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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

  • #30,321
  • May 18, 2009 4:52pm May 18, 2009 4:52pm
nzdjpy_daily: would'nt you consider trading the break above 57.4 area?
Thanks!
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Trading: the skill of avoiding trades
  • #30,322
  • May 18, 2009 4:57pm May 18, 2009 4:57pm
Quoting ljr
If I understand you correctly what you saying is you want the period converter to merge different bars. For example you have 3 bars: 1, 2 & 3, by default it may merge bars 1 & 2 but you want it to merge bars 2 & 3??
Yes!

Quoting ljr
The period converter has a 'shift' parameter which I think achieves this. I'm sure i had the same issue and after playing around with the parameter I got it do merge the correct bars.
Not mine.
I will try to find another version of this converter..

PS: anyone having this release with shift parameter?
Thanks
Trading: the skill of avoiding trades
  • #30,323
  • May 18, 2009 5:02pm May 18, 2009 5:02pm
Too much congestion above plus the weekly BEOVB at the double top will keep me out of the long trade. There might be potential, but I'm staying away and waiting for something better.

Quoting eswap0
nzdjpy_daily: would'nt you consider trading the break above 57.4 area?
Thanks!
  • #30,324
  • May 18, 2009 5:02pm May 18, 2009 5:02pm
Quoting eswap0
Yes!


Not mine.
I will try to find another version of this converter..

PS: anyone having this release with shift parameter?
Thanks
It was posted here a while ago. Click on the 'paperclip' at the top right and filter out images and look a page or 2 down. It was posted around 2 Feb

Its called 'periodcon'
  • #30,325
  • May 18, 2009 5:04pm May 18, 2009 5:04pm
Quoting byorkFX
Too much congestion above plus the weekly BEOVB at the double top will keep me out of the long trade. There might be potential, but I'm staying away and waiting for something better.
Thanks!
Also previous BEOB weekly scares me.
Definitively, I am not taking this one.
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Trading: the skill of avoiding trades
  • #30,326
  • May 18, 2009 5:10pm May 18, 2009 5:10pm
Quoting ljr
It was posted here a while ago. Click on the 'paperclip' at the top right and filter out images and look a page or 2 down. It was posted around 2 Feb

Its called 'periodcon'
Found it!
Thanks!
Trading: the skill of avoiding trades
  • #30,327
  • May 18, 2009 5:12pm May 18, 2009 5:12pm
If you're going to trade multiple day pins (or any PA), I would probably stick to the visual method of combining bars. Even if you find a period converter with a time shift function to merge the bars you want in your chart, you will still need 2 charts to merge the 2 sets of highlighted bars into D2 pin bars since they are not an even number of bars apart. It seems to me that trading 2 day PA requires learning to recognize 2 day patterns that make up the 1 day patterns that this thread teaches. I'm sure that a period converter can be very useful and some people will have a different opinion, so this is just my 2 cents.

Quoting eswap0
Hi!
Your help is needed!
I was checking my daily charts: I realized that a couple of bars could be forming a PB, so i decided to install the period_converter script, to use a 2 days chart.
After doing so, I saw the way the script was putting together my bars was not the way I would like it to do.
Please, find attached a daily chart whith two possible PB if you take the bars together and the 2 days chart I am getting.
My question, should I trade based on what I imagine a PB is or should I stick to the new 2 days chart?
Thanks a lot!
  • #30,328
  • May 18, 2009 5:13pm May 18, 2009 5:13pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
people in this thread discuss turning 1,000 into 139,666 in a week
http://www.forexfactory.com/showthread.php?t=164092
I also provided an account statement of one winner, his acc statement is in public, so, I posted it for study.

whenever talking about turning something into big quick, feel like there must be holy grail not being discovered.

i tried my best not to trust such thing like holy grial. but, mentality always be affected by such achievement.

but, from these two days, i sit back with small things, forget about the big number, be minded of risk, and the enemy, myself.


Quoting markmm
He turned $5000 into $140,000 in 2 years not bad!
  • #30,329
  • May 18, 2009 5:34pm May 18, 2009 5:34pm
Quoting byorkFX
If you're going to trade multiple day pins (or any PA), I would probably stick to the visual method of combining bars....
I agree, once you know what to look for and are looking at swing high/lows these start to pop out, I've attatched a chart of one. You can train your eyes to the best setups.

Hope it helps

Mark
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Economists have forecast 9 out of the last 5 recessions
  • #30,330
  • May 18, 2009 5:47pm May 18, 2009 5:47pm
Quoting Jduester
Nothing looking worthy for me tonight. Hopefully these FF problems are fixed... Night all.

Still in AUD/USD (0.7710 stop) and USD/CHF long (B/E and 1% minimum gain)

Agree that 97 will be place to watch USD/JPY...

So was that it for our big pullback in stocks? Now to the moon? I think not.

Josh

Yeah, im flat. Im sure we are due a gorgeous pin bar that breaks hard soon.

Mark
Economists have forecast 9 out of the last 5 recessions
  • #30,331
  • May 18, 2009 5:59pm May 18, 2009 5:59pm
Sorry to hear a few of you got screwed on that Aussie beob. I had other obligations so there was no way I could watch that one and haven't taken a trade for a number of days.

Hang in there people. I've been at this for a year now and it has not been easy. With hard work and determination we'll all get there. By being ultra picky I've more than doubled my account since the end of March. Then I was stupid and gave a bit of it back by letting my guard down and getting too confident.

God bless this great thread.
"Don't trade to trade . . . trade to win." - James16
  • #30,332
  • May 18, 2009 6:01pm May 18, 2009 6:01pm
Back into trading after a couple of months off.....certainly won't be jumping in today. Some signs of continuation on some of the Yen crosses on the lower timeframes....BUOB's galore but after my break it is better to ease in gently
  • #30,333
  • May 18, 2009 6:29pm May 18, 2009 6:29pm
Quoting Jduester
So was that it for our big pullback in stocks? Now to the moon? I think not.

Josh
Bear (sic!) in mind that ride was on the very low volume - one of the signs of a possible bear market rally.
But to be honest, on the other side one has tons of stocks with a very tempting P/E ratio which just scream "buy me"
So no suprise big money is coming back form the sidelines and so far drops are just another chance to buy from a better level.
But I can be entirely wrong. A clinical signs would be if the weekly BEOB on most of the yen crosses become invalid.
The question in post's title can only be answered in a retrospective way I'm afraid.
  • #30,334
  • May 18, 2009 6:37pm May 18, 2009 6:37pm
Quoting tehuringa
Back into trading after a couple of months off.....certainly won't be jumping in today. Some signs of continuation on some of the Yen crosses on the lower timeframes....BUOB's galore but after my break it is better to ease in gently
Welcome back!
  • #30,335
  • May 18, 2009 6:41pm May 18, 2009 6:41pm
Quoting tehuringa
Back into trading after a couple of months off.....certainly won't be jumping in today. Some signs of continuation on some of the Yen crosses on the lower timeframes....BUOB's galore but after my break it is better to ease in gently
Glad to see you back!
  • #30,336
  • May 18, 2009 7:29pm May 18, 2009 7:29pm
*sniff* ...... thanks folks
  • #30,337
  • May 18, 2009 7:30pm May 18, 2009 7:30pm
Break on the Daily BUOB on the Usd/Jpy. Tight stop about 25 pips. Let's see if see runs to 97.00.
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Indicators show the past. Price Action "Indicates" the future.
  • #30,338
  • May 18, 2009 7:33pm May 18, 2009 7:33pm
Quoting jarroo
Break on the Daily BUOB on the Usd/Jpy. Tight stop about 25 pips. Let's see if see runs to 97.00.
Nice one Jim ...... I see the 150EMA is ghosting that 97.00 level and it is also the fulcrum of the recent range on the pair.
  • #30,339
  • May 18, 2009 7:35pm May 18, 2009 7:35pm
Quoting markmm
Yeah, im flat. Im sure we are due a gorgeous pin bar that breaks hard soon.

Mark
I personally would like to see this one go to .8000 and make a nice pinbar. Of course, after it drops into profit for you guys so that you can get out of the trade!
"Luck favors the prepared mind"
  • #30,340
  • May 18, 2009 7:36pm May 18, 2009 7:36pm
Quoting tehuringa
Nice one Jim ...... I see the 150EMA is ghosting that 97.00 level and it is also the fulcrum of the recent range on the pair.
Thanks tehuringa. That would be a first time back to the 150ema as well.
Indicators show the past. Price Action "Indicates" the future.
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