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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

  • #33,101
  • Jun 10, 2009 5:40pm Jun 10, 2009 5:40pm
Quoting mbqb11
Hey Primi

Welcome to the thread, many many many of us wish we found James as early as you. Happy for you that you did.

EMAs may vary broker to broker. Some brokers do not have the sunday bar which will shift the EMA. It is not Magic in and of itself, but simply another "tool" to be aware of of possible areas that have other confluence or reasons price may "react" around.

Hope to see you asking many questions

Mike
To complement Mike, I even have two different FxPro MT4 demos and they are way different because of the servers that the data comes from (that's the only difference I can find...)
Makes me a bit skeptical about using MAs to provide confluence, but hey, it's tough to argue with the results if you plot them on all your charts and simply watch what happens as price approaches/hits them!
Josh
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  • #33,102
  • Jun 10, 2009 6:55pm Jun 10, 2009 6:55pm
This guy looks promising, but the spread is sad story
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  • #33,103
  • Jun 10, 2009 7:34pm Jun 10, 2009 7:34pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
Hi, Rac, your 50/61 fib play looks indeed powerful, if I didn't mis-read your methodology, I would say its simplicity is beautiful. I am attaching a chart, which seems to me there could be an opportunity to identify such a setup, I think I need a PA to serve as trigger at tf either of 30mins, h1 or h4....... probably you also look into 15mins? in this chart, I am not sure if the trendline I draw makes any sense to you, do you think this is the one you might be looking at? probably this one has too many traffic to play out? I wish I am following your instruction correctly. thank you in advance for help.



Quoting raczekfx
50/61 fibs is a powerful thing, especially when combined with ppz and some other confluence, but people tend to complicate their lives with totally unnecessary stuff...
This is the reason why so many mbas, doctors, dentists and rocket scientists fail in this business (they always will).
Out of my many trading friends, the most successful group is .... farmers.
They know exactly how simple life can be.

back to cave.
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  • #33,104
  • Jun 10, 2009 9:18pm Jun 10, 2009 9:18pm
Quoting KissFan
On the chart posted below there is a well formed 4hr pin. My question is when looking at taking this as a trade, should I take into account the bar lows to the left indicated by the white circle?

Thanks.

K.I.S.S.
I'm in on this one KF. Looks like Price found a hole in the seam, momentum will do that. Drawdown after the break about 12 pips. Sweet.
Indicators show the past. Price Action "Indicates" the future.
  • #33,105
  • Jun 10, 2009 9:23pm Jun 10, 2009 9:23pm
Anyone else got a large pin on GU H8 and H4 with trend ?

Can't post chart right now ..
  • #33,106
  • Jun 10, 2009 9:59pm Jun 10, 2009 9:59pm
Quoting KissFan
Shucks! That's about right HP. The only way I get on anyone's buddy list is if they are brand new!

Just havin' a little fun Primi. Welcome to James16 chart thread. Please let me know if I can help you anytime.

Best -

K.I.S.S.
Shoot, I am my only friend! You did know you can be your own buddy right?
  • #33,107
  • Edited 10:12pm Jun 10, 2009 10:09pm | Edited 10:12pm
I was just in the shower and I remembered hearing that once you're in a winning position you should add to it rather then take away from it (something along those lines anyway). This got me thinking about say we entre an A+ trade with 2% risk. We have two ppz zones drawn and intend to move stop to BE at the first zone and take profit at the second. Since the market has proven the position to be corect and you're up at break even, would it be valid to add to the position and set the stop loss at the same place as the other positions stop loss? That may have come out more complex then it actually is but i'll try inistrate on a chart.

It seems fairly logical to me. Can either move stop of the second entry to BE or do a trailing stop and let the position ride etc.

Does anyone do this? Seems like a way to push extra pips out of your A++ set up
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  • #33,108
  • Jun 10, 2009 10:12pm Jun 10, 2009 10:12pm
Quoting pipmyride
Anyone else got a large pin on GU H8 and H4 with trend ?

Can't post chart right now ..
Are you talking about the green 8 hour PB or the blue 8 hour PB, pmr? The green one's location is very poor. I missed the blue 8 hour PB (darn it.)

I took the green 4 hour PB which is also in a poor location, but I am managing it very tight.
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Indicators show the past. Price Action "Indicates" the future.
  • #33,109
  • Jun 10, 2009 10:16pm Jun 10, 2009 10:16pm
Quoting jarroo
I'm in on this one KF. Looks like Price found a hole in the seam, momentum will do that. Drawdown after the break about 12 pips. Sweet.
Glad you found your way on this one. Go make some $ bro! Just keep your mouthpiece installed and your helmet on. I missed out as I am preparing for a court case for tomorrow. If I win I'll be able to add some more $ to my live acct. A real shame to have to take a sizeable company to court for money you have already earned.

K.I.S.S.
  • #33,110
  • Jun 10, 2009 10:18pm Jun 10, 2009 10:18pm
Quoting datogio
This guy looks promising, but the spread is sad story
Also this bar was formed during news no?

K.I.S.S.
  • #33,111
  • Jun 10, 2009 10:20pm Jun 10, 2009 10:20pm
Quoting KissFan
Glad you found your way on this one. Go make some $ bro! Just keep your mouthpiece installed and your helmet on. I missed out as I am preparing for a court case for tomorrow. If I win I'll be able to add some more $ to my live acct. A real shame to have to take a sizeable company to court for money you have already earned.

K.I.S.S.
That was my problem I always forgot to put my helmet on. lol.
Indicators show the past. Price Action "Indicates" the future.
  • #33,112
  • Jun 10, 2009 10:49pm Jun 10, 2009 10:49pm
Quoting jarroo
Are you talking about the green 8 hour PB or the blue 8 hour PB, pmr? The green one's location is very poor. I missed the blue 8 hour PB (darn it.)

I took the green 4 hour PB which is also in a poor location, but I am managing it very tight.
Yes the green one for now - i agree location not great but its with trend and in this persistent bull market, it works (with stops at BE quickly)

Also a sign to add to positions if u like ..
  • #33,113
  • Jun 10, 2009 11:04pm Jun 10, 2009 11:04pm
very nice mat,

jim

Quoting Matiasfx
I took a nice raczekfx type of trade on euro 4h from 50/61.8%fibs / PPZ/ 2bar pin... Working out great so far

Cheers

Matty
  • #33,114
  • Edited Jun 11, 2009 12:02am Jun 10, 2009 11:40pm | Edited Jun 11, 2009 12:02am
Primi,
Welcome to the thread!

To answer your question....
Sir James16 most probably uses InterbankFX (IBFX) MT4. yours is AlpariUK. They are of different timezones, hence different 365ema calculations/chart plot/construction.
I'm not sure about the Sunday bar issue, of whether which ones are with/without it.
but i do have a list of MT4 brokers with corresponding timezones here: (based on the current Daylight Savings Time... this DST i think ends late-October)

[base time used is... 12.00 MT4 Time]

GCI - 12.00 MT4 Time
IBFX, ODL, ForexUA/FOREX Ltd - 16.00
FXCM MT4 (Liquidity Connection/Boston Technologies variant) - 17.00
XTB, AlpariUS, AlpariUK, FXStation, MiG old, MiG new (DemoMAM server), KVB Kunlun/ForexStar, WHC, WSD - 18.00
FxPro, ForexGen, LiteForex/SIG, Bulbrokers STS, AFB, ActivTrades - 19.00
GTL Online/GTL Trading - 20.00
  • #33,115
  • Jun 11, 2009 12:07am Jun 11, 2009 12:07am
Quote
To complement Mike, I even have two different FxPro MT4 demos and they are way different because of the servers that the data comes from (that's the only difference I can find...)
Jduester/Josh,
what particular servers are u using? just curious if both are from FXPro or not.
thanks.
  • #33,116
  • Jun 11, 2009 12:14am Jun 11, 2009 12:14am
nice to see raczekfx made several posts today.






alifari, bobster, Revstar,
welcome to the thread....
Read on & Good luck!
  • #33,117
  • Jun 11, 2009 12:39am Jun 11, 2009 12:39am
Quoting krue
Hi, Rac, your 50/61 fib play looks indeed powerful, if I didn't mis-read your methodology, I would say its simplicity is beautiful. I am attaching a chart, which seems to me there could be an opportunity to identify such a setup, I think I need a PA to serve as trigger at tf either of 30mins, h1 or h4....... probably you also look into 15mins? in this chart, I am not sure if the trendline I draw makes any sense to you, do you think this is the one you might be looking at? probably this one has too many traffic to play out? I wish I am following...
Hi Krue,

I am also watching that 8500 area, too :-)

Happy trading!!!

Ken
  • #33,118
  • Jun 11, 2009 12:49am Jun 11, 2009 12:49am
its always good to see good.

jim

Quoting goodtiding5
Hi Krue,

I am also watching that 8500 area, too :-)

Happy trading!!!

Ken
  • #33,119
  • Jun 11, 2009 12:56am Jun 11, 2009 12:56am
Quoting james16
its always good to see good.

jim
Hi Jim,

Kudos to the master :-)
  • #33,120
  • Jun 11, 2009 1:55am Jun 11, 2009 1:55am
Anyone watching the EURGBP H4 inside bars? Been in a strong downtrend for the last few days
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