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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

  • #71,561
  • Aug 13, 2010 9:39am Aug 13, 2010 9:39am
Quoting goldtrader
You need the lower swing or more consolidate swing to buy with that price action or you better buy it at the second low, i think these will make you a better chance...
yes I agree gold, that is what I was showing with my large blue PPZ line too, I forgot to mention that
  • #71,562
  • Aug 13, 2010 9:40am Aug 13, 2010 9:40am
Quoting gmfxnut
What seems to have happened to the New James16 guest chat room....nobody seems to be using it?
I think if they had it set up so people could post charts and mark them up in real time for analis it would be a huge hit.
  • #71,563
  • Aug 13, 2010 9:40am Aug 13, 2010 9:40am
Quoting FxMatt
Hi guys,

I set a trade 10 pips or so above the high of the BEOB on the 4 hour chart. Order opened by a pip or so and then came back to stop me out. What can I learn from this? Welcome all input.

Thanks
Matt
Hi,

if I may:
I guess you are talking about the BUOB.
It almost ran into the breakout of the consolidation area below 1.05.
Also it just came down from the upper TL and from a .5 fib (not sure if I draw it correctly though).
Its not a BUOB on my chart.
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  • #71,564
  • Aug 13, 2010 9:43am Aug 13, 2010 9:43am
Quoting spookie94
I think if they had it set up so people could post charts and mark them up in real time for analis it would be a huge hit.
James has tried to find a solution for that, but that is tough. When you get 40 people in there all trying to post a chart I don't see how well that works. Seems better suited for analysis on this thread. We get it going often at night for a few hours have some nice chats. The private side we have the software for talking/sharing charts.

It's just a spot to hang out and chat
  • #71,565
  • Aug 13, 2010 9:49am Aug 13, 2010 9:49am
Quoting mbqb11
James has tried to find a solution for that, but that is tough. When you get 40 people in there all trying to post a chart I don't see how well that works. Seems better suited for analysis on this thread. We get it going often at night for a few hours have some nice chats. The private side we have the software for talking/sharing charts.

It's just a spot to hang out and chat
Ive seen it done. Quite nice. You just need to use a little common curtiousy and take turns. The application I saw it on used JAVA. Couldn't tell any more, not a programmer. Uses a 'white board' so others can add to the charts and mark them up as needed.
  • #71,566
  • Aug 13, 2010 9:50am Aug 13, 2010 9:50am
Quoting Jonnyislost
I use this one for that close;

http://www.thecollectivefx.com/membe...pages/FreeDemo

No idea who they are but they offer a ton of pairs
thanks! looks like a bucket shop but ok for demo...
meine augen sind die sterne
  • #71,567
  • Aug 13, 2010 9:53am Aug 13, 2010 9:53am
Quoting spookie94
Ive seen it done. Quite nice. You just need to use a little common curtiousy and take turns. The application I saw it on used JAVA. Couldn't tell any more, not a programmer. Uses a 'white board' so others can add to the charts and mark them up as needed.
well if someone know shoot James an email he will look into anything he thinks is good and will add benefit.
  • #71,568
  • Aug 13, 2010 9:57am Aug 13, 2010 9:57am
Quoting aserbfx
thanks! looks like a bucket shop but ok for demo...
Haha yeah looks like it, I haven't traded with them, even on demo, Just watch their charts
  • #71,569
  • Aug 13, 2010 9:59am Aug 13, 2010 9:59am
Quoting mbqb11
well if someone know shoot James an email he will look into anything he thinks is good and will add benefit.
Saw it on web site Forex 4noobs.
  • #71,570
  • Aug 13, 2010 10:01am Aug 13, 2010 10:01am
Quoting FxMatt
Hi guys,

I set a trade 10 pips or so above the high of the BEOB on the 4 hour chart. Order opened by a pip or so and then came back to stop me out. What can I learn from this? Welcome all input.

Sorry I meant BUOB !

Thanks
Matt
If you zoom into the 1H-TF you will notice this consolidation just above your entry point. Price yesterday broke out of this range pulled back to retest the range and dropped. Price then found support at a monthly PPZ and turned again towards this previous range and found resistance again. You were buying into resistance.

May the force be with you,
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Pipcrawler
  • #71,571
  • Aug 13, 2010 10:03am Aug 13, 2010 10:03am
hey mike how would enter this one?

do you wait for a close of the last bar then a break of the first or jump in as the first bar is broken short even if it is the last bar that breaks it?
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  • #71,572
  • Aug 13, 2010 10:04am Aug 13, 2010 10:04am
Quoting spookie94
hey mike how would enter this one?

do you wait for a close of the last bar then a break of the first or jump in as the first bar is broken short even if it is the last bar that breaks it?
Hey Spookie

What is the setup you are trying to get in on? A TBH break?
  • #71,573
  • Aug 13, 2010 10:15am Aug 13, 2010 10:15am
Quoting mbqb11
Hey Spookie

What is the setup you are trying to get in on? A TBH break?
I may be looking at this wrong. I thought if you have 2 bars with equal high it could indicate a reversal low. If so I thought a break low of the 1st bar would be an entry pt.
  • #71,574
  • Aug 13, 2010 10:19am Aug 13, 2010 10:19am
Quoting spookie94
I may be looking at this wrong. I thought if you have 2 bars with equal high it could indicate a reversal low. If so I thought a break low of the 1st bar would be an entry pt.
Hey Spookie

Yes a TBH could mean price wants to go lower, but this is not a signal I see many people trade of. More people are waiting for a TBHLC(DBHLC) to give them an actual trading signal. You could if you feel strongly about it wait till the second of the TBH bars close and trade a break of it. A bit loose for my liking though. When a TBH breaks (to the upside ) it can also signal a continuation.

I prefer to play breaks of them when you have multiple bar highs in a row(not sure if you saw my posts on them )

Hope that helps
Mike
  • #71,575
  • Aug 13, 2010 10:31am Aug 13, 2010 10:31am
Quoting mbqb11
Hey Spookie

Yes a TBH could mean price wants to go lower, but this is not a signal I see many people trade of. More people are waiting for a TBHLC(DBHLC) to give them an actual trading signal. You could if you feel strongly about it wait till the second of the TBH bars close and trade a break of it. A bit loose for my liking though. When a TBH breaks (to the upside ) it can also signal a continuation.

I prefer to play breaks of them when you have multiple bar highs in a row(not sure if you saw my posts on them )

Hope that helps
Mike
Yeah that helps. So what your saying is I could play the break on this bar but it would be better to wait for a 3rd bar high. This may not be a good play to the short side now anyway since its Friday.
  • #71,576
  • Aug 13, 2010 10:33am Aug 13, 2010 10:33am
Quoting spookie94
Yeah that helps. So what your saying is I could play the break on this bar but it would be better to wait for a 3rd bar high. This may not be a good play to the short side now anyway since its Friday.
IF it closes the way it looks on your chart, it may even qualify as an IPB with a TBH, ghous would have to give you his review on that, but from what I know that would be a short sign as well(again I have zero experience with IPB though)

Best
Mike
  • #71,577
  • Aug 13, 2010 11:01am Aug 13, 2010 11:01am
Quoting mbqb11
yes I agree gold, that is what I was showing with my large blue PPZ line too, I forgot to mention that
I appreciate your input Mike and Gold, and agree - with a whole load of hindsight - that buying off PA around the weekly PPZ around 10300 would have been stronger. I guess that what I was seeing was a BUOB off a 4hr PPZ around 10400.

Still much for me to learn but at least I have finally broken away from playing with the lower timeframes and am learning patience.

Really appreciate everyones input. I will get this thing cracked in time.

All the best
Matt
  • #71,578
  • Aug 13, 2010 11:01am Aug 13, 2010 11:01am
I haven't posted lately due to family matters(my teenager) and have only taken' 3 trades this month, but all were positive based on the help I recieve here from reading all of your posts.

To all have a great weekend and thanks for making this a great place to be!

Special thanks to Mike, SC, Ghous, Jarroo and to the other seniors I forget to mention.

Bill
  • #71,579
  • Aug 13, 2010 11:05am Aug 13, 2010 11:05am
another question: I'm try to add the indicators for BRN and pivot points to my charts. I select each from the paper clip area at the top of this thread and save them to a file. Then I paste them into the EA area of my platform. When I try to drag them to my charts they don't go. Any suggestions?
  • #71,580
  • Aug 13, 2010 11:09am Aug 13, 2010 11:09am
Quoting spookie94
another question: I'm try to add the indicators for BRN and pivot points to my charts. I select each from the paper clip area at the top of this thread and save them to a file. Then I paste them into the EA area of my platform. When I try to drag them to my charts they don't go. Any suggestions?
Hey Spookie

Those are indicators and need to go into the Experts-Indicators folder

Then it should work fine. Be sure to restart your mt4
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