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  #72002  
Old Aug 18, 2010 12:49am
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Quote:
Originally Posted by spookie94 View Post
Ok, on this example you would wait for the retrace to 1.5700 then enter for a short. It hit your retrace target, but would you enter right at 1.5700 (place a pending order) or would you like to see it come down a few pips first as a buffer?
I entered right at the 1.5700 with a 30 pip stop loss, no buffer. The 1.5700 retracement level looked clear to me as well as the quality of the setup.

If bearish PA at the 1.5700 at a lower time frame is presented, you can use a buffer there.


Darn it, I should have shown ertorque this 8 hour BEOB off the 1.5700. . . .which retraced to the previous bar Low . . of course . . .
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  #72003  
Old Aug 18, 2010 12:54am
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Originally Posted by Pinbar View Post
Oh, and Jarroo.

Thanks for the support while I was in that trade, I appreciate it.

I find it interesting that, after it stopped me out, I could think about it clearly and did not get into the REVENGE thing.

I mean, I know that it was only a tiny trade but, previously I had gotten into the mentality of the market being that, entity that ripped me off and it must have revenge reaped on it to teach it a lesson.

ROTFL..Insane, I know but I could get into that previously.

lol That dumb revenge thing . . I understand all to well Pb.

Also, you know how many people would remove their stop loss and "Hope" it comes back . .well . . lol . .it would of worked on this one, which would have given false confidence and the next one they do that to would never come back.

You did real good, Pb.
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  #72004  
Old Aug 18, 2010 12:56am
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Originally Posted by The Lord View Post
In the sideways market especially. But in a trending market, smaller bars right off the trendline seems to work.

Big bars are good with PBs and Outside Bars but on compression type setups like IBs and I4+Bs, small is good. . .if that's what you mean.
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  #72008  
Old Aug 18, 2010 1:22am
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Originally Posted by cprao View Post
Jarroo,

2 questions.
1. When you say - setup break.. how many pips of break approximately on short side ?

2. Entry at 1.5700 is after witnessing any PA bar on lower timeframes ? or is it a touch trade ?

Edit: The 2nd question is kind of answered in the above couple posts. This is my understanding on this- you will look for PA bar ar the expected retracement level in the lower timeframes. However, in this case, I believe it was a touch trade. At least I don't see any good PA setup either in daily or H4 timeframes (FXDD). Is this right ?...
On question #1., I think you're asking on the Weekly GU DBHLC setup itself . . .buffer-wise for a short entry.

Well the DBHLC is trading right into a PPZ level, the 1.5500-25 level. This is where James16's "This is Critical" comes into play . .
Quote:
Originally Posted by james16 View Post

THIS IS CRITICAL.

WE MUST LEARN TO:

1. notice a strong s/r area just beyond our pa if it exists.
2. know that if we trade into it we had better be prepared for a quick reversal that could give us a loss if we are not prepared.

if we know its there we have several choices.

1. get out when it gets there for a small profit.
2. take a small partial profit and move the remainder to BE.
3. stay in with your total position hoping for a break and move your stop to BE.
4. Dont enter until the level has been broken.


jim
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  #72009  
Old Aug 18, 2010 1:26am
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Quote:
Originally Posted by cprao View Post
Jarroo,

2 questions.

2. Entry at 1.5700 is after witnessing any PA bar on lower timeframes ? or is it a touch trade ?

Edit: The 2nd question is kind of answered in the above couple posts. This is my understanding on this- you will look for PA bar at the expected retracement level in the lower timeframes. However, in this case, I believe it was a touch trade. At least I don't see any good PA setup either in daily or H4 timeframes (FXDD). Is this right ?

Your thoughts, please ?
I think I answered your #2. here:

Quote:
Originally Posted by jarroo View Post
I entered right at the 1.5700 with a 30 pip stop loss, no buffer. The 1.5700 retracement level looked clear to me as well as the quality of the setup.

If bearish PA at the 1.5700 at a lower time frame is presented, you can use a buffer there.


Darn it, I should have shown ertorque this 8 hour BEOB off the 1.5700. . . .which retraced to the previous bar Low . . of course . . .
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  #72010  
Old Aug 18, 2010 1:39am
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Quote:
Originally Posted by Pinbar View Post
Oh, I was talking about the USD/CHF where you mentioned a "Deeper swing low" may have been better.


What I meant was, if on that USD/CHF we had a deeper swing low, I would wonder if it was going to go South.


I don't really get the meanings of these deeper swing lows or highs that I often see you mention.

Here's a couple of James16 charts (Daily Usd/Jpy) that best describes what I mean. . .

You are viewing all of James16's charts frequently, right Pb ?
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  #72022  
Old Aug 18, 2010 3:18am
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Originally Posted by cprao View Post
Jarroo, Sorry. I did not put the question right. on the above when you say " I would wait for the setup to break" - How many pips the price has to go below the low of beob/dbhlc to consider it as a "break". ?
Any amount will do. I was willing to wait until the 1.5500 was hit then retrace. When a setup breaks, it validates the setup. You may hear James16, Mike and others say that a PB is not a PB until it breaks. Well the same goes for all other PA as well.

You can look for a retrace before it breaks, meaning if Price retraced to the 1.5700 before it broke. This is also viable when the setup is of high quality, but I prefer a break of the setup then a retrace . . even if its one pip. lol
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  #72023  
Old Aug 18, 2010 3:39am
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Originally Posted by ertorque View Post
Hey Jaroo, no problem. I see it now.
Darn it, it IS there (the bearish PA) after all. But then again, would never have thought of looking at 8H; just too high for me to be considered a low TF

As usual, great rapport here!

CY



There's nothing like PA on the lower time frames that agrees with higher time frame PA. . .or should I say high quality, higher time frame PA agrees with . . .

Funny, the Hourly sometimes looks like a 5min chart to me. lol
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  #72025  
Old Aug 18, 2010 3:58am
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Originally Posted by jarroo View Post
Good thing we wait for the break (2 Day PB), right Lord?

One thing I failed to mention on this one was what was going on on the Weekly BUOB.

Atc should remember this one.



Now that we have had a Weekly Bar close below this 1.3350ish PPZ level we may see some nice bearish moves coming our way.

Support turning into Resistance.
I missed this one on the Eur/Cad.

4 Hour BEOB at and through the 1.3350. Engulfing many bars, the close below the 1.3350.

What would have gave me confirmation or confidence to take this setup was that the Weekly Bar closed below the 1.3350. Support turning into Resistance.
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  #72027  
Old Aug 18, 2010 4:07am
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Originally Posted by Chelski View Post
Jarroo,

This is great, very clear and simple. i had been looking at the DJ30 weekly BEOB and Monday formed a pin bar on the Daily.
Yesterday saw a retrace that pushed past the low of ther previous weeks candle but fail to hold.

Yeah I saw the PB as well. . .a bit small but broke very hard. . . I love when that happens.
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  #72028  
Old Aug 18, 2010 4:15am
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Originally Posted by aserbfx View Post
it wasn't the best setup, but good enough for 50 pips so far.
I tough trade aserbfx only because the PB was so small. I would have preferred a much bigger PB. But its working out nicely can't argue that . .
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  #72031  
Old Aug 18, 2010 4:40am
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Originally Posted by Pinbar View Post
It has just hit me that USDCHF has formed this gigantic H&S on the weekly. LOL
Or a Nice Big 2 Month PB that broke nicely.
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  #72032  
Old Aug 18, 2010 4:41am
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Quote:
Originally Posted by ertorque View Post
Good gracious! what happen to cable? 100pips up in less than an hr?
The 1.5500 looks pretty strong.
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  #72036  
Old Aug 18, 2010 4:54am
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Originally Posted by pipmyride View Post
OMG thats huge !

Seen any other A+ setups lately J ?
lol I hear ya. . .

The GU Weekly DBHLC and EU Weekly "Bearish Big Bar" have potential. But nothing that really standout as of yet.
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  #72039  
Old Aug 18, 2010 5:00am
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Originally Posted by pipmyride View Post
OMG thats huge !

Seen any other A+ setups lately J ?

The 1.0300 on the Cad is good strong level . . . its been a hot potato . . . . just need some solid PA to confirm it.
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  #72045  
Old Aug 18, 2010 5:25am
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Originally Posted by oromek View Post
hey

i've spot this 2D PB, hitting BRN 60 which is decent support for price.

As an adverse factor i see i may open my trade right on FTA, which is previous swing low. I'm very curious how other people perceive this setup.
I do like that its at the bottom of a consolidation area that's been going on for a while. But it is pretty messy traffic-wise. It has good potential if this consolidation period continues. Could be a bumpy ride.
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  #72047  
Old Aug 18, 2010 5:38am
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Originally Posted by gonnamakeit View Post
h4 outside bar on cable - large engulfing and off BRN and PPZ

others have mentioned its heading into traffic -

would you agree that traffic is around the 1.5680 level

this could be the first trouble area ? so what if order was placed on break of buob ( would have tiggered ) and at 1.5680 ish stop moved to b/e or partial profit ?

would appreciate some advice...jarroo ??

cheers
It ran right into the traffic which its fighting right now. If it can break through and act as support its got a chance for the 1.5700 again.

I like JonnyisFound's take on it too. Not at a deep swing low and too much traffic. . .pass.
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  #72048  
Old Aug 18, 2010 5:42am
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Originally Posted by oromek View Post
interesting perspective, thanks jarroo

i will give it a try with 1% risk. I will watch very closely (however i dont know if it's good or bad )

thanks
oromek

Was I vague enough for ya . . . without telling you to take it . . .Good. lol

Seriously though, the Nzd/Jpy is nortoriuous for being choppy . . . I do like its location and 60.00 BRN support.
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  #72053  
Old Aug 18, 2010 5:53am
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Originally Posted by Geofract View Post
I took this setup - usually I would try and get an entry that's inline with the H4 trend. but othweriwse I think this is a reasonable setup, though not A+

Pros, 61.8% retrace of last daily swing, 1.62 good level on H4, Big pin, which is also a BUOB, and this pair often can put in massive daily moves, so I think there's plenty of potential here.

FTA1 1.63

I will look to scale out for a free trade at 1.634 area if she gets there.

Crits welcome. Ollie.

I like it Geo . . because of your tight trade management. Because its not A+, this trade management is required in my book.
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  #72057  
Old Aug 18, 2010 6:05am
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Originally Posted by oromek View Post
every trader must be self-reliant, of course i want to learn from your experience, but at the end i have to make decision. It's very good you didnt say - yes or no, that would for sure influence my fragile convince to this trade, or give unnecessary at this moment self-confidence.
You are the great teacher jarroo

thanks
oromek

Thanks oremek . . I learn alot myself by helping out.
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  #72058  
Old Aug 18, 2010 6:10am
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Originally Posted by Adilius07 View Post
Pinbar, may I ask. Your Fibo shows price levels too. Which is not an option with standard one. Could you point where do download the same one? thanks.
No download Adilius . Just add "%$" in the description box of the Fibo.
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  #72064  
Old Aug 18, 2010 6:24am
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Originally Posted by mihazupan1 View Post
Is it just me or are pinbars and other PA patterns easier to read on a bar chart? There're many pinbars on a candle chart that I'd trade but when I look at them on a bar chart they doesn't look that tempting anymore It's just easier to filter them on a bar chart. Not to mention that I spot BUOB and BEOB easier there.

Everyone has their own preferences when it comes to charting. What ever works for you . . . is what works for you......which is great.
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  #72069  
Old Aug 18, 2010 6:53am
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Originally Posted by Pirabuji View Post
Hi Jarroo,

Are you still in this GBPUSD trade from the touch trade entry at 1.5700?

Thanks,
Pirabuji :

Hi Jarroo,

Are you still in this GBPUSD trade from the touch trade entry at 1.5700?
I still have a partial position (1/3) from the 1.5700, with a stop loss above the 1.5700 at 1.5720

What was your target the PPZ 1.5525 or are you looking to hold past that? I took 2/3 off at the 1.5550 which were near the Daily Lows. I will hold the remaning 1/3 postion until it is stopped out or I will add to it.

When you have a BEOB or DBHLC at a swing high so naturally no traffic do you always look to enter on the retrace to the previous bar’s low? Do you wait for the bar to break first before retracement entry or will you enter if it retraces without breaking? I believe I answered this here and in the posts that followed. http://www.forexfactory.com/showpost...ostcount=71944

Say for example the GBPUSD DBHLC did not have traffic at 1.5525 would you have just entered a normal position at the break and added another position at the retraced level? If the traffic was clearer I would have entered normally. If Price started to retrace on me after the break I would have protcted myself and been stopped out at break even, then I would look for a possible entry at the retracement level, at the previous bar low, in this case.

Look forward to your answer.



Hope this helps,

Jim
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  #72070  
Old Aug 18, 2010 6:59am
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later gang


gotta go

Jim
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  #72149  
Old Aug 19, 2010 2:13am
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Quote:
Originally Posted by pipmyride View Post
This is a good lesson in ALWAYS assessing your Risk:Reward ratio before u take a trade. If your rewards is not at the very least 2 times your risk you are going to hurt yourself in the long run.

Quote:
Originally Posted by fxprocessor View Post
This is NOT how James teaches.

Hey pmr, you might have missed these posts from Mike and James16:


http://www.forexfactory.com/showpost...ostcount=70154


http://www.forexfactory.com/showpost...ostcount=70155
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  #72152  
Old Aug 19, 2010 2:24am
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Originally Posted by pipmyride View Post
Thx J .. however i will kindly disagree (but we wont open up that can of worms again then)

lol I understand . . .I just thought I would point out their can of worms. I didn't know if you saw it or not. Cool.
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  #72157  
Old Aug 19, 2010 3:21am
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Originally Posted by jspeakman View Post
Hi Jaroo

Ref this post on EU/CAD (seems a long time back - this thread is fast!). Been looking at this from weekly DBHLC(?) off 1.35 - reckon a reasonably clear run to 1.3?

Thanks

J

With all that talk I did on Outside Bars and DBLHC-HLC and I didn't even mention that the 4 Hour BEOB agreed with or confluenced with that Weekly DBHLC . . . . . I saw it there on the Weekly but didn't mention it. . .go figure.

I like it J . . . I wouldn't rule out the 1.2500 either.
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  #72159  
Old Aug 19, 2010 3:46am
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Originally Posted by jspeakman View Post
Thanks Jaroo - still at the pre - demo stage but think am slowly getting the hang of this (or should I say, making less mistakes). Weekly PA on BRNs seem a really powerful combo (for confluence on daily PA and 4hr entries).

Thanks again -

J

BRNs do Rule. We got to thank Mike for that education. His trading is centered around them. It sure has made a difference in my trading when I did the same.
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  #72161  
Old Aug 19, 2010 4:11am
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Originally Posted by ertorque View Post
Hey Jaroo, looking at the weekly chart 5 bars prior to the current bar which is a BUOB ( a good one IMO), would you not agree that a person playing the enter-at-break would have been in heavy drawdown by now?
(assuming his SL is at the other end of bar)

Could we say that will be a decent setup that did not go well? I am keeping a lookout for decent setups that 'fail' just to satisfy myself that not all decent setups work (unless this BUOB is not a good setup)
Your thoughts please

CY
With a High of 1.3675 and a buffer of 15 pips would have got you in it to the pip, because it did break by 15 pips. . . ouch. You can see why I like retracement levels.

On the setup itself . .You got to like its Size but its not at a swing Low. It that baby was at a swing low . .say off the 1.2500 . . it would be A++. Since it not at a swing low, its a continuation play which can be tricky especailly fighting such a strong move down. This takes it out of the "A" category.

Since your keeping track, (I am too) it hasn't failed yet . . should be fun to see how it turns out.
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  #72164  
Old Aug 19, 2010 4:20am
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Originally Posted by jspeakman View Post
OOps - you got in first and of course I should have said swing low not swing high but think we are saying more or less same thing?

Thanks

J

Yes we are J. . .
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  #72253  
Old Aug 19, 2010 7:58pm
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Originally Posted by jarroo View Post
I missed this one on the Eur/Cad.

4 Hour BEOB at and through the 1.3350. Engulfing many bars, the close below the 1.3350.

What would have gave me confirmation or confidence to take this setup was that the Weekly Bar closed below the 1.3350. Support turning into Resistance.
Still watching to see Support turn into Resistance on the Weekly Eur/Cad at the 1.3350 level. Having a Weekly Open and Close below this level would help in its confirmation . . one day to go.

BUOB on the Daily, but did not close above 1.3350. Would like to have seen this at the 1.3000. But a break out the Daily BUOB and retest or pull back is not out of the question.

Caught the Hourly PB off the 1.3350 ( got you this time lol) . . .what a great level to find a bearish PB when Price is turning from Support to Resistance and at a swing high.
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  #72254  
Old Aug 19, 2010 8:08pm
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Originally Posted by jarroo View Post
Still watching to see Support turn into Resistance on the Weekly Eur/Cad at the 1.3350 level. Having a Weekly Open and Close below this level would help in its confirmation . . one day to go.

BUOB on the Daily, but did not close above 1.3350. Would like to have seen this at the 1.3000. But a break out the Daily BUOB and retest or pull back is not out of the question.

Caught the Hourly PB off the 1.3350 ( got you this time lol) . . .what a great level to find a bearish PB when Price is turning from Support to Resistance and at a swing.

Oh I forgot . . quess where my final target or FTA or if Price moves pass this level I'll place a stop loss above it . .was on the Hourly PB?

Yep . .You're right. . .the previous bar High of the Daily BUOB ..
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  #72256  
Old Aug 19, 2010 8:21pm
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Quote:
Originally Posted by Ghettobuddha View Post
Good morning folks,

Long time no see everyone. Looks like a lot of new faces around. Heres a nice trade I just missed =P

Here was a double top with divergance and pin on the 1 hour.

4hr turned into a dbhlc...didnt make it to the 61 fib but bounce off the 150ema.

Hey Ghetto . . .good to see you, friend.
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  #72257  
Old Aug 19, 2010 8:30pm
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Quote:
Originally Posted by Pipologist99 View Post
There were a few BUOB bars on the daily chart today, what say you about this usdcad, it bounced off a ppz as well as 61 fib.

BUOB is not at a swing low. Its heading into alot traffic (Daily bar Highs to the left). And its in the middle of Weekly consolidation . . or in the middle of a mess.

Did you enter already? A least wait for the Break.
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  #72259  
Old Aug 19, 2010 8:49pm
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Originally Posted by Dan Gilbert View Post
A bar like this, seems to me like a good place to wait for a pull back, not so much a break.

Price isn't going far if it does break the BUOB, you got 1.05 right there. the bounce that caused the BUOB is right off last months low price, these areas are significant, and it's not as likely that price will breach today's low before price hits the 1.05.


just my $0.02

Yes . .I agee Dan. At least down to the previous bar High or more likely the 1.0300, which has a strong history.
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  #72261  
Old Aug 19, 2010 9:04pm
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Quote:
Originally Posted by geomink View Post
as we know:

BUOB and/or DBLHC are tradable at swing LOW;
BEOB and/or DBHLC are tradable at swing HIGH.

So, what if:

BUOB and/or DBLHC are at swing HIGH;
BEOB and/or DBHLC are at swing LOW.

tradable or not?

many thanks

best trading
Quote:
Originally Posted by mbqb11 View Post
The simple answer is yes. Bars are tradeable at every location. When a BUOB is at a swing high this is what is called a continuation setup. Again it ALWAYS comes back to the location and look of these bars. The bars are a very very small part of what it is James teaches and the rest of us do. It is in my view to learn them the traditional way(ie buob at swing low) and work forward from there. I believe continuation patterns encompass a bit more and are a bit more tricky.

Best
Mike

Hey . .Thanks Mike.


Just to add to this Geo. The BEOB on the Weekly DJIA30 that you referenced in your post (green) would be considered a BEOB at a swing low (instead of at a swing High where we like them). The top of the body of the BEOB is at a swing High but the entry is at a swing low or near the bottom of current Prices. So yes . . . I see your point, its not A+ and would be considered a continuation BEOB.

For many, its an easy pass . . no problem. For me, I would manage it tightly a look for a hard break, I would also notice that it retraced to the previous bar Low before it broke which is a good sign.

When Price retraces to its previous bar High or Low on Outside Bars and then breaks nicely or continuously it is a trait of a high quality setup. (imo). Notice the blue Weekly BEOB that is currently in play. Its at a swing High from its current up move more or less.

So to cut this short . .lol . . when continuation Outside Bars behave like a high quality Outside Bars (good location) I take notice. Also the opposite is true too.
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  #72263  
Old Aug 19, 2010 9:10pm
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Quote:
Originally Posted by Dan Gilbert View Post
Looks to me like the daily I4Bs straddling VBRN on AUDUSD and EURJPY worked nicely for those who took them.

The bars were too big for my liking, not enough wind-up.

I see your point Dan . . . but Price sure keeps validating this awesome setup.
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  #72264  
Old Aug 19, 2010 9:43pm
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Quote:
Originally Posted by Jonnyislost View Post
Really wanted to see a deeper test of 1.55/PPZ before seeing PA
Then I would be
But as it stands this is an just an A- or B in my book so I passed

Same with GBP/CAD and the 1.6000


Quote:
Originally Posted by Jonnyislost View Post
Looks like we had a real stab at the 1.6 BRN this time
I like this bar very much
order placed at 1.6105 (above the BUOB and round number)
Quote:
Originally Posted by Jonnyislost View Post
My stop's at BE too Chris
If we break higher out of this little consolidation I'll hide my stop under it and see if we can get a push to 1.62

Jonny

EDIT: Oh we did already :P
Sweet! Jonnyisfound . .I mean . . .Jonnyislost . . (we got to change that user name).

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  #72270  
Old Aug 20, 2010 1:03am
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Originally Posted by spookie94 View Post
Thanks Jarroo for the explaination. For some reason I was under the impression that you would wait for the break then look for the retrace
Yes, I usually do wait for the break depending on the setup. But when you watch Price behave after a setup is formed, such as a Outside Bar, and see retrace to its previous bar High or Low its a good sign that a good break is coming and the setup is correct. But a break of the setup validates the setup.


Quote:
Originally Posted by jarroo View Post
, I would manage it tightly a look for a hard break, I would also notice that it retraced to the previous bar Low before it broke which is a good sign.
Quote:
Originally Posted by jarroo View Post
I will take a simple break and manage it accordingly to its traffic, but you will usually see these retracements to the previous bar before they break, which is a good sign of a successfull hard break.
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  #72271  
Old Aug 20, 2010 1:04am
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Quote:
Originally Posted by Pinbar View Post
Anyone watching the BUOB on USD/CAD

pros:

Nice sized bar, swing low, BRN, off 61.8 fibo.

The H4 has 3 consequence bull bars in a row and 6 ema has broken the 150 and 365 ema.


Cons.

Closed at 1.0400 and below PPZ at 1.0412, only about 40 pips to FTA where there are some serious lows. traffic on left at red box.

Any thoughts appreciated.
Commented I this one a few post earlier Pb.

Quote:
Originally Posted by jarroo View Post
BUOB is not at a swing low. Its heading into alot traffic (Daily bar Highs to the left). And its in the middle of Weekly consolidation . . or in the middle of a mess.

.
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  #72272  
Old Aug 20, 2010 1:17am
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Quote:
Originally Posted by Dan Gilbert View Post
It's funny how many in this thread call it my "signature" setup.... as if I invented it or something

mike w is to blame for these great inside bars!
Was it Mike W that put the IBs and I4Bs with BRNs? I thought it was you.

Oh well . . . you're stuck with it Dan . . .lol
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  #72274  
Old Aug 20, 2010 1:28am
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Originally Posted by cprao View Post
It's a good BEOB at
swing high
61.8% retracement
Broke through BRN 10500

But the close is not good.

Did not break the consolidation.
A close below 10240 (around 10190) would have been a good bar to short it.

Any thoughts ?
I like the Size of the BEOB. Yes the close below the 10240 would make a difference in strength. That FTA at about the 10150 would concern me.

Nice analysis cprao.
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  #72276  
Old Aug 20, 2010 1:29am
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Originally Posted by Pinbar View Post
Missed that or at least I did not realize the comment was about USD/CAD.

Yeah, I flipped out again.

More videos to bring me back to earth.

What did you think of the Usd/Chf 4 hour Outside Bars Pb? See any differences and things in common between the two?
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  #72279  
Old Aug 20, 2010 1:44am
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Originally Posted by cprao View Post
Thank you Jaroo. Are you talking about the bar that shown with blue arrow that concerns you .

Yes that's the one. . .

. . .still working on your scenarios . . give me a mintue.
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  #72283  
Old Aug 20, 2010 1:58am
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Originally Posted by cprao View Post
Well Jarro. Sorry little confused.

1) Scenario 1-
A) Good BEOB/BUOB on daily/weekly.
B) Broke the setup (went in the direction of the bar by 1 to 10 pips).
C) Retraced either to previous low/high or confluence or consolidation.
D) On lower time frames, PA has formed (PB or BUOB/BEOB)
E) Step D validates daily/weekly BEOB/BUOB and provides confirmation for a trade. (Assuming you are not running into resistance and FTA is clear, space is there and etc..)

2) Scenario 2-
A) Good BEOB/BUOB.
B) Retraced either to previous low/high or confluence...

I like 'em both . . lol

Probably Scenario 1 because the setup is confirmed or validated, where Scenario 2 may never break.

The reasons I like them both is because of C & D in #1 and B & C in #2. If Price retraces to the previous bar High or Low, whether a break of the setup occurs or not and forms quality PA on the lower time frame at this level, then I would like its potential outcome. Not just on the lower time PA itself but future continuation of the Higher time frame PA. ( Geez, does that make sense?)

The hard break is an additional conformation for me that the setup is correct, meaning that a high quality setup is also high momentum setup as well. Price is running fast to the FTA and not looking back.
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  #72286  
Old Aug 20, 2010 2:33am
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Originally Posted by jarroo View Post
I like 'em both . . lol

Probably Scenario 1 because the setup is confirmed or validated, where Scenario 2 may never break.

The reasons I like them both is because of C & D in #1 and B & C in #2. If Price retraces to the previous bar High or Low, whether a break of the setup occurs or not and forms quality PA on the lower time frame at this level, then I would like its potential outcome. Not just on the lower time PA itself but future continuation of the Higher time frame PA. ( Geez, does that make sense?)

The hard break is...

Take a look at Jonnyisfound's Gbp/Cad 4 Hour BUOB. Price breaks the setup, (barely but good enough) and then retraces to the previous bar High.

On the hourly we see a PB at the previous bar High.

Not the best looking Hourly PB, but I like its location inrelation to the bigger setup . . .the 4 Hour BUOB.
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  #72288  
Old Aug 20, 2010 2:37am
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Originally Posted by Pinbar View Post
Yes, I almost took that when I noticed it yesterday, however, I considered the swing high to be a little vague so, I passed on it.

Also, my back was killing me and with the pain I decided to just watch.
Ok today though.

Thanks jarroo

Man .are you alright ? what happen?
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  #72290  
Old Aug 20, 2010 2:46am
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Originally Posted by cprao View Post
Making sense now.. Thank you.

Just think if that Hourly PB was better quailty wise. Also, could you add to your position, when the 4 hour BUOB breaks again? Meaning enter at the Hourly PB and then enter again on the re-break of 4 Hour BUOB and cover or minimize your risk? See what I'm talking about . . .
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  #72294  
Old Aug 20, 2010 2:57am
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Originally Posted by Pinbar View Post
Oh, I thought you were referring to the analysis!

The back, it has been horribly hot here these last few days with almost 40c temps and 80% humidity. Even at midnight the temps were like 34C.
So, on Tuesday night, I slept right in front of the air conditioning, I got up in the morning and had this horrible pain between my shoulder blades, like a toothache type pain, breathing was hard because of the pain.

My wife did some Chinese stuff on it but the pain still lingered, at last today it has sorted itself out.

Must have got a chill in...
Oh . . Ok . .try and take it easy there buddy . .wow . that some heat.

Not a bad way to spend the day . . watching the j16 videos and reading J16 . . I do it all the time and my back don't ache . .lol

I thought we could go over the Pro and Cons of the 4 hour Usd/Chf Outside Bars.
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  #72297  
Old Aug 20, 2010 3:17am
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Originally Posted by Pinbar View Post
Yeah, sure Jarroo, I would be glad to.

Thanks for the concern. I am fine right now.

Got to go out for a bit BRB.

Cool Pb.

Quote:
Originally Posted by Pinbar View Post
Yes, I almost took that when I noticed it yesterday, however, I considered the swing high to be a little vague so, I passed on it.
Absolutely agree with on that one Pb. Although it is pretty clear, not vague . .its not at a swing High (BEOB). A good decision to pass.

I did like its size compared to previous bars. Also , although it only engulf a few bars but it did engulf those previous bars highs in light brown.

Notice the BUOB (green) did not take out or engulf the previous bar lows.
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  #72298  
Old Aug 20, 2010 3:19am
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Originally Posted by cprao View Post
I see the posibility of adding positions. All because of lower PA is aligned to higher timeframes, right ? Higher timeframe rules..

Yes . . !! It all hinges on the high quality of the setup and the story its telling. And I thought Jonnyisfound's analysis was great.
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  #72301  
Old Aug 20, 2010 3:31am
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Originally Posted by ghous View Post
Wasn't this the hottest year on record for the globe? I read that somewhere...

Anyways, I don't live in Alaska either. I know how it feels when the temps pop above 40C and no I don't sleep in front of the air conditioner, in fact I don't have it installed in my room. I've opted for super ventilation through 2 huge windows and a fan does the job of keeping the sweat and the horrible mosquitoes away.

Stay cool Pb.

g.

Yo g . . .what's up?
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  #72302  
Old Aug 20, 2010 3:41am
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Originally Posted by Jonnyislost View Post
Thanks for the support Jarroo

Changing my username would probably coincide with a losing streak, overconfidence seems to be a killer in this game

Have a great weekend!

Good attitude to have Jon.


How about Jonnyisdoingit . . that didn't come out right lol

I'll think of something. lol
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  #72305  
Old Aug 20, 2010 3:58am
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Quote:
Originally Posted by Hitchhiker View Post
Is there some PA developing around 0.89 on this pair?

On the 4hrly chart a H&S formation. On my feed there looks like the possibility of a PB developing?.

Another hr to go before close. I'd like to post my chart, but being new..not sure how to do this yet.

Cheers

Mark
Try this Hitchhiker:

To post a chart:

If you?re a meta trader user just right click on the meta trader chart and go to ?Save As Picture?.
Then ?Select the image you would like to save:? Pick ?Active chart (as is)? then click ?OK?.
Save anywhere you want i.e. Desktop or a folder.

Then when you enter to post comments go to ?Attachments? click that.
Then click ?Browse? to find your pic you want to attach, i.e. Desktop or folder.
Click the pic you want and hit ?Open?, Then hit ?Upload?.
Wait for it to upload then close the ?Manage Attachments? window. Then make sure you hit the ?Submit Reply? button that is under the ? Attachments? button.
Done.
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  #72306  
Old Aug 20, 2010 4:00am
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Quote:
Originally Posted by ertorque View Post
What abt or Jonnyiscool or Jonnyisnobaloney ?

I like it, ertorque lol

or Jonnyisprogressingnicelythankyou.
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  #72308  
Old Aug 20, 2010 4:08am
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Quote:
Originally Posted by Jonnyislost View Post


I think just Jonny will be fine


Edit


Oh this one's pretty catchy..

I thought so too Jon . .lol
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  #72309  
Old Aug 20, 2010 4:21am
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I know I've been on this Outside Bar kick lately, hope people don't mind.


Here again on the Weekly Aud/Usd, which is much like the Weekly Eur/Usd.

Its not a BEOB nor a DBHLC but notice where Price retraced to when it broke and hit its FTA.

Lower time frame PA would be what I would be looking for at this retracement level.

That Daily IB at the .9000 looks more interesting when more of a story is being told.
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  #72313  
Old Aug 20, 2010 4:45am
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Quote:
Originally Posted by KissFan View Post
I am following up from my post #71444. Here is one of my favorite set ups with ALL criteria for trading. (A James16 Package Deal in a neat little Box)I know that I speak of bar formation set ups quite a bit. It is because they are most interesting to me. However exits in my book are more important. (I'll start posting more on exits) In the scenario presented, I will wait for two consecutive and opposing pins to print on any timeframe. When this happens, I will fib the range and when price breaks the range, I will look for a retracement move back...

Hey Rog.

So if Price breaks the Top (strike 1.3350) or the Bottom (Strike 1.02860) you will enter when Price retrace back within to the Pivot 1.03105 ?
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  #72314  
Old Aug 20, 2010 4:46am
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Quote:
Originally Posted by mihazupan1 View Post
Is this some kind of magic or what?
No magic here mihazupan . .lol



Just Support turning into Resistance and vice versa.
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  #72317  
Old Aug 20, 2010 4:54am
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Originally Posted by KissFan View Post
Yes sir. Many get away from you as a "no trade" with that criteria but if you don't trade them that way, your RR sucks.

K.I.S.S.

Oh .. ok Thanks

I guess you could just take the break of the range . .SOn OF a Bi***

Monthly PBs Gbu/Usd
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  #72322  
Old Aug 20, 2010 5:04am
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Originally Posted by Adilius07 View Post
Hello Traders,

I have a serious problem here with being picky. That is if you really think about it, there is almost ALWAYS a series of FTA (first, second, third etc) on your way. It is sometimes looks as traders on purpose or not just ignore some FTA levels, so to make the setup tradable... but a better look (being more picky) will reveal many many FTA's being so close that setup would look really foolish.

What am I doing wrong? This is really difficult to be picky for me. Because I either have to skip every trade that is 1) good bar 2) good...
Welcome to being a picky traders Adilius. Your fustrations will pass when you catch a Mike A+ trade with Size, Space and structure, etc and it goes for a 1000 pips.

But it a setup looks good in size, structure but not Space, etc. manage it tightly, move to break even quickly and see what happens . .other than that. the waiting continues. . .


Edit : Nice post Jonny
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  #72324  
Old Aug 20, 2010 5:09am
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Originally Posted by Pinbar View Post
Yeah, I have had my eye on this confluence.

Even I saw it......LOL

I was lining up the two consecutive and opposing pins on the Monthly Gbp/Usd back in early 2008 as KissFan stated in his post.
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  #72328  
Old Aug 20, 2010 5:21am
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Originally Posted by Adilius07 View Post
Thank you Jarroo! So you mean that is how it is SUPPOSED TO BE?

Ohh then being picky is much harder than I first thought....

Hate to break it to you like this Adilius but pretty much.

But there are many ways to skin a cat . .there is multi bar breakout trades and pattern breakout / pullbacks setups and many other thing to look for while waiting for that A++ trade.
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  #72332  
Old Aug 20, 2010 5:28am
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Originally Posted by Pinbar View Post
In 2008? All I can say is, Woooooooooooooooooooooooooooooooooo ooooooooooooooooooooooooooooooooooo ooooooW




Jarroo

I think these clear highs 7 lows had something to do with pricce taking off after it tested this area.

wow is right . .lol

Yeah, there wasn't much of a retrace on that BEOB. But yes I think you nailed it where it had trouble retracing or why the retrace was short lived.
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  #72334  
Old Aug 20, 2010 5:34am
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Originally Posted by KissFan View Post
LOL!!! Works huh? What a move! Here is an update to my last chart. Yes, you could take the break of the range if you see room for the trade to run and give you a good reward vs risk. (Like I have to explain that to a veteran like yourself.) LOL!!

K.I.S.S.

Cool stuff Kiss-Man . .I'll definitely check it out.
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  #72336  
Old Aug 20, 2010 5:41am
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Originally Posted by mihazupan1 View Post
Just kidding

Great example though. It's even more obvious on the lower time frames that you posted.

Price does have a story to tell . . one of the many things I've learned from Mike. The main plot is Support and Resistance, . .PPZ levels.
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  #72337  
Old Aug 20, 2010 5:44am
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Quote:
Originally Posted by Pinbar View Post
Looks like KISSFAN is one of those BAKED people.


EDIT! Ooopps...NAKED, that was....Not BAKED!

BAKED, is ME!

Lol What?? . . time to run through a sprinkler, Pb . .lol
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  #72426  
Old Aug 21, 2010 2:12pm
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Originally Posted by xmzhang View Post
Good afternoon,
Closed my shortposition on the kiwi a few pips above the 7000 for 92 pips profit, if kiwi breaks the 7000 later and respect the 7000 as resistance I will be looking to re-enter for a renew short. On the weekly this pair is rangebound between the 7400 and the 6800 at moment, so this could be a nice rangeplay. The kiwi might revisit range support at 6800. PA really works, don't they Jarroo.

May the force be with you,

They sure do xmzhang.

My concern with that Bearish PB on your feed and FxPro's feed was the way it closed. Although on IBFX's feed, it did look better.

On Bearish PBs, we like to see the Close lower than the Open (red check mark PB), just to show bearish strength. But its not a trade stopper as this setup, and many others like it, will prove time and time again.

Having the Close lower than the Open on Bearish PBs (and the Close Higher than the Open on Bullish PBs) is just an added pickiness that J16 traders like to see to help confirm their decision making.

Well Done, xmz.

PA is definitely a Force to be reckon with.

Jim
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  #72431  
Old Aug 21, 2010 2:49pm
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Quote:
Originally Posted by Chelski View Post
Yesterday was the real job for me so not much screen time, i like the look of this set up.
10300 RN / 50% fib
BUOB rejects 61% Fib and close above 1.0300
1.0300 area has been S/R level in the past.
The 1.0300 sure has Chelski, and a strong one. Check it out on the Weekly. Nice.


What a difference a time frame makes. The 4 hour BUOB or the Daily BUOB on the Usd/Cad.

The 4 hour BUOB: Good Size compared to previous bars, engulfing many bars including their Lows, the BUOB itself is not at swing low, its in a consolidation area but the consolidation area that the BUOB is in is at a swing low (50% Retracement level) and RSI divergence. But it does have some immediate traffic to deal with.

Daily BUOB: Size is not bad, but engulfing only 1 bar, not at a swing low; meaning not at the other swing low levels (blue check marks), in the middle of Daily consolidation, no divergence confluence, and immediate traffic to deal with.


With one would you take?


Good eye on the 4 hour BUOB, Chelski.
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  #72432  
Old Aug 21, 2010 3:12pm
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Originally Posted by mbqb11 View Post
No don't say that, you need to clear your mind. I was very obsessive too b/c it is that determination we all have to succeed. But you can not force the issue. Lights will come on when you are ready to see them. Just enjoy it along the way and DO enjoy the time away from the charts.

Cause he made me smile so much I had to post it

One of our members from Argentina sent me his football teams jersey with my name on the back and some local chocolates! Matty really made me

Looks like you've been pumping some iron there, Mr. Mike. No one is born with V-Shaped back.


What a cool gift.
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  #72433  
Old Aug 21, 2010 3:18pm
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Originally Posted by Pinbar View Post
Yes, that is how Jarroo taught me to locate the PPZ.

I find drawing them on the line chart and then switching back and fourth to the candles, helps fine tune them.

And Bundyraider showed me . . .

I wonder where he has been lately. . . . . .
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  #72434  
Old Aug 21, 2010 3:36pm
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Originally Posted by Atc View Post
Just some observations on weeklies....although I rarely trade them....and I really don't know why...maybe it's because I haven't gained the faith and/or I work and don't have the time to monitor them or stop loss can be large or yada yada yada...I thought I would throw these charts up as a learning experience to support the importance/power of the higher time frames and an earlier discussion we had this past week on BUOB/BEOB's and why I enter the trade on retrace to previous bar(s) sometimes prior to the break.

For the record, i usually play...

Great Charts Bill . .


Don't forget the Monthly . .
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  #72436  
Old Aug 21, 2010 3:46pm
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Originally Posted by oromek View Post
another bad trade, seems FTA was much earlier as i afraided. Lesson for me - not to take trades when i have any doubts in it.
Actually i repeat that lesson time after time, time to learn something new....

There is a new friday PB, on one hand it's not sticking outside previous bars, on the other hand 60 BRN proves it is still very strong support. On weekly there is also pinnish bar, but i think i will look for other setups...

regards
oromek

Its why we demo, brother.

The 60 BRN is strong but still alot of traffic with those PBs.

Better setups are always coming by. .
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  #72437  
Old Aug 21, 2010 3:54pm
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Originally Posted by ghous View Post
Hey ATC,

I am looking at the more significant area near the 8000 BRN rather than those 2 bar highs, and this leaves me with a gut feeling that the bears may not have had their complete fun just yet.

I am looking at a long term up trend that entered into a wedge and only recently price broke out of it. It has since been giving lower lows and lower highs and and developing into a decent down trend.

Looking at the IPB itself, you gotta feel a bullish close would have been so much better, as it is now it feels more - like Adilius said - an IBish...
Wow . .what a great chart . . . .and great story.

Thanks Ghous
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  #72438  
Old Aug 21, 2010 3:59pm
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The Weekly Nzd/Usd IPB looks pretty good.

The IBFX feed shows its bullishness better.
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  #72439  
Old Aug 21, 2010 4:16pm
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Originally Posted by cprao View Post
Great topic. Jarooo started on this at length last week about how he traded GBPUSD and he also shown why he did not trade EURUSD. (Retracement points/areas are not clear).

I kind of understood this trade idea, however, determining the retracement point is still tricky. It will not be clear for all the set-ups. But is is still great for me since when I play BUOB/BEOB, I play very traditionally - like entry 5 to 10 pts low/high of BEOB/BUOB and SL is high/low of BEOB/BUOB.

For weekly this is a huge SL. This method (if I practise) will reduce SL...

Wow . .cool post cprao . . ..Thanks.


Here's another example . .on the Daily Aud/Usd BUOB back in June of this year.

Daily BUOB at a swing low.

Price retraces to the previous bar High level. Notice I also put a line (green line) at that Daily low, why? Because its at the previous bar High level.

4 Hour chart shows a BUOB at this Level (previous bar high of the Daily BUOB).

Notice that Price retraces to the previous bar high on the 4 hour BUOB.

pretty cool huh?
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  #72454  
Old Aug 22, 2010 6:38am
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Originally Posted by mbqb11 View Post
I can't keep up with James though

it certainly was a cool gift

I started working on my chicken legs, I can barely walk over the last few weeks. Sore as hell.
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  #72455  
Old Aug 22, 2010 6:41am
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Quote:
Originally Posted by artov View Post
I'm long already off the 4/8hr pinbar. Yes there is traffic on the left but the location is too good to ignore imo. A tight trade management will be applied.

Looks like it reached its initial target . . may be some retracement or pull back coming. Other then that, it looks good artov.
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  #72456  
Old Aug 22, 2010 6:52am
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Quote:
Originally Posted by jdl View Post
I see a higher than usual number of pin bars, IBs, and triple low closes on daily charts this weekend.

Pros: Nice long wick to PB. Broke BRN of .8900 and bounced back. Hit 150 EMA and bounced back. Almost equal low point compared to Monday bar. At a retracement from a swing high. Bullish Pin Bar on Friday 4H chart. No nearby FTA that I can see.

Cons: Not at a true swing low. No Fib confluence.

FTA at ~ .9025.
What am I missing? Thanks.

Maybe a bit bigger in Size . .that's all I seeing that's missing.

I like the support of the Highs at the .8850 (white) and your .8900 Lows (white). The .9000 looks like a good target.

Looks good jdl.
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  #72457  
Old Aug 22, 2010 7:10am
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Quote:
Originally Posted by xmzhang View Post
Good evening Master Jarroo,
If you allow me to share you my humble opinion about the kiwi on the weekly chart. Lemme explain what I see. Somewhere mid may Kiwi broke downwards out of a range between the 7440 and 6800, but found support at an previous range-resistance at the 6600 and has since been making higher highs and lows along a TL. Price trended back into the range and made it to 7400 just below the resistance of the range. During the week before last week (W32) price broke the TL via a big red bar. Last week (W33) price pulled back to the...
Price has been trending up nicely over last few months not just on the kiwi but many pairs (GU, EU, etc.,). This trend may be continuing upward.

The .7000 is a Strong BRN, what makes it stronger is that its a PPZ level and that its lining up or confluencing with the 50% retracement.

BRN, PPZ Level and at a Retracement Level (50% ret). This is a strong confluenced level. It is where touch trades are taken. I don't suggest doing that. PA confirmation is need to be sure. I see more up movement with this pair. The bullish IPB maybe its trigger . .we shall see.

An entry below the .7000 is not a bad way to go. But I would wait for a break out and then pull back or retest of the .7000 (red lines) just to confirm that the .7000 is now acting as strong Resistance instead of acting as strong Support that its currently doing.
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  #72458  
Old Aug 22, 2010 7:13am
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Quote:
Originally Posted by Eklavya View Post
The PB did what we thought it'd do...I am out at BE here...
It sure did . . hit its target, previous bar low, very nice.

Did you capture any pips before the break even ?
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  #72459  
Old Aug 22, 2010 7:22am
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Originally Posted by Adilius07 View Post
This one really looks as it is going DOWN from here
Oh well lets see

Looks good Adilius.

I love those Pin Bar looking Outside Bars.

Size looks good. Check out the size of that Weekly BEOB at the beginning of the year. Nice.

I like that the entry point is below the previous bars Highs in white.

Also, check out the Monthly . . notice that the current (Pinbar looking) BEOB is off the previous bar Low of the BIG Monthly BEOB of the beginning of the year . . interesting . . don't you think . . .
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  #72462  
Old Aug 22, 2010 7:30am
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Originally Posted by Adilius07 View Post
I see 3 possible daily pins. AUDUSD, NZDUSD, NZDJPY.
I've chosen NZDJPY.

Can you go over the reasons why the NZDJPY instead of the AUDUSD and NZDUSD?
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  #72464  
Old Aug 22, 2010 7:52am
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Originally Posted by Adilius07 View Post
Jarroo thank you for your analysis!! I din't even look at monthly. Wow I should learn to do that. I am worried about this consolidation area which you marked on WEEKLY chart, yes it is closed below the highs of it but still kinda in the middle of it. But I hope that is "not recent" consolidation, so maybe price would have less trouble with it.

My main "view" was that this year is just one big range and we are now at the top of this range.

The most amazing thing is that I can now see that this method DOES WORK with stocks!!! Amazing!!!...
When I see a setup on a given time frame I'll always go up time frames to see whats going on up there. The higher time frames provide stronger levels (PPZs, Sup, Res, etc.), other PA formations that may agree or conflict, etc. I'll go down to lower time frames to see how Price is reacting to the levels from the higher time frame setup. ( I probably shouldn't even do that . . .lol)

Just takes some time and study Adiliuos . . . .you'll get there.


Meta trader 5 . . .I like it . . just one of many that I look at.
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  #72466  
Old Aug 22, 2010 8:16am
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Originally Posted by xmzhang View Post
Good afternoon Jarroo,
I was curious, are you trading for a living or is it just a hobby for you ?
Not trading for living just yet but plan to.

Believe it or not . . .trading , reading charts, analyzing charts, etc . .actually relaxes me. Plus its a whole lot of fun. . . that wasn't always the case . . lol
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  #72472  
Old Aug 22, 2010 8:40am
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Originally Posted by Adilius07 View Post
Ok, I tried to express my thoughts on these charts. Honestly I liked them all at first But I need to choose just one, so I went with NZDJPY. Mostly because it is LESS SCARY for some reason which I try to explain on the charts:
All the PBs are a bit too small in size which is scary and they all are running into traffic. The traffic wouldn't concern me if their size was bigger . . .its all about Space (and location of course) as Mike would say.

If I had to choose one it would be the Aud/Usd PB, it has good supportive levels the .8850 and .8900 with a clear target, .9000.
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  #72473  
Old Aug 22, 2010 8:43am
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Quote:
Originally Posted by xmzhang View Post
I don't understand, someone like you with such a understanding, you could easilly earn a very very descent living out of just trading.

Quote:
Originally Posted by ghous View Post
oh man, this is a real shocker for me! You don't do this full time?! Don't get me wrong the shocking I guess comes from the fact that despite the day job you squeeze out so much of your time to push through your price less lessons???

Something is really weird about the guys here at this thread...something really weird in the good sense of the word.

g.

lol Its probably true . .I could take it to the next level . . . its just that my account size is not where I want it to be to do it right. Plus Life always gets in the way here and there. I'm in no hurry.
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  #72474  
Old Aug 22, 2010 8:49am
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lol Its probably true . .I could take it to the next level . . . its just that my account size is not where I want it to be to do it right. Plus Life always gets in the way here and there. I'm in no hurry.
I'm in a hurry now . .gotta go guys


Jim
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  #72548  
Old Aug 23, 2010 10:18am
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Originally Posted by ghous View Post
That's the 42.6 FTA novice was talking about, it was the FTA true and it was on my mind for sure, but then like I mentioned in the previous post price did break through the FTA like butter.

Let's take a closer look at the "broke through like butter phenomena":

Below is a chart that shows the action on the 5 minute. The first red line is the entry point, the other lower one is the 42.6 area that you guys are talking about.

A very obvious characteristic of an A+ setup is that it normally get's backed up by decent order flow - i.e it breaks...

Great chart and example g.

___________________________________ _______

I'm having some computer problems as of late . . time for a new one. (about time lol)
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  #72549  
Old Aug 23, 2010 10:35am
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Originally Posted by The Lord View Post
Let this addiction happen to me soon. Oh god, please!

Once you remove your anxiousness to trade, the feeling that you have to be in a trade . these hurried thoughts of "I got to trade! I got to make it" . . . once these are gone . .it puts you in a better place . . then add the simplicities of the James16 method and it really becomes . . .fun.

I'm not saying this is you, The Lord, just how it was and is for me.

Jim
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  #72553  
Old Aug 23, 2010 10:47am
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Originally Posted by cprao View Post
Jarroo, This one just caught my eye.
Edit: Retracement to previous high/low.

cprao, do you remember this post.

I don't know about your feed on that chart . . .looks a bit off.

Quote:
Originally Posted by cprao View Post
Jarroo, A great explanation about how to read/understand retracement. Thank you !!!
Quote:
Originally Posted by jarroo View Post
A retrace or retest of a given level is basicly a formation of a PPZ level. (hang on . .stay with me here . .) What is a PPZ level? It is where Price "flips" or a level where Price acts Support then Price breaks through the Support and then acts as Resistence. (and vice versa) A PPZ level.

Think of Price retracing to the previous high/low (generally) or to a BRN or to a PPZ level as Price retesting that level (Sup or Res) in the form of an Outside Bar.

Price breaking Support and turnng into Resistance (or vise versa) all in one Price Action...
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  #72560  
Old Aug 23, 2010 11:36am
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Originally Posted by Ace284 View Post
Oh, and im short the AUDCAD. Made a video about it last week at the close of the market.
Just posted it several hours ago on my youtube page. Check it out if you want. Its currently sitting at a small profit... waiting for trade to develop

Anyone else sitting on any positions?

Hey Ace . . .I enjoyed your video.

You analysis of pointing out a great level of a strong confluence was very good, the .9350ish. The potential of a possible shorting opportunity was clearly there. The opening of this week clearly showed your analysis was correct, (Hourly chart showing the gap down). This is where some solid bearish PA would add additional confirmation for one to take a short at the .9350ish level.

Since no obvious bearish PA was present and Price broke through that level fairly easily, showed me that the uptrend is very strong. Strong . . because Price had to break through a strong level.

The .9350 level is still a very strong level as you pointed out and Price may again re-test it. I believe this level will now act as strong Support and bullish PA would be what I would be looking for if Price reaches this level.


Just some thoughts,

Jim
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  #72564  
Old Aug 23, 2010 11:52am
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Originally Posted by Ace284 View Post
Both positions just hit their target.

MT4 account:

Risk = 28 pips
Reward = 107 pips

Risk:Reward = 1:4

Second account:

Risk = 45 pips
Reward = 233 pips

Risk:Reward = 1:5.2

(I didn't take the trades solely because of the good ratio, the setup was A+ in my books and the ratio just made it a solid trade)

My AUDCAD position got stopped out at BE at 0.9350...expected more but the massive gap caused a few problems.



Update (Chart Below)
Eur/Jpy . . . Support turning into Resistance. Nice.
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  #72565  
Old Aug 23, 2010 11:58am
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Thanks for doing that G
ditto

Man . . I love Pinnish looking Outside Bars.
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  #72701  
Old Aug 24, 2010 4:52pm
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Originally Posted by jarroo View Post
___________________________________ _______

I'm having some computer problems as of late . . time for a new one. (about time lol)



AaaHhhhh . . . that's better . . .
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  #72707  
Old Aug 24, 2010 5:15pm
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Originally Posted by Ace284 View Post
Thanks Jim, I appreciate your insights. You definitely right, the bullish pressure is clearly there and has been there since the open for the week. As for the area acting as support, I'm going to wait for a while and analyze PA. I'm waiting for a retest. Will only take the trade is there is a break of bullish PA at the support.

I enjoyed that video! Good explanation man.

It hasn't confirmed anything yet. I'm still waiting for the low of the 4H bar to break like I said on the chart.

Your analysis was dead on the Aud/Cad we just needed a PA trigger to complete the picture. To bad it happened over the weekend.


Here's what the bearish PA looked like over the weekend on the Hourly, a big Pin Bar looking BEOB . we just didn't see it . . .just kidding too bad it didn't happen on Monday.
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  #72711  
Old Aug 24, 2010 5:48pm
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Originally Posted by Adilius07 View Post
It's 4:30 am here so should go to sleep. Just wanted to say thanks to Mike and Ghous on there replies! Will be more careful next time LOCATION MATTERS I WAS DUMB...

And as I promised to Jdl, this NZDJPY I got stopped out In my system I move my SL to "behind right-eye" backtesting it seems as it can really help me out in long term. So was a stop.

Should've listened to Jarroo on this. All 3 (AUDUSD, NZDUSD, NZDJPY) had way too much traffic and all were weak.... so size, location, traffic ALL MATTERS and this daytrading thing in my head...

Little bars in traffic at good location is a tough way to go. Sure, you'll see some of them go to the moon because of their location, but more often then not they end up like these.


Notice they did hit there target, previous bar high and/or low, except for the Nzd/Jpy. A 8-10 pips buffer would have kept you out of that one. I thought the Aud/usd would have at least hit the .9000, but the traffic was to much.

Your doing great Adilius . . .it all part of the journey that we all go through.

Jim
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  #72712  
Old Aug 24, 2010 6:18pm
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Jarroo, Sorry. didn't get what you are trying to say here. Are you saying that the chart is little bit off since the close of the BEOB was not strong. There was a big wic at the bottom.

No . . I just noticed that your feed appears to be missing some data.
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  #72714  
Old Aug 24, 2010 6:33pm
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This one is working out nicely . .PA Rules.
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  #72715  
Old Aug 24, 2010 6:48pm
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No, it does not engulf....Engulf means to totally cover the previous bar.
It is a 8 Hour Pb, Pb. I would have like to have see this up at the .9000, less traffic up there and a better confluenced level. And of course a bit bigger in size . . as you said.
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  #72716  
Old Aug 24, 2010 6:51pm
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Originally Posted by Forex Girl View Post
Hello friends,

After a journey on several threads in the forex factory, I found on the PA a strong and clear system . I have studied for six months. I'm in forex for 2 years. Regarding many of you, I'm a baby .... I hope to learn with you, guys.
I?m sorry about the english, I?m brazilian.

Thank you

Welcome Forex Girl. . . . you english is better than (or is it "then"?) mine.


Jim
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  #72726  
Old Aug 24, 2010 10:46pm
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Originally Posted by Atc View Post
I missed one of my favorites today a touch short ---- 61.8 + BRN
Whoa . .what feed is that Atc? None of my feeds show Price hitting the 1.3500 on the Eur/Cad. . .hmmm
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  #72727  
Old Aug 24, 2010 10:47pm
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Originally Posted by Forex Girl View Post
Thank you Jim, I do my best!!!

Cool.
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  #72733  
Old Aug 24, 2010 11:01pm
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Originally Posted by Ace284 View Post
Got my eye on this chart. Are you looking at any potential setups at the moment?

Well the Aud/Cad was a no brainer long at .9350.

I have few positions going in the GU and EU.

The .8500 level on the Usd/Jpy looks juicy . .(Support turning into Restistence.)

The Price my make a revisit to the .9000 on the Aud/ Usd before heading back down.

The .7000 on the Nzd/Usd is proving to be a Support level. She may break this level and act as Resistance. . . or not.

Looking to see if the 1.5800 (past Lows) will act as Support again on the Gbp/Chf.

1.0700 on the Usd/Cad (past Highs) may act as Resistance (again)


Sorry I didn't post any charts . . I didn't want to take up a whole page on the Thread . . .yeah, I know . . that hadn't stop me before . . lol


Edit : Had to post your Aud/Cad, Ace..
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  #72735  
Old Aug 24, 2010 11:13pm
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Jarroo, I am sure we are all glad you got your PC problems solved.

II hear you about the 8H PB, trying to ignore those for the time being.

Yeah, me too, PB.

Stick to thoses higher time frames . .Why? . . . because they Rule.
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  #72737  
Old Aug 24, 2010 11:29pm
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Originally Posted by cprao View Post
Feed: FXDD.

I don't think it is a tradble BUOB since it is right in the middle of sideways market.

BUOB was big but the close was not very strong. Left wic at the top.

But the my point here is will it retrace to 18.10 ?
since 18.10 has a confluenced with
PPZ
50 EMA
50% fib of BUOB
Previous bar (s) high/low.

Jarroo, any thoughts ?
In sideways market or areas consolidation, we like to see PA at the Top or Bottom of this area at very clear or tested levels. And as you said its in the middle of the area, so its not in a good place. . . very choppy . . alot of traffic.

Looks like you got a nice wedge formation there, cprao. Let's see if Price breaks out of the wedge and retest it.
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  #72740  
Old Aug 24, 2010 11:58pm
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Originally Posted by cprao View Post
Yes. Jarro, I would like to watch the wedge formation also.. Range is getting narrow..
Its a Mike classic.
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  #72741  
Old Aug 25, 2010 12:37am
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Originally Posted by cprao View Post
Ok. Now I see that. But it is still a good BEOB, right , with predictable retracement ?
Though it was in consolidation area.

Yes, Outside bars have this predictability of a retracement at their previous High or Low. But more so when they're at swing Highs or Lows and breaking through a strong PPZ level or BRNs.

I guess my point was to shows this on many times frames even the Monthly Nzd/Jpy at the 65.00 BRN. . .and in consolidation. Simple Support turning into Resistance and vice versa.

Once we see this on the Monthly, we can dial down to the lower time frames and look for some PA to take advantage of these levels.


Charts: Daily PB could have been better . . but I think you know what I mean.
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  #72742  
Old Aug 25, 2010 1:01am
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Originally Posted by mihazupan1 View Post
New computer or...?

Yeah, new computer . . nothing special.
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  #72743  
Old Aug 25, 2010 1:01am
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Originally Posted by mbqb11 View Post
welcome back buddy

YYo mike . . .
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  #72744  
Old Aug 25, 2010 1:10am
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Originally Posted by artov View Post
I'm pretty sure Jarroo would call that a hard break. I put my pending order, turned away to another screen and boom. Turning my SL to BE very soon and targeting 1.03
Yes that would be a hard freaking break. Nice trade management too, artov.
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  #72745  
Old Aug 25, 2010 1:14am
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Originally Posted by ghous View Post
Nice and smooth is how I love'em.

g.

Your a smooth operator g. . .


Great youtube video.
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  #72752  
Old Aug 25, 2010 4:31am
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Originally Posted by joelcf View Post


Buy a playstation and/or girlfriend.


http://www.freeworldgroup.com/games9...biewarfare.htm
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  #72755  
Old Aug 25, 2010 4:52am
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Originally Posted by mistersimple View Post
is it correct to wait CHFJPY daily pinbar confirmation..or we could have already jumped in..?

On the IBFX feed, which closes its Day at 8:00 PM EST, already closed as a PB. Would have like if the PB closed strong, meaning if its Close was higher then the Open would show a stronger PB. I do like the size. Very nice hard break . .robust.

Looks like it hit its 1st target. I would be protecting my position(s) at this level.

Good eye Mr. simple . . .Are you having problems posting charts?


(Hourly chart to show the strong break).
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  #72760  
Old Aug 25, 2010 5:56am
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Originally Posted by mistersimple View Post
Thanks..yes im at work and its not easy to post charts here
Ok i mean u entered the trade just after the PB was formed .. I meant if we wait that the 2nd eye is formed (after PB) is it still ok or too late?

I understand . .lol.


Yes, we always wait for the PB to close first (or any PA formation to close), in this case the Daily close depending on your Plat feed.

Yes you can look for a retrace of a PB just like a retrace of a Outside bar ( if you saw any of my posts on the topic of Outside bar retracements)

PB retracements to the left eye are possible but I would wait for a the PB to break first to validate the PB. And if the left eye lines up with or is confluencing with a BRN or a PPZ level like the 81.50 on the Chf/Jpy.

I could see Price move like the red line on this chart . .if it behaves properly . .which they sometimes don't agree with my analysis . .lol . . .we shall see.
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  #72762  
Old Aug 25, 2010 6:23am
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Originally Posted by pocrel View Post
this eur/jpy chart has caught my eye, we have had a major breakout yesterday now we have price coming back up to test support on the daily time frame

now i am looking for an entry and the 1 hour looks interesting

let me know what you guys think
Hey porcel.


I like the way you think. You saw a strong consolidation area breakout and now looking for a pullback or retest of that consolidation or Lupport level turning into a Resistance level.

The previous bar lows on the higher time frames can give you a clue where this levels may be located.

Here's how I would veiw the Hourly chart but first starting with the Daily or Weekly time frames. See the difference of your hourly level and mine?
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  #72764  
Old Aug 25, 2010 6:37am
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Originally Posted by xmzhang View Post
Wouldn't the ideal situation be a break first and then a retracement performed by the same bar, in that case we could enter at a much better price, knowing in advance that the PB has been validated ?

Yes, that would be the ideal, xmz. But I would have to have a lot of confidence in the left eye level . . meaning that the 81.50 (in this case) would have to prove to me that it is a strong Support level with some strength. And you can see by the chart that Price has tested that level many times with relative strength.

So a touch trade a that level would not be that risky. But I would rather have a nice Hourly or 4 hour PA at this left eye level (81.50) for more confirmation.
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  #72766  
Old Aug 25, 2010 6:48am
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Originally Posted by pocrel View Post
sorry your second chart does nt seem to expand so can really make it out jarroo, my daily chart is the same as yours

i took the trade and took half my risk off already with my stop now 15 points from my entry so trade going lets hope this thing goes down
Here . . try it now. I also include the 4 Hour.

Nice trade. . . .I was just showing you that there was a bigger story going on the higher time frame then just a hourly Sup/Res level.
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  #72768  
Old Aug 25, 2010 6:59am
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Originally Posted by xmzhang View Post
I've a question about trademanagement, if you take a trade on a certain TF, lets say a 4H-TF, would you then be managing this trade on a lower TF, for instance on the 1H-TF or even on a 15m-TF ? I like to look for S/R flips of levels of interest which could stall price, these flips are more visible on these lower TF's.

May the force be with you.
I manage my setups on the time frame that the setup was presented. So a 4 Hour setup is managed on the 4 Hour; for targets, stop losses, PPZ levels, etc.

So looking at a lower time to manage a trade can only get confusing. I will, however, look at lower time frames to see how Price is behaving at the higher time frame setup levels.
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  #72769  
Old Aug 25, 2010 7:04am
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Gotta go gang

later

Jim
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  #72858  
Old Aug 26, 2010 1:26am
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Originally Posted by aserbfx View Post
the nose doesn't prottrude much. but i like the fact that it fell below the 10k, came back and closed above it (and above the 61 fib).
I like this one . .Location: at the 10000 BRN and at a swing Low. The size could be bigger.

Here's another reason . . .on the Weekly we have a BEOB that worked out very nicely . . so nice in fact, that it hit its target the 10000.

Now what does Price usually do when it hits its main target? By "main target", I mean not just a FTA but a strong PPZ level or BRN or both. It ususlly reacts to it or reverses from it. Or it can smash right through which would show a strong down trend.

Its something to think about. Does the Daily PB have enough (location, size, higher time frame PA hitting its target, etc) to have a reaction so if it breaks we can cover our risk and/or move to break even and see if it goes to the moon? I think it does but I would also be looking for a retrace to the 10000 before and after it breaks.
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  #72865  
Old Aug 26, 2010 2:28am
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Originally Posted by Uncharted View Post
Hey guys, read through Jame's post , great stuff, one thing I hear a lot in higher tf trading is traders adding to their positions "sell rallies, buy the dips" but when price is trending, how are u determining what a dip or rally is ? I know their are continuations patterns, such a bear flags, but i have a hard time seeing where the rally or dips end and price is ready to continue.

thanks.
A good way to determine these dips and rallies are finding the PPZ levels and/or BRNs, (BRNs tend to be PPZ levels). PPZ levels are best found on the Higher time frames.

If Price is rallying and is heading into one of these levels or is falling back from a rally and heading down to one of the levels, I would take notice.

Throw in some good solid Price Action at these strong levels and a setup may present itself.
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  #72869  
Old Aug 26, 2010 2:50am
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Originally Posted by Uncharted View Post
sorry what does BRN stand for? and PPZ is that the same as pivot points?

Big or Bold Round Numbers like the 1.6000. .8500, 1.000. 1.3000. RNs or Round Numbers are like the 1.6100, 1.6600, .8700, 1.3300.

I agree with pimpmyride, Uncharted, you have a lot of reading to do.
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  #72873  
Old Aug 26, 2010 3:07am
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Originally Posted by mihazupan1 View Post
Do you first plot PPZ levels and BRN lines on your charts and then look for the PA around these points?

Yes, absolutely.
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  #72875  
Old Aug 26, 2010 3:14am
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Hey Adilius rememebr this post. #T is At&t right?

Great example of James16's "This is Critical" . .wouldn't you say?

http://www.forexfactory.com/showpost...ostcount=15568



Quote:
Originally Posted by jarroo View Post
Looks good Adilius.

I love those Pin Bar looking Outside Bars.

Size looks good. Check out the size of that Weekly BEOB at the beginning of the year. Nice.

I like that the entry point is below the previous bars Highs in white.

Also, check out the Monthly . . notice that the current (Pinbar looking) BEOB is off the previous bar Low of the BIG Monthly BEOB of the beginning of the year . . interesting . . don't you think . . .
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  #72877  
Old Aug 26, 2010 3:33am
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Originally Posted by Adilius07 View Post
Yes, AT&T. I remember reading that post by James yes. I think I try to do just as he says. When a Price reaches my FTA I would be quick to jump to BE. I think there was a room to move to that area below....

The thing with this T trade is is just filled me and immediately reveresed. So now it is just in between my SL and FTA. In cases like this (when I stuck in a trade) I will wait for the bar (in this case this weekly) to close so then I will bring my SL behind it (making my possible loss smaller) but if it goes to take me out on this bar, that...

I would have waited for the break of that previous bar low or FTA and placed my stop loss above those highs in white, above the 26.50.

Did you place your stop loss above the BEOB? If so it still could work out just fine.
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  #72879  
Old Aug 26, 2010 3:43am
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Originally Posted by Adilius07 View Post
Yes, if that BEOB would have close below that first level you marked, would have been perfect. That's what I need to learn to see and be more picky.

My SL is just above this BEOB yes. On friday I will move it behind the current bar. Trying to follow my rules, as I see on my charts - this SL moving (behing right eye) will save me some good money in the long run
Sounds great Adilius .. . . your progressing nicely.
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  #72993  
Old Aug 27, 2010 12:58am
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Originally Posted by xmzhang View Post
Good afternoon Jarroo, Mike,
I want to analyse the daily PB trade of the G-C today mentioned by some of the members today and share some thoughts of me with you. This PB quite a long story, but let me know if this is a correct way to manage a trade.

.
Quote:
Originally Posted by xmzhang View Post
The attachements of the G-C daily PB-trade

Quote:
Originally Posted by mbqb11 View Post
Hey Zhang

I rarely go to lower timeframes to manage a trade I think it overcomplicates the process. .

Best
Mike


I agree with Mike, xmzhang, moving down to lower time frames can overcomplicate a very simple trade. But more importantly, it can be very, very misleading.

Don't get me wrong, it is very viable as Mike had said . . . I will tend to manage a Weekly setup on the Daily, but more often then not, I should have stuck with managing it on the time frame that it was presented.

Let's take the Daily Gbp/Chf Daily PB for example . . give me a minte.
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  #72994  
Old Aug 27, 2010 1:20am
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Quote:
Originally Posted by jarroo View Post
.

Let's take the Daily Gbp/Chf Daily PB for example . . give me a minte.

Quote:
Originally Posted by aserbfx View Post
gbp/chf daily.
not the biggest pb, but one which comes from strong support.
good space till 1.61.
Quote:
Originally Posted by jdl View Post
Anyone else enjoying this trade? It's running into some resistance now at BRN 1.600. But SL moved to BE, so a free trade. Gotta love it when it works as planned.
Let's say you saw, as maybe aserbfx and jdl did, that the 1.5800 level on the Gbp/Chf Monthly as a Support level and on the Weekly and Daily as a PPZ level. You also notice that Price seems to be in a nice consolidation area between the 1.5800 and 1.7000 for some time. As Price nears the 1.5800 level you saw this as a opportunity to look for some solid PA action to trade.
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  #72996  
Old Aug 27, 2010 1:44am
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Originally Posted by jarroo View Post
Let's say you saw, as maybe aserbfx and jdl did, that the 1.5800 level on the Gbp/Chf Monthly as a Support level and on the Weekly and Daily as a PPZ level.

You also notice on the Daily, that the 1.5850 acted as Support a few weeks back and are now presented with a small PB on the Daily at this level.

Due to the PB's location and the bit of Space it has (not on its Size), you decide to take it to the 1.6000 to see if it can get over and above the 1.6000 and maybe back up to the 1.7000 . . .to the moon.

It gets to the 1.6000 and you protect yourself by moving to break even or take half then to break even or free trade it, etc.

You do not take the full position off at the 1.6000 because remember our plan was to see if the consolidation will continue to the 1.7000 or at least to the 1.6500 . . .we're looking for that runnnnnner.

Now to the your question about managing this on the 4 hour time frame . . .
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  #72998  
Old Aug 27, 2010 2:14am
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Originally Posted by jarroo View Post

Now to the your question about managing this on the 4 hour time frame . . .
Looking at the 4 hour we have a PB (BEOB on your feed), not too bad . .nice size, off a BRN 1.6000, a bit of space and with the trend. Target . . previous bar high in green and/or the top of our Daily PB.

We know what a setup will do when it hits our FTA, it usually reacts. This 4 hour PB could have easily reacted as I have drawn (magenta line) but it didn't. A free trade could have given it more room with less risk but that too would have closed out with a net zero loss. So now we wait for a better setup to present itself.

Managing a setup on a lower time frame can be very misleading.
We know that Price doesn't move in a straight line . . its just part of the normal vicissitudes of the market.

Could you have ended your Bullish Daily PB by the 4 hour bearish PB . .sure you could . .but if the 4 hour PB hit its target then when to the 1.6500 or 1.7000 you wouldnt be srcatching your head. . .now would you ?
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  #73000  
Old Aug 27, 2010 2:39am
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Originally Posted by melvin87 View Post
Hi everyone, I'm very new to forex trading and am very lucky to have come across this thread and learnt more stuff on trading than any other sources that I've come across. However, I'm still pretty unfamiliar with a lot of things and would greatly appreciate if you guys could explain it to me.

Jaroo, I was looking at the daily and weekly charts you posted but I can't seem to figure out how there is a PPZ level. Could you enlighten me on this? Thanks

Hey melvin . . . welcome to the Thread.

I can see how the 1.5800 doesn't look like a PPZ level. More recently it has acted as a strong Support level on the Daily, Weekly and Monthly.

But if we look back in time on the Weekly and Daily we can see that it did act as a PPZ level. But more recently as a Support level.


Edit: Hey . . Thanks Pinbar . . .
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  #73004  
Old Aug 27, 2010 3:08am
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Originally Posted by Pinbar View Post
Great explanation Jarroo.

Still keeping up with the thread in this oven of a country.
Stay coool Pb . . .is summer almost over . .over there?


I guess it is almost over.. http://gojapan.about.com/cs/weather/...ateinjapan.htm
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  #73006  
Old Aug 27, 2010 3:19am
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Originally Posted by xmzhang View Post
Hey Jarroo,
Does this mean that for instance if you have a valid lower TF PA setup which would be moving counterwards against another valid higher TF PA setup which has not reach its FTA yet, it would be sensible not to trade the lower TF PA setup unless this lower TF PA setup is moving in the same direction as the higher TF setup ?
Yes . I will look at the Higher time frame for confluences with a lower time frame setup. . higher time frame PA that agrees with the lower time frame PA is one such confluence.
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  #73008  
Old Aug 27, 2010 3:29am
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Originally Posted by Pinbar View Post
Normally, we would be on the back end of summer with a few occasional 30C days. This year however, they think these 38C days will continue through September!


EU looks like something is about to pop.

Looks a bit choppy on the 4 hour . . Price has closed below the 1.2730ish PPZ level on the Weekly and Daily. Price has turned from Support to Resistance. This may continue . . we'll let PA show us the way at this level.
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  #73009  
Old Aug 27, 2010 3:48am
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Originally Posted by raczekfx View Post
What are the chances of gchf going to 1.6570 over the next few days?
... or to 1.5670?
Which is better probability?

.

SNB knows...

21_70

Hey Rac-man!!

. . . . . .I like the 1.6570 . .consolidation continues . . if we can show some supportive strength above the 1.5800 or 1.6000 . . I like its odds.

But it more Resistance grows from the recent reaction at the 1.6000 . . . as your chart shows . . look out below.


Good to see you Rac,


Jim
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  #73013  
Old Aug 27, 2010 4:00am
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Originally Posted by Chelski View Post
Looks like a Head and Shoulders pattern? Re test the neck line and down we go??

Possibly, especially if the price projection on a HnS is from the head to the neck line.
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  #73014  
Old Aug 27, 2010 4:05am
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Originally Posted by Pinbar View Post
Yeah, a quick look at M30 shows us why.
Price is stuck between the 365 & 150 and about to pop.

Just watching these lower TF though.

Like to see the PB forming on the Weekly to close above the 1.2730ish PPZ level. . .this may be a hint to where its going . But we know what weak or small PBs will do.
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  #73016  
Old Aug 27, 2010 4:23am
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Originally Posted by Imphilomath View Post
Hi gurus,

I have tried to draw SRs on this pair but not sure if I am correct.In some pairs there are beautiful ranges and PPZs. I felt I could not identify them in this pair. Just wanted to make sure I am doing it correctly. solid lines are majors and dotted line is PPz.


appreciate your comments.
cheers
Quote:
Originally Posted by mbqb11 View Post
Hey Imp

Looks good to me here would be mine for the daily and 4hr(the most obvious ones)
Identifying PPZ level are best done on the higher time frames as Mike has shown on the Daily. Look to the Weekly and even the Monthly to find them. Not only are they easier to find but the PPZ levels are much stronger.
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  #73017  
Old Aug 27, 2010 4:28am
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Quote:
Originally Posted by Chelski View Post
There is some confluence at this level. Tail of pin is 50% fib area and we have previous support late 2008 early 2009

Yes, the 50% retracement level is an added confluence that adds support to this potential setup.
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  #73019  
Old Aug 27, 2010 4:32am
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Originally Posted by Chelski View Post
And now we wait.............
Yes we do . . . http://www.freeworldgroup.com/games9...biewarfare.htm
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  #73022  
Old Aug 27, 2010 4:42am
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Originally Posted by joelcf View Post
Thanks to you, I got basically no work done this week

. . its addictive isn't it.


Hey joel . . have you ever seen this "documentary" called . the Billion Dollar Day.

The technology for what they do is hilarious compared to today but millions of dollars for penny moves . .wow.



don't know if the video is working . .just google the Billion Dollar Day or just click vidoeo posted . .its in five, 6 minute parts.
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  #73100  
Old Aug 28, 2010 11:57am
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Quote:
Originally Posted by mistersimple View Post
jaroo so how do they trade without charts?

Quote:
Originally Posted by Bollocks View Post
they dont need charts, their trading is very different to ours based on order flows on the exchange floors and on dealing floors based on commission.
I don't know how they do it without charts. lol

I guess they are just looking a big over flow, trying to find out what the big dogs are doing, then jump on their orders or ahead of their orders.

If they didn't have charting service, I would have a couple of guys plotting the OHLC on graph paper in the back room to see if a Big Daily PB just broke.


In Part c, at around the 4:50 time mark . .they talk about pushing Price up so they can sell it hard . . .isn't that a PB? . .lol
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  #73102  
Old Aug 28, 2010 12:14pm
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Originally Posted by ppfx View Post
In the begining of this week i was looking for the price to go to 1.25 (link) which seemed a good PPZ area, but i somehow intentionally overlooked the 1.2605-1.2610 area which i now found out its also a 50% fib retracement. It seems that the price is now stuck between the 1.2730 and 1.2610
Markets do like that 50% retracement (50% ret is not a fib). Add additional confluences and look out.

I do like the Weekly PB, it has good support location-wise, Spce and Size is a main concern.


That 1.25 sure looks juicy, multiple confluences at that level. Like to see Price get there. . .I sure Mike is watching this one.


Edit: I see Mike is . .
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  #73105  
Old Aug 28, 2010 12:31pm
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Originally Posted by xmzhang View Post
Hey Jarroo,
Thanx for taking the trouble for answering my question. Maybe you misread my message, I explained that I wanted to manage this trade on the 1H-TF and not on the 4H-TF, because by the time a PA on the 4H-TF has finished ones SL would have probably already been hit before that. The BEOB was generated on the 1H-TF right at the bar low (16054) of 23 august, not on the 4H-TF. The purpose was to daytrade a countertrend pullback at a swinglow of a strong downtrend on the daily TF. My intention was not to play the big range on the weekly just...
Sorry about that xmz, I thought the BEOB was on the 4 hour. My eyes have been going bad ever since I was on the wrong side of 40.

I thought the question was concerning managing a Daily setup on a lower time. My point was that if you do, it can be very misleading.

Meaning, trading a Bullish PB on the Daily then seeing a BEOB on the Hourly does not necessarily mean that the Daily bullish PB's move is now over. It just means that the Hourly BEOB may be short lived. . . meaning that it still could work out by hitting its FTA or traffic levels and then continue on in the direction of the Daily bullish PB.

Now if you took the Hourly BEOB as a totally independent setup on its own, that's great . . as long as it meets the strict criteria of a quailty setup. That's why is good to see what's going on . . on the higher time frames when trading on the lower time frames.
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  #73106  
Old Aug 28, 2010 12:34pm
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Originally Posted by mbqb11 View Post
hahaha I just watched the second part and I love the scene hes coming from his house in the country and he is staying connected to the markets in his car


hahah my how times have changed, that was such a great laugh

hahaha that's freaking hilarious . . . I like the BMW castte player . .they highlight it as if its really hot to have. .. lol
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  #73111  
Old Aug 28, 2010 1:22pm
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Originally Posted by Atc View Post
Hi Jim ...hope you don't mind me useing your chart...just having fun with paint program...seeing if this old fart can still learn how to use a computer program...never mind trade...I think they mentioned in the billion dollar movie that we would be done by age 40....in that case I should be taking my afternoon nap right now ...

I wanted to post this chart for a few reasons...I think we were showing last week how the beob and how a nice entry can be taken on a retrace and i can't remember if we discussed this pair(I am not as young...
Hey Bill

Yeah I was looking for the retrace of the Weekly BEOB to the previous bar Low at around the 1.3000 BRN, but it never got there. It did show a build up of Resistance at the 1.2900, which was a good place to look for bearish PA on the lower time frame.


Yes, the Weekly PB is pretty and small lacks much needed space, which could mean just a pause in its downward move from the Weekly BEOB.

A retrace to the left eye or off the 1.2730 PPZ level will tell me if this small PB has a chance to the FTA or at least a move to cover my risk. But for many . . . its an easy pass .
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  #73112  
Old Aug 28, 2010 1:31pm
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Originally Posted by Adilius07 View Post
I was trying to fix my Ipad today. And found only 2 decent apps: CNBC, Bloomberg. Oh ok I thought, those two are most popular anyway, too bad they have only Line and area charts.... and it dawned on me!!! The Perfect shaped BEARISH PB at the swing high WILL look (on the Line chart) as a Small dip in the bull run - perfect time to buy!!! WOW! Those investors using the "best" sources like CNBC, Bloomberg are looking to buy based on the fundamentals and that dip on the line chart??? and I'm gonna short it...

wow... or is it just me? ...

That maybe so on a Line chart, Adilius. But we like to see more of the story of that PB at a swing high. . .does it have any confluences that support it? is it at a BRN?, Where are the PPZ levels?, what does the higher time frames look like . .any PA up there that agrees with or conflicts with that PB? etc.

stuff like that . .
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  #73114  
Old Aug 28, 2010 1:40pm
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Originally Posted by Adilius07 View Post
Yes, of course I understand bar structure is just a part of a story. But my point was that those using these popular sources are almost immediately in the worst condition than me. Yes their analysis might work in long run etc. But just in that particular moment I have much more advantage over the mass... I am with the order flow... well sounds very nice to me this way, lol. and I think it is so too?
Yes you do Adilius . . more then you know . . .
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  #73117  
Old Aug 28, 2010 1:54pm
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Originally Posted by raczekfx View Post
Jim, my friend.
Is this lousy eur/chf tipping you off on g/chf....or ...
I wrote in details about it 12hrs ago...

Love it when plans work out...

TC
r
You were writing for the SNB ?? . .. .(just kidding . .lol)


No, I didn't look to the Eur/Chf, nor to the Usd/Chf . . . just looking for an area of layered confluence . . I wonder where . . or should I say who . . I learned that from . . . thanks Rac.

Could be heading down at the current levels but it Price pushes upward the current levels could provide a decent level to build support for a long .

. .wouldn't you say Rac?

Jim
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  #73119  
Old Aug 28, 2010 2:32pm
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Quote:
Originally Posted by Ace284 View Post
I made a video as I traded this setup live. Just posted it. Appreciate it if you guys check it out! Its a step by step live trade example. It's a mix of PA trading and confluence.

Quote:
Originally Posted by ghous View Post
I like the way you use your TLs and J16 ppzs to arrive at the "area of interest" nice concept, and a nicer video. Thnx a lot bud for sharing

g.

Wow . . great video Ace . .this guy knows his stuff.

I like that if Price didn't reach HIS level or area, he didn't take the trade. . . . let Price come to you. Also, how you based the management of the trade on the charts nothing else . .like outside influences as you mentioned. Nice . .

Just to throw some other confluences at you Ace . . . .


The 1.4350 level is a strong PPZ level as you can see on the Weekly and Daily. Notice that this Weekly Bar (red arrow) broke previous Support . .it closed with its Close below the 1.4350 (say that three times fast) . . this is a good indication that the 1.4350 level will now act as Resistance (thank you, James16).

The 4 hour showed other confluences with the 61.8 Fib and 365 ema, just wanted to note tha.t Ace.

Notice where Price finally took its dive . .1.4350 . . Higher time frame PPZ level.

Nice work Ace.

Jim
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  #73121  
Old Aug 28, 2010 2:37pm
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Originally Posted by jarroo View Post
Wow . . great video Ace . .this guy knows his stuff.

I like that if Price didn't reach HIS level or area, he didn't take the trade. . . . let Price come to you. Also, how you based the management of the trade on the charts nothing else . .like outside influences as you mentioned. Nice . .

Just to throw some other confluences at you Ace . . . .


The 1.4350 level is a strong PPZ level as you can see on the Weekly and Daily. Notice that this Weekly Bar (red arrow) broke previous Support . .it closed with its Close...

Also . .notice where Price retraced to on the Hourly BEOB . .the previous bar High . . then the previous bar low, which was a retest of the break . .
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  #73373  
Old Aug 30, 2010 10:48pm
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Originally Posted by Ace284 View Post
Thanks a million for your kind words and the vouch! Glad you find my analysis useful. Means a lot coming from a senior J16 member.


Yeah, its fantastic how all these things line up when it comes to an important point of reversal.
Its even better, when we take full advantage of it.
Its sure is great . . when things come together. This pair (Eur/Aud) has surely foretold its intentions on the Weekly for some time. . .as with other pairs as well.

It shows the importance of the seeing what's going on on higher time frames, like the weekly. This information is an edge that can anticipate some great trades on the lower time frames. . . .as you have shown , Ace.

Simply . . Res turns into Sup and vice versa at a strong PPZ level.
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  #73374  
Old Aug 30, 2010 10:57pm
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Originally Posted by Pinbar View Post
I have been thinking about how complex my charts are looking and I came up with this simple 3 line system to work out the FTA and possible areas of moving our SL. I actually think this is a good idea for me to work on.

Hope it helps any new people to the thread grasp the importance of the FTA and simplify identifying it.



Hey Pb remember this post . . .

Quote:
Originally Posted by jarroo View Post
The chart(s) we did in May was an exercise in plotting PPZ levels. Now here in Aug. we see that the PPZ levels we plotted on the Weekly Usd/Mxn are still acting like they always do. . . .as PPZ levels.

The Weekly BUOB off the PPZ level (12.45ish) worked out nicely, Yes?. The current PB is a bit small but let's see how she works out.

.

Pretty cool don't you think . . ?
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  #73377  
Old Aug 30, 2010 11:35pm
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haha it varies

I figured out how Mike is able to respond to post so quickly (on two forums, mind you) . . he uses more than two fingers when he types . .just a guess . . lol
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  #73481  
Old Aug 31, 2010 7:27pm
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You were writing for the SNB ?? . .. .(just kidding . .lol)


No, I didn't look to the Eur/Chf, nor to the Usd/Chf . . . just looking for an area of layered confluence . . I wonder where . . or should I say who . . I learned that from . . . thanks Rac.

Could be heading down at the current levels but it Price pushes upward the current levels could provide a decent level to build support for a long .

. .wouldn't you say Rac?

Jim
They could not find Support . .too much confluence . . Price could not resist but to head down (pun intended) . .

Thanks Rac-man,


Jim
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  #73485  
Old Aug 31, 2010 8:12pm
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LOL, dude I recorded a video of this trade as it went on. Jim, feels like your reading my mind lately! Looking at the exact same confluence zones. Anyway, the video is currently rendering and processing, i'll post it up once its done for your viewing pleasure.

Cool Ace . .I'll check it out.
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  #73486  
Old Aug 31, 2010 8:18pm
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LOL, dude I recorded a video of this trade as it went on. Jim, feels like your reading my mind lately! Looking at the exact same confluence zones. Anyway, the video is currently rendering and processing, i'll post it up once its done for your viewing pleasure.

No big surprise here on the Eur/Aud . . .Like to have seen it touch the 1.4350 PPZ level (RES) with better PA . .but muliple confluences do Rule.
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  #73489  
Old Aug 31, 2010 8:35pm
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J16 Senior Member cczar
 
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Quote:
Originally Posted by Donkey View Post
xmz...I believe this may be the type of BEOB you are speaking of trading? In this case playing break would be about 200 pips lower than the swing high of 90.
Good example D.


Big Bars brings Big Momentum . . and when they are confluenced with a Swing High (or swing Low), PPZ levels, BRNs , Retracement Levels, etc . .and even when they're not . . they can show the strength of their Mighty Mo . .
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Indicators show the past. Price Action "Indicates" the future.
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  #73491  
Old Aug 31, 2010 8:51pm
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Anyone still in the Gpb/Usd Weekly DBHLC?
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