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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

  • #77,481
  • Oct 14, 2010 2:04pm Oct 14, 2010 2:04pm
i dont use it for now but... i just noticed that price is respecting these levels (put a green and blue color to see better for example) ..take any chart H4 .. for example USDCAD or GBPJPY...
ie:
GBPJPY:
Sept 14 low @ 150 ema -3140 level
Sept 17 high @ 150 ema 3140 level
Oct 12 low @ 300 ema -3140 level....
  • #77,482
  • Oct 14, 2010 2:32pm Oct 14, 2010 2:32pm
NZD/USD H4 BUOB Retrace to previous resistance
I took this trade a couple of days ago sorry for delay in posting.

Entry 0.7510
SL 0.7480
TP 0.7510
Moved to Be/E to quick really at 0.7532 took half off
Reached Target for remainder

Buob
strong uptrend with 3 distinct touches
Retrace to 0.7500BRN -PPZ 61.8 % Fib
Please Critic where needed so I can continue to improve
I use 3 clicks to size picture if it needs changing larger or smaller please let me know.
Thanks
D
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  • #77,483
  • Oct 14, 2010 2:41pm Oct 14, 2010 2:41pm
PB with a Retouch on the 99 level, should we go long ?

Comments, critics, ideas, thoughts..etc are welcomed

Os.
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Trade Smart
  • #77,484
  • Oct 14, 2010 3:22pm Oct 14, 2010 3:22pm
Quoting damien100
NZD/USD H4 BUOB Retrace to previous resistance
I took this trade a couple of days ago sorry for delay in posting.

Entry 0.7510
SL 0.7480
TP 0.7510
Moved to Be/E to quick really at 0.7532 took half off
Reached Target for remainder

Buob
strong uptrend with 3 distinct touches
Retrace to 0.7500BRN -PPZ 61.8 % Fib
Please Critic where needed so I can continue to improve
I use 3 clicks to size picture if it needs changing larger or smaller please let me know.
Thanks
D
Hey D

Looks great and really thought out. I like an entry on the retrace say at the BRN 7500, and then a stop around 7445, under that min trendline, under the 50 round number and under the left lows of that bigger buob too.

But like the way you used all the core concepts to generate a trade plan. This is great stuff

Mike
  • #77,485
  • Oct 14, 2010 3:25pm Oct 14, 2010 3:25pm
Quoting Osman
PB with a Retouch on the 99 level, should we go long ?

Comments, critics, ideas, thoughts..etc are welcomed

Os.
Tough one Os, I think because of the bar size and lack of space on the retrace you put your FTA right near by at the 9950 level. I like that better if you say played the 1hr BUOB off this level b/c it gives you a bit more room to work with. I think the small 4hr pin handcuffs you a bit especially at this late time in the day. Not saying it may not bust through being with the trend, but again the mgmt aspect is important and if you are one who hates losses, and likes to move stops quick then you have to be super quick on a bar of this size at this location.

Best
Mike
  • #77,486
  • Oct 14, 2010 3:39pm Oct 14, 2010 3:39pm
Quoting mbqb11
Tough one Os, I think because of the bar size and lack of space on the retrace you put your FTA right near by at the 9950 level....
Hey Mike,

Thx for your words, the 1hr bar stopped at 99.50 to the pip !!

If the 4hr bar closed around 99.30 i would take a shot at it, but now.. not worth it.

Didnt realized the 99.50 resistance until I check the 1hr charts

Mike, could we have your view on the daily setups we were talking about few posts before ?

Thx !!

Os.
Trade Smart
  • #77,487
  • Oct 14, 2010 3:50pm Oct 14, 2010 3:50pm
Quoting Osman
Hey Mike,

Thx for your words, the 1hr bar stopped at 99.50 to the pip !!

If the 4hr bar closed around 99.30 i would take a shot at it, but now.. not worth it.

Didnt realized the 99.50 resistance until I check the 1hr charts

Mike, could we have your view on the daily setups we were talking about few posts before ?

Thx !!

Os.
Hey Os

No problem any ones specifically. According to what my closes are going to be(only 10 mins left) nothing will be a valid bar. Like you said for any of the pinbars you need an open and close within the prior bar. The others have very neutral bar looks like usd/cad which has open and close near middle and is an indecision candle versus a reversal type candle.

To me we have very small uninteresting bounces today. Agreed nice levels to be watching at parity for aud/usd and into 80 on the usd/jpy But gotta wait for the trade that screams trade me


Best
Mike
  • #77,488
  • Oct 14, 2010 4:06pm Oct 14, 2010 4:06pm
Entered early on the touch trade and stopped out.
.
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  • #77,489
  • Oct 14, 2010 4:26pm Oct 14, 2010 4:26pm
Quoting nasir.khan
Entered early on the touch trade and stopped out.
.
The touch trade worked, but it was on the retest of the major TL on the daily.

This is a very strong area as you can see by my charts. The nice 4 hour pinbar that formed could take this a lot further.
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Cap
  • #77,490
  • Oct 14, 2010 4:34pm Oct 14, 2010 4:34pm
Quoting The Captain
The touch trade worked, but it was on the retest of the major TL on the daily.

This is a very strong area as you can see by my charts. The nice 4 hour pinbar that formed could take this a lot further.
Yea of course it worked. But my entry was too early and my SL was on 6111 and the high on my feed was 6103 so not a good spread too.

Yea also missed that TL. Thanks.
.
  • #77,491
  • Oct 14, 2010 4:42pm Oct 14, 2010 4:42pm
Quoting ghous
Not sure but my guess is every time frame has it's own calculations for the MAs, because obviously the 150 bar closes that the 1H has will be different to the price values of these bar closes on the 4H,

g.
The mathematical calculation of the EMA are the same in every TF, only the variables involved are different. If you want to map an EMA of a 4H-TF to a 1H-TF to see where price on the lower TF is at the moment in relation to the higher TF EMA you'll have to alter the variables. To calculate a 100 EMA on the 1H-TF for example, you need the close of 100 successive 1H-bars, if you want to map a 100 EMA of the 4H-TF onto the 1H-TF, you'll need to substitute the close of each 1H-bar in the expression for the EMA, by the close of each 4th 1H-bar, all the other 1H-bars between every 4th 1H-bar are redundant because a 4H-TF EMA isn't defined at those points.
Pipcrawler
  • #77,492
  • Oct 14, 2010 5:44pm Oct 14, 2010 5:44pm
Hi all,

I wonder what Rac-man style is?

Can anyone help me with this?

Thanks
Learn2b
  • #77,493
  • Oct 14, 2010 6:03pm Oct 14, 2010 6:03pm
Quoting Learn2b
Hi all,

I wonder what Rac-man style is?

Can anyone help me with this?

Thanks
Learn2b
hey L2b

if you look for raczekfx name and search his posts you will be able to get a better idea. He has many fantastic posts in this thread.

Best
Mike
  • #77,494
  • Oct 14, 2010 6:24pm Oct 14, 2010 6:24pm
I can see a 8hr pinbar, an I4B and a BRN 1.60. This should get very interesting.
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  • #77,495
  • Edited 7:39pm Oct 14, 2010 7:17pm | Edited 7:39pm
Stopped out at 1.59765 after I decided it was struggling too much and took half of the remaining position off at 1.60364.

So, I lost one quarter of the position for minus 30 something pips but took 50 and 20 something pips profit on three quarters of the position.

Seems like it was ok.
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  • #77,496
  • Oct 14, 2010 8:06pm Oct 14, 2010 8:06pm
Quoting mbqb11
Hey D

Looks great and really thought out. I like an entry on the retrace say at the BRN 7500, and then a stop around 7445, under that min trendline, under the 50 round number and under the left lows of that bigger buob too.

But like the way you used all the core concepts to generate a trade plan. This is great stuff

Mike
Hi Mike/Damien,

Mind if you elaborate more on the 'three distinct touches'? Didnt quite get that part
  • #77,497
  • Oct 14, 2010 8:14pm Oct 14, 2010 8:14pm
Quoting Adilius07
So maybe really, I should save myself a headache and just stay away from such clear counter-trend setups. For you guys it's obvious by now (ppz,brn), but when I look at the chart I sometimes just miss them comepletly (even though I know what they are) or they seem as not such a big deal (bar looks much stronger)...

Ok, so for this trade I would make the following assumptions:
A) Supporting a trade: BUOB, Divergence, Swing Low
B) Against trade: Trend, TL, BRN, PPZ

Yeah, skipping it looks a wiser choice now....
Even though this trade did not work out for you, rest assured it did make a good case study for me. All the best in further endeavour
CY
  • #77,498
  • Oct 14, 2010 8:26pm Oct 14, 2010 8:26pm
Quoting mbqb11
hey L2b

if you look for raczekfx name and search his posts you will be able to get a better idea. He has many fantastic posts in this thread.

Best
Mike
Thank you Mike
Cheers
Learn2b
  • #77,499
  • Oct 14, 2010 9:41pm Oct 14, 2010 9:41pm
Quoting xmzhang
The mathematical calculation of the EMA are the same in every TF, only the variables involved are different. If you want to map an EMA of a 4H-TF to a 1H-TF to see where price on the lower TF is at the moment in relation to the higher TF EMA you'll have to alter the variables. To calculate a 100 EMA on the 1H-TF for example, you need the close of 100 successive 1H-bars, if you want to map a 100 EMA of the 4H-TF onto the 1H-TF, you'll need to substitute the close of each 1H-bar in the expression for the EMA, by the close of each 4th 1H-bar, all the...
That only works for an SMA

Either way, it probably doesnt matter. There are such a wide variety of market participants with such a wide variety of approaches which incorporate such a wide variety of MAs, timeframes and calculation methods that the little differences are unlikely to mean much at all.
When you have to shoot, shoot. Dont talk.
  • #77,500
  • Oct 15, 2010 1:22am Oct 15, 2010 1:22am
Hi Jim,

I spent the last couple of hours reading messages on your thread and it is very informative. Thanks for creating this thread and your contributions. I have a basic question. How do you personally determine if the trend is up, down, or in a range? What method do you use to determine the direction when you are looking at a bare chart without indicators? If answering this question will take too much of your time, can you please point me to where I can find the answer on the forum? Thanks for your help.

NYCDweller
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