james16 Chart Thread

Quoting Dan Gilbert

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maybe it's because the currencies have not been friendly, maybe it's the wild whips in the markets right now, maybe it's just the lines I have drawn on my chart as "trouble areas", but I don't see anything good about any of today's pins.....

As much as I would like to trade them, I see no real A+ opportunity here. (the only one I KIND OF like is USDCAD, and that I would have to play with a very large buffer, making the trade not very attractive, once again)

I don't like to discourage people from at least trying things, but I'm just giving...

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Quoting Pinbar

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Good morning people.

Yes, I was going to ask how we setup our charts on a pair such as this where PA is going where NO PA has gone before.

I suppose all we rely on are round numbers?


I imagine, the brakes going on like that mean that a lot of people are afraid to sell it even further and have been taking profits.


EDIT: I think Bundy answered my question before I asked it.

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Quoting mbqb11

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I agree Dan, but I always say too one persons A+ may not be someone else's....

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Quoting jarroo

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I like the Daily bearish PB, emil. I understand Dan's point of the uptrend being strong. But the target, 1.1250, is far enough to protect yourself.

Forget the Hourly PPZ level. The weekly PPZ level at 1.1265 maybe a trouble area.

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Quoting emiliolopez

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thank you very much for the input, i apreciate it it makes me see more clearly. i analyzed some other posibilities to enter tonight, chfjpy, eurjpy, eurusd, gbpjpy, gbpusd and usdchf and i think that eurusd and the usdchf are giving the best r/r ratio, im going to see if gbpusd manages to go through 1.45 then i will decide or maybe i just jump in now i dont know yet, thank for your comments.

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Quoting jarroo

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There is many options for a tight stop placement. Below the 134.00 or 133.80, so having 2% in a 90 pip stop loss is one option. Below the left eye is another one. But I would have every intend to cut it quicker if it does not break hard or continuous, etc.


You could go at below the PB itself, is not a bad setups just don't know if it big enough to counter the strong down moves we have had.

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Quoting unlv_tj

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As strong as these trends are, for me the best play is to see if these set-ups reach the FTA, and then present P/A for a trend continuation trade and fade these pins.

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Quoting jarroo

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I like to stay on the time frames that the setup was presented, using the same time frame FTAs and Targets. Then I see how Price "behaves" around these levels on a lower time frame.

Am I making any kind of sense?

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Quoting jarroo

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I like the Daily bearish PB, emil. I understand Dan's point of the uptrend being strong. But the target, 1.1250, is far enough to protect yourself.

Forget the Hourly PPZ level. The weekly PPZ level at 1.1265 maybe a trouble area.

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Quoting jarroo

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This is where I believe a lot a traders get into trouble. There's a setup on a given time frame and they immediately go down to the lower time frames to look for reasons to exit or continue with the trade.

When I look at how Prce is behaving, after a setup breaks, I look for how Price respects and tests (thanks sChoas) at the FTAs and Targets on a lower time frame. I usually don't looking at PA on these lower time frames once I have a setup triggered on the higher time because these lower time frame PA can be very misleading.


I like to stay...

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Quoting Dan Gilbert

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maybe it's just the lines I have drawn on my chart as "trouble areas"

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Quoting Pinbar

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Thanks Jarroo
Your comments are clearly understood on this point.

Yes, I can see how too much switching to lower TF can confuse the situation. People were talking about the D1 Bullish PB that just formed on GBP/USD and some were looking at H4 and commenting on how the H4 PA was showing Bearish signals. I think Mike also commented on how TF switching can cause Analysis Paralysis.

Also, thanks for Really helping me out with the PPZ, I feel reasonably comfortable with drawing them now. Whereas previously, I was like, 'Hey, is this line really going...

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Quoting emiliolopez

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i see

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Quoting mbqb11

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I always tell this story but it's funny and true. The first thing I ever did in trading was use horizontal lines. We(my father myself and his friend) bought when price would cross them in a manner that looked visually correct....

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Quoting mbqb11

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I always tell this story but it's funny and true. The first thing I ever did in trading was use horizontal lines. We(my father myself and his friend) bought when price would cross them in a manner that looked visually correct. Over the course of a few years I complicated things, as I think we do as humans. Slowly I reverted back to a few lines on my chart

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Quoting bundyraider

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It's a hard one that's not worth guessing on. My approach is to plot what I did if there is an obvious swing to plot your control points from and then check what round numbers are in that area.

Weekly and monthly floor trader pivots can work.
It's all you can do.

From there all you can do is follow the usual PA cues for trades.

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Quoting Pinbar

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Thanks Mike.

Yes, I think the human mind always wants to rationalize patterns and put them into nice little boxes, to try to create some kind of order, even when it can't really be rationalized.

I think I still have too many lines on my charts and probably concentrating on an area between 3-500 pips either side of price may be the way to go.

Not that I am looking at these lines as floor trader pivots and am going to jump in once or if they break.

Input duly noted and appreciated.

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