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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

  • #64,681
  • May 24, 2010 9:05pm May 24, 2010 9:05pm
Quoting g_j_hook@yah
ignore my last post, at least i can post charts again !

i still cant edit the post though but im guessing its my java??

does anyone know how to mt4 from showing me the chart iv saved ???or at least change it to the browser i use??

cheers

jon

I thought . .yeah Price does look like its testing the 1.2300 on the euro. lol

. Sorry can't help you bro.
Indicators show the past. Price Action "Indicates" the future.
  • #64,682
  • May 24, 2010 9:06pm May 24, 2010 9:06pm
Quoting jarroo
I thought . .yeah Price does look like its testing the 1.2300 on the euro. lol

. Sorry can't help you bro.
lol..
PATIENCE... DISCIPLINE
  • #64,683
  • May 24, 2010 9:13pm May 24, 2010 9:13pm
Quoting g_j_hook@yah
ignore my last post, at least i can post charts again !

i still cant edit the post though but im guessing its my java??

does anyone know how to mt4 from showing me the chart iv saved ???or at least change it to the browser i use??

cheers

jon
Hey Jon

Right click the file and go to properties. It should say "opens with" and a change button,

Mike
  • #64,684
  • May 24, 2010 9:35pm May 24, 2010 9:35pm
Quoting g_j_hook@yah
ignore my last post, at least i can post charts again!
i still cant edit the post though but im guessing its my java??
does anyone know how to (....) mt4 from showing me the chart iv saved ???or at least change it to the browser i use??
Hey jon,
still having problems?
more details please..
what platform are u using?
OS - windows XP, etc?
using a smartphone etc?

can u rephrase your above questions? it's a bit unclear. so others may be able to help u better.
  • #64,685
  • May 24, 2010 9:58pm May 24, 2010 9:58pm
Quoting jarroo
I give allowances for PA structure by a few pips due to demo feeds and such. But its usually on the higher time frames (Daily and Weekly).

More importantly, if everything is lining for a high quality setup; Location, supporting confluences, big bars, etc., and the only thing is a few of pips in structure I'll take the setup.



So basically, if circumstances are favorable, you would consider the bar on your chart a Bullish Engulfing bar, instead of a BUEOB.

Thanks Jarroo


Just looking at USD/CHF on longer TF.

H4 seems to be slowing down and faltering at the 1.600 area.
MACD div on D1 & H4
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  • #64,686
  • May 24, 2010 10:20pm May 24, 2010 10:20pm
Quoting g_j_hook@yah
ignore my last post, at least i can post charts again !

i still cant edit the post though but im guessing its my java??

does anyone know how to (...) mt4 from showing me the chart iv saved ???or at least change it to the browser i use??

cheers

jon
"prevent" perhaps?

i think that by default mt4 tries to open the image file with your windows (i gues that you are using windows) default program as soon as you save it, you just have to (like mike said) go to windows, right click the image file and select opens with, then a window appears showing all the programs that can open that kind of image, before you select the program that you want to automatically open your gif files tick the option, something like this:

Attached Image (click to enlarge)
Click to Enlarge Name: Right click.jpg Size: 196 KB


Now select any program you like

Attached Image (click to enlarge)
Click to Enlarge Name: Chose default.jpg Size: 147 KB


hope this helps
  • #64,687
  • May 24, 2010 10:27pm May 24, 2010 10:27pm
Hello Pinbar,
u can call it simply BUOB
BUEOB is a bit redundant (bullish engulfing outside bar).
i believe 'engulfing' & 'outside' mean the same thing.

also, try plotting the MACD divergence on the MACD's blue line rather than on the green histogram. i believe it's more effective.
if u havent noticed yet, u are using a different MACD indicator than the 'usual' one u often see here.
the 'usual' MACD (often seen in this thread) is an MT4 default (histogram with a moving line). that (histogram with a moving line) equates to the blue line & red dotted line in your MACD indicator. put these two MACD indicators on your chart to see what i mean.
[the green histogram in your MACD is just the difference of the blue & red lines]


here are the same charts (H4 - Weekly, FXDD charts) using the 'usual' MACD
Attached Image
Attached Image

Attached Image
  • #64,688
  • May 24, 2010 10:46pm May 24, 2010 10:46pm
Quoting Pinbar
So basically, if circumstances are favorable, you would consider the bar on your chart a Bullish Engulfing bar, instead of a BUEOB.

Thanks Jarroo


Just looking at USD/CHF on longer TF.

H4 seems to be slowing down and faltering at the 1.600 area.
MACD div on D1 & H4
Im in a trade right now on usdchf hoping the price to get to 1.1741 before it goes down, seeing your charts make me think that i might be wrong, that trendline scares me a bit
Attached Image (click to enlarge)
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  • #64,689
  • Edited May 25, 2010 6:26am May 24, 2010 10:58pm | Edited May 25, 2010 6:26am
I just wanted to share something that might seem insignificant to most people on this thread but has drastically improved my trading over the last month.

It's quite simple actually: zooming out.

Using MT4 I zoom out to the second highest level and adjust the length of the chart to my liking. From this viewpoint, the major/significant swing high and swing low points just scream out at you. So once i see a nice swing high or low bar with lots of open space to move, i zoom in a bit to see if there is any price action and more often than not there is.

Its improved my eye for my markets and has made me very selective. Now the markets literally tell me when I should place a trade.

I just wanted to share this with this thread, since it has helped me immensly in my growth as a trader.

Shalom
  • #64,690
  • May 24, 2010 11:11pm May 24, 2010 11:11pm
Quoting supremeChaos
Hello Pinbar,
u can call it simply BUOB
BUEOB is a bit redundant (bullish engulfing outside bar).
i believe 'engulfing' & 'outside' mean the same thing.

also, try plotting the MACD divergence on the MACD's blue line rather than on the green histogram. i believe it's more effective.
if u havent noticed yet, u are using a different MACD indicator than the 'usual' one u often see here.
the 'usual' MACD (often seen in this thread) is an MT4 default (histogram with a moving line). [b]that (histogram with a moving line) equates to the blue...

Many thanks SC....Yes, that New Macd was showing Div on the Daily but the usual MACD is not showing Div on D1 only H4.

Incidentally I read some posts about the MACD in MT4 not being programed correctly and thus false signals exists. That is why I used the new one.

Here is the link to the built in MACD problems http://www.forexfactory.com/showthread.php?t=69409

Is this indeed the case?

Appreciated.
Attached Image (click to enlarge)
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  • #64,691
  • May 24, 2010 11:15pm May 24, 2010 11:15pm
Quoting emiliolopez
Im in a trade right now on usdchf hoping the price to get to 1.1741 before it goes down, seeing your charts make me think that i might be wrong, that trendline scares me a bit
Attachment
Hi emiliolopez,

When did you enter long and what were the reasons for same?

Cheers
Novice198
  • #64,692
  • May 24, 2010 11:22pm May 24, 2010 11:22pm
Quoting BWise
I just wanted to share something that might seem insignificant to most people on this thread but has drastically improved my trading over the last month.
It's quite simple actually: zooming in.
...
Hello BWise,
i think u mean zooming out (making the bars look smaller)?

Keep it up
  • #64,693
  • May 24, 2010 11:27pm May 24, 2010 11:27pm
Quoting Pinbar
Many thanks SC....Yes, that New Macd was showing Div on the Daily but the usual MACD is not showing Div on D1 only H4.

Incidentally I read some posts about the MACD in MT4 not being programed correctly and thus false signals exists. That is why I used the new one.

Here is the link to the built in MACD problems http://www.forexfactory.com/showthread.php?t=69409

Is this indeed the case?

Appreciated.
Hi Pinbar,

I think there is regular bearish divergence on H4 TF for USD CHF as per the attached chart.

Any comments from seniors welcome.

Cheers
Novice198
Attached Image (click to enlarge)
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  • #64,694
  • May 24, 2010 11:28pm May 24, 2010 11:28pm
Quoting emiliolopez
Im in a trade right now on usdchf hoping the price to get to 1.1741 before it goes down, seeing your charts make me think that i might be wrong, that trendline scares me a bit
Attachment

You are braver than I am looking to get in Long near the top of this run up.

Might make it, but I would not hope, I would watch the lower tf PA.

lot of ranging going on in the H1 TF with small candles.
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  • #64,695
  • May 24, 2010 11:30pm May 24, 2010 11:30pm
Quoting novice198
Hi Pinbar,

I think there is regular bearish divergence on H4 TF for USD CHF as per the attached chart.

Any comments from seniors welcome.

Cheers
Novice198


Thanks N

Yes, the chart above is the regular MACD and as you say H4 seems to be showing Bearish Hidden Div.
  • #64,696
  • May 24, 2010 11:39pm May 24, 2010 11:39pm
Quoting Pinbar
Many...
Incidentally I read some posts about the MACD in MT4 not being programed correctly and thus false signals exists. That is why I used the new one.
..
Is this indeed the case?
...
I've read that before.
yes, there seem to be a difference in the code (programming), but not necessarily creating false signals.

you see, we (only) have a visual issue here.
users of either MACDs just need to be aware which is which:
for the 'real' MACD (in your above post's 3 charts), it shows the 2 signal lines (the blue line & red dotted line) AND a histogram (green histogram, which shows the difference between the 2 signal lines)
for the 'usual' MACD, it only has the signal lines which take the form of a line (representing the red line in your MACD) & a histogram (representing the blue line in your MACD)

Hope it is clear now
  • #64,697
  • May 24, 2010 11:44pm May 24, 2010 11:44pm
Quoting Pinbar
Thanks N
Yes, the chart above is the regular MACD and as you say H4 seems to be showing Bearish Hidden Div.
just a small correction:
it's a regular bearish div, not hidden div.
novice198 said it, but u did not 'copy-paste' correctly
  • #64,698
  • May 24, 2010 11:46pm May 24, 2010 11:46pm
If you really want to do yourselves a favor, take the macd/rsi off your charts completely

I keep mine on there to look cool
Many choose unhappiness over uncertainty.
  • #64,699
  • May 24, 2010 11:49pm May 24, 2010 11:49pm
Quoting Dan Gilbert
If you really want to do yourselves a favor, take the macd/rsi off your charts completely

I keep mine on there to look cool

MACD and RSI can be used as confirmation of the PA?
  • #64,700
  • May 24, 2010 11:51pm May 24, 2010 11:51pm
Quoting extraneo
MACD and RSI can be used as confirmation of the PA?
meh... maybe 50% of the time. It can also mislead you the other 50% of the times you use it.
Many choose unhappiness over uncertainty.
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