Yeah but thatīs ok, I like your analyses, youīre picky and thatīs always rightI touchtraded from this confluence with 1/3 positionsize, had to try it. I mainly trade daily so that was new to me.
Thanks J16, Sam Seiden, Udine and Jacko
james16 Chart Thread
- #63,283
- May 10, 2010 1:29pm May 10, 2010 1:29pm
- | Commercial User | Joined Dec 2006 | 1,085 Posts
I also agree
James says we must trade the only standard pinbar on the daily chart.
But some also trade pin bars on the 4H chart.
is a profitable strategy?
Yes it is very profitable if you are very selective in terms of which ones to take.
It is also very easy to lose money 6 time faster than you would on the daily if you don't know what you are doing
- #63,285
- May 10, 2010 2:50pm May 10, 2010 2:50pm
- | Commercial User | Joined Dec 2006 | 1,085 Posts
to mike and fx
my question was theoretical
since I discovered you, only look longer tf
thank you so much for the availability
A wise choice while learning the material
Hope it goes well.
- #63,290
- May 10, 2010 4:01pm May 10, 2010 4:01pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Yes.......
.
Some bullish PA would be nice there nasir . . . if it gets there.
Notice the tests and retesting of the Targets and/or FTAs on the lower time frames. Targets and/or FTAs were selected from the time frame that the setup was present, 8 Hour time frame.
Why can't they all behave like this one. Should be fun to follow this one, just to see if it behaves properly.
Indicators show the past. Price Action "Indicates" the future.
- #63,291
- May 10, 2010 4:22pm May 10, 2010 4:22pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Superb, let's react accordingly too, thanks
No surprise here, right jeur?
Indicators show the past. Price Action "Indicates" the future.
- #63,292
- May 10, 2010 4:35pm May 10, 2010 4:35pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
I like that one as a bigass with-trend pinbar on a breakout failure w MA/PPZ rejection and packing more momentum than a fat chick at half price-buffet night
If we can break through the 1.0200, I see Price going for the 1.0 for seconds (or is that thirds and fourths) lol
Indicators show the past. Price Action "Indicates" the future.
- #63,293
- May 10, 2010 4:51pm May 10, 2010 4:51pm
Nice 8 hour PB on the Usd/Chf this morning. A bit of traffic but a nice rejecton of the 1.1000 and a hard break.
Notice the tests and retesting of the Targets and/or FTAs on the lower time frames. Targets and/or FTAs were selected from the time frame that the setup was present, 8 Hour time frame.
Why can't they all behave like this one. Should be fun to follow this one, just to see if it behaves properly.
check out 8hr eurusd, 8hr eurchf, etc
kind of tired, need to sleep....
ill post some charts later
btw, theres a + at the end of my name , what does that mean
Simplicity is the key to success
- #63,294
- May 10, 2010 4:54pm May 10, 2010 4:54pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
yup, a no brainer trade here J
check out 8hr eurusd, 8hr eurchf, etc
kind of tired, need to sleep....
ill post some charts later
btw, theres a + at the end of my name , what does that mean
Nice on the euro , off the 1.3.
"+" by your name . . .your on your own buddy list.
Indicators show the past. Price Action "Indicates" the future.
- #63,295
- Edited 5:57pm May 10, 2010 4:59pm | Edited 5:57pm
Hey Joel,
IPB is played by entering at the close of the bar unlike 'regular' PBs.
(ignore the crap on my chart)
You have a strong uptrend, which means you are going to want a pretty damn good bar to setup a fade here.
And then, at the top, we have a small pause bar (open and close are almost the same, so there was no net movement) and it closed near the TOP of its range. Which means, while it had bearish strength at some point, it closed with bullish pressure.
Nothing about that really screams 'short' to me.
Let's look closer.
Looks like a double top to me, that closed bullishly...
...with a retest to the middle dip...
... and a breakout.
As I said, I am long all day here if I'm scalping. 'Rules' or not. If you are trading that on the basis that it 'should' retrace to the bottom of the IPB, you are effectively trying to play the bounce from the double top to the bottom of the channel. Not really what I would do in a strong uptrend, especially with no bearish PA.
When you have to shoot, shoot. Dont talk.
- #63,298
- May 10, 2010 5:10pm May 10, 2010 5:10pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Nice looking PB on the 8H TF (EURJPY), we have got some strong PPZ right on the BRN of 120.0.
This setup was taken of MT5 platform.
FTA was in the flip of high/low (Blue rectangle), moved to BE just few pips above that area.
Final result was BE.
Yaniv
Indicators show the past. Price Action "Indicates" the future.
- #63,300
- May 10, 2010 5:18pm May 10, 2010 5:18pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Thank you Sir, i'm most honored to see your post with regards to my setup.
Yaniv
James16 would have traded it the same way.
Although he would have put some pips in the bank, of course.
Indicators show the past. Price Action "Indicates" the future.