i had 1.6460-70 marked in my chart (as potential minor PPZ), i didnt think it would hold. (price bounced there)
price wants to end the week with a bullish note. let's see
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedHey Jcpfx, did you weather the storm on the EUR/JPY H4 BEOB from yesterday? It's currently at its first traffic area (123.90). It was a tough one to manage, but it got there.
I'm currently short GBP/JPY H4 BEOB on a small retrace (see chart). Looking good so far...
-- DannyIgnored
DislikedDan
not sure what you mean by 'never trade aganst an ib4' - it can break one way or the other (or both). Can you clarify this, thanks. I know its probably simples but I am a simple guy!!Ignored
Dislikedthat i4b already broke north. granted I already took full profit, but looking at a weekly chart is the best way to get a "feel" for what to expect in the coming week!
I feel like I'm turning into james/jarroo these days. I get real nervous for you guys trading 4hr, and sometimes even 1hr charts
if I'm trading a 4hr chart I need a MASSIVE bar to take a trade, and 1hr charts are disaster unless you are very experienced. There's so much noise in those smaller T/Fs. You are better off to trade a daily chart touch trade than a 1 hr price...Ignored
DislikedThanks dan, you have clearly explained it. I agree with you about shorter TFs_ I am doing my damndest to stick to daily but it is difficult sometimes when you see guys on here taking winning trades on 4h, etc!!!Ignored
DislikedDan (and anyone as well who knows), please help shed more light on this "ixb" stuff...I once came across it somewhere in the thread but was focusing mainly on the basics of Jame16.Now I believe I can grasp it if taken through.ThanksIgnored
DislikedOne time Mike laid something out that woke me up.
If you make 1%/week on average, that's 50%/year average.
That is HUGE.
You do not need to waste your time on 4hr charts to achieve such a goal as that.
Just take A+ daily/weekly bars and watch your account grow.
Or take a bunch of 1 hr bars and watch your account shrink.
I used to keep all my charts on the 4hr time frame as my "standard view"....Ignored
Dislikedthis is all I can give right now, I'm on my way out for the day.Ignored
Dislikedactually, it's 67%. That's how compounding works. 2% a week is 180% compounded...Ignored
DislikedHey Danny,
Yes, I did weather the storm, I set my profit target at 124.34, and was out before bedtime, which I likeIgnored
Disliked... I'm currently short GBP/JPY H4 BEOB on a small retrace (see chart). Looking good so far...Ignored
DislikedI think I'm starting to get a hang of the J16 concept, but could someone...Ignored
DislikedLets see if i finally get this,
What u guys think of this 4hr eur-usd pin bar?, well, open is in the range of previous bar, but close isnt. In the good side, location looks good, we have divergence on RSI, and i think we have what Mike say is space.
Any feedback would be appreciated
Regards
Hector
PD: Demo trade is what u look on the chart, hasnt been triggeredIgnored
DislikedHey Hector
This would be a nice location if the pin was stronger but remember the pinbar must close within the prior bar to be considered a pinbar j16 style
Best
MikeIgnored