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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

  • #44,421
  • Sep 23, 2009 12:25pm Sep 23, 2009 12:25pm
Yes he is on both accounts.

Que

Quoting benem
Thank you Mike....you're always ready to help new people coming in.....you are an excellent trader because you are an excellent person.
Que
  • #44,422
  • Sep 23, 2009 1:09pm Sep 23, 2009 1:09pm
Quoting mbqb11
Hey T,

An OHLC bar chart(as we use here) and a candlestick chart show the EXACT same information.
Quote
Thank you Mike....you're always ready to help new people coming in.....you are an excellent trader because you are an excellent person.
hey mike thanks for your replay, and you definitely are not only a good trader but an very generous person, helping us.

and for now on I'll use both of chart just for a better perspective
  • #44,423
  • Sep 23, 2009 1:23pm Sep 23, 2009 1:23pm
Hi,

What do you think about this BUOB? Enter would be around 10 pips above the high of the bar and I will use lower TF for tighter stop, putting it on the last swing low or the last fractal.
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  • #44,424
  • Sep 23, 2009 1:59pm Sep 23, 2009 1:59pm
So i toookl this iffy trade agaisnt the trend down and it isnt looking to promising so far. I thinkight the round number and a large engulfing bar would maybe push this baby up. The trade was basically triggered to the pip tho :-(. What I am going to try and did a little is just reduce my risk below the consolidation level to the left and hope we can get a bounc up from it. Any one else stuck in this right now?

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  • #44,425
  • Sep 23, 2009 2:04pm Sep 23, 2009 2:04pm
Quoting atton
Hi,

What do you think about this BUOB? Enter would be around 10 pips above the high of the bar and I will use lower TF for tighter stop, putting it on the last swing low or the last fractal.
hey atton let my give it a try to this one,I'm not an experimental guy so you may take this in consideration also.

this is a good setup in my opinion you have so many confluence in your favor.
-it's off of strong suport line and also big round number
-it's with the major trend
-you have divergente at your side
-and space (150 pips from the problem area)
-the OB engulfed the previw last 3 bar on my feed

you also have identified those zone of problem where you must act acordingly and protect yourself.

edit: lets wait until it's close
  • #44,426
  • Sep 23, 2009 2:05pm Sep 23, 2009 2:05pm
I am new to your thread and really like what I'm seeing. Have started reading from the first post and have a question about broker closing times. I'm running several demo accounts from dofferent brokers and their 00:00 GMT varies from 4:00 PM to 6:00 PM central. This makes the apperance of the bars on the smaller time frames different. A pin bar on one broker station does not appear on the other. What is the prefered time CST for 00:00 GMT?

Thanks
Cliff
  • #44,427
  • Sep 23, 2009 2:08pm Sep 23, 2009 2:08pm
Quoting cchad3
I am new to your thread and really like what I'm seeing. Have started reading from the first post and have a question about broker closing times. I'm running several demo accounts from dofferent brokers and their 00:00 GMT varies from 4:00 PM to 6:00 PM central. This makes the apperance of the bars on the smaller time frames different. A pin bar on one broker station does not appear on the other. What is the prefered time CST for 00:00 GMT?

Thanks
Cliff
Hey Cliff

Welcome to our little home

The answer really is whatever broker you are comfortable with. I use a few brokers to get a few different views of the aggregation of the bars. What this tells us is that it is all about LOCATION. Location is everything with this stuff. The bars are simply trigger points off that.

As for daily close I prefer 5pm est close(which is close to NY close). I am not sure what that translates too in GMT, but FXpro is that.

Again welcome and hang around

Mike
  • #44,428
  • Sep 23, 2009 2:13pm Sep 23, 2009 2:13pm
Thanks Mike, I plan to.....this is great stuff.
  • #44,429
  • Sep 23, 2009 2:53pm Sep 23, 2009 2:53pm
Some trades triggered around FOMC, most of them by limit orders
.
.
yup, J16 rocks.... .

What's going to happen when this thread gets moved away from FF..
.
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  • #44,430
  • Sep 23, 2009 2:58pm Sep 23, 2009 2:58pm
Quoting raczekfx
Some trades triggered around FOMC, most of them by limit orders
.
.
And the usual suspect....

baaack to caaave..
.
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  • #44,431
  • Edited 3:26pm Sep 23, 2009 3:08pm | Edited 3:26pm
Hallo, found this one on Usd/Chf.

Pin Bar....not the most beautiful.
Fib 76.4....i know is not very popular here in James16 forum.
Ppz
Round number at 1.0200
and nice divergence.........

Let's see how is going to close this potential Pb.

P.S.
what i don't like is the opposite huge spike at 1.0360.....fighting a counter trend PB.....
I'll pass on this one.....
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Patience is essential
  • #44,432
  • Sep 23, 2009 3:19pm Sep 23, 2009 3:19pm
Hey Rac,

Were you sniping DJ/SP for a reversal before taking these trades
or pure J16 pa ?

or a combination of both..

Quoting raczekfx
And the usual suspect....

baaack to caaave..
.
  • #44,433
  • Sep 23, 2009 3:19pm Sep 23, 2009 3:19pm
outside bars on nearly all currencies versus USD being formed on my charts...anyone got any thoughts on the setups?
  • #44,434
  • Sep 23, 2009 3:26pm Sep 23, 2009 3:26pm
Quoting lovejoy80
outside bars on nearly all currencies versus USD being formed on my charts...anyone got any thoughts on the setups?
On NZD/USD there's a decent looking pinbar (to me at least). I'm very new to this thread and just trading micro lots right now, but this looks good enough to me that I already set a pending order short under the bar (.7172).

I welcome any comments, good, bad, or ugly...
  • #44,435
  • Sep 23, 2009 3:41pm Sep 23, 2009 3:41pm
I entered 10 pips below yesterday's pin on the usdchf daily yesterday. At +50 pips, I moved my stop to break even. That pin wasn't the best, so I should've closed out the first time it bounced of 1.02000 support. Got greedy and stayed in, so now about 5 pips from being closed out at my stop. That support is brutal, but the recent bar low seems to be keeping current daily bar's high at bay. We shall see.
  • #44,436
  • Edited 4:13pm Sep 23, 2009 3:42pm | Edited 4:13pm
I'm loving the looks of that gbp/usd daily coming up with a target of the previous 1.6250 area and I'm also liking the usd/jpy. There are a few others, but I wouldn't go into detail with them as they would take a little more to manage than these two would and for the new guys, that's a no no. Stick to simple, make your money.

EDIT : Scratch that Usd/jpy, I wouldn't trade it. It could turn out but fugaddaboudit.
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I dream, therefore I become.
  • #44,437
  • Sep 23, 2009 3:44pm Sep 23, 2009 3:44pm
Quoting TC East
On NZD/USD there's a decent looking pinbar (to me at least). I'm very new to this thread and just trading micro lots right now, but this looks good enough to me that I already set a pending order short under the bar (.7172).

I welcome any comments, good, bad, or ugly...
I'm using stochastics instead of MACD, but I'm also seeing some nice divergence on the NU Daily as well...

Again please offer any comments; am quite new at this method...
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  • #44,438
  • Sep 23, 2009 4:13pm Sep 23, 2009 4:13pm
Quoting rustyjeff
here is what I mean..
double tops/bottoms with divergence..
When I catch these at good locations they will often lead to a larger tf PA.
I can see Jeff, you like to use Bolinger Bands (please correct me if I talk rubbish ;o) . I like them too, with 3 (or sometimes 5 bands).
If the price action is stuck somwhere ithe most common place is just around the middle Bolinger Band. That can help "guide the trade" at least for me. Otherwise I don't touch 5 minute charts yet...
...hmm of course has tempted me and I scalp 15 minutes charts with the same system for couple of months and the observations are promising.:-)
Some nice meaningful movements today - that was quite a day :-)
Let's hope with the help of Jim, Mike,Jarroo,Ghous and all this Gold Dust in premier video and a public thread contents everybody will be able to squeeze some monies out and finish Forex job on Thursday with nice, chuncky pockets for the weekend
Cheers
  • #44,439
  • Sep 23, 2009 4:23pm Sep 23, 2009 4:23pm
Quoting raczekfx
Some trades triggered around FOMC, most of them by limit orders
.
I KNEW that was going to happen last night! F#@! ...LOL
Bundy's status today: "Waiting..."
  • #44,440
  • Sep 23, 2009 4:29pm Sep 23, 2009 4:29pm
... very good to see you around.
Hope you and all others had a nice and profitable day :-)


Quoting raczekfx
What's going to happen when this thread gets moved away from FF..
.
What ?????????????????????????
What do you mean "moved away" ?? Does FF want to exert some sentence or what I'm missing, please update me if possible
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