james16 Chart Thread

Quoting mbqb11

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nice big buob swing low. Pitbull no?

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Quoting greenpath

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Mike, What do you mean by Pitbull? Also someone in another post mentioned H&S, and I'm not sure what that means either.

I'm not yet looking at 1h charts, but I understand the setup. With a signal bar that large how do you handle setting a Stop?

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Quoting mbqb11

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nice big buob swing low. Pitbull no?

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Quoting nwo-trader

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Quick question for you Mike, if I may. I'm new to the lower timeframe charts and just looking to understand your thought process on these time frames. I know you typically like to see a break of the trigger bar on the following bar, as a measure of momentum. I see your order was not triggered until two bars after your trigger bar, and was just wondering if this is one of those scenarios where you gave it a bit longer to execute?
Very much appreciate your work and dedication, sir.

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Quoting mbqb11

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Hey NWO

Yes I pretty much treat all timeframes the same. So I post the 1hr here for an example of learning(since markets were slow last week). But my approach is generally the same

In this case price did break the high of the BUOB on the next bar. For this reason I left my order in place since my buffer was higher. To me the trade was very much still in tact and unchanged.

Hope that helps
Mike

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Quoting mbqb11

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Hey GP

The pitbull is in reference to a nice big bar. James made this post long ago
http://www.forexfactory.com/showthre...40#post2913840

H&S is just the short hand for Head and Shoulders pattern

As for stop losses it's the same for me on most trades. My stop started below the low of the bar and has since been reduced. Have you read about position sizing? Do you understand MM that is crucial. If not I will link you to some stuff to get started

Best
Mike

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Quoting Rust

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Hey nc ,
it seems you picked the area to watch for a price action right. But this is not a pinbar. A true pinbar it has to close within the previous bar low.

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Quoting greenpath

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Thanks Mike, I think I have a pretty good understanding of position sizing and MM in general, but I'm always looking to improve and learn more. Basically you determine your risk, say 3%, prior to your entry and then figure your position sized based on where you want to set your stop.

So if 3% risk equals $100 and your stop were to be set at 50 pips, you would enter a position where the pip value is $2.00. If your stop is 20 pips you would enter a position with a $5.00 pip value. Are we on the same page here?

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Quoting nwo-trader

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Thank you Mike, definitely helps, and my apologies to my eye visually at least it looked like it hadn't triggered on the following bar. If it hadn't triggered I assume you would have cancelled the order as you usually do?
Also sorry for all the questions but where are you looking at for a target? I know your usually wary of trading into brn's, the 1.25 in this instance.

Looks like it could turn into a decent BUOB on the daily tf.

Yankees better watch out for the Jays this week. LOL

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Quoting 0421

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Chart:

http://i49.tinypic.com/347xpw2.jpg

THX.

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Quoting 0421

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chart:

http://i50.tinypic.com/2hhha2o.gif

and we heve here 50% fibo...what do You think about this situaction??

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Quoting mbqb11

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I wouldn't really say that upper trendline plays a significant role. It's a bit too curve fitted for me 04.

we are more or less in a box right now


Best
Mike

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Quoting TaichiFund

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Dear James,

I am a new comer on Forex Trading, and your threads are really helpful.
Thank you so much for your sharing!

BR,
MAXWELL

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Quoting 0421

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Oki, I understand. Do You play breakout from this box? ...

http://i48.tinypic.com/29x7pdk.jpg

THX

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Quoting 0421

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Oki, I understand. Do You play breakout from this box? ...

http://i48.tinypic.com/29x7pdk.jpg

THX

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