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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

  • #74,741
  • Sep 14, 2010 10:38am Sep 14, 2010 10:38am
Quoting mbqb11
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
So, every one hour, there is a 4-hour bar ready. Right?
I also needed this list desperately. Just didn't want to go through time consuming process to check out all the brokers.

Thanks.
  • #74,742
  • Sep 14, 2010 12:07pm Sep 14, 2010 12:07pm
  •  jdl
  • | Joined Oct 2006 | Status: going to master this or die trying | 101 Posts
Quoting nuclear62
Smart live markets, check it out
Nuclear, I was so excited to see how much Smart Live offered in terms of pairs and markets. Then I saw this on their account page:

 

  1. I am not an American Citizen or hold residency of the USA



Thanks in advance to anyone who can suggest a reliable broker that offers such a wide range of trading products AND is available to those in the US.

  • #74,743
  • Sep 14, 2010 12:09pm Sep 14, 2010 12:09pm
Hello my fellow J16 Brethren,

I was wondering if anyone took this setup this morning on the GBPUSD, bullish outside bar with a pinbar look to it at a swing low. Is this a valid J16 setup?

http://imgur.com/v7Qh1.gif
Price is beautiful. A repetitive method is a competitive method.
  • #74,744
  • Sep 14, 2010 12:22pm Sep 14, 2010 12:22pm
Quoting nwo-trader
Hello my fellow J16 Brethren,

I was wondering if anyone took this setup this morning on the GBPUSD, bullish outside bar with a pinbar look to it at a swing low. Is this a valid J16 setup?

http://imgur.com/v7Qh1.gif
Can anybody explain the cause of this huge bullish bar ?
  • #74,745
  • Sep 14, 2010 12:42pm Sep 14, 2010 12:42pm
Quoting dan89
Can anybody explain the cause of this huge bullish bar ?
It occurred on a lot of xxx/USD crosses, so perhaps it was a news report; however, I didn't see one on the calendar that coincided with the time at which it happened.
  • #74,746
  • Sep 14, 2010 12:54pm Sep 14, 2010 12:54pm
  •  jdl
  • | Joined Oct 2006 | Status: going to master this or die trying | 101 Posts
Quoting dan89
Can anybody explain the cause of this huge bullish bar ?
http://market-ticker.org/akcs-www?post=166601
  • #74,747
  • Sep 14, 2010 1:38pm Sep 14, 2010 1:38pm
I've been meaning to share this. Bullish weekly outside bar with a pinbar look to it at a swing low on this stock, took it for a almost a 100% ride. I had already purchased the stock before the weekly bar formed, but i was reasonably certain what was going to happen after it formed.


http://imgur.com/VhKE5.png
Price is beautiful. A repetitive method is a competitive method.
  • #74,748
  • Sep 14, 2010 1:58pm Sep 14, 2010 1:58pm
Quoting jdl
Nuclear, I was so excited to see how much Smart Live offered in terms of pairs and markets. Then I saw this on their account page:

 

  1. I am not an American Citizen or hold residency of the USA



Thanks in advance to anyone who can suggest a reliable broker that offers such a wide range of trading products AND is available to those in the US.

These are CFD's, they are not actual Future Contracts. They were recently banned in the USA, so the govt. could interfer more in our lives and tell us how to invest our own money. Welcome to HOPE and CHANGE, LOL.

So, if you want so many options to trade in the USA, you are probably going to need at least $20,000, if not even $50,000 to open up with a broker like Interactive Brokers, and trade Mini-future contracts for ~$2,000 a pop.
  • #74,749
  • Edited 2:37pm Sep 14, 2010 2:33pm | Edited 2:37pm
Quoting mbqb11
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

AhhhHaaa!

So this is how you find so many trades!

All I have been using is MBT.
No wonder I could never seem to catch the good bars. LOL

How do I get an FxPro demo if I'm in the states?
  • #74,750
  • Sep 14, 2010 2:43pm Sep 14, 2010 2:43pm
Quoting The Lord
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.

What a miss by 3 pips ? I don't know what is the current status now.. I am at work..left the position open.
  • #74,751
  • Sep 14, 2010 2:55pm Sep 14, 2010 2:55pm
Quoting dan89
Can anybody explain the cause of this huge bullish bar ?
Quoting The Hare
It occurred on a lot of xxx/USD crosses, so perhaps it was a news report; however, I didn't see one on the calendar that coincided with the time at which it happened.
Price was swinging between a clearly defined sideways channel for both fiber and cable for days. Today, Goldman Sachs released a report saying they think the Fed will have to print more money come late spring (they were talking about a trillion dollars, mind you). That's the news part of it, but what was really going on is that traders were looking for a reason to take price out of the sideways moving box. The breakout was very beautiful (well, I liked it ). In any case, what interests me most is whether the highs of the sideways moving channel will now act as support. If it does so, it should provide us with a few decent setups. So, keep your eyes on the price.

I couldn't stop, so here is a little bit more..
Although what I'm about to say next has nothing to do with price action, I also feel that the market is again shifting from risk aversion to risk appetite. Also, we are fast approaching 2011 and there has been talk that some talk that a lot of fund managers have nothing to show for 2010, which means that
a) they will turn their eyes to higher yielding (ie riskier) assets
b) they will jump on any movement no matter which direction.
These two reasons, in short, are why I think the market broke up not down (I think a lot of stuff, but that doesn't mean I'm being realistic of getting it. )
Attached Image (click to enlarge)
Click to Enlarge Name: breakout.GIF Size: 59 KB
If you don't risk, you don't ever have to lose.
  • #74,752
  • Sep 14, 2010 3:19pm Sep 14, 2010 3:19pm
Quoting tubguy
AhhhHaaa!

So this is how you find so many trades!

All I have been using is MBT.
No wonder I could never seem to catch the good bars. LOL

How do I get an FxPro demo if I'm in the states?
Hi there Tubguy, you just put in a address somewhere else, I always use fake addresses for my demo accounts.
  • #74,753
  • Sep 14, 2010 3:39pm Sep 14, 2010 3:39pm
Quoting bug
Price was swinging between a clearly defined sideways channel for both fiber and cable for days. Today, Goldman Sachs released a report saying they think the Fed will have to print more money come late spring (they were talking about a trillion dollars, mind you). That's the news part of it, but what was really going on is that traders were looking for a reason to take price out of the sideways moving box. The breakout was very beautiful (well, I liked it ). In any case, what interests me most is whether the highs of the sideways...
Well done! Liked the fundamental scent in your explanation
  • #74,754
  • Sep 14, 2010 3:49pm Sep 14, 2010 3:49pm
Quoting ppfx
you should put this post in you signature and everytime a new member ask a question you can reffer him to this post or maybe not i know that you're very good at finding a post, even its hard to find it (still dont know how you do it )
Hey ppfx, i was just thinking the exact same thing about this post. I was looking for a way to save favourite posts on my ff account. Then i realised, if I click on the number at the left side it comes up in its own window, then i can put it in my favourties on ie. Sorted . Dont know if anyone has a better way, but it'll do for now.

The missus' favourites are gonna be filled up with ff pages soon, ah well, she'll have to deal with it. Hopefully she'll realise 'my chart thing' is worth it in the end!
Whether you think that you can, or that you can't, you are usually right.
  • #74,755
  • Sep 14, 2010 4:05pm Sep 14, 2010 4:05pm
Ive had a good lesson in fear and greed today, probably my first in my year or so of trading forex.

I have only been reading this thread for a few months, I have learnt so much in these few months though. I have been mainly taking trades at night, before I go to bed, the only time I have spare really.I have only been trying to take what my limited knowledge tells me are A+ trades. I have been doing well. Most of the time I have reached my tp or am well in profit to move my stop to BE by the time I see it again. May seem risky leaving it overnight, but it has been working.

I had a bit of spare time at work today, so I had a quick scan of the markets. Found two trades that I thought looked good, so I took them, they both went against me, and hovered around with me in a loss for most of the day. I couldnt help checking these repeadetly, in the end I took a 10 pip loss on one because I had convinced myself It wasnt going anywhere, and Stopped the other one out at BE. Since then one hit my FTA,and started to retrace, the other went straight through my FTA, and is still going.

Looking back, my reasons for taking them were valid, but I had convinced myself to cut my losses and get out so i didnt lose anything.It has been a massive lesson for me Im not an emotional person at all, can control myself very well, and had read a lot about controlling your emotions in trading, always thinking Ill be fine!

Its strange the tricks your brain plays on you when money is involved. Ah well, Its all a learning curve. Hopefully lesson learnt, carry on. Ill master it one day
Whether you think that you can, or that you can't, you are usually right.
  • #74,756
  • Sep 14, 2010 4:06pm Sep 14, 2010 4:06pm
a pinbar is forming on daily gbp/jpy.
this pair is still in a sideways market. bad location. only pro is macd-divergence. check for yourself, but i will give it a miss.
meine augen sind die sterne
  • #74,757
  • Sep 14, 2010 4:19pm Sep 14, 2010 4:19pm
Based on the daily you pointed out on geppy, I'll be llooking for dirty small tf pa at this red line.
Attached Image (click to enlarge)
Click to Enlarge Name: geppy.gif Size: 17 KB
  • #74,758
  • Sep 14, 2010 4:26pm Sep 14, 2010 4:26pm
Quoting Mr Smith
Hi there Tubguy, you just put in a address somewhere else, I always use fake addresses for my demo accounts.

Thanks Mr.Smith

I considered that but wanted some verification.
  • #74,759
  • Sep 14, 2010 4:32pm Sep 14, 2010 4:32pm
Quoting DTaylor
Ive had a good lesson in fear and greed today, probably my first in my year or so of trading forex.

I have only been reading this thread for a few months, I have learnt so much in these few months though. I have been mainly taking trades at night, before I go to bed, the only time I have spare really.I have only been trying to take what my limited knowledge tells me are A+ trades. I have been doing well. Most of the time I have reached my tp or am well in profit to move my stop to BE by the time I see it again. May seem risky leaving it overnight,...

Hey D,

Hope you don't mind if I laugh at this post. I can because I still catch myself going through the same thing at times, and I've been at it for about 4 years.
Hang in there, it does get easier. Patience is probably the hardest thing to get right.

Good Luck
Mike
  • #74,760
  • Edited 4:55pm Sep 14, 2010 4:52pm | Edited 4:55pm
Does anyone see a pinbar on the USD/CAD daily? My daily bar closes in just over 2 hours and I see a pinbar right at a weekly PPZ.

It looks like FTA would be 30-40 pips away. I'd be interested in thoughts from anyone, especially you more experienced guys.
Attached Image (click to enlarge)
Click to Enlarge Name: USD CAD Daily - 9 14 10.GIF Size: 36 KB
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