james16 Chart Thread

Quoting jarroo

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Hey cprao. I've read Mike's comments as well.

PA setups are best played on the time frame they are presented on. The Weekly PB and the Monthly BEOB are definitely in play here and should be traded separately....

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Quoting HanSolo

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Hello Jarroo, I'm still not sure how to handle BRNs in terms of my trade mgmt. Considering you take this trade. How would you trade and manage it? Would you enter above the BRN/PPZ or just move to BE soon enough? Would you enter at the retrace or at the 2nd break?

I know it is the whole story and it depends on many factors (last not least my own experience). But I lately got a little anxious trading bars like these into BRNs. I'm just trying to find out if I'm over analyzing.

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Quoting jarroo

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The 135.00 is an important BRN, but I don't view it as being that strong compared to these other levels on the weekly; 1.3450-40, 1.3300. I would like to see Price break through the 1.3443ish and the 1.3500 and have these levels act as Support.

If I take the break of the PB I would manage it tight and move to break even quickly. I like the retrace to the 1.3300 and/or the left eye, some nice bullish PA on the Daily at these levels would help the confirm the weekly bullish PB potential.

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Quoting g_j_hook@yah

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i like the other side also, us/chf has a weekly BEOB coming off strong PPZs

it is running into pretty strong resistance though but could have potential in my view?

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Quoting HanSolo

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Ah, trading the support after a breakthrough or a retrace makes very much sense to me. Thank you, Jarroo.

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Quoting 666Doom

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Hey Pinbar,
Great Charts.
hey do you know why jarroo hasnt arrived for help yet.
Man it has been a lot of time,where is he.
I need help,we need help and, his guidance.
Hey Jarroo please, take the pain to answer the very last question i put for you.
I am desperate to learn from you.
Regards
Taz

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Quoting 666Doom

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Hey there Guys,
My Chart.

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Quoting Donkey

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Keeping it simple is best. I'm probably going to post way too many charts in a row, but I've been watching EG and that weekly bar form. Sometimes I think it's good just to look at the peaks and troughs on a line chart, identify the trend, and decide do you want to trade countertrend.

What I personally don't like about that weekly PB is the close right at the BRN, FTA is pretty close, and that it is only at minor swing low to me. It is a tempting bar for sure though. I could see almost equal chances of the bar being pushed up or further rejection...

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Quoting ghous

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I'll begin with this:

There are heaps of trading systems, money management concepts and trade management ideas that work. As traders the task we have at hand is to develop a combination of strategies that best suit our needs and mentalities. You don't to that by introspection. You get to that point with a lot of trial and error and practice i.e you learn to walk only when you trip over enough times.

Let me see if I get your dilemma right. At one end you want your trading to be really simple based on a few things "that work for you" but at...

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Quoting ghous

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As a followup,

Here are my thoughts on the two setups you mentioned. If EG breaks long I think hitting 86000 would be Job well done. If Eu breaks long a hard break should see 1.37

That's all there is going through my mind about the two. Trust me if you will Bar shape (strong vs weak look) Space to FTA and a visual idea of where the bar is at is what decides my trades 98% of the times.

(not recommending anything, just letting you know what normally goes through my mind when I trade)

Had it not been December, Eu...

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Quoting 666Doom

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Lol That is Cool.
But Jarroo is like 50 right,i bet he is more of charmer even in this age.

But on second thought running after women is a great job on its own.

I did not say that anyone cannot answer this.
I genuinely need help,so anyone is welcome.
Ghous,Jarroo,Pinbar,Mike,Rac anyone.
And a lot of great names.
If you did not find my question i will guide what it was.
Help is Help,i will be greatly obliged with any efforts on anyones part.
Thank You.
Taz

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Quoting Adilius07

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Hello Jarroo, how are you? Whole weekend I was reading both threads original "No free lunch..." by Bemac and then yours "DIBS no free lunch continued".

I have to say that is one amazing approach to trade the market. Not just IB's but the way to hold the winners and to cut lossers short. I think we can have the same kind of approach with any other J16 PA setup, some winners will run for months and years really (I just look at some PB, BUOBS) that reversed trend for long term.

[u]Just wanted to ask if you still trade original method on 1HR...

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Quoting jarroo

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I don't trade the DIBS method that much any more due to the time of day. I'm mainly trading the higher times frame. But the DIBS method works very well when I do use it. . .like on the 4 hour or even the 8 hour TF.

See Dale's Double Inside Bar setup . . its very good. (Dale is his username.)

I will apply the same "free trade" approach on some PA setups. Its a good way to cover your risk, then just moving to break even while jumping on trend.

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Quoting Adilius07

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Thanks Jarroo!

Going to check Dale's IB in a minute.
When you trade 4 and 8HR, you look for the setup to be above/below WEEKLY close?

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Quoting jarroo

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Yes, that can be one confluence but also on the Weekly close itself inrelation to PPZ levels . . .meaning did the Weekly close as Support or Resistance to that PPZ level. . . again another confluence.

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Quoting 666Doom

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Let me present the question here.
There is a lot less chance that a monthly high will be exactly matching with the bars of lower TF.
Say this month actually made a high and then never made it back to that place but still it will be seen that when price reaches that area it will stop,irrespective of the confluence.

Which means that area was important(ie monthly high/lows are important).
But what if the high is in common with a weekly cluster (several) highs.
Then don't you think that area is enhanced.
I...

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Quoting raczekfx

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NJ - daily pin,
...retrace, price pivot, 50fib ret, pin on 1hr off of ppz....Kaboom ... up?
.

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Quoting Pinbar

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Got my eye on NZD/USD.

Monthly bearish PB, weekly BEOB, TL, fibo and PPZ confluence on H4.

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Quoting 666Doom

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Yes if you could show a chart that would be helpful.

Monthly and Weekly Highs and Lows are very good levels on their own. They will appear as strong S/R levels on their lower TFs. Rac will use other confluence (fib, 50% ret, trendlines, etc) on the lower time frames with these Higher time frame S/R levels.

This Rac post illustrates that . .before the fact.

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Quoting Pinbar

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Hey Jaroo, that post was by TAZ not me.

Hope you had a great weekend, chasing women as TAZ suggested. LoL

I have just realized that PPZ drawing on the TF I am looking at is best, then moving to the weekly or even Monthly to check and adjust as neccesary is much easier than starting on the weekly.

Let's see how it goes.

I will not be able to fulfill my 5 H4 trades that I mentioned yesterday, had to go out and when I thought about it, why would I want to make 5 trades in a day anyway, there may not be any setups....

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Quoting ghous

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An important part of anticipating a strong break would be the strong close on the pin bar.

g.

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