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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

  • #83,421
  • Dec 22, 2010 8:34am Dec 22, 2010 8:34am
Quoting mbqb11
Jim would write

http://www.forexfactory.com/showpost...ostcount=39300
nice!!
  • #83,422
  • Dec 22, 2010 8:45am Dec 22, 2010 8:45am
Quoting mbqb11
? Not sure what you mean here D.

A proxy pin is when the open and close are not within the prior bar. Both are valid pins with open and closes within the prior bar and very big bars

Let me know

Mike
The one you posted up is a green bullish bar signalling a long trade:

http://cdn.forexfactory.com/attachme...1&d=1293031680


The one you referred to in James' post closed as a red bar with the close lower than the open:

http://cdn.forexfactory.com/attachme...1&d=1248900557

I know they are both great looking bars in terms of size and location. Not meaning to pick hairs it's just what I noticed when I looked at them both.

I understand that there are some grey areas and sometimes a bar will be just so good that something like this can be ignored.

It's all good
Anything can happen.
  • #83,423
  • Dec 22, 2010 8:46am Dec 22, 2010 8:46am
On this USDCHF chart, if you look on the left you'll see the dip below the PPZ back in October. In that case, the bar that closed below the PPZ had a longer tail. Was this an indication that price might shoot back up above? For today's bar on the far right, it has not yet closed but assuming it closed as it looks in the picture, with a short tail at the bottom, is this a better indication that price will continue lower without a significant retest of the PPZ?

Just trying to get an idea of your thought process if you have been successful at these situations!
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  • #83,424
  • Dec 22, 2010 8:49am Dec 22, 2010 8:49am
Quoting g_j_hook@yah
hi geniusztc, sorry to be a party pooper but dont celebrate the us/chf trade too hard yet. That was what i have come to term as a sucker trade (to myself! im not calling you a sucker! ...
you are soooooooooo right !" jus dont want you to pick up any bad habbits" thank you .yes , i have this bad habbits. you are right . actually when i setted up this order ,i only considered the stop lose position @ 9500, i did not consider the TP position, but, i had analysis the resistance levels(look at my chart), the one wrong choice is that i did not insist on my analysis, and i am greedy for more pips .

master，i will correct.
and the next time ,do not worry about hurt me. just give me your bitter criticism . you know as a newbie ,i need it .
A chart helps those who can read it.
  • #83,425
  • Dec 22, 2010 8:51am Dec 22, 2010 8:51am
Quoting Pinbar
Went to BE and am going to leave it overnight.

If the back of that PB breaks, we may be in with a chance of a good run down.


EDIT: It just broke.
This is interesting Pinbar. Was this a touch trade? I'm still too chicken to do those, and I don't think I will ever grow to execute them, just looks too scary for me those touch trades....
  • #83,426
  • Dec 22, 2010 8:55am Dec 22, 2010 8:55am
a good area for bullish pa. trendline, fib, rn 83.50.
uj h4
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meine augen sind die sterne
  • #83,427
  • Dec 22, 2010 8:55am Dec 22, 2010 8:55am
Quoting ddinnov
The one you posted up is a green bullish bar signalling a long trade:




The one you referred to in James' post closed as a red bar with the close lower than the open:



I know they are both great looking bars in terms of size and location. Not meaning to pick hairs it's just what I noticed when I looked at them both.

I understand that there are some grey areas and sometimes a bar will be just so good that something like this can be ignored.

It's all good
Hey D

I just wanted to make sure you understood that a pinbar is one as long as the open and close are within the prior bar. Close doesn't have to be higher. I agree sometimes it can make it a better setup depending on various factors. A proxy pin is one that doesn't have the close within the prior bar and uses a previous other bar(not the left one) as it's proxy for a close within

Best
Mike
  • #83,428
  • Dec 22, 2010 9:11am Dec 22, 2010 9:11am
For anyone who may be interested. I found the way to go through the charts really quick and efficient ( at freestockcharts).

1. Choose TF you need, like 3 day in my example.
2. Have your running ticker board set to Forex - (fastest speed is best)
3. Click on any pair you want (I just click one by one)

And you get your pair on the current TF right in front of you.
No need to do/type anything manually. I love it.

EDIT: If anyone knows what time their daily bar close and tell me, I will be greatly thankful. Just cant catch their daily bars close....
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  • #83,429
  • Dec 22, 2010 9:12am Dec 22, 2010 9:12am
James/Mike,

do you have any spreadsheet you could share for money management? Couldnt find anything on james16group.us

Thanks
  • #83,430
  • Dec 22, 2010 9:34am Dec 22, 2010 9:34am
Quoting torontobboy2
James/Mike,

do you have any spreadsheet you could share for money management? Couldnt find anything on james16group.us

Thanks
Sorry Toronto the one I use is copyrighted. I am sure if you do a quick search on FF for money mgmt spreadsheet you should get a tons of hits

Best
Mike
  • #83,431
  • Dec 22, 2010 9:36am Dec 22, 2010 9:36am
Quoting Adilius07
NO Cprao, unfortunately no, still trying to figure this out myself.
Adi, No problenm. I even liked their userfriendly charts.. hence curious to know day closing times.
  • #83,432
  • Dec 22, 2010 9:43am Dec 22, 2010 9:43am
Quoting aserbfx
a good area for bullish pa. trendline, fib, rn 83.50.
uj h4
.
back into the choppy forest.
as long as 83.00 - 83.50 doesn't get breached convincingly, i still expect this pair to break above the 84.50 high.... maybe after Christmas.

Quoting Adilius07
For anyone who may be interested. I found the way to go through the charts really quick and efficient ( at freestockcharts).
...
EDIT: If anyone knows what time their daily bar close and tell me, I will be greatly thankful. Just cant catch their daily bars close....
thanks for sharing!

i havent used that platform...
not sure if it helps, but ,doesnt counting bars backwards help determine the time/daily close?
  • #83,433
  • Dec 22, 2010 9:44am Dec 22, 2010 9:44am
YEAH!
School holidays now im ready to study so disciplined like Pinbar the method. It was really hard for me the last two weeks 4 exams per week no time for forex because School comes first for me ;-)
  • #83,434
  • Dec 22, 2010 9:48am Dec 22, 2010 9:48am
Quoting supremeChaos
.

i havent used that platform...
not sure if it helps, but ,doesnt counting bars backwards help determine the time/daily close?
ahh you seriously? But how.. I don't think I get it..
  • #83,435
  • Dec 22, 2010 9:55am Dec 22, 2010 9:55am
So I caught a BEOB on GBPUSD, no surprise there I believe other people have already spoken about it .. I'm in profit at the moment, my sell triggered at 1.5455 and I am currently 100 pips into profit. I've moved to break eve, I think I'll move a big more to make sure I steal at least some of this profit if it all goes wrong before my TP is triggered .. My question is where I should set these limits.

I'm using 0.05 lot sizes, it's a demo account I started with a small amount and 0.05 seemed like a good place to take some good percentage profits on high moves. I am doing my best for TP/SL settings but I am not sure 100% how far to have my TP ? It would be horrible for it to NEARLY reach it then come all the way back again I am sure, even on a demo! At the moment it's set for 1.5310, I think it'll get to 1.53 but I wanted to trigger before the BRN so I can avoid some risk of it bouncing off .. Am I doing it right?

Ok I know there's no hard fast answer to it, but if I can hear what some other 'experts' are thinking, I'll know whether I am at least on the right lines to becomming a winner /
  • #83,436
  • Dec 22, 2010 10:05am Dec 22, 2010 10:05am
Quoting Adilius07
ahh you seriously? But how.. I don't think I get it..
u want to know the time the daily bar closes (relative to your local time), right?
why not count backwards.... i mean, check what time, example in the H1 chart, yesterday's last bar closed. then compare it to the current time.
do it like a crime scene investigator.

did i make sense?
  • #83,437
  • Dec 22, 2010 10:06am Dec 22, 2010 10:06am
Quoting supremeChaos
u want to know the time the daily bar closes (relative to your local time), right?
why not count backwards.... i mean, check what time, example in the H1 chart, yesterday's last bar closed.

did i make sense?
ahhh yes SC, now is much better haha yes. Man you're smart
  • #83,438
  • Dec 22, 2010 10:14am Dec 22, 2010 10:14am
FXCM announced their micro account winner 2 months ago. The trader was from China who turned his $2000 into $20,000 in one month. FXCM also awarded the trader with a good lumsum award.

HUH?
  • #83,439
  • Dec 22, 2010 10:18am Dec 22, 2010 10:18am
Quoting supremeChaos
u want to know the time the daily bar closes (relative to your local time), right?
why not count backwards.... i mean, check what time, example in the H1 chart, yesterday's last bar closed. then compare it to the current time.
do it like a crime scene investigator.

did i make sense?
Alright, with a huge risk of embarassement... they close at 23:00 NYC Time.
I know sounds strange, but looks to be so!
  • #83,440
  • Dec 22, 2010 10:20am Dec 22, 2010 10:20am
Quoting AlanB
So I caught a BEOB on GBPUSD, no surprise there I believe other people have already spoken about it .. I'm in profit at the moment, my sell triggered at 1.5455 and I am currently 100 pips into profit. I've moved to...

Hey Alan

I like all that confluence for the BEOB on the 4hr(I am guessing that is what you took up near 1.55). We are now approaching a former area of supply/demand multiple lows here so price may react here. If it can cut through this it could act as resistance on the way down lower. I think the most important thing is you protected yourself. We are nearing the end of the year so that would be a factor in my decision if I was in it(to lock in profits).

Congrats on your nice trade
Mike
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