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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

  • #118,261
  • Sep 12, 2012 1:29pm Sep 12, 2012 1:29pm
This is so Lame ... That is thrice this week ... Even with buffer it would not have been activated ... Now who is to say that whole bunch of big orders did not get picked up and when mine is activated , It won't be a loss ...
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Human
  • #118,262
  • Sep 12, 2012 1:32pm Sep 12, 2012 1:32pm
Mike and the other senior guys can I ask what you think of this GBPCAD PB from yesterday please. I'm still trying to get my head around double bar, double bottom lows, would this qualify or do the lows have to be closer in days and to the pip? Also would this be a trade that you'd take or would it be a case of leaving alone as its in traffic with a lot of overhead resistance close by.

Thx
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  • #118,263
  • Sep 12, 2012 1:41pm Sep 12, 2012 1:41pm
Hi Jim, Chanya

Does this look good for a short setup?
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Fall seven times, stand up Eight! #GGMU
  • #118,264
  • Sep 12, 2012 1:45pm Sep 12, 2012 1:45pm
Mike fast Q do you ANYtime use stop,limit orders? I cant remember any screenshot with waiting orders.. or always PA confirmation?
  • #118,265
  • Sep 12, 2012 1:59pm Sep 12, 2012 1:59pm
Quoting vickym
Hi Jim, Chanya

Does this look good for a short setup?
Based on what ???
Human
  • #118,266
  • Sep 12, 2012 2:07pm Sep 12, 2012 2:07pm
Quoting Eio
Mike and the other senior guys can I ask what you think of this GBPCAD PB from yesterday please. I'm still trying to get my head around double bar, double bottom lows, would this qualify or do the lows have to be closer in days and to the pip? Also would this be a trade that you'd take or would it be a case of leaving alone as its in traffic with a lot of overhead resistance close by.

Thx
to much traffic for me, very choppy at the moment, its a pass...look for clear swing high/lows for high probability trades. there so much opportunities out there
  • #118,267
  • Sep 12, 2012 2:10pm Sep 12, 2012 2:10pm
Quoting Eio
Mike and the other senior guys can I ask what you think of this GBPCAD PB from yesterday please. I'm still trying to get my head around double bar, double bottom lows, would this qualify or do the lows have to be closer in days and to the pip? Also would this be a trade that you'd take or would it be a case of leaving alone as its in traffic with a lot of overhead resistance close by.

Thx
Hey Eio

Here was my post from yesterday see if this helps a bit

http://www.forexfactory.com/showthre...54#post6003554

Best
Mike
  • #118,268
  • Sep 12, 2012 2:19pm Sep 12, 2012 2:19pm
Quoting bullzeye
SILVER

looks interesting for me, IB and a small pin ...maybe a reversal,i will wait for the next candle

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SIVER

oh man, what a crazy bar ... i will try to play a break down of this BEOB

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  • #118,269
  • Sep 12, 2012 2:25pm Sep 12, 2012 2:25pm
Quoting bullzeye
SIVER

oh man, what a crazy bar ... i will try to play a break down of this BEOB

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SL will be deathly
  • #118,270
  • Sep 12, 2012 2:35pm Sep 12, 2012 2:35pm
Quoting tinkerbelle
Mike fast Q do you ANYtime use stop,limit orders? I cant remember any screenshot with waiting orders.. or always PA confirmation?
Hey T

Stop orders are one type of order(like market orders, or buy stop/sell stops)

Limit are separate orders


I use both kinds of orders. I believe touch trading with limit orders is more advanced and tend to keep that separate from this thread which I believe is important to keep the basics and stress those to all the new traders

I tend to use stop orders the most though in FX markets

Best
Mike
  • #118,271
  • Sep 12, 2012 2:46pm Sep 12, 2012 2:46pm
Thanks Mike and Bullzeye, not quite sure how I missed that post.
  • #118,272
  • Sep 12, 2012 2:52pm Sep 12, 2012 2:52pm
Quoting mbqb11
Hey T

Stop orders are one type of order(like market orders, or buy stop/sell stops)
...
Mike
poorly expressed my bad i thought buy limit, sell limit ..
  • #118,273
  • Sep 12, 2012 3:31pm Sep 12, 2012 3:31pm
Quoting mbqb11
Hey T

Stop orders are one type of order(like market orders, or buy stop/sell stops)

Limit are separate orders


I use both kinds of orders. I believe touch trading with limit orders is more advanced and tend to keep that separate from this thread which I believe is important to keep the basics and stress those to all the new traders

I tend to use stop orders the most though in FX markets

Best
Mike
Some time ago (not so long) I just couldn't understand limit orders - I mean, there were for me ridiculously stupid...buying when something going down!!?? Come on!! Now I can't imagine trading without it How man can change?
  • #118,274
  • Sep 12, 2012 3:34pm Sep 12, 2012 3:34pm
I have a EUR NZD trade in Place and HUGE NZD news are about to come out ... Can anybody with the knowledge of fundamentals tell me am I about to be demolished ???
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Human
  • #118,275
  • Sep 12, 2012 3:37pm Sep 12, 2012 3:37pm
Tonight i'm audcad guy...
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  • #118,276
  • Sep 12, 2012 3:41pm Sep 12, 2012 3:41pm
Quoting Chanya
I have a EUR NZD trade in Place and HUGE NZD news are about to come out ... Can anybody with the knowledge of fundamentals tell me am I about to be demolished ???
I think News/Data is just a way the Big Boys create liquidity for themselves and drive the price to where their orders are. Then again, I may be paranoid...
I don't need easy. I just need possible.
  • #118,277
  • Sep 12, 2012 3:47pm Sep 12, 2012 3:47pm
Quoting Chanya
I have a EUR NZD trade in Place and HUGE NZD news are about to come out ... Can anybody with the knowledge of fundamentals tell me am I about to be demolished ???
One can never be sure but playing with it while IR statement is just ahead during low liquidity time is not the safest game
  • #118,278
  • Sep 12, 2012 3:48pm Sep 12, 2012 3:48pm
Quoting DaGrizlyBull
Hey Mike. I don't understand why have you bought into such a strong level. I looked at the daily and I see PPZ with some LCS/HCR. Also, I'm in a anti dollar mentality right now. USDIX and USD/XXX are kind of falling/breaking lows across the board. Am i missing a piece of the puzzle?

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Mike bets on the divergence, which looks very strong here. You bet on the previous support, now expecting to turn resistance. I think both points are logical. That's why i decide to stay out
  • #118,279
  • Sep 12, 2012 4:29pm Sep 12, 2012 4:29pm
Quoting vickym
Just realized we are neighbors. I'm from India. Nice to know you buddy
I am visiting India in Deecember to watch cricket!!
  • #118,280
  • Sep 12, 2012 4:30pm Sep 12, 2012 4:30pm
An amazing trade formation ... All I have to do is wait for it to BO ...
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Human
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