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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

  • #24,401
  • Mar 21, 2009 9:27pm Mar 21, 2009 9:27pm
at this time strong agree. eurusd target 32something, usdjpy 85 something.

Quoting Fx_Genius
I have noticed this pattern before, E$ goes up and $J goes down. Sometimes there is more noise at this time, but this looks like a clean move. Both show opposite reversal in weekly/daily.
Any thoughts?
  • #24,402
  • Mar 21, 2009 10:06pm Mar 21, 2009 10:06pm
Quoting jarroo
They are pretty easy to manage when they act the way they're suppose to. lol

Take the Daily BUOB on the Gbp/Usd. Price breaks hard and may never look back. This action of how Price breaks the trigger should not be ignored when looking to confirm your setup.
Agreed 100%

Problem is I am short of time and trades like these even when on the daily can't be left for 10 flat hours on their own,( mt4 isn't all that great anyways when it comes to managing a trade professionally via stop or trail orders.) They need to be watched more...

This is precisely the reason I've been more picky than I usually like to be and focusing a lot on the location part of my trades

Regards,
Ghous.
I believe . . .
  • #24,403
  • Mar 21, 2009 10:15pm Mar 21, 2009 10:15pm
Quoting bakko85
Hi all,
this was a very busy week for me..University exam

This week i took only 2 trades, and they worked well:
- USDCAD weekly BEOB
- GBPUSD weekly pin bar

BUT i exited too early, and didn't let my profits run. I'm really starting to understand the extreme importance of MM and trading plan...

BTW, on weekly TF i can't see any wonderful setup..The only setup i like is the daily IB on EURUSD..just posted by Ghous
I think it's a quite interesting setup, i'll try it on my demo account.
I particularly loved this setup on the aussie/cad for it's location
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audcad weekly.gif Size: 13 KB
Click to Enlarge Name: audcad daily.gif Size: 12 KB
Click to Enlarge Name: audcad 4h.gif Size: 13 KB
I believe . . .
  • #24,404
  • Edited Mar 22, 2009 1:36am Mar 21, 2009 10:18pm | Edited Mar 22, 2009 1:36am
Quoting BWise
I enjoy your posts and insight your provide with your posts Ghous, keep it up.

With the IB setup on the EUR/USD would you take the break of the IB to the downside or the break of the bar before it?

Im still trying to get a hang of IB. I started off with PB's, then Outside Bars now, I'm trying to get a feel for IB's.

Thanks
Thanks Bwise,

this thread's just a big market place. I bought all this a while ago and now selling it out to you guys, hope you can keep the wheel rolling

Quote
With the IB setup on the EUR/USD would you take the break of the IB to the downside or the break of the bar before it?
I'll go for the break of the IB itself and not the bar before it.

Quote
Im still trying to get a hang of IB. I started off with PB's, then Outside Bars now, I'm trying to get a feel for IB's.
Good for you,

Best of luck Dude

Regards,
Ghous.
I believe . . .
  • #24,405
  • Mar 22, 2009 3:54am Mar 22, 2009 3:54am
Quoting ghous
I particularly loved this setup on the aussie/cad for it's location
Hi Ghous,

My feeds are quite different from yours; especially the pin bar: on my feed it seems more to be an indecision bar rather than a pin bar. It is also quite small if compared with previous bar.

By the way, i like this setup, there is a confluence of some interesting elements.
Will you play it at the break of the bar, i suppose?

Regards,
bakko
  • #24,406
  • Mar 22, 2009 7:57am Mar 22, 2009 7:57am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Fx_Genius
I have noticed this pattern before, E$ goes up and $J goes down. Sometimes there is more noise at this time, but this looks like a clean move. Both show opposite reversal in weekly/daily.
Any thoughts?
It used to be that EU and Uchf were 90% correlated, but lately thats been slipping of, although % wise Uj isn't that well correlated, the chats look very interesting.
here's a chart from Mataf.com on correlation
80% + same direction
80% - oposite
less than 60% no real correlation

it's strange to see your charts and then look at the numbers

Attached Image
  • #24,407
  • Mar 22, 2009 8:04am Mar 22, 2009 8:04am
Quoting AlexWong76
at this time strong agree. eurusd target 32something, usdjpy 85 something.
Charts are 2 day pins. E$ 1.32-1.33 looks good for TP1, $J 99.5 TP1. I'm not sure where you got the 85 from. PB looks much better on $J than E$.

Quoting MPP
it's strange to see your charts and then look at the numbers
It took me awhile to find the periodcon to make the charts look like what I saw. Maybe this will help.
Attached Images
  • #24,408
  • Mar 22, 2009 9:09am Mar 22, 2009 9:09am
Quoting Fx_Genius
Charts are 2 day pins. E$ 1.32-1.33 looks good for TP1, $J 99.5 TP1. I'm not sure where you got the 85 from. PB looks much better on $J than E$.



It took me awhile to find the periodcon to make the charts look like what I saw. Maybe this will help.
How do you guys produce 2 day data together? On my MT4 there are only 1 day data. Pls advise.
  • #24,409
  • Mar 22, 2009 9:28am Mar 22, 2009 9:28am
Quoting Ray_1
How do you guys produce 2 day data together? On my MT4 there are only 1 day data. Pls advise.
Hi Ray,

You will need to use a period converter to do this. See Jarroo's posts on this below:
http://www.forexfactory.com/showpost...ostcount=15191
http://www.forexfactory.com/showpost...ostcount=15193

Cheers
MM
  • #24,410
  • Mar 22, 2009 9:45am Mar 22, 2009 9:45am
Quoting bakko85
Hi Ghous,

My feeds are quite different from yours; especially the pin bar: on my feed it seems more to be an indecision bar rather than a pin bar. It is also quite small if compared with previous bar.

By the way, i like this setup, there is a confluence of some interesting elements.
Will you play it at the break of the bar, i suppose?

Regards,
bakko
Yes I'll be playing it at the break of the pin bar.

Cheers,

Ghous.
I believe . . .
  • #24,411
  • Mar 22, 2009 11:12am Mar 22, 2009 11:12am
Quoting MinceMeat
Hi Ray,

You will need to use a period converter to do this. See Jarroo's posts on this below:
http://www.forexfactory.com/showpost...ostcount=15191
http://www.forexfactory.com/showpost...ostcount=15193

Cheers
MM
I try but it did not work, is there a secret too, where the file have to be attached.
I attached the file at Custom Indicators!

Rainer
  • #24,412
  • Mar 22, 2009 11:16am Mar 22, 2009 11:16am
Quoting mea
I try but it did not work, is there a secret too, where the file have to be attached.
I attached the file at Custom Indicators!

Rainer

Hmmm, I just copy the files to the following directory:
program files > meta trader 4 > experts > indicators
Restart MT4 and it should show in the navigator pane on the left hand side under custom indicators.

Hope that helps.

MM
  • #24,413
  • Mar 22, 2009 11:20am Mar 22, 2009 11:20am
Quoting MinceMeat
Hmmm, I just copy the files to the following directory:
program files > meta trader 4 > experts > indicators
Restart MT4 and it should show in the navigator pane on the left hand side under custom indicators.

Hope that helps.

MM
Yes the installation is there, but it does not confert!
  • #24,414
  • Mar 22, 2009 11:26am Mar 22, 2009 11:26am
Quoting mea
Yes the installation is there, but it does not confert!
Didn't you go to "File" and click "Open Offline" . Pick your time frame and pair you convertered and Click "Open". Then just add your template.
Indicators show the past. Price Action "Indicates" the future.
  • #24,415
  • Mar 22, 2009 11:29am Mar 22, 2009 11:29am
Quoting jarroo
Didn't you go to "File" and click "Open Offline" . Pick your time frame and pair you convertered and Click "Open". Then just add your template.
yes I did follow step by step, no change
  • #24,416
  • Mar 22, 2009 11:29am Mar 22, 2009 11:29am
Quoting mea
Yes the installation is there, but it does not confert!
Mea,

That's strange as I don't seem to have any problems.

After you moved the indicator over to the chart, did you go to:
file > open offline

You should have the following window where you can select the converted periods (for the example I applied the indicator to the USDJPY chart):
Attached Image (click to enlarge)
Click to Enlarge Name: openoffline.jpg Size: 59 KB
  • #24,417
  • Mar 22, 2009 11:30am Mar 22, 2009 11:30am
Quoting mea
yes I did follow step by step, no change
what time frame are you converting to?
Indicators show the past. Price Action "Indicates" the future.
  • #24,418
  • Mar 22, 2009 11:38am Mar 22, 2009 11:38am
Quoting MinceMeat
Mea,

That's strange as I don't seem to have any problems.

After you moved the indicator over to the chart, did you go to:
file > open offline

You should have the following window where you can select the converted periods (for the example I applied the indicator to the USDJPY chart):
Yes I did, same window but now CHANGE in D1 to D2. might have made an error when i installed it.
yesterday I installed the close time period for the bar no problem.
  • #24,419
  • Mar 22, 2009 11:42am Mar 22, 2009 11:42am
Quoting mea
Yes I did, same window but now CHANGE in D1 to D2. might have made an error when i installed it.
yesterday I installed the close time period for the bar no problem.
Sorry Mea, don't know what to suggest.

I see Jarroo is online, perhaps he has come across this before. I'm afraid I can't be of much more assistance
  • #24,420
  • Mar 22, 2009 11:43am Mar 22, 2009 11:43am
Quoting jarroo
what time frame are you converting to?
from D1 to D2
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