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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

  • #67,941
  • Jul 4, 2010 1:48am Jul 4, 2010 1:48am
I am getting back to my What is the trend thing on NZD/USD.

it seems the trend is moving in the bearish direction or at least Bearish signs are showing on Monthly, weekly, Daily & H4.

So, next week maybe worth keeping an eye out for some daily Bearish PA.
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  • #67,942
  • Jul 4, 2010 3:13am Jul 4, 2010 3:13am
I'm afraid that claim has no factual basis and is not rooted in actual research.

Quoting ts63
Hello. There's a problem : June candle is red and bullish pinbars work best when close is higher than open.
  • #67,943
  • Jul 4, 2010 3:21am Jul 4, 2010 3:21am
Quoting cprao
Pros:

 

  1. At Swing low
  2. Broke weekly PPZ 8200 (BRN)
  3. Pin size is ok at least in relative to preceeding bearish bar
  4. From the bigger picture- it does not need fight against big downtrend.

Cons:

  1. Did not like the close of the pin.. not at the end of the bar. top wick is not providing good confidence
  2. Little traffic (3 bars)
  3. 05/30 bearish candle is much bigger than this pin bar..

Entry -
Conventional - After the break of pin (High + 10 Pips)
TP: FTA 1 - first blue
FTA2 - 2nd blue - also monthly PPZ
SL: Conventional...

also it bounced off 50 EMA....

if i enter i will put SL at 50 EMA
  • #67,944
  • Jul 4, 2010 7:20am Jul 4, 2010 7:20am
Quoting sollavia
This is totally out of topic, but I was wondering if anyone can help me figure out why my bar chart in FXCM does not look like the one in Metatrader. I mean they're connected to each other, unlike in Metatrader where there are spaces in between bars. Total newbie, sorry.
FXCM charting does not have the capability to separate the bars. It is the nature of the software program. Tech. support says nothing can be done about it.
  • #67,945
  • Jul 4, 2010 7:21am Jul 4, 2010 7:21am
Blast from the past.... (James16 posts)
http://www.forexfactory.com/showpost...&postcount=815

(Clickable link-post below)
if your not willing to give this at least two years of study and practice then your just playing around. doctors and lawyers etc spend 6 to 10+ years mastering something that can make them rich. why would anyone think that this business which can make you much wealthier than most any other profession is any different.
  • #67,946
  • Jul 4, 2010 7:50am Jul 4, 2010 7:50am
Quoting Atc
FXCM charting does not have the capability to separate the bars. It is the nature of the software program. Tech. support says nothing can be done about it.
Thank you, now I know. I'll just stick with MT4 in ActivTrades for studying pinbars.
  • #67,947
  • Jul 4, 2010 9:26am Jul 4, 2010 9:26am
Quote
Welcome SJR from another newbie.

I have the trade simulator if you would like it, this way you can practice on trading in realtime on the weekends. That is if you are using MT4.

I am currently trading UJ daily from 1980 up to last Friday.


Shout if you would like it and I will post it ASAP.

Hi pinbar,

I would appreciate it if u could share the simulator with me.
  • #67,948
  • Jul 4, 2010 9:36am Jul 4, 2010 9:36am
Quoting roundrock
also it bounced off 50 EMA....

if i enter i will put SL at 50 EMA
50 EMA or 200 EMA ? 50 EMA is way up on my weekly chart.

I don't know but I think BRN's has more weight than EMA's.
  • #67,949
  • Jul 4, 2010 9:51am Jul 4, 2010 9:51am
Quoting cprao
...
I don't know but I think BRN's has more weight than EMA's.
yes, of course.
  • #67,950
  • Jul 4, 2010 11:13am Jul 4, 2010 11:13am
Quoting cprao
50 EMA or 200 EMA ? 50 EMA is way up on my weekly chart.

I don't know but I think BRN's has more weight than EMA's.
yes, its 200 EMA on weekly and 50 EMA on monthly
  • #67,951
  • Jul 4, 2010 11:14am Jul 4, 2010 11:14am
Quoting supremeChaos
yes, of course.
  • #67,952
  • Jul 4, 2010 12:06pm Jul 4, 2010 12:06pm
hi and thanks for answers..
just coming back to choice of timeframes..
i made profile with h4 h8 h12 h16 d1 h32 w1 mn1 (h32 really great one)
as traders with great experience could u tell pls which ones will be best to set up stop orders...?
  • #67,953
  • Jul 4, 2010 12:19pm Jul 4, 2010 12:19pm
mistersimple,
to keep it simple, place entry & exit orders (& do trade management) on the same timeframe.

based on your question, i think u need further reading...

(from 1 of my recent posts)
1 of the best ways to learn is view & review the charts/post of many seniors (like james16, mbqb11, jarroo....)
Cyrus summaries
Free videos


it's past 1AM....
  • #67,954
  • Jul 4, 2010 12:37pm Jul 4, 2010 12:37pm
THANKS
  • #67,955
  • Jul 4, 2010 12:40pm Jul 4, 2010 12:40pm
Quoting supremeChaos
1 of the best ways to learn is view & review the charts/post of many seniors (like james16, mbqb11, jarroo....)
Cyrus summaries
Free videos

It amazes me every time I open my collection of the best charts (yes, I do collect them) and of the videos how some of the best setups worked out. It has probably been said before but repetition is the real key to learning this stuff. Repetition and practice (demo account). You can't learn this stuff over a weekend hoping to make a trillion dollars on Monday's open, unless we're talking about Zimbabwean dollars here, hehe. Trading forex profitably is something that takes time and lots of effort. As James and many others have said before, any profession where you expect to make a lot of money takes time and practice.

supremeChaos, this wasn't directed to you. Your reference to free videos reminded me of my experience with them and I just had to say this. I know there are a lot of new people reading this thread, this is something for them.

Hmm... now that I've spoken my mind, I guess I'd better watch those videos again. It's good stuff!
If you don't risk, you don't ever have to lose.
  • #67,956
  • Jul 4, 2010 1:41pm Jul 4, 2010 1:41pm
Quoting cprao
50 EMA or 200 EMA ? 50 EMA is way up on my weekly chart.

I don't know but I think BRN's has more weight than EMA's.
Moving averages are just historical numbers. BRN on the other hand are places where smart money place their orders, that's why they have much more weight
  • #67,957
  • Jul 4, 2010 1:52pm Jul 4, 2010 1:52pm
I liked the pin and location albeit I'm working against May's large BEOB and Jpy's current bullishment.
What do you guy's think? Just a wee retracement or am I a dope?
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  • #67,958
  • Edited 2:12pm Jul 4, 2010 2:01pm | Edited 2:12pm
Quoting Bryan
I liked the pin and location albeit I'm working against May's large BEOB and Jpy's current bullishment.
What do you guy's think? Just a wee retracement or am I a dope?
If you took it - it was nothing wrong with that - nice bar at good location, plus round number. But look at the screenshot - price reached problem area and reversed. I think in this situation the worst thing that could happen to you - is stopping out at BE. You have to lock in your profits and manage risks according to the PPZ's and problem areas. On the other hand if you sure about your analysis, or have for example strong fundamental background under that trade - price may very well still go up
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  • #67,959
  • Jul 4, 2010 3:10pm Jul 4, 2010 3:10pm
Hey,

I´m far from pro with this stuff, but i like this one too, excluding i would have liked to see bar closing above that 60.60ish and inside the previous bar in my feed.. So i gotta pass this one.. There´s slight divergence, BRN.. Not A+ and the rest is up to trader

Happy forthcoming week!

Nuc
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  • #67,960
  • Jul 4, 2010 3:19pm Jul 4, 2010 3:19pm
Bryan,
I passed on this one but you are far from a dope. The PB was at good support, however, it had little room to move. The first trouble area was 61.00 so price did what we expect. Below is a visual.

Quoting Bryan
I liked the pin and location albeit I'm working against May's large BEOB and Jpy's current bullishment.
What do you guy's think? Just a wee retracement or am I a dope?
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