james16 Chart Thread | Page 782 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #15,621
  • Nov 22, 2008 1:25pm Nov 22, 2008 1:25pm
Guys,
I have been wondering about bar/candle pattern 4hour chart. As we have different broker which seems to have different server time, more likely it will produce different form of candle/bar, doesn't it? Let's say, it's possible that I have DBHLC on my platform (4Hour tf), but others may have it differently. So, how do we manage this? Which is the right one(time open/close) to use?

Thx,
tJ#8
  • #15,622
  • Nov 22, 2008 1:45pm Nov 22, 2008 1:45pm
Quoting tj#8
Guys,
I have been wondering about bar/candle pattern 4hour chart. As we have different broker which seems to have different server time, more likely it will produce different form of candle/bar, doesn't it? Let's say, it's possible that I have DBHLC on my platform (4Hour tf), but others may have it differently. So, how do we manage this? Which is the right one(time open/close) to use?

Thx,
tJ#8
Hey TJ'

Yes this is correct since forex is not centralized this will vary from broker to broker. The general rule is play it how you see it. There is no one right time. Price is still price though it is just how that price is aggregated into the bars we see on our charts.

Have a great weekend

Mike
  • #15,623
  • Nov 22, 2008 2:54pm Nov 22, 2008 2:54pm
"..play it how we see it.."
Cool!! Thanks Mike!!
  • #15,624
  • Nov 22, 2008 6:00pm Nov 22, 2008 6:00pm
Quoting tj#8
Guys,
I have been wondering about bar/candle pattern 4hour chart. As we have different broker which seems to have different server time, more likely it will produce different form of candle/bar, doesn't it?
One way to think about the rationalization for playing the chart however you see it on yours is this. Overall the setups are high probability when they do show up on a given chart. So sometimes one person's chart shows a pin and it leads to a profitable trade while on your chart you saw one bar shoot up and close high, then the other bar shot down and closed low (maybe it was a 2 bar pin on your chart) so you miss out on that one, but next time you get a pin to trade, the first person's chart doesn't show a pin and they miss it but you get the trade.
It's just a tool to help make sense of the ups and downs so each chart will have enough setups to take and there's no worry to try finding every one across all possible charts.

Whenever you do see a setup, it means there is definitely activity to interpret at that time (a reversal or continuation at a key area giving a high probability setup) but if you don't see a setup, maybe there is going to be a key move (and maybe another chart catches it) but if your chart misses it, no harm done. Just take note when the setup does come because it does say something about what's happening. Nobody can get the whole story all the time.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #15,625
  • Nov 22, 2008 9:24pm Nov 22, 2008 9:24pm
Quoting bjpumping
davema, thanks you so much.i really appreciate it.

i am still reading this thread but i must say its going to take lots of patience.anyway, i still want to ask...do you guys on here use other indicators with price action or just price action,fibonacci, trendlines??

and if there are any indicators....what are they?

for me i use fib and trendlines and now i want to look closely at candle formations.

answers are welcomed.

happy pips taking
Hi Bjpumping,
As Ghous pointed out you can use an indicator such as macd to spot divergences. The chart shows divergence between price and macd. Price is making a higher high and macd failed to make a higher high. You would then look for confluences and price action for a short entry.
Take care,
Dave
  • #15,626
  • Nov 22, 2008 9:28pm Nov 22, 2008 9:28pm
Sorry, did not upload chart.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Nov. 22 18.01.gif Size: 15 KB
  • #15,627
  • Nov 23, 2008 9:54am Nov 23, 2008 9:54am
Quoting unlv_tj
Raczekfx,

I passed on this trade due to what appeared to be support not too far below the Pin bar.
Did the support not concern you?
Thanks!
Hi, Raczek!
Always nice to see You around!
I think unlv wanted to ask You wheather the 4H bar highs and lows (blue line) concerned You, or not?
Am I right when I think, this trade was based on D1 pin eye level, and You set the target based on daily bars, not 4H?
Correct me, please, if I wrong!
THX, Laszlo
Attached Image
  • #15,628
  • Nov 23, 2008 10:34am Nov 23, 2008 10:34am
Quoting lacika
Hi, Raczek!
Always nice to see You around!
I think unlv wanted to ask You wheather the 4H bar highs and lows (blue line) concerned You, or not?
Am I right when I think, this trade was based on D1 pin eye level, and You set the target based on daily bars, not 4H?
Correct me, please, if I wrong!
THX, Laszlo
ok. I'll give you a hint, but you'd have to figure out the rest by yourself....
(just ignore that buy line, you see on the chart)

That short trade was based on a combination of:

1. what was captured by blue rectangle on 1hr chart attached...
2. a 4hr chart, I posted on Friday
and 3. (see next post)
Attached Image
  • #15,629
  • Nov 23, 2008 10:40am Nov 23, 2008 10:40am
Quoting raczekfx
..
and 3. (see next post)
... and this daily chart, which is self explanatory. You know I can't say just everything. There are only few poeople who post here, but there are hundreds other lurkers, who will combine this info into a system e-book and sell it on ebay or other websites. We have to keep some secrets hidden from a generic public......

(kidding of course)
.
Attached Image
  • #15,630
  • Nov 23, 2008 11:17am Nov 23, 2008 11:17am
Well, I am one of the guys that follow the thread but never post.
But I swear that I will contribute more.

I started to trade forex two years ago but I've never had consistency in my balance. In the beggining of this year I started to read this whole thread. What amazing thread!! I did my 3 months of demo trading and some months ago I came back to trade with my live account.

So, since I was "naked" and apply what I learned with you guys, my account always grow up!

So, I wanna thank James, Jarroo, Raczekfx and all the other guys that make this thread the best of the FF.

and sorry for my english
  • #15,631
  • Nov 23, 2008 1:13pm Nov 23, 2008 1:13pm
Quoting LordElessar
Well, I am one of the guys that follow the thread but never post.
But I swear that I will contribute more.

I started to trade forex two years ago but I've never had consistency in my balance. In the beggining of this year I started to read this whole thread. What amazing thread!! I did my 3 months of demo trading and some months ago I came back to trade with my live account.

So, since I was "naked" and apply what I learned with you guys, my account always grow up!

So, I wanna thank James, Jarroo, Raczekfx and all the other guys that make...
I admire your Perseverance. A key ingredient in this business. Trust me, it gets easier.
Through practise (and losses) comes experience. Through experience (and successes) comes confidence. With confidence comes knowing the difference between a good trade and a not so good trade because bad trades are never taken.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #15,632
  • Nov 23, 2008 1:50pm Nov 23, 2008 1:50pm
very nice.

i especially like the 3 months of demo.

get involved because the new people need to know that demo and chart time are crucial before going live.

jim



Quoting LordElessar
Well, I am one of the guys that follow the thread but never post.
But I swear that I will contribute more.

I started to trade forex two years ago but I've never had consistency in my balance. In the beggining of this year I started to read this whole thread. What amazing thread!! I did my 3 months of demo trading and some months ago I came back to trade with my live account.

So, since I was "naked" and apply what I learned with you guys, my account always grow up!

So, I wanna thank James, Jarroo, Raczekfx and all the other guys that make...
  • #15,633
  • Nov 23, 2008 4:17pm Nov 23, 2008 4:17pm
are we going to break this resistance on the first try?
I doubt it, but who knows. If not, I'd expect some pullback on yen crosses....
At least we know exactly why price stopped where it did.
.
Attached Image
  • #15,634
  • Nov 23, 2008 4:24pm Nov 23, 2008 4:24pm
Will this Beovb work out as we would expect? Let's watch it..
.
Attached Image
  • #15,635
  • Nov 23, 2008 4:30pm Nov 23, 2008 4:30pm
why is yeppy having problems breaking, higher?
Here's the chart.
.
Attached Image
  • #15,636
  • Nov 23, 2008 4:33pm Nov 23, 2008 4:33pm
How about e/j?

Exactly the same reason as g/j.
.
Attached Image
  • #15,637
  • Nov 23, 2008 4:40pm Nov 23, 2008 4:40pm
and fiber is getting tighter and tighter.... Something's got to snap soon..
.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 20 KB
Attached Image
  • #15,638
  • Nov 23, 2008 4:54pm Nov 23, 2008 4:54pm
Quoting raczekfx
and fiber is getting tighter and tighter.... Something's got to snap soon..
.
Thanx for posting the charts.

I don't know what your definition of "soon" is but EURUSD should continue the bear trend, I see no reason why it would stop. On D1, the 200MA should cross below the 365SMA sometime this week and I believe that indicates a continuation in the trend.
  • #15,639
  • Nov 23, 2008 5:08pm Nov 23, 2008 5:08pm
Quoting LongToBeFree
Thanx for posting the charts.

I don't know what your definition of "soon" is but EURUSD should continue the bear trend, I see no reason why it would stop. On D1, the 200MA should cross below the 365SMA sometime this week and I believe that indicates a continuation in the trend.
Should, would, could.... perhaps it will, perhaps it will hit 1.30 first.
Sorry, I know nothing about crossing MAs systems...
  • #15,640
  • Edited 6:45pm Nov 23, 2008 6:45pm | Edited 6:45pm
Since i favor PA trades with the trend i was tempted by this PB indicating a continuation of the trend... it did bounce of resistance but not enough space to suggest a high probability of moving my SL to BE so i am passing.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp_chf daily pin.gif Size: 9 KB
92 traders viewing now