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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

  • #101,581
  • Sep 13, 2011 10:50am Sep 13, 2011 10:50am
Quoting Kalbar
Thanks for that Ify will check it all out - seems very promising approach with many high prob low risk entries.

Thanks

Kal
No worries Kal

But I do feel that every TF from Daily needs to be mastered and demo'ed before moving down TFs.

It's a serious and dangerous business, and must be mastered as inexpensively as possible
  • #101,582
  • Sep 13, 2011 11:39am Sep 13, 2011 11:39am
Hi guys,

After NY close the spread increases. Sometimes it might result in false break of PBs, outside bars. So at what time you guys place a order? If we place order into Asian session, then we might miss some trades. But if we place orders in Asian session, we can definitely avoid false breaks. How you guys handle this issue?

Thanks,
Vinay
  • #101,583
  • Sep 13, 2011 12:40pm Sep 13, 2011 12:40pm
Quoting vinayn
Hi guys,

After NY close the spread increases. Sometimes it might result in false break of PBs, outside bars. So at what time you guys place a order? If we place order into Asian session, then we might miss some trades. But if we place orders in Asian session, we can definitely avoid false breaks. How you guys handle this issue?

Thanks,
Vinay
Hey Vinay

For me any decent buffer above below a bar(pin outside etc) will keep you out of your basic post main market spread widening. As the spreads don't get that nuts on most decent brokers. The problem usually occurs for those that put their orders right on the exact break of their bar, then a spread can easily nick you in. But I place my orders at 5pm est and don't worry much about spread widening 98% of the time

Best
Mike
  • #101,584
  • Sep 13, 2011 12:43pm Sep 13, 2011 12:43pm
Quoting Pinbar
The interesting thing about this bounce is, there is a Daily BEOB, an H4 BEOB & an H1 BEOB. Even in the face of all those positive factors, Jarroo's methodology showed us the very real possibility that it could break bullish, in the other direction.

Good for you Jarroooooooooooooooooooooooooo
Well thank goodness the toughest was yet to come Unlike EURGBP this one is doing quite well for me.

Ryan
  • #101,585
  • Edited 2:07pm Sep 13, 2011 12:48pm | Edited 2:07pm
Quoting Pinbar
You have got to be joking.

That is what S&R is all about, who cares who the people behind the bars are, there is no way of knowing anyway.

Wish that I understood your frame of mind when posting this a little better. The funny thing is you are bashing the very thing that you say is so great in the previous sentence. S/R is just one way of understanding order supply that is coming into the market.....

Ryan
  • #101,586
  • Sep 13, 2011 2:23pm Sep 13, 2011 2:23pm
Might be a late to get into this one although buying EUR yesterday didn't seem like a very good idea to me. Missed the BUOB but price has now crossed the weekly PPZ at 8650 and looks to be doing a PBT&CA on the 1H. Nice divergence and space up to 8735ish
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Anything can happen.
  • #101,587
  • Sep 13, 2011 2:33pm Sep 13, 2011 2:33pm
GbpCad is aproaching its weekly support. As clear as it gets.
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  • #101,588
  • Sep 13, 2011 2:54pm Sep 13, 2011 2:54pm
Quoting ddinnov
Might be a late to get into this one although buying EUR yesterday didn't seem like a very good idea to me. Missed the BUOB but price has now crossed the weekly PPZ at 8650 and looks to be doing a PBT&CA on the 1H. Nice divergence and space up to 8735ish
I was actually short on this one yesterday off of a 4hr pb. Just got nicked in and by the time the daily bar formed I was almost at my stop so I decided to let it run its course and see if it was going to reverse. As you can see it didn't

I would be up for going long, but I think I would look for a break above and pullback though. On my chart it is not all the way through the weekly PPZ and I would just need more confirmation. That is one hell of a mess to trade back into.

Ryan

*Edit* ha ha I know it is a small thing, but I really like the gold color that you selected for your MACD.... Going to have to change my charts and do a little Feng Shui Dinnov style

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  • #101,589
  • Sep 13, 2011 2:58pm Sep 13, 2011 2:58pm
Quoting Greenhaze
GbpCad is aproaching its weekly support. As clear as it gets.
Looks to be an interesting area. Guess we will see what becomes of it. GH do you prefer Jarroo material or are you primarily classic J16?

Ryan
  • #101,590
  • Sep 13, 2011 3:46pm Sep 13, 2011 3:46pm
Quoting gungriffin
I was actually short on this one yesterday off of a 4hr pb. Just got nicked in and by the time the daily bar formed I was almost at my stop so I decided to let it run its course and see if it was going to reverse. As you can see it didn't

I would be up for going long, but I think I would look for a break above and pullback though. On my chart it is not all the way through the weekly PPZ and I would just need more confirmation. That is one hell of a mess to trade back into.

Ryan

*Edit* ha ha I know it is a small thing, but I really like...
Yeah it has still yet to form a PBT&CA on the higher TFs, worth a watch though.

Feng shui is great - must do some in my office!
Anything can happen.
  • #101,591
  • Sep 13, 2011 3:47pm Sep 13, 2011 3:47pm
Quoting Greenhaze
GbpCad is aproaching its weekly support. As clear as it gets.
Look slike a good level, I saw it as well. Only cocern is today's and yesterday's bearish candle. That is one heck of a move..
Anything can happen.
  • #101,592
  • Sep 13, 2011 4:12pm Sep 13, 2011 4:12pm
Quoting Greenhaze
GbpCad is aproaching its weekly support. As clear as it gets.
Same, same, but different.
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  • #101,593
  • Sep 13, 2011 4:14pm Sep 13, 2011 4:14pm
it hits it 1st target 1.33...
took my 3/4th of profit n reduce SL sch that i dnt face loss...
better to stay safe/away from Euro pair as rumors are high & alarming on Greece default...
i dont follow fundamentals but this is too strong rumor/news to be neglected no?

order on ibfx feed..
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  • #101,594
  • Sep 13, 2011 4:50pm Sep 13, 2011 4:50pm
Quoting vinayn
Hi guys,

After NY close the spread increases. Sometimes it might result in false break of PBs, outside bars. So at what time you guys place a order? If we place order into Asian session, then we might miss some trades. But if we place orders in Asian session, we can definitely avoid false breaks. How you guys handle this issue?

Thanks,
Vinay
what I do - trade only M1 and M5 in those 2h after NY(if I don't go to sleep).

Marvelous time for scalping; with some luck, you can fish a stop hunt when they do it. Crap time for trading.


Quoting AvanishDemo
it hits it 1st target 1.33...
took my 3/4th of profit n reduce SL sch that i dnt face loss...
better to stay safe/away from Euro pair as rumors are high & alarming on Greece default...
i dont follow fundamentals but this is too strong rumor/news to be neglected no?

order on ibfx feed..
as the sun rises in the East... Greece will default. As the market is always stupid, e/a actually has a good chance of going up in the beginning in such a case.

That being said, when they all sell, one should buy(the feeling is always unpleasant, but the profit makes up for it). E/u went 1k pips down on rumors. It'll partially get back up on rumors(I wouldn't say quite the same for e/a). They still didn't price in that default and they still hope; so when it'll happen, it'll be messy. And no matter how much time it'll pass, market still won't be ready for the default. But you can't stop trading because something will happen sometime. At worst, you'll get a crappy execution of your sl and you'll lose 100 pips - bad, unpleasant, but not ground breaking(I had 100 pips slippage on eur/chf at peg announcement - can't be worse then that). It'll happen once and it'll pass - would be the same if you'd be on the wrong end of an intervention.

personally I just take smaller positions and try to ride them longer(thing I normally hate) instead of keeping them tighter with same size. The market is quite volatile so keeping tight can easily blow you out nowdays.

Otherwise, no clue about e/a - it's the problem currency vs. the favourite loser in troubled times - no clue if you're in trend on countertrend... Logic would say you're countertrend, but markets never work on logic.
  • #101,595
  • Sep 13, 2011 5:14pm Sep 13, 2011 5:14pm
Anyone else thinking former support will hold up as resistance?
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  • #101,596
  • Edited 6:18pm Sep 13, 2011 5:26pm | Edited 6:18pm
Well, the daily beob did in fact work out.

Next stop the 150.

Ooops. on H4 that was.
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  • #101,597
  • Sep 13, 2011 5:28pm Sep 13, 2011 5:28pm
Quoting gungriffin
Wish that I understood your frame of mind when posting this a little better. The funny thing is you are bashing the very thing that you say is so great in the previous sentence. S/R is just one way of understanding order supply that is coming into the market.....

Ryan

Order supply is volume, it is not knowing the people behind the bars.

At least in my mind.
  • #101,598
  • Sep 13, 2011 5:31pm Sep 13, 2011 5:31pm
Quoting 5.25
Anyone else thinking former support will hold up as resistance?
Not Sure that it will "Hold Up" as Resistance but everyone who IS Thinking, should expect it to "Act" as Resistance.



B
  • #101,599
  • Sep 13, 2011 5:55pm Sep 13, 2011 5:55pm
Quoting Bemac
Not Sure that it will "Hold Up" as Resistance but everyone who IS Thinking, should expect it to "Act" as Resistance.



B
Always a pleasure reading in between the lines B
  • #101,600
  • Sep 13, 2011 6:30pm Sep 13, 2011 6:30pm
Interesting area on GBP/CAD
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