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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

  • #34,001
  • Jun 19, 2009 6:36am Jun 19, 2009 6:36am
which ema does the majority of traders use?
so which are the most important in your opinion?

which do you recommend? 100, 200, 365 etc...?

thanks
meine augen sind die sterne
  • #34,002
  • Jun 19, 2009 6:47am Jun 19, 2009 6:47am
Quoting Autumm
Just a heads up for those.

There is a possible pinbar forming on the usd/jpy 4hrs
Nose went through the 150 and 365ema and ppz.
lets see if the PB will hold in 35mins time
For me personally there is a lot of traffic that this pin order would open into. Lots of previous highs and lows.
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Click to Enlarge Name: USD JPY 4 hour.JPG Size: 28 KB
  • #34,003
  • Jun 19, 2009 7:09am Jun 19, 2009 7:09am
Quoting Tipers
I think he's refering to the euro dollar : )
Thanks mucho Tipers! I didn't want to make any assumptions.

K.I.S.S.
  • #34,004
  • Jun 19, 2009 7:27am Jun 19, 2009 7:27am
Always lookin 4 an excuse to short this pair
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  • #34,005
  • Jun 19, 2009 7:27am Jun 19, 2009 7:27am
  •  LSs
  • | Joined Jan 2009 | Status: I switched to the smarter side | 84 Posts
Quoting marcelnyo
Hi LS, this is where our discretion as traders comes in, I'll rephrase what Jduester said awhile ago about his learning stages in this thread.
Appreciate that marcel, I'm still in early newbie stage too, so....a fresh mind can easily absorb anything. I do agree with you that the PPZ is not a major one (:

BtW, trendlines, i used to love use them. So much that my whole chart has too many trendlines. But when i read J16 stated that these trendlines are a different league compared to these horizontal lines, i acquired the confidence to delete all my trendlines Nevertheless, trendlines cannot be denied for their usage.
  • #34,006
  • Jun 19, 2009 7:28am Jun 19, 2009 7:28am
Quoting wwtravel
I have a pending order at the break of the pin.
You must have pulled trigger based on lower time frame.
Good luck to you on this trade. Looks like you may have a runner!

K.I.S.S.
  • #34,007
  • Jun 19, 2009 7:33am Jun 19, 2009 7:33am
Quoting pipmyride
May not have been the best shape, but location was definately A+ and ....... WITH TREND

Working beautifully ... locked in 100+ at 159, if it gets past this congestion area then cha-ching !
I got stopped out at 159 how about you? Its all good though real good!
  • #34,008
  • Jun 19, 2009 7:37am Jun 19, 2009 7:37am
LSs,
james16 has often encouraged us to use the james16 method with whatever system/method that we are using to increase profitability & chance of success. if u love trendlines, u can continue to use it in conjunction with j16.

for trendlines etc. u can check Igrok's thread, & posts from aediaz1 & belekas.
u can check them out once u are consistent with j16. or u can learn about it on the side. i highly recommend u devote most of your time learning j16.

j16 skills & "side effects" (like Patience, Trade Discretion) will be your core strength. You can bank on it.
  • #34,009
  • Jun 19, 2009 7:50am Jun 19, 2009 7:50am
U/J stopped out moved to b/e looks like to fast might play again from 97 if it runs back up
  • #34,010
  • Edited 8:17am Jun 19, 2009 7:50am | Edited 8:17am
Mahoney,
Greetings....
Looking exclusively at your chart..
compare the PB with the previous bar. fairly small, right? this may just be a pause rather than a possible reversal. Having said that, it may or may not work. PA bar size is less important than the bar location.

if in case the PB works, immediate roadblocks aplenty, something like every 10 pips. if price can slice through these, possible target could be within 0.8530 - 0.86 area.

check other pairs, there are possibly better opportunities elsewhere.

(in case u get back, hopefully u can resize your chart above; it's a bit wide; thanks)


PS. just noticed that the previous huge up-bar was a BUOB (although not at an ideal place)
  • #34,011
  • Jun 19, 2009 8:07am Jun 19, 2009 8:07am
Quoting 4fun
I got stopped out at 159 how about you? Its all good though real good!
using a trail i got 159.30 ... very happy !
  • #34,012
  • Edited 8:27am Jun 19, 2009 8:16am | Edited 8:27am
Autumm, FxMatt,
imo...
this H4 PB may work. if price can't breach 97.10 (rejected price as expected) & 97.50 area convincingly,
the downside roadblocks seem to be the 96.50 area (very near current price) then 96, then the (currently) stubborn 95.50-95.60 PPZ.
Let's see

EDIT: i have a minor PPZ @ 96.80 & MAs are intertwined slightly above it on H1 & H4.


Quote
When looking for pivot point zones is it better to be looking at previous highs and lows (clear on a bar chart) or previous close levels (clearer on a candle chart)? Is one level likely to be stronger than the other?
FxMatt,
u can use all --- highs, lows, close. remember PPZ is an area, not a specific price. this area can be as narrow as 5 pips, or as wide as 50 or more pips. & price does not have touch this area "perfectly" to be deemed as valid, although we want price to get very near this as much as it can.
The key is to look for areas in a chart that has a bundle of highs, lows & closes.
hope this clarifies it a bit.



Quote
which ema does the majority of traders use?
so which are the most important in your opinion?
which do you recommend? 100, 200, 365 etc...?
aserbfx,
there is no specific survey on what most traders use. all those u mentioned are used. u can add 150.
u should not concern yourself much about it. price does not always cross over or bounce off of MAs. u can very much pick any MA, smoothed, exponential, simple or whatever, & any value, & most likely price will bounce off of or cross over it, 1 time or another. u can just find your favorite MA/s (aside from those above) & stick to it/them.
better to concern yourself about learning & trying to master reading PA & plotting 'high probability'/correct PPZs.
  • #34,013
  • Jun 19, 2009 8:23am Jun 19, 2009 8:23am
Quoting supremeChaos
FxMatt,
u can use all --- highs, lows, close. remember PPZ is an area, not a specific price. this area can be as narrow as 5 pips, or as wide as 50 or more pips. & price does not have touch this area "perfectly" to be deemed as valid, although we want price to get very near this as much as it can.
The key is to look for areas in a chart that has a bundle of highs, lows & closes.
hope this clarifies it a bit.
Thank you SupremeChaos - that certainly helps. I am trying to train my eyes to spot these important zones and making some progress.

I very much appreciate your response.

Best regards
Matt
  • #34,014
  • Jun 19, 2009 8:28am Jun 19, 2009 8:28am
Interbank FX vs FxPro chart which one to use ... there is big difference in charts if you have them both i saw some people here with FxPro has some pins and on the IBFX nothing .... anyone?
  • #34,015
  • Jun 19, 2009 8:42am Jun 19, 2009 8:42am
FxMatt,
if u haven't already.... check the free videos in the PF
also, extremely recommendable that u save/compile all of the charts posted by james16 & the gang like jarroo, mbqb11, raczekfx. jarroo makes a regular posts of "easy-to-read" charts

Check all free videos, charts & posts made by them.


Quote
Interbank FX vs FxPro chart which one to use ... there is big difference in charts if you have them both i saw some people here with FxPro has some pins and on the IBFX nothing .... anyone?
teodosy87,
of course, IBFX & FXPro are of different timezones.
IBFX is 3 hours ahead of FXPro. example, IBFX time now is 13.00+, FXPro 16.00+.
u can have both. several here look at 2-3 MT4 brokers regularly. some 3 - 5 MT4s.
precisely because of the different bar formations presented in every broker at the same time.
& precisely why posters here should always indicate the MT4 broker(if not visible on their charts) they are using for clarification/easy identification.
  • #34,016
  • Jun 19, 2009 8:49am Jun 19, 2009 8:49am
Quoting supremeChaos
FxMatt,
if u haven't already.... check the free videos in the PF
also, extremely recommendable that u save/compile all of the charts posted by james16 & the gang like jarroo, mbqb11, raczekfx. jarroo makes a regular posts of "easy-to-read" charts

Check all free videos, charts & posts made by them.


teodosy87,
of course, IBFX & FXPro are of different timezones.
IBFX is 3 hours ahead of FXPro. example, IBFX time now is 13.00+, FXPro 16.00+.
u can have both. several...
Thanks alot this was very helpful
  • #34,017
  • Jun 19, 2009 9:04am Jun 19, 2009 9:04am
teodosy87,
i believe i have something similar to this post before.
Anyway... here is a list of MT4 brokers i have checked.
(verify the broker timezones)

Base time in this list would be IBFX (add/subtract the number of hours from IBFX time, to get particular broker's time; Example, GCI MT4 is IBFX - 4hours, hence GCI time is 9.00 when IBFX is 13.00)
[Note: DST, Daylight Savings Time, currently in effect]

GCI = IBFX - 4
IBFX, ODL, ForexUA/FOREX Ltd = 13.00
FXCM MT4 = IBFX + 1
XTB, AlpariUS, AlpariUK, FXStation, MiG (old & new servers), KVB Kunlun/ForexStar, WHC, WSD, ActivTrades = IBFX + 2
FxPro, ForexGen, LiteForex/SIG, Bulbrokers, AFB = IBFX + 3
GTL Trading = IBFX + 4

FYI
  • #34,018
  • Jun 19, 2009 9:15am Jun 19, 2009 9:15am
Quoting supremeChaos
FxMatt,
if u haven't already.... check the free videos in the PF
also, extremely recommendable that u save/compile all of the charts posted by james16 & the gang like jarroo, mbqb11, raczekfx. jarroo makes a regular posts of "easy-to-read" charts

Check all free videos, charts & posts made by them.
Thanks again - great advice
  • #34,019
  • Jun 19, 2009 9:21am Jun 19, 2009 9:21am
Awesome thread!! Still going strong...Its amazing to see how far its come from inception!!
  • #34,020
  • Jun 19, 2009 9:42am Jun 19, 2009 9:42am
Wow, baddison!
I'm amazed to see u post live.
Lurk less, post more.
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