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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

  • #107,861
  • Feb 23, 2012 8:59pm Feb 23, 2012 8:59pm
80 BRN
Rejected off 50fib retracement and confluence with 38.2
Rising TL
With trend trade
Bullish flag
D1 printed IB

Low risk entry
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  • #107,862
  • Feb 23, 2012 9:06pm Feb 23, 2012 9:06pm
Quoting Pinbar
Anyone know how to easily convert an MT4 indicator from an EXE file to an MQ4?
Drop the indicator into corresponding MT4 folder and right click it and select "modify" to be opened in MT4 editor. That's the indicator source code. Hiiii to everyone in this great thread!!
  • #107,863
  • Feb 23, 2012 9:12pm Feb 23, 2012 9:12pm
Quoting Rosco_P
Hoping I could get some feedback on this possible trade set-up.

The location and size seem solid and the bounce was off a strong monthly PPZ albeit 2002. Not sure if I drew the FTA correctly, but if I did their seems to be plenty of room to breath. Moreover, the sentiment seems to be bullish on the EURO.

Therefore, I thought it was a decent trade.

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Here are my thoughts on it. While the pinbar is nice and bouncing off a pretty good spot, it is a possible trade if managed correctly. FTA is very close and overall trend is still undoubtedly down. One plus is you have bullish divergence from indi's so just keep an eye out on the FTA and manage this one well!
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  • #107,864
  • Feb 23, 2012 9:53pm Feb 23, 2012 9:53pm
Quoting Achiever12
Drop the indicator into corresponding MT4 folder and right click it and select "modify" to be opened in MT4 editor. That's the indicator source code. Hiiii to everyone in this great thread!!
welcome Achiever

Thanks for helping on your first post!
  • #107,865
  • Feb 23, 2012 10:23pm Feb 23, 2012 10:23pm
Quoting biDc
Here are my thoughts on it. While the pinbar is nice and bouncing off a pretty good spot, it is a possible trade if managed correctly. FTA is very close and overall trend is still undoubtedly down. One plus is you have bullish divergence from indi's so just keep an eye out on the FTA and manage this one well!
bingo b! That FTA is KEY.

At least I am treating it as so. To the downside we have the BRN of 7.5 and more importantly the 3 bar lows

I call these quick hitters, or cut out quick.

Nice post B

Mike
  • #107,866
  • Feb 23, 2012 10:55pm Feb 23, 2012 10:55pm
charts
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  • #107,867
  • Feb 23, 2012 10:58pm Feb 23, 2012 10:58pm
charts
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  • #107,868
  • Feb 23, 2012 10:58pm Feb 23, 2012 10:58pm
Quoting thermobee
Thanks Jarroo. Will keep an eye on it.

Looking good, thermo . .

That's a great confluenced level . .some nice Bullish PA there would be great .
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Indicators show the past. Price Action "Indicates" the future.
  • #107,869
  • Feb 23, 2012 10:59pm Feb 23, 2012 10:59pm
chart
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  • #107,870
  • Feb 23, 2012 11:06pm Feb 23, 2012 11:06pm
Quoting james16
charts
Quoting jarroo
Eur/Jpy before and after . .the 104.75 should have been 104.72 . .


I was a little late to the party, Jim . .
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Indicators show the past. Price Action "Indicates" the future.
  • #107,871
  • Feb 23, 2012 11:12pm Feb 23, 2012 11:12pm
Quoting FX.Sniffer
I agree. BTW cool new abbreviations

Thanks Sniffer . .Highest Close of Resistance (HCR) and Lowest Close of Support (LCS) are levels that I discovered but the other 90% of how I trade came from James16 and Mike . .we are all basically talking about the same thing . .key S/R levels of the market.
Indicators show the past. Price Action "Indicates" the future.
  • #107,872
  • Feb 23, 2012 11:43pm Feb 23, 2012 11:43pm
Quoting Pinbar
There she blows.

Yes, Jim exactly as you say, the daily PB was what I wanted to see form and break today, as it just has.

Gaining much more confidence in these levels, due to your teachings.
A week or so ago, I thought I was losing my mind staring at charts and lots of lines, felt totally disconnected from the charts. A rest and taking a few hours off seems to have put things back into perspective with a little more clarity than before.


PS: The only way I could hold onto this M30 PB through the drawdown, was with what J16 taught us, "This...

I know the feeling, Pinbar . .all to well. I have found it best to step back and just look at the deepest Swing Points and just concentrate my efforts there. The stuff in the middle can get a bit hairy but tradable when clearly defined and confluenced.

The AudCad was sweet! . . you were definitely concentrating at the right area . .and many different TFs gave clues that the flip from Resistance to Support was taking place.

Nice job. . .


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #107,873
  • Feb 23, 2012 11:50pm Feb 23, 2012 11:50pm
Quoting g_j_hook@yah
Nice entry PB! like it!!!

jon

Hey Jon . . good to see you . .
Indicators show the past. Price Action "Indicates" the future.
  • #107,874
  • Feb 24, 2012 12:09am Feb 24, 2012 12:09am
Quoting beebolbod
Was watching this and missed it.... grr. It retraced on 4h to within 1 pip of my TL but i didn't have an order set up there, i was waiting for confirmation of close below. I'll see if it comes back...

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Quoting beebolbod
hehe - i also marked this one last night....

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Quoting jarroo
Just as we predicted . . .right beebolbod? . . .


Deja vu all over again . .right beebo? . .
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Indicators show the past. Price Action "Indicates" the future.
  • #107,875
  • Feb 24, 2012 12:17am Feb 24, 2012 12:17am
Hello Mike

Should get another packet pair U/J
ib


Thank you very much
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  • #107,876
  • Feb 24, 2012 1:07am Feb 24, 2012 1:07am
Quoting Pinbar
Anyone know how to easily convert an MT4 indicator from an EXE file to an MQ4?
i believe it is impossible unless u have an exe to mq4 converter program

Quoting james16
chart
many thanks Sir. lots of charts from u lately
  • #107,877
  • Feb 24, 2012 1:18am Feb 24, 2012 1:18am
Quoting jarroo
Deja vu all over again . .right beebo? . .
Indeed. But i'm not in it. AGAIN!!!! One day i'll get this right.
  • #107,878
  • Feb 24, 2012 1:40am Feb 24, 2012 1:40am
Hello, guys.
If I'm not mistaken, this buob is at a great location. It's a Nasdaq March 2012 futures chart. What I like about the bar is that it closed above 2600 BRN, and above all the previous highs. Also, it is in a very clear bullish channel. Any comments are greatly appreciated.

William
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  • #107,879
  • Feb 24, 2012 2:37am Feb 24, 2012 2:37am
Quoting Rust
Next try :

Breakout/pullback continuation pinbar off previous resistance , now turned to support (let it be strong ) . Also e RN of 1.3250 , which is the middle of the major ones (1.3000 and 1.3500) , which i find important . I like the space to the upside . Could we fly away is the question
Well , an update to this nice babe
Approaching a zone of interest . Time for decisions
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  • #107,880
  • Feb 24, 2012 3:52am Feb 24, 2012 3:52am
Quoting james16
chart
Hi Jim,
My view is slightly diferent, but almost the same as yours. The level 1.4376 doesn't look bad at all.
Jarda

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