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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

  • #43,561
  • Sep 11, 2009 11:38am Sep 11, 2009 11:38am
Quoting scott087
I look at it this way. .........
I'd like to hear what joel has to say about this

Scott
thanks scot for your replay, and I'll like to too hear what joel has to say, I think he he working at some bank


thanks ghous for your encuragement, actually "Trading in the zone" is in my list of reading.
Hey ghous like to see you back here, who it's your studying?

thanks shermentor, liquidity is the key word here
  • #43,562
  • Sep 11, 2009 11:40am Sep 11, 2009 11:40am
Quoting StoragePro
LOL, that bar treats me like the girls in high school did .... all talk, no action.
That analogy works almost *too* well! Back when I was just starting out, I would have jumped at the chance to play this one - after all, it has a decent enough shape at first glance... but now, you couldn't pay me enough to waste my time on this trash.. It's all about finding the A++ action
When you have to shoot, shoot. Dont talk.
  • #43,563
  • Sep 11, 2009 11:41am Sep 11, 2009 11:41am
Quoting eswap0
Many thanks nasir, a nice tool for back testing.
Is it me or bearish PB are not indicated?
Here is it.
Attached Image
  • #43,564
  • Sep 11, 2009 11:52am Sep 11, 2009 11:52am
Quoting nasir.khan
Here is it.
Thanks nasir...but bearish PB are not drawn yet.
Moving this numbers I get more or less PB drawn, but all bullish.
Any idea?
Thanks
Trading: the skill of avoiding trades
  • #43,565
  • Sep 11, 2009 11:59am Sep 11, 2009 11:59am
Quoting eswap0
Thanks nasir...but bearish PB are not drawn yet.
Moving this numbers I get more or less PB drawn, but all bullish.
Any idea?
Thanks
which pair and time frames?
  • #43,566
  • Sep 11, 2009 12:08pm Sep 11, 2009 12:08pm
guys what Do u think of the Eur?usd

if its played on the break of the 1st small support line
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  • #43,567
  • Sep 11, 2009 12:17pm Sep 11, 2009 12:17pm
Quoting nasir.khan
which pair and time frames?
Please check attached screenshot.
Red arrows pointing some bars that should have been selected as a Bearish PB.
Green arrow, the only bar marked as Bearish PB.
Thanks!
Attached Image (click to enlarge)
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Trading: the skill of avoiding trades
  • #43,568
  • Sep 11, 2009 12:18pm Sep 11, 2009 12:18pm
Opinions of this EURCAD daily pb? It seems to be forming a counter pb. Would it be good to close it or just rely on the strenght of the initial pb and let it open over the weekend?
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  • #43,569
  • Sep 11, 2009 12:24pm Sep 11, 2009 12:24pm
Quoting ezz
guys what Do u think of the Eur?usd

if its played on the break of the 1st small support line
Ahhh nice to see that happening.

http://www.forexfactory.com/showpost...ostcount=43429

But i will not take it. Look at Trouble areas just below, Traffic on the left, we are against the trend, not a big BEOB or PB and also end of the week.
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  • #43,570
  • Edited 1:31pm Sep 11, 2009 12:42pm | Edited 1:31pm
Quoting jarroo
The Daily Cad PB is a good example of what your saying here. It fits it to a tee. Orange line is not giving any room to manage and stalling momentum.


Thanks Bundy.


Jim
Geez man! ...I don't like screwin' with other peoples comfort zones, mate.

What I seen with UCad was the un-even bottom (per blue arrow "upset" ...Not horizontal to the one before it) . Don't like them myself....Just myself. ...meaning the pin we are talking about is below it ...totally not 'right'. ...K? ....I wouldn't be surprised if Mike had a similar view to this , actually. ....Being a break out man like myself. (thought he don't use the line chart)

I draw off of the line chart. So I got this... (orange line)

(JUST ANOTHER TRADE FILTER. I actually look for a short in this situation. No momentum building 'Room' for that either here , though. )
Attached Image
Bundy's status today: "Waiting..."
  • #43,571
  • Sep 11, 2009 12:47pm Sep 11, 2009 12:47pm
Quoting joelcf
That analogy works almost *too* well! Back when I was just starting out, I would have jumped at the chance to play this one - after all, it has a decent enough shape at first glance... but now, you couldn't pay me enough to waste my time on this trash.. It's all about finding the A++ action

I cannot resist...

I jumped more than my share - and got slapped a lot...

I better stop right there...
I'm pretty much done with all this ...
  • #43,572
  • Sep 11, 2009 12:50pm Sep 11, 2009 12:50pm
Quoting StoragePro
I cannot resist...

I jumped more than my share - and got slapped a lot...

I better stop right there...
lol .... just got home from the 'jump'ing room.
Bundy's status today: "Waiting..."
  • #43,573
  • Sep 11, 2009 1:21pm Sep 11, 2009 1:21pm
Quoting eswap0
Please check attached screenshot.
Red arrows pointing some bars that should have been selected as a Bearish PB.
Green arrow, the only bar marked as Bearish PB.
Thanks!
Ist of all Detecting PB is tricky you have to change those (60-40) figures accordingly to different Time Frames and Pairs.

2nd i think something is wrong with it but this will do.
Attached File(s)
File Type: mq4 PinI4Bbar AHA 0.1.mq4   9 KB | 655 downloads
  • #43,574
  • Sep 11, 2009 1:24pm Sep 11, 2009 1:24pm
Quoting nasir.khan
Ist of all Detecting PB is tricky you have to change those (60-40) figures accordingly to different Time Frames and Pairs.

2nd i think something is wrong with it but this will do.
Thanks nasir.
Edit: yes, this works fine. I will combine both.
Trading: the skill of avoiding trades
  • #43,575
  • Sep 11, 2009 1:28pm Sep 11, 2009 1:28pm
Hey Ben i think you have double that Demo account?
  • #43,576
  • Sep 11, 2009 1:30pm Sep 11, 2009 1:30pm
Is anyone watching this? It looks like a pretty clear breakout pattern. Location looks good, ppz at round number 70.00, 150ema and a bunch of fibs also line up with 70.00 to the long side. The weekly trend is up.

Here are the 2 scenarios which I'm looking at. I'm liking the heavy confluence at 70 and I'd like to see a breakout to the upside and a pullback to 70.

What do you guys think?
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  • #43,577
  • Sep 11, 2009 1:37pm Sep 11, 2009 1:37pm
Quoting nasir.khan
Hey Ben i think you have double that Demo account?
  • #43,578
  • Sep 11, 2009 1:41pm Sep 11, 2009 1:41pm
Quoting scott087
Is anyone watching this? It looks like a pretty clear breakout pattern. Location looks good, ppz at round number 70.00, 150ema and a bunch of fibs also line up with 70.00 to the long side. The weekly trend is up.

Here are the 2 scenarios which I'm looking at. I'm liking the heavy confluence at 70 and I'd like to see a breakout to the upside and a pullback to 70.

What do you guys think?
I like it. But only from looking at it I have a feeling of a very small move after the break...there is no clear trend and this thing chops like a beast.

Ben
  • #43,579
  • Sep 11, 2009 2:36pm Sep 11, 2009 2:36pm
Quoting Shermenator
Simply to create liquidity ....if huge yard orders want to come into the market they will push price down to a large area of sell stop so they can get mostly filled at very closes price like this they dont get huge slippage. And these sell stops are placed at key lows or below support ext...its not that they are trying to stop you out its just that is the mechanics of the market for large players. Its the only way they can play .


In a market as liquid as FX, it is never liquid enough, not even close
  • #43,580
  • Sep 11, 2009 2:39pm Sep 11, 2009 2:39pm
Chart on GBP/USD
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Zojahamad