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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

  • #125,641
  • May 23, 2013 8:17pm May 23, 2013 8:17pm
USD/CAD looks like it is approaching an interesting area.
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  • #125,642
  • Edited May 24, 2013 3:17am May 23, 2013 10:21pm | Edited May 24, 2013 3:17am
USD/CHF had me a little confused with the daily close above and below this monthly level.
I am now looking at it from both he perspective of the retrace to the monthly level after a significant daily close below it and, the SFP possibility on the Hourly TF.

Let's see what happens.

EDIT: I realize that in the last screenshot, this SP is not going to be a true SFP in the original methodology.
It is something I am looking into so, please ignore this as an SFP because as Jarroo pointed out to me, it is not a true SP to be considered a true area for an SFP to occur.
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  • #125,643
  • May 24, 2013 1:52am May 24, 2013 1:52am
On daily chart oil has made a pin bar yesterday. It seems price is in a box. What do you think?
  • #125,644
  • May 24, 2013 8:35am May 24, 2013 8:35am
Quoting mbqb11
{quote} Great Ekling Not sure if you saw my chart here, it's the one I sent the group http://www.forexfactory.com/showthre...06#post6679506 {image} {image}
took profit on this one
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  • #125,645
  • May 24, 2013 9:13am May 24, 2013 9:13am
Quoting mbqb11
{quote} took profit on this one {image}
nice one Mike
  • #125,646
  • May 24, 2013 3:33pm May 24, 2013 3:33pm
Quoting mbqb11
{quote} took profit on this one {image}
Hey Mike,

May I ask where did you put your stoploss in this trade?
  • #125,647
  • May 24, 2013 5:00pm May 24, 2013 5:00pm
Is the James16pattern ex4 reliable??...is somebody using it?
  • #125,648
  • May 24, 2013 5:28pm May 24, 2013 5:28pm
Hey guys, sorry I didn't share this earlier for any interested, but here is a trade I took this morning. July Soybean futures. Huge PB at BRN and a good PPZ. Closed most of it out at the end of the day for about a 7.5 tick move. It sure feels good when patience pays off. Getting closer and closer to going live. Thanks again to everyone who puts in so much time and dedication for the benefit of others.

walt


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  • #125,649
  • May 24, 2013 7:30pm May 24, 2013 7:30pm
Quoting bwaltner
Hey guys, sorry I didn't share this earlier for any interested, but here is a trade I took this morning. July Soybean futures. Huge PB at BRN and a good PPZ. Closed most of it out at the end of the day for about a 7.5 tick move. It sure feels good when patience pays off. Getting closer and closer to going live. Thanks again to everyone who puts in so much time and dedication for the benefit of others. walt {image}
Nice Trade
And yes, patience is key.. it's something I'm working hard to improve on..

K
  • #125,650
  • May 24, 2013 9:27pm May 24, 2013 9:27pm
Quoting Pinbar
USD/CAD looks like it is approaching an interesting area. {image}
Yes indeed Steve ..The Weekly SFP with the near term Swing Highs should give a Bearish bias for next week . .

We'll see how Price respects the 1.0280 as Support since PBT&CA the Weekly HCR level. A Daily Close Confirmation of Support at the 1.0280 will give us evidence of that Support .

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #125,651
  • May 25, 2013 7:45am May 25, 2013 7:45am
Quoting jarroo
{quote} Yes indeed Steve ..The Weekly SFP with the near term Swing Highs should give a Bearish bias for next week . . We'll see how Price respects the 1.0280 as Support since PBT&CA the Weekly HCR level. A Daily Close Confirmation of Support at the 1.0280 will give us evidence of that Support . Jim {image} {image}
Hi Jarroo,

Do I understand you correctly in that you would like the daily to test the support and close above in order to then play this support long on the next touch after the DCC?

Thanks!
  • #125,652
  • May 25, 2013 8:27am May 25, 2013 8:27am
Quoting mbqb11
{quote} took profit on this one {image}
Hi Mike, this is nice pin bar with your style ?
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  • #125,653
  • May 25, 2013 11:31am May 25, 2013 11:31am
Hi guys!

I would like to test a strategy (manually) - and for that I want to "go back in time" and be able to buy and sell.
Then for example I press a button (f12) and the chart moves 1 day ahead - and I see if my order has triggered - or i see my current loss / gain on the position. (Just like in real time, now)

(Actually I know how to go back in mt4, but im missing the trading part - i dont want to sit there with a scale in my hands and try to read the pips and calculate the current gain / loss.)

Yeah and one more thing - I will be thankful if the program / addon would be free... (I know Forex Tester is 200USD..)

Thanks,
Stephen
It's all psychology...
  • #125,654
  • May 25, 2013 1:08pm May 25, 2013 1:08pm
Quoting Nake
{quote} Hi Mike, this is nice pin bar with your style ?{image}

Hey Nake

Price is in a box here so the midpoint should at least get tested with that pin at the BRN. Trying to hold to the bottom of the box is fine too but this pair is a bit more tricky since that bottom of the box is getting close to where price was capped for so long. So that could be extra strong so be aware. Just make sure that the left eye area holds(top of box BRN) for a good reduction in stop loss/risk

Here is a chart

Mike
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  • #125,655
  • May 25, 2013 1:32pm May 25, 2013 1:32pm
Quoting Microtrader_
{quote} Hey Mike, May I ask where did you put your stoploss in this trade?
Hey Micro


Here was my video on it

http://rapidshare.com/files/38399782...ily%20buob.wmv

Hope it helps
Mike
  • #125,656
  • May 25, 2013 1:35pm May 25, 2013 1:35pm
Quoting bwaltner
Hey guys, sorry I didn't share this earlier for any interested, but here is a trade I took this morning. July Soybean futures. Huge PB at BRN and a good PPZ. Closed most of it out at the end of the day for about a 7.5 tick move. It sure feels good when patience pays off. Getting closer and closer to going live. Thanks again to everyone who puts in so much time and dedication for the benefit of others. walt {image}
nice one walt! Way to be picky

Mike
  • #125,657
  • May 25, 2013 1:37pm May 25, 2013 1:37pm
Quoting LamerTrader
Hi guys! I would like to test a strategy (manually) - and for that I want to "go back in time" and be able to buy and sell.Then for example I press a button (f12) and the chart moves 1 day ahead - and I see if my order has triggered - or i see my current loss / gain on the position. (Just like in real time, now) (Actually I know how to go back in mt4, but im missing the trading part - i dont want to sit there with a scale in my hands and try to read the pips and calculate the current gain / loss.) Yeah and one more thing - I will be thankful if...
Hey Stephen


I have never used it but you can check out something called VHANDS

http://www.forexfactory.com/showthread.php?t=60849


Best
Mike
  • #125,658
  • May 25, 2013 7:37pm May 25, 2013 7:37pm
Quoting timo4sho
{quote} Hi Jarroo, Do I understand you correctly in that you would like the daily to test the support and close above in order to then play this support long on the next touch after the DCC? Thanks!
That is correct .. or an entry on the Close of the DCC.
Indicators show the past. Price Action "Indicates" the future.
  • #125,659
  • May 25, 2013 9:19pm May 25, 2013 9:19pm
Jim, here is my take on what we discussed.

Hope, I am still in the same ball park, with this.
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  • #125,660
  • May 25, 2013 9:26pm May 25, 2013 9:26pm
Quoting Pinbar
Jim, here is my take on what we discussed. Hope, I am still in the same ball park, with this. {image}
You nailed it Steve . . . .

Let me show some more charts GbpAud 5/23 Daily and Hourly SFP . . and how HCR/LCS levels were applied or used for entries , targets, exits, etc.

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