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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

  • #19,401
  • Jan 22, 2009 5:13pm Jan 22, 2009 5:13pm
Quoting trujillo1980
In this case, do you play it as a break of the PB or as a brake of the IB...??

Regards....
In the case of an IB forming after a PB, if I decide I still want to take the trade then I leave it above the pin still. Definitely no hard and fast rules with that, just again where my comfort level is


Best
mike
  • #19,402
  • Jan 22, 2009 5:40pm Jan 22, 2009 5:40pm
Quoting mbqb11
In the case of an IB forming after a PB, if I decide I still want to take the trade then I leave it above the pin still. Definitely no hard and fast rules with that, just again where my comfort level is


Best
mike

ok got it...thank you...
  • #19,403
  • Jan 22, 2009 5:54pm Jan 22, 2009 5:54pm
Quoting mbqb11
I am very picky about the areas I trade off. So to take the hourly pin like in that chart, it has to be on the round number that is above. If you noticed James posted yesterday all his intraday trades will be off round numbers. I did not know this but I do the same thing(for those in PF know in my intraday thread). So for me it is more of a waiting game. If we get the PA of the round number either way. But the zone is still there, I just prefer to wait till all things line up. Just part of what keeps me discipline.

Best
Mike

Hey there,
You guys are doing a great job here as always.I was wondering if you knew of an indicator that would draw out horizontal trend lines for the round numbers?Thanks in advance keep it up!!Read this thread everyday now!
  • #19,404
  • Jan 22, 2009 6:00pm Jan 22, 2009 6:00pm
Quoting jlmac27
Hey there,
You guys are doing a great job here as always.I was wondering if you knew of an indicator that would draw out horizontal trend lines for the round numbers?Thanks in advance keep it up!!Read this thread everyday now!
here ya go if you have trouble with it shoot me a PM

example of settings I use on usd/chf

hgrid weeks - 100
hgrid pips - 10000
h line - dimgray
h line 2 - orange
gridtime - 15
time grid 240
colorhour - 16
time line - none
time line 2 - none
Attached File(s)
File Type: mq4 Grid_v1_0.mq4   6 KB | 731 downloads
  • #19,405
  • Jan 22, 2009 6:04pm Jan 22, 2009 6:04pm
Quoting bundyraider
OOooooooo....

Tripple divergence on the 1 hour.
Is this tripple divergence? Wow . . . wait a minute . . . looks pretty tough to trade in a trending market. Thank God for the Daily.

Jim
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #19,406
  • Jan 22, 2009 6:17pm Jan 22, 2009 6:17pm
Quoting mbqb11
here ya go if you have trouble with it shoot me a PM

example of settings I use on usd/chf

hgrid weeks - 100
hgrid pips - 10000
h line - dimgray
h line 2 - orange
gridtime - 15
time grid 240
colorhour - 16
time line - none
time line 2 - none
Thanks man,
Buuuut these are horizontal lines.I followed the setting but no luck....Is this the right indicator?
  • #19,407
  • Jan 22, 2009 6:20pm Jan 22, 2009 6:20pm
Quoting jlmac27
Thanks man,
Buuuut these are horizontal lines.I followed the setting but no luck....Is this the right indicator?
yes they are but you have to play with the settings depending on your broker. If you don't have 5 digits then you need to leave a zero off the pips setting to 1000, not 10000
  • #19,408
  • Jan 22, 2009 6:29pm Jan 22, 2009 6:29pm
Quoting mbqb11
yes they are but you have to play with the settings depending on your broker. If you don't have 5 digits then you need to leave a zero off the pips setting to 1000, not 10000
Thanks again
I was meaning to say vertical lines in my last post.Excuse my head up my a%#.I played with and got it to work....thanks a bunch!!
  • #19,409
  • Jan 22, 2009 6:36pm Jan 22, 2009 6:36pm
hi teachers. can you all please tell me how you best calculate & then plot your ppz's on your charts? what platforms do you use to do this? ie tradestation? do these platforms do it automatically for you or do you have to enter the previous period's (monthly, weekly, daily) highs/lows/closes & then it automatically plots the lines for you? thx.
  • #19,410
  • Jan 22, 2009 6:40pm Jan 22, 2009 6:40pm
I think somebody already threw up a chart of this, but what the heck. Looks like we may be in for a big move south sometime soon...

Attached Image (click to enlarge)
Click to Enlarge Name: usdchfd1.gif Size: 29 KB

Attached Image (click to enlarge)
Click to Enlarge Name: usdchfw1.gif Size: 29 KB

Attached Image (click to enlarge)
Click to Enlarge Name: usdchfm1.gif Size: 27 KB


Tyler
skype: ststroud. let's talk trading.
  • #19,411
  • Jan 22, 2009 6:52pm Jan 22, 2009 6:52pm
Hi mbqb11,

There is a book about the structures of the forex market, a while ago it was suggested as a must read on some thread that I can't remember, I tried to look for it on Amazone but couldn't find it either, I wonder if you know what I'm talking about and if so could tell me the right title and the Author's name... Thanks a lot.
Sebastien.
  • #19,412
  • Jan 22, 2009 7:03pm Jan 22, 2009 7:03pm
I read that the Swiss are wanting to arrest the rise in the Swissy and will probably begin selling them. This from a Goldman Sachs analyst so it is definitely FWIW. In any event, if true it may not bode well for the USDCHF going down much.
  • #19,413
  • Jan 22, 2009 7:12pm Jan 22, 2009 7:12pm
hmm...Only time will tell...

Tyler

Quote
I read that the Swiss are wanting to arrest the rise in the Swissy and will probably begin selling them. This from a Goldman Sachs analyst so it is definitely FWIW. In any event, if true it may not bode well for the USDCHF going down much.
skype: ststroud. let's talk trading.
  • #19,414
  • Jan 22, 2009 7:16pm Jan 22, 2009 7:16pm
Quoting james16
you sure can and if that round number has a supporting cast of confluence its often money in the bank.
Supporting cast of confluence. It's got a nice ring to it.

Nice.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #19,415
  • Jan 22, 2009 7:28pm Jan 22, 2009 7:28pm
Quoting jarroo
Is this tripple divergence? Wow . . . wait a minute . . . looks pretty tough to trade in a trending market. Thank God for the Daily.

Jim
Yes. Rarer. And more powerful. If I'd had noticed it earlier, I'd have faded that failure to match the high around 15:00 GMT for sure.

Was awake too. Numb nuts here drank a Red Bull at 5pm yesterday.
Bundy's status today: "Waiting..."
  • #19,416
  • Jan 22, 2009 8:11pm Jan 22, 2009 8:11pm
you might get another shot at it Bundy.
As it runs up & tests the lows of the hourly pins which gave the initial drop.
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Click to Enlarge Name: eg.gif Size: 13 KB
  • #19,417
  • Jan 22, 2009 8:15pm Jan 22, 2009 8:15pm
Quoting OGW
Hi mbqb11,

There is a book about the structures of the forex market, a while ago it was suggested as a must read on some thread that I can't remember, I tried to look for it on Amazone but couldn't find it either, I wonder if you know what I'm talking about and if so could tell me the right title and the Author's name... Thanks a lot.
Sebastien.
Hi Sebastien,

Do you mean this thread?

http://www.forexfactory.com/showthread.php?t=7484

Mike
  • #19,418
  • Edited 8:37pm Jan 22, 2009 8:17pm | Edited 8:37pm
Quoting dkmb92
hi teachers. can you all please tell me how you best calculate & then plot your ppz's on your charts? what platforms do you use to do this? ie tradestation? do these platforms do it automatically for you or do you have to enter the previous period's (monthly, weekly, daily) highs/lows/closes & then it automatically plots the lines for you? thx.
PPZs can be done on any platofrm. It is just observing areas of support and resistance. They are not done by any indicator or what not.

Check these posts out by James(within an older post I made)

http://www.forexfactory.com/showthre...16#post2252116

Best

Mike
  • #19,419
  • Jan 22, 2009 8:36pm Jan 22, 2009 8:36pm
Quoting mbqb11
PPZs can be done on any platofrm.
Check these posts out by James(within an older post I made)
Might want to update the link to this one to go to the specific post directly

http://www.forexfactory.com/showthre...16#post2252116

The one you posted was a cleanup link and someone might accidentally try to report the post.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #19,420
  • Jan 22, 2009 8:37pm Jan 22, 2009 8:37pm
Quoting Thexder
Might want to update the link to this one to go to the specific post directly

http://www.forexfactory.com/showthre...16#post2252116

The one you posted was a cleanup link and someone might accidentally try to report the post.
HAHA that was a first for me! Thanks
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