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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

  • #75,401
  • Sep 23, 2010 6:50am Sep 23, 2010 6:50am
Some stocks I'm watching today
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  • #75,402
  • Sep 23, 2010 8:11am Sep 23, 2010 8:11am
Quoting xmzhang
Went short on the Ozzie, just below the RNB @ 9500.
I just don't understand why you insist on buying the dollar - hope this is demo.
  • #75,403
  • Sep 23, 2010 8:20am Sep 23, 2010 8:20am
Quoting ppfx
.

Attachment
some bullish PA on the 4h...

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  • #75,404
  • Sep 23, 2010 8:29am Sep 23, 2010 8:29am
Yesterday night, I took this trade.. though it is gone/going as expected..
But wanted to know senior thoughts on this.

FXDD, H4 TF.

From daily and weekly prospective, it is a huge downtrend.

From H4, It broke 1.4000 (BRN). I waited for the retrace to 1.4000 to make sue the support holds.

1. After the intial break of 1.40, first bar was a bearish bar- but still closed above 1.4
2. 2nd bar is a PB, still closed above 1.4
3. 3rd bar is IB. closed above 1.40. This can be treated as I4b.

I took the trade above that IB.

Stop loss - Below the 1st bearish bar (45 pips)
BE is little below the first bar (25 pips).

It did as expected.. closed 1/2 of the position, rest is at BE.. now aiming for 1.4100 or may get stopped out.

Comments ?
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  • #75,405
  • Sep 23, 2010 8:39am Sep 23, 2010 8:39am
Nice intraday S/R-flip play on the E-Yhttp://cdn.forexfactory.com/images/icons/icon10.gif
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Pipcrawler
  • #75,406
  • Sep 23, 2010 8:51am Sep 23, 2010 8:51am
Quoting mbqb11
Hey Ek

Yes it seems this wasn't taken as a time to turn yet, I am still in but am watching the 84 area to possibly cut my loss out. Was looking to put in some kind of low after a bullish day to get my stop up in this case. For now I am just waiting. E is also correct if price pulls back up to the 85 it is a good place to look for bearish PA as well. So I am in wait mode for a logical time to move my stop up

Best
Mike
Its funny that im being more conservative than you hehe
  • #75,407
  • Sep 23, 2010 9:13am Sep 23, 2010 9:13am
Quoting ekling
Its funny that im being more conservative than you hehe
Hey Ek

This is how I treat the majority of my trades though. I only move my stop up when I find the logical time to do it. But yes it could end up nipping me but I have accepted the potential for a full bar loss when I executed my buy order.

Hope all is well
Mike
  • #75,408
  • Sep 23, 2010 9:15am Sep 23, 2010 9:15am
Quoting Location
Mike:

I just opened demo accounts with the four brokers that you mentioned in a post a few weeks ago. After playing with them for a day, I think that the 4-hour charts close times should work like this:

fxpro 5 a.m. est
alpari uk 6 a.m. est
fxcm 7 a.m. est
ibfx 8 a.m. est

However, the fxcm does not seem to close at 7 a.m., which of your four brokers close at 7 a.m.?

Additionally, which brokers do you switch to after daily saving time ends? Thanks.
Hey Location

For me it is the FXCM one that gives that close. For example the next close is at 11am the previous was 7am est times.

As for after daily I usually have to go hunting through all the mt4s(i have a ton) so I forget, which it was to be honest. When the times switch just post up I will know for then for sure.

Best
Mike
  • #75,409
  • Sep 23, 2010 9:31am Sep 23, 2010 9:31am
Hi guys some questions to ask:

1) I notice some of you guys had a countdown towards close of bar at the top left hand corner of your metatrader, how do I enable that on mine? (sorry for such questions but i had trouble locating them).

2) I'm living in Singapore, say i trade using FxPro what will the time be for bar open?

Thanks for the patience.
  • #75,410
  • Sep 23, 2010 9:34am Sep 23, 2010 9:34am
Quoting LiuLangZe
Hi guys some questions to ask:

1) I notice some of you guys had a countdown towards close of bar at the top left hand corner of your metatrader, how do I enable that on mine? (sorry for such questions but i had trouble locating them).

2) I'm living in Singapore, say i trade using FxPro what will the time be for bar open?

Thanks for the patience.
Hey Liu

Here is the post that has the candle close time indicator
http://www.forexfactory.com/showpost...ostcount=75241

You h ave to download it and put it in your MT4 -> Experts -> indicator folder on your computer. Then you must add it to your chart under custom indicators.

As for fxpro and Singapore. I believe you are a full 12 hours ahead of NY time. So this would be 5am est your time for the daily close.

Best
Mike
  • #75,411
  • Sep 23, 2010 9:41am Sep 23, 2010 9:41am
Quoting cprao
Yesterday night, I took this trade.. though it is gone/going as expected..
But wanted to know senior thoughts on this.

FXDD, H4 TF.

From daily and weekly prospective, it is a huge downtrend.

From H4, It broke 1.4000 (BRN). I waited for the retrace to 1.4000 to make sue the support holds.

1. After the intial break of 1.40, first bar was a bearish bar- but still closed above 1.4
2. 2nd bar is a PB, still closed above 1.4
3. 3rd bar is IB. closed above 1.40. This can be treated as I4b.

I took the trade above that IB.

Stop loss - Below...
Hey C

I never trade inside bars on the 4hr so I can't comment to much but be careful that bar wasn't an inside bar. It had a lower low then the previous bar. You did get your reaction higher and nailed your target at 4100(generally I put my take profit about 10 pips under the round number). The one thing I am confused about is placing your stop loss so far down. I feel this really hurts ones position size on a bar setup like an inside bar where you are looking for a breakout type move as you got. Again if it works for you keep doing it!

Best
Mike
  • #75,412
  • Sep 23, 2010 9:55am Sep 23, 2010 9:55am
Quoting mbqb11
Hey Liu

Here is the post that has the candle close time indicator
http://www.forexfactory.com/showpost...ostcount=75241

You h ave to download it and put it in your MT4 -> Experts -> indicator folder on your computer. Then you must add it to your chart under custom indicators.

As for fxpro and Singapore. I believe you are a full 12 hours ahead of NY time. So this would be 5am est your time for the daily close.

Best
Mike

That helps alot Mike! Thank you once again.
  • #75,413
  • Sep 23, 2010 10:02am Sep 23, 2010 10:02am
large beob. engulfing a couple of bars. plus d ivergence.
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meine augen sind die sterne
  • #75,414
  • Sep 23, 2010 10:07am Sep 23, 2010 10:07am
Quoting jarroo
Not an IPB . .its an Inside Bar.

How's bout thisin?
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  • #75,415
  • Sep 23, 2010 10:16am Sep 23, 2010 10:16am
Quoting Atc
How's bout thisin?
nope. that isnt an IPB.
that bar is even bigger (in range) than the previous bar.

check out ghous' IPB charts/posts to compare.
  • #75,416
  • Sep 23, 2010 10:18am Sep 23, 2010 10:18am
Quoting Jonnyislost
Nice MACD divergence on Euro/Yen. I wonder if there'll be profit taking style retracements coming into the end of the week. Waiting for PA to show the way
  • #75,417
  • Sep 23, 2010 10:25am Sep 23, 2010 10:25am
Quoting supremeChaos
nope. that isnt an IPB.
that bar is even bigger (in range) than the previous bar.

check out ghous' IPB charts/posts to compare.
More of BEB
I am finding the shape of that bar does not have to be perfect....PB's are not all perfectly shaped and as you know many still work ...even the A shaped PB's fail....but location,location,location in conjunction with any other confluences give the signal...but I know I am not saying anything new to you.

Regards---Bill
  • #75,418
  • Sep 23, 2010 10:40am Sep 23, 2010 10:40am
slightly off-topic, but:
does anyone have an indi which displays the price and instrument in the lower right corner of the MT4 - charts? It should show for example: aud/usd 0.9512.
Thanks
meine augen sind die sterne
  • #75,419
  • Sep 23, 2010 10:43am Sep 23, 2010 10:43am
Quoting aserbfx
slightly off-topic, but:
does anyone have an indi which displays the price and instrument in the lower right corner of the MT4 - charts? It should show for example: aud/usd 0.9512.
Thanks
see if this is what you are looking for Al

http://www.forexfactory.com/showpost...18&postcount=1
  • #75,420
  • Sep 23, 2010 10:57am Sep 23, 2010 10:57am
Quoting mbqb11
see if this is what you are looking for Al

http://www.forexfactory.com/showpost...18&postcount=1
not really, mike. i have this already. i want to have both the price AND the instrument (symbol) shown.
but thanks anyway.
meine augen sind die sterne
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