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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

  • #22,781
  • Mar 2, 2009 8:34am Mar 2, 2009 8:34am
I agree I only wanted to tell him that a private forum exists
  • #22,782
  • Mar 2, 2009 8:41am Mar 2, 2009 8:41am
Thanks for the insight Dabuschi and Ghous. I agree this didn't look like a great setup so I decided it wasn't worth to trade it. I see the GBP/USD has broken the 1.41 area overnight so Dabuschi's scenario for a break below the range is in play. Hope you are making some pips with it.


Quoting ghous
Hi Rubin,

Dabuschi is absolutely right. At a swing low with divergence this one would have been a mighty setup...

Close = Open is just fine for a pin bar, it is'nt for an outside bar or an inside bar but for a pin bar the open and close being at the same price shouldn't destroy the setup...

An indecision bar (which can be mistaken to be a pin bar) is where the two "wicks" on each end are exactly or close to being of the same length, and when you see that you don't even need confirmation of the open and close being at the same price level....
  • #22,783
  • Mar 2, 2009 8:44am Mar 2, 2009 8:44am
Hello bakko85, raczekfx, I really appreciate your quick response to my question. Thanks for being there. I'm grateful. One thing I know for sure is that I can easily grab any subject or issue especially on this forex business no matter how complex it may look. Please, you may post any information that may be of help to me anytime. Meanwhile, as you have recommended, I will go to the beginning of this thread and read through. Again, thanks for your wonderful effort especially on this James16 Chart. God, the author of all knowledge and wisdom.
  • #22,784
  • Mar 2, 2009 9:42am Mar 2, 2009 9:42am

Had 3 trades on the 30min charts. I am taking half profit at first resistance then BE

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"Whether you think you can or can't, you're right." Henry Ford
  • #22,785
  • Mar 2, 2009 9:49am Mar 2, 2009 9:49am
Quoting daresfile
I will go to the beginning of this thread and read through.
Daresfile, you can use the find members tab on the left and go straight to all the posts by James16, Mbqb11, etc. in order to speed up the learning curve. I do that alot and find it beneficial to reread several times those who I want to emulate.
"Whether you think you can or can't, you're right." Henry Ford
  • #22,786
  • Mar 2, 2009 9:55am Mar 2, 2009 9:55am
We had the discussion of th BUOB on the UCAD wkly and agreed it could not be traded without a retrace and PA on the lower TF. We got the BUOB on the 4hr while I was sleeping. Would the 4hr BUOB have been a good trade? To me it looked good as it was right on the PPZ and has some room to run. What are others' thoughts?
  • #22,787
  • Mar 2, 2009 10:42am Mar 2, 2009 10:42am
Quoting johnnyonspot
We had the discussion of th BUOB on the UCAD wkly and agreed it could not be traded without a retrace and PA on the lower TF. We got the BUOB on the 4hr while I was sleeping. Would the 4hr BUOB have been a good trade? To me it looked good as it was right on the PPZ and has some room to run. What are others' thoughts?
Could you post a chart so we can see what you're seeing? 4hours could and are different.
  • #22,788
  • Mar 2, 2009 10:52am Mar 2, 2009 10:52am
Here it is:
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.4hr.030209.gif Size: 39 KB
  • #22,789
  • Mar 2, 2009 11:01am Mar 2, 2009 11:01am
gbp/swiss 180 pips profit @ B/E....free trade ridin....we continue
  • #22,790
  • Mar 2, 2009 11:02am Mar 2, 2009 11:02am
Quoting johnnyonspot
Here it is:
From my limited experience, I would say this is a stronger signal than blindly taking the weekly BUOB breakout. This 4 hour filled the gap, retested the PPZ and broke out higher... now watch out for 1.30 and trade your plan...
  • #22,791
  • Mar 2, 2009 11:15am Mar 2, 2009 11:15am
Would that be a valid pinbar?
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  • #22,792
  • Mar 2, 2009 11:18am Mar 2, 2009 11:18am
Quoting Jduester
From my limited experience, I would say this is a stronger signal than blindly taking the weekly BUOB breakout. This 4 hour filled the gap, retested the PPZ and broke out higher... now watch out for 1.30 and trade your plan...
I was asleep at the switch on this one, literally. I really, really, really need my beauty sleep. Really! Ergo, I missed it but would have taken it had I been awake. Oh well.

Where in WI you live, JD? I am from Minnesota, though residing in Calgary, Alberta, in the nation of sound banking practices.
  • #22,793
  • Mar 2, 2009 11:57am Mar 2, 2009 11:57am
I traded this pair.
I took 1/2 profits whe PA touched EMA6 and that bar highs.
rest BE.
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What does not kill me makes me stronger. Friedrich Nietzsche,
  • #22,794
  • Mar 2, 2009 12:02pm Mar 2, 2009 12:02pm
Quoting artov
Would that be a valid pinbar?
Yes, IMO it would be a great PB with space. I just analyzed based on your chart only (in school,so no meta4). But, like mentioned by Jarroo, if you trading lower TF, use higher TF PPZ for confluence with the PB. If the PB is off from daily or H4 that would be great.

If I'm wrong. Please correct me
  • #22,795
  • Mar 2, 2009 12:17pm Mar 2, 2009 12:17pm
Quoting artov
Would that be a valid pinbar?
Thatīs a great pinbar. Price bounced off the highs from Feb 16th and has some room to go. I would take half off @ 0.8950
  • #22,796
  • Mar 2, 2009 12:27pm Mar 2, 2009 12:27pm
Did someone notice the 2 pin bar forming on the TF 4h on EURGBP and on GBPCHF?
I prefer that on EURGBP since i can see a minor PPZ at 0,90 and a Fib confluence. There is also a divergence on MACD.
Any opinion?

PS: i know that the bar isn't closed yet so we've to wait..
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  • #22,797
  • Mar 2, 2009 12:31pm Mar 2, 2009 12:31pm
$cad is in a range. if $ continues its bullish momentum, then i think we can have a 1.30 breakout. but, technically &/or fundamentally, $ is also weak so $cad's downside is also looming.



raczekfx,
excellent charts, i appreaciate them a lot.
Nice analogy too, between school & J16. but where's high school? we can skip some levels or advance/get accelerated, can't we?

Quote
This thread is like kindergarten and elementary school, and private forum is more like university.
You don't go straight to university after you just started walking...




Quote
Check the profile
Excellent, u are way younger than i am, ghous! I now can't claim to be 1 of the youngest in this forum. it is really commendable & enviable that u have ventured into & learned about business/FX trading at that age, not to mention u are learning a lot real fast AND trading well too.

what more can i say..... TREMENDOUS Potential! keep it up!
  • #22,798
  • Mar 2, 2009 12:39pm Mar 2, 2009 12:39pm
Quote
One thing I have noticed in J16, is the number of people from all over the globe and the difference in the charts. A pb might show on some charts but not on others. The chart below might better explain to the how and why of this.

This chart is a daily chart using 2 days of 1 minute data from 1/13/2009 time shifted by 1 hour increments to represent what users would see on close of daily by their time zone around the world and the difference in shape....



Fx Genius,
nice take on PBs. it sheds a different light so to speak.

talking about mq4 & ex4, should mq4's always be accompanied with ex4's? is an mq4 indicator "impaired" if an accompanying ex4 is not available/downloaded as well? or alternatively, what's the difference, if any, when mq4 is downloaded with an ex4 compared to downloading mq4 or ex4 alone? just want it clarified, Thanks
  • #22,799
  • Mar 2, 2009 12:51pm Mar 2, 2009 12:51pm
Quoting johnnyonspot
I was asleep at the switch on this one, literally. I really, really, really need my beauty sleep. Really! Ergo, I missed it but would have taken it had I been awake. Oh well.

Where in WI you live, JD? I am from Minnesota, though residing in Calgary, Alberta, in the nation of sound banking practices.
Johnny,
I'm from SE Wisconsin, south of Madison. Living in La Crosse now, just across the MI River from you Vikings.

Rac,
Trying to catch a knife perhaps? Guessing you are using 6800 support with a tight stop below it? Didn't see much for PA otherwise, but I know that's not always how you 'roll'. Good luck on the trade.

Josh

Edit: Maybe more of a saw... just keeps taking out the lows, a little bit at a time.
  • #22,800
  • Mar 2, 2009 12:52pm Mar 2, 2009 12:52pm
Quoting supremeChaos
Fx Genius,
nice take on PBs. it sheds a different light so to speak.

talking about mq4 & ex4, should mq4's always be accompanied with ex4's? is an mq4 indicator "impaired" if an accompanying ex4 is not available/downloaded as well? or alternatively, what's the difference, if any, when mq4 is downloaded with an ex4 compared to downloading mq4 or ex4 alone? just want it clarified, Thanks
Thanks for the feed back, thought it would help some.

mq4 is the program (code) file that becomes ex4 when compiled, which is required for it to work.

The reason a ex4 might be posted would be that the program author wants to keep the code his but will share the resulting indicator/clock/whatever.
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