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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

  • #8,461
  • Edited 6:23pm Dec 30, 2007 6:13pm | Edited 6:23pm
Quoting saskgui
So what exactly is the difference between a ppz and s/r point?
Do you mean pivot point, or s/r area? Pivot points are actually calculations, where as ppz are determined by trader discretion. Here is a daily chart with weekly pivot points and s/r areas plotted via indicator. The blue shaded area is more of a zone.
This post has a good description of pivot points and their corresponding s/r plots. http://www.forexfactory.com/showthread.php?t=5441
You could try this post for some pivot indicators.
http://www.forexfactory.com/showpost...23&postcount=2
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  • #8,462
  • Dec 30, 2007 8:42pm Dec 30, 2007 8:42pm
Hello giuhd,
Different brokers have different price action as it is their individual customers which move their charts, as opposed to commodities or the stock markets, which have a central clearing house which consolidate all the different brokers prices to one price at one place in time. I use Interbank FX and North Finance and the price bars will frequently be different for any bar.
As examples
This is Interbank for 122807, clearly a pinbar:
http://www.forexfactory.com/attachme...1&d=1199067242

This is North Finance for 122807, the open and close are not within 1/3 of the high or low so no pinbar:
http://www.forexfactory.com/attachme...1&d=1199067396
The advise I have received is that you trade from what your chart says it is.

This is a more ideal pinbar, the size is right and the position is right ( it’s at the end of a big run up), with a good long tail.
http://www.forexfactory.com/attachme...1&d=1199067738

In regards to your post #8450, it may turn out well, but I wouldn't take it because based on just the pinbar it is not a A+ (if it were on 50% or 61.8% fib line, or at a PPZ, or at a major moving average, or even better at a confluence of these it would be more of an A+ trade). I try to only take trades which put the odds more in my favor.
Sorry for the delay in getting back to you,
Roy
  • #8,463
  • Dec 30, 2007 8:51pm Dec 30, 2007 8:51pm
Quoting eroyh
Hello giuhd,
[font=Verdana][color=black]Different brokers have different price action as it is their individual customers which move their charts, [font=Verdana]
Are you sure about this... ??? Different brokers show different candles because they aren't geared to the same time frame...

I don't think the individual customers of a broker change that brokers charts...!!!
  • #8,464
  • Dec 30, 2007 9:20pm Dec 30, 2007 9:20pm
Quoting Tiki Trader
Are you sure about this... ??? Different brokers show different candles because they aren't geared to the same time frame...

I don't think the individual customers of a broker change that brokers charts...!!!
Yes this is right. It's the time zone differences that make the different candle/bar formations for each broker feed.

If you're with a broker whose charts are based on the ordeflow of only their own customers, you better change brokers.
  • #8,465
  • Dec 30, 2007 9:20pm Dec 30, 2007 9:20pm
Quoting TradeStar
Mike,

This is the one I was talking about.
Entered on green line with SL at Red line.

Thanks,
TradeStar

My analysis for USD-JPY.

1. On 27 Dec 2007 we have BEOB near Trend Line.
2. sinced 27 November the trend is bullist so this make BEOB more valid
3. Price broke below BEOB and below support.

For me I would have short that trade around 113.16.

Anyone have the same analysis with me?
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  • #8,466
  • Dec 30, 2007 9:38pm Dec 30, 2007 9:38pm
Quoting jatis


Anyone have the same analysis with me?
Given the strength of the latest move down, I wouldn't be surprised to see 110.90 before market closes tomorrow. TP 110 and eventually ....... 100.
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  • #8,467
  • Dec 30, 2007 9:52pm Dec 30, 2007 9:52pm
Quoting Tiki Trader
break down below PPZ... retrace to resistance / ppz... SHORT... break down again... retrace to resistance / ppz...


This just has never really clicked with me.... until today...!!! A revalation...!!!!!!

...
Hey Tiki,

Sometimes when you wait for retracement it never happens and if it does, it might be a full blown reversal like with u/c few weeks ago. Anyways, a friend of mine collected several hundred pips on this move alone and is looking for about 80-100ps more.
Very well done..., this would be my wish for the New Year: a transition from 80-160ps scalps to catching the big ones....
Happy New 2008 everyone!
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  • #8,468
  • Dec 30, 2007 9:53pm Dec 30, 2007 9:53pm
Hello Tiki,
My oversight, you are absolutely right. We are currently on the 0300 bar on the Interbank chart and 0500 on the North Finance chart, so this definitely will affect how the bars present. I was mainly trying to point out that the charts will be different with different brokers. I do think the the cumulative
total of a brokers trades have to affect its posted price but it wil only differ a few pips on the hourly bars . Take the 1100 hourly bar on 122807 on Interbank's chart and it shows the close as 1.9996, while the 1300 hourly bar on 122807 on North Finance's chart shows the close as 1.9987. It clearly seems they coordinate fairly closely but without a common clearing house there is bound to be some variance in price. This variance if you take out the variables and adapt the charts (such as 1100/1300 hourly bars & the weekly close price) must be affected by the trades the individual brokers post.

I am sure individual traders don't affect the price but the cumulative total of a brokers customers has to affect the price. Oh and I'm not completely sure about the mechanics, I'm just sayin.

I see you are from Houston, a suburb of my city, Pasadena.
Keep taking those pips,
Roy
  • #8,469
  • Dec 30, 2007 10:13pm Dec 30, 2007 10:13pm
YES, BUT... it gives you a chance to have your stop in the right place so as not to lose much...... OR, it is a PP ( Zone ) and you look for the PA to tell you what to do... OR, if you have already followed the trend successfully by retracing to the PPZs then, the breaks... you are going to give up the last leg anyways... it's part of letting the profits run... NO ???

Regardless.... you turned on a light for me...!!! I wish I could just find the master switch.... instead of turning on all the lights seperately !!!

Quoting raczekfx
Hey Tiki,

Sometimes when you wait for retracement it never happens and if it does, it might be a full blown reversal like with u/c few weeks ago. Anyways, a friend of mine collected several hundred pips on this move alone and is looking for about 80-100ps more.
Very well done..., this would be my wish for the New Year: a transition from 80-160ps scalps to catching the big ones....
Happy New 2008 everyone!
  • #8,470
  • Dec 30, 2007 10:23pm Dec 30, 2007 10:23pm
And also... once price reversed... it once again followed the same pattern down... retrace to PPZ... break down... retrace to PPZ...!!!

Quoting raczekfx
Hey Tiki,

Sometimes when you wait for retracement it never happens and if it does, it might be a full blown reversal like with u/c few weeks ago. Anyways, a friend of mine collected several hundred pips on this move alone and is looking for about 80-100ps more.
Very well done..., this would be my wish for the New Year: a transition from 80-160ps scalps to catching the big ones....
Happy New 2008 everyone!
  • #8,471
  • Dec 30, 2007 10:30pm Dec 30, 2007 10:30pm
Ha !!!!! Yeah I am way out in the suburbs of Pasedena... !! West Little York and HWY 6...

Quoting eroyh
Hello Tiki,
My oversight, you are absolutely right. We are currently on the 0300 bar on the Interbank chart and 0500 on the North Finance chart, so this definitely will affect how the bars present. I was mainly trying to point out that the charts will be different with different brokers. I do think the the cumulative
total of a brokers trades have to affect its posted price but it wil only differ a few pips on the hourly bars . Take the 1100 hourly bar on 122807 on Interbank's chart and it shows the close as 1.9996, while the 1300 hourly bar on 122807 on North Finance's chart shows the close as 1.9987. It clearly seems they coordinate fairly closely but without a common clearing house there is bound to be some variance in price. This variance if you take out the variables and adapt the charts (such as 1100/1300 hourly bars & the weekly close price) must be affected by the trades the individual brokers post.

I am sure individual traders don't affect the price but the cumulative total of a brokers customers has to affect the price. Oh and I'm not completely sure about the mechanics, I'm just sayin.

I see you are from Houston, a suburb of my city, Pasadena.
Keep taking those pips,
Roy
  • #8,472
  • Dec 30, 2007 10:31pm Dec 30, 2007 10:31pm
Quoting qiuhd
Hey mrozibakar,

Check this link out http://www.forexfactory.com/showthre...=2331&page=370

Post #5541

Those two files are just about pin bar.
Hope this will help.

Qiu
Hi Qiu.. Thanks a lot for your response. Ill look inyo that link.
Bye for now.http://www.forexfactory.com/images/icons/icon7.gif
  • #8,473
  • Dec 30, 2007 10:34pm Dec 30, 2007 10:34pm
A lot of little ones add up to big ones...!!! I'd take either way !!!

Quoting raczekfx
Hey Tiki,

Sometimes when you wait for retracement it never happens and if it does, it might be a full blown reversal like with u/c few weeks ago. Anyways, a friend of mine collected several hundred pips on this move alone and is looking for about 80-100ps more.
Very well done..., this would be my wish for the New Year: a transition from 80-160ps scalps to catching the big ones....
Happy New 2008 everyone!
  • #8,474
  • Edited 3:31am Dec 31, 2007 3:03am | Edited 3:31am
Quoting eroyh
Hello giuhd,
Different brokers have different price action as it is their individual customers which move their charts, as opposed to commodities or the stock markets, which have a central clearing house which consolidate all the different brokers prices to one price at one place in time. I use Interbank FX and North Finance and the price bars will frequently be different for any bar.
As examples
This is Interbank for 122807, clearly a pinbar:
http://www.forexfactory.com/attachme...1&d=1199067242

This is North Finance for 122807, the open and close are not within 1/3 of the high or low so no pinbar:
http://www.forexfactory.com/attachme...1&d=1199067396
The advise I have received is that you trade from what your chart says it is.

This is a more ideal pinbar, the size is right and the position is right ( it’s at the end of a big run up), with a good long tail.
http://www.forexfactory.com/attachme...1&d=1199067738

In regards to your post #8450, it may turn out well, but I wouldn't take it because based on just the pinbar it is not a A+ (if it were on 50% or 61.8% fib line, or at a PPZ, or at a major moving average, or even better at a confluence of these it would be more of an A+ trade). I try to only take trades which put the odds more in my favor.
Sorry for the delay in getting back to you,
Roy

Yeah, you are right, only take the best setup. I will do that too, I did not take this one either, because of the year end.

You clear the idea of best setup for me, thanks.

Could you tell me what major moving averages are you use? and how often those good setups show up on daily chart for one pair? thanks a lots and happy new year.

Qiu
  • #8,475
  • Dec 31, 2007 3:40am Dec 31, 2007 3:40am
Quoting HipsterPipster
PPZ areas are determined at areas where price has clearly and repeatedly found S/R. They are not pivot points, although you may find them in similiar areas. I would not count this as a PPZ in your chart. Also, I would encourage you to go through this thread and read past posts. Many of your questions will be answered, and pay attention to James16's posts. Good pips.
Thanks HipsterPipster,
I will read this thread more.
Qiu
  • #8,476
  • Dec 31, 2007 6:50am Dec 31, 2007 6:50am
HAPPY NEW YEAR everybody.

May 2008 be the year you find confidence & capital to trade full time.


Regards,


BabeFX.
  • #8,477
  • Dec 31, 2007 7:02am Dec 31, 2007 7:02am
hey,

wanted to wish everyone a happy new year. May your trading improve so that you all become wealthy some time in the future.

I shorted CADJPY on the weekly pinbar. The top of the PB is exactly at the 50 fib retracement from the recent high. JPY seems to be gaining strength on the other pairs (see raczkes post) as well so it was worth a short for me.

Chris
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  • #8,478
  • Dec 31, 2007 7:55am Dec 31, 2007 7:55am
Quoting qiuhd
Thanks HipsterPipster,
I will read this thread more.
Qiu
Your welcome, lots of wisdom here.
  • #8,479
  • Dec 31, 2007 8:00am Dec 31, 2007 8:00am
What a beautiful way to wake up to the end of the year !!! Winning trade right to the PPZ... blowing right past my target... new year will be a new way of thinking forr me...

raxzek... thanks for finaly turning on such a bright light....!!!

Just Beautiful !!!
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  • #8,480
  • Dec 31, 2007 8:06am Dec 31, 2007 8:06am
Looks like price staying in the consolidation zone still, for the time being....
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