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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

  • #15,581
  • Nov 21, 2008 5:04am Nov 21, 2008 5:04am
Quoting Greenhaze
If its BEOB then you wait for it to close and trigger the short entry under the bar. Watch out fo support at 1.2150.
complete newb question. How do i know when the bar has BEOB has closed? When the new bar forms? Sorry to dumb down the forum.
  • #15,582
  • Nov 21, 2008 5:07am Nov 21, 2008 5:07am
Quoting forexben
complete newb question. How do i know when the bar has BEOB has closed? When the new bar forms? Sorry to dumb down the forum.
Yep , the bar is closed when the new one forms.
  • #15,583
  • Nov 21, 2008 5:09am Nov 21, 2008 5:09am
Quoting forexben
complete newb question. How do i know when the bar has BEOB has closed? When the new bar forms? Sorry to dumb down the forum.
You're not dumbing the forum atall forexben, this is the number one thing you need to get out of your head when you visit this forum, this thread in particular

The bar close is indicated by the start of a new bar, you may also keep the clock indicator on your chart to let you know how much time is left for it to close, let me see if i can find you one...
I believe . . .
  • #15,584
  • Nov 21, 2008 5:11am Nov 21, 2008 5:11am
looking for some price acion at 7480
38.2 and 61.8 fib line up with S/R
looking to go short with the trend if get an entry signal
Attached Image (click to enlarge)
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  • #15,585
  • Nov 21, 2008 5:22am Nov 21, 2008 5:22am
doesn't have the best support that i can see but does have a fib50 and would be with the trend.
anyone with more experience have a view on this
Attached Image (click to enlarge)
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  • #15,586
  • Edited 5:36am Nov 21, 2008 5:23am | Edited 5:36am
Quoting ghous
You're not dumbing the forum atall forexben, this is the number one thing you need to get out of your head when you visit this forum, this thread in particular

The bar close is indicated by the start of a new bar, you may also keep the clock indicator on your chart to let you know how much time is left for it to close, let me see if i can find you one...
Here is the one i use fxBen:

Instructions:

1) open and save the file on your computer
2) right click your mt4 icon and hit the properties tab.
3) hit the "find target" and look for the experts folder
4) In the experts folder you'll find another folder labelled "indicators"
5) open this folder and paste this file in it.
6) restart your mt4 and hit the navigator button on the top left hadn side of the screen (a yellow star)
7) from the menu that now appears on the left choose " custom indicators" you should find the clock indo there
8) drag it on your mt4 and set your options:

i) in the common tab makse sure you click "allow DLL imports"
ii) in the inputs section select the color you want the clock to be in. (DONT WORK OUT THE COLORS ON THE "COLORS" TAB IT WON"T WORK!!)

Youre Done!

let me know how you find it...

Regards,
Ghous.
Attached File(s)
File Type: ex4 Clock v1_2.ex4   13 KB | 519 downloads
I believe . . .
  • #15,587
  • Nov 21, 2008 5:46am Nov 21, 2008 5:46am
GBPJPY 14400 looks like a good place for some price action if it can get that far
will be waiting to see if can go short from here with the trend
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_JPY (21-NOV-08).png Size: 17 KB
  • #15,588
  • Nov 21, 2008 6:16am Nov 21, 2008 6:16am
Quoting ghous
Here is the one i use fxBen:

Instructions:

1) open and save the file on your computer
2) right click your mt4 icon and hit the properties tab.
3) hit the "find target" and look for the experts folder
4) In the experts folder you'll find another folder labelled "indicators"
5) open this folder and paste this file in it.
6) restart your mt4 and hit the navigator button on the top left hadn side of the screen (a yellow star)
7) from the menu that now appears on the left choose " custom indicators" you should find the clock indo there
8)...
Thanks mate!
  • #15,589
  • Nov 21, 2008 7:21am Nov 21, 2008 7:21am
hi guys,
take a look at the pinbar forming on GBP/CHF
I took 2 hours pinbar but there is also a pinbar on 4 hours

strong resistence here
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf.jpg Size: 52 KB
  • #15,590
  • Nov 21, 2008 10:27am Nov 21, 2008 10:27am
Attached Image (click to enlarge)
Click to Enlarge Name: trade 211108 4h.gif Size: 26 KB
  • #15,591
  • Nov 21, 2008 11:18am Nov 21, 2008 11:18am
Another day with plenty of PA gifts. This one was a beautiful one with nice confluence and good for some 250ps. TP down to a pip.
Have a great weekend!

R
Attached Image
  • #15,592
  • Nov 21, 2008 11:23am Nov 21, 2008 11:23am
Raczekfx,

I passed on this trade due to what appeared to be support not too far below the Pin bar.

Did you wait for a break of this support to enter the trade? Did the support not concern you? Do I suck and cannot pick out support and resistence and scared myself out of a good trade (LOL, probably true)?

Thanks!
  • #15,593
  • Nov 21, 2008 11:31am Nov 21, 2008 11:31am
Quoting unlv_tj
Raczekfx,

I passed on this trade due to what appeared to be support not too far below the Pin bar.

Did you wait for a break of this support to enter the trade? Did the support not concern you? Do I suck and cannot pick out support and resistence and scared myself out of a good trade (LOL, probably true)?

Thanks!
no, I didn't. If you read my previous posts, my favorite setup is between 50/61 fib near confluence areas... It's anything but conservative entry. The first resistance, I was looking at was around 1.48 (watch James free videos for hints )
I missed my R-db setup, otherwise I'd be in it at 1.5056 with 25pip stop..
  • #15,594
  • Nov 21, 2008 11:55am Nov 21, 2008 11:55am
Quoting unlv_tj
Raczekfx,

I passed on this trade due to what appeared to be support not too far below the Pin bar.

Did you wait for a break of this support to enter the trade? Did the support not concern you? Do I suck and cannot pick out support and resistence and scared myself out of a good trade (LOL, probably true)?

Thanks!

ditto. Sometimes missing a good trade feels worse that losing on a bad one!
  • #15,595
  • Nov 21, 2008 12:17pm Nov 21, 2008 12:17pm
Quoting raczekfx
Another day with plenty of PA gifts. This one was a beautiful one with nice confluence and good for some 250ps. TP down to a pip.
Have a great weekend!

R

i was in the same trade, only i thought over some time perhaps it might break that low and go further down....
did u exit on the low or did u wait a bit on retrace to see if it would attemp to break the low

i got out on the bullish pin type pattern on 1hr
  • #15,596
  • Nov 21, 2008 1:03pm Nov 21, 2008 1:03pm
Hallo,got in yesterday on GBP/USD at the break- low of a not beautiful PIN bar on daily time frame.
Shall i close the trade today or hold it for the week end?

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 26 KB
Patience is essential
  • #15,597
  • Nov 21, 2008 1:23pm Nov 21, 2008 1:23pm
Quoting benem
Hallo,got in yesterday on GBP/USD at the break- low of a not beautiful PIN bar on daily time frame.
Shall i close the trade today or hold it for the week end?

Thanks
What does your trading plan say you should do?

If you don't have a trading plan close the trade and you need to work on this.
  • #15,598
  • Nov 21, 2008 1:24pm Nov 21, 2008 1:24pm
Quoting benem
Hallo,got in yesterday on GBP/USD at the break- low of a not beautiful PIN bar on daily time frame.
Shall i close the trade today or hold it for the week end?

Thanks
Hi Benem,

I'll leave it to others to talk about the merits of this pinbar. In answer to your question, I would advise you to get out now because you have asked this question on the forum, which seems to imply that you do not have a plan for the trade (where it may go, where to take profit or partial profit, where to move stop etc).

Maybe you are seeking advice to reinforce your belief of where it may go, but if it goes against you, it is then easy to lay the responsibility at someone else's door and not take responsibility for it.

It should not matter what anyone else thinks, if you have a plan, stick to it. If not, get out and record it as an impulse trade in your journal.

Good trading
  • #15,599
  • Nov 21, 2008 1:25pm Nov 21, 2008 1:25pm
Quoting fxprocessor
What does your trading plan say you should do?

If you don't have a trading plan close the trade and you need to work on this.
haha, just beaten to it.
  • #15,600
  • Nov 21, 2008 1:36pm Nov 21, 2008 1:36pm
Thank you....you gave me the input to reinforce this aspect of my trading sistem.I'll get this reproach to grow up as trader.

cheers.
Patience is essential
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