DislikedHi Mike,
Thanks, advice taken coz it makes sense to me.
maybe, I need to know the criteria for defining a Pin bar, would u plz help me?
Thanks
Mike(Naijafx)Ignored
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Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedHi Mike,
Thanks, advice taken coz it makes sense to me.
maybe, I need to know the criteria for defining a Pin bar, would u plz help me?
Thanks
Mike(Naijafx)Ignored
DislikedHey Naija
Be real careful here, I think this is stretching things a bit. Firstly the pin on the hourly didnt have a close within the prior bar so technically it is not a pinbar. Secondly it has been 4+ bars and the low was never broken. This is often a sign of a lackluster pin. Most people cancel their order if it doesn't break on the next bar or maybe 2 bars. I would just be careful here as maybe this will give some pips to you, but I think there are better trades to wait on the sidelines for.
Just my views
MikeIgnored
DislikedHi Mike,
Thanks, advice taken coz it makes sense to me.
maybe, I need to know the criteria for defining a Pin bar, would u plz help me?
Thanks
Mike(Naijafx)Ignored
DislikedHi guys, I've been reading this thread october (I think)...well I've been trading this style for about 2 months and Im at breake even due to My fear to give to the market what I've taken from it. (Yes I know "let winners run and cut loser fast").
I got no major problem getting good entries, but my real problem is where take profits...so I will post my first pic here to show you What I consider a good trade (following experienced J16's traders).
PB at confluence of 150 and 350 MAs and 61.8 FIBO level.
I put a buy stop 10 pips above top PB...Ignored
DislikedSorry i can't posts charts right now. Could you post a Daily Chart with its PPZ levels?Ignored
DislikedOK. Here you go...both 4H and D1.
Watting for suggestions....
Thank you....Ignored
DislikedCould you try it again and remove the fib levels and daily pivot levels. Just the PPZs.Ignored
DislikedCould you try it again and remove the fib levels and daily pivot levels. Just the PPZs.Ignored
DislikedDamn. That's was a good divergence trade at that high a couple of days ago too. lolIgnored
DislikedDamn. That's was a good divergence trade at that high a couple of days ago too. lolIgnored
DislikedThanks Bundy (as always).
Forgot who took the short break of a I4B (different platform) at that level. looking good.
trujill: Most of what James16 teaches (and preaches) stems from the higher time frames of the Daily and Weekly. So alot of our analysis starts there.
The 4 PB and the confluences you mentioned are very good. PB (imo)is just to small compared to the largeness of the recent down move. This past year has shown that even on the Daily time frame, PBs have failed after such a large move.
The Daily PPZs that I have drawn would...Ignored
DislikedThank you, so would you recommend start my analysis on daylis (or maybe weeklys)???
Due my native language is not english (Native is Spanish) could you tell me what PPZs and IMO means?
One last thing, where you recommend to look for take profit on this trade?
thank you...Ignored
DislikedHi bundyraider, could you please explain me what "divergence" means?
Some example....???
Thank you....Ignored
DislikedWow, your english reads better then mine.
As you read more of this thread you will fine more of your answers to your questions.
PPZ: Price Pivot Zone
IMO: In My OpinionIgnored
DislikedHi Trujillo, Here is the same chart I posted but with divergence highlighted (IN bright yellow)
The top yellow line on the price chart is sloping upwards, but the other yellow line marked on the MACD down the bottom is sloping down. The two have are heading in different directions.
This adds strength to any short signal.
THe following link has an explanation : Divergence Information (About halfway down it's page... )Ignored
DislikedThank you, so would you recommend start my analysis on daylis (or maybe weeklys)???
One last thing, where you recommend to look for take profit on this trade?
thank you...Ignored
DislikedHere is an update on the CHF/JPY trade. Go, go, go! This pin bar business really does work, huh?Ignored