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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

  • #113,281
  • Jun 17, 2012 8:59am Jun 17, 2012 8:59am
I did not took these trades but I cannot figure them out even in a back testing either ..... Jarroo , Help Please ....
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Human
  • #113,282
  • Jun 17, 2012 9:09am Jun 17, 2012 9:09am
PLEASE be careful today folks. I have no idea the volatility that we will actually see but don't just go clicking buttons if there is a lot of action. It will end in pain for most of you.

I had to say it though. BE CAREFUL!

Hope everyone had a nice weekend and hopefully it's good volatility with opportunities not just crazy spikes lol
Mike
  • #113,283
  • Jun 17, 2012 9:13am Jun 17, 2012 9:13am
Quoting mbqb11
PLEASE be careful today folks. I have no idea the volatility that we will actually see but don't just go clicking buttons if there is a lot of action. It will end in pain for most of you.

I had to say it though. BE CAREFUL!

Hope everyone had a nice weekend and hopefully it's good volatility with opportunities not just crazy spikes lol
Mike
i will enjoy the action and enjoy it with some cheese nachos
Hero calls followed by margin calls...
  • #113,284
  • Edited 9:18am Jun 17, 2012 9:15am | Edited 9:18am
Quoting Greenhaze
I dont know if its any help or not but from my experience its more safe to look for this PBT patterns after prolonged periods of consolidation. Those "overextended" moves above PPZ lines are often ending as fakeouts....

BTW i hope i've got your chart right
is this better?
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  • #113,285
  • Jun 17, 2012 9:23am Jun 17, 2012 9:23am
Quoting Chanya
Thanks Mike for your response ... So , you think this one is going to break to the upside too ??? Whats your bet on this one ???
yes in general I would look at that just like the aud/usd one as well. But of course with greek elections I think there will be lots of gaps, wide spreads and charts will be a bit wacky for a bit. But maybe not too!


Mike
  • #113,286
  • Jun 17, 2012 9:41am Jun 17, 2012 9:41am
Quoting Variance
is this better?
From this perspective i would like the support to be much stronger visually.
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  • #113,287
  • Edited 12:55pm Jun 17, 2012 9:43am | Edited 12:55pm
Quoting Greenhaze
From this perspective i would like the support to be much stronger visually.
ok, enhanced and ready
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  • #113,288
  • Jun 17, 2012 2:21pm Jun 17, 2012 2:21pm
Does anybody trades "HUF" , "PLN" or "SEK" crosses ??? I have never traded them ... They move hundreds of pips on hourly basis ... I ask this because I want to know that is their pip value same as other major crosses ???
Human
  • #113,289
  • Jun 17, 2012 2:24pm Jun 17, 2012 2:24pm
Quoting Chanya
Does anybody trades "HUF" , "PLN" or "SEK" crosses ??? I have never traded them ... They move hundreds of pips on hourly basis ... I ask this because I want to know that is their pip value same as other major crosses ???
Yes I do C, It's all relative, it's just how they are valued. That's why it's important not to look at it as just pips, but pips and the value you place on each pip(position size)


if there is a particular example you want to know just let me know

example a usd/sek at 100,000 units is equivalent to $1.14 per pip

Best
Mike
  • #113,290
  • Jun 17, 2012 2:30pm Jun 17, 2012 2:30pm
Quoting mbqb11
Yes I do C, It's all relative, it's just how they are valued. That's why it's important not to look at it as just pips, but pips and the value you place on each pip(position size)


if there is a particular example you want to know just let me know

example a usd/sek at 100,000 units is equivalent to $1.14 per pip

Best
Mike
I was thinking as a point of view from a trader who trades small accounts ... They tend to over trade because generally , they are not happy with the returns .... Look at the chart below and an example .... Its a daily USD SEK chart ...
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Human
  • #113,291
  • Jun 17, 2012 2:32pm Jun 17, 2012 2:32pm
This kind of stuff rarely Happens on major pairs , and another negetive point , they tend to chop around more because of the volatility .... Just a thought ...

Now in these pairs , no matter what value they place on the pip , they will be happy mostly because of massive average per trade return ... Assuming one knows how to trade first and manage also ....
Human
  • #113,292
  • Jun 17, 2012 2:32pm Jun 17, 2012 2:32pm
Quoting Chanya
I was thinking as a point of view from a trader who trades small accounts ... They tend to over trade because generally , they are not happy with the returns .... Look at the chart below and an example .... Its a daily USD SEK chart ...
Hey C

BUt that move is still going to be relative to your position size so it becomes just like any other chart. That's the beauty of trading and more importantly trading with proper Money Mgmt.

So you could think of that as say 400 pips if it makes you understand what I mean, that's just how the currency is structured. So when I place my trade my risk is the same on that as any other trade. THat's why pips really don't matter it's the pips in relation to the position size.

Hope that helps
Mike
  • #113,293
  • Jun 17, 2012 2:40pm Jun 17, 2012 2:40pm
Quoting mbqb11
Hey C

BUt that move is still going to be relative to your position size so it becomes just like any other chart. That's the beauty of trading and more importantly trading with proper Money Mgmt.

So you could think of that as say 400 pips if it makes you understand what I mean, that's just how the currency is structured. So when I place my trade my risk is the same on that as any other trade. THat's why pips really don't matter it's the pips in relation to the position size.

Hope that helps
Mike
and too make it easier to see. Gbp/usd on left usd/sek on right

BRNs are every "500" pips. So we can see these moves happen on all pairs. Again it's very important that everything is relative to the position size which will even the playing field.

I watch roughly 70 or so FX pairs for this reason cause a charts a chart

Best
Mike
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  • #113,294
  • Jun 17, 2012 2:47pm Jun 17, 2012 2:47pm
What a great tool tx to the person who made it...
I load it into all the pairs that i look at, and get alert when there is a pin or bearish outside /bullish outside bar..Thats all i trade.
Timeframe i have choosen is 4h and daily...
Attached File(s)
File Type: mq4 PriceAction AHA 0_2v2-mod.mq4   51 KB | 859 downloads
  • #113,295
  • Edited 3:52pm Jun 17, 2012 3:40pm | Edited 3:52pm
Quoting Chanya
Does anybody trades "HUF" , "PLN" or "SEK" crosses ??? I have never traded them ... They move hundreds of pips on hourly basis ... I ask this because I want to know that is their pip value same as other major crosses ???
Hey C,

have you ever looked at usd/nok
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  • #113,296
  • Jun 17, 2012 3:59pm Jun 17, 2012 3:59pm
Quoting Variance
Hey C,

have you ever looked at usd/nok

Checkout EURAUD on W1/D1. Prime example of breakout and retest setup.
  • #113,297
  • Edited 5:28pm Jun 17, 2012 4:10pm | Edited 5:28pm
Quoting Greenhaze
Checkout EURAUD on W1/D1. Prime example of breakout and retest setup.
just saw this one....

maybe it's better to sell on top to open IF we get a sharp rally....

nah.... both kinda raggy actually haha............................. i like the second chart better
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  • #113,298
  • Jun 17, 2012 4:28pm Jun 17, 2012 4:28pm
Quoting triger88990
uhhh I'm the first one: Happy B-day

again double party we are growing older together

it's sucks to add another year to my life I just wanna stay young forever
Happy Birthday man
  • #113,299
  • Jun 17, 2012 4:54pm Jun 17, 2012 4:54pm
Quoting triger88990
uhhh I'm the first one: Happy B-day

again double party we are growing older together

it's sucks to add another year to my life I just wanna stay young forever
happy bday buddy It's just a number(or so I tell myself)


Enjoy
Mike
  • #113,300
  • Jun 17, 2012 5:41pm Jun 17, 2012 5:41pm
I was expecting something , GAPS , like I had never seen before but nothing special .......... Same ol minor gaps ... Elections did not have much spontaneous effects I see !!! Last weeks gaps were bigger ...
Human
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