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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

  • #68,941
  • Jul 16, 2010 10:39am Jul 16, 2010 10:39am
Quoting mbqb11
PS if you look at the MA lines(instead of the histogram) as if they were filled in, those seem to be what matches up with MT4 and much more accurate. It almost seems as if you should go by that to line up with mt4 for whatever reason

Hope that helps
Mike

Much appreciated to Mike and Oneday!

Bill
  • #68,942
  • Jul 16, 2010 10:46am Jul 16, 2010 10:46am
Quoting mbqb11
hahah you beat me by a second, yep this looks like it is it
There is a first time for everything - ehh Mike.
  • #68,943
  • Jul 16, 2010 11:28am Jul 16, 2010 11:28am
Quoting Jonnyislost
Nice setup Ben,
Did you end taking it Jonny?
I have just cut it off for BE as this is the second bar that is going to close and price is doing nothing/lacking momentum, so I am cutting it as per my rules.

USDCHF is standing on a great level now
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  • #68,944
  • Jul 16, 2010 11:41am Jul 16, 2010 11:41am
Quoting benji533
Here is an update on this trade I posted yesterday....
Also I finally closed this nice one
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  • #68,945
  • Jul 16, 2010 11:52am Jul 16, 2010 11:52am
Quoting Atc
......I was talking about the Histogram differences only since I don't rely on the signal lines....
...
Bill,
hahah..
if u didnt notice, One day & Mike said the same thing i did. they just sort of said it in a reverse fashion

Quoting supremeChaos
Hello Bill,
it actually looks the same. but u are using 2 types of MACD.
on your 1st chart above, it lacks the green histogram on your 2nd chart. your 1st chart's MACD is only showing the red & blue lines on your 2nd chart's MACD.
...
  • #68,946
  • Edited 12:51pm Jul 16, 2010 12:32pm | Edited 12:51pm
Quoting benji533
Did you end taking it Jonny?
I have just cut it off for BE as this is the second bar that is going to close and price is doing nothing/lacking momentum, so I am cutting it as per my rules.

USDCHF is standing on a great level now
I wasn't on the trade as the bar had already been broken and price underway by the time I saw it (after you had posted it) but I really liked the setup.

Looks like the price retraced to the 1.6 BRN before heading back up. If I had been in the trade I might have closed it for something like a 0.3R loss as it did dip under 1.6 briefly, but I usually find it difficult to determine exactly what I 'would' have done under the circumstances.

Have a great weekend

J
  • #68,947
  • Jul 16, 2010 12:37pm Jul 16, 2010 12:37pm
Quoting supremeChaos
Bill,
hahah..
if u didnt notice, One day & Mike said the same thing i did. they just sort of said it in a reverse fashion
I thought I understood what you meant...but maybe I didn't....but then again maybe I understand reverse rational better! You know my head has hit the dirt several times---very hard in the past.

Also, the link on MT4 MACD looks worth looking into or maybe it's splitting hairs...either way when I look at two charts histograms from the 2 different feeds I need to know what I'm looking at or maybe I shouldn't look at it all because it confuse me.

All in all ---everyone here is great__"I love you guys"

Have a great weekend all--- and spend some pips---let's jump start the economy
  • #68,948
  • Jul 16, 2010 1:22pm Jul 16, 2010 1:22pm
well a great week ..cld be even better if i could hold positions for more time ..question to experienced traders: what is your average holding time on Daily/weekly entry.. i know there is no such rule to the letter ..but i like statistics .. i think 2 days (london open) shld be the minimum ?!!
  • #68,949
  • Edited 3:00pm Jul 16, 2010 2:48pm | Edited 3:00pm
Does anybody see a Pin Bar forming in EURUSD Daily chart? Since I am learning, I would like an answer for this one. I know it is not the biggest lie ever told by the market, nevertheless, can we consider it a pin?

Also, it bounced off fib line 61.8. The MA line you see is SMA 100. Your inputs appreciated.
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  • #68,950
  • Jul 16, 2010 4:09pm Jul 16, 2010 4:09pm
i ll short it monday.. 61.8 + the close is lower than day before.
  • #68,951
  • Jul 16, 2010 4:22pm Jul 16, 2010 4:22pm
Quoting fxprocessor
I took a ret entry on this dblhc.

Entered just above 1.5 round number on the retrace. Half of my usual risk as it's a retrace entry.

Price is trying to push through the 1.5 number as I type this and has moved against me some. Lets see how it goes

edit. this is also a retrace of the big buob from 1/7/2010 and with the trend
This has now moved 7 times my initial risk and I have closed it. Thank you James
  • #68,952
  • Jul 16, 2010 5:07pm Jul 16, 2010 5:07pm
Quoting everydayguid
Does anybody see a Pin Bar forming in EURUSD Daily chart? Since I am learning, I would like an answer for this one. I know it is not the biggest lie ever told by the market, nevertheless, can we consider it a pin?

Also, it bounced off fib line 61.8. The MA line you see is SMA 100. Your inputs appreciated.
Hey everydayguid!

It is tiny neutral bar imo, so it basically tells us nothing.
Also when we had a friday and there´s no divergence.. More than half of the cake is missing

Happy trading to you and to all of you,
Nuclear
  • #68,953
  • Jul 16, 2010 6:46pm Jul 16, 2010 6:46pm
Quoting kdee1
Jaroo, pls how do you get the H8 chart. Thanks

Quoting supremeChaos
kdee1,
period conversion
check here & here.
Thanks sChaos
Indicators show the past. Price Action "Indicates" the future.
  • #68,954
  • Jul 16, 2010 6:50pm Jul 16, 2010 6:50pm
Quoting Atc
Update from yesterday...about to take FTA and move stop to BE...we shall see...or kill it

Nice Atc. The Rac-man would be proud.
Indicators show the past. Price Action "Indicates" the future.
  • #68,955
  • Jul 16, 2010 7:29pm Jul 16, 2010 7:29pm
Quoting fxprocessor
This has now moved 7 times my initial risk and I have closed it. Thank you James
Verrrry nice fxp.

I take it you used the bottom of the DBLHC and the MAs for your stop loss.

The key to this was the retrace occurred after the break instead of before the break. And that it was in the A catagory, quality setup-wise. Oh and the 1.5000 BRN help too. Then have a beautiful BUOB was a great confirmation to stay in the trade, to say the least. lol

Text book stuff fxp.
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Indicators show the past. Price Action "Indicates" the future.
  • #68,956
  • Jul 16, 2010 8:46pm Jul 16, 2010 8:46pm
Here's what I see..weekly shows a very strong downtrend and a triple top near the minor flip zone of 1.6200. There is also a nice little zone near 1.6400 as well.

Dropping down to daily, I see a nice run up of price through a 2-fib confluence area (50/38.2) at BRN 1.6000. I don't see signs of Friday profit taking as there was nice Friday BUB with no wicks - three nice daily BUBs actually. What I would like to see is Bearish pa after price pushes up and test the 1.6400 - 1.6500 area, where I see deeper 2-fib confluence (61.8/50), almost 2 the pip, near at a minor flip area of 1.6350. Seems like a nice are for bulls to take profit and bears to sell to give price a push back down with the major trend. There's also some hidden bearish divergence as well, indicating price may turn south.

Question for seniors, have I pulled my fibs from highs that make sense?
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  • #68,957
  • Edited 1:34am Jul 17, 2010 1:03am | Edited 1:34am
Just found out why I got stopped out on USD/CAD after Tp1 and then moving the SL.
price was stalling a bit and I locked in 25 pips profit. Now, I could have locked in just 10 pips profit as I had already taken half off the table at TP1.
Perhaps, being over protective is not a good thing, ONCE we have taken TP1.
Still. it could have been worse, I could have lost out on this trade instead of bagging nearly 60 pips.

EDIT: Possibly I need to work on trusting the daily setup more and working out where a particular setup is likely to stop.
The next project.
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  • #68,958
  • Jul 17, 2010 2:09am Jul 17, 2010 2:09am
Jarroo got me thinking about this yesterday with his boxes, comment.

What are these boxes, they are consolidation areas but I think there is some other aspect to them, such as consecutive highs or lows or even both.
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  • #68,959
  • Jul 17, 2010 2:15am Jul 17, 2010 2:15am
Quoting benji533
Seems like today it's my lucky day. Came across the computer exactly when great opportunities occurred and cached 3 of them in one day

EURGBP and GBPUSD I was late a bit and forced to enter at a retrace but still according to my rules. So 3 small gains for a total of 1.7R = 3.4%
Who says you need at least 1:1 ratio to make money follow the cart!!
benji,

when playing BEOB and BUOB trades what Risk:Reward you must have to enter the trade.
Cheers
Novice 198
  • #68,960
  • Jul 17, 2010 2:59am Jul 17, 2010 2:59am
Lets try this...let's see if we can spot any PA on the lower TF by only looking at the Daily.

Here goes.
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