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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

  • #89,181
  • Feb 16, 2011 1:55am Feb 16, 2011 1:55am
Quoting Greenhaze
Anyone entered EU longs at the support level?
So much talking about EU shorts and in the meantime its going steadily up.
I still think price can fall for stop orders stacked around 1.3400 before any/if substantial move up. Nonetheless we have first test of this strong support and bounce is fully expected.

Yeah . .but it was about a month ago . . . . .nice little run.
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Indicators show the past. Price Action "Indicates" the future.
  • #89,182
  • Feb 16, 2011 1:58am Feb 16, 2011 1:58am
Quoting ghous
I can bet my bank you aren't

g.

I agree with you . . .but sometimes I see some posts and wonder.
Indicators show the past. Price Action "Indicates" the future.
  • #89,183
  • Feb 16, 2011 2:00am Feb 16, 2011 2:00am
hey jim !

could you be so kind and post your opinion on audusd ? ( big picture ).
We got a huge bearish divergence on the weekly chart, where would you sell? whats the significant levels to watch?

thanks in advance

PhanTi
Hero calls followed by margin calls...
  • #89,184
  • Feb 16, 2011 2:03am Feb 16, 2011 2:03am
Quoting jarroo
I agree with you . . .but sometimes I see some posts and wonder.
yeah and that's why we gotta keep reviewing his charts/videos.

Its amazing how you sometimes want to add a little bit of this and a little bit of that to get over and above your current trading system and then a simple chart smacks you in the face and leaves you speechless.



g.
I believe . . .
  • #89,185
  • Feb 16, 2011 2:13am Feb 16, 2011 2:13am
Quoting PhAnTi'
hey jim !

could you be so kind and post your opinion on audusd ? ( big picture ).
We got a huge bearish divergence on the weekly chart, where would you sell? whats the significant levels to watch?

thanks in advance

PhanTi
Price has been hanging around (consolidating) at the 1.0 parity level for some time. Some good old fashion BIG brearish PA at the 1.0 would be what I'd be waiting for to develop.
Indicators show the past. Price Action "Indicates" the future.
  • #89,186
  • Feb 16, 2011 2:14am Feb 16, 2011 2:14am
Quoting Greenhaze
Anyone entered EU longs at the support level?
So much talking about EU shorts and in the meantime its going steadily up.
I still think price can fall for stop orders stacked around 1.3400 before any/if substantial move up. Nonetheless we have first test of this strong support and bounce is fully expected.
Yep, I did
Setup was an IB of BRN. I liked that price could never close below BRN.
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  • #89,187
  • Feb 16, 2011 2:19am Feb 16, 2011 2:19am
Quoting ghous
yeah and that's why we gotta keep reviewing his charts/videos.

Its amazing how you sometimes want to add a little bit of this and a little bit of that to get over and above your current trading system and then a simple chart smacks you in the face and leaves you speechless.



g.
I can relate to this g. I'll try and make something out nothing some times and wonder why it wasn't working . . a quick James16 chart or video review sets me back on the right path.

I'm making less visits to them . .thank God . . but I still like going through them from time to time.
Indicators show the past. Price Action "Indicates" the future.
  • #89,188
  • Feb 16, 2011 2:30am Feb 16, 2011 2:30am
Quoting jarroo
This is not how James16 manages his trades, I'm not sure where you got this idea. Jim may have been discussing different trade managment styles or something.

Ghous recent post on the Usd/Chf IB is more like how James16 manages his trades.

Jarroo

Jim made a video about this and this is how he showed us to use this as another tool to trail our stop.

He did mention that some people in commodities use this method but, he was showing this on a forex chart and also mentioned that "It is not talked about a lot".


The video title was 10_pin_bar_tutorial

Check it out.
  • #89,189
  • Feb 16, 2011 2:36am Feb 16, 2011 2:36am
Quoting Pinbar
Jarroo

Jim made a video about this and this is how he showed us to use this as another tool to trail our stop.

The video title was 10_pin_bar_tutorial

Check it out.

I'm not doubting you, Pb . . I just don't recall it. I'll check it out.

I'm sure it was just as you said . .another tool to trail your stops.
Indicators show the past. Price Action "Indicates" the future.
  • #89,190
  • Feb 16, 2011 2:38am Feb 16, 2011 2:38am
Quoting jarroo
I'm not doubting you, Pb . . I just don't recall it. I'll check it out.

I'm sure it was just as you said . .another tool to trail your stops.

That was exactly how I intended it when I presented it here.

Did I say this is how Jim does it?

I had better go back and check.


EDIT:

Pinbar wrote:
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Hey, I went back over my notes and found J16 trailing his trades with a fibo from the low of the entry bar and continually moving it up to the high.
Trailing the trade behind the 50 and 38.2 depending on how far away the trade gets from the entry and at key points at RNs.

May be food for thought for you Adi.
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  • #89,191
  • Feb 16, 2011 4:40am Feb 16, 2011 4:40am
Gentlemen,

I took a full PB loss on audusd. It was a small financial loss (20 GB pence) but a massive educational blow.

The way I saw it, price broke through the 1.000 mark on the daily (quite significantly) and waited for a nice PA for confirmation.

PB's came up on the hourly and 4 hourly charts rejecting the 1.000 level.

All this in line with the recent greater trend... all is good.

I was stopped out at 1.00130, above the 4h PB, before literally charging to the down side.

Result: Full PB loss.

Is there something I missed?

It's disappointing. As soon as I start increasing my trade size (all be it very small), I take a step backwards with a loosing trade. It's not the 20 pence I lost that's getting me, it's the loosing trade I voluntarily entered. It could easily have bee GBP200, GBP2000...etc
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  • #89,192
  • Feb 16, 2011 4:41am Feb 16, 2011 4:41am
Quoting ghous
me? No I didn't take it, like I mentioned I could not pull the trigger on this one, but it obviously had a great 'ring' to it. Probably size (too large) was the issue anyways...

Notice what pric did once it hit the 9650 region. Yea, it held as support and we did not get a close below. today's daily bar wants to give it a second push, and we are sort of retesting the area. What does that tell you about the long orders placed at this level? We at least know that the first bounce was weak and could not build on the initial momentum (in which case...
Let's see if 9650 can now hold as resistance.

Wow...this has been one hell of an interesting combat to follow.

g.
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I believe . . .
  • #89,193
  • Feb 16, 2011 5:10am Feb 16, 2011 5:10am
Quoting cprao
Does any one has issue with EA on Oanda MT4 demo ? I was on a trade on CADCHF. I set the EA to closed 50% on reaching 55 pips in the direction of the trade and 30 pips to BE.

Neither it made the trade to BE nor it closed 50% after reaching 55 pips.

I manually made the trade to BE.. but I didn't close 50% of the trade yet manually.

Please see the pic. it says 0 pips to take profit but never executed the trade. I don't see any thing wrong on "experts" tab also.

Does any one has this problem ?
Some months ago, I had problems with this EA. I demoed it well, so I thought took it live and had some unfortunate experiences with it. As best as I remember, there were a couple of issues I encountered. One I remember is having multiple lots of the same pair. I no longer use it.

I am still searching for a reliable break even EA with having different profit targets.



Recently, I have downloaded a free trial of MYFX. But, I have not had the time to test it.

Anyone using a reliable EA Breakeven with Multiple Profit Targets, please let me know.

Bill
  • #89,194
  • Feb 16, 2011 5:12am Feb 16, 2011 5:12am
Quoting Adilius07
Minimum lot size is 0.10, let's pray more
Hey Adi and Bluetrader,

I'm also happy about MT4 with Oanda.

With MT4 you can not have less than 0.10 lot size but we can go around that matter easily.

I'm demoing it and what I do is to set the trades in the FXgame/trade platform with the units I want, and once they are triggered, I managed them in MT4.

This means you can have the flexibility of the units already available with Oanda, with the possibility to manage the trade with an EA.

I hope this is clear enough for you guys.

Cheers,
Nos
  • #89,195
  • Feb 16, 2011 5:34am Feb 16, 2011 5:34am
Quoting jarroo
This was not a crazy prediction about the 1.0 BRN becoming Resistance . .at least on the 1st time back . .
...Thanks for all you do here.
  • #89,196
  • Feb 16, 2011 5:46am Feb 16, 2011 5:46am
Quoting 5.25
Gentlemen,
I took a...
Is there something I missed?
...
u took the H4 PB?

-this PB is relatively small...
-it was at a swing low. we ideally trade bearish PA setups at swing highs. (u could argue this was at a lower swing high)
-it was at a traffic area.. or heading into one. look at daily down to your hourly chart..
-did u accept that 0.9970/80 area to be a possible FTA? were u aware of it?
-if u look at H1, there was a decent upmove, then this PB formed. in that context, u can say that this PB was a 'pause PB' (simply, a pause in a possible trend).

hope this helps
  • #89,197
  • Feb 16, 2011 5:48am Feb 16, 2011 5:48am
Quoting 5.25
Gentlemen,

I took a full PB loss on audusd....
Hi 5.25

You took h1 pb at 4:00 / 5:00 gmt time when there is not much liquidity (market is much easier to manipulate). Asian session rarely produce any substantial moves so i would be carefull with playing any pa , couple of hours before london open. On the other hand 0.9981 should be good area to cover.

I dont assume you took h4 pb becouse it was invalidated before it broke to the downside.

Pozdro
  • #89,198
  • Edited 6:00am Feb 16, 2011 5:48am | Edited 6:00am
Quoting Pinbar
That was exactly how I intended it when I presented it here.

Did I say this is how Jim does it?

I had better go back and check.


EDIT:

Pinbar wrote:
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Hey, I went back over my notes and found J16 trailing his trades with a...
PB, J16 trailing stop behind the keltner channel as per his post
http://www.forexfactory.com/showpost...2&postcount=30
Attached Image
WARNING: Don't follow me as I'm just learning
  • #89,199
  • Feb 16, 2011 6:04am Feb 16, 2011 6:04am
Mike or anyone else who has been watching this.

Did anyone execute this as a break out and curious as to which bar you entered. Here is a daily chart. I would trust you would have entered on a signal from a smaller time frame.

I'm posting it up to stimulate some discussion how to execute these.

All comments welcomed
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  • #89,200
  • Feb 16, 2011 6:40am Feb 16, 2011 6:40am
I think it's interesting how it bounced off prior support and BRN .7500 but passed the fib 61.8 and now the the 150ema is approaching for its' 1st touch back

S/R dominates....don't you think?
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