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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

  • #20,941
  • Feb 10, 2009 3:04pm Feb 10, 2009 3:04pm
Quoting mbqb11
I would be willing to look for PA on h1/h4/daily etc. It may come it may not. It may be today/tommorow/next week. The important thing to me is to correctly identify these important areas, and then be patient and let the market come to me. If PA is iffy, I pass. No need to chase this one. Many important areas will be hit today/tomm/next month/next year


Best
Mike
Yeah, funny how my best trades are the ones that I truly "wait" for. Discipline is a bitch sometimes.
  • #20,942
  • Feb 10, 2009 3:27pm Feb 10, 2009 3:27pm
A few different people PM'd me about this indicator I had in some of my charts.

I don't use it for any of those bars in the top right corner, I could not even tell you what any of them mean or are supposed to do. It IS good for spread and Magnified market price though. And I like how it rests in the top right corner
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File Type: ex4 #Signal_Bars_v6.ex4   54 KB | 725 downloads
  • #20,943
  • Feb 10, 2009 3:40pm Feb 10, 2009 3:40pm
Quoting Jigsaw
A few different people PM'd me about this indicator I had in some of my charts.

I don't use it for any of those bars in the top right corner, I could not even tell you what any of them mean or are supposed to do. It IS good for spread and Magnified market price though. And I like how it rests in the top right corner
Hey Jig...If you want to dump that indicator, let me know. I have a nice Magnified Price and I also have a candle time countdown with spread attached...very tiny, see below. Let me know.

MG
Attached Image
  • #20,944
  • Feb 10, 2009 3:43pm Feb 10, 2009 3:43pm
Man thats exactly what I need lol

I honestly have not found a good Magnified Market price, there are EA's to do everything but nobody can get me a good Market price.

Yeah post that will you bro ?
  • #20,945
  • Feb 10, 2009 3:56pm Feb 10, 2009 3:56pm
Quoting Jigsaw
Man thats exactly what I need lol

I honestly have not found a good Magnified Market price, there are EA's to do everything but nobody can get me a good Market price.

Yeah post that will you bro ?
Here ya go. Enjoy...MG
Attached File(s)
File Type: zip Magnified_price Bar Clock.zip   15 KB | 739 downloads
  • #20,946
  • Feb 10, 2009 3:58pm Feb 10, 2009 3:58pm
Quoting Jigsaw
Man thats exactly what I need lol

I honestly have not found a good Magnified Market price, there are EA's to do everything but nobody can get me a good Market price.

Yeah post that will you bro ?
Patience + Humility + Study = Success
  • #20,947
  • Feb 10, 2009 4:46pm Feb 10, 2009 4:46pm
Here is a trade for analysis: Long the EUR/GBP on the dailiy BUOB.

Pros:
- Rejected new swing lows past three days at 0.8650 range, which was also a S/R region from early Dec08.
- Convincing close well encompassing the previous two days of action.
- Long term trend is up
- 50% FIB

Cons:
- Failed to close above 0.89 and would be coming right back into the big PPZ of 0.9000
- Heavy R at 0.9080, giving us a suspect R:R.

To me location wins- as in it's not ideal. We'll be trying to run back up into the range we just broke out of.

No trade for me. Anyone agree/disagree?

Josh
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP 021009_Day.GIF Size: 41 KB
  • #20,948
  • Feb 10, 2009 4:56pm Feb 10, 2009 4:56pm
Quoting raczekfx
Bulls trap, leakage of the plan? "Financial Stability Plan: Deploying our Full Arsenal to Attack the Credit Crisis on All Fronts. Today, our nation faces the most severe financial crisis since the Great Depression. It is a crisis of confidence, of capital, of credit, and of consumer and business demand..."

Language like that adds to volatility and confuses the heck out of investors.
That's why it's best to sit on the sideline or trade PAs near important ppz only and close to your chest.
PA is generous...
Thanks Rac for the chart, I just realized all the PAs when you highlight all those stuff. Still need to work on it.
Quoting Jduester
To me location wins- as in it's not ideal. We'll be trying to run back up into the range we just broke out of.

No trade for me. Anyone agree/disagree?
I had my order on Eur/Gbp as the BUOB bounced not only from daily but weekly. That's what make me put my order. JMHO.

Ps: Does anyone knows how to quote two or more person in one post?
  • #20,949
  • Feb 10, 2009 4:58pm Feb 10, 2009 4:58pm
Quoting bundyraider
Yes a pin bar signals a change in momentum, but one bar is only capturing a moment in time. It's the position on the chart that should give you the reason to trade. Not the bar itself. The bar (once closed) is just the reason to pull the trigger.
I wish I'd said that. Very nice Mr. Bundy.
Indicators show the past. Price Action "Indicates" the future.
  • #20,950
  • Feb 10, 2009 5:02pm Feb 10, 2009 5:02pm
Any comments on this trade? Looks to be in a congestion region now. Might be a good opportunity if it can break out of 1.61 and then retrace from it. Would look much better if the BUOB had closed above 1.61. Or am I way off here.

Josh
Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD 021009_Day.GIF Size: 46 KB
  • #20,951
  • Feb 10, 2009 5:06pm Feb 10, 2009 5:06pm
Quoting arcus

I had my order on Eur/Gbp as the BUOB bounced not only from daily but weekly. That's what make me put my order. JMHO.
I see what you mean on that weekly. Makes it a stronger possibility of moving higher, despite the BEOB from a few weeks ago.

Best of luck on it.

Josh
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP 021009_Week.GIF Size: 36 KB
  • #20,952
  • Feb 10, 2009 5:19pm Feb 10, 2009 5:19pm
Quoting Jduester
Here is a trade for analysis:...
Hey Josh-

This is how it looks like to me. Yes there is some resistance ahead, but from the high of the current daily bar it's 185 pips away. And 185 pips on this pair is like twice that much on the pound or euro. I'd say it has space to move.
Attached Image (click to enlarge)
Click to Enlarge Name: Eur_Gbp_02_09.gif Size: 4 KB
  • #20,953
  • Edited Feb 11, 2009 3:12am Feb 10, 2009 5:51pm | Edited Feb 11, 2009 3:12am
Quoting rustyjeff
Pip, you could have taken yesterdays pin bar long. BUT, it is very congested & look what it has to run into... See those bar highs to the left?
What did it do when it got there..? This is another rejection from that area which has been tested before. making a ppz.

seeing all this reaction there it may be a more probable trade to wait for a nice bearish pa off it or a break higher then a retest as support.
Very nice Jeff.

There it was on the 4 hour chart, a Pin Bar off a Daily/Weekly PPZ level.

Shows the importance if your looking for a PA setup on the 4 Hour and Hourly time frame it must be off the Daily and Weekly PPZs.

A break of the 1.1700 (Round Number) gave good confirmation.
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #20,954
  • Edited 6:31pm Feb 10, 2009 6:02pm | Edited 6:31pm
Quoting arcus
Hi guys,

What do you think about this one? Maybe some of us had already had their order in. Though it's still early to decide, but if it ends as BUOB and close above the PPZ, would make a good trade IMO. So, comment pls.

Pro: Swing low, bounce off daily PPZ.
I'll be watching this too arcus.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #20,955
  • Feb 10, 2009 6:09pm Feb 10, 2009 6:09pm
Quoting arcus
...

Here's another setup on Gbp/Chf. If it could close below the PPZ, would make a good BEOB IMO. Comment pls.
Arcus,
Are you still considering this one? It looks pretty good to me, but I'm still a newbie... Again, it's one of those that although it has some room to run, it also involves a large stop, making it less than 1:1... This assumes that we are targeting the 1.63ish level.

Testing the downward trendline now, but if we break the BEOB, we would be back under it.

Pros are it's at a swing high off of good PPZ (1.75). Convincing outside bar. hmmm...

Josh
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCHF_Day.GIF Size: 46 KB
  • #20,956
  • Feb 10, 2009 6:19pm Feb 10, 2009 6:19pm
Quoting Jduester
Arcus,
Are you still considering this one? It looks pretty good to me, but I'm still a newbie... Again, it's one of those that although it has some room to run, it also involves a large stop, making it less than 1:1... This assumes that we are targeting the 1.63ish level.

Testing the downward trendline now, but if we break the BEOB, we would be back under it.

Pros are it's at a swing high off of good PPZ (1.75). Convincing outside bar. hmmm...

Josh
Yes. I already had my order (but not yet executed). Don't worry I'm newbie myself to the J16 stuff.

The way I see it is it had room to move like 100pips+ or something, so I'll be cautious on this trade by either taking half profit early or changed my stop loss to breakeven. Yup convincing outside bar (atleast to me), swing high and bounce from weekly PPZ.
  • #20,957
  • Feb 10, 2009 6:21pm Feb 10, 2009 6:21pm
Quoting jarroo
I'll be watching this too arcus.
Nice Jarroo. Glad that what I see is what senior member see as well. Atleast I feel like I'm on right track LOL
  • #20,958
  • Feb 10, 2009 7:09pm Feb 10, 2009 7:09pm
Quoting arcus
Nice Jarroo. Glad that what I see is what senior member see as well. Atleast I feel like I'm on right track LOL
Keep doing what your doing (higher time frames, PPZs, etc) and you'll get there my friend.
Indicators show the past. Price Action "Indicates" the future.
  • #20,959
  • Feb 10, 2009 7:21pm Feb 10, 2009 7:21pm
Quote
Arcus,
Are you still considering this one? It looks pretty good to me,
...
I was waiting for someone to comment on g/chf since we hit Tp1 yesterday.
Wonder if anyone caught a PA off that weekly G line...?
SRs are GOLD, especially on the first approach...
I know at least a couple of you here trade at $100/ps. Congrats on your 600 free fall.. :-)

I'd be in a celebration mood, if it wasn't for $9.7 trillion rescue package, our children and their grandchildren have to live with.... Scary, very scary times....Time to move to NZ?
.
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  • #20,960
  • Feb 10, 2009 7:36pm Feb 10, 2009 7:36pm
Quoting Matrixxdg
Hi Jig, I use USD index as well but I get the info from a website. Can you plz tell me what broker your using to get it on the MT4 platform?

Thanks...Mike G
Mike,
Have a look at SIGtrader4. Its got the largest selection of charts I've seen from any MT4 platform.

Steve.
"The more I practice, the luckier I get." (Gary Player)
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