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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

  • #75,361
  • Sep 22, 2010 7:50pm Sep 22, 2010 7:50pm
Quoting jarroo
Great example ...
Thanks for clarifying Jim... great points regarding trading consolidation. The bar is just one part of the story.

-- Danny
  • #75,362
  • Sep 22, 2010 7:58pm Sep 22, 2010 7:58pm
Quoting bluetrader
Thanks for clarifying Jim... great points regarding trading consolidation. The bar is just one part of the story.

-- Danny

Absolutely.

Sometimes major . .sometimes minor . .but defintely not the whole story . . .
Indicators show the past. Price Action "Indicates" the future.
  • #75,363
  • Sep 22, 2010 8:22pm Sep 22, 2010 8:22pm
Quoting unlv_tj
Agreed, PB typed this earlier and I had to google it and read up on it. One more trick up my sleve (if I am quick enough to catch it).

Here is another one, that I had read about years ago, but could not remember why the chart looked familiar. The GBPUSD retraced right to 1.5500 where I had expected to go long. But there was no P/A that was easy to follow at that area. I stayed out and now looking back, there was P/A that I had seen years ago, but forgot about.

On the chart I attached is the GBPUSD off the 1.5500 level. The P/A above the arrow...
The 1.5500 level had alot of other confluences supporting a long trade, besides being just a strong BRN, PPZ level. An added confluence can make all the difference in the world to PPZ levels.
Indicators show the past. Price Action "Indicates" the future.
  • #75,364
  • Sep 22, 2010 8:32pm Sep 22, 2010 8:32pm
Quoting Fxknkw987
Thank you Mike for the immediate response....
Hey FX

The time is set by your broker. So if you find the broker with the time you want you can use them. Remember you can chart on one broker and use your own broker for trading. This is what I do. My daily (for 5pm est) is fxpro with their tons of pairs.

As for the EJ candletime this is not an Expert advisor it is an indicator. So you want to place this in the Experts folder, then the Indicator folder of your mt4. Then it will come up under custom indicators when you go to apply it. If you can't get it to work don't hesitate to let me know.

Best
Mike
  • #75,365
  • Sep 22, 2010 8:43pm Sep 22, 2010 8:43pm
Hi,I'm totally new to Forex.
And I'm asked to join here from my friend.

Reading James16 free stuff but I do not understand all the acronyms inside the stuff.
Do you have any acronyms list here ?
thanks.
  • #75,366
  • Sep 22, 2010 9:15pm Sep 22, 2010 9:15pm
Quoting mbqb11
Hey FX

The time is set by your broker. So if you find the broker with the time you want you can use them. Remember you can chart on one broker and use your own broker for trading.
Best
Mike
Hi FX,
If your charting package allows it, you could change the session times to suit when you want the bars to close. I think Mike has multiple feeds for different H4 bars. I have one feed that I change the session times, for example, I have H4 bars that end at 5pm EST, and I also have H4 bars (for the same pair on a separate chart) that end at 7pm EST.

This way I have two version of aggregated data for the same pair. I could create more different session times so that I see a new H4 bar every hour, but I am already struggling to monitor 25 pairs times 2 different session times. (I use NinjaTrader)

Grant
“Make everything as simple as possible, but no simpler.” – Albert Einstein
  • #75,367
  • Sep 22, 2010 9:16pm Sep 22, 2010 9:16pm
Quoting KyEap
Hi,I'm totally new to Forex.
And I'm asked to join here from my friend.

Reading James16 free stuff but I do not understand all the acronyms inside the stuff.
Do you have any acronyms list here ?
thanks.
Hey Kye

Here is a good starting point

http://www.forexfactory.com/showpost...ostcount=56751

I missed a few on there and can't edit that post now but that is the large majority

Mike
  • #75,368
  • Sep 22, 2010 9:17pm Sep 22, 2010 9:17pm
Quoting gc7
Hi FX,
If your charting package allows it, you could change the session times to suit when you want the bars to close. I think Mike has multiple feeds for different H4 bars. I have one feed that I change the session times, for example, I have H4 bars that end at 5pm EST, and I also have H4 bars (for the same pair on a separate chart) that end at 7pm EST.

This way I have two version of aggregated data for the same pair. I could create more different session times so that I see a new H4 bar every hour, but I am already struggling to monitor 25 pairs...

Yes thanks Grant for clarifying, I make the assumption it was about mt4

Thanks bud
Mike
  • #75,369
  • Sep 22, 2010 9:18pm Sep 22, 2010 9:18pm
Quoting KyEap
Hi,I'm totally new to Forex.
And I'm asked to join here from my friend.

Reading James16 free stuff but I do not understand all the acronyms inside the stuff.
Do you have any acronyms list here ?
thanks.
PA - Price Action
PB - Pin bar
BUB - Bullish bar
BEB - Bearish bar
BUOB - Bullish outside bar
BEOB - Bearish outside bar
IB - Inside bar
NB - Neutral bar
DBLHC - Double bar low with higher close
TBLHC - Triple bar low with higher close
DBHLC - Double bar high with lower close
TBHLC - Triple bar high with lower close
TBL - Two bar low
TBH - Two bar high
PPZ - Price Pivot zone
TL - Trend line
Fibs - Fibonacci ratio
RR - Risk Reward
S&R - Support & Resistance
HH - Higher High
HL - Higher Low
LL - Lower Low
LH - Lower High
BRN's - Big round numbers
RN's - Round numbers
IPB - inverted pinbar
  • #75,370
  • Sep 22, 2010 9:19pm Sep 22, 2010 9:19pm
Anyone watching EUR/GBP.

Looks like it has everything except PA.
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  • #75,371
  • Sep 22, 2010 9:37pm Sep 22, 2010 9:37pm
Quoting mbqb11
Hey Kye

Here is a good starting point

http://www.forexfactory.com/showpost...ostcount=56751

I missed a few on there and can't edit that post now but that is the large majority

Mike


Quoting Imphilomath
PA - Price Action
PB - Pin bar
BUB - Bullish bar
BEB - Bearish bar
BUOB - Bullish outside bar
BEOB - Bearish outside bar
IB - Inside bar
NB - Neutral bar
DBLHC - Double bar low with higher close
TBLHC - Triple bar low with higher close
DBHLC - Double bar high with lower close
TBHLC - Triple bar high with lower close
TBL - Two bar low
TBH - Two bar high
PPZ - Price Pivot zone
TL - Trend line
Fibs - Fibonacci ratio
RR - Risk Reward
S&R - Support & Resistance
HH - Higher High
HL - Higher Low
LL - Lower Low
LH - Lower High
BRN's...
Thanks guys !
Is useful !
  • #75,372
  • Sep 22, 2010 10:12pm Sep 22, 2010 10:12pm
Quoting Pinbar
Anyone watching EUR/GBP.

Looks like it has everything except PA.

Looks good Pb. The .8600 is a strong level indeed. Looks even better on the Monthly.


Also the 113.50 on the Eur/Jpy is looking good.
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Indicators show the past. Price Action "Indicates" the future.
  • #75,373
  • Sep 22, 2010 10:32pm Sep 22, 2010 10:32pm
MM = Money management

Quoting Imphilomath
PA - Price Action
PB - Pin bar
BUB - Bullish bar
BEB - Bearish bar
BUOB - Bullish outside bar
BEOB - Bearish outside bar
IB - Inside bar
NB - Neutral bar
DBLHC - Double bar low with higher close
TBLHC - Triple bar low with higher close
DBHLC - Double bar high with lower close
TBHLC - Triple bar high with lower close
TBL - Two bar low
TBH - Two bar high
PPZ - Price Pivot zone
TL - Trend line
Fibs - Fibonacci ratio
RR - Risk Reward
S&R - Support & Resistance
HH - Higher High
HL - Higher Low
LL - Lower Low
LH - Lower High
BRN's - Big round numbers
RN's...
  • #75,374
  • Sep 22, 2010 10:35pm Sep 22, 2010 10:35pm
Quoting dabbledave
MM = Money management
FTA = First Trouble Area
Indicators show the past. Price Action "Indicates" the future.
  • #75,375
  • Sep 22, 2010 10:52pm Sep 22, 2010 10:52pm
Quoting jarroo
Looks good Pb. The .8600 is a strong level indeed. Looks even better on the Monthly.


Also the 113.50 on the Eur/Jpy is looking good.

Hi, Jarroo

Yes, looks like we have the left shoulder and head of a R-H&S starting to form at the swing low.

Now, I understand that price is one large range getting smaller and testing its confines before breaking out to test the next confine, I am trying to keep it elementary dirt simple.
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  • #75,376
  • Sep 22, 2010 11:00pm Sep 22, 2010 11:00pm
Quoting Atc
Did you take this IPB? Was at a good location.
Quoting Atc
.....tight stop would have got hit...I guess the question would be....where would be your stop buffer?
....
Hey Bill,
on FXDD demo... the IPB high is around 0.9805. the spike high (next bar's high) is 0.9811. a tight stop would've been hit. a 10 - 15pip stop would not (depending on your broker).

time-wise, this IPB formed at 9pm EST or 9am Asia... Asian session. this thin session could be the reason why this IPB formed & succeeded (for those who weren't stopped out).
personally i drill down to smaller timeframes to try & make better entries & check PA further.
(no charts...) in H1, that H4 bullish bar (bar after IPB) was a small PB (13-pip PB with a low & close 2 & 5-pip above the IPB's close).
most likely i would've entered somewhere around that PB. i love discount entries
(NOTE: i dont look for/expect runners when i countertrend trade; so this IPB trade will be a quick one)

Let's not get too excited.... newer traders should heed his advice:
Quoting ghous
For me personally it's the story behind the bars rather than just the bars themselves....
Quoting jarroo
Not an IPB . .its an Inside Bar.
good point.
i see it as both. (i 'use a few different binoculars')
i also see it as a mini false breakout to the upside.


Quoting pipmyride
...
How is a small H4 pin that is totally COUNTER the trend as can be seen on your own chart, A+ ?...
hey, back in Sept.6/7, u were bearish aud & eur... what happened?
just teasing u

Quoting Forex007
...
Hi Jarroo, Raczek and the rest of the gang. It's great to see the same old crowd here.....
Hahah... nice pop in.
How's the baby? pretty sure u've been busy
  • #75,377
  • Sep 22, 2010 11:00pm Sep 22, 2010 11:00pm
Quoting Pinbar
Hi, Jarroo

Yes, looks like we have the left shoulder and head of a R-H&S starting to form at the swing low.

Now, I understand that price is one large range getting smaller and testing its confines before breaking out to test the next confine, I am trying to keep it elementary dirt simple.

I see. Price sure cut through that 110.00 like butter. It may go back to retest the 110.00 and fullfill your R-H&S. Just need some strong bearish PA at the 113.50 to confirm it.
Indicators show the past. Price Action "Indicates" the future.
  • #75,378
  • Sep 22, 2010 11:03pm Sep 22, 2010 11:03pm
Quoting jarroo
I see. Price sure cut through that 110.00 like butter. It may go back to retest the 110.00 and fullfill your R-H&S. Just need some strong bearish PA at the 113.50 to confirm it.

I hear you.
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  • #75,379
  • Sep 22, 2010 11:07pm Sep 22, 2010 11:07pm
Quoting unlv_tj
Agreed....
On the chart I attached is the GBPUSD off the 1.5500 level. The P/A above the arrow is a tweezer bottom. Completely forgot about it.
OR
a 2-bar PB
(x-bar PB if u include the bars prior the arrowed bar to the count)

Quoting Fxknkw987
...the EJ_CandleTime expert advisor, I am having a difficult time getting it to work on MB Traders MY4 version..
it's not an EA. it's an indicator.
so put it in experts/indicators
  • #75,380
  • Sep 22, 2010 11:09pm Sep 22, 2010 11:09pm
Quoting Pinbar
I hear you.

There is also the other side.

If we get a strong Weekly close above the 113.50, we can now look for it to act as strong Support, meaning looking for some bullish PA at the 113.50.
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Indicators show the past. Price Action "Indicates" the future.
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