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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

  • #74,401
  • Sep 9, 2010 3:48am Sep 9, 2010 3:48am
Quoting Pinbar
Yeah, I think my FXDD is exactly as your FXPRO feed.

How does this EUR/GBP compare?
Yours and mine looks the same sir.
  • #74,402
  • Sep 9, 2010 3:53am Sep 9, 2010 3:53am
Quoting anderou
If I think it is A+ I will trade it and that's all that matters. Being picky is the difference between breaking even or being in the green.

Seeing what's going on . on the higher time frames can only help you on your lower time frame decisions. . .be it PPZ levels, other supporting or conflicting PA, etc. Like the Weekly BEOB on the Usd/Cad could have helped your decision on the Hourly . .don't you think?

Not a bad signature quote you got going there, androu.
Indicators show the past. Price Action "Indicates" the future.
  • #74,403
  • Sep 9, 2010 3:53am Sep 9, 2010 3:53am
Quoting The Lord
Yours and mine looks the same sir.

Thanks for the confirmation lord.



And thanks to Ghous for explaining the different feeds.


Got my eye on this but I see there is news in 10 mins.
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  • #74,404
  • Sep 9, 2010 3:58am Sep 9, 2010 3:58am
Quoting jarroo
Seeing what's going on . on the higher time frames can only help you on your lower time frame decisions. . .be it PPZ levels, other supporting or conflicting PA, etc. Like the Weekly BEOB on the Usd/Cad could have helped your decision on the Hourly . .don't you think?

Not a bad signature quote you got going there, androu.
Thanks jarroo,

Yes looking at the weekly now would've given me more confidence in the trade. But having a good pa setup on a weekly chart is just that, confidence, one can still easily be whipsawed out of a trade on a small time frame even if the longer time frame supports your conviction.
Still a good idea to broaden my area of expertise, thank you for the advice jarroo.
Thank you j16!
  • #74,405
  • Sep 9, 2010 4:13am Sep 9, 2010 4:13am
Quoting anderou
Thanks jarroo,

Yes looking at the weekly now would've given me more confidence in the trade. But having a good pa setup on a weekly chart is just that, confidence, one can still easily be whipsawed out of a trade on a small time frame even if the longer time frame supports your conviction.
Still a good idea to broaden my area of expertise, thank you for the advice jarroo.

Yes I understand how a Weekly setup can be mislead on the lower time frames at times.

But just starting with a Hourly PA off of a Weekly PPZ level can make a big difference, then say, a Hourly PA off a Hourly PPZ level or even a 4 hour PPZ level. Plus Price tends to run a little longer off these Higher PPZ levels.

Just something to consider, my friend.
Indicators show the past. Price Action "Indicates" the future.
  • #74,406
  • Edited 4:33am Sep 9, 2010 4:18am | Edited 4:33am
hello...i took this trade yesterday. my entry was at 1.2881 or 23% fib of big H8 BUOB that engulfed previous 16 hrs of activity, after the break. since i didn't want to be the hero picking the bottom of this huge move, i only entered with 1/3 of my total position. i felt that it had a good chance to move to FTA at 1.2940-55, which is where my TP is.... original sl @ 1.2740, now moved to 1.2775. total risk is now 0.33% of equity. current candle will close at 10am est, if i get a DLHC it will increase the strenght of reversal move.
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  • #74,407
  • Sep 9, 2010 4:23am Sep 9, 2010 4:23am
Quoting jarroo
Yes I understand how a Weekly setup can be mislead on the lower time frames at times.

But just starting with a Hourly PA off of a Weekly PPZ level can make a big difference, then say, a Hourly PA off a Hourly PPZ level or even a 4 hour PPZ level. Plus Price tends to run a little longer off these Higher PPZ levels.

Just something to consider, my friend.

Yip I agree completely. Thanks again.
Thank you j16!
  • #74,408
  • Sep 9, 2010 4:31am Sep 9, 2010 4:31am
Quoting mbqb11
I would not outright trade that daily pin, but it was part of my decision to take the 4hr continuation beob along with cad strength and gbp weakness across the board
Perfect storm ... daily pin and fundamentals at work - gave me the confidence for sure
  • #74,409
  • Sep 9, 2010 4:36am Sep 9, 2010 4:36am
Quoting pipmyride
Perfect storm ... daily pin and fundamentals at work - gave me the confidence for sure
What source do you guys use for fundamentals?
  • #74,410
  • Sep 9, 2010 4:58am Sep 9, 2010 4:58am
Quoting The Lord
I took this trade earlier. Since it was very close to BRN, i didn't take when the bar broke first. And in the second break, I decided to enter. The decision came out to be good. I have locked in at breakeven and riding it riskfree now. I think it will hit the target.

Attachment
Nice one my Lord
I believe . . .
  • #74,411
  • Sep 9, 2010 5:08am Sep 9, 2010 5:08am
Quoting jarroo
I can get use to these.
Woho! Someone's on a roll!

g.
I believe . . .
  • #74,412
  • Sep 9, 2010 5:26am Sep 9, 2010 5:26am
Nice intraday oppertunity on the 1H-TF of the Loonie, DBHLC-pattern at a swing high broke a weekly PPZ @ 10382, pulled back for a retest and took off.
Entry @ 10380, SL @ 10395, FTA @ 10360, final target daily PPZ @ 10340.
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Pipcrawler
  • #74,413
  • Sep 9, 2010 5:26am Sep 9, 2010 5:26am
Quoting bug
I can only imagine that you are targeting the 79.95 area
80,20

Quoting bug
with a stop loss just above the 85 BRN + PPZ
86,00

Quoting bug
There is also a 9 pip disconnect - the weekly lows aren't exactly 'double'
7 pips in my feed


Anyway, it seems like strong buy on dip to me

So, trying to go out @ BE
Don't give up
  • #74,414
  • Sep 9, 2010 5:28am Sep 9, 2010 5:28am
Interesting situation on the USD/CAD.

We have had minor pull backs between some really good sell offs on the pair recently which tell a story about the direction of order flow. Can we push through and make it to 1.03? I wonder what the big boys are up to...

Short on the break of the BEB that closed strongly at the 1.035 PPZ, looking for it's break and hence a move down to 1.03

g.
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I believe . . .
  • #74,415
  • Sep 9, 2010 5:59am Sep 9, 2010 5:59am
Hi guys,

I came across this software sometime ago (no affiliation) and have been using it for a while.
I love it - I can keep all my trade history to analyse later and it also keeps a great tally of my trades - much better than all the spreadsheets that I have used in the past. And if you only have one account then you can use the free version - works great with my Oanda account.

http://www.forexcontrolcenter.com/

cheers

Simon
  • #74,416
  • Sep 9, 2010 6:07am Sep 9, 2010 6:07am
Quoting ghous
Interesting situation on the USD/CAD.
...Can we push through and make it to 1.03? I wonder what the big boys are up to.....
Parity (1.00)
if that area cant hold, then possibly 0.92 - 0.95 area (area of Nov2007 low)

Let's see..

(btw... cool video, ghous!...maybe it's my turn next...so i can improve my verbal English... ROFL!!!!)
  • #74,417
  • Sep 9, 2010 6:09am Sep 9, 2010 6:09am
Quoting simoncs
Hi guys,
I came across this software sometime ago...
trade journal software?
thanks for sharing, Sir Simon!
  • #74,418
  • Sep 9, 2010 6:10am Sep 9, 2010 6:10am
Quoting mbqb11
Hey Tub

I am a bit different then most....
Thanks Mike,
To be honest I've spent most of my time trying out other ways to trade
and losing money. Now I'm getting back to the stuff that built my account in the first place. The basics.

That was a question I meant to ask a couple years ago. Your reply was perfect as always.

BTW. No way I would trade that beast while I was sleeping but it
might be fun during NY.
  • #74,419
  • Sep 9, 2010 6:13am Sep 9, 2010 6:13am
nice looking pin. bounce off EMA 150, EMA 365 and swing low. but too much traffic ahead
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  • #74,420
  • Sep 9, 2010 6:18am Sep 9, 2010 6:18am
tiny pin on H4. after a run of bearish candles. can this small pin reverse such a strong trend ? may be no.
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