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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

  • #56,261
  • Feb 25, 2010 4:17pm Feb 25, 2010 4:17pm
Quoting mbqb11
Oanda is usually 2 I think it is now. My ecn is anywhere from 0-1(more 1)
which one?
Thanks


...my last visit here was Feb.24.... just finished reading 15-16pages (default FF settings), started reading about 4am.
  • #56,262
  • Feb 25, 2010 4:19pm Feb 25, 2010 4:19pm
Quoting supremeChaos
which one?
Thanks


...my last visit here was Feb.24.... just finished reading 15-16pages (default FF settings), started reading about 4am.
I am with MB

yeah this thing move FAST now. Gotta check in every few hours
  • #56,263
  • Feb 25, 2010 4:21pm Feb 25, 2010 4:21pm
my 4h $/cad chart does not match Jaroo's. do I need to change a seeting on myMT4 platform? I have noticed this with Benjis aud/$ also. Thanks in advance
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  • #56,264
  • Feb 25, 2010 4:22pm Feb 25, 2010 4:22pm
Hi guys, Mike,

I got a pin bar on EURUSD today. First of all this is not an A+ setup for me and even though I have still 3 free bullets this month, I'm not taking it. However for some reason, I think this will work out and here's why I think so:

+it's a very nice shaped pin
+it's protruding round number 1.3500
+off of the very good PPZ I think
+it's near the fib 61
+ we actually have double bottom although this is much more visible on 4h/1h chart

-bar is too small
-lot and lot of troubles in front of it
-NO SPACE until this first trouble areas are broken

(The fact that it's against some 2 months trend doesn't bother me at all).

Now I'm posting this because similar thing happened at the and of prevous trend on December 3rd 2009. Small pin, kind of double top, 76 fib, lot of trouble areas and yet it broke it like a butter. Also Jim was sending chart of this later.

Any thoughts?

BTW. As I mentioned, I have no trade in February because I didn't see anything that I considered A+ setup on my 25 forex pairs. I trade only daily charts. Does anyone took some A+ setup on daily forex chart in February? I'd be interested to see some screenshots...

Thans guys and all the best,
Mikey
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  • #56,265
  • Feb 25, 2010 4:23pm Feb 25, 2010 4:23pm
Quoting mbqb11
I am with MB

yeah this thing move FAST now. Gotta check in every few hours
I'm checking it out as we speak. Thanks Mike.
Indicators show the past. Price Action "Indicates" the future.
  • #56,266
  • Feb 25, 2010 4:26pm Feb 25, 2010 4:26pm
Quoting lmturek11
my 4h $/cad chart does not match Jaroo's. do I need to change a seeting on myMT4 platform? I have noticed this with Benjis aud/$ also. Thanks in advance
Hey LM

This is simply b/c different broker have different daily closes which will effect daily bars, and 4hr bars. Forex is not a centralized market thus no centralized time. To get the different bars you would need a broker with that close time.

Price is still price though, it is just aggregated different

Best
Mike
  • #56,267
  • Feb 25, 2010 4:28pm Feb 25, 2010 4:28pm
Quoting michal7
Hi guys, Mike,

I got a pin bar on EURUSD today. First of all this is not an A+ setup for me and even though I have still 3 free bullets this month, I'm not taking it. However for some reason, I think this will work out and here's why I think so:

+it's a very nice shaped pin
+it's protruding round number 1.3500
+off of the very good PPZ I think
+it's near the fib 61
+ we actually have double bottom although this is much more visible on 4h/1h chart

-bar is too small
-lot and lot of troubles in front of it
-NO SPACE until this first trouble areas...
hey Mikey

yeah this would be an easy pass for me. Just a small bar and the real key would be that the nose hasn't protruded away from that last low so close by. That is an easy pass from my method standpoint. I do love the area we are at to watch for trades though

Mike
  • #56,268
  • Feb 25, 2010 4:36pm Feb 25, 2010 4:36pm
Quoting lmturek11
my 4h $/cad chart does not match Jaroo's. do I need to change a seeting on myMT4 platform? I have noticed this with Benjis aud/$ also. Thanks in advance

Quoting mbqb11
Hey LM

This is simply b/c different broker have different daily closes which will effect daily bars, and 4hr bars. Forex is not a centralized market thus no centralized time. To get the different bars you would need a broker with that close time.

Price is still price though, it is just aggregated different

Best
Mike
I look at many different brokers to see Price differently. Mainly its just 2 or 3.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #56,269
  • Feb 25, 2010 4:38pm Feb 25, 2010 4:38pm
Quoting joelcf
The original text is now in the public domain (it was written in 1923, after all) so shouldnt be a problem.
http://ebooks.gutenberg.us/WorldeBoo...nfessstock.htm
...
Free ebooks = less expenses for book freaks
Thanks
  • #56,270
  • Feb 25, 2010 4:43pm Feb 25, 2010 4:43pm
Quoting jarroo
I look at many different brokers to see Price differently. Mainly its just 2 or 3.
good 'broker collection' Sir. but not good enough, lol
im not using my personal PC, (& im very sleepy, lol), but im sure i've got more than that.

but same here, i view mainly a few.
  • #56,271
  • Feb 25, 2010 4:47pm Feb 25, 2010 4:47pm
Quoting supremeChaos
good 'broker collection' Sir. but not good enough, lol
im not using my personal PC, (& im very sleepy, lol), but im sure i've got more than that.

but same here, i view mainly a few.
You can view all feeds with FXAccucharts...just an fyi...PFG BEST used to have them for charting... not sure if they still do however.
  • #56,272
  • Feb 25, 2010 4:50pm Feb 25, 2010 4:50pm
Quoting supremeChaos
good 'broker collection' Sir. but not good enough, lol
im not using my personal PC, (& im very sleepy, lol), but im sure i've got more than that.

but same here, i view mainly a few.
Some have Oil and the like, some have other pairs, etc.

One thing that is interesting is that an A+ setup, I mean the real A+++ ones, show up on most if not all brokers no matter how their aggregated.

Check it out yourself.
Indicators show the past. Price Action "Indicates" the future.
  • #56,273
  • Feb 25, 2010 4:55pm Feb 25, 2010 4:55pm
Quoting jarroo
I look at many different brokers to see Price differently. Mainly its just 2 or 3.
I thought I was bad with 5 accounts. You could practically collapse the entire foreign exchange market with a bad long position
When you have to shoot, shoot. Dont talk.
  • #56,274
  • Feb 25, 2010 4:57pm Feb 25, 2010 4:57pm
hey Jarro,

That's true,. A broker can show you a Pinbar, another different a double Pinbar,.or BUOB but in context is all the same... good Price Action...

Quoting jarroo
Some have Oil and the like, some have other pairs, etc.

One thing that is interesting is that an A+ setup, I mean the real A+++ ones, show up on most if not all brokers no matter how their aggregated.

Check it out yourself.
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #56,275
  • Feb 25, 2010 4:59pm Feb 25, 2010 4:59pm
Quoting joelcf
I thought I was bad with 5 accounts. You could practically collapse the entire foreign exchange market with a bad long position
lol. I don't have an account with these . . just for charting.
Indicators show the past. Price Action "Indicates" the future.
  • #56,276
  • Feb 25, 2010 4:59pm Feb 25, 2010 4:59pm
Quoting benji533
Hey vlazaf,

I believe every single bar low and bar high is their for a reason. That's the reason you see lines on my charts and not rectangle zones. Although pivot zones are zones, the minor pivots, or exact locations where price stalls are more exact than zones. This at least is how I personally see it. But not gonna argue about it.
Open some daily charts, mark the closest bar high and lows and notice how price would react around them in the future. It's really not hard. You can actually predict where price is likely to go in some cases.

Now...
Thanks for that Benji, I was just looking at a certain nuance that triggered a short for me at the dotted line I highlighted on the chart.
I see the switch zone with fib confluence.

Nice trade by the way.
  • #56,277
  • Feb 25, 2010 5:02pm Feb 25, 2010 5:02pm
Quoting Jduester
You can view all feeds with FXAccucharts...just an fyi......
what do u exactly mean by this?
similar to MT4 server files?

Thanks!
  • #56,278
  • Feb 25, 2010 5:03pm Feb 25, 2010 5:03pm
Quoting ikki
hey Jarro,

That's true,. A broker can show you a Pinbar, another different a double Pinbar,.or BUOB but in context is all the same... good Price Action...

Exactly. Just a way of getting more confirmation on a good setup.
Indicators show the past. Price Action "Indicates" the future.
  • #56,279
  • Feb 25, 2010 5:08pm Feb 25, 2010 5:08pm
Quoting jarroo
Some have...
One thing that is interesting is that an A+ setup, I mean the real A+++ ones, show up on most if not all brokers no matter how their aggregated.
Check it out yourself.
Noticed it too, Sir
  • #56,280
  • Feb 25, 2010 5:15pm Feb 25, 2010 5:15pm
Quoting benji533
Thanks Tia.

I should be much more careful with what I post I guess.
I am doing James pure stuff for a while, and this is one of the things I feel are important for his style to be successful. Not because of the fact of higher profits, but because HE KNOWS THAT IF HE WILL BE A GOOD BOY, STANDING ON HIS HANDS LONG ENOUGH, BEING PICKY, PATIENT, DISCIPLINE, AND FOLLOWING HIS OWN RULES, HE WOULD GET REWARDED. I feel like this is like a prize your parents give you if you are a good student at school. If you work hard enough, you'll get X3, but if you...

Great post, Ben. Points 1, 2 and 3.
Indicators show the past. Price Action "Indicates" the future.
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