Disliked{quote} Watch out for the consolidation its going into. Has a distinct lack of space about it. {image}Ignored
Mike
Where can I learn more about Price Action like those in James16 charts? 9 replies
Disliked{quote} Watch out for the consolidation its going into. Has a distinct lack of space about it. {image}Ignored
Disliked{quote} Thank you Mike! I never understood where you get all the free time to help us out I closed the trade with few pips earlier this morning. I want to ask you about a MM question. I have been averaging around 2-4% gains per month. Using a 100:1 mini leverage account. I watch around 24 pairs every day for an hour and aim for 5-6 trades a month yielding around 300-400 pips using 1% position size (100 pips = 1% so basically no leverage). Do you think that I should reduce position size and try to get more pips to keep ROI at 4% or I should...Ignored
Disliked{quote} Hi Mike, this entry was excellent = pinbar, round number, major support and macd divergence for whoose use it. After the initial breakout, it make an pull back, retest the trend line it broke and now we have an nice pinbar again in H4. Very good setup, what do you think ? thanks Greg {image}Ignored
DislikedAud/usd. Could it be a beob forming maybe a close below our box consolidation? Few more hours we shall see.Ignored
Disliked{quote} Hey Joe Be careful remember we want pinbars at swing high points so this wouldn't be a pin we would look to trade. Same with beobs we want at swing highs when starting out There is a TBL that a break could signal a continuation but we have good support just below. Best MikeIgnored
Disliked{quote} good reason not to even bother checking your daily charts till a bit before the close so much can change. Notice the TBL break. I think we will now test the bottom of the channel , Doubt we bust through that on a friday. If price closes just above that TL i wouldn't be surprised to see a break of the beob and a reversal there , then maybe a break next week. Just something that tends to happen, but you never know {image}Ignored
Disliked{quote} good reason not to even bother checking your daily charts till a bit before the close so much can change. Notice the TBL break. I think we will now test the bottom of the channel , Doubt we bust through that on a friday. If price closes just above that TL i wouldn't be surprised to see a break of the beob and a reversal there , then maybe a break next week. Just something that tends to happen, but you never know {image}Ignored
Disliked{quote} Hey Joe Be careful remember we want pinbars at swing high points so this wouldn't be a pin we would look to trade. Same with beobs we want at swing highs when starting out There is a TBL that a break could signal a continuation but we have good support just below. Best MikeIgnored
Disliked{quote} Hi Mike, can you explain what I TBL is? I'm not familiar with this acronym. Thanks, SiIgnored
Disliked{quote} How do people play BEOB (or PBs too) that are so large? I'm guessing you wouldn't put a 150 stop?Ignored
Disliked{quote} good reason not to even bother checking your daily charts till a bit before the close so much can change. Notice the TBL break. I think we will now test the bottom of the channel , Doubt we bust through that on a friday. If price closes just above that TL i wouldn't be surprised to see a break of the beob and a reversal there , then maybe a break next week. Just something that tends to happen, but you never know {image}Ignored
Disliked{quote} good reason not to even bother checking your daily charts till a bit before the close so much can change. Notice the TBL break. I think we will now test the bottom of the channel , Doubt we bust through that on a friday. If price closes just above that TL i wouldn't be surprised to see a break of the beob and a reversal there , then maybe a break next week. Just something that tends to happen, but you never know {image}Ignored
Disliked{quote} Hey Si You can read on post # 2 from James about TBL two bar lows http://www.forexfactory.com/showthre...7908#post17908 Best MikeIgnored
DislikedThanks Pinbar, my trade is already locked in profit and still running. My question was about the proper trade management and, in particular, about how to choose the right protection profit level.Ignored