's resting on 200 ema of the same 4H chart.
It has retraced down ard the 6420 area. let's see.

Thx hoss
Life is too short to have anything but delusional notions about yourself.
  • #3,459
  • Apr 30, 2007 2:24pm Apr 30, 2007 2:24pm
  •  2mas
  • | Joined Apr 2007 | Status: Thanks to James 16 family | 89 Posts
RUR/CHF made a DBLHC sitting on the daily pivot.
BTW it's my first DBLHC trade
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf.jpg Size: 101 KB
  • #3,460
  • Apr 30, 2007 2:52pm Apr 30, 2007 2:52pm
Quoting 2mas
RUR/CHF made a DBLHC sitting on the daily pivot.
BTW it's my first DBLHC trade
Just from looking at the chart I'd say those lows aren't identical.

Also keep in mind that setup is "floating" somewhere in outer space. So they aren't really "real" lows, even if they were identical, just identical bar lows.

The place you want these setups is at actual lows(read: swing ends).
For DBHLC at highs, obviously.

Just like Pins in traffic it can of course happen that they work, but you're trading real money here and so you'd ideally choose the setups that present you with the best position, chance and outlook, right?

Other PA folks can correct me here if I'm wrong, but this and the BEOB/BUOB in particular have this ugly tendency to "exhaust" easily, as the "strong" bars already seem to take quite a bit out of the market if they aren't at boundaries to begin with.

This is just a personal opinion and something I BELIEVE I have seen occur. I might of course be mad as a hat and off my tommyhorse, but I haven't trusted the market a whole lot with these setups in the last, oh, 3-6 months. (The times I've seen a DBLHC or BUOB "in the middle" followed by a move out, return -> PB or simply random bars that move lower again are ugh...could of course just be selective perception at work.)

----------

BTW, I can however offer you the entry at around 1.6465+ as a break of the weekly TBH, how's that?
Trust price. Know yourself.
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