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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

  • #105,321
  • Dec 21, 2011 7:30am Dec 21, 2011 7:30am
It seems we got some nice christmas setups cant resist to trade them
AUDUSD and Cable is my favorite at the moment and USDCHF rejection of 0.9300 is pretty YuMMY also...
all is eternal - this is good news for people who loves bad news
  • #105,322
  • Dec 21, 2011 7:52am Dec 21, 2011 7:52am
Hi all,

I took this a few days back based on the highlighted 4H bar, good level, but knowing there would be work to do. SL was initially below the bar. Have gradually reduced positions at FTA etc.. and now have SL to above BE.

To put this in perspective I've gotten a lot more patient of late as opposed to the frantic lunatic I was who kept going down to lower time frames "hunting" for a set-up.

I knew it was not a "great" set-up but as opposed to setting it and 'hoping' I think I have managed it accordingly. This is the lowest time frame I have looked at for weeks since the light went on re longer time frames.

I will take one more lot off after I post this the last bearish outside bar concerns me.

Inching my way to patience.....
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD 4H.jpg Size: 62 KB
  • #105,323
  • Dec 21, 2011 8:42am Dec 21, 2011 8:42am
Quoting mmikemj
Hi All,
Just to say thanks to all for the great times over the last 4- 5 mths, I have really enjoyed learning and trading James way, and am oh so happy with the dailey weekly and mthly time frames. I used to trade 1 , 5 , and 15m
I hope to be able to contribute a bit next year.
I have finished trading for this year and leave for a holliday and a complete break , at a " smallish" coastal village called "Hermanus" about 150 KM east of Cape Town,, Thats close to the most southern tip of africa,, and its mid summer here with temperatures in...
Awesome Mike

Sounds awesome where you live would love to see some pictures

Happy holidays

Mike
  • #105,324
  • Dec 21, 2011 8:57am Dec 21, 2011 8:57am
Quoting FocusedonFX
Greetings. I'm short from the break of this pinbar. There's a round number off the tail, bearish close, room to move, a bit of fib confluence and obviously the nice pivot zone that I was watching. Just thought I'd share a trade I'm quite comfortable with taking, and happy to hear any contrary or supporting opinions about the trade.

Regards.


Attachment
nice Don

Just be cautious as we re-approach back into the parity level

Best
Mike
  • #105,325
  • Dec 21, 2011 9:18am Dec 21, 2011 9:18am
Mike are You still using MBTrading.com as Your broker?
all is eternal - this is good news for people who loves bad news
  • #105,326
  • Dec 21, 2011 9:21am Dec 21, 2011 9:21am
Quoting meshka
Mike are You still using MBTrading.com as Your broker?
Hey M

I use multiple brokers, they are one of them

But brokers I never recommend that's a personal thing so just do your own due diligence wherever you go

Best
Mike
  • #105,327
  • Dec 21, 2011 9:24am Dec 21, 2011 9:24am
oh no I dont need recomendations I use few too and one of them is MBtrading.com .... i use it few months, just want to know Your opinion about it or should I write You personal because of politics of forum ?
all is eternal - this is good news for people who loves bad news
  • #105,328
  • Dec 21, 2011 9:27am Dec 21, 2011 9:27am
Quoting meshka
oh no I dont need recomendations I use few too and one of them is MBtrading.com .... i use it few months, just want to know Your opinion about it or should I write You personal because of politics of forum ?
yeah you can always PM me about stuff I am always around

Mike
  • #105,329
  • Dec 21, 2011 12:11pm Dec 21, 2011 12:11pm
Quoting meshka
oh no I dont need recomendations I use few too and one of them is MBtrading.com .... i use it few months, just want to know Your opinion about it or should I write You personal because of politics of forum ?
Are you using metatrader (MT4) with this broker? If so you need to read this.

http://www.trade2win.com/boards/fore...s-setting.html

http://www.trade2win.com/boards/fore...setting-8.html
  • #105,330
  • Dec 21, 2011 12:21pm Dec 21, 2011 12:21pm
Quoting PIN Trader
Are you using metatrader (MT4) with this broker? If so you need to read this.

http://www.trade2win.com/boards/fore...s-setting.html

http://www.trade2win.com/boards/fore...setting-8.html
that stuff is only relevant towards a broker that wants to use shady tactics. IN that case they will do it no matter what platform they use. Most brokers offer a variety of platforms so it's simply a matter of putting their feed through the platform. IN that case it's the broker, NOT the platform. A broker that does this leaves themselves open for a variety of issues the biggest being anyone can just leave your broker and go to another one. It's too easy to get VERY accurate quoting in forex that it's only a matter of checking another feed.

I wouldn't get hung up on this stuff , do your due diligence on the broker and you will be fine. It's people who use some random mt4 broker that pops up over night in some random country that are going to feel the pain most of the times.

Best
Mike
  • #105,331
  • Dec 21, 2011 12:25pm Dec 21, 2011 12:25pm
Quoting mbqb11
that stuff is only relevant towards a broker that wants to use shady tactics. IN that case they will do it no matter what platform they use. Most brokers offer a variety of platforms so it's simply a matter of putting their feed through the platform. IN that case it's the broker, NOT the platform. A broker that does this leaves themselves open for a variety of issues the biggest being anyone can just leave your broker and go to another one. It's too easy to get VERY accurate quoting in forex that it's only a matter of checking another feed....
Of course others can do it too, that's clear, in fact FXCM and Gain Capital have both been fined for this type of thing (Gain used MT4, FXCM didnt I seem to recall). However there is no 'honest' reason for them to have this functionality in a platform.
  • #105,332
  • Dec 21, 2011 12:32pm Dec 21, 2011 12:32pm
Quoting PIN Trader
Of course others can do it too, that's clear, in fact FXCM and Gain Capital have both been fined for this type of thing (Gain used MT4, FXCM didnt I seem to recall). However there is no 'honest' reason for them to have this functionality in a platform.
a dishonest broker will be a dishonest broker, just as a person
an honest broker will be an honest broker

It's easy to lump everything , but mt4 is simply a platform for which a broker inserts their feed. A broker like MB trading, oanda etc have a variety of platforms but their feed remains the same.

MT4 platform was built long ago, brokers simply integrate it in. If there is something shady built in(an option, I didn't even read it cause it has no bearing for me) then it's up to the honesty of the broker(which their could always be ways they could be dishonest no matter what platform). If mine did it to me, I would take my business elsewhere and they would lose far more in the long run doing that. This is why broker talk is something I don't get into publicly much because people formulate opinions and it becomes very circular.

THis is the same thing for all things in life.

Just always do your due diligence(for all things)
Best
Mike
  • #105,333
  • Dec 21, 2011 12:58pm Dec 21, 2011 12:58pm
sorry to interrupt you guys...
another typhoon-related calamity hit my country


I haven't really been watching TV lately, but online news have been showing typhoon Sendong-related news daily, & that the death toll has continually risen.

so, i am appealing again for your help.

http://ph.news.yahoo.com/stormwatch/
http://ph.news.yahoo.com/blogs/the-i...095238780.html

Thank you very much! God bless!
  • #105,334
  • Dec 21, 2011 12:59pm Dec 21, 2011 12:59pm
Quoting supremeChaos
sorry to interrupt you guys...
another typhoon-related calamity hit my country


I haven't really been watching TV lately, but online news have been showing typhoon Sendong-related news daily, & that the death toll has continually risen.

so, i am appealing again for your help.

http://ph.news.yahoo.com/stormwatch/
http://ph.news.yahoo.com/blogs/the-i...095238780.html

Thank you very much! God bless!
take care of yourselves over there SC, you are all in our prayers to stay safe

Mike
  • #105,335
  • Dec 21, 2011 2:56pm Dec 21, 2011 2:56pm
Mike
Greetings
And a Happy Chanukah

What do you think about the PB in gold?

Should trade him tomorrow?

Many thanks in advance
  • #105,336
  • Dec 21, 2011 4:24pm Dec 21, 2011 4:24pm
Quoting Yehuda Sh
Mike
Greetings
And a Happy Chanukah

What do you think about the PB in gold?

Should trade him tomorrow?

Many thanks in advance
Hey Yehuda

We want to be careful with the location on this. See how price was not able to make a good swing high point. Instead it's coming off a sharp pullback. What happens then is if our location and confluence isn't as good as this case(except for the strong down move, but that isn't enough for me) we then are trading right into traffic. Our FTA then becomes essentially the previous low or the 1594 level which if we take a step back even more is going to be around the BRN of 1600. So in this case we could be trading right back into a lot of trouble

Happy holidays to you and yours too

Mike
  • #105,337
  • Dec 21, 2011 7:06pm Dec 21, 2011 7:06pm
Quoting supremeChaos
sorry to interrupt you guys...
another typhoon-related calamity hit my country
Stay safe my friend. Wishing the Philippines a swift recovery.
  • #105,338
  • Dec 21, 2011 7:12pm Dec 21, 2011 7:12pm
Hey S.C.
Hearts & Minds in Your Camp.
Just to let you know. We have a Cash Donation/Contribution box already being stuffed by Employees to assist in relief.
And that's from the Frozen Canadian North. I'm sure the World is doing the same.

Hang in there bud. We're with you.
I'd like to say "We Got Your Front" But I can't get there...

B
  • #105,339
  • Dec 21, 2011 8:43pm Dec 21, 2011 8:43pm
mbqb11, 5.25, Bemac & everyone else,
thank you very much!

Happy Holidays!
  • #105,340
  • Dec 21, 2011 8:48pm Dec 21, 2011 8:48pm
Quoting supremeChaos
...Happy Holidays!
We can Hope... & ... ____
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