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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

  • #99,541
  • Jul 30, 2011 12:01pm Jul 30, 2011 12:01pm
I'm liking the nice bearish pin, prior resistence, BRN.
Please experienced traders........am I on the right track? Thanks.
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  • #99,542
  • Jul 30, 2011 12:05pm Jul 30, 2011 12:05pm
Quoting AndreasF
Hi aserbfx

Thanks a lot for posting your charts.
You mentioned that you screen several thousand charts per week.

What broker do you use who offers so many charts?

Thanks
Andreas
i use the following for charting:

prorealtime, freestockcharts, gci broker, fxpro
meine augen sind die sterne
  • #99,543
  • Jul 30, 2011 12:10pm Jul 30, 2011 12:10pm
That helped a lot!

Thanks!
Andreas


Quoting aserbfx
i use the following for charting:

prorealtime, freestockcharts, gci broker, fxpro
  • #99,544
  • Jul 30, 2011 12:18pm Jul 30, 2011 12:18pm
Quoting Bryan
I'm liking the nice bearish pin, prior resistence, BRN.
Please experienced traders........am I on the right track? Thanks.
I would be very careful with this one if its the last bar of the week. There is usually very low volume at that time of the day and imho signals should be taken with a grain of salt.
  • #99,545
  • Jul 30, 2011 12:25pm Jul 30, 2011 12:25pm
On my radar.
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Nothing personal,just business
  • #99,546
  • Jul 30, 2011 12:32pm Jul 30, 2011 12:32pm
This is my first post.. hope this is in the correct location.

I've been using the James16 custom indicator on MT4 to learn his PA setups. I have a question for anyone more proficient in MT4 coding than myself.

Instead of putting an arrow above the candlestick, I want to change the entire color of the candlestick once a signal appears.

For example, if a DBHLC comes up and I'm using black/white standard candles, I would love to see the DBHLC change its' color to red.

I know this can be done and probably very easily.

Can anyone help me out or point me in the correct direction?
  • #99,547
  • Jul 30, 2011 1:19pm Jul 30, 2011 1:19pm
Quoting Bryan
I'm liking the nice bearish pin, prior resistence, BRN.
Please experienced traders........am I on the right track? Thanks.
I'm still pretty new at this but I would be concerned about the previous swing high being a new support level. Perhaps if you get a close below that as confirmation.
  • #99,548
  • Jul 30, 2011 1:51pm Jul 30, 2011 1:51pm
  •  Atom
  • | Joined Jul 2010 | Status: An atom..no more..probably less! | 44 Posts
Quoting Bryan
I'm liking the nice bearish pin, prior resistence, BRN.
Please experienced traders........am I on the right track? Thanks.
Bryan, I am definetely not an experienced trader. However, I would like to give MHO in order to learn.

What goes for the short trade are two things: BRN (1.0500) and the Daily resistance level (1.0550 area). However, Checking the daily TF would show a BUOB off the 1.0400 level which was resistance and now acts as support, and the trend in general is up. The size of the PB is not so attractive in comparison to the previous two bars, and there is an immediate H4 support level @ 1.0480. So all in all, plus the 11 pips spread, I would prefer not to short the H4 PB. Instead, I would wait for a bullish H1 PA @ 1.0450 area.

If going aggressive, I think shorting it for 20-30 quick pips might do it depending on the M30 PB (big size), of course after the break of the PB.

Just MHO
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  • #99,549
  • Jul 30, 2011 5:13pm Jul 30, 2011 5:13pm
Euro shows a Bullish Outside Bar, I know its within congestion, but the move is probably still good for a few points.

the Risk Reward for the Trade is bad though, reward is only 0.5 risk.

Tutorial on Hidden Divergence
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  • #99,550
  • Jul 30, 2011 5:40pm Jul 30, 2011 5:40pm
Quoting halfstep
Euro shows a Bullish Outside Bar, I know its within congestion, but the move is probably still good for a few points.

the Risk Reward for the Trade is bad though, reward is only 0.5 risk.

Tutorial on Hidden Divergence
Yes, but on the EURO H1 it is at a resistance level.

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The wise man would keep his dogs on a leash until a boat is found in the river.
  • #99,551
  • Jul 30, 2011 6:55pm Jul 30, 2011 6:55pm
usd/cad. double bottom with divergence and 2-week pinbar? Hmm

http://cdn.hotstockmarket.com/e/e1/1...fcf4_12121.gif
  • #99,552
  • Jul 30, 2011 7:04pm Jul 30, 2011 7:04pm
Quoting biDc
usd/cad. double bottom with divergence and 2-week pinbar? Hmm

http://cdn.hotstockmarket.com/e/e1/1...fcf4_12121.gif
I'm watching this too. Check out the fib on the Daily.

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  • #99,553
  • Jul 30, 2011 8:31pm Jul 30, 2011 8:31pm
Quoting Bryan
I'm liking the nice bearish pin, prior resistence, BRN.
Please experienced traders........am I on the right track? Thanks.
I agree with others...late day - could be profit taking by long positions. Close of PB looks weak to me. Size of bar relatively small compared to size of some of the bullish bars on the way up.
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  • #99,554
  • Edited 5:46am Jul 31, 2011 12:16am | Edited 5:46am
Quoting Bryan
I'm liking the nice bearish pin, prior resistence, BRN.
Please experienced traders........am I on the right track? Thanks.
It lacks of confluence.....you must have at least two elements except the PA in my opinion.
Patience is essential
  • #99,555
  • Jul 31, 2011 1:06am Jul 31, 2011 1:06am
A Mike's classic !
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Nothing personal,just business
  • #99,556
  • Jul 31, 2011 9:28am Jul 31, 2011 9:28am
AUD/NZD has a weekly 2 bar low that closed below 1.2500.

Bit of H&Sish type stuff going on as well
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Anything can happen.
  • #99,557
  • Jul 31, 2011 9:43am Jul 31, 2011 9:43am
  •  Atom
  • | Joined Jul 2010 | Status: An atom..no more..probably less! | 44 Posts
Quoting Atom
I think it is good. Almost a THLC on daily (3 pips difference on the High). However, I do not have any bearish PA on H4. Perfect scenario would be if it breaks the almost THLC to 125.90 and retraces back to 126.40 area. If that happens, I think I will short it even without a PA. My target will be 125.50 with SL 127.50
Just a correction: I meant retracement back to 126.70 area not 126.40
  • #99,558
  • Jul 31, 2011 9:49am Jul 31, 2011 9:49am
  •  Atom
  • | Joined Jul 2010 | Status: An atom..no more..probably less! | 44 Posts
This is to James and mike mainly,
I ended this month with 19% gain! This is my first profitable month, thanks to you guys and all the participants in this thread.
I would like to add that I trade with 1:15 leverage which I even do not use fully. However, I feel that still I have problem with "revenge" trading. It is getting much better...but still needs to be worked on.

Thanks again
  • #99,559
  • Jul 31, 2011 9:50am Jul 31, 2011 9:50am
EUR/GBP is opn the watchlist for this week for a bounce off or PBT&CB 0.8700
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Anything can happen.
  • #99,560
  • Jul 31, 2011 9:55am Jul 31, 2011 9:55am
84.00 has proven to be a good PPZ in the past and now it's lined up with a 61.8 Fibo
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Anything can happen.
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