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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

  • #5,641
  • Aug 27, 2007 4:41pm Aug 27, 2007 4:41pm
Milking Man, I see... I will suggest adding emoticons or indicators to future sarcasms\jokes.
This time, an indicator would be an italic, enboldening, or underlining. With such a strategy your humor will stop flying over heads in a flash!!! You can! do it?


and for JoshDance, I would contend your position of "as this is mostly a price action-based thread" due to the fact there about 1001 newblettes cruising about (refer to your previous post which is helping a new person), and Milk Mans posts are at 74, which is low in comparison to the wisely 1000+ posters. Unfortunatly there is no jury to decide who is correct and give a 100 pips to the case winner. I declare, A DRAW. Just watch out for the Gelugon... he doesn't take kindly to me conceeding.
"Please sir, may I have some more pips?"
  • #5,642
  • Aug 27, 2007 4:59pm Aug 27, 2007 4:59pm
Quoting latinoholic
Hi Seeklight,

Did u see this Pin Bar , also with confluence of Moving Average, Price Pivot, Fibo Level.

Also i see divergence with Slow Stoch

Sell it GBP/USD ??

Hi latinoholic,

I cannot give any sort of trading advice. Yes, there's a PB on my Windsor feed as well. It has already broken/activated. It is almost / sort of against s/r...had it been 15 pips higher I would have really liked it...I think Mike was looking for the same price level.

It's been a small volume day, but it might end up working. Personally I'd see it as a lower confidence trade and use less risk..

I can find you a trendline to coincide with this PB...I'll post my old chart updated with it, one sec...

Here you go. Hey, it might even be a better trade than I thought with the TL if it can move below 1.9900-70 again..

P.S. I think the whole "no more hikes for you!" logic might be coming into play as well..don't hit me for saying something funn(d)y ;p
Attached Image
Trust price. Know yourself.
  • #5,643
  • Aug 27, 2007 5:06pm Aug 27, 2007 5:06pm
Quoting mamutot
i think (or at least hope so...) that the monthly PB of the USDCAD is reactivating itself, i checked the 4h chart and saw that the trendline was broke to the upside - would love to hear someone tell me i am right.


seeking??

Heye mamutot,

looks like a perfect one for Mike, he's been into Mouteki again lately

That'd probably be a mouteki entry right there, long like you said. The whole monthly shebang is pretty suspicious to me now, but heck, we've got the whole week to still take off. No rush, ey? ;D

Everything can happen in a heartbeat in these conditions. Everything is still very fragile.

And an avalance can start with a snowflake...

I didn't take the PB at the low since it was just too tiny and I was preferring the daily IB break lower instead originally.

Left that behind for +-0 pretty quickly ;p

Currently trying to make sense out of everything myself here...

I will post some charts to my journal though. There were some okay carry pair trendline hits / setups, the Kiwi one was even on the FF frontpage, by some contributor.

Didn't really take anything since there wasn't that much clarity in the setups for me...I don't like Raczekfx daredevil plays yet, although they can be extremely rewarding...I wish I could do them...

Keep in mind there will be a TL underside for USDCAD again as well...1.0580-1.0610ish? Something like that I guess...not sure where to "put it" at the moment...
Trust price. Know yourself.
  • #5,644
  • Edited 7:28pm Aug 27, 2007 6:25pm | Edited 7:28pm
How about EURAUD daily pin bar which has not yet activated but is close?

Confluence of 50% fib ret, bounce off 365 SMA and daily TL.

I don't know about pivots.

Hey Josh (or anyone else), do you use any MT4 indicators for the daily/weekly pivots or other james price action which would makes things simpler?

Thanks,

Johnny
Attached Image (click to enlarge)
Click to Enlarge Name: euraud-daily-pb.gif Size: 20 KB
  • #5,645
  • Aug 27, 2007 6:43pm Aug 27, 2007 6:43pm
I still see two H & S on CAD One has finished off. and there is a bigger one inside itself... well that is how it looks to me... I went long last Friday looking to go to the top of the right shoulder... then short after that to ride it back down..

Here is chart but I don't know how to freehand draw on a MT4 chart so I can't really show you what I see... and NO ONE should count on me being right either !!!
Attached Image
  • #5,646
  • Aug 27, 2007 6:47pm Aug 27, 2007 6:47pm
Hey !! Why does my chart show up as an attachment now instead of just seeing the chart like always before????

Always got to be something !!!
  • #5,647
  • Aug 27, 2007 7:29pm Aug 27, 2007 7:29pm
Quoting Tiki Trader
Hey !! Why does my chart show up as an attachment now instead of just seeing the chart like always before????

Always got to be something !!!
My guess is that bitmap images (bmp) won't show with a thumbnail. Try gif or jpg...
  • #5,648
  • Aug 27, 2007 8:47pm Aug 27, 2007 8:47pm
Quoting Johnnyl
How about EURAUD daily pin bar which has not yet activated but is close?

Confluence of 50% fib ret, bounce off 365 SMA and daily TL.

I don't know about pivots.

Hey Josh (or anyone else), do you use any MT4 indicators for the daily/weekly pivots or other james price action which would makes things simpler?

Thanks,

Johnny
Good find on the EURAUD pin!

I use standard daily/weekly/monthly pivot indicators that people have posted here on FF. If you need a recommendation let me know and I'll post mine.
  • #5,649
  • Aug 27, 2007 8:48pm Aug 27, 2007 8:48pm
But I've always used BMP !!!


Quoting Johnnyl
My guess is that bitmap images (bmp) won't show with a thumbnail. Try gif or jpg...
  • #5,650
  • Aug 27, 2007 8:55pm Aug 27, 2007 8:55pm
Quoting Tiki Trader
But I've always used BMP !!!
Ok Tiki... I'm wrong then!
  • #5,651
  • Aug 27, 2007 8:57pm Aug 27, 2007 8:57pm
Quoting JoshDance
Good find on the EURAUD pin!

I use standard daily/weekly/monthly pivot indicators that people have posted here on FF. If you need a recommendation let me know and I'll post mine.
Sure, if you don't mind sharing I'd be interested. I know there are a bizillion different indicators each with their quirks. If you have found something that seems to work well, it would probably save me some time trying to sort through them... Thanks, Johnny
  • #5,652
  • Aug 27, 2007 8:59pm Aug 27, 2007 8:59pm
Quoting Johnnyl
Sure, if you don't mind sharing I'd be interested. I know there are a bizillion different indicators each with their quirks. If you have found something that seems to work well, it would probably save me some time trying to sort through them... Thanks, Johnny
Habeeb has made some great ones

http://www.forexfactory.com/showthread.php?t=3047
  • #5,653
  • Aug 27, 2007 9:07pm Aug 27, 2007 9:07pm
These indicators are the best I've seen and blow away any others I've found, as they draw past pivots as well as current, for backtesting purposes if you choose to do so. They only show lines from the point the pivots are valid, as opposed to nasty lines across your whole screen like some of the other indicators. Also, this set includes a monthly pivot indicator, the one you'll want to use for daily charts. A setting of "0" will plot pivots for all bars. I made the default setting 1, so that it will display only the current pivots.

I believe "BundyRaider" is the name of the FF member who did the original code, and I just modified some of it to fit my needs better, and added the monthly.
Attached File(s)
File Type: zip PivotsCollection.zip   7 KB | 1,164 downloads
  • #5,654
  • Aug 27, 2007 9:15pm Aug 27, 2007 9:15pm
Cool! Thanks guys. Will check these out and play around with them...

J
  • #5,655
  • Aug 28, 2007 1:12am Aug 28, 2007 1:12am
EUR\AUD makes my demo sad... +55 pips, then I moved stop to break even, and now I'm stopped at 0 P|L. Same thing for GBP\USD, except I set stop up to 20 pip profit locked in.

May I request advice as to my decision? Was it foolish to bring my Stop up to break even? Or was it just bad luck and I did the right thing? OR - since the 50 pip bump happened in the span of about 2 hours, should I have guessed a hard retrace was coming, and just taken profit? My stops were above Pin bars (pinnochios), so I guess tomorrow we'll find out, but the pin bars also bounced off of 2 fib retraces, so I thought they would be accurate....

perhaps just a case of breaking discipline.
"Please sir, may I have some more pips?"
  • #5,656
  • Aug 28, 2007 2:22am Aug 28, 2007 2:22am
Hi guys,
could be a good option, Ive left orders on either side of the swissyIB4, daily chart. Yesterday when eur and the other pairs were flapping around it remained calmly in its place, maybe true direction will be decided when it drops below this ppz or pushes on up...take care, Raz
Never say never.
  • #5,657
  • Aug 28, 2007 2:46am Aug 28, 2007 2:46am
  •  zinc6
  • | Joined May 2007 | Status: don't just do something, sit there! | 54 Posts
Quoting J2FcM
EUR\AUD makes my demo sad... +55 pips, then I moved stop to break even, and now I'm stopped at 0 P|L. Same thing for GBP\USD, except I set stop up to 20 pip profit locked in.

May I request advice as to my decision? Was it foolish to bring my Stop up to break even? Or was it just bad luck and I did the right thing? OR - since the 50 pip bump happened in the span of about 2 hours, should I have guessed a hard retrace was coming, and just taken profit? My stops were above Pin bars (pinnochios), so I guess tomorrow we'll find out, but the pin bars also bounced off of 2 fib retraces, so I thought they would be accurate....

perhaps just a case of breaking discipline.
Hi J2FcM,

I assume these trades were off the daily chart. I am also on the EUR/AUD but passed on the GBP/USD as it did not look so hot on my datafeed.

EUR/AUD still looks pretty good on the daily chart and imho given the pin was 170+ pips long I would not move stop to b/e when it was only 50 pips in profit ... it just dosn't give the trade enough room to "breath". As a general rule of thumb I manage a trade off the daily chart from the daily chart and will not consider tightening my stop on this trade until todays current bar closes on the daily chart.

As for breaking dicipline, if you planned to move stops like this prior to entering the trade then you have followed your plan and shown dicipline. If this desision was contrary to your exit plan then dicipline may be something you need to address. If you had no clear exit plan when you entered the trade then this is also something you should probably address.

I am by no means an expert though as I have only been trading J16 PA since May ... hopefully someone more experienced will also comment.

br,

zinc6
  • #5,658
  • Aug 28, 2007 3:16am Aug 28, 2007 3:16am
I did want to lock in profits, but I became unsure... So, I figured at 50, I should lock in at least "no losses" which in effect... ruined it. HOpefully your trade will go better... the question is now do I jump back in?

the answer, YES!
Hopped back on, is this wrong? I don't see why not, since we're doing daily. I did a fib retrace, and set my limit JUUuuuuuuuust under the 38% (this is a buy). And my stop is at 1.64, under the pin bar.
If the limit is hit, should be a 200 pip gain... the stop... a 150 pip loss.
btw - thanks for the reply zinc, how has J16's strategy been treating you? Are you trading it live? And what other signals coazed you into the EUR\AUD? mine was just a nice pin, and a retrace. But being that sunday was the nose worried me!
"Please sir, may I have some more pips?"
  • #5,659
  • Aug 28, 2007 4:57am Aug 28, 2007 4:57am
Quoting J2FcM
EUR\AUD makes my demo sad... +55 pips, then I moved stop to break even, and now I'm stopped at 0 P|L. Same thing for GBP\USD, except I set stop up to 20 pip profit locked in.
Hi J2FcM,
Nice pin on EUR/AUD, but can I ask what made you jump on GBP/USD ?
Was it a pin as on my chart feed does not show up ???
Just interested.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp_usd.gif Size: 20 KB
  • #5,660
  • Aug 28, 2007 5:14am Aug 28, 2007 5:14am
Guys, I need your help.

I need you to check out this thread
http://forexfactory.com/showthread.php?t=44435

and vote for what you believe is best. Please also state your opinion in text if got the time.
It's about the new way charts are only thumbnailed instead of shown directly and I want the old way back.

I have had major headaches not being able to see my own posted charts directly in my own journal and Merlin said that if other people agree that the old way of viewing charts directly was better, he'd change it back.

I also believe that the old way of displaying charts is a lot better for posting them here and being able to read both the post content explaining what's on the chart WHILE seeing the chart AT THE SAME TIME, TOO.
Without having only a thumbnail.

So please take a look and if you liked the old way better, too, vote!

Thanks!
Trust price. Know yourself.
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