Anyone in the NZD/USD Pin bar short on daily, looks like the patience is paying off its broke through 0.6700, breaking the pin bar. 
I hear and I forget. I see and I remember. I do and I understand.
james16 Chart Thread
- #40,582
- Aug 11, 2009 6:09am Aug 11, 2009 6:09am
Very nice Mark. Who said Price is unpredictable. Looks like it went right where we thought it would and reversed and then to the next place we thought it would. ( I think that's a run on sentence. lol )
LOL. Was so tired this morning so decided to go back to bed.. Woke up 4 hours later and saw my TP was hit just above 1.08!
If only trading was always that simple
Time for a new chapter
- #40,583
- Aug 11, 2009 6:31am Aug 11, 2009 6:31am
Anyone in the NZD/USD Pin bar short on daily, looks like the patience is paying off its broke through 0.6700, breaking the pin bar.
I caught it on a retrace back up
Dr. C
- #40,584
- Aug 11, 2009 6:36am Aug 11, 2009 6:36am
I am still in mine
Me too, its hanging around the lowest low before the space down to the highs, if it can just break down then I see it running another 40-50 pips.
I hear and I forget. I see and I remember. I do and I understand.
- #40,585
- Aug 11, 2009 8:29am Aug 11, 2009 8:29am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Anyone in the NZD/USD Pin bar short on daily, looks like the patience is paying off its broke through 0.6700, breaking the pin bar.
Mike
- #40,586
- Aug 11, 2009 8:55am Aug 11, 2009 8:55am
This was definitely a test of patience for you guys that got in on that retrace. Here is the first clear trouble area(I had watched this for the 4hr pin that occurred late on the IBFX feed)
Mike
Yeah those bar highs will no doubt cause price some trouble, a good time to move to break even or take partial profit or full profit depending on your ma.
This is my 4th trade and looks like being a winner, which woudl be 4 out of 4 if I had been able to close my holiday trade when it was up 200 pips
. This stuff is looking like it works, they key is money management and trade management.Good pips
Mark
I hear and I forget. I see and I remember. I do and I understand.
- #40,587
- Aug 11, 2009 8:58am Aug 11, 2009 8:58am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Cheers Mike,
Yeah those bar highs will no doubt cause price some trouble, a good time to move to break even or take partial profit or full profit depending on your ma.
This is my 4th trade and looks like being a winner, which woudl be 4 out of 4 if I had been able to close my holiday trade when it was up 200 pips
Good pips
Mark
Yep it is there for the taking for those that want it. It isn't an easy road, it would be lie if I said everyone or even close to that makes it. But for those that put in the time, are open to new ideas , and open to changing themselves a bit. It is there .
Hope you had a good holiday
Mike
- #40,588
- Aug 11, 2009 9:03am Aug 11, 2009 9:03am
Great Mark
Yep it is there for the taking for those that want it. It isn't an easy road, it would be lie if I said everyone or even close to that makes it. But for those that put in the time, are open to new ideas , and open to changing themselves a bit. It is there .
Hope you had a good holiday
Mike
Yeah, the key Jims stuff on page 1 if your prepared to do that and you have some brains then it certainly puts you on the path to success.
Great holiday, thanks Mike.
I hear and I forget. I see and I remember. I do and I understand.
- #40,589
- Aug 11, 2009 9:31am Aug 11, 2009 9:31am
hi guys
this is my first post. i have been following the james 16 method for just over 6 months now. i have been successful on demo and have now opened a live account.
at present i am only trading weekly, daily and 4hr charts.
I am trading with a quite a large account therefore iam trying to be picky. however i got tempted into placing a short on aud/cad 4hr (ibfx feed)
Pros
Weekly ppz – 0.9150
61.8 fib
Bit of a DBHLC and 8 hr pin as well.
Cons
No other confluence
Difficulty in predicting where price will next have trouble once pin breaks.
any comments are appreciated.
ps.
a big thank you to james, mike and everyone else that contributes on this amazing thread that has changes my life.
this is my first post. i have been following the james 16 method for just over 6 months now. i have been successful on demo and have now opened a live account.
at present i am only trading weekly, daily and 4hr charts.
I am trading with a quite a large account therefore iam trying to be picky. however i got tempted into placing a short on aud/cad 4hr (ibfx feed)
Pros
Weekly ppz – 0.9150
61.8 fib
Bit of a DBHLC and 8 hr pin as well.
Cons
No other confluence
Difficulty in predicting where price will next have trouble once pin breaks.
any comments are appreciated.
ps.
a big thank you to james, mike and everyone else that contributes on this amazing thread that has changes my life.
- #40,590
- Aug 11, 2009 10:12am Aug 11, 2009 10:12am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
hi guys
this is my first post. i have been following the james 16 method for just over 6 months now. i have been successful on demo and have now opened a live account.
at present i am only trading weekly, daily and 4hr charts.
I am trading with a quite a large account therefore iam trying to be picky. however i got tempted into placing a short on aud/cad 4hr (ibfx feed)
Pros
[color=black][font=Verdana]Weekly...
(congrats on that btw).This is a tough pair to trade for me. It is overall very choppy(goes with the con you wrote about difficulty in where price might bounce). I can't remember the last 4hr trade I had here, I like the choppier pairs on the daily / even the weekly(sort of like a choppy intraday equity you could say
).Best
Mike
- #40,592
- Aug 11, 2009 10:47am Aug 11, 2009 10:47am
- Joined Nov 2007 | Status: Conscious Incompetence | 3,274 Posts
Don't wish it were easier, wish you were better. ~ Jim Rohn
- #40,593
- Edited 11:31am Aug 11, 2009 11:02am | Edited 11:31am
Since we are talking about patience, there is the beautiful CAD/CHF weekly PB.
It broke down at the end of last week, but had a quick retrace up, then a daily shy kind of Pb at the round No. 1.00 , which gave confidence to stay and add to my position as I remembered that Seekinglight once said that quite often the PB will come back to take the late passengers in it's nice trip. I am sure that many of us are enjoying the trip so far.
It's weekly , so it teaches patience and how to believe in the setup.
P.S thanks Seeking, and thanks again to Mike's for the early entry, that makes the trade much easier to manage.
It broke down at the end of last week, but had a quick retrace up, then a daily shy kind of Pb at the round No. 1.00 , which gave confidence to stay and add to my position as I remembered that Seekinglight once said that quite often the PB will come back to take the late passengers in it's nice trip. I am sure that many of us are enjoying the trip so far.
It's weekly , so it teaches patience and how to believe in the setup.
P.S thanks Seeking, and thanks again to Mike's for the early entry, that makes the trade much easier to manage.
- #40,594
- Aug 11, 2009 11:09am Aug 11, 2009 11:09am
- Joined Nov 2007 | Status: Conscious Incompetence | 3,274 Posts
Don't wish it were easier, wish you were better. ~ Jim Rohn
- #40,596
- Aug 11, 2009 11:58am Aug 11, 2009 11:58am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Hey Guys,
How's life?
Just walked in with my monitor and set it up. (I still have my old friend with me)
on to the catching up part now...
EDIT: Nice trade on the Gu those who went for it.
g
How's life?
Just walked in with my monitor and set it up. (I still have my old friend with me
)on to the catching up part now...
EDIT: Nice trade on the Gu those who went for it.
g
I believe . . .
- #40,597
- Aug 11, 2009 12:01pm Aug 11, 2009 12:01pm
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Update
Well, the pin did break and went to where you'd expect. Stopped out at BE+1
PinBar is technically still in play, but going to stand aside, for now. Bias is still long.
But your trade management was commendable.
That is what needs to fill in for less than A+ setups,
Good stuff LVG
I believe . . .
- #40,599
- Aug 11, 2009 12:08pm Aug 11, 2009 12:08pm
Hey Guys,
How's life?
Just walked in with my monitor and set it up. (I still have my old friend with me
on to the catching up part now...
EDIT: Nice trade on the Gu those who went for it.
g
Hey mate. Good to have you back
- #40,600
- Aug 11, 2009 12:09pm Aug 11, 2009 12:09pm
By the way, just want to confirm a few things:
Types of PA to trade (not talking about multi bars like what some does - Anyway Multi bars are 2 bars or 3 bars combined to form the basic PAs we trade right? )
1) Pin Bar
2) DBHLC, DBLHC
3) BEOB, BUOB
4) Inside bars (but I don't trade it often now)
Anything else I am missing out?
Types of confluence to look:
1) PPZs (if a line only have a swing high - Resistance - Is it considered as a PPZ?)
2) MACD Divergence
3) Fibs
4) 365 EMA
5) 150 EMA
6) Trend line
Things to look out for:
1) Traffic (Meaning are we trading into a messy area with lots of highs and lows as taught by Jarroo ie SPACE)
2) Timing - Meaning that if the PA occurs during the mid day of the USA Session, I will not take it cause there isn't much volatility.
Anything I am missing or am wrong? If so, please add on to this post.
It seems there are more and more things to look out for and it may be bringing me to Paralysis
P.S. Thanks to everyone replying to my previous posts. I have glanced through them but had a busy day so no time to delve deeply into them yet - Will work on it tomorrow. Just wanted to say thanks to all that took time to answer me.
Types of PA to trade (not talking about multi bars like what some does - Anyway Multi bars are 2 bars or 3 bars combined to form the basic PAs we trade right?
)1) Pin Bar
2) DBHLC, DBLHC
3) BEOB, BUOB
4) Inside bars (but I don't trade it often now)
Anything else I am missing out?
Types of confluence to look:
1) PPZs (if a line only have a swing high - Resistance - Is it considered as a PPZ?)
2) MACD Divergence
3) Fibs
4) 365 EMA
5) 150 EMA
6) Trend line
Things to look out for:
1) Traffic (Meaning are we trading into a messy area with lots of highs and lows as taught by Jarroo ie SPACE)
2) Timing - Meaning that if the PA occurs during the mid day of the USA Session, I will not take it cause there isn't much volatility.
Anything I am missing or am wrong? If so, please add on to this post.
It seems there are more and more things to look out for and it may be bringing me to Paralysis
P.S. Thanks to everyone replying to my previous posts. I have glanced through them but had a busy day so no time to delve deeply into them yet - Will work on it tomorrow. Just wanted to say thanks to all that took time to answer me.