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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

  • #88,601
  • Feb 10, 2011 4:07am Feb 10, 2011 4:07am
Quoting Ifmyante
Hi Zachariah, and welcome

You certainly did find the best place to learn.

I'm not sure about what each of your arrows signifies, but your chart is one I'm looking at at the moment.

Looking good, Jarroo will be proud. Way to go.

I don't like this area on the weekly though.
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  • #88,602
  • Feb 10, 2011 4:12am Feb 10, 2011 4:12am
Quoting Pinbar
Looking good, Jarroo will be proud. Way to go.

I don't like this area on the weekly though.
And that might very well be why it's having trouble finding support right now on the lower TFs
  • #88,603
  • Feb 10, 2011 4:12am Feb 10, 2011 4:12am
Quoting Thierry
daily and 4h eur usd chart.
Daily candle closed below ppz (in my book) 1.3750. I just trade a touch because of the time here (europe).
I looked at the 4h and see a i4b? i'm not really focussed on IB yet.
Was this a good i4b with the story of the daily close in mind?
nice touch trade. at what price?

let's make it clear:
daily candle -- u mean the green candle(2nd candle from the right, daily chart)
4h I4B -- u referring to the 3rd red candle from the right (4H chart)?

if so, IMHO, yes, it fits in with the story & your (short) trade.
if u look, that 4h IB is also a 2-bar IB.
  • #88,604
  • Feb 10, 2011 4:12am Feb 10, 2011 4:12am
Quoting Fxpat
If this 1 hr pin breaks north I am in.

Comments??
The 1.6075ish area?
  • #88,605
  • Feb 10, 2011 4:17am Feb 10, 2011 4:17am
Quoting Thierry
daily and 4h eur usd chart.
Daily candle closed below ppz (in my book) 1.3750. I just trade a touch because of the time here (europe).
I looked at the 4h and see a i4b? i'm not really focussed on IB yet.

Was this a good i4b with the story of the daily close in mind?
eurusd is a pair I like too.IF the day closes as now it is interesting,a 2 day PB as a W-PB'pullback.I will be very quickly in managing the trade because of traffic.
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Nothing personal,just business
  • #88,606
  • Feb 10, 2011 4:17am Feb 10, 2011 4:17am
Quoting supremeChaos
nice touch trade. at what price?

let's make it clear:
daily candle -- u mean the green candle(2nd candle from the right, daily chart)
4h I4B -- u referring to the 3rd red candle from the right (4H chart)?

if so, IMHO, yes, it fits in with the story & your (short) trade.
if u look, that 4h IB is also a 2-bar IB.
Take the trade at the close of the green candle. around 1.3730. Closed my trade at the fta 1.3615
Thanks for your opinion
  • #88,607
  • Feb 10, 2011 4:17am Feb 10, 2011 4:17am
Quoting johoma
The 1.6075ish area?
1.6068 just entered for me. As its an hrly I use 2pips for spread and 3 points for buffer. where as 4hr trades 4-8pips buffer and daily/weekly 10-20 buffer. Depending on situation of course.

Oh and just executed.
  • #88,608
  • Feb 10, 2011 4:18am Feb 10, 2011 4:18am
Quoting Ifmyante
And that might very well be why it's having trouble finding support right now on the lower TFs

Yeah, there is news on the cards also.
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  • #88,609
  • Feb 10, 2011 4:19am Feb 10, 2011 4:19am
Quoting Fxpat
If this 1 hr pin breaks north I am in.
Comments??
awesome PPZ on H4.
trade can go either way.. if H1 pin breaks, u need momentum.. & watch out primarily for 1.6080 - 1.61 area.

if u follow news, there is GBP interest rate decision later(check FF calendar)
  • #88,610
  • Feb 10, 2011 4:19am Feb 10, 2011 4:19am
Quoting supremeChaos
nice touch trade. at what price?

let's make it clear:
daily candle -- u mean the green candle(2nd candle from the right, daily chart)
4h I4B -- u referring to the 3rd red candle from the right (4H chart)?

if so, IMHO, yes, it fits in with the story & your (short) trade.
if u look, that 4h IB is also a 2-bar IB.
I think H4 IBs are my next item to study.
Now, if they fit in well with the story, they can be a great help.
But how much less weight should you give them if they were, let's say, 20:00 to 00:00 gmt?
  • #88,611
  • Feb 10, 2011 4:24am Feb 10, 2011 4:24am
I very very rarely trade 14b's and hardly see anyone take them in here either. I noticed this one and let it go.

Can some one give me advice regarding this one ad im trying to work on these to implement in my tollbox for the future.

Any help would be appreciated.

Thanks in advance,

PAT.
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  • #88,612
  • Feb 10, 2011 4:25am Feb 10, 2011 4:25am
Quoting Ifmyante
Steve

There's a certain indi I'd like to ask you about

Ask away...
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  • #88,613
  • Feb 10, 2011 4:28am Feb 10, 2011 4:28am
Quoting Thierry
Take the trade at the close of the green candle. around 1.3730. Closed my trade at the fta 1.3615
..
yeah, that was a quick hitter.
awesome!

Quoting Ifmyante
I think H4 IBs are my next item to study.
Now, if they fit in well with the story, they can be a great help.
But how much less weight should you give them if they were, let's say, 20:00 to 00:00 gmt?
IMHO, more often than not, the time it happened is critical.
so if it happens around 2-3am EST to 10-12pm EST (encompassing entire Europe session & early to mid US session), then the IB has more weight, i think.
same thing with pinbars, etc.
  • #88,614
  • Feb 10, 2011 4:28am Feb 10, 2011 4:28am
Quoting supremeChaos
usdcad is essentially in a range on weekly. it would consequentially reflect this (ranging) on lower timeframes. so, it is not confusing at all.
i think u are overanalyzing it again.

usdcad might be good for PPZ plotting right now, but might not be good to trade at the moment (depending on how u trade, of course).

Yes, SC.....That is my topic for tomorrow.
Analysis paralysis

KEEP IT SIMPLE!

I am always finding a reason to not take a trade, just like I found one for IFY......MuuuuuuuHaaaaaaaa Haaaaaaaaaaaaaaaaaaaaaaa

HELP SC, Ghous & Jarrooooooooooooooooooooooooooooooo!
  • #88,615
  • Feb 10, 2011 4:33am Feb 10, 2011 4:33am
Quoting supremeChaos
awesome PPZ on H4.
trade can go either way.. if H1 pin breaks, u need momentum.. & watch out primarily for 1.6080 - 1.61 area.

if u follow news, there is GBP interest rate decision later(check FF calendar)
Heya,

thanks SC but I deliberately started a few years ago not paying attention to the news. It really was messing with me. I was forming biases and making tons and tons of mistakes based around news events.

I had the ideal trading set up with live news feeds 24/7 and I cant explain how bad it messed me up. When I went back and did backtesting it occured to me that the method I was using netted me nice profits (in back test) and thats not taking any news or announcements into account. Yes I had losses in backtest and who knows some may have been news related but wither way I personally am much better of with out.

The only news I take into account is NFP and thats more just not pulling the trigger on news first Fri of every month on USD pairs. Last week GU formed that pin will documented in here however as it was NFP I simply traded GBPNZD instead.

I'm also with you on 6080/6100. Will have full posy at BE here.

Thanks,

PAT.
  • #88,616
  • Feb 10, 2011 4:34am Feb 10, 2011 4:34am
Quoting Fxpat
I very very rarely trade 14b's and hardly see anyone take them in here either. I noticed this one and let it go...
if u are interested in it....
i suggest u read up on jarroo's posts. he occasionally post charts with IBs.

IBs with trend, would be more profitable.
  • #88,617
  • Edited 5:35am Feb 10, 2011 4:37am | Edited 5:35am
Quoting Pinbar
Yes, SC.....That is my topic for tomorrow.
Analysis paralysis

KEEP IT SIMPLE!

I am always finding a reason to not take a trade, just like I found one for IFY......MuuuuuuuHaaaaaaaa Haaaaaaaaaaaaaaaaaaaaaaa

HELP SC, Ghous & Jarrooooooooooooooooooooooooooooooo!
There is absolutely nothing wrong with not trading until you find that setup that baffles you - the one you can't find a reason not to trade, so long as you jump on it in a timely fashion
  • #88,618
  • Feb 10, 2011 4:45am Feb 10, 2011 4:45am
Quoting Pinbar
Yes, SC.....That is my topic for tomorrow.
Analysis paralysis
KEEP IT SIMPLE!
...HELP...
not sure i can help, since i overanalyze too

specifically referring to usdcad we discussed earlier...
if u see it mega-ranging on weekly, most likely it's ranging on daily & below.
if u dont trade ranges, then it would be best to move on to other currency pairs, specially those that u 'understand' &/or trade.

say, if usdcad breaks convincingly out of the range, then u can revisit its charts, for potential setups to analyze.

Quoting Fxpat
Heya,
thanks SC but I deliberately started a few years ago not paying attention to the news. It really was messing with me. I was forming biases and making tons and tons of mistakes based around news events.
....
that's all good, if u trade with wide stops &/or if u trade H4 & up (specially daily & up), since news events just create whipsaws/noise which are not too visible as we go up in Timeframe.

but since u traded gbpusd's H1 pinbar, most likely your stop is nearby... too near to be (possibly) hit by any news pandemonium, specially if the news event is just a few minutes/hours away.
  • #88,619
  • Feb 10, 2011 4:57am Feb 10, 2011 4:57am
Quoting Ifmyante
There is absolutely nothing wrong with not trading until you find that setup that baffles you - the one you can't find a reason not to trade, so long as you jump on it in a timely fashion

Steve, your announcement indi on your last chart. Paid service? If not, can I have it? Pulleeeeeeeeze?

It is the FF Cal. there is a newer one but it is really complicated to use.

I set this to display only on M5 which I hardly ever view, just check it before making a trade.

Here you go. Don't forget to put a check in the DLL imports.
Attached File(s)
File Type: mq4 P4L Clock.mq4   32 KB | 347 downloads
  • #88,620
  • Feb 10, 2011 5:01am Feb 10, 2011 5:01am
Quoting supremeChaos
not sure i can help, since i overanalyze too

specifically referring to usdcad we discussed earlier...
if u see it mega-ranging on weekly, most likely it's ranging on daily & below.
if u dont trade ranges, then it would be best to move on to other currency pairs, specially those that u 'understand' &/or trade.

say, if usdcad breaks convincingly out of the range, then u can revisit its charts, for potential setups to analyze.
Thanks SC....Oh, I didn't really mean in the sense of the USD/CAD range, I meant in general.

I know how to correct it though.
I will go back over all my J16 charts, I reconstructed and saved along with the 3 notebooks of notes on them.
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