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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

  • #69,361
  • Jul 21, 2010 10:29pm Jul 21, 2010 10:29pm
Quoting Dan Gilbert
I think people don't seem to understand that Price action equates to how price moved over a certain period of time.... it's not a holy grail, it's simply a display of how price moved.
Exactly. Bars are just an abstraction of price movement. We could represent the same information as a line, as some Xs and Os stacked in lines (p&f charts) or as a pile of multicoloured cats if we want*. We just want some way of trying to read what the real money is doing.

And with tiny accounts, we can jump on board those movements without affecting them.

(pm me credit card or paypal details for my $49.95 Cat System ebook - guaranteed to get your account purring and put the claws into your compounding!)

Quoting Dan Gilbert
it's not like you can "exploit" those who use PA....
Using PA? No.

Barspotting and trying to 'trade' every pin-looking bar they see? Definitely. You know where their entries are, you know where their stops are. One of the most reliable setups is a failed pin, because you know there are gonna be a bunch of people despearate to get out.

And probably the reason Mike and Jaroo spend about 27 hours a day (each) telling people to look for location, location, location.
When you have to shoot, shoot. Dont talk.
  • #69,362
  • Jul 21, 2010 10:48pm Jul 21, 2010 10:48pm
Quoting joelcf

(pm me credit card or paypal details for my $49.95 Cat System ebook - guaranteed to get your account purring and put the claws into your compounding!)


Check your PM please.
Many choose unhappiness over uncertainty.
  • #69,363
  • Jul 21, 2010 10:49pm Jul 21, 2010 10:49pm
speaking of mbqb11...
he stopped 1 post short of 4,900.
did someone prevent him from posting 1 more &/or someone 'protecting' the 4900 round number?
  • #69,364
  • Jul 21, 2010 10:57pm Jul 21, 2010 10:57pm
Quoting mattymo
whats up everyone, hows it going? just got interested in investing and forex in particular a few weeks ago and it looks like ive started at the right place. ive learned a ton from this thread and i can tell its going to be an invaluable resource for me throughout my time trading. thanks so much to jim and everyone involved in this thread - this thing awesome! also, mike, really enjoyed your videos, hopefully you have some new ones planned.

that being said, anyone have any advice on how to play the weekly pin bar for EUR/GBP? it's at a nice ppz,...
Hey Matty

welcome thanks for the nice words, appreciate that

I assume you are speaking about the potential pinbar on the weekly. If so we have 2 more solid days of trading left and much can happen. Don't worry about it till the week closes or you will drive yourself crazy. While we are looking you can see we had a previous bullish pinbar that has respected what we would think it would do(marked trouble areas in blue).

Hope to see you posting more
Mike
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  • #69,365
  • Jul 21, 2010 10:58pm Jul 21, 2010 10:58pm
Quoting supremeChaos
speaking of mbqb11...
he stopped 1 post short of 4,900.
did someone prevent him from posting 1 more &/or someone 'protecting' the 4900 round number?
lol you are very perceptive on those numbers SC.... that ain't that much, we got stripped of thousands, not to mention the 7k on the PF :nerd:
  • #69,366
  • Edited 11:31pm Jul 21, 2010 11:05pm | Edited 11:31pm
Quoting Adilius07
Hello Jarroo, may I please ask. What is the green line?
Maybe is the level where you moved your initial stop loss?

I was thinking maybe to move my stop-loss behind the trigger bar to reduce risk... don't know yet if it's reasonable thing to do. (in general in the future I mean)

Sorry for my earlier drive-by post. (post and run). Found myself at the computer with limilted time to update this trade and I thought I would post it.


It is a PPZ level on the 8 hour time frame. But more importantly, it's a previous bar low of a BEOB. This post talks more broadly about how they can be a great entry and/or stop loss placement .

http://www.forexfactory.com/showpost...ostcount=68217


If the green line was the 1.3000 it would have been a golden A++ setup.
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Indicators show the past. Price Action "Indicates" the future.
  • #69,367
  • Jul 21, 2010 11:10pm Jul 21, 2010 11:10pm
Quoting NoBread
My last two trades??
i think u had your trade prior the GBP news (minutes of the June BoE MPC
meeting).
i got trades that got whipsawed during that time too.
  • #69,368
  • Jul 21, 2010 11:13pm Jul 21, 2010 11:13pm
Quoting mbqb11
lol you are very perceptive on those numbers SC.... that ain't that much, we got stripped of thousands, not to mention the 7k on the PF :nerd:
hahah.
yeah, diggsnoob told me about it in the recent past.
several here got more posts than it currently shows.
  • #69,369
  • Jul 21, 2010 11:15pm Jul 21, 2010 11:15pm
Quoting supremeChaos
hahah.
yeah, diggsnoob told me about it in the recent past.
several here got more posts than it currently shows.
we need to convince Jarroo to post more, that slacker
  • #69,370
  • Jul 21, 2010 11:15pm Jul 21, 2010 11:15pm
Quoting joelcf
Exactly. Bars are just an abstraction of price movement. We could represent the same information as a line, as some Xs and Os stacked in lines (p&f charts) or as a pile of multicoloured cats if we want*. We just want some way of trying to read what the real money is doing.

And with tiny accounts, we can jump on board those movements without affecting them.

(pm me credit card or paypal details for my $49.95 Cat System ebook - guaranteed to get your account purring and put the claws into your compounding!)



Using PA? No.

Barspotting...
I feel Joel and I could have many a beers together
  • #69,371
  • Jul 21, 2010 11:17pm Jul 21, 2010 11:17pm
Quoting mbqb11
we need to convince Jarroo to post more, that slacker

lol
Indicators show the past. Price Action "Indicates" the future.
  • #69,372
  • Jul 21, 2010 11:25pm Jul 21, 2010 11:25pm
Quoting mbqb11
we need to convince Jarroo to post more, that slacker
lol.
yeah, he said he would post & run... yet he's still here
  • #69,373
  • Jul 21, 2010 11:26pm Jul 21, 2010 11:26pm
No big surprise here, right Mike? We saw this developing.

Thanks Mike.

Quoting jarroo
Could be some added support for this PB. Or is the bull flag still in play.

Nzd/Usd Weekly PB.
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Indicators show the past. Price Action "Indicates" the future.
  • #69,374
  • Jul 21, 2010 11:27pm Jul 21, 2010 11:27pm
Is this is a good pinbar setup on GJ 1hr?

I try to zoom out, and see therre have been several times the support hold at this level
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  • #69,375
  • Jul 21, 2010 11:30pm Jul 21, 2010 11:30pm
Quoting supremeChaos
lol.
yeah, he said he would post & run... yet he's still here

Sorry for my earlier drive-by post. (post and run).


I got time now.
Indicators show the past. Price Action "Indicates" the future.
  • #69,376
  • Jul 21, 2010 11:33pm Jul 21, 2010 11:33pm
Moved this message so that Supreme Chaos may catch it.

Supreme Chaos!

I was fortunate enough for Taikixz to create the code for the modified sweetspots gold indicator which we were trying to get sorted out.

So, the credit quite rightly goes to Taiyakixz along with my gratitude.


Here it is.

EDIT: Change shift line in the indicator edit function to a higher number to make the lines shorter.
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Attached File(s)
File Type: mq4 SweetSpots GOLD modification.mq4   4 KB | 487 downloads
  • #69,377
  • Jul 21, 2010 11:35pm Jul 21, 2010 11:35pm
Quoting Pinbar
Moved this message so that Supreme Chaos may catch it.

Supreme Chaos!

I was fortunate enough for Taikixz to create the code for the modified sweetspots gold indicator which we were trying to get sorted out.

So, the credit quite rightly goes to Taiyakixz along with my gratitude.


Here it is.

EDIT: Change shift line in the indicator edit function to a higher number to make the lines shorter.

Cool identifer Pb . . . sChaos doesn't miss that many post.
Indicators show the past. Price Action "Indicates" the future.
  • #69,378
  • Jul 21, 2010 11:40pm Jul 21, 2010 11:40pm
Quoting jarroo
Cool identifer Pb . . . sChaos doesn't miss that many post.

yes, it cleans up the chart for those of us who still need to check for confluence at RN.

Not that Jarroo needs an indicator well perhaps one that tells him how much beer is left in his fridge. LoL

it is boiling here, 36.5 C I think I am going to move into my fridge.
  • #69,379
  • Jul 21, 2010 11:47pm Jul 21, 2010 11:47pm
Quoting Pinbar
yes, it cleans up the chart for those of us who still need to check for confluence at RN.

Not that Jarroo needs an indicator well perhaps one that tells him how much beer is left in his fridge. LoL

it is boiling here, 36.5 C I think I am going to move into my fridge.

I like the way you're thinking Pb. Clean charts are the way to go.

Wow that's hot!. You may want to move under a sprinkler. lol
Indicators show the past. Price Action "Indicates" the future.
  • #69,380
  • Jul 21, 2010 11:54pm Jul 21, 2010 11:54pm
Quoting ghous
Less neater than the one which occured a little earlier, but tradable IMO with tight management.

g.
I would say that the 2nd IPB would show some upward movement because of it's poor structure (previous bar high bugging me) not the location which was good. But that darn IPB worked out anyways.
Indicators show the past. Price Action "Indicates" the future.
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