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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

  • #48,681
  • Nov 25, 2009 8:00am Nov 25, 2009 8:00am
Boooooooooo ... hisssss
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  • #48,682
  • Nov 25, 2009 8:10am Nov 25, 2009 8:10am
Pipmyride....That blue trendline on your chart looks great...watching the 1.6830 level for reversal indications....(88.6% retrace level and bearish Harmonic pattern).
  • #48,683
  • Nov 25, 2009 8:13am Nov 25, 2009 8:13am
Now we have the opposite, we have both the eur and aud moving down so the euraud is moving up
Without women, money would have no meaning - Aristotle Onassis
  • #48,684
  • Nov 25, 2009 8:17am Nov 25, 2009 8:17am
I identified this pi on GU chart. It seems to be a bit risky, there may not be a whole lot of room to move down. Who is with me?

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Kind Regards zol
  • #48,685
  • Nov 25, 2009 8:20am Nov 25, 2009 8:20am
here is a breakout setup I noticed, that failed. Just curious if I at least had the right idea?
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Many choose unhappiness over uncertainty.
  • #48,686
  • Edited 8:51am Nov 25, 2009 8:37am | Edited 8:51am
Very weird...

I have just placed a trade a while ago, and now came back to see what's going on.
For some reason my stop loss got hit although price never reached it.
I placed my stop above the 30min AUSUSD pin bar. Price NEVER went above it, but I still got out for a full loss and then price fell in my direction right away.

The MT4 shows the setup.
I have zoomed in into Oanda's chart to show that price never went above my pin.

I don't know where I can see my trade details on Oanda including my stop loss, but I am sure my stop was above that pin (too young to already become senile lol). Do I have a case with Oanda?
Do you guys think it will help sending them a complaint on this? It is just for the principle...want to be sure nothing stinky is going on (and that was good money too!!)

Thanks

Ben
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  • #48,687
  • Nov 25, 2009 8:48am Nov 25, 2009 8:48am
Quoting benji533
Very weird...

I have just placed a trade a while ago, and now came back to see what's going on.
For some reason my stop loss got hit although price never reached it.
I placed my stop above the 30min AUSUSD pin bar. Price NEVER went above it, but I still got out for a full loss and then price fell in my direction right away.

The MT4 shows the setup.
I have zoomed in into Oanda's chart to show that price never went above my pin.

I don't know where I can see my trade details on Oanda including my stop loss, but I am sure my stop was above that pin...

OK I found my trade details.

My stop was seted to 0.9305, and after my pin price went to 0.9303 max on the "ASK" info, meaning that I am still ok (on MT4 it went only to 0.93014).
Ask is higher than BID.

Now something stinks here!!
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  • #48,688
  • Nov 25, 2009 8:51am Nov 25, 2009 8:51am
Quoting benji533
OK I found my trade details.

My stop was seted to 0.9305, and after my pin price went to 0.9303 max on the "ASK" info, meaning that I am still ok (on MT4 it went only to 0.93014).
Ask is higher than BID.

Now something stinks here!!
Give Oanda a call Benji and they will straighten things out for you.

Off the top of my head it might be due to variable spreads. Maybe the spread was higher at that point. Check it out with them.

Aaron
  • #48,689
  • Nov 25, 2009 9:02am Nov 25, 2009 9:02am
Quoting TiaForex
Give Oanda a call Benji and they will straighten things out for you.

Off the top of my head it might be due to variable spreads. Maybe the spread was higher at that point. Check it out with them.

Aaron
Hey Aron, thanks for the input

To be honest I am not a big expert of the small technical stuff. So maybe you are right about a spread in a certain point. All I know is that my entry will always be plus the spread(?), but the stop loss doesn't remind exactly where I have seated it?

By the way, when I entered, the spread was on it's usual Oanda rate of 1.7 for that pair, if it matters.

Anyway I will contact them and see that's the story. Thanks for the help buddy.

Ben
  • #48,690
  • Nov 25, 2009 9:04am Nov 25, 2009 9:04am
Benji - set you r chart to 1 min and the min/max style of chart on Oanda and see if price hit your SL...
  • #48,691
  • Nov 25, 2009 9:08am Nov 25, 2009 9:08am
Quoting benji533
Very weird...

I have just placed a trade a while ago, and now came back to see what's going on.
For some reason my stop loss got hit although price never reached it.
I placed my stop above the 30min AUSUSD pin bar. Price NEVER went above it, but I still got out for a full loss and then price fell in my direction right away.

The MT4 shows the setup.
I have zoomed in into Oanda's chart to show that price never went above my pin.

I don't know where I can see my trade details on Oanda including my stop loss, but I am sure my stop was above that pin...
As an aside, I was looking at why I didn't take that trade and there was not divergence on my RSI(6)...do you have it applied to high or close? It should be high and thus there was not divergence in this case...nice trade though
  • #48,692
  • Nov 25, 2009 9:10am Nov 25, 2009 9:10am
Quoting lovejoy80
Benji - set you r chart to 1 min and the min/max style of chart on Oanda and see if price hit your SL...
Ok now I see it went higher...

Whats is this stuff?! I never knew these things. Is their 2 kinds of price information? If they will stop me based on the "max" kind, why don't they show it on the regular charts?

Ohh well dmitt with them!....never mind...next

Thanks by the way

Ben
  • #48,693
  • Edited 9:23am Nov 25, 2009 9:12am | Edited 9:23am
Quoting lovejoy80
As an aside, I was looking at why I didn't take that trade and there was not divergence on my RSI(6)...do you have it applied to high or close? It should be high and thus there was not divergence in this case...nice trade though
My RSI is based on the close info. There was a pretty good div - price made much higher highs, and the RSI made correlated highs.
  • #48,694
  • Nov 25, 2009 9:25am Nov 25, 2009 9:25am
Quoting benji533
Ok now I see it went higher...

Whats is this stuff?! I never knew these things. Is their 2 kinds of price information? If they will stop me based on the "max" kind, why don't they show it on the regular charts?

Ohh well dmitt with them!....never mind...next

Thanks by the way

Ben
hi beji, i tried to explain yesterday (not very well im afraid..lol)that the bars h/l shows the medium price between the spread. Oanda is a little different than other charting packages in that it doesnt print the high or low,or the bid and ask, of the bar but rather the medium price between the two. when you look at your chart you need to add on half the spread to the tops and bottoms of the bars to see where price actually went. i allways set the chart to show both ask and bid prices to make it clear and show when the spread increases. btw oanda does widen its spreads at news quite wide at times and for only short periods of time, even minutes at times.
just to be sure (if you havnt cleared it up yet) you can get the spread stats from the "resources" menu on oandas platform. or contact them for the info to see if you have had a problem or not??
hope this help
jon

EDIT: just checked benji and the stats are a day behind so you wont be able to see what the spread was at the time of your trade untill tomorro.
PATIENCE... DISCIPLINE
  • #48,695
  • Nov 25, 2009 9:37am Nov 25, 2009 9:37am
Quoting g_j_hook@yah
hi beji, i tried to explain yesterday (not very well im afraid..lol)that the bars h/l shows the medium price between the spread. Oanda is a little different than other charting packages in that it doesnt print the high or low,or the bid and ask, of the bar but rather the medium price between the two. when you look at your chart you need to add on half the spread to the tops and bottoms of the bars to see where price actually went. i allways set the chart to show both ask and bid prices to make it clear and show when the spread increases. btw oanda...
I guess I did not understand you yesterday lol. But now I fully do.
For the spread, I remember checking it a a bit after I placed the trade and it was 1.7 - but if you say it can change every minute, I am not sure now.

Anyway, that was just 1R with a valuable lesson, so it's ok.

By the way, how did you set your charts to show you the price plus the spread addition? I think I prefer that

Thank you Jon!!

Ben
  • #48,696
  • Nov 25, 2009 9:45am Nov 25, 2009 9:45am
Quoting benji533
OK I found my trade details.

My stop was seted to 0.9305, and after my pin price went to 0.9303 max on the "ASK" info, meaning that I am still ok (on MT4 it went only to 0.93014).
Ask is higher than BID.

Now something stinks here!!
look at their min/max chart which shows where actual bids and offers were. Valid stop out.
  • #48,697
  • Nov 25, 2009 9:47am Nov 25, 2009 9:47am
That would have been at 8:30 when all the news came out. The spread went to 10 pips, so your stop would need to be 9315 to offset the spread. The Ausie pairs are the worst. Some have 30 pip spreads during news. Just remember next time and you can click on Resources and check on spread statistics on Oanda.




Quoting benji533
OK I found my trade details.

My stop was seted to 0.9305, and after my pin price went to 0.9303 max on the "ASK" info, meaning that I am still ok (on MT4 it went only to 0.93014).
Ask is higher than BID.

Now something stinks here!!
  • #48,698
  • Nov 25, 2009 10:28am Nov 25, 2009 10:28am
Quoting mattfx
Many Thanks

That's what I was looking for, the happy face I had import dll switched off...an issue of trust I guess ?

Thanks again

No trust issues, I just like to make things easier for people. (you do not need the mq4 file to use the EA) However, if anyone wants the code, I'd be happy to provide it as well! (I actually sent it to a member a week or so ago who wanted to modify the EA a little)


Dan Gilbert- That looks awesome! That will be very helpful for people to learn the EA

Scotter17- That screen Snipit tool ROCKS. Thanks so much!
  • #48,699
  • Nov 25, 2009 10:42am Nov 25, 2009 10:42am
Quoting conasounga
That would have been at 8:30 when all the news came out. The spread went to 10 pips, so your stop would need to be 9315 to offset the spread. The Ausie pairs are the worst. Some have 30 pip spreads during news. Just remember next time and you can click on Resources and check on spread statistics on Oanda.
Actually I was 1H late to take that pin, so I think my entry wasn't during news time..but thanks anyway bro.

Anyway, I got over it....Hope this new one can push itself a bit more
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  • #48,700
  • Nov 25, 2009 10:59am Nov 25, 2009 10:59am
Quoting benji533
Actually I was 1H late to take that pin, so I think my entry wasn't during news time..but thanks anyway bro.

Anyway, I got over it....Hope this new one can push itself a bit more
lol... and he strikes again!! nice trade bro
next to the sell order box on oanda is the boxs/tabs which opens.."chart options" or "draw trendline". In the "chart options" tab( the one with the little lines) you can check the boxs for "show bid prices" "show ask prices" etc leave the "show average price" box unchecked and this should sort it out.
jon
PATIENCE... DISCIPLINE
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