DislikedHi Possmer,
I have also started trading on demo account. However, as I do not find or "see' any good setups in the daily / weekly charts using the J16 method...
Cheers
Novice 198Ignored
All of the trades I took yesterday (and since I started my demo) have been based off of J16 setups on the daily. I'm also watching the weekly, but haven't seen any setups yet. To clarify, I am looking for PBs that bounce off of S/R levels that I can clearly plot on my charts. I am then overlaying one or two layers of fibs to gain confluence. To me (and senior members will undoubtedly have higher standards), I could find good reasons to take all of the pinbars I found yesterday, with the exception of the EURAUD and EURCAD, which I thought were somewhat marginal because of the lack of support underpinning them. I just "had a feeling" about these two, which is not necessarily a great reason for taking the trades.
In the end, sound trade management showed me that pinbars can be profitable, even if they aren't A++, which I'm not even sure I know what those look like yet Ok, I have an idea, but I'm not picky enough.
For the senior guys, how could the GBPCHF daily not be an A++? It had the perfect shape and plenty of confluence.
Not trying to be argumentative. I have a long way to go.