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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

  • #45,501
  • Oct 8, 2009 9:06am Oct 8, 2009 9:06am
Quoting griff35
Hello all, this is my first post and I have read thru the first 100 pages of this post. Can any body tell me of a chart explaining the pin bar set ups?

thanks in advance

griff

Hey Griff

Welcome to the thread here are some posts to get you started



http://www.forexfactory.com/showpost...8&postcount=34

http://www.forexfactory.com/showthre...49#post2752349

http://www.forexfactory.com/showpost...postcount=3914

http://www.forexfactory.com/showpost...ostcount=14627

http://www.forexfactory.com/showthre...93#post2397993

Also be sure to read post # 1 - 100 times over it contains some of the most important information in this thread. Then begin to work from pg1 through at least until you have a firm grasp. I worked through most of this thread many many times. You will get something new each time.

Here is a nice summary from Josh, that will help keep things more organized to reference as you go along.

http://www.forexfactory.com/showpost...ostcount=23250

Enjoy!

Mike
  • #45,502
  • Oct 8, 2009 9:39am Oct 8, 2009 9:39am
Hey Folks,

My internet connection is crap at the mooment as I'm on the road with work but I notice a few pairs approaching key round number levels:

EURUSD: Bouncing off 1.4800 or going to blast through
GBPUSD: ab=cd, Gartley sell at 1.6100. Going down to 1.6000?
AUDJPY: At 80.00 now. Been massive resistance in the past.

Will be interesting to see how they play out.

A quick question. Anybody use ab=cd or gartley patterns combined with PA? I think it could be a very interesting combo.

Out for now
Boca
  • #45,503
  • Oct 8, 2009 12:40pm Oct 8, 2009 12:40pm
Anybody watching this one?

Reasonable size pin off the 17050 area, 50% fib and with the trend. I'm watching to see if the left eye will hold. Target will be the recent lows around 16750.

Attached Image (click to enlarge)
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  • #45,504
  • Oct 8, 2009 12:51pm Oct 8, 2009 12:51pm
Quoting ljr
Anybody watching this one?

Reasonable size pin off the 17050 area, 50% fib and with the trend. I'm watching to see if the left eye will hold. Target will be the recent lows around 16750.

Attachment
Hey lj

Since this is a very minor swing high watch out for the immediate trouble area at 1.6900

Mike
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  • #45,505
  • Oct 8, 2009 12:55pm Oct 8, 2009 12:55pm
Watchin that paint dry
Attached Image (click to enlarge)
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Keep taking CT trades, I need more money
  • #45,506
  • Oct 8, 2009 1:03pm Oct 8, 2009 1:03pm
Quoting mbqb11
Hey lj

Since this is a very minor swing high watch out for the immediate trouble area at 1.6900

Mike
Thanks Mike

Will certainly watch this area very closely. I did notice this but my thinking was this doesn't look like a very significant area in the context of the strong down trend. If price doesn't break through with momentum I'll have my stop quite tight.
  • #45,507
  • Oct 8, 2009 1:05pm Oct 8, 2009 1:05pm
Quoting ljr
Anybody watching this one?

Reasonable size pin off the 17050 area, 50% fib and with the trend. I'm watching to see if the left eye will hold. Target will be the recent lows around 16750.

Attachment
No, but I'd love to. Been holding some Real GBP for some time waiting to exchange it for CAD.

What server are uou using as I can't, so far, get achart on it.
{other than a Web Quote}
  • #45,508
  • Oct 8, 2009 1:13pm Oct 8, 2009 1:13pm
Quoting Bemac
No, but I'd love to. Been holding some Real GBP for some time waiting to exchange it for CAD.

What server are uou using as I can't, so far, get achart on it.
{other than a Web Quote}
B you can get it on, FXpro, or MB mt4 also

Best

Mike
  • #45,509
  • Oct 8, 2009 1:14pm Oct 8, 2009 1:14pm
Quoting Bemac
No, but I'd love to. Been holding some Real GBP for some time waiting to exchange it for CAD.

What server are uou using as I can't, so far, get achart on it.
{other than a Web Quote}
That is an FxPro chart Bemac.

I'm also holding real GBPs wanting to exchange to ZAR but GBP keeps dropping.
  • #45,510
  • Oct 8, 2009 1:37pm Oct 8, 2009 1:37pm
Quoting ljr
Thanks Mike

Will certainly watch this area very closely. I did notice this but my thinking was this doesn't look like a very significant area in the context of the strong down trend. If price doesn't break through with momentum I'll have my stop quite tight.

That was quick huh
Attached Image
  • #45,511
  • Oct 8, 2009 1:48pm Oct 8, 2009 1:48pm
Quoting mbqb11
Hey IC

For an hourly chart that second bar would catch my interest the most, being a better shaped bar and at a swing high....
Thanks for the reply Mike, firstly no worries i don't feel picked upon i've been trading live for years now (that was me blowing my own trumpet lol) i trade a form of dibs trading on the 1h but like the j16 way i'm very picky on my entries! So any imput you give is much appreciated as i look to add another string to my bow "as is were".

Watched your vids the other day.... great trading.

kind regards

ic
  • #45,512
  • Oct 8, 2009 3:02pm Oct 8, 2009 3:02pm
Quoting icarusfx
Thanks for the reply Mike, firstly no worries i don't feel picked upon i've been trading live for years now (that was me blowing my own trumpet lol) i trade a form of dibs trading on the 1h but like the j16 way i'm very picky on my entries! So any imput you give is much appreciated as i look to add another string to my bow "as is were".

Watched your vids the other day.... great trading.

kind regards

ic
awesome sir
  • #45,513
  • Oct 8, 2009 3:20pm Oct 8, 2009 3:20pm
When trading daily and weekly we consider a bar to be broken when the price has exceeded high/low of a certain bar for 10 pips.

Does this 10 pip 'rule' change when you move down to 4 hour and 1 hour charts?

For example, would you consider a 5 pip break enough on H4 an H1 to qualify for it?

Another question I have is if anyone here is using some kind of a tool (for MT4) to manage your trade(s). Auto move your stop loss when target 1 is hit for example? The reason for asking beeing that I can't monitor charts all the time during work...
  • #45,514
  • Oct 8, 2009 3:51pm Oct 8, 2009 3:51pm
Quoting bee24
When trading daily and weekly we consider a bar to be broken when the price has exceeded high/low of a certain bar for 10 pips.

Does this 10 pip 'rule' change when you move down to 4 hour and 1 hour charts?

For example, would you consider a 5 pip break enough on H4 an H1 to qualify for it?

Another question I have is if anyone here is using some kind of a tool (for MT4) to manage your trade(s). Auto move your stop loss when target 1 is hit for example? The reason for asking beeing that I can't monitor charts all the time during work...
Hey Bee

The buffer rule is not a hard and fast rule. That is for me personally my buffer changes for timeframes/pairs .

I usually give these numbers as a basis.

Weekly 20-40
Daily 10-30
4hr 10-20
1hr 8-15

These are very rough numbers. For example if you use a hard and fast 10 on the daily but that lands you right below a round number, or a bar high, I always find it worth it for a few extra pips to get that confirmation that area is broken.

As for managing EA, here is one but I have never used it or don't know anything about it. So please test


Best
Mike
Attached File(s)
File Type: mq4 Price Target EA V1.1.mq4   6 KB | 693 downloads
  • #45,515
  • Oct 8, 2009 3:52pm Oct 8, 2009 3:52pm
Quoting bee24
When trading daily and weekly we consider a bar to be broken when the price has exceeded high/low of a certain bar for 10 pips.

Does this 10 pip 'rule' change when you move down to 4 hour and 1 hour charts?

For example, would you consider a 5 pip break enough on H4 an H1 to qualify for it?

Another question I have is if anyone here is using some kind of a tool (for MT4) to manage your trade(s). Auto move your stop loss when target 1 is hit for example? The reason for asking beeing that I can't monitor charts all the time during work...
On the order management question, this is what I use. Below is a thread for an earlier version, but instructions there should be enough to figure it out. Works very well, but not always instant execution; there is sometimes a slight delay when the EA executes an order.

http://www.forexfactory.com/showthread.php?t=9553

Hope it helps
Attached File(s)
File Type: mq4 managetpv34.mq4   6 KB | 575 downloads
  • #45,516
  • Oct 8, 2009 4:12pm Oct 8, 2009 4:12pm
Quoting Ryanmcd
Watchin that paint dry
hi ryan

I was tempted to take this setup as i saw a pin with divergence, but then i saw huge bearish bars preceeding that small pin and it made me not take the trade.

will you take pins even if they are small in comaprison to the size of the previous bars on 5m tf?

been demoing a lot on 5m and really enjoying it. i like knowing whether i am right or wrong usaully within 30 mins or so.
  • #45,517
  • Edited 4:35pm Oct 8, 2009 4:24pm | Edited 4:35pm
beautiful levels on all US indices with divergence, and the NQ has turned from leader to laggard (nice doji close too), a push down next week perhaps?

edit: mornin' Ryan! going well I hope.
  • #45,518
  • Oct 8, 2009 5:16pm Oct 8, 2009 5:16pm
Quoting ljr
Anybody watching this one?

Reasonable size pin off the 17050 area, 50% fib and with the trend. I'm watching to see if the left eye will hold. Target will be the recent lows around 16750.
Very nice.

A J16 trade classic. Nice hard break too.
Indicators show the past. Price Action "Indicates" the future.
  • #45,519
  • Oct 8, 2009 5:43pm Oct 8, 2009 5:43pm
Thanks Jarroo!

Yes I was well aware of the strength of the PPZ. Somehow I just didn't expect the e/u to continue going higher during the asian session, that surprised me.

Quoting jarroo
Very nice artov.

I don't know if you were aware of the strength of the blue line you have on your chart. (I say this because you didn't mention it in your post.)

Here again the higher time frames Rule when trading on the lower time frames. The 1.4670 is a strong PPZ level on the Daily and added strength to your hourly PB.
  • #45,520
  • Oct 8, 2009 6:02pm Oct 8, 2009 6:02pm
Quoting artov
Thanks Jarroo!

Yes I was well aware of the strength of the PPZ. Somehow I just didn't expect the e/u to continue going higher during the asian session, that surprised me.
Great job. You never know when a runner will hit. Just protect yourself with a little room and hang on for the ride.
Indicators show the past. Price Action "Indicates" the future.
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