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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

  • #74,721
  • Sep 14, 2010 9:02am Sep 14, 2010 9:02am
Quoting Thierry
Hi traders,

Went short after the break of the pin (trade live with other broker).

Did i something wrong, or was it just not working out (so far)?
I know the pin is a bit small compared to the other bars but bounce of a nice ppz. Did i mark the ppz areas well on this chart?

Thanks,
Thierry
Hey T

These are the bars that worry me the most

This is a very small pinbar counter the strong recent trend. So we have to ask ourselves why price should really want to move lower here becides just showing a small pinbar. Remember the bars are nothing more then our trigger points from our confluence/locations(ala benjis trade above). Also I noted the very very first trouble area which we can't ignore if we do want to play such a tiny pin by itself. Another note is that the prior bar is actually a sunday bar and if we ignore it like James does then the pin is actually not much of a pin as it didn't close within the prior bar. Other then that your PPZ are fine, but I would like to see a much larger bar or a more clear test of the top PPZ to really suggest us to move lower. This is a small bar that we can only really expect a small move and then we must be very very quick to b/e or cut out fast which in my eyes makes it too tricky here.

Hope that helps
Mike
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  • #74,722
  • Sep 14, 2010 9:02am Sep 14, 2010 9:02am
I'm wating for GBP/AUD to give us an nice big BUOB engulfing this recent consolidation around the 1.6500
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  • #74,723
  • Sep 14, 2010 9:07am Sep 14, 2010 9:07am
Quoting Jonnyislost
I'm wating for GBP/AUD to give us an nice big BUOB engulfing this recent consolidation around the 1.6500
nice pair to watch I am as well , can't forget parity on usd/chf J too
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  • #74,724
  • Sep 14, 2010 9:07am Sep 14, 2010 9:07am
Thanks a lot Mike and Supreme!
Still learning, but its worth it and it just fun to watch charts
  • #74,725
  • Sep 14, 2010 9:15am Sep 14, 2010 9:15am
how about this BEOB ? Good looking, at swing high, space to left. i am planning to enter on retracement upto the bullish candle low prior to BEOB candle (we are almost there). where could be the FTA ?
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  • #74,726
  • Sep 14, 2010 9:15am Sep 14, 2010 9:15am
Quoting mbqb11
... can't forget parity on usd/chf J too
DONE!
usdcad next hahah
  • #74,727
  • Sep 14, 2010 9:17am Sep 14, 2010 9:17am
Quoting mbqb11
nice pair to watch I am as well , can't forget parity on usd/chf J too
True Mike, talk about BRN
  • #74,728
  • Sep 14, 2010 9:20am Sep 14, 2010 9:20am
I was reading something from the "single world currency" conspiracy theorists that it's no coincidence that most currency pairs are generally converging towards parity
  • #74,729
  • Sep 14, 2010 9:20am Sep 14, 2010 9:20am
Quoting roundrock
how about this BEOB ?...
0.8300 area, imho... if it wants to go down.
be sure to wait for PA before u enter... lots of PPZs below (than above, imho:H4 chart)
  • #74,730
  • Sep 14, 2010 9:26am Sep 14, 2010 9:26am
Quoting roundrock
how about this BEOB ? Good looking, at swing high, space to left. i am planning to enter on retracement upto the bullish candle low prior to BEOB candle (we are almost there). where could be the FTA ?
Hey RR, I was considering this same trade... I highlighted the first traffic zones as I see them.

I passed on it btw.

-- Danny
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  • #74,731
  • Sep 14, 2010 9:29am Sep 14, 2010 9:29am
Quoting cprao
Yes. I took. and set FTA as 80.60.
I set the J16 EA and closed the computer.. assuming that setting will be saved and executed from the server.

Edit: Just woke up..

The price hit 80.60 but my order was not executed/closed to BE. My position is still open.
You missed by 3 pips. Price is hanging at the current level whole day.

And I couldn't take the entry at all. I was about to place the stop order and price fell straight away without giving me any chance.
  • #74,732
  • Sep 14, 2010 9:35am Sep 14, 2010 9:35am
Quoting bluetrader
Hey RR, I was considering this same trade... I highlighted the first traffic zones as I see them.
I passed on it btw.
....
cool feed. huge BEOB! lol
it highlights the 0.8328 PPZ very clearly. (i have it at 0.8325 as a line chart-based PPZ, FXDD)


EDIT:
MBT & FXCM feeds (yours &roundrock's) look similar too.
  • #74,733
  • Sep 14, 2010 9:40am Sep 14, 2010 9:40am
Notice how different my feed, FXPRO is for the same pair
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  • #74,734
  • Sep 14, 2010 9:42am Sep 14, 2010 9:42am
Quoting billm
Notice how different my feed, FXPRO is for the same pair
Hey Bill

This is b/c different brokers use different close times(since forex is not centralized). SO the aggregation of these bars on timeframes like 4hr, daily will be different. Price is still the same, just the aggregation of the bars will vary. I personally watch 4 brokers to get different viewpoints/aggregation. Since the bars are only a small part of what we are looking for. Ultimately we just say play it as you see it.

Take care
Mike
  • #74,735
  • Sep 14, 2010 9:43am Sep 14, 2010 9:43am
Quoting roundrock
how about this BEOB ? Good looking, at swing high, space to left. i am planning to enter on retracement upto the bullish candle low prior to BEOB candle (we are almost there). where could be the FTA ?
FWIW, I am seeing from my testing that a break to the downside of the bar is needed before a trade should be considered. I take some before the break and did quite well off the gbpchf daily bar earlier this week. I just know that there is more risk involved. Test it out and you shall see that what I say bears some serious consideration.

K.I.S.S.
  • #74,736
  • Sep 14, 2010 9:44am Sep 14, 2010 9:44am
Quoting billm
Notice how different my feed, FXPRO is for the same pair
yes, but the PPZs, S/R's are the same.
if u want,u can go check/monitor 2 or more broker feeds... unless doing that gets u confused/less productive
  • #74,737
  • Sep 14, 2010 9:44am Sep 14, 2010 9:44am
Hi Mike, can I ask which 4 feeds you watch ?

thanks Bill
  • #74,738
  • Sep 14, 2010 9:46am Sep 14, 2010 9:46am
Quoting billm
Hi Mike, can I ask which 4 feeds you watch ?

thanks Bill
Hey Bill

Based on current timezones I am using

Fxpro(also the only one I use for daily/weekly, daily is a 5pm est close)
IBFX
Alpari uk
FXCM

Mike
  • #74,739
  • Sep 14, 2010 10:01am Sep 14, 2010 10:01am
Quoting supremeChaos
MBT & FXCM feeds (yours &roundrock's) look similar too.
Mine is FXCM too SC

The broker name in the lower left corner just refers to the installation. I haven't used the MBT datafeed in months lol.

-- Danny
  • #74,740
  • Sep 14, 2010 10:08am Sep 14, 2010 10:08am
Quoting bluetrader
Mine is FXCM too SC
The broker name in the lower left corner just refers to the installation. I haven't used the MBT datafeed in months lol.
...
i see. a good fake!
so u must be using a different server (MT4 .srv file).
perhaps the same situation with aserbfx's chart
http://www.forexfactory.com/showpost...ostcount=74625

EDIT:
sorry, got confused a bit. didnt notice u both had the same chart(same feed)
....i'm a sleepy head now (it's 11pm... lol)
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