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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

  • #60,641
  • Apr 11, 2010 8:30pm Apr 11, 2010 8:30pm
Quoting NewinTown22
Hello people!
....
u cant go wrong by reading all of post #1
  • #60,642
  • Apr 11, 2010 9:22pm Apr 11, 2010 9:22pm
Another great site, with a different perspective on stocks, commodities etc.

http://www.finviz.com/futures.ashx - futures

http://www.finviz.com/map.ashx - stock market, you can zoom into an individual stock too, but this is a great too to see what overall market is doing.

Enjoy!
One Chart is Worth Ten Thousand Words.
  • #60,643
  • Apr 11, 2010 10:03pm Apr 11, 2010 10:03pm
Quoting ppfx
someone posted it a month or two ago, dont remember who

anyway here they are: (i saved them in case i get amnesia )

PA - Price Action
PB - Pin bar
BUB - Bullish bar
BEB - Bearish bar
BUOB - Bullish outside bar
BUOVB - Bullish outside vertical bar !!?? BUOVB - Bullish OutsideOverbought Bar (not sure which one is right)
BEOB - Bearish outside bar
BEOVB - Bearish outside vertical bar !!?? BEOVB - Bearish OutsideOversold Bar (not sure which one is right)
IB - Inside bar
NB - Neutral bar
DBLHC - Double bar low with higher close
TBLHC...

Many Thanks!

TJCNY
  • #60,644
  • Apr 11, 2010 10:20pm Apr 11, 2010 10:20pm
Quoting g_j_hook@yah
heres a nice looking IPB,RN,50%fib, PPZ, strong downtrend, the gap would add confluence for me also.(could even throw in a TL) i wonder how Ghous would see this situation??
if it closes below the open price it will be a perfect IPB imo

jon
I would worry taking a trade into the empty region below. The other confluences are valid of course, but then I don't play gaps, so no question of stacking it as a favorable odd and going ahead with the trade (for me)

g.
I believe . . .
  • #60,645
  • Apr 11, 2010 11:59pm Apr 11, 2010 11:59pm
Quoting deltatrade
Mike do you know why oanda never has any gaps?
common mike this one is easy
  • #60,646
  • Apr 12, 2010 12:15am Apr 12, 2010 12:15am
Quoting 4X=0
common mike this one is easy
yes its cause they are never technically closed as opposed to other brokers that shut down for the weekend. Forex is a 24/7 market technically. So what you see as a gap is still movement in price just happens when your broker is "closed" But even with that said I have seen gaps on Oanda, those are my favorite.

And it's easier just to answer the question it's a fine line bud
  • #60,647
  • Apr 12, 2010 12:26am Apr 12, 2010 12:26am
Quoting mbqb11
yes its cause they are never technically closed as opposed to other brokers that shut down for the weekend. Forex is a 24/7 market technically. But even with that said I have seen gaps on Oanda, those are my fav.

And it's easier just to answer the question the be a tough guy
No that was great. Here is an image of the settings. Hope that helps and welcome new guy.
Attached Image
  • #60,648
  • Apr 12, 2010 1:14am Apr 12, 2010 1:14am
Quoting Fxnumen
It's the 0.618 Fib Retracement of the PIN bar. "Seeking Light" likes placing his entry order there as the market usually rets to .618 or .50.

See the attached chart. Cheers

Thanks!
  • #60,649
  • Apr 12, 2010 1:26am Apr 12, 2010 1:26am
"Project shotgun" on the demo UPDATE:
Attached Image
Many choose unhappiness over uncertainty.
  • #60,650
  • Apr 12, 2010 2:10am Apr 12, 2010 2:10am
Just look at this .
.
Beautiful.
.
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  • #60,651
  • Apr 12, 2010 2:26am Apr 12, 2010 2:26am
Btw can anyone comment/describe those GAP OPENING candles that i highlighted with my RED ARROWS?

I see alot of them working in stocks. So is there a way to qualify (like we we pick our conventional PA) them for trading or just ignoring them??
Thanks.
.
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  • #60,652
  • Apr 12, 2010 2:50am Apr 12, 2010 2:50am
Good morning guys!!

Here's the update to my CHFJPY trade from friday...

Half closed some minutes ago...anf half at BE+1
Attached Image (click to enlarge)
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Market is like a puzzle, YOU have to fit the pieces!!
  • #60,653
  • Apr 12, 2010 2:51am Apr 12, 2010 2:51am
hi

placed my first demo order on friday on the eur/jpy. Put a buy stop at 125.81. Just woke up and there is a gap? How does it work. Why isnt the open as same as the close? (Typical Newbie Question) Moved my SL to 127
  • #60,654
  • Apr 12, 2010 3:52am Apr 12, 2010 3:52am
Quoting Chris_B
Good morning guys!!

Here's the update to my CHFJPY trade from friday...

Half closed some minutes ago...anf half at BE+1
chris

well done man,

i took Fiber, Geppy and CHF pins on friday as they were all good setups in my opinion. Set modest targets and have achieved them, out for 4%(demo). Was a bit frustrated earlier in the week for missing a good trade but as james and mike say, it's good to wait and be patient and the trades will come!

berti
PA is where its at!!
  • #60,655
  • Apr 12, 2010 3:53am Apr 12, 2010 3:53am
Quoting Dan Gilbert
"Project shotgun" on the demo UPDATE:
Hi dan

just wanted to ask if your AUd/NzD daily trade setup was taken as an Ib4 trade?
PA is where its at!!
  • #60,656
  • Apr 12, 2010 4:15am Apr 12, 2010 4:15am
hey guys
I have a question, the market opens with a big gap..
on the 4th hour char there is a beob.. next bar retraces 61.5%... if i check the hourly char there is 2 inside bars going on, in theory that means the pa suggests take a short position right? oh, also the beob went up till a resistance level before that.. if this analogy is correct, what would be a proper limit/stoploss entries? (Also, the market have to retrace the gap right?)
  • #60,657
  • Apr 12, 2010 4:34am Apr 12, 2010 4:34am
Hi guys

Anyone on this daily GB/CHF pin? Pin off of BRN and with the lonng -term daily trend, and with space? First target 1.6220 area.
PA is where its at!!
  • #60,658
  • Apr 12, 2010 4:36am Apr 12, 2010 4:36am
chart!
Attached Image (click to enlarge)
Click to Enlarge Name: vt120410.jpg Size: 125 KB
PA is where its at!!
  • #60,659
  • Apr 12, 2010 4:43am Apr 12, 2010 4:43am
Quote
It looks good and the strong confluences you mention sure makes the location great. But because of the gap there is missing data or information about the true structure of the IPB, like the Open and Close within the previous bar, could it possibly be an Inside Bar, etc.

It may work out just fine, jon, but due to the missing info I would let it pass and watch how it works out. http://cdn.forexfactory.com/images/s...m/thumbsup.gif

Quote
I would worry taking a trade into the empty region below. The other confluences are valid of course, but then I don't play gaps, so no question of stacking it as a favorable odd and going ahead with the trade (for me)

g.

thanx guys, i was wondering about the gap and how you would see it.
in the end it didnt close an IPB anyway so no probs.

cheers

jon
PATIENCE... DISCIPLINE
  • #60,660
  • Apr 12, 2010 4:48am Apr 12, 2010 4:48am
Quoting NewinTown22
hey guys
I have a question, the market opens with a big gap..
on the 4th hour char there is a beob.. next bar retraces 61.5%... if i check the hourly char there is 2 inside bars going on, in theory that means the pa suggests take a short position right? oh, also the beob went up till a resistance level before that.. if this analogy is correct, what would be a proper limit/stoploss entries? (Also, the market have to retrace the gap right?)
hi mate, not sure what you are askin here but be carfull of the gaps, they done HAVE to close and if they do it could be anytime.
the way most of us play these PA bars is to wait for the break of the bar. 1h bars can be very missleading.
hope this helps

jon
PATIENCE... DISCIPLINE
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