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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

  • #102,481
  • Sep 30, 2011 1:26pm Sep 30, 2011 1:26pm
Quoting stark1
Hi Jason

Many thanks indeed for the response. Yes, the charts were created at different times, but I wouldn't expect that to make the EMAs move. I mean, once it's printed it should stay there. History can't, or at least shouldn't, change. And on the weeklies this is data that goes back a very long time. Your thoughts?
Hey Stark

It isn't that the EMA is moving as Jason was saying(thanks for hoping in Jason). It's that the EMA which is calculated based on the data that your broker has. So your EMA is based on the closing times of your brokers data. Since forex is an OTC non centralized market brokers can show different start/closing times which can change the look of EMAs from broker to broker. So your EMA is correct(since its a mathematical formula) based on your broker closing time. Jarroo is based on his. On weekly charts the close times will be very close so they won't be shifted too much. But if you check out for example a 4hr chart from two different closing time brokers you could see a much large discrepancy. A timeframe like the one hour will always be the same because the start and close time of the one hour candle is universal. Same for a 5min, or 15, 30

Hope that helps
Mike
  • #102,482
  • Sep 30, 2011 1:34pm Sep 30, 2011 1:34pm
Quoting mbqb11
Hey Stark

It isn't that the EMA is moving as Jason was saying(thanks for hoping in Jason). It's that the EMA which is calculated based on the data that your broker has. So your EMA is based on the closing times of your brokers data. Since forex is an OTC non centralized market brokers can show different start/closing times which can change the look of EMAs from broker to broker. So your EMA is correct(since its a mathematical formula) based on your broker closing time. Jarroo is based on his. On weekly charts the close times will be very close...
Ah, Mike, I was really hoping you'd come in on this, so thanks. What you're saying is what I was thinking, so I'm trying to find out why my weeklies so out of whack with Jim's if the closes are the same/similar?
When the going gets weird, the weird turn pro.
  • #102,483
  • Sep 30, 2011 1:41pm Sep 30, 2011 1:41pm
Quoting stark1
Ah, Mike, I was really hoping you'd come in on this, so thanks. What you're saying is what I was thinking, so I'm trying to find out why my weeklies so out of whack with Jim's if the closes are the same/similar?
I would guess here, that your data feed is only going back so far so the calculation from past 365 days ago for example is starting to get more out of whack without that data. Your closes are close but not the same.

so 365 on a weekly you need a lot of historical data to keep it on track and accurate. So make sure you are allow your historical data to go back as far as possible, otherwise it's going to calculate it based on the history you are allowing which might not be enough for a longer term EMA like the 365(which needs a lot of bars) where as the lower the EMA the less bars and the more likely to be the same(why the 150 is closer then the 365 b/w both charts)

That's my guess
Mike
  • #102,484
  • Sep 30, 2011 1:57pm Sep 30, 2011 1:57pm
Quoting mbqb11
I would guess here, that your data feed is only going back so far so the calculation from past 365 days ago for example is starting to get more out of whack without that data. Your closes are close but not the same.

so 365 on a weekly you need a lot of historical data to keep it on track and accurate. So make sure you are allow your historical data to go back as far as possible, otherwise it's going to calculate it based on the history you are allowing which might not be enough for a longer term EMA like the 365(which needs a lot of bars) where...
Best guess I've heard so far! Thanks Mike, as always. I'll have a mess around and see what I get. Have a good weekend, man.

Jason, any thoughts there? Maybe PM me if you'd be so kind - kind of off-topic for this forum.
When the going gets weird, the weird turn pro.
  • #102,485
  • Sep 30, 2011 2:08pm Sep 30, 2011 2:08pm
Quoting mbqb11
I would guess here, that your data feed is only going back so far so the calculation from past 365 days ago for example is starting to get more out of whack without that data. Your closes are close but not the same.

so 365 on a weekly you need a lot of historical data to keep it on track and accurate. So make sure you are allow your historical data to go back as far as possible, otherwise it's going to calculate it based on the history you are allowing which might not be enough for a longer term EMA like the 365(which needs a lot of bars) where...
just about to second that. for weekly charts the closing price is rather irrelevant. sure it is the historical data which is important. check "tools - options - charts" in mt4 for the bars in history.
meine augen sind die sterne
  • #102,486
  • Sep 30, 2011 2:37pm Sep 30, 2011 2:37pm
aud/nzd retraced before coming into resistance. sign of weakness.
pinbar on daily. i am already short since 1.2745 and this is good.
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meine augen sind die sterne
  • #102,487
  • Sep 30, 2011 3:52pm Sep 30, 2011 3:52pm
I must say it

Let's go yankees

ok ok and the rangers for James
  • #102,488
  • Sep 30, 2011 5:18pm Sep 30, 2011 5:18pm
Quoting stark1
... I'm trying to find out why my weeklies so out of whack with Jim's if the closes are the same/similar?
apart from what's been said already...
-the data feed of each broker may vary
-be sure that u are comparing a 150ema to a 150ema on another chart. what i mean is that it's possible that u are comparing 2 charts with EMAs of different values(do verify if the values are the same; if i remember correctly, jarroo's black MA is not a 'typical' MA)
-comparing a live chart vs a demo chart can present differences too (verify if the other chart is demo or live)
-it would be better/easier to compare an MT4 chart with another MT4 chart (i believe u were using FXCM's TS chart)
  • #102,489
  • Edited 11:12pm Sep 30, 2011 9:31pm | Edited 11:12pm
Possibly, a faint 5 watt light bulb is starting to glow concerning Jarroo's methodology.

I think the main point I was missing was the Major SH-SL and minor SH-SL


Let's see if Jarroo can tweak me in the right direction a bit more.

In the meantime, I am hammering it out.
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  • #102,490
  • Sep 30, 2011 9:33pm Sep 30, 2011 9:33pm
Perhaps.
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  • #102,491
  • Edited 10:43pm Sep 30, 2011 10:31pm | Edited 10:43pm
Here is an interesting one.

Want to make sure I am not curve fitting this by looking at the right hand side of the screen.

I think using the Trade simulator will work out whether I am subconsciously curve fitting or not.
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  • #102,492
  • Sep 30, 2011 11:08pm Sep 30, 2011 11:08pm
This H4 DBHLC has me in total Awe.
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  • #102,493
  • Edited 11:49pm Sep 30, 2011 11:18pm | Edited 11:49pm
Ok, my last post about this till Jarroo either tells me I am way off the mark or at least have my feet pointing in the right direction.
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  • #102,494
  • Oct 1, 2011 12:11am Oct 1, 2011 12:11am
Ok, I am getting carried away but, I could not resist posting this Great H4 setup ON AUD USD, showing a logical place for the bounce.

The last post, Honest.
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  • #102,495
  • Oct 1, 2011 12:33am Oct 1, 2011 12:33am
Quoting aserbfx
just about to second that. for weekly charts the closing price is rather irrelevant. sure it is the historical data which is important. check "tools - options - charts" in mt4 for the bars in history.
yeah after I read my first response and then his question again, I figured it was probably this

Best
Mike
  • #102,496
  • Oct 1, 2011 4:39am Oct 1, 2011 4:39am
Quoting Pinbar
Ok, I am getting carried away but, I could not resist posting this Great H4 setup ON AUD USD, showing a logical place for the bounce.

The last post, Honest.
That looks like a beautiful setup.
  • #102,497
  • Oct 1, 2011 4:50am Oct 1, 2011 4:50am
http://www.pictureshoster.com/thumbn...u8tp_thumb.gif

The 0,8680-0,8650 acted as a great support for a long long time. Now the price has broken through and closed below. I'm looking for a retrace to that support level, and it lines up beutifully with the 50%-61,8% fib. So the yelowish zone (previous support) should act as resistance now.
  • #102,498
  • Oct 1, 2011 7:05am Oct 1, 2011 7:05am
Quoting mikeb
http://www.pictureshoster.com/thumbn...u8tp_thumb.gif

The 0,8680-0,8650 acted as a great support for a long long time. Now the price has broken through and closed below. I'm looking for a retrace to that support level, and it lines up beutifully with the 50%-61,8% fib. So the yelowish zone (previous support) should act as resistance now.

You know, you can upload your screenshots directly to this site when you make the post. That way, we do not have to look at Casino ads, when viewing the pics.
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  • #102,499
  • Oct 1, 2011 7:10am Oct 1, 2011 7:10am
Quoting picon1
That looks like a beautiful setup.

Yeah, it could have been better, had it also had the 365 EMA as confluence. LOL

We can't have it all.
  • #102,500
  • Oct 1, 2011 7:14am Oct 1, 2011 7:14am
Quoting Pinbar
You know, you can upload your screenshots directly to this site when you make the post. That way, we do not have to look at Casino ads, when viewing the pics.

Oh thanks, didn't see that option there. Will do.
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