james16 Chart Thread

Quoting mbqb11

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This one worked out nice, caught my take profit by a single pip. Sometimes you feel the market hits your stop by the pip so when it hits your take profit by a pip that makes up for it. (although we always forget these ones more then the losses LOL)

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Quoting Carnegie

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Awesome trade Mike, congratulations!

It does look a bit like the USDCAD trade I posted here:
http://www.forexfactory.com/showpost...ostcount=78824

But the problem is that I don't have a clue on how to trade these bearish engulfing patterns (I think you call it BEOVB?), do you just put the entry a couple of pips below it and a stop loss above it!?

congratis and have a great weekend!

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Quoting mbqb11

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Hey C

Yep my entry goes below the bar I am trading and my stop loss above the high to start out.

Best
Mike

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Quoting Carnegie

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Allright thanks for that one.. Now I'm wondering, do you consider risk/reward or you just don't mention that in the james16 trading style`?

sorry for terrorizing you with questions, I am on the way of reading the whole thread.. right now im on page 77

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Quoting mbqb11

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This one worked out nice, caught my take profit by a single pip. Sometimes you feel the market hits your stop by the pip so when it hits your take profit by a pip that makes up for it. (although we always forget these ones more then the losses LOL)

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Quoting fxtsun

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Hi Mike,

This is weird, why our charts look different, it's the same broker???




fxtsun
___________________________________
"Chance favours the prepared mind" - Louis Pasteur

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Quoting mbqb11

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Here ya go C

http://www.forexfactory.com/showpost...ostcount=70154


Best
Mike

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Quoting esbatu

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Hi guys, I've been scratching my heads over these two PB. They are quite similar, both located at swing low with divergence. They are only 30pips different in their low. The first one worked out, in terms of reaching the FTA, but the second one worked out even better. I think, I read in some posts that some of you take the second one but pass on the first one. Anyone like to share the idea why?

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Quoting Jey

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Hey Guys,

I need an EA that can close 1 lot at 20 pips ( I need to be able to change this figure too) and move my Stop to BE, then get my 2nd lot to TP at 30 pips then my final lot to trail at 15 pips. DO you know any that I can use? A simple one will do. Thanks.

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Quoting nasir.khan

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Here you go.

http://www.forexfactory.com/showpost.php?p=3258062

It may not do the trailing stuff but do search around for something like trade manager u will find it.
.

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Quoting mbqb11

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This one worked out nice...

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Quoting proletary

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Mike, I'd like to pick your brain about this trade if you don't mind.
In my eyes the chart you posted misses an important PPZ (added by me in red colour). Now the BEOB you took was a fine signal, but weren't you worried that it closed just before the PPZ and that the followng bar was definitely bullish in its nature?

Could you pls comment on that? And BTW did you enter when the BEOB broke the BRN level, at it's close or at the retrace?

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Quoting mbqb11

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Hey P

The way I trade the parity level encompasses your red line level as part of the zone. Price had a failure and lack of momentum above 1.0 signalling a stall in momnetum. Price then had a strong bearish move through 1.0, a pullback to the mid minor PPZ level above 1.0(the high of the beob) and then a very strong closing beob. I placed my order below the last low by a few pips. The next bar didn't bother me b/c of the lack of strong close back over the parity level which was my main focus.

Hope that helps
Mike

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Quoting proletary

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Thank you Mike. I understand the dynamics of the move and get your reasoning now. As for the parity level - the term is rarely used on this thread (or am I wrong?). By parity level do you mean some 'widened' PPZ?
Sorry if this is some newbie question but I thought parity was a price where relative equilibrum between supply and demand can be established. That in turn causes a ranging market...

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Quoting unlv_tj

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By "parity" Mike is refering to the HUGE round number of 1.0000.

1.0000 means both pairs are worth exactly the same or "parity". So this is a great area to look for price action to show the way.

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Quoting HanSolo

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The first thing that jumps out at me is the lower close than open and the somewhat serious downmove the first PB had to fight. It's a PB but due to it's size and weak close with a bearish outlook. On my chart it looked even weaker and was not even a pin. Plus there is some resistance (PPZ) to the upside it is trading into.

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Quoting nasir.khan

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Third,..... there is no divergence.
.

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Quoting lovejoy80

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Your chart concerns me...a) you are zoomed in and b) it is blank
If you go and mark you monthly, weekly, daily and finally 4HR PPZ's then it should become clear why one pin went to FTA and the other didn't

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Quoting unlv_tj

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By "parity" Mike is refering to the HUGE round number of 1.0000.

1.0000 means both pairs are worth exactly the same or "parity". So this is a great area to look for price action to show the way.

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Quoting bluetrader

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This TRID weekly stock chart looks tempting....

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Quoting Hitchhiker

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Monthly not quite closed but looks interesting

Attachment

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