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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

  • #69,061
  • Jul 19, 2010 7:31am Jul 19, 2010 7:31am
Quoting supremeChaos
six gun,
on top of every page, on the right side, u will see the pages list, & the attachments link(paper clip).
below them, u will see "search this thread" & then "Rating".
this is what u want. rate the thread there.
I am missing something - this is what I see and there is nothing about rating.
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  • #69,062
  • Jul 19, 2010 7:32am Jul 19, 2010 7:32am
Quoting Pinbar
Either of these
Although, I think we can disregard the small bump.
MACD 'divergence' on a single bar? hrm.
When you have to shoot, shoot. Dont talk.
  • #69,063
  • Jul 19, 2010 7:50am Jul 19, 2010 7:50am
found somewhere on web ... could be useful for newbies.. however dont forget LOCATION IS THE MOST IMPORTANT THING..

if u can change/add more to it please feel free to share

by author:
Pin-Bar noddy indicator.
shows bars where body size (Open-to-Close) is 25% or less of bar-size (High-to-Low).

if the open/close of the small body falls within the top 25% it is flagged as bullish. (blue diamond)
if the open/close of the small body falls within the bottom 25% it is flagged as bearish. (red diamond)
if the open/close of the small body falls within the middle 50% it is flagged as spinning-top.
(white diamond. Yeah, I know, useles if blackground is white!)

for some reason the flags reduce in size if recompiled onto the chart. so, best to close the chart and reload.

NB: the PinBar.txt needs to be renamed as PinBar.mq4 and compiled.
Attached File(s)
File Type: txt PinBar.txt   9 KB | 659 downloads
  • #69,064
  • Jul 19, 2010 7:55am Jul 19, 2010 7:55am
Quoting mp777
I don't think you can rate threads until you have at least 4 vouches to your name. I see plenty of threads I would like to vouch for but unfortuantely i can't either.

HTH

Chris
Thanks Chris for that.

Anyone want to vouch for me?
I am a big support of J16 and would like to vote for the thread.
  • #69,065
  • Jul 19, 2010 8:42am Jul 19, 2010 8:42am
Quoting six gun
Thanks Chris for that.

Anyone want to vouch for me?
I am a big support of J16 and would like to vote for the thread.
How do I vouch for you ?
  • #69,066
  • Jul 19, 2010 8:46am Jul 19, 2010 8:46am
Quoting cprao
How do I vouch for you ?
I have looked at this a little more.

You cannot vouch for anyone unless you already have 4 vouches yourself.
The scheme to setup so that only the more experienced posters can vouch for others.
This is clearly sensible as it elevates the worth of the scheme.
I simply wanted to vote for the two threads I concentrate on.
Both are good threads and deserve a vote or more votes.
  • #69,067
  • Jul 19, 2010 9:36am Jul 19, 2010 9:36am
Hello guys,

Has anyone taken EUR/GBP 4h outside bar.Although the ppz level was around 0,8450, 0,8500 BRN made me hesitate therefore i stayed out. The continuation outside bar was ok, encompassing previous 4 bars and the close was just below the high. Any comment appreciated.
  • #69,068
  • Jul 19, 2010 9:55am Jul 19, 2010 9:55am
Hi guys/gals! ppfx reporting Dont know if you still remember me, i was absent for about two months... had some final exams to take care. Now i finally finished the first year and in October i wont be a freshman anymore.

I see that you wrote a lot in my absence. Im about 400 pages behind! Better i begin with reading if i want to catch up with you. I didnt have time much time for forex lately, so i took only 2 trades. Both were breakeven, and both were runners. Can you believe it, just after they took me out, they went in my direction. Well, the good thing is that i still can find a winning trade. Too bad that i dont stick to my plan. Because of this my live account is still where it was about 9 months ago. lol

How have you been all doing? I hope you have collected a lot of pips. I see that Mike is approaching to the magic BRN of 5000 posts!! And not even talking about jarroo who has more than 8000 posts! wow i cant believe it! You two guys are really amazing. And of course the others too; SC,Nassir,ghous,joel,mike w, raczek,... I missed you all guys, and im happy to be back. So lets do some trading now

ppfx
  • #69,069
  • Jul 19, 2010 9:58am Jul 19, 2010 9:58am
welcome back PP hope your studies went well
  • #69,070
  • Jul 19, 2010 10:30am Jul 19, 2010 10:30am
This one is on my radar.

Location...
1. 50.0% retracement
2. Round number 0.6000
3. 150ema and 365ema in that vicinity

Things to be aware of...
0.5000 BRN lies below
Attached Image (click to enlarge)
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  • #69,071
  • Jul 19, 2010 10:51am Jul 19, 2010 10:51am
Guys/Gals,

Has anyone of your back/forward tested this on "odd" TFs such as the 6H, 8H or the 12H? My primary query in mind is, are there enough traders watching these charts too? I noticed these TFs in MT5.

Please share your thoughts.
  • #69,072
  • Edited 11:23am Jul 19, 2010 11:08am | Edited 11:23am
Quoting PrincoPrinco
Hello guys,

Has anyone taken EUR/GBP 4h outside bar.Although the ppz level was around 0,8450, 0,8500 BRN made me hesitate therefore i stayed out. The continuation outside bar was ok, encompassing previous 4 bars and the close was just below the high. Any comment appreciated.
Hello PrincoPrinco,

The bar is certainly a good one, however its not in an ideal place for me. PB, BU/BE OB and DB H/L L/H C I want to see at swing highs and lows.

i.e. if that bar formed off the 8400 level (pull back) after reaching the 8500 level or beyond it might be more interesting, however this bar is formed as part of a continuation move as it brakes out of consolidation between 8300 and 8400 so it would be good for in trade management, but not as good for taking a trade from, as the longer a trade runs (depending on the setup) the less momentum it has to travel.

I prefer to get in at the start of the move and increase the chances of taking a bigger chunk of the trend and having a reliable stop/loss placement based on solid support or resistance.

A little bit of patience helps in hunting those down and passing on the others.

Personally I'm waiting for a potential sell opportunity to arise on larger time frames....if it happens.
In retrospect we learn. In perspective we earn.
  • #69,073
  • Jul 19, 2010 11:22am Jul 19, 2010 11:22am
Quoting everydayguid
Guys/Gals,

Has anyone of your back/forward tested this on "odd" TFs such as the 6H, 8H or the 12H? My primary query in mind is, are there enough traders watching these charts too? I noticed these TFs in MT5.

Please share your thoughts.
Hey Everyday

Many times it is not that other traders are looking at these patterns it is the orderflow that is making up these patterns. This is why location, what is going on the look of it plays a much more important role. We are interpreting that previous orderflow into a visual way that we know gives us an edge over time. So it isn't that we need all kinds of traders watching a 12hr timeframe to see the same "pin". Now sometimes this may be the case but for the most part it is not. Just make sure to test and get used to everything through demo and you will get that confidence going forward

Best
Mike
  • #69,074
  • Jul 19, 2010 11:42am Jul 19, 2010 11:42am
Hey guys,

Heres an example of what NOT to do. Took this just after the open of the Beob. Didn't notice the FTA at .8650. bounced on me just like good PA should.

Impatience WILL bite you in the butt! Ask me, I'm a master. LOL
Attached Image (click to enlarge)
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  • #69,075
  • Jul 19, 2010 12:00pm Jul 19, 2010 12:00pm
Quoting tubguy
Hey guys,

Heres an example of what NOT to do. Took this just after the open of the Beob. Didn't notice the FTA at .8650. bounced on me just like good PA should.

Impatience WILL bite you in the butt! Ask me, I'm a master. LOL
Hey tubguy,

Ouch!

That BEOB forms right on top of a PPZ @ the 8650 (and away from the original pullback) which has flipped price many times and price had already bounced off it 2 times today so it had become support for the day effectively. Its always worth checking the levels and zooming out to put the move into perspective.

Also looking at the move from 8850 down to 8650 on the H1 I see that it could have delivered 3 sets of waves (based on Elliott wave theory which I do blend in as a guide) so price could be reaching the end of its extension for that move in that time frame.
In retrospect we learn. In perspective we earn.
  • #69,076
  • Jul 19, 2010 12:11pm Jul 19, 2010 12:11pm
Quoting fx_heaven
Hey tubguy,

Ouch!

That BEOB forms right on top of a PPZ @ the 8650 (and away from the original pullback) which has flipped price many times and price had already bounced off it 2 times today so it had become support for the day effectively. Its always worth checking the levels and zooming out to put the move into perspective.

Also looking at the move from 8850 down to 8650 on the H1 I see that it could have delivered 3 sets of waves (based on Elliott wave theory which I do blend in as a guide) so price could be reaching the end of its extension...
Yea, this was just a case of cranial rectitis "Head up butt" and impatience.
Just wanted to show that it can get any of us. Been at this J16 stuff for just over 2 years and I still goofed! Oh well! Next!
  • #69,077
  • Jul 19, 2010 12:13pm Jul 19, 2010 12:13pm
Any thoughts on EURAUD 4HBEOB....

Looks like good location, with a little traffic to the left. The larger rectangle around 1.4700- 1.4750 or so is a ppz I drew off of daily.
Attached Image (click to enlarge)
Click to Enlarge Name: ea071910.gif Size: 21 KB
  • #69,078
  • Jul 19, 2010 12:14pm Jul 19, 2010 12:14pm
Hey tubguy,
This is really useful for me, as sometimes people dont always post trades that dont go as planned.
sorry for my ignorance, but what is FTA?
cheers
revstar

Quoting tubguy
Hey guys,

Heres an example of what NOT to do. Took this just after the open of the Beob. Didn't notice the FTA at .8650. bounced on me just like good PA should.

Impatience WILL bite you in the butt! Ask me, I'm a master. LOL
  • #69,079
  • Jul 19, 2010 12:18pm Jul 19, 2010 12:18pm
Quoting tubguy
Yea, this was just a case of cranial rectitis "Head up butt" and impatience.
Just wanted to show that it can get any of us. Been at this J16 stuff for just over 2 years and I still goofed! Oh well! Next!
That's the spirit tubguy, realising the mistake and moving on.

Its easy to get locked into a move and forget to do the checks. I place a hood over my terminal while I'm waiting (I set audible alarms to tell me when to check things) with a clear reminder of what I should do BEFORE I take a trade.

I then move away and go and do something else to clear my mind before it tries to "convince" me that the opportunity is real. Nothing is real until my analysis proves its real, not my mind.
In retrospect we learn. In perspective we earn.
  • #69,080
  • Jul 19, 2010 12:20pm Jul 19, 2010 12:20pm
I found this Double bar high on the USD/CAD. Can someone explain this briefly, i am still confused on how to interpret this. Is this showing resistance?

https://dl.dropbox.com/u/3825437/ddadf.gif
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