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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

  • #73,381
  • Aug 31, 2010 12:45am Aug 31, 2010 12:45am
Quoting The Lord
Currently, I am in this trade with my broker. Already moved to breakeven.

Nice one with the trend and against a resistance. A clean traffic and a good FTA distance.

Attachment
Hi Lord,
Congratulation !! great feeling when you are riding a risk free trade :-).

Out of curiosity and to learn from you, what made you move the stop to BE ( any specific criteria that has worked for you?) Considering clean traffic and good FTA distance ( and with the trend ) would you still use conservative method to move the stops to BE?

Not trying to question your method,just trying to learn from what others are doing :-)

cheers mate!!
  • #73,382
  • Aug 31, 2010 1:01am Aug 31, 2010 1:01am
Oh man i injured a little bit with those weekly pins.. Back to training!
Nuc
  • #73,383
  • Aug 31, 2010 1:05am Aug 31, 2010 1:05am
Quoting Imphilomath
Hi Lord,
Congratulation !! great feeling when you are riding a risk free trade :-).

Out of curiosity and to learn from you, what made you move the stop to BE ( any specific criteria that has worked for you?) Considering clean traffic and good FTA distance ( and with the trend ) would you still use conservative method to move the stops to BE?

Not trying to question your method,just trying to learn from what others are doing :-)

cheers mate!!
I move to breakeven as soon as I see 30 pips in my favor (no matter how big the target is).
  • #73,384
  • Aug 31, 2010 1:14am Aug 31, 2010 1:14am
Quoting The Lord
I move to breakeven as soon as I see 30 pips in my favor (no matter how big the target is).
thanks Lord:-)
  • #73,385
  • Aug 31, 2010 1:28am Aug 31, 2010 1:28am
Hi all,

I was looking for some easier way of maintaining journal entries.Definitely excel is a very good ( and free) option if we do not want to spend money on softwares. I wanted to keep images/screenshots as well. (May be you already know) but I found following was easier way to embed images in excel as comments. This way when I 'mouse over' the trade entry, it shows screenshots I have embeded. Of course, eventually it will create a massive excel with all the images in it :-). When I am not on the cell, I can look at all the supporting trade data in normal excel columns ( like entry,exit, reason for entry, reason for exit, learnings etc)

This is what worked for me,
-Right-click on the cell and insert Comment
-Double-click on the border of the comment
-Choose the Colors and Lines tab, fill section, click the drop-down for Color
-Choose Fill Effects, in Picture , then 'Select Picture'
-Choose your picture and click Insert and click OK

Do you guys use any particular way/software to maintain your journal?

cheers
  • #73,386
  • Aug 31, 2010 2:32am Aug 31, 2010 2:32am
Quoting jarroo
Hey Pb remember this post . . .




Pretty cool don't you think . . ?



I hear you Jarroo, and have been drawing PPZ all day from morning to night while my head is gone with this heat.

Phew, almost September here and 38C again today, with 34C for the next week.
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  • #73,387
  • Aug 31, 2010 2:39am Aug 31, 2010 2:39am
Quoting melvin87
Thanks for the link bug!

Wow! Excellent video mike! Helped me understand space a lot better.

By the way, am i the only one unable to get access to the guest material on the j16 group webpage. Can only seem to open the last 3 links in james' column.
Hmm... there's no problem on my side. I use Firefox so I can't really comment on other software.
If you don't risk, you don't ever have to lose.
  • #73,388
  • Aug 31, 2010 3:47am Aug 31, 2010 3:47am
Quoting Pinbar
I hear you Jarroo, and have been drawing PPZ all day from morning to night while my head is gone with this heat.

Phew, almost September here and 38C again today, with 34C for the next week.
Try the South African lowveld region in mid summer(Kruger National Park), luckily I don't live there. But I vissit there regularly, it is not uncommon for temp to rise above 40, I've been there when it was 44. I can't imagine working in such conditions, invest in an aircon for your office.
Thank you j16!
  • #73,389
  • Edited 4:01am Aug 31, 2010 3:48am | Edited 4:01am
Quoting benji533
Someone else cached this baby on eurjpy?
Look how deeply it tested that consolidation box and closed as a beob
.
UJ behaved as well

NZDUSD 1H looks interesting right now..lets see the close
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  • #73,390
  • Aug 31, 2010 4:02am Aug 31, 2010 4:02am
Quoting anderou
Try the South African lowveld region in mid summer(Kruger National Park), luckily I don't live there. But I vissit there regularly, it is not uncommon for temp to rise above 40, I've been there when it was 44. I can't imagine working in such conditions, invest in an aircon for your office.

Of course I have an aircon and am using it, the trouble is the aircon kind of spaces me out.
  • #73,391
  • Aug 31, 2010 4:17am Aug 31, 2010 4:17am
i would like to ask, is the chapters in Martin Pring's book Pring on Price Pattern important to forex trading? because i'm really having a hard time to digest what pring is saying about the price moving with the volumes.
  • #73,392
  • Aug 31, 2010 4:39am Aug 31, 2010 4:39am
Greetings all, can anyone please assist with the 2 indicators above.
  • #73,393
  • Aug 31, 2010 4:52am Aug 31, 2010 4:52am
Quoting premierpip
i would like to ask, is the chapters in Martin Pring's book Pring on Price Pattern important to forex trading? because i'm really having a hard time to digest what pring is saying about the price moving with the volumes.
depends on how u view volume (if it is useful or not for u) in a decentralized market like FX.
volume is simply supply & demand (sellers & buyers).
for example, a bullish pinbar with long nose & high volume. this would indicate that buyers (demand) stepped in on the lows (creating that nose/tail)
  • #73,394
  • Aug 31, 2010 4:54am Aug 31, 2010 4:54am
Quoting lafemo
...can anyone please assist with the 2 indicators above.
do u mean u are looking for such indicators?
try these

clock
http://www.forexfactory.com/showpost...ostcount=35190
http://www.forexfactory.com/showthread.php?t=109305

RN plotter
here & here
  • #73,395
  • Aug 31, 2010 4:59am Aug 31, 2010 4:59am
Hi!
Please correct me if I'm wrong, but this seems to me like a valid long entry on EUR/USD

- Confluence: fibs + ppz on Daily chart
- bullish engulfing pattern on 3H

- on the other Hand there could be some resistance at 1.2700!

Hope to get some feedback!

- Very inspiring thread by the way! Thank you!
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  • #73,396
  • Aug 31, 2010 5:00am Aug 31, 2010 5:00am
@supremechaos

means that i dont have to use a volume indicator to confuse myself any further? because the size of the bar does all the saying about volume?
  • #73,397
  • Aug 31, 2010 5:05am Aug 31, 2010 5:05am
Quoting premierpip
@supremechaos

means that i dont have to use a volume indicator to confuse myself any further? because the size of the bar does all the saying about volume?
The volumes you see on Mt4 are basically just calculations of tick movements per period. So every bar that you see on that indi is a calculation of the number of pip movements that price underwent in that period.

It obviously is up to you if you want that indi on but really all the volatility indications you need can be seen on the charts and in your price bars (big bars, whippy price action are all examples of high volatility)

g.
I believe . . .
  • #73,398
  • Aug 31, 2010 5:05am Aug 31, 2010 5:05am
A nicely sized countertrend BUOB at a swinglow of the 1H-TF of the E-U. FTA would be at the 1H-PPZ at 12690-ish. Notice also the nice confluence with the floor pivotpoints S1 and Piv.
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Pipcrawler
  • #73,399
  • Aug 31, 2010 5:12am Aug 31, 2010 5:12am
Quoting premierpip
@supremechaos

means that i dont have to use a volume indicator to confuse myself any further? because the size of the bar does all the saying about volume?
Hey PP

There are many traders who advocate the use of volume with their trading, even in Forex, There are many ways in which it can be used as an added piece of information when trying to interpret price bars.
(For example an up bar with lower relative volume, may indicate the move is not sustainable as there is not much "conviction" behind the move)

However as supremeC says, Unlike the stock market, Forex is not traded through one single exchange, therefore there is no volume data available, for a given currency pair.
The closest we have is "Tick volume" which simply counts the number of ticks (up and down) within a given timeframe. Although this may be closely correlated to the "real" volume, it's questionable how accurate it actually is.

For more information do a google search for "VSA" (Volume spread analysis)
Personally I don't use it in my trading. I feel that good bars in good locations is all we need for success in this game

Jonny
  • #73,400
  • Aug 31, 2010 5:15am Aug 31, 2010 5:15am
Here's a trade I took on Gu this morning recorded this too for all the good souls here

(don't forget to hit the 730p HD button)

Inserted Video
I believe . . .
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