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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

  • #43,061
  • Sep 3, 2009 10:18pm Sep 3, 2009 10:18pm
Hello guys, this thread is enoromus. I am sure this is probably in here somewhere, but do you guys know where to find EA/Indicator that will help me with backtesting of dblhc/dbhlc set up? of course, I am not looking for the ea that will just give me results and do all the work for me. I just need some kind of indicator that will basically plot 1 when dblhc appears.....so that its easier to spot on charts...no other ocnditions, just pure dblhc..thanks.
Contact me for Custom Indicators/EAs.
  • #43,062
  • Sep 3, 2009 10:36pm Sep 3, 2009 10:36pm
Quoting evve
How do you normally trade a chart like the one above on GBP USD 4 H?
Good question.

1) you look for PA

2) you look for confluences

3) you empty your pockets

4) you spread your odds on the battle field

go through the first pages of the thread and get these bullets out from there, and then if need be you can always post around with a 'little' more specific question.

g.
I believe . . .
  • #43,063
  • Sep 3, 2009 10:43pm Sep 3, 2009 10:43pm
Quoting krue
the calculations of fib conflu seems useless, even if he said the conflu coming from multiple tf, given the S R lines plotted on his chart can be visually identified in one tf only, isn't it true? so, why we would need it.
You're right . We don't need it.

With fibs it's best to wait for confirmation that they are influential first, whether there's a previous S/R line there or PA confirmation or whatever. Which you can see naked anyway.
Bundy's status today: "Waiting..."
  • #43,064
  • Sep 3, 2009 10:44pm Sep 3, 2009 10:44pm
Quoting bundyraider
Yep. IBFX feed has it even lower.

Your black one is about right for the daily 365 though.

4 hr zoomed out...

lol

I open and closed my 365 ema and now it looks like yours. (corrected)
That was weird. I think my MTF moving average is messing with things. Not good.
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Indicators show the past. Price Action "Indicates" the future.
  • #43,065
  • Sep 3, 2009 11:14pm Sep 3, 2009 11:14pm
Quoting jarroo
lol
I open and closed my 365 ema and now it looks like yours. (corrected)
That was weird. I think my MTF moving average is messing with things. Not good.
hmmm....
is it possible that both of u have different FXPro feeds/server used?
a possible similar incident occurred last week. FXPro. here & here.
  • #43,066
  • Sep 3, 2009 11:16pm Sep 3, 2009 11:16pm
Quoting supremeChaos
hmmm....
is it possible that both of u have different FXPro feeds/server used?
a possible similar incident occurred last week. FXPro. here & here.

Same feeds. Once I did a refresh, it line up right.

Thanks sChaos.
Indicators show the past. Price Action "Indicates" the future.
  • #43,067
  • Sep 3, 2009 11:18pm Sep 3, 2009 11:18pm
Quoting squeezy
im sure benji would be in off 1.43 round no & rac in much earlier...
let's see how she plays out
in @ 4320 via sell limit set the night before
  • #43,068
  • Sep 3, 2009 11:22pm Sep 3, 2009 11:22pm
i'm short since 0.8780. now the price doesn't seem to break the 0.8720. i moved my stop to BE. would you get out here or let it run?
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meine augen sind die sterne
  • #43,069
  • Sep 3, 2009 11:33pm Sep 3, 2009 11:33pm
Quoting aserbfx
i'm short since 0.8780. now the price doesn't seem to break the 0.8720. i moved my stop to BE. would you get out here or let it run?
You have a S/R level here in blue that's holding it up. I like the .8700 and it may go down futher.
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Indicators show the past. Price Action "Indicates" the future.
  • #43,070
  • Sep 4, 2009 12:03am Sep 4, 2009 12:03am
Quoting aserbfx
i'm short since 0.8780. now the price doesn't seem to break the 0.8720. i moved my stop to BE. would you get out here or let it run?
look at this...

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  • #43,071
  • Sep 4, 2009 12:03am Sep 4, 2009 12:03am
Quoting raczekfx
in @ 4320 via sell limit set the night before

aha, i knew u were all over that, im sure u didnt hesitate with gu & nu ...
(i could post charts if u want)
a quick question rac, i know u wld hav had your Sl above 61 fib but how many pips above ...or was there anyother reason for having a SL which survived the continuous movement above 61 fib but stil reversed...
also does time of day hav anything to do wit your method
hmmmm! or maybe u didnt have a SL in place ...curious
thnx,just finished going thru your posts(need to go thru it a couple more times)
hope u dnt mind if i have some silly questions later
Simplicity is the key to success
  • #43,072
  • Sep 4, 2009 12:04am Sep 4, 2009 12:04am
mbqb11 and james, thank you for the warm welcome!


I didnt realize how fast this thread moves... 10 pages since last night, that is NUTS. wow.

Can someone give me a bit of insight to the PF... would I be better off just diving in to it now (where I would assume the info is much better organized) and then following the thread on a daily basis? I feel as tho my time may be better spent there.

Look forward to hearing from you
  • #43,073
  • Sep 4, 2009 12:18am Sep 4, 2009 12:18am
Quoting jarroo
lol

I open and closed my 365 ema and now it looks like yours. (corrected)
That was weird. I think my MTF moving average is messing with things. Not good.

hey jarroo,
if u were in this trade, would ur stop be above the bar break,or above the 1st bar that 1.63 to still give ur trade a little more room to breadth or .....
hmmmm! just remembered how u play them...u would have taken half at 1.63 area and moved to be ( and u would have bee stopped out by now on your second half)
i have my sl above the bar that hit 1.63 , my stop is around 1.6358(now risking about 0.2ish%)
just curious
thnx
Simplicity is the key to success
  • #43,074
  • Sep 4, 2009 12:40am Sep 4, 2009 12:40am
Quoting mbqb11
Hey Evve

I will PM you in a sec

Mike
Quote:
Originally Posted by evve http://cdn.forexfactory.com/images/buttons/viewpost.gif
Hi MIKE,

Thank you for you answer.I will start reading from the first page !
Also I plan on listening to James's advice and trade on demo only daily and weekly charts.

In the mean time I paid for his website and I am a member now.
My question is :

is there any post where I can see the trades you are taking?
I mean entry , stop loss take profit and everything?
That would help me understand what you are doing.
In the chat room you take live trades?
Seeing charts and trades helps me a lot in the learning process.
Also I apologies if this is not...

Hi mbqb11 and all, who trade PA and PPZ !

If you can plz send me PM, the answers to questions evve

Many many thanks !
P.S. I read this thread is 1.5 months, and very impressed!!!
  • #43,075
  • Sep 4, 2009 1:01am Sep 4, 2009 1:01am
Hey Fxairy

Welcome to the thread glad you are enjoying it

My PM to evve was in regards to PF posts, so it wouldn't really be relevant here. But keep on reading through this thread and there is plenty of great information to keep you very very busy

First post has some great useful summary style links as well, but nothing beats going through post by post. Eventually you know whos posts to read and whose you can more or less "skim".

Best
Mike

Quoting fxairy
Quote:...
  • #43,076
  • Sep 4, 2009 1:12am Sep 4, 2009 1:12am
I propose renaming the thread to

'james 16 - start at p1, stop trading the 5m chart... and no, we dont have an EA for you'
When you have to shoot, shoot. Dont talk.
  • #43,077
  • Sep 4, 2009 1:21am Sep 4, 2009 1:21am
Quoting joelcf
I propose renaming the thread to

'james 16 - start at p1, stop trading the 5m chart... and no, we dont have an EA for you'

i kno how u feel especially the start at p1 part
Simplicity is the key to success
  • #43,078
  • Sep 4, 2009 1:47am Sep 4, 2009 1:47am
Quoting joelcf
lol, complete opposite actually! your charts are clean, and clearly explain your thought process, entry, potential roadblocks and exit strategy in a logical manner.

Despite what you seem to think, people could do alot worse than emulate your style



As usual, Aaron reads my mind.



Absolutely. That would be awesome.
Hey Joel,

Sorry if it looked like a rant lol. You made a great post. It wasn't directtly to you - just wanted to make it clear in general.
The beauty about PA and PPZs - it can be plaid in many ways

Keep these posts coming

Ben
  • #43,079
  • Sep 4, 2009 1:48am Sep 4, 2009 1:48am
Quoting squeezy
hey jarroo,
if u were in this trade, would ur stop be above the bar break,or above the 1st bar that 1.63 to still give ur trade a little more room to breadth or .....
hmmmm! just remembered how u play them...u would have taken half at 1.63 area and moved to be ( and u would have bee stopped out by now on your second half)
i have my sl above the bar that hit 1.63 , my stop is around 1.6358(now risking about 0.2ish%)
just curious
thnx
Yes, you got it. Half at 1.6300ish 2nd half at break even that is now stopped out.
Indicators show the past. Price Action "Indicates" the future.
  • #43,080
  • Sep 4, 2009 2:34am Sep 4, 2009 2:34am
Quoting squeezy
im sure benji would be in off 1.43 round no & rac in much earlier...
let's see how she plays out
Hey squeezy,

I didn't take it.

Here are my charts

Ben
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