james16 Chart Thread

Quoting Tiki Trader

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OK... here is my final chart of GBP/JPY for this year...

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Quoting raczekfx

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I zoomed it in and noticed a bounce around 203, is that correct Tiki?

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Quoting mbqb11

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Just want to wish everyone a very happy new year.

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Quoting raczekfx

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Fundamentals are important.. however I see it getting heavier every day...
it could be gathering more strength for another push higher, but I'm leaning towards the idea that we're heading down at least 60ps... will see.

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Quoting joeblack

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what do u think of this setup guys?

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Quoting eroyh

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Hello Giu,
Sorry I haven’t gotten back to you any sooner, but the holidays and other commitments have kept me otherwise occupied. I only type 15-20 WPM and it can take 15 min for a simple post. I have committed to bump that up to 40-50 WPM this year so I can make simple posts without it being a major undertaking, and be able to more easily do a ton of other things. I always felt you could hire someone to to do that stuff, then the computer revolution hit. My son grew up on the computer and by the time he was 10 he could type so fast I used to swear he was just hitting keys as fast as he could. I forget how old he was, but he was still in elementary school, I told him he could have a gerbil if he would type a 5000 word essay on the care and handling of gerbils. I just knew that was the last I would hear of those nasty little rats. I soon had to decide whether my promises to my son were worth a darn. He got his rat.

When I trade I have 2 charts of each pair, one naked and one with MA’s, fibs, trendlines, PPZ’s, and weekly and monthly pivots. The major MA’s I use are 50, 150, 200, & 365. I have also recently experimented with a combo of a 5 EMA on the close and a 8 EMA on the open. Not major I know but interesting anyway. Having said that, I am going more and more toward trading naked and using basic price action, such as pinbars, bullish and bearish outside bars, inside bars, S/R (including PPZ), trendlines, peaks and troughs, 1 2 3’s, head and shoulders and break outs of consolidation and/or channels. I have learned so much from the J16 thread. I even have joined his private forum. It costs a pretty penny, but I think of it as some of the best money I have spent. I spent over $50k, 25 yrs ago to finish school, but it has supported me since, so money well spent. The money I have spent trying to get a handle on this trading thing is a mere drop in the bucket. You can work out much of the pain of learning on a demo account for free.

The really good pinbars don’t happen a lot on the daily or weekly TF. Take the Euro on Interbank for the last year on the daily TF. Jan had only one which would rate a B or B+, on Jan 16 due to it was in congestion. I would have lost $ there as I would have taken it as a continuation of the daily trend. Feb had 3 marginal pins, certainly none near an A+. Mar 19th & 20th were beautifully shaped pins but sadly lacking in size and positioning. Not even close to an A+ in Apr. May had a tiny one (nowhere near an A+) on May 7th that would have paid off well if taken. May 29th was technically a pin but was in congestion and the open/close was exactly 33% from the low, so certainly no A+. May did have a perfect pinbar by proxy on May 10/11 which would have paid off nicely and very close to one on May 15/16 which also would have been a money maker, but those are still above my pay grade. June 1st began the month with a nice pinbar, but not A+ as its tail was too short. It still would have been a money maker. I don’t know if you could call June 13th an A+, but certainly an A (its body was only 52 pips long, but its 14 period ATR-average true range- was only 59) and that week was also a nice pin on the weekly TF. It began 5 straight weeks of bullish bars. There was another A-A+ on June 27th which made nice pips. July 5th is not technically a pin as the open is 36% of the bar from the low but I think I would have taken it. Certainly no A or A+. I would use July 3rd for eye determination because of the July 4th holiday and would be real tight on my stop. If I had taken either of the June pins I probably wouldn’t have taken it as my stop would likely have been just under the last nice up bar on July 2nd. The next decent pin was an absolutely be u ti ful pin on Aug 16th which ends a swing low on the daily and weekly TF’s. There is a nice trend continuation pin on Sept 4th, but not an A+ as it is in congestion. Oct 5th has a great shape, but is never consummated. Nov 23th is marginal (36% open to low) and would be triggered by an A pinbar going the opposite way on the 28th, which incidentally was a never triggered. The 23th pin could have returned nice pips. Dec only A+ was on the 23rd, but was a loser.

So to answer your question they sure don’t happen very often, but there are a lot of pairs and if you can be in front of your computer enough the 4 hr TF offer a lot more and can pay off nicely. Your stops won’t be as large on the 4hr TF but if you trade a certain % of your account balance trading on the daily and weekly TF shouldn’t matter. If one was very patient, one could trade only pins and do quite well and that’s not considering that trading pins in the futures markets works nicely, I am told.

I was almost through with this post and my power went out and I lost all I had typed. Next week I will buy that backup power supply I have been meaning to get. I typed it this time in word so I could save it, as this was a……a longer than I want to admit project. I believe more strongly what I read in other posts where they say that by helping others they are really helping themselves. I got plenty (for me) of practice typing and it helped me to focus what I have been learning about these subjects. It also made me realize that when I said previously that I only take A+ pinbars I was being a little untruthful with myself. It also illustrated that a less than A+ can be a big winner and an A+ can be a loser.

Two other threads that I really like and are helping in my pursuit of nudity are The System (Irony Included) and Peaks and Valleys (Trading Naked).

I hope you have a happy new year with tons of positive pips.
Roy

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Quoting Jared

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Ok, I have heard enough good things about this thread to give it some serious consideration. I have lurked about a bit, but haven't spent a ton of time on it. Reason being it is so darn long it intimidates me!

Actually, I was all ready to sign up for the private forum, but alas, to my dismay it is closed to new members. I thought this would be the place to start and learn the most important aspects of this thread.

So plan B is see what I can get through the public thread. Hmmmm. Do I start at the beginning and just painstakingly read the whole 8512 posts Or is there any sort of summary contained here or elsewhere that covers the main points for me to get started on?

Perhaps there is somebody in this thread who has kept track of important relevant posts that they can point me in the right direction to. I put important posts in my favorites to keep track, it really helped after going through 1000+ posts of the Fibonacci Trading thread (narrowed it down to a much smaller list of relevant posts).

Maybe there are some other resources/reading material/books that go into more detail about PA as taught in this thread.

Is anybody willing to help me out? Where do I start?

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Quoting nico28

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4 hour USDJPY broke Trend line and form a potential pin bar. Going down to 60min, a potential pin is taking shape, another 16 min b4 close of this bar.
Look to sell at 10 pips below low of hourly pin bar if formed. Target 110.70, next target 109.70, and final target 108.80.

Any comments ?

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Quoting TradeStar

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I agree Jatis. But my problem was I entered on the trend line break before the BEOB was formed. Once we see the BEOB is formed; yes, a break below that is the way to go, especially around the upper trend line.

Thanks,
TradeStar

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Quoting eroyh

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It also made me realize that when I said previously that I only take A+ pinbars I was being a little untruthful with myself. It also illustrated that a less than A+ can be a big winner and an A+ can be a loser.

Two other threads that I really like and are helping in my pursuit of nudity are The System (Irony Included) and Peaks and Valleys (Trading Naked).

I hope you have a happy new year with tons of positive pips.
Roy

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Quoting joeblack

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what do u think of this setup guys?

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Quoting Jared

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Ok, I have heard enough good things about this thread to give it some serious consideration. I have lurked about a bit, but haven't spent a ton of time on it. Reason being it is so darn long it intimidates me!

Actually, I was all ready to sign up for the private forum, but alas, to my dismay it is closed to new members. I thought this would be the place to start and learn the most important aspects of this thread.

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