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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

  • #22,441
  • Feb 25, 2009 8:17am Feb 25, 2009 8:17am
EJ has a pin bar on 4H
it is with the trend of the last days, going north and was supported on 61.8% daily fib.
It has a resistance 150 pips away.

I'm in with sl under the right eye (70p).

comments ? anyone?

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 25 KB
  • #22,442
  • Feb 25, 2009 8:22am Feb 25, 2009 8:22am
Hi Ady, I was looking at that too but that big 125.00 area right up above kept me from placing an order.

Hope it works out for you!
  • #22,443
  • Feb 25, 2009 8:23am Feb 25, 2009 8:23am
Quoting ady27
EJ has a pin bar on 4H
it is with the trend of the last days, going north and was supported on 61.8% daily fib.
It has a resistance 150 pips away.

I'm in with sl under the right eye (70p).

comments ? anyone?

Thanks
I would be looking to short this rather than go long. smaller SL = more risky. You are trading back up into the 125. level too.

I would be more inclined to agree with your BEOB post you made a while back rather than the going long from here.

Just me though, could still work out awesome for you, and I hope it does
  • #22,444
  • Feb 25, 2009 8:29am Feb 25, 2009 8:29am
Quoting ady27
EJ has a pin bar on 4H
it is with the trend of the last days, going north and was supported on 61.8% daily fib.
It has a resistance 150 pips away.

I'm in with sl under the right eye (70p).

comments ? anyone?

Thanks
Not sure how you played it exactly, but I got in at 134 and took some off at the 61.8 retrace from the previous high. 134 was a pretty decent PPZ on a longer term chart, so I think its a good place to catch a move, and be well protected. Going to use those pips against my break even stop loss to try to keep myself in for a big move, if it does happen to go a few pips below the PPZ. No plan personally to chase it with a big s/l. Thats just how I am trying to play it, right or wrong. (you can see the respect 134 is getting)
  • #22,445
  • Feb 25, 2009 8:33am Feb 25, 2009 8:33am
Quoting Jigsaw
I am just a beginner myself bro.

Yeah I saw it, I . . well i WAS hoping it would hold as resistance) Price might come up and take me out at BE. I have not taken any profit yet. The bears could do me a favour and close this next hourly below .4400

My overall thoughts before I entered the trade was that the area I which price was in now is a stronger area than where price is going to. You could have TP there if you like it's all up to what works for you I guess, I used to hate hearing anyone say that but really it is.

As for the other 4HR close...
thx Jig for your explanation i got it now.
  • #22,446
  • Feb 25, 2009 8:34am Feb 25, 2009 8:34am
I just had first two proftiable trades using a trade management EA. Really nice instead of fumbling trying to take partial profit and move stops. I think it will help me to trade my plan much better instead of getting greedy and losing.
"Whether you think you can or can't, you're right." Henry Ford
  • #22,447
  • Feb 25, 2009 8:48am Feb 25, 2009 8:48am
Quoting Jigsaw
Agreed



Missed that one . . . Boooo !



Sup scot,

I am on the run here so I did by best at a quick doodle .

Somebody better than me like Mbqb11 will probably explain better than I can.

I think this is right anyway heh .

EDIT - As for cable I think it gets a little bit messy around the .43 level
Nice buddy

I took half off just below 1440 and the rest at 1430. It was planned to be a short term trade only, so I am flat at the moment, where do you plan to collect your next pot of gold Jig?

Regards,
Ghous.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 4h.gif Size: 12 KB
I believe . . .
  • #22,448
  • Feb 25, 2009 8:53am Feb 25, 2009 8:53am
Quoting Scot Pippin'
I just had first two proftiable trades using a trade management EA. Really nice instead of fumbling trying to take partial profit and move stops. I think it will help me to trade my plan much better instead of getting greedy and losing.
Should'nt practice be a better solution to the fumbling problem than some EA with preset parameters for each of the unique trade setups??
I believe . . .
  • #22,449
  • Feb 25, 2009 8:59am Feb 25, 2009 8:59am
Bonjour Lapin,

Bienvenue à bord

Happy trading all,

Cheers

Angel


* I know the turtles trading story, may be another one with rabbits this time
  • #22,450
  • Feb 25, 2009 9:00am Feb 25, 2009 9:00am
Hey guys, what broker do you use for your charts if you don't mind me asking. I didn't have a PB on EJ. I'm using ODL
  • #22,451
  • Feb 25, 2009 9:04am Feb 25, 2009 9:04am
eur$ BEOB just formed in H1, alpariUS & FXPro feeds.
  • #22,452
  • Feb 25, 2009 9:08am Feb 25, 2009 9:08am
Hi,
Can anyone help please? Is it possible to edit this indicator "VM_Price_Action" having sound alert?
I download this indicator from this thread... and i think it is very useful....
Attached File(s)
File Type: ex4 VM_Price_Action_1.2.ex4   24 KB | 760 downloads
  • #22,453
  • Feb 25, 2009 9:11am Feb 25, 2009 9:11am
Altitudes444,
i don't have an ej chart, but u might wanna check out AlpariUS/Metaquotes/XTB/WHC (all similar times) or FXPro/SIG/WSD/ForexGen, others. different brokers have different times, hence different candle/bar patterns form within charts.
  • #22,454
  • Feb 25, 2009 9:14am Feb 25, 2009 9:14am
carforum,
that's an .ex4 --- only the programmer of that indicator can edit its settings, i believe. if the indicator ends in .mq4, then u can tinker with its code/program.
So, alternatively, u can try & search for that indicator in .mq4 form.
  • #22,455
  • Feb 25, 2009 9:20am Feb 25, 2009 9:20am
Quote
Should'nt practice be a better solution to the fumbling problem than some EA with preset parameters for each of the unique trade setups??


Excellent ghous, i AGREE. Being in control & being accountable & disciplined is much much better. This applies to trading & to our daily lives as well.
  • #22,456
  • Feb 25, 2009 9:21am Feb 25, 2009 9:21am
Thanks for the responses. I was just wondering if those who use the James16 method generally use the same feeds for the candles.
  • #22,457
  • Feb 25, 2009 9:22am Feb 25, 2009 9:22am
Quoting Swampy
Hi Ady, I was looking at that too but that big 125.00 area right up above kept me from placing an order.
Quoting Jigsaw
I would be looking to short this rather than go long. smaller SL = more risky. You are trading back up into the 125. level too...
Thanks guys. you saw the right way.
Fortunately, the J16 way, I placed a buy stop that was not triggered 10p above.
Like a hunter, waiting patiently for the next setup.

Have fun
  • #22,458
  • Feb 25, 2009 9:25am Feb 25, 2009 9:25am
Quoting ghous
Should'nt practice be a better solution to the fumbling problem than some EA with preset parameters for each of the unique trade setups??
I set it for each trade individually based on S/R. So I don't miss my targets and BE stop moves. I am demoing it but so far I like it.
"Whether you think you can or can't, you're right." Henry Ford
  • #22,459
  • Feb 25, 2009 9:25am Feb 25, 2009 9:25am
Man, us west coasters in the US mis all the action... and all the action seems to happen in london.... I guess this is why I try and trade dailies and 4hrs
Dr. C
  • #22,460
  • Feb 25, 2009 9:32am Feb 25, 2009 9:32am
Altitudes444,
looking at ady27's post, it appears to be a Metaquotes MT4.

www.metaquotes.net ---look here if u haven't done yet.




cvcamper,
people from the "west side" can wake up earlier so as not to miss the action, unless u have a job or u are busy..
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