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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

  • #75,421
  • Sep 23, 2010 9:01am Sep 23, 2010 9:01am
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

This one does the pair/price but it shows some other information too. I just adjust the settings so that the stuff I don't want to see is off the page and not visible

J
Attached File(s)
File Type: mq4 DailyData_v03.mq4   20 KB | 404 downloads
  • #75,422
  • Sep 23, 2010 9:10am Sep 23, 2010 9:10am
I like this EUR/AUD BEOB. And this is one of the only pairs that is moving quite smoothly at the moment
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  • #75,423
  • Sep 23, 2010 9:11am Sep 23, 2010 9:11am
Quoting Jonnyislost
I like this EUR/AUD BEOB. And this is one of the only pairs that is moving quite smoothly at the moment
I like this one too J
  • #75,424
  • Sep 23, 2010 9:19am Sep 23, 2010 9:19am
Quoting pipmyride
some of the new people here really need to be careful .. go back over the thread and understand what is A+

How is a small H4 pin that is totally COUNTER the trend as can be seen on your own chart, A+ ?
Granted it might work for a few, at least u might get safe at BE, but that is by no means A+

Please be careful until u understand low risk setups
Hey pimpmyride, very nice bull trend today indeed
The bearish pinbar setup has hit its target (former two bar highs at 1.3311), which meant up to 70 pips for the new people. Stop placed 5 pips+spread above the long wick was never threatened.
Attached Image
  • #75,425
  • Sep 23, 2010 9:40am Sep 23, 2010 9:40am
Quoting mbqb11
I like this one too J
A few more good things about this BEOB is that its bouncing of 1.4100, and the close is strong and below the consolidation immediately to the left of it, and the relative size of the whole bar compared to the others and its also engulfing the previous 5 bars. What do you guys think?
  • #75,426
  • Sep 23, 2010 9:45am Sep 23, 2010 9:45am
Quoting ts63
Hey pimpmyride, very nice bull trend today indeed
The bearish pinbar setup has hit its target (former two bar highs at 1.3311), which meant up to 70 pips for the new people. Stop placed 5 pips+spread above the long wick was never threatened.
Good trade ts63, I did the same trade, stop above swing high, scaled out half at +30 and closed the rest +60.
I think confidence in setup and good MM pays for a long run...
My first post after 3 months of reading.
Thanks to everybody for a great thread!!!
Anything can happen - You never know
  • #75,427
  • Sep 23, 2010 9:45am Sep 23, 2010 9:45am
Quoting bboyomega83
A few more good things about this BEOB is that its bouncing of 1.4100, and the close is strong and below the consolidation immediately to the left of it, and the relative size of the whole bar compared to the others and its also engulfing the previous 5 bars. What do you guys think?
Yep exactly. We have a very strong PPZ of two former big all time lows. Price has now retraced to them at 1.4 area and formed this BEOB.

Mike
  • #75,428
  • Sep 23, 2010 9:55am Sep 23, 2010 9:55am
Hi
Would someone please tell me weather yesterdays daily close on the AUSUSD Daily is a pin bar
TIA
  • #75,429
  • Sep 23, 2010 10:03am Sep 23, 2010 10:03am
Quoting grahamec
Hi
Would someone please tell me weather yesterdays daily close on the AUSUSD Daily is a pin bar
TIA
Hey graham, see attached.

-- Danny
Attached Image
  • #75,430
  • Sep 23, 2010 10:07am Sep 23, 2010 10:07am
Thanks Danny, how do I attach a pic of my chart because it seems that the H and L are both below the prior close.
Cheers
  • #75,431
  • Sep 23, 2010 10:11am Sep 23, 2010 10:11am
Quoting grahamec
Thanks Danny, how do I attach a pic of my chart because it seems that the H and L are both below the prior close.
Cheers
Here you go graham: http://www.forexfactory.com/showpost...ostcount=66552
  • #75,432
  • Sep 23, 2010 10:19am Sep 23, 2010 10:19am
Quoting mbqb11
Yep exactly. We have a very strong PPZ of two former big all time lows. Price has now retraced to them at 1.4 area and formed this BEOB.

Mike
Is the entry signal given if price takes out the 4H bar low or are you looking to enter on the current retracement perhaps at a fib level ? I assume the correct place for a stop is above the 4H bar high plus a couple of pips + spread ?
  • #75,433
  • Sep 23, 2010 10:25am Sep 23, 2010 10:25am
Quoting billm
Is the entry signal given if price takes out the 4H bar low or are you looking to enter on the current retracement perhaps at a fib level ? I assume the correct place for a stop is above the 4H bar high plus a couple of pips + spread ?
Hey Bill

My entry would be under the low of the BEOB, you could enter on a retracement but the bar is not valid till that low breaks. My order expires in 2.5 hrs(I give it 4hrs to trigger)

Best
Mike
  • #75,434
  • Sep 23, 2010 10:26am Sep 23, 2010 10:26am
Thanks Danny, comment please if you have time
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  • #75,435
  • Sep 23, 2010 10:27am Sep 23, 2010 10:27am
Quoting mbqb11
Yep exactly. We have a very strong PPZ of two former big all time lows. Price has now retraced to them at 1.4 area and formed this BEOB.
Mike, in an earlier post you wrote that your 4-hr trading time was between 2 am-11 am est? Is that correct? If so, what criteria do you use to trade after that time frame?
  • #75,436
  • Sep 23, 2010 10:31am Sep 23, 2010 10:31am
Quoting mbqb11
Hey Bill

My entry would be under the low of the BEOB, you could enter on a retracement but the bar is not valid till that low breaks. My order expires in 2.5 hrs(I give it 4hrs to trigger)

Best
Mike
Thanks Mike, 4hrs to trigger because its a 4H BEOB ? and your target would be 1.3927 or lower
  • #75,437
  • Sep 23, 2010 10:32am Sep 23, 2010 10:32am
Quoting billm
Thanks Mike, 4hrs to trigger because its a 4H BEOB ? and your target would be 1.3927 or lower
Yes I usually only give it one Full bar of whatever timeframe the trigger is. 1.3900 pivot and 1.3800 pivot would be my areas of interest. I have a final take profit around 1.3820 for now but my mgmt changes depending on how the trade moves

Best
Mike
  • #75,438
  • Sep 23, 2010 10:43am Sep 23, 2010 10:43am
Quoting grahamec
Thanks Danny, comment please if you have time
Hey graham, I attached 2 charts to illustrate what kind of pin bar it takes to reverse a trend. The first chart is A/U, the second is a G/J pin bar that we would like to see to have any chance at reversing a trend.

The key difference is a strong bar with confluence.

Hope this helps,

-- Danny
Attached Images
  • #75,439
  • Edited 11:15am Sep 23, 2010 10:54am | Edited 11:15am
Thanks for your help Danny, I will have to make myself a short list/long list of what to look for.
  • #75,440
  • Sep 23, 2010 11:39am Sep 23, 2010 11:39am
Would anyone commenton this?

80 BRN has held and also formed a DBLHC above this level.
Stopping close to resistance. A break of this bar could see 80.90 or as FTA?
On FXCM feed we also had a small pin closing over 80.
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