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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

  • #66,961
  • Jun 22, 2010 3:52am Jun 22, 2010 3:52am
Quoting six gun
What even if you are a dick head?

There is hope for me after all!

LOL

lol


Its a good confluence SG.
Indicators show the past. Price Action "Indicates" the future.
  • #66,962
  • Jun 22, 2010 3:57am Jun 22, 2010 3:57am
Quoting joelcf
Cyrus does a post every couple thousand pages where he pulls together all the posts for particular usernames using some kind of black magic. Get your condensed hit of Jaroo all in one place! Well worth searching for.



It's a nice backgrounder in some basic theory (things like exchange rate models, risk flow theory, *very* basic yield curve analysis, market cycle theory, etc) and a big whack of history, but you wont find very much practical information in there. But as a jumping point for your own research, it is pretty good. Well written,...
I do wan't something that starts off with basics. I just learnt about Risk Appetite and Risk aversion (after i read it in your post) so you can judge how much i know about this whole thing.

Btw good to have a guy who has read almost every book out there.

Thanks Joel.
.
  • #66,963
  • Jun 22, 2010 3:58am Jun 22, 2010 3:58am
Quoting nasir.khan
I do wan't something that starts off with basics. I just learnt about Risk Appetite and Risk aversion (after i read it in your post) so you can judge how much i know about this whole thing.

Btw good to have a guy who has read almost every book out there.

Thanks Joel.
.

Absolutely.
Indicators show the past. Price Action "Indicates" the future.
  • #66,964
  • Jun 22, 2010 4:03am Jun 22, 2010 4:03am
Quoting six gun
Really??

I think I can change the closing times on my platform.

AFAIK it is impossible to change the close time on MT4. If you do find these settings I would be grateful to know. The only way to do it is to use an indicator that cumulates 1H bars. Something like jaroo uses for his 8H bars. Below is the link to the thread with the indi:
http://www.forexfactory.com/showthread.php?p=249706

As for setups in different TZ, my take on the subject is to look for NY and London feeds i.e. GMT and GMT+5. Both are great for spotting setups. This is beacause most traders use those feeds. The more people see the setup - the more people trade it, making it more powerful and probable to play out.

Best regards
"Put your shoulder to the wheel!"
  • #66,965
  • Jun 22, 2010 4:07am Jun 22, 2010 4:07am
Quoting nasir.khan
I do wan't something that starts off with basics. I just learnt about Risk Appetite and Risk aversion (after i read it in your post) so you can judge how much i know about this whole thing.
I'd go with the Murphy book first. Then move on to the Laidi if you havent killed yourself from boredom. Then maybe try and track down some of Louis Mendelsohn's books if you want to fill in the gaps... although, at that point, we will probably be reading your newsletter..

Quoting nasir.khan
Btw good to have a guy who has read almost every book out there.
Thank insomnia and the fact that I am terrible at video games so I dont even bother trying anymore
When you have to shoot, shoot. Dont talk.
  • #66,966
  • Jun 22, 2010 4:29am Jun 22, 2010 4:29am
Quoting proletary
AFAIK it is impossible to change the close time on MT4. If you do find these settings I would be grateful to know. The only way to do it is to use an indicator that cumulates 1H bars. Something like jaroo uses for his 8H bars. Below is the link to the thread with the indi:
http://www.forexfactory.com/showthread.php?p=249706

As for setups in different TZ, my take on the subject is to look for NY and London feeds i.e. GMT and GMT+5. Both are great for spotting setups. This is beacause most traders use those feeds. The more people see...
I have just changed the closing time on my charts to Eastern Time with daylight saving.

I have GFT Dealbook 360.
It is really easy to switch over.
I can be any time zone with or without daylight saving in seconds.
  • #66,967
  • Jun 22, 2010 4:39am Jun 22, 2010 4:39am
Quoting proletary
As for setups in different TZ, my take on the subject is to look for NY and London feeds i.e. GMT and GMT+5. Both are great for spotting setups. This is beacause most traders use those feeds. The more people see the setup - the more people trade it, making it more powerful and probable to play out.

Best regards
This is a chicken and egg situation.

The bars tell us what market sentiment is.
Then the bars compound that sentiment as traders react to them.

The buyers are exhausting and more enthusiastic sellers appear.
The bars indicate a change in sentiment - a bearish pin bar forms in outer Mongolia time zone.

A few traders see the pin bar and sell + on the pin bar.

The buyers are exhausting and more enthusiastic sellers appear.
The bars indicate a change in sentiment - a bearish pin bar forms in London.

A lot of traders see the pin bar and sell +++++ on the pin bar.

The buyers are exhausting and more enthusiastic sellers appear.
The bars indicate a change in sentiment - a bearish pin bar forms in New York.

A lot of traders see the pin bar and sell ++++ on the pin bar.

The buyers are exhausting and more enthusiastic sellers appear.
The bars indicate a change in sentiment - a bearish pin bar forms in all time zones.

A lot of traders see the pin bar.
Jarroo says A++ setup.
And we have ++++++++++++++++++++++++++++++++++++++++ selling.
  • #66,968
  • Jun 22, 2010 4:44am Jun 22, 2010 4:44am
Quoting mbqb11
I prefer a 5pm est daily close so my daily closes are based off FXpro feed

Many use anything within about 2-3 hours of that time(ibfx, alpari etc). A 12 am close to me is pushing it as you start adding that next lower liquidity day in of asia/sydney

Best
Mike
Can you clarify what you mean by this Mike?
  • #66,969
  • Jun 22, 2010 4:47am Jun 22, 2010 4:47am
Quoting six gun
This is a chicken and egg situation.

The bars tell us what market sentiment is.
Then the bars compound that sentiment as traders react to them.

The buyers are exhausting and more enthusiastic sellers appear.
The bars indicate a change in sentiment - a bearish pin bar forms in outer Mongolia time zone.

A few traders see the pin bar and sell + on the pin bar.

The buyers are exhausting and more enthusiastic sellers appear.
The bars indicate a change in sentiment - a bearish pin bar forms in London.

A lot of traders see the pin bar and sell...

So you think a lot of sellers are going to see (or already saw) that PB on the Dow? I think so.
Indicators show the past. Price Action "Indicates" the future.
  • #66,970
  • Jun 22, 2010 4:57am Jun 22, 2010 4:57am
hey guys what do you think about eur usd h4 setup .double high lower close ,macd bearish divergence and trix bearish cross .will we go 1.2150 area today?
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  • #66,971
  • Jun 22, 2010 4:59am Jun 22, 2010 4:59am
Quoting djmartymac
Can you clarify what you mean by this
?
by 'pushing it',
i believe he means it's less ideal or it's not recommended to use brokers which close during the times other than those he mentioned (FXPro, IBFX, etc), due to low liquidity issues

  • #66,972
  • Jun 22, 2010 5:06am Jun 22, 2010 5:06am
Quoting serb_manu
hey guys what do you think about eur usd h4 setup .double high lower close ,macd bearish divergence and trix bearish cross .will we go 1.2150 area today
You didn't like the Daily BEOB on the Euro? Already hit its 1st target for about 40 pips.

The DBHLC on the 4 Hour is not to bad as a continuation setup but we would like these at a swing high. They can be a bit risky. (Good confirmation on our Daily BEOB.)
Indicators show the past. Price Action "Indicates" the future.
  • #66,973
  • Jun 22, 2010 5:14am Jun 22, 2010 5:14am
Quoting jarroo
So you think a lot of sellers are going to see (or already saw) that PB on the Dow? I think so.
The pin bar is a staple of basic solid chart analysis.
Martin Pring created the bar and people like James have forged ahead with it.
The other chartists using fancy gizmo indicators are away with the fairies for me.
Solid bar formations, BRN's, major fib numbers and basic trendlines are the rulers of chart analysis for humans.

However bug says most of the trading is by computer on the Dow.
Can the machines see the pin bars?
May be they see them in a different way but they still see the signal.
  • #66,974
  • Jun 22, 2010 5:16am Jun 22, 2010 5:16am
[quote=six gun;3819976]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.
quote]

I don't get it ----Could you convert this to English Units
  • #66,975
  • Jun 22, 2010 5:20am Jun 22, 2010 5:20am
Quoting six gun
The pin bar is a staple of basic solid chart analysis.
Martin Pring created the bar and people like James have forged ahead with it.
The other chartists using fancy gizmo indicators are away with the fairies for me.
Solid bar formations, BRN's, major fib numbers and basic trendlines are the rulers of chart analysis for humans.

However bug says most of the trading is by computer on the Dow.
Can the machines see the pin bars?
May be they see them in a different way but they still see the signal.
Not sure on how the computers work . .the 10500 might have triggered something. Who knows. . . lol

I'll have to ask nasir . .he saw the 10500 coming into play last week.
Indicators show the past. Price Action "Indicates" the future.
  • #66,976
  • Jun 22, 2010 5:27am Jun 22, 2010 5:27am
Quoting jarroo
You didn't like the Daily BEOB on the Euro? Already hit its 1st target for about 40 pips.

The DBHLC on the 4 Hour is not to bad as a continuation setup but we would like these at a swing high. They can be a bit risky. (Good confirmation on our Daily BEOB.)
The struggle for price is going to be around 1.2230.
This is the low of the pin bar from where price came up from before turning down.
Looking left there are plenty of bars high/lows at this level.
  • #66,977
  • Jun 22, 2010 5:31am Jun 22, 2010 5:31am
Quoting Atc

I don't get it ----Could you convert this to English Units


If I'm not wrong, he means feeds could be different, but the results are the same. If the price is going down, no matter which feed you use, it's going down.
  • #66,978
  • Jun 22, 2010 5:38am Jun 22, 2010 5:38am
Quoting six gun
The struggle for price is going to be around 1.2230.
This is the low of the pin bar from where price came up from before turning down.
Looking left there are plenty of bars high/lows at this level.

The choppiness of traffic, that's why we like space so much.

Price is still dealing with its 1st target(s). Getting through these levels are the key. Price may not, and have other plans.
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Indicators show the past. Price Action "Indicates" the future.
  • #66,979
  • Jun 22, 2010 5:39am Jun 22, 2010 5:39am
Quoting supremeChaos
by 'pushing it',
i believe he means it's less ideal or it's not recommended to use brokers which close during the times other than those he mentioned (FXPro, IBFX, etc), due to low liquidity issues

OK cheers mate.
  • #66,980
  • Jun 22, 2010 5:40am Jun 22, 2010 5:40am
I'm locked and loaded . . gotta go.

later gang,

Jim
Indicators show the past. Price Action "Indicates" the future.
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