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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

  • #74,061
  • Sep 6, 2010 2:25am Sep 6, 2010 2:25am
Quoting antgal23
Hi everybody,

Can someone please explain why when I tried to put on a trade it said ' Invalid SL or TP'?

I plan to buy the eur/chf at 1.3175, SL at 1.2850 with TP at 1.3260.

Any help would be great.

Anthony

Hey Antgal23, is that wise with these two monthly open and closes at 1.3181 & 1.3182 ? Just trying to see how you are playing this one. I realize you have a 15 pip buffer on that weekly PB but, not sure about them there monthly bars sitting right above the entry.
Attached Image (click to enlarge)
Click to Enlarge Name: pic.gif Size: 27 KB
  • #74,062
  • Sep 6, 2010 2:27am Sep 6, 2010 2:27am
Quoting msmarple
Not much movement today...
( Edit : LC = Long Candle, no specific J16 bar )
Hello msmarple,
what is your interpretation of LC's? (& its significance to u)
Thanks Sir!
  • #74,063
  • Sep 6, 2010 2:33am Sep 6, 2010 2:33am
Quoting joelcf
Pros arent buying atm long expo options. They are selling them to guys like you
Yes they do
And they do write them too
  • #74,064
  • Sep 6, 2010 2:34am Sep 6, 2010 2:34am
Quoting antgal23
Hi everybody,

Can someone please explain why when I tried to put on a trade it said ' Invalid SL or TP'?

I plan to buy the eur/chf at 1.3175, SL at 1.2850 with TP at 1.3260.

Any help would be great.

Anthony
What is the ASK price when you try to put on the trade?
Could it be that the ASK price is too close to your targeted entry price?
Each broker has a min distance from market price to your pending order price. Make sure that this min distance is not violated.
  • #74,065
  • Sep 6, 2010 2:36am Sep 6, 2010 2:36am
Quoting Pinbar
Hey Antgal23, is that wise with these two monthly open and closes at 1.3181 & 1.3182 ? Just trying to see how you are playing this one. I realize you have a 15 pip buffer on that weekly PB but, not sure about them there monthly bars sitting right above the entry.
Hi Pinbar

Good point, I had planned a 1.3210 entry and then moved it under the BRN, I think the 1.3150 level was more dangerous with some highs there in the second half of August

There is a Minor PPZ at the 1.3100 level so I am hoping if price can get out of that and use the 1.3150 as support it might have a chance

Lets wait and see
  • #74,066
  • Sep 6, 2010 2:37am Sep 6, 2010 2:37am
Quoting ertorque
What is the ASK price when you try to put on the trade?
Could it be that the ASK price is too close to your targeted entry price?
Each broker has a min distance from market price to your pending order price. Make sure that this min distance is not violated.
Hi Ertorque

It was my mistake, I had it at Buy Limit when it should have been Buy Stop

Thanks

Anthony
  • #74,067
  • Sep 6, 2010 2:44am Sep 6, 2010 2:44am
Quoting antgal23
Hi Pinbar

Good point, I had planned a 1.3210 entry and then moved it under the BRN, I think the 1.3150 level was more dangerous with some highs there in the second half of August

There is a Minor PPZ at the 1.3100 level so I am hoping if price can get out of that and use the 1.3150 as support it might have a chance

Lets wait and see

I see what you mean now. Thanks for your explanation.

EDIT: That first failed weekly PB tip looks a bit naughty at 1.3189
  • #74,068
  • Sep 6, 2010 3:16am Sep 6, 2010 3:16am
Quoting Pinbar
I see what you mean now. Thanks for your explanation.

EDIT: That first failed weekly PB tip looks a bit naughty at 1.3189
Your welcome Pinbar

Yeah, the 1.3190 could cause a few problems alright, I had a choice , go 10 pips above the BRN or 25 below, I am hoping my choice doesnt mess things up

My entry was like 60 pips off the open so I am thinking maybe today we ll see a test of the 1.3150 / 1.3160 , come back and then maybe this week break the 1.3200 level
  • #74,069
  • Sep 6, 2010 3:24am Sep 6, 2010 3:24am
Quoting Pinbar
Ok, here I am on a bank holiday simulator trading. Maybe I need a hobby but, this is so interesting, who needs a hobby.

Anyway, I took the small BEOB and was stopped out, the IB4 and the massive BUOB more than made up for the SL on the first BEOB.

trading full lots just to see how the big guys feel. LOL


Wonderful this simulator.
Thats cool, is this a simulator where you can choose a date and then get the bars to appear one by one? If it is then where do i get it?
  • #74,070
  • Sep 6, 2010 3:39am Sep 6, 2010 3:39am
Currently in GBP/USD short, DTLC (double top lower close) on 1hour timeframe, nice confluence at this level.. Up 25.9 pips at time of writing will post chart when the trade is closed. entry was at 1.54379.
Thank you j16!
  • #74,071
  • Sep 6, 2010 3:42am Sep 6, 2010 3:42am
Quoting ekling
Thats cool, is this a simulator where you can choose a date and then get the bars to appear one by one? If it is then where do i get it?
I would also be very interested in such a simulator for testing. Backtesting immediatly makes me fall asleep, forward testing simulation is much more exciting.
Thank you j16!
  • #74,072
  • Sep 6, 2010 3:51am Sep 6, 2010 3:51am
Quoting ekling
Thats cool, is this a simulator where you can choose a date and then get the bars to appear one by one? If it is then where do i get it?
Quoting anderou
I would also be very interested in such a simulator for testing. Backtesting immediatly makes me fall asleep, forward testing simulation is much more exciting.
This is the best free solution I know of http://www.forexfactory.com/showthread.php?t=60849

Jonny
  • #74,073
  • Sep 6, 2010 3:58am Sep 6, 2010 3:58am
okay, trade is closed. Very nice dtlc. Nice confluence. Closed conservatively. These intraday setups off ppz are gold if you wait for super a+ setups. Comments as allways welcome.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd 1hour dtlc.gif Size: 35 KB
Thank you j16!
  • #74,074
  • Sep 6, 2010 4:02am Sep 6, 2010 4:02am
Quoting anderou
okay, trade is closed. Very nice dtlc. Nice confluence. Closed conservatively. These intraday setups off ppz are gold if you wait for super a+ setups. Comments as allways welcome.
Anderou,
That was one super trade! A few like this per month all one needs!!!
  • #74,075
  • Sep 6, 2010 4:18am Sep 6, 2010 4:18am
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
Isnt DTLC same as DBHLC?
Or are they different?
I have seen the enemy, and it is me.
  • #74,076
  • Sep 6, 2010 4:30am Sep 6, 2010 4:30am
Quoting Jey
Isnt DTLC same as DBHLC?
Or are they different?
Yip same thing Jey, sorry if I've caused any confusion.
Thank you j16!
  • #74,077
  • Sep 6, 2010 5:08am Sep 6, 2010 5:08am
Quoting ekling
Thats cool, is this a simulator where you can choose a date and then get the bars to appear one by one? If it is then where do i get it?

Here you go.

Just copy all the files in the scripts zip to the experts/scrips folder and put the file in the experts zip, into the expert folder of your MT4.

There was an automatic installer but it never works so, I removed it.
Attached File(s)
File Type: zip Trading Simulator.zip   368 KB | 451 downloads
  • #74,078
  • Sep 6, 2010 5:22am Sep 6, 2010 5:22am
Quoting Pinbar
Here you go.

Just copy all the files in the scripts zip to the experts/scrips folder and put the file in the experts zip, into the expert folder of your MT4.

There was an automatic installer but it never works so, I removed it.
Hello Pinbar, may I ask.
I can choose any date say August 16th and this simulator will copy the PA exactly as it was on that day??
  • #74,079
  • Sep 6, 2010 5:31am Sep 6, 2010 5:31am
Quoting Adilius07
Hello Pinbar, may I ask.
I can choose any date say August 16th and this simulator will copy the PA exactly as it was on that day??

You can chose any date to start from and skip to any date you like.

have fun.


The only thing I don't like about it is, you can not switch time frames once you have chosen the time frame and the largest TF you can choose is the daily.

The thing to do is, save a template with your PPZ on it and then recall the template for that specific pair after you start the simulator.
  • #74,080
  • Sep 6, 2010 5:34am Sep 6, 2010 5:34am
Quoting Pinbar
You can chose any date to start from and skip to any date you like.

have fun.
wow awesome!!! thank you very much!!
My weekends would not be pointless any more!!
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