james16 Chart Thread

Yeah I didnt mean to sound aggressive..

no, as I think 1.02 is due..
... watching pa on 4hr (a/u, n/u, g/chf)..

sorry to bother you guys........

i noticed 4Hr pinbars for both Aud/Usd and Nzd/Usd but i decided not to trade them as while they're formed after prolonged periods of uptrend but the support trendlines for both pairs are quite close since the uptrend has been steep so my query is this.......

am i too cautious or should i have traded them both ?

Creating Pb.....waiting For Short Is It Ok Guys?

This might be a good entry if the pair is going to be continuing downwards (which is a strong posibility). Price already made a big move down, retraced, and made that pin.

But I would be very careful trading 1H pins (or the 1H timeframe all together).

Tom

No worries, nice trade

hi all

thanks alot.....one more question when i trade pb i should for ret from the right eye or i should enter when the pin breake?

Thanks
Shay

Here's a great way to play pb's, with accuracy. It's how I do it anyway.

thanx

Hi Guys

WHAT DO YOU THINK ABOUT THIS?

IS IT GOOD PLACE FOR ENTER?

WHERE SHOULD I PLACE MY SL...?

SORRY FOR MY QUESTIONS I AM TRYING TO LEARN THIS PA...

Thanks
Shay

If that's the case.. I'd move up few TFs...
Last good entry based on PA was around 112.20 with sl above 114.70 according to my charts.

Yes this trade for the long term is greate but i was talking on hourely trade...to take few pips close sl and big leverage....

My ALARM ALERT WENT OFF :

Shay, listen to Racz and James when they say trade the higher timeframes. Learn to be profitable off the daily/weekly with proper Money Mgmt. They say it b/c most trade the lower timeframes, and don't even give themselves a chance to stick around this long-term.

The reality is you must treat this like a business, and take the proper steps to help give you a chance at success. Because even with taking the proper steps, there still are no guarantees.

Learning PA on the higher timeframes, is not only easier, but less stressful and very rewarding.

James has a bunch of posts in here and on the new website(guest) about treating this as a business and what he calls "minimum requirements"

Such as demoing for 3 months consecutive profitable, larger timeframes etc. I can PM you the link if you want.

It is really important advice, and those of us that have followed it have been rewarded

Take care!

Mike

Shay here is a trade on the daily timeframe, all the things James teaches. Pinbar at a swing high.


The beauty of this? I check it at the close of the daily each day and it takes me less then 5 mins to decide to move my stops to lock in profit. You have plenty of time to analyze your trade, and not make emotional in the moment decision. On the lower timeframes, you have to have your eyes and mind trained to act and react to situations fast. Train on the weekly daily.

You don't need to trade the lower timeframes. But if you can do it on the higher timeframes, and want to move down in timeframes, that is the progression you should take.

Just trying to illustrate the point for not only you but others new to PA. It is a crucial one.

Hi Mike,

First of all thank you very much...i know and understand what you saying...i have already working as you said but there is alot of great trades in the lower time frames it is just like throw money not to take them..., i am not new in the market i am trading about a year and i want to add PA to my tools...it seems to be working, every trade i have done with the PA is profitable so i like it , i read almost all of this thread but i still need help to aplly this tool i want to do it correct....if you are saying for now not to use it in lower time frames thats what i am going to do...about the link-yes i want it more information better trades.....thank you very much mike .

P.S

i asked question before about trade on usd/jpy...can some one answer me please...just for the knowlege.

Thanks you all
Shay

First chart is the hourly zoomed out

You can see things have been a bit choppy but overall the choppiness has gone up. So taking a pinbar short, you have to fight a lot of this chop. Being the hourly you have even more noise.

The orange line represents where price has been flipping from support to resistance. If you see your pinbar stalled right on this area, no surprise here really.

Also your pinbar a couple bars later there was a counter pinbar. Another sign to get out of this trade.

But what I want to talk about is the pinbar you took was in the middle of traffic(blue arrow pointing sideways). We want to look for this pinbars at swing high and swing low. For example the red arros are swing high and lows respectfully. Granted only the swing high is almost a pinbar, I just wanted to show the "where" we should look for these bars.

So if you are going to trade the hourly, look for the best pins also. Too many opportunities to waste on iffy ones

Mike

mike,

lets say you got into this trade where would you place your SL?

and where is the link.....?

thanks....
Shay

The stop loss would always be above the pinbar(in this case the high), and entry would always be the break of the low of the pinbar.

I will PM you the link


Mike

ah you can't receive PMs yet. Go to the james16 website and then go to the guest area. Then go to Minimum Requirements link.

http://www.forexfactory.com/showpost...postcount=3196

Hi guys, an alternative way to have traded the CAD weakness we have seen since last Friday was via a nice little PA set up in CAD/YEN. This cross has struggled at the strong ppz resistance 107.90-109.40, and in so doing formed a bearish rising wedge pattern. Last Friday's PA saw a BEOB, followed by an IB this Monday. Today's action saw both these triggered and the bottom TL of the wedge broken.