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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

  • #123,241
  • Feb 13, 2013 1:03pm Feb 13, 2013 1:03pm
Quoting LamerTrader
Thank you - but i couldnt download it... Same problem as meshka had.
I think I know where the problem lies. Rapidshare changed its terms of use, so if Mike uses free Account then public traffic is only 1GB/day. Once is this traffic depleted, you can download this file after 24 hours when traffic is reset
  • #123,242
  • Feb 13, 2013 3:36pm Feb 13, 2013 3:36pm
Hey Mike, you recently said you watch over 80 pairs.
Do you trade for instance "all the pairs in XXX broker"?? In that case it would be great to know which broker so I can begin to demo trade on it.
For instance, Alpari has 57 currency pairs... could anyone point me to a good mt4 server where I could trade on demo 80+pairs?
I know the "which forex broker" question is too extense to ask it here, but just for themo anything would be good as long as it gives normal feeds..
Thank you.
  • #123,243
  • Feb 13, 2013 5:16pm Feb 13, 2013 5:16pm
Quoting Armagedoom
Hey Mike, you recently said you watch over 80 pairs.
Do you trade for instance "all the pairs in XXX broker"?? In that case it would be great to know which broker so I can begin to demo trade on it.
For instance, Alpari has 57 currency pairs... could anyone point me to a good mt4 server where I could trade on demo 80+pairs?
I know the "which forex broker" question is too extense to ask it here, but just for themo anything would be good as long as it gives normal feeds..
Thank you.
try oanda.com, fxpro.com or http://www.citifxpro.com - they have more pairs than u need
all is eternal - this is good news for people who loves bad news
  • #123,244
  • Feb 13, 2013 5:51pm Feb 13, 2013 5:51pm
Quoting Magestic
I lost that GBPUSD trade as PB triggerd. I think that it could go both ways on the news. It went against.
This is where we learn about Location, Location & Location being Equally as important as the PA itself.

Mike's boxes sure help to keep us focused on the bigger picture, as they say, " if in doubt. zoom out". How true it is.
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  • #123,245
  • Edited 9:11pm Feb 13, 2013 8:29pm | Edited 9:11pm
Quoting Magestic
I lost that GBPUSD trade as PB triggerd. I think that it could go both ways on the news. It went against.
Well I lost the trade my self and already put a sell stop order for that bearish engulfing bar.

All I want to say is that don't beat yourself up when you lose a trade, cause if you use the same strategy who has a good profitable rate then you need to know if the next trade could be a winner and it would take care of your lose.

I've watch mike videos and although his prediction is correct, I have no way to even considered put my buy stop so high as mike did.
If I have follow mike advice to put the stop so high or not taking the trade then it would destroyed all I have know about my trading system cause my system tell me to buy...

All you can do is to trust and believe your trading system.

My bottom line is that, don't trust other people analysis but learn from them and see if you could use that as an addition to your trading system or not.
cause when you start relying and take trade from other people analysis then you are doomed to fail cause it will mess up your psychological mind.

As for the pinbar it self, I've taken it and loss it but I never regretted it. It's a lost trade for me and trader loss all the time...

Once I've heard, When you start to not discipline to follow your rules then you have no rules at all...

cheers...
  • #123,246
  • Feb 13, 2013 10:21pm Feb 13, 2013 10:21pm
Quoting gajebo
Well I lost the trade my self and already put a sell stop order for that bearish engulfing bar.

All I want to say is that don't beat yourself up when you lose a trade, cause if you use the same strategy who has a good profitable rate then you need to know if the next trade could be a winner and it would take care of your lose.

I've watch mike videos and although his prediction is correct, I have no way to even considered put my buy stop so high as mike did.
If I have follow mike advice to put the stop so high or not taking the trade then...
My frustration is that I didnt replaced my SL to the left lows. I didnt take a full bar loss, but I had an alarm on that previous lows. The move was so fast that when I turned on my mobile MT4 the price was already 40 pips lower.
If not up, then down, otherwise sideways :-)
  • #123,247
  • Edited Feb 14, 2013 10:10pm Feb 13, 2013 11:03pm | Edited Feb 14, 2013 10:10pm
Hello, colleagues, does this one grab your attention?
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If not up, then down, otherwise sideways :-)
  • #123,248
  • Feb 13, 2013 11:15pm Feb 13, 2013 11:15pm
i expected this cable move last week..........funny pair.......
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  • #123,249
  • Feb 14, 2013 6:33am Feb 14, 2013 6:33am
Hey guys,

I wanted to point out EURUSD setup that formed yesterday. Small but coerent PB at swing point+meanvalue with rejection of BRN

Best,
Cry
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  • #123,250
  • Feb 14, 2013 6:58am Feb 14, 2013 6:58am
Quoting meshka
here it is http://we.tl/GvAjdaPTVo
Thanks guys sorry I wasn't aware that would be an issue. Don't worry once the new site is launched we will have much easier ability to upload files for guests as well and I look forward to doing that more for you all

Hopefully that video helped and we can see the breakout now occurring from the weekly (I believe I spoke about that as well)

Best
Mike
  • #123,251
  • Feb 14, 2013 7:09am Feb 14, 2013 7:09am
Quoting Armagedoom
Hey Mike, you recently said you watch over 80 pairs.
Do you trade for instance "all the pairs in XXX broker"?? In that case it would be great to know which broker so I can begin to demo trade on it.
For instance, Alpari has 57 currency pairs... could anyone point me to a good mt4 server where I could trade on demo 80+pairs?
I know the "which forex broker" question is too extense to ask it here, but just for themo anything would be good as long as it gives normal feeds..
Thank you.
Thanks again Meshka for filling in for me while I was gone! Much appreciated buddy!

Yes I think fxpro is a good DEMO broker to watch a lot of pairs. Oanda is great too. I don't trade with FXpro but it is my main charting feed as it has the 5pm close and most of the FX pairs I trade.

If you have more questions let me know
Mike
  • #123,252
  • Feb 14, 2013 7:58am Feb 14, 2013 7:58am
massive beob I took on a retrace near $100 mark got to breakeven today aiming a bit lower here
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  • #123,253
  • Feb 14, 2013 8:22am Feb 14, 2013 8:22am
Hi Mike,

Sorry for the late reply as I have been away celebrating Chinese New Year. Thank you for your input from the previous post.

I'm currently in a trade which I think is a good setup. I will be taking partial profit from the 1.32 RN and hope that it can reaches the 1.275 RN.

There's another breakout which I'm currently looking at.

Happy trading,
Kenny
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  • #123,254
  • Feb 14, 2013 9:13am Feb 14, 2013 9:13am
Quoting ken.b
Hi Mike,

Sorry for the late reply as I have been away celebrating Chinese New Year. Thank you for your input from the previous post.

I'm currently in a trade which I think is a good setup. I will be taking partial profit from the 1.32 RN and hope that it can reaches the 1.275 RN.

There's another breakout which I'm currently looking at.

Happy trading,
Kenny
Hey Kenny

Happy new year buddy

Here were my charts on the eur/aud I sent to the group from feb 11th first then today


Best
Mike
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  • #123,255
  • Feb 14, 2013 10:41am Feb 14, 2013 10:41am
Hi!

Great EURAUD analysis Mike. What do you think about GBPAUD? There is some space on left, to the FTA if this trendline is broken. We have also BRN of 1.5000 here.
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  • #123,256
  • Feb 14, 2013 1:13pm Feb 14, 2013 1:13pm
Hey, interesting area on GBPCAD.
This pair is now in solid 3 years chop. Price is now approaching the bottom of the chop, so let's see what happens. I wait for some nice PA here.
I do not like to trade this pair on Daily- it has too many wicks for my liking, but H4 looks much smoother. Maybe Weekly can do it, too.
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  • #123,257
  • Edited 2:00pm Feb 14, 2013 1:46pm | Edited 2:00pm
opinions for this pinbar?(if it closes this way)
edit:well it gained 50 pips in 1 min so it didn't close as pin but anyway...
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  • #123,258
  • Feb 14, 2013 2:33pm Feb 14, 2013 2:33pm
Hey guys thx for the answers.
I took those two trades (in demo, I just beggining). Could you please comment on them?

First one, DBLHC (Huge higher close btw, 5th bar from the last one) + breakout + close over the breakout.
Entrance after the break of that bar. I still have second thoughts if its a DBLHC or the lows arent as close together as they should for being that.
Is a good PA bar + breakout of a TL/S/R + Close over the breakout good enough to enter or is it better to always wait for retracement (even if the breakout happens with a PA bar)?
http://i.imgur.com/Ifim3uN.png

Second one, again Breakout through a huge BuOB, closing upper than both Round Number and Ressistance. Entrance at the break of the BuOB.
http://i.imgur.com/nmWsNdl.png

Thanks in advance!
  • #123,259
  • Feb 14, 2013 5:15pm Feb 14, 2013 5:15pm
Hey everybody, just dropping in to say hi! I hope everyone is doing great here, it's been a while since I've logged on to see ya. Still doing what we've always done and been taught to do. For the new guys, stick to the basics. It will carry you far in this business. Mike, Jim and Jim will lead you to the promised land. Just apply that and you'll be living good. Big Mike, what's new buddy?

I do plan on becoming more active at some point down the road, just found that once I left the forum for a bit, price decided to follow me to a tee. I'll be here to help from time to time.
I dream, therefore I become.
  • #123,260
  • Feb 14, 2013 8:24pm Feb 14, 2013 8:24pm
Quoting mike w
Hey everybody, just dropping in to say hi! I hope everyone is doing great here, it's been a while since I've logged on to see ya. Still doing what we've always done and been taught to do. For the new guys, stick to the basics. It will carry you far in this business. Mike, Jim and Jim will lead you to the promised land. Just apply that and you'll be living good. Big Mike, what's new buddy?

I do plan on becoming more active at some point down the road, just found that once I left the forum for a bit, price decided to follow me to a tee. I'll...
hey Mike!

Long time man

It'll be awesome to have you back in full throttle!

g.
I believe . . .
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