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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

  • #88,621
  • Feb 10, 2011 5:02am Feb 10, 2011 5:02am
Is here somebody that trade in europe and knows a feed with a daily candle close at 9 or 10 pm? I live at Holland with +1 gmt.
FxPro closes here at 11 pm but that is a bit late when i need to work the next morning.
  • #88,622
  • Feb 10, 2011 5:07am Feb 10, 2011 5:07am
Quoting Pinbar
.. I didn't really mean in the sense of the USD/CAD range, I meant in general.
....
yes, just used usdcad as an example.

Quoting Thierry
Is here somebody that trade in europe and knows a feed with a daily candle close at 9 or 10 pm? I live at Holland with +1 gmt.
FxPro closes here at 11 pm but that is a bit late when i need to work the next morning.
not from Europe, & not sure right now...
but u can try IBFX & FXCM MT4.
  • #88,623
  • Feb 10, 2011 5:09am Feb 10, 2011 5:09am
Quoting Thierry
Is here somebody that trade in europe and knows a feed with a daily candle close at 9 or 10 pm? I live at Holland with +1 gmt.
FxPro closes here at 11 pm but that is a bit late when i need to work the next morning.
Hi Thierry

Im in UK and use VT platform(cmsfx.com) which has a 10pm GMT daily close(i also have other feeds).

Kal
  • #88,624
  • Feb 10, 2011 5:24am Feb 10, 2011 5:24am
Quoting Ifmyante
Thanks Steve
...
no, it's FF Cal indicator. search for it.
havent used it, so PM him if u have related questions.
  • #88,625
  • Feb 10, 2011 5:34am Feb 10, 2011 5:34am
Oh, sorry

I gave you the clock instead of the news indicator.

I am a bit out of it with this cold.


Here you go.

Sorry
Attached File(s)
File Type: mq4 FFCal.mq4   50 KB | 287 downloads
  • #88,626
  • Feb 10, 2011 5:38am Feb 10, 2011 5:38am
Thanks supreme and kalbar
  • #88,627
  • Feb 10, 2011 5:52am Feb 10, 2011 5:52am
Quoting jarroo
Hey Bill . .you can see that the 1.5375 acted as Support. I have found that these confluenced area can work in reverse . .meaning this confluenced area of Resistance we would be looking for bearish PA but without that crucial Close below the 1.5375 (previous Resistance) ..this confluenced area will act a strong Support.

I hope that makes sense .

Jim
Wow, this post is fantastic Jarroo, you have helped me immensley with this one post. i was always making sure closes were below round numbers.
This post highlights the even more specific and detailed we can be with closes . Thank you... wow that 1.5375 was the key with this trade. I thought a close below 1.54 was enough but i need to look ever more CLOSELY next time

Shane
  • #88,628
  • Feb 10, 2011 5:58am Feb 10, 2011 5:58am
Quoting Thierry
Is here somebody that trade in europe and knows a feed with a daily candle close at 9 or 10 pm? I live at Holland with +1 gmt.
FxPro closes here at 11 pm but that is a bit late when i need to work the next morning.
Im in Ireland and the close is 10 pm so technically we see the same daily bar close. When i was in Italy the same bar closed at 11pm like you +1gmt.
I would suggest using fxpro with this close as it is in line with the US close, otherwise your charts will be different to other peoples here.. It was a bummer when i was in Italy because i would be up to 12 analysing charts, the extra hour in Ireland makes a big difference.
  • #88,629
  • Feb 10, 2011 6:10am Feb 10, 2011 6:10am
Quoting Pinbar
My mind goes into the box phase with the USD/CAD chart, on the daily.

SC did a great job on the line chart but, it just makes me crazy trying to work this out on the weekly.

The thing that is confusing I think is that, we have alternating ranging going on large boxes then smaller boxes and overlapping boxes.
I mean, a range seems to establish then it breaks out and sort of starts a new range half inside the older ranges.
I agree with SC that you're over analyzing your charts Steve,

Try keeping it simple down to the very core basics.

refer to the video.

Inserted Video




g.
I believe . . .
  • #88,630
  • Feb 10, 2011 6:31am Feb 10, 2011 6:31am
Quoting ghous
I agree with SC that you're over analyzing your charts Steve,

Try keeping it simple down to the very core basics.

refer to the video.

http://www.youtube.com/watch?v=L2Cfwxq7jUg



g.
Nice one g
Be bullish on you.
  • #88,631
  • Feb 10, 2011 6:34am Feb 10, 2011 6:34am
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
Quoting ghous
I agree with SC that you're over analyzing your charts Steve,

Try keeping it simple down to the very core basics.

refer to the video.

http://www.youtube.com/watch?v=L2Cfwxq7jUg



g.
Hey G, that was a fantastic video.
Hope you will roll out more
I have seen the enemy, and it is me.
  • #88,632
  • Feb 10, 2011 6:48am Feb 10, 2011 6:48am
Quoting Jey
Hey G, that was a fantastic video.
Hope you will roll out more
Me too. Until that video, analysing that pair seemed like roller skating in a potato field
  • #88,633
  • Feb 10, 2011 6:52am Feb 10, 2011 6:52am
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)

Nice post SC.

It went to 1.6081 before reversing. You nailed it.

I managed to squeeze a few pips out of this too but it was always going to be a quick trade for me due to interest rates annoucement. I love the London Open trades on low time frames though.
  • #88,634
  • Feb 10, 2011 7:07am Feb 10, 2011 7:07am
2D-PB @ double bottom but lots of bar lows ahead. Yesterday Loonie made a nice PB closing above them bar lows, preemptive breakout trade of that PB on the 1H-TF via BUOB ............
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Pipcrawler
  • #88,635
  • Feb 10, 2011 7:57am Feb 10, 2011 7:57am
I was always told this when I used to donate all my money to "guru's" but I now see things a bit differently. I particularly like to trade USDCHF and USDJPY as I was always told they were such a waste of time.

I was inspired by Ghous, although I am not savvy enough to make a video, I will try and illustrate the same point using this "worthless" pair, UJ.

540 pips in the last 30 days and one lot running.

Nothing more than a fib, confluence, and having an educated idea of where price "wants" to try and go.
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Be bullish on you.
  • #88,636
  • Feb 10, 2011 8:27am Feb 10, 2011 8:27am
Quoting mbqb11
What do you mean spookie? Remember what these areas represent. An agreement in historical price, supply/demand pockets . Knowing where these are and what they look like are just another piece to the puzzle and finding an area of interest

Best
Mike
I just meant it would be easier to be more precise if you could just mark the open/close or high/low and not have to worry about the other. Sorry took so long to respond. I went to bed.
  • #88,637
  • Feb 10, 2011 8:33am Feb 10, 2011 8:33am
Quoting supremeChaos
here's a very quick, rough one i plotted for u.

if it gets difficult to plot PPZs, S/R's, starting with a line chart (focusing on Closing Prices) might help.
afterwhich, u can switch between line chart, candle chart, bar chart (in any order u prefer) to refine the lines &/or to add a few more lines u might have missed along the plotting process.

1st chart: usdcad weekly, line chart
2nd chart: usdcad weekly, candle chart
3rd chart: usdcad weekly, candle chart, zoomed in

take note that all the lines were made off of the line chart (1st chart).
only...
Thanks SC forgot all about using a line chart. I usually try to round to the nearest 50 or 100. Use the 10's like you suggest should help refine it even more.
  • #88,638
  • Feb 10, 2011 8:33am Feb 10, 2011 8:33am
fib confluence + strong support and a nice pin.
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  • #88,639
  • Feb 10, 2011 8:42am Feb 10, 2011 8:42am
Quoting spookie94
I just meant it would be easier to be more precise if you could just mark the open/close or high/low and not have to worry about the other. Sorry took so long to respond. I went to bed.
If it is easier for you to use one or the other, that is ok too. But I think if you just visually step back and say what is price doing here? And define those areas you will have a better go at it

Best
Mike
  • #88,640
  • Feb 10, 2011 8:49am Feb 10, 2011 8:49am
Price broke thru 133 level. H4 BUOB Might be nice opportunity to enter.
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