james16 Chart Thread
As nobody seems to have answered you, here is MHO.
If you put a fibo on USD/JPY from the swing low 91.47 to the swing high 94.97 you can see that you sold into it at the major reversal fibo of 50% with confluence of the 25 EMA (RED).
PS: if we look at the H4 we can see 93 is a flip area where price has bounced several times and there are a few PPZ around it.
.
Shorted from UPTOP - Liquidated my shorts and took profits @ area of possible reversal.
Entered sell orders underneath a key support area.. and took her all the way down.
14020 hit....
And still goin?? hehe..If I had that many lines on my chart, I bet price would hit a couple of them too
this is the best setup of the day in my opinion. we will watch!
As nobody seems to have answered you, here is MHO.
If you put a fibo on USD/JPY from the swing low 91.47 to the swing high 94.97 you can see that you sold into it at the major reversal fibo of 50% with confluence of the 25 EMA (RED).
PS: if we look at the H4 we can see 93 is a flip area where price has bounced several times and there are a few PPZ around it.
Hope this helps.
Hey s123456.
As pinbar mentioned , there are a few areas in the way of this one charging out of the gates with little draw-down
Setups like this, you have to realise, are likely to head into draw down for a while as they ricochet off multiple s/r zones. The same zones that kept me out of entering (as per my posts earlier)
Taking that into account, for this type of trade , yes ...you exited too soon.
Definitely the best way to get a hang of this type of trading is to place your stop on the other side of the setup, size your position appropriately...
Hi PB,
Thanks so much for replying my msg. Yeah, this thread is moving so fast that maybe my post is overlooked.
You're very right about the 50% fibo, I just didn't take notice of it, coz I just looked for fibo to support my trade, but not the other way round. When I drew the fibo myself again, yeah, it was exactly that 50% fibo that acted as the resistance.
Again, many thanks for your reply and valuable comments.
)
NP.....I do the same thing all the time. LoL
As they say, it is better to look for reasons to not take a trade than reasons to take a trade.
I have to make that my Mantra.
Wishing you good trading.
Something that i'm trying on Demo.
EURGBP 26H PB.
That PB is smaller than the bar before it, ATR for that TF is about 70 pips, that PB was 100 pips from the high to the low.
FTA at 0.86
why not the 4hr buob as above 
