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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

  • #57,421
  • Mar 7, 2010 5:01am Mar 7, 2010 5:01am
Quoting benem
http://www.youtube.com/watch?v=P7DygPsJ_sA

Just be careful during your flight.....look out.....


Go to 3:30 and enjoy......
Interesting... Air Traffic Control made an obvious mistake there.

In almost all the countries in the world, eastbound traffic (heading between 360 and 180) are assigned odd flight levels (e.g. 35,000 or 37,000 feet), while westbound traffic (heading between 180 and 360) are assigned even flight levels.

In Italy however, they discriminate between northbound (even levels) and southbound (odd levels) traffic. Initially, the fighter was flying heading 070, so northbound (between heading 270 and 090), and should indeed have been flying at an even flight level, such as 36,000 feet. But after contacting Rome, he turned right to heading 160, which is southbound (or between heading 090 and 270), so he also had to have been given an odd flight level, such as 35,000 or 37,000 feet.

Dumb mistake by ATC.
It's not about how much you make, it's about how much you don't lose.
  • #57,422
  • Mar 7, 2010 5:20am Mar 7, 2010 5:20am
hi guys, has anyone had any problems with using mt4 indis on mt5?? half of mine dont seem to be recognized!!?? does anyone have the spaced lines indi workin ?? my templates wont cross over either!!?? is this normal??

cheers

jon
PATIENCE... DISCIPLINE
  • #57,423
  • Mar 7, 2010 5:56am Mar 7, 2010 5:56am
Quoting g_j_hook@yah
hi guys, has anyone had any problems with using mt4 indis on mt5??...
i think it's normal.
all/most MT4 indicators may need some conversion (or revision in the MT4 indicator code) to be able to run in MT5.
probably in a few months u will see MT5-ready indicators posted here in FF. we just need to wait
  • #57,424
  • Mar 7, 2010 5:56am Mar 7, 2010 5:56am
Some insights about what is happening on cable.

Lets go a step further up to understand how price have manage to get where is today.For this purpose lets look at weekly chart and go step by step in to price behavior.

We can observe that cable was playing for several weeks in a ranging market without any clear direction but at one point buyers and sellers where out of balance and break downside,this was a clear signal
that bears have taken control of the market,and from where do we know this?She break dowside and close well below the range this was the first signal. The confirmation comes 2 candel after that when we have
a retest of the lower bonder of the range market and a cleary rejection of that level.
I have talk about it in this post: http://www.forexfactory.com/showpost...ostcount=56169 (some additionale notes in chart2)

Markets are about price and support and resistance,if we whould new that we whould expected that rejection(old support becoming new resistance).

We as a human beings for some reasons try to overcomplicate thinks and forget that simple things (and the basics priciples of price movements) will always outperform any sophisticated system.

I always look back to see from where price comes when I take a setup,it helps me in making the decision if I pull the trigger or not.


Now our price action is at a very psihological level:
-BRN 1.5
-PPZ
-50-61.8fib
-we have space (remember mike's video about pick up a cherry)
-look where is the first trouble area from where it may be a probability that price will reverse

enjoy it

all the best!!!

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  • #57,425
  • Mar 7, 2010 6:01am Mar 7, 2010 6:01am
here is another one that I want to talk about,I will talk less than in my last post.

The charts will be self explanatory.

The first problem area whoul be .8835 a strong pivot point which was proven in the past.

all the best!!

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  • #57,426
  • Mar 7, 2010 6:38am Mar 7, 2010 6:38am
Quoting raczekfx
I think it's time to close this swing, what do you think...?
... or don't think
.
... Awesome Sir
i bet u have simultaneous longs & shorts

...are u willing to take in a retracement up to (possibly) 1.5250 - 1.54 area?
if yes, the swing is still on
Let's see if that is a pause PB... &/or trying to summon more 'sacrifices' prior another downmove
  • #57,427
  • Mar 7, 2010 7:08am Mar 7, 2010 7:08am
USDCHF

very nice ranging market,I was in many of this setups along the way,James says in his vidos if you can't consistently profitable or BE on ranging market you have zero chance in this business,look at charts aren't they DIRTY SIMPLE.

I whould love that market will be all the day like this,not that I don't like a trading market but I exploit both type of the market(ranging and trading).

lets go a step further and look at the chart

At the first red arrow we have a nice PB,with a cleary rejection off of support level,this could be manage in several ways so I would not digging in the manage side of a trade,lets suppose that at first critical area we would take partial profit and move the rest at BE, we would have a winning trade.

Second PA- a nice BUOB with a nice break out "A high probability setup is a high momentum setup" jaroo thanks,this one was easily to manage you could trail your stop,we would have a second winning trade.

Next one a BEOB(although the close isn't below last candel low) at clear swing high point, you could ride it till the first critical point spoted and from there moveing to BE with the second half of your trade,the 3th winning trade.

PB in a good shape but I whould like to see the tail more in to the highs to the left, on this one we whould take a loss,price almost reached our first critical spoted area and reversed taken us out

The last one is IB right off of the lower border of the ranging market,and it work out till the first critical area where we would take partial profits and move the rest to BE,so a winning trade.

Overall we will have 3 winning trades, nicely done.

Althought there are others opportunities for a good scalp I don't talk about them.

Now I think that markets will break sooner or later this ranging market,and we may anticipate a break down words,why I think it will break lower?

bear with me:

market have tested the upper border for the 3th time being rejected each time which is speaking us that the bulls haven't the necessary strength to break that barrier so bears are more in control of the market.Price is making HL and LL and a clear 123 pattern have been developed which can give us more clues where it would heading,we whould see it next week.

all the best!!

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  • #57,428
  • Mar 7, 2010 8:34am Mar 7, 2010 8:34am
Quoting triger88990
USDCHF

very nice ranging market,I was in many of this setups along the way,James says in his vidos if you can't consistently profitable or BE on ranging market you have zero chance in this business,look at charts aren't they DIRTY SIMPLE.

I whould love that market will be all the day like this,not that I don't like a trading market but I exploit both type of the market(ranging and trading).

lets go a step further and look at the chart

At the first red arrow we have a nice PB,with a cleary rejection off of support level,this could...
Nice summaries. Thanks Trig
  • #57,429
  • Mar 7, 2010 9:17am Mar 7, 2010 9:17am
Quoting Dhb
Interesting... Air Traffic Control made an obvious mistake there.

In almost all the countries in the world, eastbound traffic (heading between 360 and 180) are assigned odd flight levels (e.g. 35,000 or 37,000 feet), while westbound traffic (heading between 180 and 360) are assigned even flight levels.

In Italy however, they discriminate between northbound (even levels) and southbound (odd levels) traffic. Initially, the fighter was flying heading 070, so northbound (between heading 270 and 090), and should indeed have been flying at an even...
Yes dumb mistake of my colleague....it happen sometimes .

Ps

I'm reading the thread you pointed out a while ago by Trader Dante on trade2win: http://www.trade2win.com/boards/firs...y-trading.html

It's really a good one.....is TD also a member of Forex Factory??

Thanks
Patience is essential
  • #57,430
  • Mar 7, 2010 10:06am Mar 7, 2010 10:06am
Quoting KissFan
Master this "free" material and you will find yourself on a road traveled by very few people. "Free" in quotes? I did that because I wanted to make a distinction. This material is free to read and digest except the costs involved with the hardware/software and connection required to access it. Barring the afore written contention, there is no more "free" material.
I have just finished trading this week and have never finished a period more rewarding during my trading career (since Nov 10, 2009). The account grew at an astounding clip...

Great post Roger. Well done.
Indicators show the past. Price Action "Indicates" the future.
  • #57,431
  • Mar 7, 2010 10:18am Mar 7, 2010 10:18am
strange looking to me, but hey..
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  • #57,432
  • Mar 7, 2010 10:19am Mar 7, 2010 10:19am
Quoting 4X=0
strange looking to me, but hey..

AUDJPY DAILY
  • #57,433
  • Mar 7, 2010 10:26am Mar 7, 2010 10:26am
Quoting benem
Yes dumb mistake of my colleague....it happen sometimes .

Ps

I'm reading the thread you pointed out a while ago by Trader Dante on trade2win: http://www.trade2win.com/boards/firs...y-trading.html

It's really a good one.....is TD also a member of Forex Factory??

Thanks
I think he's called thewizard over here but I'm not 100% sure
  • #57,434
  • Mar 7, 2010 10:36am Mar 7, 2010 10:36am
Quoting o990l6mh
I think he's called thewizard over here but I'm not 100% sure
Patience is essential
  • #57,435
  • Mar 7, 2010 10:39am Mar 7, 2010 10:39am
Just noticed this on Usd/Cad...price is at the bottom of a congestion on a daily time frame and on the 4h tf as formed a Pin Bar with a bullish div on rsi.....i think it worth to have a look on how price behave on the openig hours...
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Patience is essential
  • #57,436
  • Mar 7, 2010 10:40am Mar 7, 2010 10:40am
o990|6mh is right, Benem. Here, he's called the_wizard.
It's not about how much you make, it's about how much you don't lose.
  • #57,437
  • Mar 7, 2010 10:47am Mar 7, 2010 10:47am
Quoting Dhb
o990|6mh is right, Benem. Here, he's called the_wizard.
Ok ....i've found him.....cheers.
Patience is essential
  • #57,438
  • Edited 9:28pm Mar 7, 2010 10:51am | Edited 9:28pm
Quoting Prof Hunter
Jim! (And other IB lovers)
On EG, a potential double IB developing.
Opinions?
It developed nicely. Eur/Gbp Daily Double Inside bar.

Not a bad break, with a confirming retest of the break, after the 1st target hit. These are great Price confirmations that tell me that the setup is correct. Harder breaks and no retest (of the break), are better confirmations.

Just in time for the Weekly PB that I've seen posted.
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Indicators show the past. Price Action "Indicates" the future.
  • #57,439
  • Mar 7, 2010 11:07am Mar 7, 2010 11:07am
I've been looking at the GBPUSD using James system. I'm a bit unsure here and looking for some help. Are you guys seeing what I'm seeing. Have I done this right?

There looks to be a pin bar formed on the Weekly chart of the GBPUSD pair. However it looks to have closed right below a confluence level. Should I stay out of this trade because I would be trading into a resistance area? Or should I open long at 52130 and go to breakeven at 5243 and let the trade go from there?

I'm just trying to get a handle on this system. Any help would be appreciated. Thanks.

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  • #57,440
  • Mar 7, 2010 11:09am Mar 7, 2010 11:09am
Quoting supremeChaos
i bet u have simultaneous longs & shorts
I treat each timeframe independently. Weekly trades don't interfere with 1hr tf, intra day and vice versa.

retrace? not sure atm, don't have trading computers on yet.
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