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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

  • #25,021
  • Mar 27, 2009 5:18am Mar 27, 2009 5:18am
this EUR/USD. Daily IB.
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What does not kill me makes me stronger. Friedrich Nietzsche,
  • #25,022
  • Mar 27, 2009 5:24am Mar 27, 2009 5:24am
Quoting markmm
Hi,

I've attached it, Just import it using File>Utilities> Import ninja script. and point it to the zip.

Note: to get the sound to work, you will have to go in and change the path in the code to point to a wav file on your pc. Look for the line PlaySound("C:.........
Hello Markmm,
can you give us the detail installation guideline for those of us using M4t?Thanks
  • #25,023
  • Mar 27, 2009 5:31am Mar 27, 2009 5:31am
Take profit EMA, rest lock 20 pips profit.
Could be this the wave correction,?
will see...
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What does not kill me makes me stronger. Friedrich Nietzsche,
  • #25,024
  • Mar 27, 2009 5:43am Mar 27, 2009 5:43am
Quoting Jlr
You need a platform called ninjatrader. There is a free demo, but they are pokey on sending me the activation code No biggie

Markmm, just curious, how hard would it be to get custom timeframes on there? Say for instance you can set 8hr, 16hr, 48hr etc? I bet its really hard to do, but figured I'd ask, would be really really nice Nonetheless, seems like a really cool indicator, can't wait to try it out Ty
It would be very easy, any timeframe can bee added. If you look at the code though Edit NinjaScript on the tools menu, there is a method called a AddInstruments(). In there all the pairs and timeframes are added. You could copy and paste one of the lines and change the number at the end.
Add("$EURUSD", PeriodType.Minute, 480); would be 8 hour on EURUSD. Once youve made a change hit F5 and then refresh the chart.
Economists have forecast 9 out of the last 5 recessions
  • #25,025
  • Mar 27, 2009 5:45am Mar 27, 2009 5:45am
Quoting ayour2a
Hello Markmm,
can you give us the detail installation guideline for those of us using M4t?Thanks
This is a strategy for Ninja Trader, which is free and you can use Gain demo feed for free.
Economists have forecast 9 out of the last 5 recessions
  • #25,026
  • Mar 27, 2009 5:46am Mar 27, 2009 5:46am
Quoting markmm
It would be very easy, any timeframe can bee added. If you look at the code though Edit NinjaScript on the tools menu, there is a method called a AddInstruments(). In there all the pairs and timeframes are added. You could copy and paste one of the lines and change the number at the end.
Add("$EURUSD", PeriodType.Minute, 480); would be 8 hour on EURUSD. Once youve made a change hit F5 and then refresh the chart.
Great, ty. Hopefully they validate my account soon, dying to check that out. Thanks again for sharing
  • #25,027
  • Mar 27, 2009 6:00am Mar 27, 2009 6:00am
Quoting ayour2a
Hello Markmm,
can you give us the detail installation guideline for those of us using M4t?Thanks
Hi ayour2a,

As markmm mentioned, this is a strategy for ninja trader.

Reading through this thread I did come across an MT4 indicator if you are interested here are the links:

http://www.forexfactory.com/showpost...postcount=3384

http://www.forexfactory.com/showpost...postcount=3400

I have not used or tested these myself though.

Cheers
MM
  • #25,028
  • Mar 27, 2009 6:18am Mar 27, 2009 6:18am
I hope somebody caught these I slept through them (east coast). They weren't at swing high/low exactly but still...I feel like I need a shrink when I miss these.
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"Whether you think you can or can't, you're right." Henry Ford
  • #25,029
  • Mar 27, 2009 6:31am Mar 27, 2009 6:31am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting krue
MPP, this probably gives you better view?
Au also has a wk pin, and Eu is an IB, we know the week has yet to finish.

Au holding still eu/gu run short straight into support zones.

only thing i see here is look for and trade the best of the 3. lets see where it closes
  • #25,030
  • Mar 27, 2009 6:37am Mar 27, 2009 6:37am
This BEOB has about 20 mins or so to finish. Looks at a minor swing high.
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"Whether you think you can or can't, you're right." Henry Ford
  • #25,031
  • Mar 27, 2009 6:42am Mar 27, 2009 6:42am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
I am getting into this trouble now...... all the earned pips envapoerating



Quoting MPP
Au also has a wk pin, and Eu is an IB, we know the week has yet to finish.

Au holding still eu/gu run short straight into support zones.

only thing i see here is look for and trade the best of the 3. lets see where it closes
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Click to Enlarge Name: egbp scary now daily mar.27.09.gif Size: 13 KB
  • #25,032
  • Mar 27, 2009 6:52am Mar 27, 2009 6:52am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting krue
I am getting into this trouble now...... all the earned pips envapoerating
if i understand this, you took the long of the PB just below you buy line? you should look at the reasons for playing it, it seems a little crowded if i understand mike's teaching's correctly.

here's my chart different feed, no PB in that area, but we now have a short PB.

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  • #25,033
  • Mar 27, 2009 7:06am Mar 27, 2009 7:06am
Quoting MPP
if i understand this, you took the long of the PB just below you buy line? you should look at the reasons for playing it, it seems a little crowded if i understand mike's teaching's correctly.

here's my chart different feed, no PB in that area, but we now have a short PB.

Attachment
Hi MPP,

I think krue's trade was still the 2 day Pin Bar from Wednesday if I'm not mistaken.
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  • #25,034
  • Mar 27, 2009 7:28am Mar 27, 2009 7:28am
Quoting markmm
This is a strategy for Ninja Trader, which is free and you can use Gain demo feed for free.
I got my ninja trader up and running, and I acquired the gain demo feed, and got it up and running.. I think. What exactly do I do after that to open this? I opened the strategy you provided, but didn't get the window that you have. Sorry if this question is dumb, I read the FAQ and still couldn't figure it out.
  • #25,035
  • Mar 27, 2009 7:45am Mar 27, 2009 7:45am
Quoting krue
I am getting into this trouble now...... all the earned pips envapoerating
Why did you enter there Krue?
I believe . . .
  • #25,036
  • Mar 27, 2009 7:51am Mar 27, 2009 7:51am
Quoting krue
If I remember correctly, it seems outside bars could be either reversal or continuation play, am I right? I was looking at NZDUSD, in its D2 chart, we have a BUOVB, seems very classical, though a resistance sitting on top of its head, nonetheless, by its D1 chart, it seems a small retracement above a fib confluance, which I think it serves a reasonable support. in this case, will you give up this setup, or have better weight favor on either of the resistance or support, so we can see more clarity and go for it? thank you.
They can be played either ways...

They show bullish dominance which may not only insinuate trend reversal but can also point towards the continuation of a bull run,

Regard,
Ghous.
I believe . . .
  • #25,037
  • Mar 27, 2009 8:01am Mar 27, 2009 8:01am
Scot Pippen, I had to laugh my morning has mimmic yours I woke up and saw I missed some easy pips no big, being on the west coast this happens have to sleep ocasionally hehe anyway poured an Irish coffee got my head back in the game and currently in eur/gbp trade @.9306. I really dont post much but you made me laugh!! Have a graet weekend this trade should ease the pain.
  • #25,038
  • Mar 27, 2009 8:08am Mar 27, 2009 8:08am
Quoting raczekfx
It would've been if it was off 3730 (imoo), but
i think we'd have to wait for (that rally every analyst is looking for on the front page of FF) a bit longer... (I could be wrong...)
.
Trading plan for fiber from yesterday after replying to someone.
1. we've got our pa setup
2. wait for rac's favorite retrace
3. stop above PA or 61 if you're ultra cautious
4. sell
5. tp? if yes, take some or full profit

This is exactly why most of successful traders following j16 method, ignore the news (I meant analysis) written by 'analysts'...

If they were good traders, they wouldn't have to earn a living by writing stories. When they wrong, they twist a story around and come out with a new analysis, correction theory or another b.s.
Once I realized that only 3-5% of folks make it in this business, I questioned myself, why even bother reading. Most of them are wrong anyways.....
Don't get me wrong. Reading news is fun, but use it only for entertainment purposes

We've got our PA and that alone should be sufficient information for us to make this business successful. And if anyone wonders why PA works, there is no secret really. You and I don't move this market. It's the banks and funds buying and selling and when they do that, PA tips us off....

This is exactly why Jim stresses trading on a higher TF until you get good....

If you look at the ship from up close (1 min charts), you don't know where it's heading. When you jump on a plane and look from a distance (daily tf) you know exactly where it's heading or if perhaps it's turning)

With that thought... Have great weekend all. Trade wisely...
.
Attached Images
  • #25,039
  • Mar 27, 2009 8:10am Mar 27, 2009 8:10am
Quoting Jlr
I got my ninja trader up and running, and I acquired the gain demo feed, and got it up and running.. I think. What exactly do I do after that to open this? I opened the strategy you provided, but didn't get the window that you have. Sorry if this question is dumb, I read the FAQ and still couldn't figure it out.
Note: Check the log tab on the main NT window. If it mentions PlaySound then ive attached a new version, and a sound file which must be unzipped to sit in root C: and keep the name (Alert.wav).
Attached File(s)
File Type: zip PAIndicator.zip   3 KB | 1,615 downloads
File Type: zip Alert.zip   255 KB | 1,104 downloads
Economists have forecast 9 out of the last 5 recessions
  • #25,040
  • Mar 27, 2009 8:25am Mar 27, 2009 8:25am
Attached are two 4H GBP/JPY charts.

In the first one we can see how this pair (in the new uptrend) give us nice PA setups each time the broken red trendlines are re-tested.

The second one is a Zoom In and shows a big confluence area in the actual re-test:

1.- Re-test of broken red trendline.
2.- Test of green up trendline.
3.- 50% Fib Ret of the last up movement.
4.- Weekly PPZ.

IŽll be looking for PA in this zone, maybe the 8H Chart give us a nice PB.
Attached Image(s) (click to enlarge)
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