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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

  • #108,461
  • Mar 6, 2012 4:06am Mar 6, 2012 4:06am
Quoting khalidhassan
would you please attach a link for the page in which i may find more details about Mike's preemptive break ...?????
Quoting mbqb11
Hey Heeb

It's basically just a breakout to watch depending on how you like to play them

Here was my chf/jpy

http://www.forexfactory.com/showthre...21#post5432221

And examples of breakouts you can look for here as per out convo can you spot which of the two this looks like

http://www.forexfactory.com/showthre...72#post5426872


Best
Mike
Some of it. You can find most by going to Mike's profile. I'll send more links later. Am really in a hurry now. Sorry.
SNR with Price Action...
BitCrossNG Return Today: na
  • #108,462
  • Mar 6, 2012 6:05am Mar 6, 2012 6:05am
Quoting james16
cad
Hope you took your profits there Or you may have just gave it all back to me..

BUY 9906 - TP - 1.00

lowest draw down possible please.
  • #108,463
  • Mar 6, 2012 6:13am Mar 6, 2012 6:13am
Anyone read this story;

http://www.zerohedge.com/news/fx-tra...ops+to+zero%29
lowest draw down possible please.
  • #108,464
  • Mar 6, 2012 6:47am Mar 6, 2012 6:47am
Quoting mbqb11
sure is FX, similar concept to the gbp/nzd I am in. It's rocketing higher
[ahem] Which is the one i posted here!

http://www.forexfactory.com/showthre...46#post5421946
  • #108,465
  • Edited 7:28am Mar 6, 2012 7:11am | Edited 7:28am
Quoting ehrek
Anyone read this story;

http://www.zerohedge.com/news/fx-tra...ops+to+zero%29
http://www.zerohedge.com/news/myster...-his-name-hope

Here he is in action;
Inserted Video


You can tell this is a BS publicity stunt. He has something to sell.

Genius plan though. Worldwide coverage and it only cost him 250k!
  • #108,466
  • Mar 6, 2012 7:21am Mar 6, 2012 7:21am
Quoting beebolbod
[ahem] Which is the one i posted here!

http://www.forexfactory.com/showthre...46#post5421946
And, rather annoyingly, due to a nasty flu virus last week i missed my entries on these.
Fortunately i was in a few other trades which are doing rather well, which is easing the pain there (gold notably - god i love trading that).

The GBPAUD will be good to watch at the approaching BRN.
  • #108,467
  • Mar 6, 2012 7:47am Mar 6, 2012 7:47am
next 1.56500?
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  • #108,468
  • Mar 6, 2012 8:03am Mar 6, 2012 8:03am
Quoting samurai77
Dear Jim, Mike and others,

I have just registered on forexfac to thank you all.

I am new to forex (about 4 months in it, demo and lost on a mini-account). I postponed real trading and now doing research all over again. Price action caught my attention and I think it's the way to go for this business. And I am really glad I found this thread.

I am reading the summary of the thread and starting to read from page one. Really think that I am looking at GOLD.

Thank you all and hope to learn a lot from you.

John
Welcome John glad to have you hanging out
  • #108,469
  • Mar 6, 2012 8:13am Mar 6, 2012 8:13am
Just a question for when I eventually go live. Is there a good strategy to choose what currency you hold your account in, or should you have a few accounts in different currencies?

Cheers
Rian
  • #108,470
  • Mar 6, 2012 8:16am Mar 6, 2012 8:16am
Quoting riandouma
Just a question for when I eventually go live. Is there a good strategy to choose what currency you hold your account in, or should you have a few accounts in different currencies?

Cheers
Rian
I guess whichever currency is showing bullish Price Action on the monthly chart??

Seriously though I don't think it matters. I think most people keep their accounts in their home currency. Assuming your broker gives you an option

Jonny
  • #108,471
  • Mar 6, 2012 8:18am Mar 6, 2012 8:18am
If this can close at 1.2990 ish we have a great looking setup....

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  • #108,472
  • Mar 6, 2012 8:19am Mar 6, 2012 8:19am
Keeping this one on high alert. If pb closes bearish, will be very interested. Formed at 50% retrace on two moves, 1.3 is above, and tip has hit a PPZ. Only thing is both ema's are below.
Would this make it a B setup and not an A setup Mike, would I be correct in saying.

http://my.jetscreenshot.com/11256/m_...kuvl-113kb.jpg

http://my.jetscreenshot.com/11256/m_...zwb3-103kb.jpg
  • #108,473
  • Mar 6, 2012 8:28am Mar 6, 2012 8:28am
Hi,Mike! How about buying 0.91624? It would be a good deal?
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  • #108,474
  • Mar 6, 2012 8:33am Mar 6, 2012 8:33am
Quoting brzvadeg
Hi,Mike! How about buying 0.91624? It would be a good deal?
Attachment

Attachment
Hey B

It would have been. I don't trade much like that my touch trades are for much stronger areas that have usually been around for awhile. This style is just a bit more aggressive but you can certainly get some tight stops.

Best
Mike
  • #108,475
  • Mar 6, 2012 8:34am Mar 6, 2012 8:34am
Quoting heebbyjeeby
Keeping this one on high alert. If pb closes bearish, will be very interested. Formed at 50% retrace on two moves, 1.3 is above, and tip has hit a PPZ. Only thing is both ema's are below.
Would this make it a B setup and not an A setup Mike, would I be correct in saying.
Hey H

It would need to close very strongly bearish and then still it would be fighting the recent bullish surge which means the FTA(first trouble ares) become supremely important. Overall also don't forget that we are consolidating down very tight. See weekly chart I posted a few times for the wedge formation

http://www.forexfactory.com/showthre...81#post5405081

Best
Mike
  • #108,476
  • Mar 6, 2012 8:36am Mar 6, 2012 8:36am
Quoting mbqb11
some more updates

these really took off

Locked in more profit on both and will continue to look to tighten up profit as we have went to the projections pretty much on both patterns.

Best
Mike
updated charts

Stopped out on gbp/nzd after price hit the full projection off the H&S formation. Pretty cool. I moved stop up much higher just to give it a chance to try to blow through.

NZD/HKD still going


Best
Mike
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  • #108,477
  • Mar 6, 2012 8:42am Mar 6, 2012 8:42am
Quoting mbqb11
Hey B

It would have been. I don't trade much like that my touch trades are for much stronger areas that have usually been around for awhile. This style is just a bit more aggressive but you can certainly get some tight stops.

Best
Mike
Thank you for your reply. I agree that aggressive. 4 hours roll back the better or more reasonable daytime?
  • #108,478
  • Mar 6, 2012 9:01am Mar 6, 2012 9:01am
Quoting beebolbod
If this can close at 1.2990 ish we have a great looking setup....

Attachment
I m with you beebolbod..i would say about 80 pips to first target...

let us wait and watch...
  • #108,479
  • Mar 6, 2012 9:27am Mar 6, 2012 9:27am
Quoting MtDarkness
From one newbie to another, I will tell you that if you are looking to win at trading, you officially hit the jackpot. This method is no holy grail, but from what I've seen, it's as close as you can get. The money/risk management skills I learned here alone are worth it, much less the methods themselves. It does require discipline, effort, and more discipline, (did I mention that it requires a bit of discipline?) but I think we can all agree that it is worth it to be able to consistently succeed in our trading endeavors. So, welcome, John. I hope...
Thank you Jeremy. I spent the last weekend reading the thread summary. I got your point that there is no such thing like Holy Grail in trading.

When I found this price action stuff, it's like finding HOME.

I understand that I need to learn a lot, and believe that money will come, but firstly everything must be properly set up.

Cheers,

John
  • #108,480
  • Mar 6, 2012 9:29am Mar 6, 2012 9:29am
Quoting mbqb11
Welcome John glad to have you hanging out
Thanks Mike.

All the best,
John
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