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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

  • #100,421
  • Aug 15, 2011 2:43pm Aug 15, 2011 2:43pm
Quoting Chelski
Mike,

As all the CHF Pin bars seemed to gap open way above 60+ in the case of the EUR no trade would get filled at +25-30. Given the pin bar is playing out would some form of continuation be looked for?
For example closing and holding at an FTA?

Hey Chelski

I put my buy order above the initial move higher at 5pm est. If you were someone playing the bar cautiously we certainly hit our FTA on most of the chf pairs. I am in buy and hold mode with this one till i get more information myself

Best
Mike
  • #100,422
  • Aug 15, 2011 2:58pm Aug 15, 2011 2:58pm
Quoting Greenhaze
There is a gap only on brokers with 22:00 BST sunday open. On Oanda all trade have been executed.
Thanks,

I use IG index, there chart shows a gap open but the low shows 11077 on EURCHF Deal Ticket, why is there a gap if they are showing a low of Fridays close?
  • #100,423
  • Aug 15, 2011 3:01pm Aug 15, 2011 3:01pm
Quoting Chelski
Thanks,

I use IG index, there chart shows a gap open but the low shows 11077 on EURCHF Deal Ticket, why is there a gap if they are showing a low of Fridays close?
hey C

Your broker might close but the forex markets are technically never closed. So your broker is showing orders based off when they open and close. This is the "gap" we often speak of which is in turn really a broker close/open time as opposed to the FX market open and close time(which there is non since it is not centralized)

Best
Mike
  • #100,424
  • Aug 15, 2011 3:01pm Aug 15, 2011 3:01pm
Quoting mbqb11
Hey Chelski

I put my buy order above the initial move higher at 5pm est. If you were someone playing the bar cautiously we certainly hit our FTA on most of the chf pairs. I am in buy and hold mode with this one till i get more information myself

Best
Mike
I was looking to come in +25-30 on Friday close and target 1.129 FTA but it was 10pm Here and when I got on line it was off and running so didn't want to chase.
There is always next time!
  • #100,425
  • Aug 15, 2011 3:03pm Aug 15, 2011 3:03pm
Quoting Chelski
I was looking to come in +25-30 on Friday close and target 1.129 FTA but it was 10pm Here and when I got on line it was off and running so didn't want to chase.
There is always next time!
Hero calls followed by margin calls...
  • #100,426
  • Aug 15, 2011 4:00pm Aug 15, 2011 4:00pm
Quoting AQs
Many thanks...
Moved my stop loss to BE now... just to understand... I managed to be in a free trade now, but the price is approching a support level, and that's why it could be stop moving... that's why you would move stop loss to BE and take a small profit?
Suppose there wasn't any support withing 1000 pips, would you move stop loss to BE and take only a few pips profits?

Again ty and sorry for my noobness
Moving to be is probably the worst thing you can do, if you want my opinion.
  • #100,427
  • Aug 15, 2011 4:15pm Aug 15, 2011 4:15pm
Quoting Greenhaze
There is a gap only on brokers with 22:00 BST sunday open. On Oanda all trade have been executed.
I can see that the low on the IG price ticket is Friday close (ish)
Are you saying unlike Indices / Equity while charts can GAP price can't on FX?
  • #100,428
  • Edited 4:43pm Aug 15, 2011 4:41pm | Edited 4:43pm
Hey Mike,

Care to share your thoughts on this one? Been awhile since I took a J16 trade. Expected a fairly quick move to near the fusia line. Of course it hasn't happened yet. I know the pin was less than perfect, but it was followed by a DHLC, which says down to me. Its the stop placement that I am most curious about.

Opps! forgot the line. It should be at the bar highs @ 1.4400

Thanks in advance
That other Mike. lol
Attached Image (click to enlarge)
Click to Enlarge Name: EU1hour.jpg Size: 260 KB
  • #100,429
  • Aug 15, 2011 4:45pm Aug 15, 2011 4:45pm
Quoting tubguy
Hey Mike,

Care to share your thoughts on this one? Been awhile since I took a J16 trade. Expected a fairly quick move to near the fusia line. Of course it hasn't happened yet. I know the pin was less than perfect, but it was followed by a DHLC, which says down to me. Its the stop placement that I am most curious about.

Opps! forgot the line. It should be at the bar highs @ 1.4400

Thanks in advance
That other Mike. lol
Hey Mike

If you notice this bar is actually not even a pinbar since it didn't close within the previous bar. Coming off the strong bullish day this bar is pretty small so it would have me cautious trying to short with just a small almost pin. Also for a DBHLC remember we need the close to be lower then the previous bars low.

Essentially to me I just see price stalling in this instance rather then screaming one way or the other(especially on a one hr)

Let me know if that helps
Mike
  • #100,430
  • Aug 15, 2011 4:54pm Aug 15, 2011 4:54pm
Quoting mbqb11
Hey Mike

If you notice this bar is actually not even a pinbar since it didn't close within the previous bar. Coming off the strong bullish day this bar is pretty small so it would have me cautious trying to short with just a small almost pin. Also for a DBHLC remember we need the close to be lower then the previous bars low.

Essentially to me I just see price stalling in this instance rather then screaming one way or the other(especially on a one hr)

Let me know if that helps
Mike
Exactly what I was looking for as always. I did put an arrow over the lower close bar that I was referring to Just to make sure I am not seeing something I want to see. That is a DHLC right?
Attached Image
  • #100,431
  • Aug 15, 2011 4:55pm Aug 15, 2011 4:55pm
Quoting tubguy
Exactly what I was looking for as always. I did put an arrow over the lower close bar that I was referring to Just to make sure I am not seeing something I want to see. That is a DHLC right?
Hey Mike

It looks like it may have closed below that previous bar low so yes you are correct about that.

Best
Mike
  • #100,432
  • Aug 15, 2011 4:57pm Aug 15, 2011 4:57pm
Quoting mbqb11
Hey Mike

If you notice this bar is actually not even a pinbar since it didn't close within the previous bar. Coming off the strong bullish day this bar is pretty small so it would have me cautious trying to short with just a small almost pin. Also for a DBHLC remember we need the close to be lower then the previous bars low.

Essentially to me I just see price stalling in this instance rather then screaming one way or the other(especially on a one hr)

Let me know if that helps
Mike

Went to look at the chart and got sidetracked looking at some other charts too. Came back and was preping to put up my reply and thought, "hmmm... lets refresh and see if Mike has replied yet." As usual he is lightening quick

Responses from Mike are gold. I was going to say something similar. Mainly noticing the nonoptimal close and the run up.

Ryan

Quoting tubguy
Hey Mike,

Care to share your thoughts on this one? Been awhile since I took a J16 trade. Expected a fairly quick move to near the fusia line. Of course it hasn't happened yet. I know the pin was less than perfect, but it was followed by a DHLC, which says down to me. Its the stop placement that I am most curious about.

Opps! forgot the line. It should be at the bar highs @ 1.4400

Thanks in advance
That other Mike. lol
edit
Just wanted to say that something. If this trade fit all of your requirements then you were correct in trading it. That having been said something that I would like to add is that (another edit to alter my language- "IF I were to trade the lower TF, which I do not trade the 1 hr") I would be MUCH pickier on with lower TF with needing a solid S/R area. This is close enough that I would have wanted to see something off of the 1.45 BRN before I would have touched it. I don't see a story as to why price reacted as it did at that point and that is something that is quite important to me. Will be interesting to see where it goes from here. I honestly do not know, but if it does hit 1.45 pay attention to how it may react differently than it did this time.
  • #100,433
  • Aug 15, 2011 5:00pm Aug 15, 2011 5:00pm
Quoting mbqb11
Hey Mike

It looks like it may have closed below that previous bar low so yes you are correct about that.

Best
Mike

Thanks Mike, that gives me a bit more insight on how I might play it.
  • #100,434
  • Aug 15, 2011 5:11pm Aug 15, 2011 5:11pm
can somebody help me, is there any way to get all my charts that i have with all current settings etc saved to a file so i can put it all on my laptop and have the charts looking the same as my desktop pc
  • #100,435
  • Aug 15, 2011 5:15pm Aug 15, 2011 5:15pm
Here's another one from the equity market
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-08-15-TOS_CHARTS.png Size: 80 KB
  • #100,436
  • Aug 15, 2011 5:15pm Aug 15, 2011 5:15pm
Quoting deankenny21
can somebody help me, is there any way to get all my charts that i have with all current settings etc saved to a file so i can put it all on my laptop and have the charts looking the same as my desktop pc
What OS are you currently using?

On a normal OS (read not stupid windows 7 under their hyper security mode) the tree to get your info would read something like this:

C: -> Program Files -> (the broker you are using) - Meta Traders-> profiles -> the profile that your charts are saved to

One thing to be aware of is to ensure that all indicators that you use are installed on both platforms or the charts may display improperly.

Ryan
  • #100,437
  • Aug 15, 2011 5:19pm Aug 15, 2011 5:19pm
Quoting gungriffin
What OS are you currently using?
Windows 7 on both machines
  • #100,438
  • Aug 15, 2011 5:23pm Aug 15, 2011 5:23pm
Quoting deankenny21
Windows 7 on both machines
I am going to give you both solutions that you may encounter on 7. Give me a moment I need to go to the PF to find the post from about 2 weeks ago when I needed the same info.

Ryan

Here is the alt possibility depending on how you have your security settings:

Quoting wizardblue
What OS are you running? if its Vista or Win7 it wont have enough security by default and so clones your install folder. There is another thread with this issue in it. Your profiles and templates will be within your MT install within this folder.
C:\Users\{username}\AppData\Local\VirtualStore\Program Files (x86)\....MT4...

Wiz
Quoting jon69
Hi Simon.
I think you will find that the program is using a virtual folder in the path
User/AppData/Local/VirtualStore/ProgramFiles(x86)
These folders are probably hidden by default on the computer.
Try searching google "disable UAC in win 7". From memory that is how I got round the problem.
Jon.
how to unhide folders in 7:
http://windows.microsoft.com/en-US/w...w-hidden-files

Ryan
  • #100,439
  • Aug 15, 2011 5:57pm Aug 15, 2011 5:57pm
Quoting mbqb11
Hey Mike

It looks like it may have closed below that previous bar low so yes you are correct about that.

Best
Mike

Hi Mike,

I thought DBHLC needs to be the highest two bars in that particular swing high area. However, I can see that the pseudo-pin is higher than these two bars. So, would these two bars really be considered DBHLC? Thanks in advance.
  • #100,440
  • Aug 15, 2011 6:30pm Aug 15, 2011 6:30pm
Quoting Frxter
Hi Mike,

I thought DBHLC needs to be the highest two bars in that particular swing high area. However, I can see that the pseudo-pin is higher than these two bars. So, would these two bars really be considered DBHLC? Thanks in advance.
Hey FRX

You are right in the most traditional sense. We want these two at the swing high sticking out. That doesn't mean we can't trade them at other points. I was more commenting on the actual bar setup itself(being valid or not) rather then a good area for them. I am with you in that I like to see them being the focus point of the swing too.

Thanks
Mike
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