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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

  • #109,781
  • Apr 3, 2012 11:41am Apr 3, 2012 11:41am
Quoting deankenny21
This has been discussed alot before, and the only answer many here can give, is find a broker for charting only and stick to it, dont look at any other broker, just do what that chart tells you.

For example, i use FXPRO, and they dont include that small sunday candle which can get in the way, but i dont use them for trading, i use Oanda.
Thanks man. My bad, bringing back an old subject! I will have to choose which graph to stick to then... I've always had a mt4 chart since the beginning.. but CITIFX pro has a grid where all the BRNs are right there!! choices...
  • #109,782
  • Apr 3, 2012 12:23pm Apr 3, 2012 12:23pm
Quoting mbqb11

Remember for a pinbar we want a nice long nose or tail to protrude away from previous price and then we want the open and close to be within the prior bar.

Also, I guess its important for the nose to be touching a significant level rather than for example the body touching the level and the nose protruding a long way through it.

If that was the case then the pin bar could be indicating a break through and retest of the level?
  • #109,783
  • Apr 3, 2012 12:47pm Apr 3, 2012 12:47pm
Quoting bfd
Also, I guess its important for the nose to be touching a significant level rather than for example the body touching the level and the nose protruding a long way through it.

If that was the case then the pin bar could be indicating a break through and retest of the level?
Hey B

It doesn't necessarily have to be the case. The one thing about all our price bars is that the context of them is everything. For the most part though when new we want to see them at very clean swing highs and lows protruding away from the previous price as you say. This is in my view the easiest way to begin to learn to trade PA the way James teaches, and that's where the emphasis is on for most of the thread.

But always remember the bar is only a part of the larger story that is oh so important

Hope that helps
Mike
  • #109,784
  • Apr 3, 2012 1:36pm Apr 3, 2012 1:36pm
big tornadoes near James, lets keep him and all the others near this in our prayers.
  • #109,785
  • Apr 3, 2012 1:43pm Apr 3, 2012 1:43pm
almost there. S/L @ even about 40 pips ago.
Attached Image
Many choose unhappiness over uncertainty.
  • #109,786
  • Apr 3, 2012 1:47pm Apr 3, 2012 1:47pm
Quoting Dan Gilbert
almost there. S/L @ even about 40 pips ago.
Meant to post about this dan. It broke solid. I would have moved my stop above the current high and 5900(looks like your 365) pretty quickly. Nice job getting to b/e quick too you may have done the above also. Tight mgmt is a MUST with these just as you did.

Best
Mike
  • #109,787
  • Apr 3, 2012 1:58pm Apr 3, 2012 1:58pm
Quoting mbqb11
Meant to post about this dan. It broke solid. I would have moved my stop above the current high and 5900(looks like your 365) pretty quickly. Nice job getting to b/e quick too you may have done the above also. Tight mgmt is a MUST with these just as you did.

Best
Mike
In my experience, if a trade doesn't run quickly like this, there isn't much reason to sit around and wait for it to become a loss.
Many choose unhappiness over uncertainty.
  • #109,788
  • Apr 3, 2012 2:23pm Apr 3, 2012 2:23pm
is there a script thet open trades by percentge?
Iam just A pips on the rode :nerd:
  • #109,789
  • Apr 3, 2012 2:51pm Apr 3, 2012 2:51pm
Quoting -er-
is there a script thet open trades by percentge?
This is not a script, but I use it to calculate my position size dependant on my stoploss. Maybe some of the experts can check it out and say if it is good or not. I only use it for an indication and not set and stone. O, before I forget, it has got to go into your expert folder and not the indicator folder. Hope it helps. You still have to do things manually.
Attached File(s)
File Type: ex4 Visual Position Size Calculator.ex4   8 KB | 392 downloads
  • #109,790
  • Apr 3, 2012 2:58pm Apr 3, 2012 2:58pm
A pic of how the indicator looks like.
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  • #109,791
  • Apr 3, 2012 3:16pm Apr 3, 2012 3:16pm
Quoting Rust
How about this :
(i took it )
yup - i got it. And AU. yum yum.
  • #109,792
  • Apr 3, 2012 4:20pm Apr 3, 2012 4:20pm
Quoting riandouma
This is not a script, but I use it to calculate my position size dependant on my stoploss. Maybe some of the experts can check it out and say if it is good or not. I only use it for an indication and not set and stone. O, before I forget, it has got to go into your expert folder and not the indicator folder. Hope it helps. You still have to do things manually.

i will give it a try thank u.
Iam just A pips on the rode :nerd:
  • #109,793
  • Apr 3, 2012 4:37pm Apr 3, 2012 4:37pm
Quoting riandouma
A pic of how the indicator looks like.
Quite comfortable indication and calculation. Thanks, Rian. Gonna throw my calculator away:-)
If not up, then down, otherwise sideways :-)
  • #109,794
  • Apr 3, 2012 4:38pm Apr 3, 2012 4:38pm
Quoting beebolbod
yup - i got it. And AU. yum yum.
Time to move stop at least at BE ? For me - yes !
Hope to see 1.0250 act as resistance .
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  • #109,795
  • Apr 3, 2012 6:44pm Apr 3, 2012 6:44pm
Quoting haircut
This really is simple Jarroo but i am beginning to be confident in the method and trying to pick these areas myself

thanks so much
Haircut



Quoting jarroo
two Lowest Close of Support levels great target and a level to keep your good eye on . .
You got your eye on this one (Gold), . . HC?
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Indicators show the past. Price Action "Indicates" the future.
  • #109,796
  • Apr 3, 2012 6:48pm Apr 3, 2012 6:48pm
Quoting cold chisel
They sure are, thanks again Jim. About the levels, I use for (monthly and weekly) levels only 2 years of data, daily levels upto 6-8 months old. But ... I'm a fairly new Jarrooer.

Thanks cold chisel . . they are alot of fun to do . .
Indicators show the past. Price Action "Indicates" the future.
  • #109,797
  • Apr 3, 2012 8:49pm Apr 3, 2012 8:49pm
Let's see if there is a reaction at the weekly daily confluence area.
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  • #109,798
  • Apr 3, 2012 9:34pm Apr 3, 2012 9:34pm
Jim, is this how we should be looking at these areas?
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  • #109,799
  • Edited 12:47am Apr 4, 2012 12:16am | Edited 12:47am
Quoting Pinbar
Let's see if there is a reaction at the weekly daily confluence area.

I have the Daily/Weekly HCR level , 90.59 (the Friday Close, 2/24 damn gaps) Price is having a hard time closing below this level. If it does close below the 90.59 we then have to deal with the 90.35 Daily LCS level . .

Chart 2 : Notice how this daily swing and its LCS level at the 90.97 worked out as predicted once PBT&CB it.
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Indicators show the past. Price Action "Indicates" the future.
  • #109,800
  • Apr 4, 2012 12:32am Apr 4, 2012 12:32am
Quoting Pinbar
Jim, is this how we should be looking at these areas?

Yes I believe your right on with the Weekly HCR levels. We were looking at the Daily HCR level(s). But I think the Weekly may be it !!. . the 1.5870ish level.

Thanks Pinbar . .


Jim
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Indicators show the past. Price Action "Indicates" the future.
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