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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

  • #92,341
  • Mar 28, 2011 5:23am Mar 28, 2011 5:23am
Quoting Adilius07
Yes, as a newbie myself I enter on break only.
This is FxPro.

BEOB at swing high, engulfing 3 bars, closing below 2.
Room to move to FTA. With Div at RN.
May I add that this BEOB occured at a 61.8 Fib retracement
  • #92,342
  • Mar 28, 2011 5:24am Mar 28, 2011 5:24am
and 38,2 also....so dubble retacement!
  • #92,343
  • Mar 28, 2011 5:29am Mar 28, 2011 5:29am
Quoting Panthera
Oh, well myone is with alpari and just closed now (19 minute ago)
How may pips do you wait after the break?
Or do you put just straight away under it with 1pip your order?
And did you see the 150Ma how cool it helped?
I do not usually chek it but now it is beautifull on my chart if I use it....
Buffer is usually 3 pips for H4, 5 pips for Daily, and 10 pips for Weekly. So my entry was 3 pips below that Beob.
No, I don't use any MA's, only MACD for Div.
  • #92,344
  • Mar 28, 2011 5:31am Mar 28, 2011 5:31am
Quoting ts63
May I add that this BEOB occured at a 61.8 Fib retracement
cool but I don't watch Fibo's neither. Because if you plot them other way around that BEOB is probably on the 23-38% ret from the previous move up...
  • #92,345
  • Mar 28, 2011 5:33am Mar 28, 2011 5:33am
I like this one too....wait for comments!
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  • #92,346
  • Mar 28, 2011 5:34am Mar 28, 2011 5:34am
very swing high
div on H1
and nice pin (I think)
good place to run
  • #92,347
  • Mar 28, 2011 5:36am Mar 28, 2011 5:36am
I see Adilius, I usded 10 pips everywhere but I had a feeling it is too much on H4....thanx
Mónika
  • #92,348
  • Mar 28, 2011 6:06am Mar 28, 2011 6:06am
Quoting Adilius07
And Gold is now showing a BEOB at 2 top with Div. FTA is close, so very tight trade management would be needed...
http://www.forexfactory.com/attachme...1&d=1300998537
Gold is moving nicely from that 2 top.
Unfortunately I canceled my order as I began to experience some doubts bacause the BEOB could not close below the previous bar low....
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  • #92,349
  • Mar 28, 2011 6:26am Mar 28, 2011 6:26am
Gold still is making HHs and this area might be good to look for bullish pa. First test of confluenced breakout zone & 1400 just below it.
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  • #92,350
  • Mar 28, 2011 6:40am Mar 28, 2011 6:40am
Quoting fxgroup
Just mine.
If the day closes as now,it is time to close.
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Nothing personal,just business
  • #92,351
  • Mar 28, 2011 6:43am Mar 28, 2011 6:43am
Quoting fxgroup
If the day closes as now,it is time to close.
and reverse to short?
  • #92,352
  • Mar 28, 2011 6:55am Mar 28, 2011 6:55am
Quoting fxgroup
If the day closes as now,it is time to close.
It may possibly be decision day, but closes are everything!
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  • #92,353
  • Mar 28, 2011 6:58am Mar 28, 2011 6:58am
Quoting Adilius07
and reverse to short?
I don't think I'd be shorting into parity
  • #92,354
  • Mar 28, 2011 7:04am Mar 28, 2011 7:04am
Quoting Adilius07
and reverse to short?
No,for more reasons:there are 3.5 days till the monthly candle closes,so I will wait,to take short I need to see the parity acting as R (very important on weekly),the pattern is a bullish one.
Nothing personal,just business
  • #92,355
  • Mar 28, 2011 8:07am Mar 28, 2011 8:07am
i see that the closing time of bar on FxPro MT4 feed is changed..its closes 1 hour before the actual closing time it had till now..
over here one of H4 bar gets over at 7.30pm,but now its 6.30pm and same goes for other H4 bars
  • #92,356
  • Mar 28, 2011 8:15am Mar 28, 2011 8:15am
Quoting AvanishDemo
i see that the closing time of bar on FxPro MT4 feed is changed..its closes 1 hour before the actual closing time it had till now..
over here one of H4 bar gets over at 7.30pm,but now its 6.30pm and same goes for other H4 bars
yes, we had daylight savings here in europe. that's why....
meine augen sind die sterne
  • #92,357
  • Mar 28, 2011 8:19am Mar 28, 2011 8:19am
Quoting AvanishDemo
i see that the closing time of bar on FxPro MT4 feed is changed..its closes 1 hour before the actual closing time it had till now..
over here one of H4 bar gets over at 7.30pm,but now its 6.30pm and same goes for other H4 bars
must've got something to do with DST (Daylight savings time)

[if im correct]
for instance, UK is now GMT+1 (from GMT; DST started Mar.27,2011)
in US, DST started on March 13 (from GMT - 5, now it's GMT-4)

http://www.timeanddate.com/worldclock/city.html?n=136
http://www.timeanddate.com/worldclock/city.html?n=179
  • #92,358
  • Mar 28, 2011 8:22am Mar 28, 2011 8:22am
Quoting supremeChaos
must've got something to do with DST (Daylight savings time)

[if im correct]
for instance, UK is now GMT+1 (from GMT; DST started Mar.27,2011)
in US, DST started on March 13 (from GMT - 5, now it's GMT-4)

http://www.timeanddate.com/worldclock/city.html?n=136
http://www.timeanddate.com/worldclock/city.html?n=179
You're right about DST
London is GMT, GMT+1 is Frankfurt and Paris.
  • #92,359
  • Edited 9:14am Mar 28, 2011 8:45am | Edited 9:14am
Current H4 bar on USDCHF will close in 15 minutes (might be an IB).
We have had a BEOB at a swing high and then a retracement to a former bar low at 0.9202.

At bar close, I'll place a sellstop below the current bar (with a 2 pip buffer b/c of broker spread). Let's see if this triggers or if the bullish trend goes on.

Edit : 4 hour bar didn't close as in inside bar by 2 pips.
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  • #92,360
  • Mar 28, 2011 9:02am Mar 28, 2011 9:02am
Quoting Greenhaze
Thats really interesting area. I hope someone will eat those stops and draw some nice pa.
Looks like stops had been consumed. Now we have V-shape bottom and breakout traders stops must be somewhere near . 1.5980 looks good now. PB on daily?
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