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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

  • #61,421
  • Apr 20, 2010 4:05pm Apr 20, 2010 4:05pm
Quoting jarroo
Once you set the parameters in ema1, then you click on the EMA button on the workstation. That should do it. You can have different settings at ema2, ema3, ema 4 and ema 5.


(Cheers jon. )
For some reason the java/web version is different but thanks ill try this out when i get home
  • #61,422
  • Apr 20, 2010 4:06pm Apr 20, 2010 4:06pm
Quoting g_j_hook@yah
thanx Jarroo, you beat me too it!

jon

EDIT:

why not use mt4?? its probably the best free charts out there imo.
jon
Is ther a mt4 web version?
  • #61,423
  • Apr 20, 2010 4:15pm Apr 20, 2010 4:15pm
Quoting NewinTown22
Is ther a mt4 web version?
i don't believe so.
PATIENCE... DISCIPLINE
  • #61,424
  • Apr 20, 2010 4:25pm Apr 20, 2010 4:25pm
Quoting jarroo
Another way of looking at PPZ levels is using the line chart at the Close. PPZ levels are best at the High/Lows, but the line chart can give a different look that can add a bit more strength to level. Add also some confluences to the mix and the level looks even stronger. The two lines represent the Closes where they meet very closely, the closer the better.
Thanks for the explanation, Jarroo.
  • #61,425
  • Apr 20, 2010 5:37pm Apr 20, 2010 5:37pm
I have a question regarding TB bars...
As for what i understand so fa DBHLC, DBLHC and Pin Bars are best played on extremes (Pivots, RES/SUP levels /fib conflu/other ind) but what about trend breakouts? I'm having trouble spotting what you would call a quaility trade A TB.
Thanks guys
  • #61,426
  • Apr 20, 2010 5:45pm Apr 20, 2010 5:45pm
Quoting NewinTown22
I have a question regarding TB bars...
As for what i understand so fa DBHLC, DBLHC and Pin Bars are best played on extremes (Pivots, RES/SUP levels /fib conflu/other ind) but what about trend breakouts? I'm having trouble spotting what you would call a quaility trade A TB.
Thanks guys
Bars themselves can be played at any place pending the right "situation" unfolds.

Here is an example of a continuation BUOB which is what I assume you mean as trend breakouts. Notice the box of consolidation and the bars ability to test the low of the entire consolidation and then close near the very top of the range and ABOVE the ppz of 125.


Mike
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  • #61,427
  • Apr 20, 2010 6:37pm Apr 20, 2010 6:37pm
Quoting Scotty2Cues
please help lol. 3rd demo trade and the second time its happened...
u are doing great Scotty.
would u rather have a losing trade than a BE?
also, u are still finding your way/style.
dont be too hard on yourself (like i was/still am)
  • #61,428
  • Apr 20, 2010 7:20pm Apr 20, 2010 7:20pm
Question about spreads: Like many of you I liked the setup on Usd/Cad. I placed a sell order at 1.0125, TP at 1.0090 and SL at 1.0165. Well my SL got triggered but my platform shows price only reaced 1.0162. I realize that price would have had to reach my TP + spread before my TP would trigger, but whats up with the SL?
  • #61,429
  • Apr 20, 2010 7:32pm Apr 20, 2010 7:32pm
Quoting spookie94
Question about spreads: Like many of you I liked the setup on Usd/Cad. I placed a sell order at 1.0125, TP at 1.0090 and SL at 1.0165. Well my SL got triggered but my platform shows price only reaced 1.0162. I realize that price would have had to reach my TP + spread before my TP would trigger, but whats up with the SL?

It's the same with SL. In this case if your chart's price reaches SL-spread, your SL is triggered. Hope that helps

CY

Edit: I think you must have meant TP- spread before TP would be triggered, not +
  • #61,430
  • Apr 20, 2010 7:34pm Apr 20, 2010 7:34pm
Quoting mbqb11
Bars themselves can be played at any place pending the right "situation" unfolds.

Here is an example of a continuation BUOB which is what I assume you mean as trend breakouts. Notice the box of consolidation and the bars ability to test the low of the entire consolidation and then close near the very top of the range and ABOVE the ppz of 125.


Mike
Thanks man
  • #61,431
  • Apr 20, 2010 7:54pm Apr 20, 2010 7:54pm
Quoting ertorque
It's the same with SL. In this case if your chart's price reaches SL-spread, your SL is triggered. Hope that helps

CY

Edit: I think you must have meant TP- spread before TP would be triggered, not +
Thats what I figured. Just never had it happen like that yet. Have watch some pairs get within 1 pip of SL and never trigger. Good thing it was only a demo, would have been ticked. Thanks for response.
  • #61,432
  • Apr 20, 2010 8:18pm Apr 20, 2010 8:18pm
New to the thread and forex (1 month of research and some demo) trying to absorb a lot of info...very good chance I'll be signing up for J16 in the near future...Guest material is OUTSTANDING!!!!

Anyway, trying to get some of the basics of PA down. When I look at USD/CHF daily I believe I see a DBHLC on April 14/15 which would indicate price likely to go up. On April 18/19 it looks to me like a BUOVB - indicating price should continue to go up. I also have 1.0638 noted as the March Central Pivot (which would be support).

A couple questions:
1) Am I seeing the PA Bars correctly?
2) I searched site for how to post charts with no luck - and would love to post this one for the experts to look at. if someone could please point me in that direction for this or future observations??
3) I know market is sideways, but would this be a potential J16 setup to take a few Pips out of the market?

Donkey
  • #61,433
  • Edited 9:18pm Apr 20, 2010 8:53pm | Edited 9:18pm
Quoting spookie94
Thats what I figured. Just never had it happen like that yet. Have watch some pairs get within 1 pip of SL and never trigger. Good thing it was only a demo, would have been ticked. Thanks for response.
Spooks,

Keep in mind that some dodgier brokers will use the bid/ask (both!!) prices to trigger conditional orders, while others will use the actual tape (executed) prices (which is easier to see on a chart).

I'm rarely greedy with my TPs now. When I used to try and keep my stops too tight I'd get caught out like with the dodgey hits like that. I find it's better to give better buffers.
Bundy's status today: "Waiting..."
  • #61,434
  • Apr 20, 2010 9:19pm Apr 20, 2010 9:19pm
Quoting Donkey
New to the thread and forex (1 month of research and some demo) trying to absorb a lot of info...very good chance I'll be signing up for J16 in the near future...Guest material is OUTSTANDING!!!!

Anyway, trying to get some of the basics of PA down....
Hey Donkey welcome to our little thread

On my chart(which may look different then yours if you have a different daily closing time). The DBLHC is one but notice how the close was near the middle of the bar , ideally we want it higher up but off a really nice area there. As for the BUOB I am guessing you mean yesterdays bar which was 4/20? This bar is close to being a buob but on my feed it did not have a higehr higher then the previous bar so technically does not qualify. I put arrows under the two setups I believe you are reffering too.

As for saving a chart, if you are on mt4. Right click the chart the click save as picture. THe select active chart(as is). Save it to your computer somehwere you can find it. Then under the submit reply button there is a button called manage attachments. Find your file , upload and you are all set.


Hope this helps
Mike
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  • #61,435
  • Apr 20, 2010 9:38pm Apr 20, 2010 9:38pm
Quoting mbqb11
Hey Donkey welcome to our little thread

On my chart(which may look different then yours if you have a different daily closing time)....
Hey Mike,

...you missed the bars when you drew your trend line.
Bundy's status today: "Waiting..."
  • #61,436
  • Apr 20, 2010 9:39pm Apr 20, 2010 9:39pm
Quoting bundyraider
Hey Mike,

...you missed the bars when you drew your trend line.
rofl

dang I am still learning how to draw them
  • #61,437
  • Apr 20, 2010 9:51pm Apr 20, 2010 9:51pm
Quoting bundyraider
..
...you missed the bars when you drew your trend line.
no, it must be a TL for a different timeframe.
  • #61,438
  • Apr 20, 2010 9:55pm Apr 20, 2010 9:55pm
Quoting mbqb11
rofl

dang I am still learning how to draw them
I know, I know. Don't have to hide it. We all understand mate.

I think beers good too!

It's the reason I get up every afternoon.
Bundy's status today: "Waiting..."
  • #61,439
  • Apr 20, 2010 10:08pm Apr 20, 2010 10:08pm
Quoting jarroo
I see your point and its a valid one.

Example Usd/Chf weekly bullish PB (Jan.2010) Not a bad PB, could be better.

Price hits its targets and then continues upwards.

Moving to the Daily charts we see a bearish PB, would it be wrong to exit the weekly bullish PB based on the Daily bearish PB. Absolutely not, this is your point, correct?
But as we see the Daily PB hits its own target and then continues upward.
This is just from the weekly to the daily, not a bad way to go. But from the Daily to the 15M or Hourly you can see that PA...

Thanks for the responses Jon, Jarroo and Mike. Very good explanations.
Cap
  • #61,440
  • Apr 20, 2010 11:07pm Apr 20, 2010 11:07pm
Time Frame - H1
Swing low

Will be hitting 1.3450 but off 1.3400

FTA - 1.3450 ?

Anyone plannig to take it ?
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