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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

  • #78,381
  • Oct 25, 2010 6:52am Oct 25, 2010 6:52am
Quoting xmzhang
Would this be worth a (CT) long shot aiming for the RNB @ 8100 ?
I don't think this one is going to trigger
Pipcrawler
  • #78,382
  • Oct 25, 2010 7:07am Oct 25, 2010 7:07am
Happy Birthday PinBar

I like how disciplined you are and work 14 hours a day reading forex stuff

And now on my Language Alles gute zum Geburtstag xD
  • #78,383
  • Oct 25, 2010 7:07am Oct 25, 2010 7:07am
Quoting xmzhang
Appreciate your comment. But in order to use divergence you'll need two valid swing lows in this case, in order to draw the divergence line on price. The 4H-PB I mentioned isn't a valid swing low yet, for it to be a valid swing low you'll need to wait for the close of the next 4H-bar after the PB, if this next bar has a higher low compared to the low of the PB then and only then the PB is a valid swing low and then you might considering to look for divergence. Also look at the MACD, which hasn't made a local low yet at the location of the PB. Divergence...
Thnaks. It does clear it up
  • #78,384
  • Oct 25, 2010 7:12am Oct 25, 2010 7:12am
Quoting Pinbar
I think it needs to be larger and in RED to instill fear!

Or like this...

Reminds me of the movie Reefer Madness.
I almost fell of my chair laughing.

Thnx for the tears.

g.
I believe . . .
  • #78,385
  • Oct 25, 2010 7:25am Oct 25, 2010 7:25am
To Pinbar: Tanjobi omedeto gozaimasu (well or something like that)

May the force be with you.
Pipcrawler
  • #78,386
  • Oct 25, 2010 7:29am Oct 25, 2010 7:29am
Quoting xmzhang
Price has hit FTA @ 12650 intraday low, closed 1/2 position for a 40 pip profit let the other 1/2 go all the way to ?
Closed remaining postion for another 20 pip, price seems to obey the intraday low @ 12650 as support now.
Pipcrawler
  • #78,387
  • Oct 25, 2010 7:32am Oct 25, 2010 7:32am
http://i7.photobucket.com/albums/y28.../jamesgold.jpg

I entered this on silver an gold. Both show a bounce off of rising trend line after a retrace. ones a pin and the other is a hammer. Looked good to me. As the US is still making price of milk gas and everything else go up except my paycheck.
  • #78,388
  • Oct 25, 2010 7:44am Oct 25, 2010 7:44am
Quoting xmzhang
Appreciate your comment. But in order to use divergence you'll need two valid swing lows in this case, in order to draw the divergence line on price. The 4H-PB I mentioned isn't a valid swing low yet, for it to be a valid swing low you'll need to wait for the close of the next 4H-bar after the PB, if this next bar has a higher low compared to the low of the PB then and only then the PB is a valid swing low and then you might considering to look for divergence. Also look at the MACD, which hasn't made a local low yet at the location of the PB. Divergence...
Hi xmzhang, wouldn't it be reasonable to look at the preceding divergence (see chart)? Or is divergence taken out by the price plunging down again? Thanks for your help.
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Thanks J16, Sam Seiden, Udine and Jacko
  • #78,389
  • Oct 25, 2010 8:12am Oct 25, 2010 8:12am
a very nice PB on 4hrs. Put 2 minlots i have closed one for 50 pips another one still on the same SL. Will follow it keenly.
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  • #78,390
  • Oct 25, 2010 8:14am Oct 25, 2010 8:14am
Quoting Edonya
a very nice PB on 4hrs. Put 2 minlots i have closed one for 50 pips another one still on the same SL. Will follow it keenly.
Hi Edonya, what pair is it?

EDIT: Ah I see, it's EU. Maybe a little bit small and trading right into 1.4000. What do you think?
Thanks J16, Sam Seiden, Udine and Jacko
  • #78,391
  • Oct 25, 2010 8:18am Oct 25, 2010 8:18am
Quoting Edonya
a very nice PB on 4hrs. Put 2 minlots i have closed one for 50 pips another one still on the same SL. Will follow it keenly.
Nice! With Div too
  • #78,392
  • Oct 25, 2010 8:53am Oct 25, 2010 8:53am
My attention is now on this one, what do you think? Please every kind of comment is welcome
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  • #78,393
  • Oct 25, 2010 8:58am Oct 25, 2010 8:58am
hiya, just thought i'd share a cuople, on Demo of course!
trade well
RS
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  • #78,394
  • Edited 9:19am Oct 25, 2010 9:08am | Edited 9:19am
Made a backtest on my 4H EUR/USD. Going back to January 2009!
I had 39 trades where just 1 was a looser
Wahaha is it just because hindsight, or have I found a secret?

The only problem is that 4H is really difficult to trade - checking charts in 4 hours intervals just don't fit me ((( I can either sit whole day or just come once a day/week... hmm how to make it work for me!?!?!

EDIT: On average 4H TF would give me 1 trade in 3-4 days...
  • #78,395
  • Oct 25, 2010 9:11am Oct 25, 2010 9:11am
Quoting Revstar
hiya, just thought i'd share a cuople, on Demo of course!
trade well
RS
What made you sell gold way up there? I see the momentum was crazy high.
  • #78,396
  • Oct 25, 2010 9:15am Oct 25, 2010 9:15am
Quoting nuclear62
My attention is now on this one, what do you think? Please every kind of comment is welcome
Just seems a little tight for your sell stop. dont know the thing your trading but if its range bound then it could fake you out.
  • #78,397
  • Oct 25, 2010 9:20am Oct 25, 2010 9:20am
Hiya eagle, if you look on 4 hour there was a bearish outside bar (15th Oct), it pulled back then went south....

in addition to this I have been hanging around racscave and J16 for a couple of months... now....

for info I am no longer there... learnt so soo soooo much... very gratefull to you guys....

Quoting ^eagle^
What made you sell gold way up there? I see the momentum was crazy high.
  • #78,398
  • Oct 25, 2010 9:23am Oct 25, 2010 9:23am
Also, when you develop more confidence (with time), you can spot setups easier and trade with less baggage... if that makes sense.. so its no longer way up there or way down there, its just a trade... like any other...

Quoting Revstar
Hiya eagle, if you look on 4 hour there was a bearish outside bar (15th Oct), it pulled back then went south....

in addition to this I have been hanging around racscave and J16 for a couple of months... now....

for info I am no longer there... learnt so soo soooo much... very gratefull to you guys....
  • #78,399
  • Edited 5:52pm Oct 25, 2010 9:23am | Edited 5:52pm
Anyone interested in this?
Yellow is entry
Break Even @ 1.6100
Take Profit @ 1.6196
Risk 2%

+Off BRN
+MACD Divergence

Comments?

Oh Well...Trade didn't trigger.
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  • #78,400
  • Oct 25, 2010 9:53am Oct 25, 2010 9:53am
Interesting. My FxPro 4H bar ends the same as Thinkorswim. Both look identical. However MACD histogram is very diffetent.. thinkorswim has clear divergence Fxpro not.... wow whom can you trust in this business ((

Anyone know what could be a problem? (parameters are identical of course)
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