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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

  • #27,161
  • Apr 16, 2009 6:59am Apr 16, 2009 6:59am
Expound about the current market structure please.[/quote]


Well if you look at the current conditions..every time the market sell off it false less and less. Meaning every time the market picks up sell limit you are finding less and less orders being stacked. Also since the market is revisiting the same area at such fast fast pace its not giving time for orders to be build around a level. The first sell off was the biggest since the market had time to develop this orders. By having smaller amounts of sellers you are creating higher lows and bringing support very close to price creating the last waves close to the current price and making it a quick bargain for smaller timeframe traders creating demand. This is a bitt of what I am looking at hope it was clear

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  • #27,162
  • Apr 16, 2009 7:34am Apr 16, 2009 7:34am
That 4hr candle on chf/jpy best 4hr of the week so far lots of confluence super location I didnt think twice
  • #27,163
  • Apr 16, 2009 7:45am Apr 16, 2009 7:45am
Quoting Shermenator
Expound about the current market structure please.


Well if you look at the current conditions..every time the market sell off it false less and less. Meaning every time the market picks up sell limit you are finding less and less orders being stacked. Also since the market is revisiting the same area at such fast fast pace its not giving time for orders to be build around a level. The first sell off was the biggest since the market had time to develop this orders. By having smaller amounts of sellers you are creating higher lows and bringing...
Interesting analysis Sherm.

The 4hour bar looks exactly like what I would be looking for. But the daily is looking like a congestion zone.
I have no experience trading intraday on FX using price action. I would expect that the daily chart would have some bearing on rating a trade setup on a smaller timeframe. And with that, I would not take this trade for the strict reason that it isn't at a swing high/low on the daily.

What I'm getting at is this:
In a few months, when I start looking into the 12, 8, and 4 hour charts, I will be looking to use intraday PA to get a jump on a daily chart formation. Therefore, I will only be looking to trade intraday when price is at a PPZ on the daily/weekly. (In this case, 1.15 is clearly a strong Daily/Weekly PPZ, but it's not at a swing high/low on daily). It IS a swing high on the 4 hour.

Don't let my thoughts sway you one way or another. I'm just a newbie talking about intraday, trying to get some perspective...It could run to 1.1420 without much problem...

Josh
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  • #27,164
  • Apr 16, 2009 7:47am Apr 16, 2009 7:47am
Hello guys, I been reading j16 thread for many months now and I been demoing it for around of 5 months, thanks to the great folks here I has learned a lot. Now it's time to step foward and join the private forum. I know this thread has tons of inf. but I like to fine tune what I had learned here.

My goal is learn as much as possible an then share it here in the public thread helping people to success.

See you there guys...
  • #27,165
  • Apr 16, 2009 8:21am Apr 16, 2009 8:21am
Quoting Schneeule
Hi,
this one was a a+ pin I cought few hours ago.
I am looking for 1.475 if it gets there.

This thread is gold.
off the big 1.5 number beautiful
  • #27,166
  • Apr 16, 2009 8:23am Apr 16, 2009 8:23am
eur/jpy
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  • #27,167
  • Apr 16, 2009 8:24am Apr 16, 2009 8:24am
Quoting trujillo1980

See you there guys...
we will see ya there
  • #27,168
  • Apr 16, 2009 8:32am Apr 16, 2009 8:32am
I didn't hear any talk about the eur/gbp 4hr pinbar, I took it anyways and closed it for 36 pips. It looked good to me.

I hear you huys talking about the 4hr usd/chf, just for your information it looks to become an 8hr pinbar too. Doesn't look like there's much room for it to run.

See screenshots.
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  • #27,169
  • Apr 16, 2009 8:32am Apr 16, 2009 8:32am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting mbqb11
eur/jpy
different feed different view, not even tradable on mine, plus it looks like the daily is putting in a BEOB on yesterdays Bullish PB.

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i wonder if historically it's possible to prove that a feed with an opening time at +/- of the daily produces better PA trades - taking into account london/NY open and there i'm out for lunch periods that create quiet zones - blah blah blah - enough ramblings
  • #27,170
  • Apr 16, 2009 8:38am Apr 16, 2009 8:38am
Quoting MPP
different feed different view, not even tradable on mine, plus it looks like the daily is putting in a BEOB on yesterdays Bullish PB.

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i wonder if historically it's possible to prove that a feed with an opening time at +/- of the daily produces better PA trades - taking into account london/NY open and there i'm out for lunch periods that create quiet zones - blah blah blah - enough ramblings
Looks closer to putting in a BUOB then a BEOB but at this point that means nothing to me(if your feed closed as is that would not be a beob). I trade my plan the rest is up to the market. My post isn't meant as a signal. Just to show a BEOB swing low off a major Support/PPZ and then where it will run into trouble most likely.

It is all about locations for me. If the PA isn't there on my feed then so be it I pass. You could watch feeds that close at different times if you really want to see multiple aggregations in price. But I think for most that would just cause more trading and confusion. It's ok to wait till things line up on whichever broker you use. If the location and thought process is there the trade will take care of itself.

Take care
Mike
  • #27,171
  • Apr 16, 2009 8:45am Apr 16, 2009 8:45am
Quoting raczekfx
. other 50 I have opposite limit order waiting (hedging positions, especially in a ranging market).
Raczek, have a look at this news on hedging:

http://www.theessentialsoftrading.co...forex-traders/
One Chart is Worth Ten Thousand Words.
  • #27,172
  • Apr 16, 2009 8:50am Apr 16, 2009 8:50am
Quoting Forex007
Raczek, have a look at this news on hedging:

http://www.theessentialsoftrading.co...forex-traders/
Yep, I just got a notice from IBFX about this last night. Not that I ever did any hedging but I was thinking about it. Not anymore...LOL
Ghost Rider - WWTBMD?
  • #27,173
  • Apr 16, 2009 8:53am Apr 16, 2009 8:53am
Quoting albchr
Yep, I just got a notice from IBFX about this last night. Not that I ever did any hedging but I was thinking about it. Not anymore...LOL
Yeah, I received the email as well. This is not looking good though I rarely use hedging, but I do need it sometime. Did any broker got any notice about it?
  • #27,174
  • Apr 16, 2009 8:55am Apr 16, 2009 8:55am
Quoting arcus
Yeah, I received the email as well. This is not looking good though I rarely use hedging, but I do need it sometime. Did any broker got any notice about it?

i don't want to start the debate but on regards to hedging PLEASE read merlins posts ONLY in this thread

http://www.forexfactory.com/showthre...ighlight=hedge

most brokers allow sub accounts if you need to be short and long a currency for a specific reason
  • #27,175
  • Apr 16, 2009 9:02am Apr 16, 2009 9:02am
Quoting mbqb11
i don't want to start the debate but on regards to hedging PLEASE read merlins posts ONLY in this thread

http://www.forexfactory.com/showthre...ighlight=hedge

most brokers allow sub accounts if you need to be short and long a currency for a specific reason

Pretty much my thinking as well Mike (what Merlin says). The only thing I could think of for doing it would be if you had a position going against you, place a double size the other way in hopes of getting out flat when they equaled each other...LOL

Sounds like suicide to me either way. I prefer to just take the hit and look for another trade.
Ghost Rider - WWTBMD?
  • #27,176
  • Apr 16, 2009 9:06am Apr 16, 2009 9:06am
Quoting albchr
Pretty much my thinking as well Mike (what Merlin says). The only thing I could think of for doing it would be if you had a position going against you, place a double size the other way in hopes of getting out flat when they equaled each other...LOL

Sounds like suicide to me either way. I prefer to just take the hit and look for another trade.
yep that would be account suicide lol

Sorry to de-rail the thread more but since there were those posts I felt my duty to stick that in

If anyone has questions about things like that just shoot me a PM

Mike
  • #27,177
  • Apr 16, 2009 9:43am Apr 16, 2009 9:43am
Quoting mbqb11
yep that would be account suicide lol

Sorry to de-rail the thread more but since there were those posts I felt my duty to stick that in

If anyone has questions about things like that just shoot me a PM

Mike

yup sorry i know this is off track but i have used this facility many times while playing different timeframes on IG. I was never interested in the hedge but the facility allows you to play multiple timeframes in different directions.
eg I have a weekly trade long off a buob which could be my main position, but then on the hourly i see the sweetest pin to short for a few pips. This hedging facility essentially allows you to take the short without damaging your longer term position.
  • #27,178
  • Apr 16, 2009 9:48am Apr 16, 2009 9:48am
Quoting simoncs
yup sorry i know this is off track but i have used this facility many times while playing different timeframes on IG. I was never interested in the hedge but the facility allows you to play multiple timeframes in different directions.
eg I have a weekly trade long off a buob which could be my main position, but then on the hourly i see the sweetest pin to short for a few pips. This hedging facility essentially allows you to take the short without damaging your longer term position.

yes but this is why most brokers allow sub account and is what I use my sub accounts for, for THESE times. But the hedge by itself is an account killer for all the other reasons. You should find out if sub accounts are available with your broker. Mine are very easy to switch b/w. Just clicking a button on my interface and it is a split second b/w them

Mike
  • #27,179
  • Apr 16, 2009 9:52am Apr 16, 2009 9:52am
Quoting mbqb11
yes but this is why most brokers allow sub account and is what I use my sub accounts for, for THESE times. But the hedge by itself is an account killer for all the other reasons. You should find out if sub accounts are available with your broker. Mine are very easy to switch b/w. Just clicking a button on my interface and it is a split second b/w them

Mike
Mark likes his hedging...

He has that special magic wand that turns everything to gold.
I believe . . .
  • #27,180
  • Apr 16, 2009 9:55am Apr 16, 2009 9:55am
i don't want to derail our great PA thread anymore

Going to hop on skype if anyone has questions regarding this or wants to discuss

Back to the charts we go !

Mike
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