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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

  • #107,601
  • Feb 17, 2012 6:27pm Feb 17, 2012 6:27pm
Quoting equivestor12
Thanks for the chart 5.25. I'm still trying to understand box trading as Mike and james teach it. In your gpb/nzd trade it looks like price has clearly broken the box and I thought we would want to see price action close back inside the box or just above the support of the box, like in this recent chart James posted.
thanks
Hey equivestor, I'm not 5.25 but this is how I saw what he did.

Usually when we see Price breaking and close below a strong Support level (like the multi-bar Low in this case) we will see this level transition to Resistance.

But in this case, Price failed to act as Resistance and reverted back to its Support level status . .chart . .that's what I believe 5.25 saw. . .Also the bullish PB didn't hurt . .
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #107,602
  • Feb 17, 2012 6:49pm Feb 17, 2012 6:49pm
Quoting Alexandr51
I wanted dispel my doubts:
1)If we see a box - enter into a transaction with caution, or better not to go at all.
2)Wait for breakout box and wait for the signal PA
Do I understand? Thanks in advance for your reply
I like # 2, too.. . Alexandr.

I like to see a Close Above that box to confirm the breakout.

Now what would happen if Price fails to close above that level on the top of the Box?? . . .

Quoting jarroo
Sure thing, ht . .

That's a great level on the EurGbp . .if we get a Daily Close above that level we could be going upward . .if not, more downward movement is in the cards . .
Attached Image (click to enlarge)
Click to Enlarge Name: 12.gif Size: 30 KB
Indicators show the past. Price Action "Indicates" the future.
  • #107,603
  • Feb 17, 2012 7:55pm Feb 17, 2012 7:55pm
Quoting 5.25
Hi all,

I had a lecture on management today, totally outside of trading, but as we are in this as a business, I thought it might hold some truth to the teachings in this thread. I won't elaborate, just throw in some key points I feel are relevant.

If it is deemed inappropriate I will be happy to delete this post:

The Priorities of Management
- Coping with change and uncertainty
- Delivering performance
- Making a 'profit'

What is Management?
- Devising and implementing everything that is needed to deliver the results required
-...
Nice post.
  • #107,604
  • Feb 17, 2012 8:02pm Feb 17, 2012 8:02pm
Quoting jarroo
Hey equivestor, I'm not 5.25 but this is how I saw what he did.

Usually when we see Price breaking and close below a strong Support level (like the multi-bar Low in this case) we will see this level transition to Resistance.

But in this case, Price failed to act as Resistance and reverted back to its Support level status . .chart . .that's what I believe 5.25 saw. . .Also the bullish PB didn't hurt . .
Got it. Very simple, thanks.

Quoting jarroo
So you were stopped out at the 1st FTA on the CadJpy for profit at that 1st FTA? (please say "yes" . )

No PA, no trade . .not a bad discipline to have, equivestor . . .
Unfortunately no, my trade management may need some work. I'v been marking what I think are FTA area's since i'v been incorporating what i'm learning form this thread but I am still trading with the methodology that i'm buying a pull back and price will continue in the direction of trend. So I got my stop hit at break even on cadjpy and the same thing on cadusd this week...Now i'm in gbpusd waiting for price to hit the top of the move up to take half profit. I'm pretty sure you are going to tell me to bank some profits at the first FTA. This is just what I learned from some fibo pullback course I went through and It made allot of sense to me.
Attached Image(s) (click to enlarge)
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  • #107,605
  • Edited 11:58pm Feb 17, 2012 10:02pm | Edited 11:58pm
Hello, guys.
What are the BRNs for pairs like X/NOK, X/SEK, X/DKK... whose pips have a very small value?

Is it 5.00, 5.05, 5.10, 5.15...,

or 5.00, 5.50, 6.00, 6.50...?

I feel that the former are too close to one another, but the latter are too far apart, lol.

Edit: Would it be a good idea to go for something like: 5.00, 5.25, 5.50, 5.75, 6.00...?

Thanks in advance and have a great weekend!
  • #107,606
  • Feb 17, 2012 11:18pm Feb 17, 2012 11:18pm
Decided to post this as seems like no one has talked about this yet.

A significant level that interests me, PA permitting.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYDaily.png Size: 58 KB
  • #107,607
  • Feb 18, 2012 2:43am Feb 18, 2012 2:43am
[quote=lananpips;5396865]
Quote
hi fxgroup,

can you explain a little bit of what you mean when you see the H&S?
can you also confirm the target?
sorry if its too elementary.
thanks in advance.

Allan
The H&S pattern is a price reversal pattern (red colour) and as you see on my chart is a pattern made by the head (at the lowest support level-97.20) and two shoulders (with a neckline as R-102).
After the price closed above the neckline, it retreaced to the neckline and give us the pattern confirmation with the BUOB at the confluence of dynamic, static and Fibb levels...102RN on my chart.
The H&S pattern has an initial target at the projection of the distance from the head to the neckline....106.50
Nothing personal,just business
  • #107,608
  • Feb 18, 2012 8:23am Feb 18, 2012 8:23am
Quoting miracle16
Decided to post this as seems like no one has talked about this yet.

A significant level that interests me, PA permitting.

I look for her to head for the 127.50 (365MA) area, then turn.
Attached Image (click to enlarge)
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  • #107,609
  • Feb 18, 2012 8:47am Feb 18, 2012 8:47am
Quoting heebbyjeeby
Hey guys,

Really getting into the j16 style of trading. Can the senior member comment on my analysis of this.

http://my.jetscreenshot.com/11256/m_...-lnyz-87kb.jpg
i'm not senior but i can tell you why i'd pass. I may be wrong but i'd pass anyway.

What you're looking at (assuming it's the little pinbar) is quite a small pin which is in traffic. Quite nice formation and closed bullish so not bad form, but in my view the wrong location. It may well break and go up a bit but my chart shows the 365EMA (very strong resistance as you can see) right in the way.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf d1 170212.gif Size: 26 KB

We have a consolidation box which is showing considerably respected levels at top (RN.92 ish) and bottom (RN .91 ish).
I've marked an area where i would consider taking the bar you mention.
Even if i were to take it at the location marked i'd have to be aware of the amount of traffic (previous bar lows/bar highs) which are around and set stops/TP levels accordingly.

Personally i do like trading some consolidation boxes, but only well established ones, from the tops or bottoms, and with PA and some other confluence.

This bar may be signalling that the box is ready to break, but that's above my level so i'd pass it. Hope that helps.
  • #107,610
  • Feb 18, 2012 11:21am Feb 18, 2012 11:21am
Quoting beebolbod
i'm not senior but i can tell you why i'd pass. I may be wrong but i'd pass anyway.

What you're looking at (assuming it's the little pinbar) is quite a small pin which is in traffic. Quite nice formation and closed bullish so not bad form, but in my view the wrong location. It may well break and go up a bit but my chart shows the 365EMA (very strong resistance as you can see) right in the way.
Attachment
We have a consolidation box which is showing considerably respected levels at top (RN.92 ish) and bottom (RN .91 ish).
I've...
great job B!


  • #107,611
  • Feb 18, 2012 11:22am Feb 18, 2012 11:22am
Quoting lananpips
The H&S pattern is a price reversal pattern (red colour) and as you see on my chart is a pattern made by the head (at the lowest support level-97.20) and two shoulders (with a neckline as R-102).
After the price closed above the neckline, it retreaced to the neckline and give us the pattern confirmation with the BUOB at the confluence of dynamic, static and Fibb levels...102RN on my chart.
The H&S pattern has an initial target at the projection of the distance from the head to the neckline....106.50
i see..nice explanation.
thanks for sharing.
When the internal struggle ends, everything becomes easy - Mr. Douglas
  • #107,612
  • Feb 18, 2012 11:23am Feb 18, 2012 11:23am
Quoting WHenderson
Hello, guys.
What are the BRNs for pairs like X/NOK, X/SEK, X/DKK... whose pips have a very small value?

Is it 5.00, 5.05, 5.10, 5.15...,

or 5.00, 5.50, 6.00, 6.50...?

I feel that the former are too close to one another, but the latter are too far apart, lol.

Edit: Would it be a good idea to go for something like: 5.00, 5.25, 5.50, 5.75, 6.00...?

Thanks in advance and have a great weekend!
Hey Henderson

They would be 5.0 5.5 6 etc

But I do use and watch the 5.25 5.75 etc . They can be just as strong. The BRNs are always just sort of a framework for me initially. Then we want to confirm these levels

Best
Mike
  • #107,613
  • Feb 18, 2012 11:41am Feb 18, 2012 11:41am
Quoting mbqb11
great job B!


Hey guys, Thanks so much for the support. Ye make FF the site it is.

I have a few charts that Im watching and have established a bias, and am wondering if you could give your 2 cents on. Thanks so much

http://my.jetscreenshot.com/11256/m_...-ep98-87kb.jpg


http://my.jetscreenshot.com/11256/m_...-qexk-89kb.jpg


http://my.jetscreenshot.com/11256/m_...-ykhz-86kb.jpg
  • #107,614
  • Feb 18, 2012 11:50am Feb 18, 2012 11:50am
Quoting heebbyjeeby
Hey guys, Thanks so much for the support. Ye make FF the site it is.

I have a few charts that Im watching and have established a bias, and am wondering if you could give your 2 cents on. Thanks so much

http://my.jetscreenshot.com/11256/m_...-ep98-87kb.jpg


http://my.jetscreenshot.com/11256/m_...-qexk-89kb.jpg


http://my.jetscreenshot.com/11256/m_...-ykhz-86kb.jpg...
Fantastic Heebby
  • #107,615
  • Feb 18, 2012 11:55am Feb 18, 2012 11:55am
Quoting mbqb11
Fantastic Heebby
Thanks a million mike. Means so much.

I have probably a very simple question.

I have found that my oanda charts are not a effective as my ibfx ones. Is gmt 0 the best charts to go by? Or what do you guys think?
  • #107,616
  • Feb 18, 2012 11:57am Feb 18, 2012 11:57am
Quoting heebbyjeeby
Thanks a million mike. Means so much.

I have probably a very simple question.

I have found that my oanda charts are not a effective as my ibfx ones. Is gmt 0 the best charts to go by? Or what do you guys think?
I use a 5pm et NY close. It's my preference at least. I think of it as the unofficial official close to the main sessions(end of NY). But it's up to you. I don't like Oandas close because it is at midnight and is then bringing in 7hrs roughly of the less liquid slower sessions.

You don't need to chart and trade on the same broker. I use Oanda for example as one of my brokers but chart of different brokers

Best
Mike
  • #107,617
  • Feb 18, 2012 12:00pm Feb 18, 2012 12:00pm
Quoting mbqb11
I use a 5pm et NY close. It's my preference at least. I think of it as the unofficial official close to the main sessions(end of NY). But it's up to you. I don't like Oandas close because it is at midnight and is then bringing in 7hrs roughly of the less liquid slower sessions.

You don't need to chart and trade on the same broker. I use Oanda for example as one of my brokers but chart of different brokers

Best
Mike
Spot one mike.

That is my feeling also. What broker charts do you use if I may ask?

Also once again I would like to thank you so much, and how much I admire yourself, and Jim, Jaroo, all the others who dedicate so much to the people of this site. You are inspirational.
  • #107,618
  • Feb 18, 2012 12:04pm Feb 18, 2012 12:04pm
Quoting heebbyjeeby
Spot one mike.

That is my feeling also. What broker charts do you use if I may ask?

Also once again I would like to thank you so much, and how much I admire yourself, and Jim, Jaroo, all the others who dedicate so much to the people of this site. You are inspirational.
thanks Heeb for the nice words

I use fxpro for my daily/weekly closes they have a 5pm et. So does think or swim if you are looking for some other pairs too.

Best
Mike
  • #107,619
  • Feb 18, 2012 12:08pm Feb 18, 2012 12:08pm
Quoting mbqb11
thanks Heeb for the nice words

I use fxpro for my daily/weekly closes they have a 5pm et. So does think or swim if you are looking for some other pairs too.

Best
Mike
Thanks so much Mike.

I will look into FxPro.
  • #107,620
  • Feb 18, 2012 2:58pm Feb 18, 2012 2:58pm
Hello,

There is indicator, called M-Candles.mq4, which allows to draw Higher timeframe Candles on lower timeframes.
- Maybe anybody seen similar indicator, which additionally has "shift", so we, for example, can generate shifted H4 Candles?


Thanks!
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