james16 Chart Thread

Quoting supremeChaos

Disliked

Hello Kim,
u will benefit more if u post your personal questions.

trading is a mission that is possible!
Keep it up!

Ignored

Quoting mission

Disliked

Thanks for the encouragement SC. I hesitate cause it may have been asked a thousand times before but I still dont understand the difference between dblhc (reversal?) and 2 consecutive matching lows (continuation), they look the same to me but I suspect it may have something to do with the position in relation to the ppz? Confused.

Ignored

Quoting supremeChaos

Disliked

mission,
yes, they slightly look the same.
to add to Sir Mike's reply, the two are traded differently.
for example, a TBL (two bar low or 2 matching lows) is traded to the downside (trade the break of the lows) while a DBLHC is traded to the upside. reverse for TBH & DBHLC.

Ignored

Quoting mbqb11

Disliked

Thanks SC I should have said that too

and to add
yeah can also trade a TBL as a reverse higher, cause until those low breaks one could say it is support(although easier to trade a break of them in my book but I know people that do). And also see a DBLHC is a TBL as well you can trade them as a continuation when the lows break(again not the standard).

Best
Mike

Ignored

Quoting mbqb11

Disliked

....
and to add
yeah can also trade a TBL as a reverse higher...

Ignored

Quoting mission

Disliked

Thanks SC and Mike. So would it be alright to say, if it was double low lower close, we would not trade it going up, but rather wait for it to break the "support", and if applicable make a little pullback then trade it going down?

I know some things come with experience but this is the only setup I hesitate about when doing backtests.

Also, Ive read that some trade the break of the inside bar, others trade the break of the "mother" bar, I get nervous about just trading the break of the IB, what is your take on that?

Ignored

Quoting mbqb11

Disliked

Thanks SC I should have said that too

and to add
yeah can also trade a TBL as a reverse higher, cause until those low breaks one could say it is support(although easier to trade a break of them in my book but I know people that do). And also see a DBLHC is a TBL as well you can trade them as a continuation when the lows break(again not the standard).

Best
Mike

Ignored

Quoting mbqb11

Disliked

Hey Kim

Yes TBLs are like a breakout. So one could sell right on the break of the two lows, no pullback is needed as these can be quick breakouts, or even in the trend long sustained ones. I personally like Multiple bar lows(say 5-6) in a row. Those are super strong.

As for Inside bars, the James16 way is to trade a break off the inside bar, we don't focus on the mother bar really more on the confluence of the inside bar , location etc

Let us know if you have more questions
Mike

Ignored

Quoting xmzhang

Disliked

Hello Mike,

If you melt the two bars of a DBLHC pattern together you will get a bar that looks like a bullish PB and if you melt the two bars of a TBL together you will get a doji like bar which means indecision. Is this correct to put it like this ?

May the force be with you,

Ignored

Quoting Hitchhiker

Disliked

Anyone think this pair with be worth a few pips today?

Converging nicely into a tight bottleneck and support holding.

How do you post charts?

Ignored

Quoting Jey

Disliked

I think my brains are beginning to melt down

Ignored

Quoting xmzhang

Disliked

G'day Mike,
For a intraday trade do you make use of floor pivot points? I've been watching now the EUR-GBP on the 15 min TF. And I must say that for a intraday trade these floor pivot points work extremely well, these floor pivot points are the PPZ-lines in the shorter timeframe. I've drawn in the attachement 2 PPZ-lines from the 1H-TF (Blue) and one PPZ-line from the 4H-TF. Notice also a nice BeOB right between 2 PPZ-lines and two floor pivot lines which coincided with each other, when price broke below the 4H-PPZ it dropped, stalled at pivot S2,...

Ignored

Quoting mbqb11

Disliked

Hey zhang,

I personally do not use floor trader pivots. I know many do as additional confluence. My problem is that forex is not a centralized market so people are using different numbers, where as in a centralized market(opening and closing hours) all traders are looking at the SAME pivots. Again I still no many use them(so don't yell at me if you do). I just find pure horizontal S/R is more then enough.

that was a very nice big beob at a double top + divg

Best
Mike

Ignored

Quote

Disliked

...with floor pivot points there is only one way to draw them (at least for the London open/close pivot points) and so there is no ambiquity concerning the right positions, also these pivot points work because a lot of traders keep an eye on these pivot points...

Quoting mbqb11

Disliked

Thanks SC I should have said that too

and to add
yeah can also trade a TBL as a reverse higher, cause until those low breaks one could say it is support(although easier to trade a break of them in my book but I know people that do). And also see a DBLHC is a TBL as well you can trade them as a continuation when the lows break(again not the standard).

Best
Mike

Ignored