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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

  • #107,621
  • Edited 10:39pm Feb 18, 2012 10:29pm | Edited 10:39pm
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...
brilliant analysis like mike said. glad to have found someone using weekly 20,50MAs too
  • #107,622
  • Feb 19, 2012 7:52am Feb 19, 2012 7:52am
Hey Guys,

What do you think of this GBPNZD weekly pin. What's the pros and cons. Would it be rated A+.

Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpnzd.gif Size: 32 KB
SNR with Price Action...
BitCrossNG Return Today: na
  • #107,623
  • Feb 19, 2012 9:04am Feb 19, 2012 9:04am
I would say the Cons are that NZD is currently the strongest currency of all the majors, while the GBP is medium-strong and the downtrend is still very active in this pair. Are you waiting for additional candlestick patterns?
  • #107,624
  • Feb 19, 2012 9:14am Feb 19, 2012 9:14am
Quoting Fxnumen
Hey Guys,

What do you think of this GBPNZD weekly pin. What's the pros and cons. Would it be rated A+.

Thanks.
If we zoom out it's quite a small one. didn't close above 1.90 RN. Big downtrend.
Daily had a nice one which went for 100+ pips so i'd have preferred to have been in on that one with no risk at this point.

I'm still at the stage where i miss good stuff and take some bad stuff so for me i'm not sure and that is reason enough to stay out of it.

It'll probably start the beginning of the largest bull trend in years now i've said that Part of my own learning is dealing with missing stuff....

We need the masters opinions.
  • #107,625
  • Feb 19, 2012 9:57am Feb 19, 2012 9:57am
GBPNZD weekly chart
Attached Image (click to enlarge)
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  • #107,626
  • Feb 19, 2012 10:12am Feb 19, 2012 10:12am
Quoting Forex5050
I would say the Cons are that NZD is currently the strongest currency of all the majors, while the GBP is medium-strong and the downtrend is still very active in this pair. Are you waiting for additional candlestick patterns?
Not really...Just like beebolbob said, it couldn't close above the BRN. I might drill down to lower TFs and see whats happening.

Thanks ya'll for the input.

Cheers

PS: We sure need the input of the J16 Elders
SNR with Price Action...
BitCrossNG Return Today: na
  • #107,627
  • Feb 19, 2012 10:22am Feb 19, 2012 10:22am
Just had to show people this, 3 pins on this pair in a row!!, all of them hitting the FTA every time, shows the importance of taking action at FTA no matter what.
Attached Image (click to enlarge)
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  • #107,628
  • Feb 19, 2012 10:52am Feb 19, 2012 10:52am
Quoting equivestor12
Got it. Very simple, thanks.



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...

No problem with a break even trade equivestor as long as Price hit your 1st FTA.

About your charts . .I use FxPro due to its 5:00PM (EST) Close. . . so your Oanda feed looks very mixed to me. Also if I go down to the 4 Hour or Hourly, I bring the Daily and Weekly HCR/LCS levels along with their targets (FTAs) with me. So what does your charts look like on the 4 Hour with these in place?

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #107,629
  • Edited 11:24am Feb 19, 2012 11:12am | Edited 11:24am
Quoting deankenny21
Just had to show people this, 3 pins on this pair in a row!!, all of them hitting the FTA every time, shows the importance of taking action at FTA no matter what.

Hey Dean . .well said . . . .James16 would be smiling big time at your post. .

Those PBs hitting their 1st target(s) this is where the 80-90% hit rate that James16 speaks of. But many people see the "small" amount of pips to the 1st target and say, "I want 300 pips not just 25 pip . ." . or . ." the R:R is bad" . . .etc.

We can weed out the quality of these different PBs that fit our style . .meaning more long term or short term or just plan "pass on these".

I like #2 because it's bigger in Size and at a Swing High. (and its still working).

#4 should be fun to watch. . although I would have liked the "nose" of that PB taking out previous bar Highs. (its the same problem that #1 had but with Lows . .)


Jim
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #107,630
  • Feb 19, 2012 6:30pm Feb 19, 2012 6:30pm
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
Hey Mike.

What country do you use with FxPro? I just checked and do not see U.S.

Good Trading
Mike (the other one) lol
  • #107,631
  • Feb 19, 2012 6:43pm Feb 19, 2012 6:43pm
Quoting tubguy
Hey Mike.

What country do you use with FxPro? I just checked and do not see U.S.

Good Trading
Mike (the other one) lol
Hey Mike!

I just picked some random country. I don't trade with them, just for charting. So just pick a random country

Best
Mike
  • #107,632
  • Feb 19, 2012 7:02pm Feb 19, 2012 7:02pm
Quoting mbqb11
Hey Mike!

I just picked some random country. I don't trade with them, just for charting. So just pick a random country

Best
Mike

Alright, thanks Mike. I thought that would effect the chart time. You would think I should know by now. Been hangin around long enough. LOL
  • #107,633
  • Feb 19, 2012 7:47pm Feb 19, 2012 7:47pm
Hey Mike and Jim,

I have a general question, as tomorrow is bank holiday in USA and Canada.
If I get setup on touch-trade, should I pick it or wait to next working day? Also is it ok to trade on Sunday evening? Some trader suggest not to trade on Sunday? What is your advise?

Thanks.
Kay.Kay.
  • #107,634
  • Feb 19, 2012 7:54pm Feb 19, 2012 7:54pm
Quoting fxkaka
Hey Mike and Jim,

I have a general question, as tomorrow is bank holiday in USA and Canada.
If I get setup on touch-trade, should I pick it or wait to next working day? Also is it ok to trade on Sunday evening? Some trader suggest not to trade on Sunday? What is your advise?

Thanks.
Kay.Kay.
Hey KK

I don't touch trade all that much but if it was a significant enough level then I would. If it's just more a weak intraday level I wouldn't be willing to. I don't really trade on sunday evenings but I do place my daily/weekly trades upon the sunday open. That's just a matter of when/if they trigger.

As for holidays generally I just stay out if it's a major one as the markets are thin and more times then not are just dead(which in turn should keep someone out since not much is going on). But because of this whole greece mess the markets could certainly be pretty active in the euro session so I just keep it simple and follow the charts ultimately.

Best
Mike
  • #107,635
  • Feb 19, 2012 7:54pm Feb 19, 2012 7:54pm
Quoting fxkaka
Hey Mike and Jim,

I have a general question, as tomorrow is bank holiday in USA and Canada.
If I get setup on touch-trade, should I pick it or wait to next working day? Also is it ok to trade on Sunday evening? Some trader suggest not to trade on Sunday? What is your advise?

Thanks.
Kay.Kay.
Personally i stick to the plan, and if price action shows a valid trade i take it, ive ignored bank holiday days especially usa ones, as London is bigger than New York
  • #107,636
  • Feb 19, 2012 8:16pm Feb 19, 2012 8:16pm
I was wondering if you guys could give me some feedback on this 4 hour pinbar setup on USD-JPY. The size and location seem to pretty good coupled with some clean space down to 79.00 and again to 78.50 or so.

Would this be a trade you would take? If not why?

Thanks in advance for any feedback

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  • #107,637
  • Feb 19, 2012 8:57pm Feb 19, 2012 8:57pm
Quoting Rosco_P
I was wondering if you guys could give me some feedback on this 4 hour pinbar setup on USD-JPY. The size and location seem to pretty good coupled with some clean space down to 79.00 and again to 78.50 or so.

Would this be a trade you would take? If not why?

Thanks in advance for any feedback

Attachment
That is a nice looking size pinbar to be fait in comparison to relative average size of others, but lets go up a timeframe and see where we are at, as you can see this is a HUGE PPV area with addded nice round number of 80, with lots of touches as support, and was major resistence now, i would of liked the pin to pierce the pivot zone that wouldve looked very good then
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  • #107,638
  • Feb 19, 2012 9:18pm Feb 19, 2012 9:18pm
Quoting Rosco_P
I was wondering if you guys could give me some feedback on this 4 hour pinbar setup on USD-JPY.

Attachment
I took so long to remember how to post charts again that Dean beat me to it, but I was pretty excited that he said pretty much what I would have.

This leads me to another Q though, does anyone know if you can adjust the MT4 feed to line Australian times up with the rest of the world?

My charts always show a tiny "day"'s candle on Monday morning (my time), when it should be included in Monday's overall candle. Other feeds I have don't do this but I would like to keep using MT4 as many of you guys seem to here.

Any help would be greatly appreciated!
cheers
cath
Attached Image (click to enlarge)
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  • #107,639
  • Feb 19, 2012 9:22pm Feb 19, 2012 9:22pm
Quoting CathS
I took so long to remember how to post charts again that Dean beat me to it, but I was pretty excited that he said pretty much what I would have.

This leads me to another Q though, does anyone know if you can adjust the MT4 feed to line Australian times up with the rest of the world?

My charts always show a tiny "day"'s candle on Monday morning (my time), when it should be included in Monday's overall candle. Other feeds I have don't do this but I would like to keep using MT4 as many of you guys seem to here.

Any help would be greatly...
Hey Cath

It's all dependent on the brokers opening. I am not sure what time Australian time is. I use fxpro for my main daily/weekly charting and they have a 5pm et NY time and no sunday candles.

Best
Mike
  • #107,640
  • Feb 19, 2012 9:26pm Feb 19, 2012 9:26pm
Quoting mbqb11
Hey Cath

It's all dependent on the brokers opening. I am not sure what time Australian time is. I use fxpro for my main daily/weekly charting and they have a 5pm et NY time and no sunday candles.

Best
Mike
That was fast, thanks! I will put my technical hat on and try to find out what broker they use!!

cheers Cath
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