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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

  • #66,941
  • Jun 22, 2010 5:12am Jun 22, 2010 5:12am
Quoting jarroo
Oh . .I see now. Yeah that doesn't qualify. I would stick to New York time if you can.
Really??

Niall Fuller in Australia uses New York time. He makes a special comment on this. But I think what he is saying is if you are following me then we should be looking at the same charts. He seems to imply the set ups on this time zone chart are better and I assume he has tested it out.

I would be really interested in the consensus opinion on the time. I think I can change the closing times on my platform.
The bars can look very different depending on the time zone you use.

If you are US based you may favour Eastern Time.

I would be very interested to know what is best. There will be a best.
I know James has said use what you have but the reality is there will be a best. The BEOB is not there for me in the UK - but it worked out. Now whether it work out because of this is debatable.

I am interested to know if anyone has back tested this or has seen research evidence.
  • #66,942
  • Jun 22, 2010 5:14am Jun 22, 2010 5:14am
Quoting jarroo
I'm going to start call you Rac-datogio-zek

Very nice.
Thanks for compliment brother
  • #66,943
  • Jun 22, 2010 5:15am Jun 22, 2010 5:15am
Quoting six gun
Really??

Niall Fuller in Australia uses New York time.

I would be really interested in the consensus opinion on the time. I think I can change the closing times on my platform.
The bars can look very different depending on the time zone you use.

If you are US based you may favour Eastern Time.

I would be very interested to know what is best. There will be a best.
I know James has said use what you have but the reality is there will be a best. The BEOB is not there for me in the UK - but it worked out. Now whether it work out because of this...

Mike use Fxpro . . James16 uses IBFX . . I use both.
Indicators show the past. Price Action "Indicates" the future.
  • #66,944
  • Jun 22, 2010 5:18am Jun 22, 2010 5:18am
Quoting jarroo
Mike use Fxpro . . James16 uses IBFX . . I use both.
Jarroo - not the platform, the time zone.

A 4H candle on GMT+1 will not look the same at a 4H candle on GMT+3.
It will only look the same as GMT-3, GMT+5 etc.

The daily BEOB candle did not look the same for London time and New York time.

This is pretty fundamental really.
It would be best if we could say NY or London time was the best for setups.
Somewhere in the middle of the Atlantic or outer Mongolia is fine with me as long as it is proven to be the best one for setups using the methods employed by J16.
We should be looking at the same charts formations.
Singing from the same hymn sheet so to speak.
  • #66,945
  • Jun 22, 2010 5:18am Jun 22, 2010 5:18am
Quoting datogio
Thanks for compliment brother

I see those alot . .but it usually after the fact. lol

I'm getting better though. Post more of those datogio, (even after the fact) they're works of art in my book.

Indicators show the past. Price Action "Indicates" the future.
  • #66,946
  • Jun 22, 2010 5:21am Jun 22, 2010 5:21am
Quoting six gun
Jarroo - not the platform, the time zone.

A 4H candle on GMT+1 will not look the same at a 4H candle on GMT+3.
It will only look the same as GMT-3, GMT+5 etc.

The daily BEOB candle did not close at the same for London time and New York time.

Ok I see.

Wait a mintute . .how can last Friday's bar on your chart be so big . . . it was a very thin day, market wise?


That's Friday's bar on your chart, six gun.
Indicators show the past. Price Action "Indicates" the future.
  • #66,947
  • Jun 22, 2010 5:25am Jun 22, 2010 5:25am
Quoting six gun
I would be really interested in the consensus opinion on the time. I think I can change the closing times on my platform.
The bars can look very different depending on the time zone you use.

I am interested to know if anyone has back tested this or has seen research evidence.
Somewhere between marketkaratekid and marketninja, you realise that timezones dont really matter and the charts say the same thing

Most like to use NY close, which makes sense - the Sydney/HK/Tokyo/etc sessions can essentially be viewed the same way as after hours trading since the volume is so low.

There is no 'professional' consensus, if thats what you are worried about. Dealers use the timezone of whatever session they are trading.
When you have to shoot, shoot. Dont talk.
  • #66,948
  • Jun 22, 2010 5:25am Jun 22, 2010 5:25am
Quoting jarroo
I see those alot . .but it usually after the fact. lol

I'm getting better though. Post more of those datogio, (even after the fact) they're works of art in my book.

I'll do my best, but sometimes I hesitate don't want to make any harm to newcomers.
  • #66,949
  • Jun 22, 2010 5:26am Jun 22, 2010 5:26am
Quoting jarroo
Ok I see.

Wait a mintute . .how can last Friday's bar on your chart be so big . . . it was a very thin day, market wise?


That's Friday's bar on your chart, six gun.
This is the chart with GFT based on GMT +1.

Plenty of people are running GMT+1.
What do other people see on their GMT+1 charts for EUR/USD.sb?

If my charts are all cocked up I need to know.
If they are the same as every other trader sat in the UK then we should discuss standardisation of our charts.
  • #66,950
  • Jun 22, 2010 5:26am Jun 22, 2010 5:26am
Quoting datogio
I'll do my best, but sometimes I hesitate don't want to make any harm to newcomers.

Understandable bro . . I'll smooth them out. . no worries
Indicators show the past. Price Action "Indicates" the future.
  • #66,951
  • Jun 22, 2010 5:27am Jun 22, 2010 5:27am
Nice trade and entry datogio!
  • #66,952
  • Jun 22, 2010 5:29am Jun 22, 2010 5:29am
Quoting joelcf
Somewhere between marketkaratekid and marketninja, you realise that timezones dont really matter and the charts say the same thing

There is no 'professional' consensus, if thats what you are worried about. Dealers use the timezone of whatever session they are trading.
OK but if we are using pin bars and inside outside bars these WILL look different depending on the closing times of the candles. They will look very different in some cases.
There WILL be a best set up - if there are two variables it would be unusual for the result to be identical.
I will try to find out with Mr Google.
  • #66,953
  • Jun 22, 2010 5:31am Jun 22, 2010 5:31am
Quoting six gun
This is the chart with GFT based on GMT +1.

Plenty of people are running GMT+1.
What do other people see on their GMT+1 charts for EUR/USD.sb?

If my charts are all cocked up I need to know.
If they are the same as every other trader sat in the UK then we should discuss standardisation of our charts.

The same as the IBFX Euro chart I posted but with a Sunday bar. Yours is the same but with no Sunday bar.
Indicators show the past. Price Action "Indicates" the future.
  • #66,954
  • Jun 22, 2010 5:33am Jun 22, 2010 5:33am
Quoting six gun
OK but if we are using pin bars and inside outside bars these WILL look different depending on the closing times of the candles. They will look very different in some cases.
There WILL be a best set up - if there are two variables it would be unusual for the result to be identical.
I will try to find out with Mr Google.
It isnt like trading is done in discrete 24h intervals. It's a continuous flow. And you might see a pinbar whereas I see a DBHLC. Or a BEOB. Or whatever. They are all the exact same information, just different abstractions of it.

There isnt a 'best setup' if we are both looking at the same information. Opens and closes are largely meaningless, because everyone is looking at different charts anyways.

Very different from equities or futures.
When you have to shoot, shoot. Dont talk.
  • #66,955
  • Jun 22, 2010 5:35am Jun 22, 2010 5:35am
Quoting jarroo
The same as the IBFX Euro chart but with a Sunday bar. Yours is the same but with no Sunday bar.
Ah I am a dick head. The little bar is Friday not Sunday.
I do get Sunday candles but not on my daily charts.

Well that makes order flow sense.
Thursday is bulls day.
Friday is doji day
Monday the bears take over and they are still in command.

Will keep looking for the best closing time - the question is asked on the Factory but no clear answer so far, one poster says he's asked around but no-one can answer him.
  • #66,956
  • Jun 22, 2010 5:37am Jun 22, 2010 5:37am
Quoting six gun
Ah I am a dick head. The little bar is Friday not Sunday.
I do get Sunday candles but not on my daily charts.

Well that makes order flow sense.
Thursday is bulls day.
Friday is doji day
Monday the bears take over and they are still in command.

Will keep looking for the best closing time - the question is asked on the Factory but no clear answer so far, one poster says he's asked around but no-one can answer him.

lol


I like the 5:OO PM EST Close.
Indicators show the past. Price Action "Indicates" the future.
  • #66,957
  • Jun 22, 2010 5:43am Jun 22, 2010 5:43am
Quoting joelcf
It isnt like trading is done in discrete 24h intervals. It's a continuous flow. And you might see a pinbar whereas I see a DBHLC. Or a BEOB. Or whatever. They are all the exact same information, just different abstractions of it.

There isnt a 'best setup' if we are both looking at the same information. Opens and closes are largely meaningless, because everyone is looking at different charts anyways.

Very different from equities or futures.
We both have three pieces of wood. They is 6 metres of wood.
We both have the same amount of wood.

Yours are all 2 metres long.
I have a piece of wood that is 2m long and then one that is 1m and the last 3 metres.

I get the drift - we are judging changes in sentiment.
Martin Pring looked at the charts to see if there were bar patterns which indicated a reliable change in market sentiment.
So my candle is your BUOB and his Double low high close.

But for a true DHLC it has to be pip perfect - so closing time will influence this.
The closing time does influence the bar appearance and the set ups.
Might be useful to switch between London and NY to see if there is confluence of set up.
That will be another level of confluence - I will claim that, SG Confluence!
LOL
But it is an interesting and potentially important level of confluence.
  • #66,958
  • Jun 22, 2010 5:46am Jun 22, 2010 5:46am
My time zone is GMT+8 and my daily bar starts at 5AM here. I think the PA daily bars still work as they are supposed to be, most of the times. I'm using FXOpen.
  • #66,959
  • Jun 22, 2010 5:47am Jun 22, 2010 5:47am
Quoting six gun
We both have three pieces of wood. They is 6 metres of wood.
We both have the same amount of wood.

Yours are all 2 metres long.
I have a piece of wood that is 2m long and then one that is 1m and the last 3 metres.

I get the drift - we are judging changes in sentiment.
Martin Pring looked at the charts to see if there were bar patterns which indicated a reliable change in market sentiment.
So my candle is your BUOB and his Double low high close.

But for a true DHLC it has to be pip perfect - so closing time will influence this.
The closing...

You'll see the A+ setups . .the true A+ setups . . .on all feeds many times my friend.
Indicators show the past. Price Action "Indicates" the future.
  • #66,960
  • Jun 22, 2010 5:49am Jun 22, 2010 5:49am
Quoting jarroo
You'll see the A+ setups . .the true A+ setups . . .on all feeds many times my friend.
What even if you are a dick head?

There is hope for me after all!

LOL
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