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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

  • #73,741
  • Sep 2, 2010 8:17am Sep 2, 2010 8:17am
Quoting Jonnyislost
I have a pending order above this USD/CAD 1 HOUR BUOB (the order is just above that mini price flip)
has it been triggered already?
careful with immediate traffic 1.0530 -1.0570area (today's high &upwards).
  • #73,742
  • Sep 2, 2010 8:20am Sep 2, 2010 8:20am
Quoting supremeChaos
has it been triggered already?
careful with immediate traffic 1.0530 -1.0570area (today's high &upwards).
Yeah i'm in.. I felt the bar had enough momentum to push through the more immediate traffic but we'll see.
I'll cut it out for a loss if we cruise back through the BRN
I don't think I'll be holding this for long whether it's a winner or looser
  • #73,743
  • Sep 2, 2010 8:35am Sep 2, 2010 8:35am
Quoting Pbt
....
i was using j16manager EA, but some time really want an EA that can move SL more than once. so found these 2, i tried both, either working fine...
Hello Pbt,
im sure MT4 live account users will try these trade management EAs out. (i trade a non-MT4 platform for now..)
thanks for sharing & Welcome!
  • #73,744
  • Sep 2, 2010 9:29am Sep 2, 2010 9:29am
Quoting Pinbar
You know, fussing over you and taking care of you.

I read that you need complete rest for a month after recovering from Dengue fever, no matter how light it was.

33C wow, it seems like it would feel cool after this heat here.
As i see it from the picture is about 37C. Are you sure that you didnt measure your body temperature PB?

Just kiddin' a little. Its really hot in Japan. Id never thought the temperatures are so high there. I had luck and last sunday finally started to rain and now we have about 25C instead of 35C (previous week)
  • #73,745
  • Sep 2, 2010 9:42am Sep 2, 2010 9:42am
  •  jdl
  • | Joined Oct 2006 | Status: going to master this or die trying | 101 Posts
Like everyone, when I see a possible setup I go through a checklist of items to validate the quality of the trade. One thing I like to know is "how have bars that look like this one done in the past?" For example, you might find that BEOBs that look like the current BEOB have historically done really well. Or you might find that pin bars that look like the current pin bar usually need to be much bigger to do well.

To help speed up that investigation process I created a script to flag all historical setups on a chart. You drag it on the chart, tell it which setups you are looking for, and it runs once.

This does NOT mean these historical setups were valid "make a trade" setups! It just means those bars technically met the setup definitions. You will see many that you will immediately decide you would never have traded.

If you find a logic error or find a better way to define the setups please let me know. (It's hard to define a pinbar setup in code so I used some code I found elsewhere.) Also the code is there for you to modify as you like. It works on all timeframes but the markers only display on the timeframe you are working on.

I wrote a second script to remove all the flags created by the first script. See the attached text file for instructions. I hope this gives you one more tool is assessing setups.
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Attached File(s)
File Type: txt flagPAs_help.txt   3 KB | 570 downloads
File Type: mq4 flagPAs.mq4   10 KB | 567 downloads
File Type: mq4 deleteSetupArrows.mq4   1 KB | 467 downloads
  • #73,746
  • Sep 2, 2010 9:43am Sep 2, 2010 9:43am
Quoting Pinbar
Yeah, I am watching EU ranging on H4 and looking at the H1 BUOB, if it closes as such. Looks like it just broke out of the 1.2800 area, just waiting for a retest with some PA.
It seems like the price is heading down for the last month... Right now we're in a little consolidation area. Will be definitely looking tomorrow what happens after the NFP news release.

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  • #73,747
  • Sep 2, 2010 9:53am Sep 2, 2010 9:53am
Haha, I don't believe it, I cheated the broker!!

There was a news release little ago in Natural Gas Storage. I was just watching Fxpro feed and my broker's feed. Suddenly they froze the price in my broker's one while that of Fxpro was running. I quickly placed as much lots as I could and to my surprise the order did execute. And when they released the frozen price, a massive profit was there. I don't believe but that's it. I almost doubled my account within a minute.

And that was too easy!!
  • #73,748
  • Sep 2, 2010 9:54am Sep 2, 2010 9:54am
Quoting jdl
Like everyone, when I see a possible setup I go through a checklist of items to validate the quality of the trade....
To help speed up that investigation process I created a script to flag all historical setups on a chart. You drag it on the chart, tell it which setups you are looking for, and it runs once. ....
sounds like an interesting PA script.
thanks for sharing!
  • #73,749
  • Sep 2, 2010 9:57am Sep 2, 2010 9:57am
Quoting The Lord
Haha, I don't believe it, I cheated... I almost doubled my account within a minute.
which one was your broker? GCI?
Good for u!
  • #73,750
  • Sep 2, 2010 9:59am Sep 2, 2010 9:59am
Quoting supremeChaos
which one was your broker? GCI?
Good for u!
No Sir. I already switched to AvaFx. I forgot to change in my profile.
  • #73,751
  • Sep 2, 2010 10:03am Sep 2, 2010 10:03am
Quoting Jonnyislost
I have a pending order above this USD/CAD 1 HOUR BUOB (the order is just above that mini price flip)

So far not enough momentum to break the day-high so I cut it for breakeven.

It may still work but it's not worth my money anymore
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  • #73,752
  • Sep 2, 2010 10:04am Sep 2, 2010 10:04am
Quoting The Lord
Haha, I don't believe it, I cheated the broker!!

There was a news release little ago in Natural Gas Storage. I was just watching Fxpro feed and my broker's feed. Suddenly they froze the price in my broker's one while that of Fxpro was running. I quickly placed as much lots as I could and to my surprise the order did execute. And when they released the frozen price, a massive profit was there. I don't believe but that's it. I almost doubled my account within a minute.

And that was too easy!!
Nice one, congrats! Right time, right place I'd say

I don't have a gas on my FXPro demo platform. Someone mentioned few days ago that he's been watching S&P E-Minis on FXPro but I don't have those as well. Are these charts real account only?
  • #73,753
  • Sep 2, 2010 10:11am Sep 2, 2010 10:11am
Quoting supremeChaos
u mean drawing PPZs in Daily to Monthly?
i think, in a little way, it is confluence.
alright. think i'll keep it there.
  • #73,754
  • Sep 2, 2010 10:17am Sep 2, 2010 10:17am
Quoting The Lord
Haha, I don't believe it, I cheated the broker!!

There was a news release little ago in Natural Gas Storage. I was just watching Fxpro feed and my broker's feed. Suddenly they froze the price in my broker's one while that of Fxpro was running. I quickly placed as much lots as I could and to my surprise the order did execute. And when they released the frozen price, a massive profit was there. I don't believe but that's it. I almost doubled my account within a minute.

And that was too easy!!
What would you have done if they opened your orders where price actually was instead of the frozen price? Would have been in a trade with extremely high risk and no plan.

I'm guessing you're using demo...cause if that was real money I sure wouldn't even think of doing something like that.
  • #73,755
  • Sep 2, 2010 10:21am Sep 2, 2010 10:21am
Quoting mihazupan1
Nice one, congrats! Right time, right place I'd say

I don't have a gas on my FXPro demo platform. Someone mentioned few days ago that he's been watching S&P E-Minis on FXPro but I don't have those as well. Are these charts real account only?
Thanks.

It's there Sir. The code of natural gas is 'NGV0' (V0 is the running contract). S&P is also there with some code. Just check one by one.
  • #73,756
  • Sep 2, 2010 10:22am Sep 2, 2010 10:22am
the orange horizontal line is the monthly PPZ, white is the weekly and yellow is the daily.


am i putting my buy stop too faraway?

is my PPZ alright? how do i differentiate minor and major PPZ? cus i seem to have a few PPZ.
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  • #73,757
  • Sep 2, 2010 10:24am Sep 2, 2010 10:24am
eur/cad buob on h4.
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meine augen sind die sterne
  • #73,758
  • Sep 2, 2010 10:24am Sep 2, 2010 10:24am
Quoting jarroo
Great video Ace . .. I like your way of thinking.


Just to add some other confluences . . not to say you didn't get the important ones or to take away from your great analysis, Ace.

Weekly Highs/Lows (and Monthly Highs/ Lows) can be great levels of Support or Resistance. . . .probably because many traders watch them.

Price broke through the Weekly Low and the 1.6000 last week, good chance that this area will now act as Resistance. The 4 hour PB (my other trade on this pair) was a good indication of this Resistance.

There was...
Quoting jarroo
A J16er would say that your IB hit its targets, previous bars highs, nice Space . . . just a quick thought Ace.
Thanks jarro! I like all the charts you're posting and the extra analysis your adding to my own. Keep it coming
  • #73,759
  • Sep 2, 2010 10:24am Sep 2, 2010 10:24am
Quoting Ace284
What would you have done if they opened your orders where price actually was instead of the frozen price? Would have been in a trade with extremely high risk and no plan.

I'm guessing you're using demo...cause if that was real money I sure wouldn't even think of doing something like that.
There is no chance for that in AvaFx sir (though it could have been with GCI). If the order has to be in a different price than that quoted, it just pops out a small window to accept the new price. Otherwise it just cancels the order.
  • #73,760
  • Sep 2, 2010 10:26am Sep 2, 2010 10:26am
Quoting The Lord
Thanks.

It's there Sir. The code of natural gas is 'NGV0' (V0 is the running contract). S&P is also there with some code. Just check one by one.
I don't see it

Besides forex pairs there's only a bunch of CFDs and gold & silver.
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