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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

  • #81,781
  • Dec 7, 2010 7:49am Dec 7, 2010 7:49am
Hey Mike Happy Birthday to you.
May the lord be with you always.
You have always helped me like a big brother,so here are wishes from your brother.
Happy Birthday.
Sorry for being late.

Regards
Taz
  • #81,782
  • Dec 7, 2010 7:55am Dec 7, 2010 7:55am
Quoting Pinbar
Happy Birthday Mike..You Handsome devil.

May the chicks be lined up at your apartment tonight, with presents and goodies.
What? Who? Mike's birthday?!

Happy birthday, Mike! Enjoy your day!
Thanks J16, Sam Seiden, Udine and Jacko
  • #81,783
  • Dec 7, 2010 8:20am Dec 7, 2010 8:20am
Thanks for the nice wishes all love you guys/gals
  • #81,784
  • Dec 7, 2010 8:21am Dec 7, 2010 8:21am
HAPPY BIRTHDAY MIKE! and ..............THANK YOU!
Nothing personal,just business
  • #81,785
  • Dec 7, 2010 8:22am Dec 7, 2010 8:22am
Quoting mbqb11
Thanks for the nice wishes all love you guys/gals
Oh common,

Don't tell me you're going to be here assisting us even today

You should really be partying away mate.
I believe . . .
  • #81,786
  • Dec 7, 2010 8:26am Dec 7, 2010 8:26am
Just found out about your Birthday from reading others salutations.
So have a Happy and Grand Day Mike. With many more on the horizon.!!!!
Conquer the beast with disciplined determination and intellegent control.
  • #81,787
  • Dec 7, 2010 8:27am Dec 7, 2010 8:27am
Quoting mbqb11
Thanks for the nice wishes all love you guys/gals
A VERY HAPPY BIRTHDAY TO YOU MIKE AND MANY HAPPY RETURNS OF THE DAY...
  • #81,788
  • Dec 7, 2010 8:27am Dec 7, 2010 8:27am
Quoting ghous
Oh common,

Don't tell me you're going to be here assisting us even today

You should really be partying away mate.
This ain't college anymore those days are long gone. I am even doing my webinar tonight

But don't come looking for me this weekend
  • #81,789
  • Dec 7, 2010 8:32am Dec 7, 2010 8:32am
Quoting mbqb11
This ain't college anymore those days are long gone. I am even doing my webinar tonight

But don't come looking for me this weekend


g.
I believe . . .
  • #81,790
  • Dec 7, 2010 8:38am Dec 7, 2010 8:38am
Happy birthday Mike, wish you lots of pips.

May the force be with you,
Pipcrawler
  • #81,791
  • Dec 7, 2010 9:21am Dec 7, 2010 9:21am
Happy Birthday Mike !!
May all your charts fill with A+++ setups

Thank you for all your help and contributions to this thread,
  • #81,792
  • Dec 7, 2010 9:34am Dec 7, 2010 9:34am
happy bDay, Mike..!!
  • #81,793
  • Dec 7, 2010 9:36am Dec 7, 2010 9:36am
Quoting Pinbar
Sure, here is the link to all my indicators.

http://www.forexfactory.com/showpost...ostcount=78041


It is the Sweetspots Gold indicator.
I recommend you download the template ans use it with all the indicators then remove which ever ones you don't want.

Also, if you are using a 5 digit broker you need to set the indicator up accordingly as 10,000 and 5,000 pips.
For 4 digits 1000 & 500.
Thank you very much!
  • #81,794
  • Dec 7, 2010 10:14am Dec 7, 2010 10:14am
Happy Bday Mike


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...and a
Happy bday song
  • #81,795
  • Dec 7, 2010 10:16am Dec 7, 2010 10:16am
Really starting to enjoy trading higher time frames. Haven't looked at intraday charts in over a month.

Here is my take on USD/JPY. We have a 2 month pin bar that just closed. I took a retrace to a well defined PPZ. Hopefully it will close as a BUOB.
Where is it going? I don't know, but my stop is at BE. My eye is on the 87.00 - 88.00 zone.

Happy B-day Mike. Are you 30 yet? We need some company.

-- Danny
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  • #81,796
  • Dec 7, 2010 10:41am Dec 7, 2010 10:41am
Quoting jarroo
Thanks ppfx . ..yeah I started on the 15min -5min way back when. Thank God I found this thread.

The Gbp/Usd had some nice PPZ action around th 1.5650. Very clear price flips at this level on the Daily TF.

The 50% retracement offered some good confluence but no clear, strong PA was presented on the 4 Hour and Hourly. Although a tight S/L, touch trade could have taken . .
there was a nice opportunity on the AUDUSD too

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  • #81,797
  • Dec 7, 2010 10:47am Dec 7, 2010 10:47am
I have been looking for only pin bars in my short journey in fx, but now i'm trying to get grasp on other PA "tools". Here is GBPJPY chart where seems to be DBLHC (or BUOB?), which hasn't closed yet and pin bar left to them. Could this be a trend reversal? Hopefully I'm not completely lost
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  • #81,798
  • Dec 7, 2010 10:48am Dec 7, 2010 10:48am
Quoting Adilius07
I am still a little confused by the leverage thing. Mine always were 1:100
So now if Oanda's max is 1:50 do I need to care?
I still calculate my position size as 2% Risk. Dam I'm confused a little.
If my risk is only 2% that means I will never use that leverage available anyway, right?
le

hi Adi, basically a 50:1 leverage means you will pay double than a 100:1 leverage for the same trade.
e.g. 1 lot position with a 50 pip stop with a leverage of 100:1 might equal a 500 euro risk. (for e.g. if its 10 euros a pip per lot) but for the same position with a 50:1 leveraged account you will have a risk of(cost of) 1000 euros.
so yes it does make a difference!! you would need to half the position size to risk only 500 euros.
hope this helps

jon
PATIENCE... DISCIPLINE
  • #81,799
  • Dec 7, 2010 10:52am Dec 7, 2010 10:52am
us/yen looks like a good daily BUOB if it closes like it is now??just need it to close above 83 with a little conviction...
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PATIENCE... DISCIPLINE
  • #81,800
  • Dec 7, 2010 10:59am Dec 7, 2010 10:59am
Quoting JayPips
I have been looking for only pin bars in my short journey in fx, but now i'm trying to get grasp on other PA "tools". Here is GBPJPY chart where seems to be DBLHC (or BUOB?), which hasn't closed yet and pin bar left to them. Could this be a trend reversal? Hopefully I'm not completely lost
Hi Jay,

Your are correct, that is technically a dblhc. Unfortunately, it looks to be in a bad location. Generally these are best played at swing lows. This 2 bar setup seems to be in a choppy area. The only confluence it has going for it is the bounce off the round number (130.00).

Another question you want to ask yourself after seeing a bar setup is: "Where is it likely to go?" These questions will help you map out whether the trade is worth pursuing and if so, what your trade management will look like.

Great observation, and generally you will find after you get good at "bar hunting" the next step is "location hunting". These locations are where the magic happens. I make location #1 on my list before I start looking at the bar. But everyone learns and approaches trading differently.

Hope this helps.

-- Danny
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