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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

  • #89,421
  • Feb 18, 2011 6:44am Feb 18, 2011 6:44am
Quoting supremeChaos
Hello Sir Tomek,
-trading activity (liquidity) mellows down, generally, because most traders are already in 'weekend mode' (some/most Friday bars/candles form due to profit taking ahead of the weekend).
-often there are news during the weekend that can possibly alter market sentiment which can be detrimental to your trading positions (if u have any)

by the way, i mentioned 'be careful' in the context of Sir Ifmyante's chart mainly being an M15 chart. because price can be very whippy at times on lower timeframes, if one is not used to them.

hope...
Makes Perfect sense

I thought it would hold more importance other than the psychology of ending a full working week!

Yeah, I noticed the 15m chart. 1h is the lowest I'm go to, although I feel more comfortable on the 4h+. I can baby sit the higher time frames.
  • #89,422
  • Feb 18, 2011 6:45am Feb 18, 2011 6:45am
Quoting crusen
GBP NZD

Look at 4h pin

Don't have time right now to post chart.

Very obvious horizontal level can be seen on daily here.

Thoughts?????

EDIT: Seems as though it depends on your chart feed whether or not you see the 4h bullish pin.
My IB feed does not show it but my metatrader 4 certainly does
lots of bars to the left. i would be very careful.
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meine augen sind die sterne
  • #89,423
  • Feb 18, 2011 6:56am Feb 18, 2011 6:56am
EDIT: Seems as though it depends on your chart feed whether or not you see the 4h bullish pin.
My IB feed does not show it but my metatrader 4 certainly does[/quote]


Hi all & keep up the good work, amazing stuff really.

I use Metatrader 4 but dont have this pair, I.e GBPNZ. Any thoughts as to how I can expand the pairs I have?

Thanks in advance
  • #89,424
  • Feb 18, 2011 7:00am Feb 18, 2011 7:00am
Quoting Grousman
EDIT: Seems as though it depends on your chart feed whether or not you see the 4h bullish pin.
My IB feed does not show it but my metatrader 4 certainly does

I use Metatrader 4 but dont have this pair, I.e GBPNZ. Any thoughts as to how I can expand the pairs I have?
I use FxPro MT4 Demo for charting, there are plenty of pairs to chose from as a default, and place my with orders with Oanda.
  • #89,425
  • Feb 18, 2011 7:04am Feb 18, 2011 7:04am
Quoting jarroo
Hey sr2

Have you been watching the Daily #NGH1?

Now this is a big size BEOB at a Swing High . . . nice.
Hey jarroo

Sorry for the late reply...my laptop gave up on me so did not have proper access to forums and see there have been 100s of posts which I need to catch up on

Anyway yes I did see this and it was spectacular. I really like NG...seems to be very consistent regardless of PPZ. I need to study it some more but I think it could be as simple as trading OB on this? What do you think?

Thanks
  • #89,426
  • Feb 18, 2011 7:08am Feb 18, 2011 7:08am
Ok which one of you guys just pumped up the Euro...Adi maybe?
  • #89,427
  • Feb 18, 2011 7:10am Feb 18, 2011 7:10am
Quoting Atc
Ok which one of you guys just pumped up the Euro...Adi maybe?
no.... my focus is on pushing the NZD at the moment...
  • #89,428
  • Feb 18, 2011 7:11am Feb 18, 2011 7:11am
Quoting supremeChaos
Hello Sir Tomek,
-trading activity (liquidity) mellows down, generally, because most traders are already in 'weekend mode' (some/most Friday bars/candles form due to profit taking ahead of the weekend).
-often there are news during the weekend that can possibly alter market sentiment which can be detrimental to your trading positions (if u have any)

by the way, i mentioned 'be careful' in the context of Sir Ifmyante's chart mainly being an M15 chart. because price can be very whippy at times on lower timeframes, if one is not used to them.

hope...
Ok so u mean..its better not to trade on Friday no matter even if its an A+ setup ...something like that?
thanks for telling abt Friday thing..i had dat doubt in my mind too..lol
Thanks!
  • #89,429
  • Feb 18, 2011 7:20am Feb 18, 2011 7:20am
Quoting 5.25
I use FxPro MT4 Demo for charting, there are plenty of pairs to chose from as a default, and place my with orders with Oanda.
Cool, thanks for the prompt response, will check it out now.
  • #89,430
  • Feb 18, 2011 7:24am Feb 18, 2011 7:24am
Quoting AvanishDemo
Ok so u mean..its better not to trade on Friday no matter even if its an A+ setup ...something like that?
...
it depends on your risk profile.
in general, i personally would trade an A+ setup regardless of 'when'.

Quoting Grousman
...
I use Metatrader 4 but dont have this pair, I.e GBPNZ. Any thoughts as to how I can expand the pairs I have?
...
in MT4, go to Marketwatch (press Ctrl + M). on Marketwatch, right click anywhere & click "Show all".
see if gbpnzd shows up.
  • #89,431
  • Feb 18, 2011 7:25am Feb 18, 2011 7:25am
Weekly BEOB forming on copper. May close below previous highs.

Not sure if FTA would be the open of two weeks ago (c. 4.38) or the more obvious 4.26 area
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  • #89,432
  • Feb 18, 2011 8:00am Feb 18, 2011 8:00am
Quoting Ifmyante
Weekly BEOB forming on copper. May close below previous highs.
Not sure if FTA would be...
relatively very small BEOB.
the current BEOB's close (im referring to the close in that chart) down to 4.21 can halt price downmove.
u have a strong trend there so be careful shorting via a small PA setup. this could just stall, at best. (still depends on how that BEOB closes)

just my quick view
  • #89,433
  • Feb 18, 2011 8:08am Feb 18, 2011 8:08am
Just for the record or your knowledge...last week checking my past trades i realized that 70% of my lost trades were taken on a Friday.

Os.
Trade Smart
  • #89,434
  • Feb 18, 2011 8:15am Feb 18, 2011 8:15am
Quoting DBallerz
trendline holding up.
Which one?
  • #89,435
  • Feb 18, 2011 8:18am Feb 18, 2011 8:18am
Does anyone have any suggestions on how to force myself to take profit out when FTA is hit? I'm having problems of always trying to predict the big move and holding my trades for too long. Since I'm always at the PC, I don't use TP or SL. Would appreciate some help!
  • #89,436
  • Feb 18, 2011 8:19am Feb 18, 2011 8:19am
Quoting Osman
Just for the record or your knowledge...last week checking my past trades i realized that 70% of my lost trades were taken on a Friday....
very interesting. thanks for sharing Sir
  • #89,437
  • Feb 18, 2011 8:20am Feb 18, 2011 8:20am
Quoting DBallerz
Does anyone have any suggestions on how to force myself to take profit out when FTA is hit?.... Since I'm always at the PC, I don't use TP or SL. Would appreciate some help!
reverse this habit.
there u go. problem solved


& ideally... NO, i'd highly recommend.. stop visiting eurusd thread
  • #89,438
  • Feb 18, 2011 8:35am Feb 18, 2011 8:35am
Quoting supremeChaos
reverse this habit.
there u go. problem solved


& ideally... NO, i'd highly recommend.. stop visiting eurusd thread
haha eurusd thread is for the laughs and giggles. I like the level of activity on that thread. Good insight on how other traders think and why the 95% failure rate holds true.

My reason for not having SL is because I've seen my stops get hit so often, just to turnaround later. Perhaps I should work on my entries...
  • #89,439
  • Feb 18, 2011 8:42am Feb 18, 2011 8:42am
Quoting supremeChaos
very interesting. thanks for sharing Sir
Ure welcome, my lord
Trade Smart
  • #89,440
  • Feb 18, 2011 9:26am Feb 18, 2011 9:26am
took a touch trade this morning on eur/gbp (0.8360 entry, 1/2 off at 0.8395, last 1/2 still in).
just want to show you the importance of additional confluence on touch trades.
here we got the volume as confirming signal. look at the last three down-bars before the big bullish bar. we have the down-bars but volume is decreasing. so this can only means that the professionels are not interested in lower prices.
so be careful when taking touch trades only based on s/r. look for any other confluence like fibs, price-action-bars, volume, etc.
hth
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