james16 Chart Thread

Sorry did not include the daily chart

Hope I am not making this confusing, but just trying to find what would have been ideal entry point. Here is the 4hr chart of the gbp/chf which I have previously posted the weekly and daily charts. They both give great indication that this is a good trade. Wondering if something paticular stands out on the 4hr chart to determine entry point. Just seeing the one day bounce off of the 38.2 fib and a dblhc seems good but looking for opportunity that would merit earlier entry. Any feed back appreciated.

Just to throw another chart into the mix the 1hr. It seems like when the 5/13/62 ema's crossed it would've been a good time to enter the trade know that the 365 ema (gold line) is above. To sum up all these charts just wondering which one would 've been the best indicator of entering in. I like the 1hr because that gets a person in sooner . I like that. But from a technical stand point looking for the best move. So before anyone answere's this question I did post the 4hr, daily, and weekly to help.

well the entry point if you stuck it out on my daily chart is an IB that formed, It was a TBL that was off by 1 pip. Shows exhaustion till broken downards. So you could play it for a break high .

Ignore that bar with the purble x through it. That is interbanks sunday bar which I always ignore. Another note, is this hit Vegas Daily fib line. So using this IB or TBL(whichever you wnt to call it), you could take a break long on that.

Does this help?

Edit* We have different feeds, so just always play it how it is on your feed as per James's advice

Would you wait until the end of the day to see this develop before you enter the trade?

I would enter on the break of Monday. So that highlighted candle is already formed. My entry is the break long the next day(Tuesday).

Hope that helps,
Mike

Yes it does. It takes patience to enter into a more sure trade then to just jump into it. Appreciate the time.

Here is some statistics on how the pound/dollar hits certain fib levels with a high amount of consistencey.

<TABLE style="WIDTH: 506pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width=674 border=0 x:str><COLGROUP><COL style="WIDTH: 48pt" span=5 width=64><COL style="WIDTH: 65pt; mso-width-source: userset; mso-width-alt: 3145" width=86><COL style="WIDTH: 57pt; mso-width-source: userset; mso-width-alt: 2779" width=76><COL style="WIDTH: 48pt" span=3 width=64><TBODY><TR style="HEIGHT: 15.75pt" height=21><TD style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; WIDTH: 48pt; BORDER-BOTTOM: #ece9d8; HEIGHT: 15.75pt; BACKGROUND-COLOR: transparent" width=64 height=21></TD><TD style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; WIDTH: 48pt; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" width=64></TD><TD style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; WIDTH: 48pt; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" width=64></TD><TD style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; WIDTH: 48pt; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" width=64></TD><TD style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; WIDTH: 48pt; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" width=64></TD><TD style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; WIDTH: 65pt; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" width=86></TD><TD class=xl24 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; WIDTH: 153pt; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent; mso-ignore: colspan" width=204 colSpan=3>Fib Retracements</TD><TD class=xl25 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; WIDTH: 48pt; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" width=64></TD></TR><TR style="HEIGHT: 15.75pt" height=21><TD style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; HEIGHT: 15.75pt; BACKGROUND-COLOR: transparent" height=21></TD><TD style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"></TD><TD style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"></TD><TD style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"></TD><TD style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"></TD><TD style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"></TD><TD class=xl24 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" align=right x:num>23.6</TD><TD class=xl24 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" align=right x:num>38.2</TD><TD class=xl24 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" align=right x:num>50</TD><TD class=xl24 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" align=right x:num>61.8</TD></TR><TR style="HEIGHT: 15.75pt" height=21><TD style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; HEIGHT: 15.75pt; BACKGROUND-COLOR: transparent" height=21></TD><TD class=xl24 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"></TD><TD class=xl24 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"></TD><TD style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"></TD><TD style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"></TD><TD style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"></TD><TD class=xl24 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"></TD><TD class=xl24 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"></TD><TD class=xl24 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"></TD><TD class=xl24 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"></TD></TR><TR style="HEIGHT: 15.75pt" height=21><TD class=xl24 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; HEIGHT: 15.75pt; BACKGROUND-COLOR: transparent; mso-ignore: colspan" colSpan=6 height=21>Number of Days This Year The Market Has Been Open</TD><TD class=xl24 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" align=right x:num>240</TD><TD class=xl24 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" align=right x:num>240</TD><TD class=xl24 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" align=right x:num>240</TD><TD class=xl24 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" align=right x:num>240</TD></TR><TR style="HEIGHT: 15.75pt" height=21><TD class=xl26 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; HEIGHT: 15.75pt; BACKGROUND-COLOR: transparent; mso-ignore: colspan" colSpan=6 height=21>Number Of Days Retraced To These Fib Levels</TD><TD class=xl24 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" align=right x:num>228</TD><TD class=xl24 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" align=right x:num>195</TD><TD class=xl24 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" align=right x:num>166</TD><TD class=xl24 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" align=right x:num>136</TD></TR><TR style="HEIGHT: 15.75pt" height=21><TD class=xl29 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; HEIGHT: 15.75pt; BACKGROUND-COLOR: transparent; mso-ignore: colspan" colSpan=6 height=21>Average Time Retraced Retraced To The Fib Levels</TD><TD class=xl28 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" align=right x:num="00.95">95.0%</TD><TD class=xl28 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" align=right x:num="0.8125">81.3%</TD><TD class=xl28 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" align=right x:num="0.69166666666666665">69.2%</TD><TD class=xl28 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" align=right x:num="0.56666666666666665">56.7%</TD></TR><TR style="HEIGHT: 15.75pt" height=21><TD class=xl29 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; HEIGHT: 15.75pt; BACKGROUND-COLOR: transparent; mso-ignore: colspan" colSpan=4 height=21>Number of Days Over 100 Pips</TD><TD style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"></TD><TD style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"></TD><TD class=xl30 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" align=right x:num>175</TD><TD class=xl31 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"></TD><TD class=xl31 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"></TD><TD class=xl31 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"></TD></TR><TR style="HEIGHT: 15.75pt" height=21><TD class=xl29 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; HEIGHT: 15.75pt; BACKGROUND-COLOR: transparent; mso-ignore: colspan" colSpan=4 height=21>Number of Days Over 200 Pips</TD><TD style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"></TD><TD style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"></TD><TD class=xl30 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" align=right x:num>34</TD><TD class=xl32 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"></TD><TD class=xl32 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"></TD><TD class=xl32 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"></TD></TR><TR style="HEIGHT: 15.75pt" height=21><TD class=xl29 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; HEIGHT: 15.75pt; BACKGROUND-COLOR: transparent; mso-ignore: colspan" colSpan=6 height=21>Retracements To These Fibs After 200 pip Day</TD><TD class=xl30 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" align=right x:num>27</TD><TD class=xl30 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" align=right x:num>15</TD><TD class=xl30 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" align=right x:num>13</TD><TD class=xl30 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" align=right x:num>8</TD></TR><TR style="HEIGHT: 15.75pt" height=21><TD class=xl29 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; HEIGHT: 15.75pt; BACKGROUND-COLOR: transparent; mso-ignore: colspan" colSpan=6 height=21>Average Time Retraced to this level After 200 pip Day</TD><TD class=xl33 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" align=right x:num="0.81818181818181823">0.818</TD><TD class=xl33 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" align=right x:num="0.45454545454545453">0.455</TD><TD class=xl33 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" align=right x:num="0.39393939393939392">0.394</TD><TD class=xl33 style="BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: #ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent" align=right x:num="0.24242424242424243">0.242</TD></TR></TBODY></TABLE>

I believe the Sunday bar is actually part of the next bar. I saw a awhile ago about this. I think the post was related to the SBFX platform and there was a discussion when they asked the forum what server time they should set it to. The Sunday bar is due to the time offset of your broker. IBFX is GMT 0. I have noticed the same thing on other GMT 0 brokers. FXDD does not have the Sunday bar due to being GMT +2.

So if that is the case then the chart it is not really a TBL. Sorry to rain on your parade. Just wanted to clarify so people don't ignore the Sunday bar in the future thinking it has no validity.

On a sidenote, I wonder if the Sunday bar throws off some indicators. For example, could it screw up an ATR reading.

I found it. It pays to have a good memory.

http://strategybuilderfx.com/showpos...0&postcount=11

well i have ignored all sunday bars on my platform. And it does my trading quite well, so I will continue too. Also james teaches it like this, so its not raining on my parade because it has helped me. I suggest others practice it and whichever way works for them.

ps: something is only as valid/not valid as we choose to make it

best,
mike

Hi Guys! I'm new here, so can someone put a link where I can read about Price Action Analysis/strategy please? Thanks.

Go to page 1 of this thread and read through to the end...

All the best,

Michael

I have found the first 30 pages very helpful because it deals a lot with strategy and charts. After that there is a number of pages talking about the starting the group and personal things like travel and sleep which is fine. So you can breeze through some of the pages quickly just keep an eye out for charts and trading analysis. Just a helpful hint so you don't think the job is overwelming.

I am also a member of the PF and yes he does say to ignore it. However, I don't want to follow blindly. Does James know this is what the Sunday bar really is? If he didn't, should it still be ignored? If it works for someone personally then I suppose one would. Trading is finding what works best for one's self.

Here is my point: Ignoring the Sunday bar is ignoring the first 2 hours of trading. I suppose one can get away with ignoring it in most cases (matter of probability). However, it is still real data just like the other bars and a truer opening price. It is a portion of a bar (half a 4h bar & 2 hours of a daily bar). That portion then throws off the rest of the larger timeframe bars for the rest of the week. Also those 2 hours can show us more info such as gaps, truer indicator data (platform time), negate what is perceived as a price action setup, confirm a price action setup that is really there, etc. There are probably other implications as well.

Overall, people should be aware of this so they can make the decision to ignore it or not.

yes and I agree with you

That's why i said people should practice what works for them. I was just stating even knowing what you posted. If I make money week and week out ignoring the bar. I am not now going to use the bar. That's all I was saying.

Thank you for sharing your information!

Take care,
Mike

tHE ANNIVERSARY DATE FOR MY SUBSCRIPTION TO YOUR THREAD IS THE 14TH. i WOULD LIKE TO END MY SUBSCRIPTION ON THE 12TH OR 13TH OF DEC 2006 JUST TO MAKE SURE i AM NOT BILL AGAIN. THANKS i HAVE FOUND YOUR TAKE BOTH INTERSTING AND EDUCATIONAL. bUT A BIT EXPENSIVE

Hi hk334,
if you mean the subscription to the Private Forum / James16 group, then I think it would be a good idea to send an Email to James or Charles directly with "Cancellation of my subscription" or similiar in the email subject.

You should have the address from when you first subscribed.

Processing is usually swift and you should have no problems.

Sounded like that's what you meant, so I thought I should say so accordingly =)
I'll send you a PM, too, just in case.

Best wishes,

SeekingLight

i will send you an email hk. this is taken care of.

jim

expensive, is that some kind of joke, i didn't think it was april 1st?