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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

  • #98,721
  • Jul 18, 2011 2:46am Jul 18, 2011 2:46am
Quoting vinayn
Hey guys,
I have a question. On dailies, many keep the entry order hoping for the breakout of the pin for a day. If pin is not broken the next day the y cancel it. If there is pin on weekly how many days do you keep the order? Like in EURAUD weekly now, there is a pin. But now it is nowhere close to breaking of pin. How long do you keep the order?

Thanks guys,
Vinay
Me too, just 1 bar, whatever timeframe, if not triggered I cancel.
  • #98,722
  • Jul 18, 2011 3:09am Jul 18, 2011 3:09am
Is this just me, or Oanda's daily close really shows the setups more often and much clearer. Strange right?
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  • #98,723
  • Jul 18, 2011 3:12am Jul 18, 2011 3:12am
Quoting Adilius07
Me too, just 1 bar, whatever timeframe, if not triggered I cancel.
Thanks Gungriffin & Adilius07.
  • #98,724
  • Jul 18, 2011 3:13am Jul 18, 2011 3:13am
Quoting Adilius07
Is this just me, or Oanda's daily close really shows the setups more often and much clearer. Strange right?
Can you change the feed for MT5? Between the different brokers?
  • #98,725
  • Jul 18, 2011 3:17am Jul 18, 2011 3:17am
Quoting thermobee
Can you change the feed for MT5? Between the different brokers?
I really don't know this. I just use 4 different brokers.
  • #98,726
  • Jul 18, 2011 3:18am Jul 18, 2011 3:18am
Quoting Adilius07
I really don't know this. I just use 4 different brokers.
That feed you just showed from oanda, it looks like mt4.
  • #98,727
  • Jul 18, 2011 3:19am Jul 18, 2011 3:19am
Quoting thermobee
That feed you just showed from oanda, it looks like mt4.
Ah yes, all 4 brokers I use are Mt4 based.
  • #98,728
  • Jul 18, 2011 3:24am Jul 18, 2011 3:24am
Quoting Adilius07
Ah yes, all 4 brokers I use are Mt4 based.
Oh I see, thanks anyway.
  • #98,729
  • Jul 18, 2011 3:26am Jul 18, 2011 3:26am
Btw I am looking for an indicator that shows how much time left till the candle closes for MT5 anybody has one that works?
  • #98,730
  • Jul 18, 2011 8:11am Jul 18, 2011 8:11am
Has anyone else noticed or taken stock of the Charts aserbfx has posted?

He uses a compendium of methods but I bet he's adding Cargo.

J-mac
  • #98,731
  • Jul 18, 2011 8:16am Jul 18, 2011 8:16am
Quoting Bemac
Has anyone else noticed or taken stock of the Charts aserbfx has posted?

He uses a compendium of methods but I bet he's adding Cargo.

J-mac
I see what you did there

I definitely want to learn more about stocks in the near future.
Anything can happen.
  • #98,732
  • Jul 18, 2011 8:31am Jul 18, 2011 8:31am
Quoting esbatu
Hi Mike, or perhaps those who use Oanda. How early do you guys start monitoring and entering your position on Monday? During early hours on Monday morning, Oanda will sometimes have volatile movements on some pairs, but not these movements are not registered by those brokers that open later. I was wondering how reliable these movements are? Thanks

Hey E

I will enter my trades around 5pm est ny time on a sunday when most brokers "open".

Best
Mike
  • #98,733
  • Jul 18, 2011 8:49am Jul 18, 2011 8:49am
Quoting thermobee
Btw I am looking for an indicator that shows how much time left till the candle closes for MT5 anybody has one that works?
Hey T

THis should work on mt5 as far as I know

http://www.forexfactory.com/attachme...2009%2010:26am

Best
Mike
  • #98,734
  • Jul 18, 2011 9:33am Jul 18, 2011 9:33am
Quoting mbqb11
Hey T

THis should work on mt5 as far as I know

http://www.forexfactory.com/attachme...2009%2010:26am

Best
Mike
Thanks Mike, you tha man!
  • #98,735
  • Jul 18, 2011 10:21am Jul 18, 2011 10:21am
some of you guys took the trade on the eurusd pin bar, which doesn't show up on my chart at all, both my IBFX australia, and forex.com charts doesn't show pin bar, what time zone you guys used for the pin bar to show up?

When I use to trade with a trading group, GMT timeframes were supposed to be the best one, especially when using it to calculate daily and weekly pivots.
  • #98,736
  • Jul 18, 2011 10:22am Jul 18, 2011 10:22am
for who feels brave - 1.019 was confirmed as resistance.

I've passed on it due to news incoming, but PA wise, I think it could be decent enough at least till 1.0094(50% fibo of the last move) - 1.01. The pin is far from marvelous(technically you could say it's not precisely a pin - but the location is spot on)

What lies ahead:

in 12h - RBA minutes(that's the reason I've passed, despite the layout being quite good technical wise) - currently apparently it's pretty much priced in some rate decrease. If it turns out to be hawkish and that westpac comment from friday pointless(which it wouldn't be quite surprising - usually bureaucrats are slow to accept they're wrong), I expect aud to shoot.

if you plan to go with it till ahead of 1, be careful on rate differential - it eats ~ 0.89 pips/day and probably the move will take a couple of weeks so, with spread, you could end up paying about 20-25% of the total gain.

but at least on paper, there's space down
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  • #98,737
  • Jul 18, 2011 10:31am Jul 18, 2011 10:31am
Quoting halfstep
some of you guys took the trade on the eurusd pin bar, which doesn't show up on my chart at all, both my IBFX australia, and forex.com charts doesn't show pin bar, what time zone you guys used for the pin bar to show up?

When I use to trade with a trading group, GMT timeframes were supposed to be the best one, especially when using it to calculate daily and weekly pivots.
If you are referring to the pinbar from Thursday, it showed up on brokers with a new york close, like FX pro and FXDD.
  • #98,738
  • Jul 18, 2011 10:53am Jul 18, 2011 10:53am
Quoting mbqb11
Hey E

I will enter my trades around 5pm est ny time on a sunday when most brokers "open".

Best
Mike
Thanks Mike
  • #98,739
  • Jul 18, 2011 10:57am Jul 18, 2011 10:57am
A simple PB trade i took today. I was waiting for price to hit the TL and resistance area (one can add an open gap close to the confluence) but m30 pb and 1.1500 (well defined support on lower tf) was good enough for short entry. Full profit taken at 1.1485.
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  • #98,740
  • Jul 18, 2011 11:11am Jul 18, 2011 11:11am
I have awaiting buy limit orders @ 1.5950. Very strong, confluenced support and HH made on strong buying. One can add weekly buob as a nice addition
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