james16 Chart Thread
well breakouts are the only time I drop timeframes, so 4hr breakout pattern = 1 hr entry(or 4hr depending on setup).
But You are very correct I still will manage it according to that timeframe I enter. Makes life so much easier right?
Mike
I saw a BEOB on cad/jpy daily yesterday. It was at a swing high. The price had tried to break through 62 Fib but failed. It sank back down to 50 Fib. I wanted the outside bar to be more bearish, it was almost the same size as the previous bar. I was hoping for further signs before pulling trigger.
As I was thinking, I happened to start watching one of J16's free webinars. In that video he pointed out two daily bars that together made a nice 2 day pin bar. I looked at this trade and saw that it made a decent 2 day pin bar as well. Well there's...
I would say that Price rejecting the 85.00 BRN a couple a times didn't hurt either. (right Mike? lol)
Good eye on the PPZ level, 83.50, jdl.
Those videos are great view them many many times.
Nice work . . . now what are you going to do . . . since it went right to where we expected it to go . . .
well breakouts are the only time I drop timeframes, so 4hr breakout pattern = 1 hr entry(or 4hr depending on setup).
But You are very correct I still will manage it according to that timeframe I enter. Makes life so much easier right?
Mike
yes PinBar, been waiting for some nice bearish PA
I would say that Price rejecting the 85.00 BRN a couple a times didn't hurt either. (right Mike? lol)
Nice work . . . now what are you going to do . . . since it went right to where we expected it to go . . .
For now I'm holding and watching, OK with getting stopped out for a small profit. The other day I panicked and closed out an NZD/USD short trade early, then watched it drop like a rock an hour later. I suspect exiting trades is an art I will learn after many mistakes. Good thing it's a demo account!
The thread has tons of info on them.
Also check out Mike w's posts and his journal http://www.forexfactory.com/showthread.php?t=52453
He has some great info on IBs and I4Bs. You'll also like the guy . . he's pretty cool.
The 1.3100 is a strong confluenced PPZ level. Bearish PA here would be nice indeed.
If Price breaks through this level and acts as Support (again) that would surely show the strength of the uptrend.
I seriously believe the euro is just going to keep climbing.
the big money has to be liquidating their shorts now, and this is going to just cause more rallying. Until I see something worth shorting, I'm going to to just guess we are heading up for a bit longer (at least to 1.35)
when there is no one else left to short the euro, it has to go the other way. supply and demand? yeah I think that's the term
I agree Dan. A lot Big Bullish Bars leading the way, many buyers. I don't think Price is done with the 1.3000 just yet. We shall see.
The I4B at the 1.3000 was awesome Dan.
The I4B at the 1.3000 was awesome Dan.
Shoot, I completely overlooked that BRN, good point.
What to do now? That is one of the many things I need to learn.
your getting mod status jarroo as will many others if they want it.
jim
Been following the 10500 PPZ.
Finally took 1H PB, set my SL but... forgot to set my partial profit!
No problem, as I am still in profit.
Hope it closes as a daily BEOB, below the red FTA, engulfing 3 bars.
In contrary, BE.
Been following the 10500 PPZ.
Finally took 1H PB, set my SL but... forgot to set my partial profit!
No problem, as I am still in profit.
Hope it closes as a daily BEOB, below the red FTA, engulfing 3 bars.
In contrary, BE.
I agree Dan. A lot Big Bullish Bars leading the way, many buyers. I don't think Price is done with the 1.3000 just yet. We shall see.
The I4B at the 1.3000 was awesome Dan.
