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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

  • #38,421
  • Jul 22, 2009 3:37pm Jul 22, 2009 3:37pm
Quoting mbqb11
Hey G, I had a zone around 83.45 PPZ area). I am about to run out will post a chart when I get back

Mike
No sweat, man. Just curious as to the potential reward you were expecting.

Thanks!
  • #38,422
  • Jul 22, 2009 3:43pm Jul 22, 2009 3:43pm
Quoting supremeChaos
No worries, as i think Jon/g_j_hook@yah is currently busy smelling the flowers in Holland.
u guessed it
lol
i promise i wont mention the word trendline ever again in my posts!! lol
i cant even draw mine correctly half the time!! haha


Quote
'customized/hybrid' TLs/channels/Fib.
pleeze tell everyone you were joking SC!!

Quote
Wait till Jon (Gj) reads that.
i did laugh and your post made me LOL!!

nice one
jon
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PATIENCE... DISCIPLINE
  • #38,423
  • Jul 22, 2009 3:58pm Jul 22, 2009 3:58pm
Quoting StoragePro
Spreads are smaller than a traditional MT4 borker - and they vary slightly from moment to moment. I've seen E/U at...
Ok thanks SP, my only problem (but a deal breaker) is their daily bar closes at 00:00 EST which is 5 am in the uk, I prefer 5pm EST close so ill be sticking with FxPro for demo.
I hear and I forget. I see and I remember. I do and I understand.
  • #38,424
  • Jul 22, 2009 3:58pm Jul 22, 2009 3:58pm
Quoting nasir.khan
OK the trend line i use is kind of Andrews pitchfork but if i delete it i still have one left
IF i re-draw the fib 50% would become 38.2%.

Thank's.
lol.....sos mate but the TL you have left doesnt stand for much confluence either imho. i personaly draw the TL from h/l to h/l or from o/c to o/c. i think it is important to stick to the obvious, simplist methods as they are the ones most traders will be using, and if you mix and match enough you could fit the TL were almost where you want and that leaves you too open to curve fitting.
just mo

jon
promise the last!! lol
PATIENCE... DISCIPLINE
  • #38,425
  • Jul 22, 2009 3:59pm Jul 22, 2009 3:59pm
B+ set up

1. pb at swing low(though shape not so good)
2. off s/r 1.8100
3. Off MA150
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  • #38,426
  • Jul 22, 2009 4:07pm Jul 22, 2009 4:07pm
Quoting forexngo
B+ set up

1. pb at swing low(though shape not so good)
2. off s/r 1.8100
3. Off MA150
Yes I see this as well. The 4 hr view gives us the added confluence of divergence. I will wait for this to play a little longer. The BEOB continuation a couple of bars back gives me some pause.

K.I.S.S.
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  • #38,427
  • Jul 22, 2009 4:20pm Jul 22, 2009 4:20pm
Quoting KissFan
Yes I see this as well. The 4 hr view gives us the added confluence of divergence. I will wait for this to play a little longer. The BEOB continuation a couple of bars back gives me some pause.

K.I.S.S.
Hey KissFan...we are in the same boat
  • #38,428
  • Jul 22, 2009 4:38pm Jul 22, 2009 4:38pm
Im on demo for the foreseeable future but would still like any feedback from anyone on this thread regarding my trades.

Ok, my first ever J16 demo trade, im taking this quick 50 pips scalp got my SL down to 70 below the eye, so not 1:1 but im not worrying about R:R just where I see price going.

PS
Im a programmer and was thinking about writing a program to pull the trades from MT4 placed into spreadsheet or database i.e. price/sl/tp/pair/spread etc. This could be run once a week, ill share it freely with you guys if anyone wants it, let me know if you can think of any other data to be pulled. Or if there is already one out there to save me the trouble.
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I hear and I forget. I see and I remember. I do and I understand.
  • #38,429
  • Jul 22, 2009 4:53pm Jul 22, 2009 4:53pm
Quoting tac
Im on demo for the foreseeable future but would still like any...
Hey Tac,

i follow you
but what i worry is that the previous pb(10th backward) has stalled the price at blue line? i don't know....just imaging as the same the case the big boss J16 mentioned. Am i right?
Yes, i like the spreadsheet that you make it up.....please share it with me
Cheers
fxngo
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  • #38,430
  • Jul 22, 2009 5:00pm Jul 22, 2009 5:00pm
Quoting forexngo
Hey Tac,

i follow you
but what i worry is that the previous pb(10th backward) has stalled the price at blue line? i don't know....just imaging as the same the case the big boss J16 mentioned. Am i right?
Yes, i like the spreadsheet that you make it up.....please share it with me
Cheers
fxngo
No problem ngo, Im not to worried about that line, if my trade doesn't trigger then no loss. If it breaks through that line then triggers my buy stop it "should" head up to the point I have marked to TP.

Tac
I hear and I forget. I see and I remember. I do and I understand.
  • #38,431
  • Jul 22, 2009 5:54pm Jul 22, 2009 5:54pm
What happened its very quiet tonight!! I blame the move to the commercial bin.
I hear and I forget. I see and I remember. I do and I understand.
  • #38,432
  • Jul 22, 2009 6:02pm Jul 22, 2009 6:02pm
Quoting tac
What happened its very quiet tonight!! I blame the move to the commercial bin.
ZZZZZZZZZZZZZZZZZZ



(5 past midnight UK time...)
  • #38,433
  • Jul 22, 2009 6:08pm Jul 22, 2009 6:08pm
Quoting fat_tom
ZZZZZZZZZZZZZZZZZZ



(5 past midnight UK time...)
Yeah bed time im up at 8 for work.
I hear and I forget. I see and I remember. I do and I understand.
  • #38,434
  • Jul 22, 2009 6:19pm Jul 22, 2009 6:19pm
Quoting tac
What happened its very quiet tonight!! I blame the move to the commercial bin.
I would blame summertime, trading desks half empty. Youngster traders are practising on low volumes. See today's action in GBP/USD two opposite pin bars during miday and sessions overlap -pulling the rope from the opposite ends. It always like that from mid July till end of August.
Saying that low volume and liquidity often makes wild price action swings so before my holiday I hope for some extra profits
  • #38,435
  • Jul 22, 2009 6:21pm Jul 22, 2009 6:21pm
Quoting pakiestra
I would blame summertime, trading desks half empty. Youngster traders are practising on low volumes. See today's action in GBP/USD two opposite pin bars during miday and sessions overlap -pulling the rope from the opposite ends. It always like that from mid July till end of August.
Saying that low volume and liquidity often makes wild price action swings so before my holiday I hope for some extra profits
What about all the people going on holiday they need to exchange to th destination currency so it should be a good time to trade.
I hear and I forget. I see and I remember. I do and I understand.
  • #38,436
  • Jul 22, 2009 6:21pm Jul 22, 2009 6:21pm
Quoting StoragePro
Spreads are smaller than a traditional MT4 borker - and they vary slightly from moment to moment. I've seen E/U at...
Hey Storage:

I agree with you....ECN is nice in order to trade the news...essential really...

I've actually seen inverse spreads...ie....where you are in the + when you open a trade.

More often than not, you can't beat the spreads that they offer (although Oanda is giving them a run for their money)...

What I realy like is that

1. They execute your order fast...immediately... in a volatile market (at news time)...and

2. they benefit when you win your trade and not vice versa (benefit when you lose) like MM's (Market Makers...eg...fxcm ibfx, fxdd etc...)

so no stop hunts...

GregB
  • #38,437
  • Jul 22, 2009 6:27pm Jul 22, 2009 6:27pm
Quoting batesmotel
Hey Storage:

I agree with you....ECN is nice in order to trade the news...essential really...

I've actually seen inverse spreads...ie....where you are in the + when you open a trade.

More often than not, you can't beat the spreads that they offer (although Oanda is giving them a run for their money)...

What I realy like is that

1. They execute your order fast...immediately... in a volatile market (at news time)...and

2. they benefit when you win your trade and not vice versa (benefit when you lose) like MM's (Market Makers...eg...fxcm ibfx,...
agreed Greg
SP is 100% right too. Every broker has its good and the bads. Most traders I know have more then 1 broker for many reasons. Often to play off their strength and weakness, safety issues, etc

Mike
  • #38,438
  • Jul 22, 2009 6:29pm Jul 22, 2009 6:29pm
Quoting forexngo
Hey Tac,

i follow you
but what i worry is that the previous pb(10th backward) has stalled the price at blue line? i don't know....just imaging as the same the case the big boss J16 mentioned. Am i right?
Yes, i like the spreadsheet that you make it up.....please share it with me
Cheers
fxngo
Hey forexngo,

How did you get the data to display in the upper left portion of your FXPro charts.
Thnx
A lawn mower is not an effective tool to pick-up dog poop!
  • #38,439
  • Jul 22, 2009 6:32pm Jul 22, 2009 6:32pm
Quoting g_j_hook@yah

i did laugh and your post made me LOL!!

nice one
jon
And I thought Fibonacci was the only trading tool to show up everywhere in nature. It turns out trendlines also do it
  • #38,440
  • Jul 22, 2009 6:33pm Jul 22, 2009 6:33pm
Quoting tac
What about all the people going on holiday they need to exchange to th destination currency so it should be a good time to trade.
Comparing to size traded by hedge funds, investment banks this private money changing hands is at the best miniscule.
Is like to pour a pint of beer into the river and then trying to take cup few meters down to taste it :-)
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