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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

  • #73,241
  • Aug 29, 2010 11:32pm Aug 29, 2010 11:32pm
Does anyone know. When my order is hit on MT4 there is no sound, nothing. Is there some way to make a sound alert when my order is hit? Thanks.
I know I can use manual alerts. But that's just not convenient for me. Is there such an EA maybe which I will not see but which will make it sound...
  • #73,242
  • Aug 29, 2010 11:39pm Aug 29, 2010 11:39pm
Quoting novice198
....
You mean you gave up Cereals in college.
....
no he meant he gave up college like i did (i tried to sneak a calculus book out of the library...i was too eager to study for the exams)



nice to see everyone back. lol
a short hiatus after getting sick & hospitalized
  • #73,243
  • Aug 29, 2010 11:55pm Aug 29, 2010 11:55pm
Quoting supremeChaos
no he meant he gave up college like i did (i tried to sneak a calculus book out of the library...i was too eager to study for the exams)



nice to see everyone back. lol
a short hiatus after getting sick & hospitalized

Wow....Supreme...Are you ok now?

Hope you made a full recovery.
  • #73,244
  • Aug 30, 2010 12:00am Aug 30, 2010 12:00am
Quoting mbqb11
FTA = blue box minor PPZ

Notice the 85 mark is very important to hold and if it gives most likely this won't play out as expected. Good to see it close above 85 but would have like a stronger close and bigger nose. I will be watching the 85 mark on the lower timeframes closely though
Mike , what do you mean stronger close ?

should the formation of the pin at the end of the bar, leaving a little to no wic at the top ?

or/and
Should the close of the bar be above the open ? making it green pin instead of red pin ?

On FXDD, the pin was formed almost at the end of the bar but the the close was NOT above the open.
  • #73,245
  • Aug 30, 2010 12:01am Aug 30, 2010 12:01am
Quoting Adilius07
Does anyone know. When my order is hit on MT4 there is no sound, nothing. Is there some way to make a sound alert when my order is hit? .....
have u tried MT4's default alerts?
check MT4's Help (press F1). using the Search tool, type "alert". read up on the articles..
  • #73,246
  • Aug 30, 2010 12:05am Aug 30, 2010 12:05am
Quoting Pinbar
...
Hope you made a full recovery.
i believe ongoing full recovery.
Many thanks,Sir.


Quoting cprao
Mike , what do you mean stronger close ?
....
i think, with 'stronger close', he meant he wanted the close above the open (plus bigger nose)
  • #73,247
  • Aug 30, 2010 12:14am Aug 30, 2010 12:14am
Quoting mbqb11
those who like retracement entries, how about a buy around 85 /84.90 area and a stop under the two lows? Something like a 40 pt stop for a potential HUGE move up?
Hi Mike,

Scenario you have mentioned looks like will work out much better. I did not wait for retracement and entered at the break of the pin bar ( thinking that is more conservative entry than retracement ) and now I see there is an inverted pin.
May be not very good inverted pin ( compared to bullish weekly pin ) but still a rejection of the higher price. How do you generally play these? Especially when there are 2 pins following each other ( with different biases)? I guess bullish pin bar is way more stronger than the inverted pin so I am still bullish , but would love hear your thoughts.

cheers
p.s. still demo account , so nothing lost :-) only knowledge to be gained.
  • #73,248
  • Aug 30, 2010 12:38am Aug 30, 2010 12:38am
Quoting bug
I've been keeping an eye on the 10 and 30 year for a few weeks now (ever since the talk about QE2 began) and what do you know, we have something quite interesting going on on the weeklies and dailies.
Stay with them. IR futures are my absolute favourite things to trade - they move smoothly and predictably, and there are so many things you can do with them aside from straight vanilla trading. If I had to pick one instrument for someone new dropping down timeframes, it would be the ZTs or ZFs.

Dont touch the 30s much for just PA trading, but the 2s and 10s are my friends.

Quoting supremeChaos
i believe ongoing full recovery.
Good to see you back, buddy


*edit* sorry to the couple of people I havent PMd back, moving house and so therefore largely internetless.
When you have to shoot, shoot. Dont talk.
  • #73,249
  • Aug 30, 2010 12:39am Aug 30, 2010 12:39am
Quoting supremeChaos
i believe ongoing full recovery.
Many thanks,Sir.



i think, with 'stronger close', he meant he wanted the close above the open (plus bigger nose)
Thank you SC.

Wish you a speedy recovery.
  • #73,250
  • Aug 30, 2010 1:15am Aug 30, 2010 1:15am
Good morning all,

Missed a BUOVB on gbp/jpy daily. I knew I was going to miss it though, had to sleep and couldn't wait up for the market to open. Price came up near my projected level and then failed. I guess in the future I should set an alarm.
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Thank you j16!
  • #73,251
  • Aug 30, 2010 1:24am Aug 30, 2010 1:24am
Quoting anderou
Good morning all,

Missed a BUOVB on gbp/jpy daily. I knew I was going to miss it though, had to sleep and couldn't wait up for the market to open. Price came up near my projected level and then failed. I guess in the future I should set an alarm.
I don't think you missed much, it was at a swing high, below a PPZ & RN, where we want to see a BEOB.
Sure, it worked out but, was it really worth the SL?
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  • #73,252
  • Aug 30, 2010 1:31am Aug 30, 2010 1:31am
Quoting Pinbar
I don't think you missed much, it was at a swing high below a PPZ & RN, where we want to see a BEOB.
Yip looking at your chart I might have got my ppz levels a bit wrong. That's why you don't interpret charts when tired.. Thanks for the opinion Pinbar.
Thank you j16!
  • #73,253
  • Aug 30, 2010 1:46am Aug 30, 2010 1:46am
Quoting anderou
Yip looking at your chart I might have got my ppz levels a bit wrong. That's why you don't interpret charts when tired.. Thanks for the opinion Pinbar.

Weekly Bullish PB though.

Maybe this is just the retrace.
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  • #73,254
  • Aug 30, 2010 1:52am Aug 30, 2010 1:52am
Quoting Adilius07
here
So it just need te be engulfed by the prior bar and not all 4 of them?
  • #73,255
  • Aug 30, 2010 2:02am Aug 30, 2010 2:02am
Quoting michal7
Maybe if someone is interested, I'm gonna share how my trading is going... I found interest in trading at the end of 2008... found j16 thread/method in november 2009... stutied a lot.. I opened demo account with amount of 10000 euros in March 2010... this is how it went:
That is truly amazin, tell my. Did you play the daily and weekly timeframe only or did you scale down to 4 hour to?
  • #73,256
  • Aug 30, 2010 2:25am Aug 30, 2010 2:25am
Quoting jdl
Packhorse, what did you set your stop loss to and why? I have not traded on the weekly, am a bit nervous about the big range. Thanks.
Hi Jdl,

Sorry to take a while to get back to you; I am in the UK and have been asleep until now.

As I said earlier, I normally trade daily Pinbars, this is my first weekly PB trade, therefore I am a little nervous aswell.

With regrds stop loss, yes, using strict J16 rules, setting the SL behind the bottom of the pin is a lot of potential loss if the trade fails. My thoughts in setting the SL were:

1. How much am I prepared to lose if it goes wrong.
2. There is a BRN to protect me at 85.00; there is also a monthly support level at 85.18 and a yearly pivot support at 84.82. In other words, quite a lot for the price to get through before it can get to my SL which I set 150 pips away.

I expect that I might be criticised for not setting the SL beyond the end of the wick, but it suits my own circumstances.

See how it goes

All the best

Glynn
"Fail to prepare, prepare to fail."
  • #73,257
  • Aug 30, 2010 2:31am Aug 30, 2010 2:31am
Quoting Pinbar
Packhorse


You watching the FTA at 85.86?
Hi Pinbar,

Been asleep, therefore, only just picked up your post. Looks as though the price went up close to the 85.86 level and then retreated.
Looks as though it is recovering a bit now, and, as it is a weekly trade, I need to be patient with this one. Keep your fingers crossed for me.

Glynn
"Fail to prepare, prepare to fail."
  • #73,258
  • Aug 30, 2010 2:43am Aug 30, 2010 2:43am
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
Quoting anderou
Good morning all,

Missed a BUOVB on gbp/jpy daily. I knew I was going to miss it though, had to sleep and couldn't wait up for the market to open. Price came up near my projected level and then failed. I guess in the future I should set an alarm.
Seems like BEOB to me. Hope I am not wrong....?
I have seen the enemy, and it is me.
  • #73,259
  • Aug 30, 2010 2:55am Aug 30, 2010 2:55am
Quoting packhorse
Hi Pinbar,

Been asleep, therefore, only just picked up your post. Looks as though the price went up close to the 85.86 level and then retreated.
Looks as though it is recovering a bit now, and, as it is a weekly trade, I need to be patient with this one. Keep your fingers crossed for me.

Glynn

PH

Yeah, I am rooting for you man.
this is demo, right?

Where is your SL, below the bar?

It seems to be testing the left eye for support.


hey, where in the UK are you from, I am from Macclesfield.
Although, I have not been back to the UK for many, many Moons.

PS: BOJ made some puny speech about the rising Yen today.
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  • #73,260
  • Aug 30, 2010 2:59am Aug 30, 2010 2:59am
Quoting Pinbar
PH

Yeah, I am rooting for you man.
this is demo, right?


hey, where in the UK are you from, I am from Macclesfield.
Although, I have not been back to the UK for many, many Moons.
I am from Worcester Pinbar. Went to Macclesfield once to see my football team play yours. Did I see you are in Japan now? How did you end up that far away from the UK?

No it is not a demo trade..............my own hard earned money.

All the best

Glynn
"Fail to prepare, prepare to fail."
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