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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

  • #75,101
  • Sep 18, 2010 5:53pm Sep 18, 2010 5:53pm
Quoting mbqb11
Hey A

I would place the FTA higher at the first bar flip here, especially counter trend
great. that is what i want. i appreciate your comment.
one of the most valuable parts of this thread.
meine augen sind die sterne
  • #75,102
  • Sep 18, 2010 5:54pm Sep 18, 2010 5:54pm
Quoting raczekfx
It always has been...

It pays to be early on the trade.
0.9442 was ideal entry (based on smaller TF), I wish I was awake..

Below is one of my friend's early entry on usd/chf from a couple of days ago. It takes a bit of 'preparation' to know when and how to get in, but once you're in, you are not only listening to the music.... but also playing it..
Some might see a falling knife and run, other simply catch the knife and throw it back...
.
Yes I know it pays to be early on a trade, looking at the Ozzie, last friday there was a not so strong PB on the 4H-TF off the 9450. If you took this PB you would have already banked about 75 pips even before the daily PB gets triggered. But I passed on this 4H-PB due to its small size. Do you think it is better to look for a setup on the 4H or even 1H TF than on the daily or even the weekly TF in order to be as early as possible on a trade ?

May the force be with you.
Pipcrawler
  • #75,103
  • Sep 18, 2010 5:56pm Sep 18, 2010 5:56pm
one more interesting setup.
sge on weekly. fta is very near with 250 gbp, but this zone broke several times, so doesn't seem to be highly important.
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meine augen sind die sterne
  • #75,104
  • Sep 18, 2010 6:10pm Sep 18, 2010 6:10pm
this didn't close inside the range of the previous bar, but i like the location. broke through the 100 gbp, came back and closed below 100 gbp with a nearly pb. see the area to the far left at 100 gbp.
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meine augen sind die sterne
  • #75,105
  • Sep 18, 2010 6:41pm Sep 18, 2010 6:41pm
i can go on with this for hours ...
glaxo on weekly.
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meine augen sind die sterne
  • #75,106
  • Sep 18, 2010 8:46pm Sep 18, 2010 8:46pm
Quoting Adilius07
Ok, I do not want to be annoying. I just thought oh why not I go through the year of 2009 to see maybe the Buobs would fail there?

I marked every buob at possible swing hi/lo. And the results are:
10 Winners, 1 Loss, 1 technically beob but a doji, so skip probably.

All I can say is WOW!!!
I think I should sign in for the test drive of that Lexus already...
- - -

Do you guys normally wait the closing of a bar (like BEOB/BUOB on daily) before placing your trade? Kindly enlighten me as i am new in this thread.

Thanks,
  • #75,107
  • Sep 18, 2010 8:49pm Sep 18, 2010 8:49pm
Yes, we wait for a close, then most like to see the break of the bar before entering.
  • #75,108
  • Sep 18, 2010 9:06pm Sep 18, 2010 9:06pm
That is not a PB in my opinion. It hardly has a nose.

Scott

Quoting aserbfx
i can go on with this for hours ...
glaxo on weekly.
  • #75,109
  • Sep 18, 2010 10:39pm Sep 18, 2010 10:39pm
Quoting xmzhang
Do you think it is better to look for a setup on the 4H or even 1H TF than on the daily or even the weekly TF in order to be as early as possible on a trade ?
I don't think, I do it... and it's working well most of the times. The magic word here is: 'the location'.
If you do what every one does, you'll keep walking in circles. There is a good reason, why 9 people out of 10, who look at the same pinbar lose money...

With that thought, Enjoy the weekend!

There is only one Force...
  • #75,110
  • Sep 19, 2010 2:21am Sep 19, 2010 2:21am
Charts look very good for USD and with BOJ selling yen the weekly BUOB on u/j looks even more promising. 86 is the key.
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  • #75,111
  • Sep 19, 2010 4:17am Sep 19, 2010 4:17am
GU Friday small PB looks like there is some serious consolidation below, and the weekly has a strong bullish close to it with the candle coming off of the 61.8 retracement. FTA is about 40 pips but it is a pass for me with Wed & Tuesday bars being much larger in the uptrend. I feel this is just a retracemnet in the current uptrend.
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  • #75,112
  • Sep 19, 2010 4:41am Sep 19, 2010 4:41am
Quoting Pinbar
GU Friday small PB looks like there is some serious consolidation below, and the weekly has a strong bullish close to it with the candle coming off of the 61.8 retracement. FTA is about 40 pips but it is a pass for me with Wed & Tuesday bars being much larger in the uptrend. I feel this is just a retracemnet in the current uptrend.
I like your TA Pinbar....I see as you do....let's watch
  • #75,113
  • Edited 5:14am Sep 19, 2010 4:45am | Edited 5:14am
Quoting novice198
I have recently changed over to MacPro and now I cannot view the recorded webinars. As I could not solve the problem even after "googling" the problem, I approached the local Apple reseller and even they could not solve it except find the root cause. It seems that the current Webinars are recorded/uploaded in wmv format using the MSS2 codec, which is not supported be MacPro. One of the solutions offered by them is that format for the Webinar is changed to another format.
Does anyone have a solution to this problem?
Informatively, with the kind...
I use the VLC media Player since the new uptade it works good for me ;-)
  • #75,114
  • Sep 19, 2010 6:20am Sep 19, 2010 6:20am
Quoting raczekfx
I don't think, I do it... and it's working well most of the times. The magic word here is: 'the location'.
If you do what every one does, you'll keep walking in circles. There is a good reason, why 9 people out of 10, who look at the same pinbar lose money...

With that thought, Enjoy the weekend!

There is only one Force...
Just great to hear this from a guru like you, my preference also goes to the 4H and 1H TF, most often than not you'll see first a valid setup on the 4H-TF followed by a valid setup on the daily the very next day. So instead of waiting for the daily setup to trigger, you could have banked some preliminary profit on the setup off the 4H-TF, then if the daily setup finally triggers you could add some to your original position and go for the FTA with respect to the daily setup. Thanx again Rac !http://cdn.forexfactory.com/images/icons/icon10.gif

May the force be with you.
Pipcrawler
  • #75,115
  • Sep 19, 2010 7:35am Sep 19, 2010 7:35am
Buystop order about 20 pips above the weekly BUOB at BRN and with divergence. Im looking for price to move towards 90.00 area but will watch closely if and when price hits the two blue areas.
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  • #75,116
  • Sep 19, 2010 8:51am Sep 19, 2010 8:51am
Quoting ekling
Buystop order about 20 pips above the weekly BUOB at BRN and with divergence. Im looking for price to move towards 90.00 area but will watch closely if and when price hits the two blue areas.
Very nice E, I am still long from the daily BUOB which basically is at my entry price so gonna see if this weekly BUOB pushes us up now

Mike
  • #75,117
  • Sep 19, 2010 8:58am Sep 19, 2010 8:58am
Quoting Mr Smith
Yes, we wait for a close, then most like to see the break of the bar before entering.

- - - - - -

Thanks a lot. This leads me to another question regarding exit as a do it most often prematurely, especially when a bar goes up and down. PA stays up for sometimes and down again for a few pips. I normally used Support and resistace as my guide, and somehow I have the impression that BRN/RN are also a good target for exits. Would appreciate your advise.
  • #75,118
  • Sep 19, 2010 9:15am Sep 19, 2010 9:15am
Quoting Pinbar
GU Friday small PB looks like there is some serious consolidation below, and the weekly has a strong bullish close to it with the candle coming off of the 61.8 retracement. FTA is about 40 pips but it is a pass for me with Wed & Tuesday bars being much larger in the uptrend. I feel this is just a retracemnet in the current uptrend.
- - - -

I think this is some sort of a silly question. Going backward from previous post finding out what FTA means, but my guessed is as wild as my imaginations. Would appreciate your help.
  • #75,119
  • Sep 19, 2010 9:18am Sep 19, 2010 9:18am
Quoting Edd Ganuelas
- - - -

I think this is some sort of a silly question. Going backward from previous post finding out what FTA means, but my guessed is as wild as my imaginations. Would appreciate your help.
Hey Edd

No silly questions, FTA we use to stand for First Trouble Area

Here are some others as well
http://www.forexfactory.com/showpost...ostcount=56751


Mike
  • #75,120
  • Sep 19, 2010 9:36am Sep 19, 2010 9:36am
Quoting cprao
They look good to me. Some senniors adjust the PPZ's to nearest BRN/s or VBRN's.

Please make a note that PPZ are zones rather than single lines. If you see PPZ at 1.5990, it makes sense to draw it at 1.6000.. since this is closest VBRN and can play a significant role.
VBRN's (Mike's Favorite)makes a great role in this thread..
-----

Can you direct me from previous post how to determine Pivot Price zone (PPZ)? It looks to me somewhere on the median between support and resistance where the current price action is. Sorry but I am new on this tread.

Thanks,
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