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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

  • #70,521
  • Aug 4, 2010 2:12am Aug 4, 2010 2:12am
Quoting cprao
Ad, Which trading software/broker is this ?

Edit: Saw your other post. You said Finviz, right ? Can we trade also from this site (Demo) ?
Cprao, yes this is Thinkorswim.
On finviz I don't think they have a demo portfolio.
  • #70,522
  • Aug 4, 2010 2:20am Aug 4, 2010 2:20am
Quoting TheMaxx
The only free stock scanner I've been able to find is Patternz:
http://thepatternsite.com/patternz.html

Website looks rubbish and the software is a little old but it's brilliant. The author has written a great book on chart patterns and has done a lot of historical testing on the probability of patterns continuing or failing. If you find any other scanners let me know.

Thanks, I will check it out.
  • #70,523
  • Aug 4, 2010 2:26am Aug 4, 2010 2:26am
Quoting jarroo
I actually caught that BUOB retrace for a long for 32 pips but that dog couldn't hunt. I should have known why . .it was going the other way . .lol
a retrace wldnt be bad really, the mkt has been real quiet in anticipation of nfp.... makes me feel friday/prior just might be bloody
Simplicity is the key to success
  • #70,524
  • Aug 4, 2010 4:13am Aug 4, 2010 4:13am
GU weekly is looking like we are arriving at an interesting level.
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  • #70,525
  • Aug 4, 2010 4:53am Aug 4, 2010 4:53am
Quoting jarroo
I am not seeing your DBHLC nor your BUOB on the 4 hour Guppy.

Gotta chart ?
Greetings Jarroo,
Thanx for taking the trouble for replying my post! http://cdn.forexfactory.com/images/icons/icon14.gif I've attached the 4H chrt, as you see my pricefeed generated a DBHLC pattern followed by a green bar which engulfed the DBHLC, the lows only differ 2 pip. If one traded this DBHLC with the SL a few pips above the high, you would have stopped out, to see price drop afterwards. Is this just bad luck or is this setup not correct ?

May the force be with you,
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Pipcrawler
  • #70,526
  • Aug 4, 2010 5:20am Aug 4, 2010 5:20am
Even though I have seen this many times...thx for taking the time to drill it into my skull....this is a fantastic explanation...hits home

Quoting jarroo
I wanted to comment on this one earlier aserb.

You have a BUOB at a not-so-great trendline on the 4 hour time frame.

Yet where is the PPZ levels? Is there other PA on the higher time frames that may agree or conflict with your 4 hour setup.

We see on the Weekly time frame a Big BUOB right through a Weekly PPZ level, 1.3350. It sure would have been great if that baby was at a swing low. But it still has good potential. Classic Resistance turning into Support.

What would give a good conformation that Price is now respecting that newly...
  • #70,527
  • Aug 4, 2010 5:42am Aug 4, 2010 5:42am
Quoting xmzhang
.. I've attached the 4H chrt, as you see my pricefeed generated a DBHLC pattern...
hello xmzhang,
if i may...

personally, if i saw this setup, there's a good chance i would've taken it.
the difference would be where we put stops. this is gbpjpy, a wild pair, so most likely i have my stop 10-20pips above the DBHLC. (but there's an equally good chance that i would've gotten stopped out too)
u can attribute getting stopped out to insufficient stop placement &/or the typical stophunt.

Next trade!
hope this helps
  • #70,528
  • Aug 4, 2010 5:56am Aug 4, 2010 5:56am
Quoting supremeChaos
hello xmzhang,
if i may...

personally, if i saw this setup, there's a good chance i would've taken it.
the difference would be where we put stops. this is gbpjpy, a wild pair, so most likely i have my stop 10-20pips above the DBHLC. (but there's an equally good chance that i would've gotten stopped out too)
u can attribute getting stopped out to insufficient stop placement &/or the typical stophunt.

Next trade!
hope this helps
Greetings Supreme,
Yes I understand, getting into a trade is easy but managing the trade is far more difficult. I still have to learn a lot.

May the force be with you,
Pipcrawler
  • #70,529
  • Aug 4, 2010 6:01am Aug 4, 2010 6:01am
hi everybody

ref MT4
EA "J16 manager"
which allows to automatically move SL to BE at specified price
and manage the position as well

would anybody please explain or link me to some full explanation on how to set data and make it work?

what "allow DLL imports" means?

any help much appreciated
Andrea
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  • #70,530
  • Aug 4, 2010 6:05am Aug 4, 2010 6:05am
Anyone noticed divergence of price and MACD, confirmed by a DBHLC pattern (not perfect, the highs differ by 3 pip) ? Could this go to PPZ 13,700 ?

May the force be with you,
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Pipcrawler
  • #70,531
  • Aug 4, 2010 6:26am Aug 4, 2010 6:26am
Quoting printer69
....
ref MT4
EA "J16 manager" ...
Hello Andrea,
u can use Google or wikipedia to learn about DLL or Dynamic Link Library.

on MT4, press F1 to go to Help.
inside Help,use the Search tool. type "DLL imports" or "DLL". it will come up with search results.
i think, in simple terms, 'allow DLL imports' will provide more functionality needed by the EA u are using.
to learn more about the J16 EA manager, PM atclarkson (EA owner).
http://www.forexfactory.com/showpost...ostcount=47845


Quoting xmzhang
Anyone noticed divergence of price and MACD, confirmed by a DBHLC pattern (not perfect, the highs differ by 3 pip) ? Could this go to PPZ 13,700 ?..
hello xmzhang, there is no divergence.
price made lower high, MACD made a lower high too. (compare with your previous chart)
1.3700? sure, it's possible. but no guarantees --- it's up to the Market.
  • #70,532
  • Aug 4, 2010 6:28am Aug 4, 2010 6:28am
hey Supreme
many thanks your help
much appreciated
Andrea


Quoting supremeChaos
Hello Andrea,
u can use Google or wikipedia to learn about DLL or Dynamic Link Library.

on MT4, press F1 to go to Help.
inside Help,use the Search tool. type "DLL imports" or "DLL". it will come up with search results.
i think, in simple terms, 'allow DLL imports' will provide more functionality needed by the EA u are using.
to learn more about the J16 EA manager, PM atclarkson (EA owner).



hello xmzhang, there is no divergence.
price made lower high, MACD made a lower high too.
1.3700? sure, it's possible. but no guarantees --- it's up to...
  • #70,533
  • Aug 4, 2010 6:55am Aug 4, 2010 6:55am
Quoting printer69
hi everybody

ref MT4
EA "J16 manager"
which allows to automatically move SL to BE at specified price
and manage the position as well

would anybody please explain or link me to some full explanation on how to set data and make it work?

what "allow DLL imports" means?

any help much appreciated
Andrea
This is how mine is set. Trades in auto without pronlems.
Setting are: When price moves 60 pips in my favor close half of a position and move to break even when price moves 60 pips in my favor
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  • #70,534
  • Aug 4, 2010 6:57am Aug 4, 2010 6:57am
BTW, anyone know how can I move my stop to NET BREAKEVEN.
Is there such an additional EA?
Will greatly appreciate!! Thanks.
  • #70,535
  • Aug 4, 2010 7:27am Aug 4, 2010 7:27am
Quoting Adilius07
BTW, anyone know how can I move my stop to NET BREAKEVEN.
Is there such an additional EA?
Will greatly appreciate!! Thanks.
Check out the 'Swiss Army EA'. I believe it can do everything... including making my dinner
WARNING: Don't follow me as I'm just learning
  • #70,536
  • Aug 4, 2010 7:27am Aug 4, 2010 7:27am
Quoting Adilius07
BTW, anyone know how can I move my stop to NET BREAKEVEN.
Is there such an additional EA?
Will greatly appreciate!! Thanks.
I am still working with J16 manager but in answer to your question I believe you would figure your first target area say +20 pips and adjust the line that says exit pips from 0 to -20

question for you..... after you set j16manger on an executed trade and you set it up.... does it work if you shut down mt4 program or log off your computer?
  • #70,537
  • Aug 4, 2010 7:30am Aug 4, 2010 7:30am
Quoting adam777
Check out the 'Swiss Army EA'. I believe it can do everything... including making my dinner
Adam, thanks I will check it out.
  • #70,538
  • Aug 4, 2010 7:31am Aug 4, 2010 7:31am
Quoting Atc
I am still working with J16 manager but in answer to your question I believe you would figure your first target area say +20 pips and adjust the line that says exit pips from 0 to -20

question for you..... after you set j16manger on an executed trade and you set it up.... does it work if you shut down mt4 program or log off your computer?
Oh I didnt even know I can insert negative value like -20. If it is possible this is all I need! Will check it out.

I think none of EA's can work with the platform being off.
  • #70,539
  • Aug 4, 2010 7:36am Aug 4, 2010 7:36am
Quoting xmzhang
Greetings Jarroo,
Thanx for taking the trouble for replying my post! http://cdn.forexfactory.com/images/icons/icon14.gif I've attached the 4H chrt, as you see my pricefeed generated a DBHLC pattern followed by a green bar which engulfed the DBHLC, the lows only differ 2 pip. If one traded this DBHLC with the SL a few pips above the high, you would have stopped out, to see price drop afterwards. Is this just bad luck or is this setup not correct ?

May the force be with you,
Be careful because we are in an uptrend right now. And remember its easier to ride the trend than go against it.

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  • #70,540
  • Aug 4, 2010 7:36am Aug 4, 2010 7:36am
Hey Supreme,
Stupid of me of course NO divergence, I took the trade (live) anyway off the 1H-TF. My first FTA was initially the 13,700 area, but during the trade I began to doubt that. On the attachement I've marked up an area where price stalled 3 times after my entry. I've closed my trade now for a 11 pip profit because price was stalling. According to you is the area that I've marked up a (small) 1H-PPZ ? (price has now retreated above my entry point)

May the force be with you,
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Pipcrawler
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