Wondering if somebody took this trade.....a pin bar on one hour chart and nice move down
We have one more entry for a similar pair on USDCZk pair
We have one more entry for a similar pair on USDCZk pair
Attached Image(s) (click to enlarge)
james16 Chart Thread
- #133,565
- Jan 14, 2015 5:41am Jan 14, 2015 5:41am
Hi...I don't Post much But just caught this and thought you might check it out ....Shooting star on 4H chart with great Positioning nearly at 1.2000
BRN following stretched upward move . Trade Safe
BRN following stretched upward move . Trade Safe
- #133,566
- Jan 14, 2015 8:57am Jan 14, 2015 8:57am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
{quote} Hi Mike, What do you think on this daily pinbar at major resistance??? Would you play that??? Yours Kouroushi {image}
Be careful here this pinbar is in a lot of traffic and super super tiny bar. We have strong s/r just under us too which is where price bounced. The only real way to enter a bar like that would have been a retrace to the left eye which did work out. But that's still pretty aggressive in my eyes. Look for those more stand out bars they are much easier
Best
Mike
- #133,570
- Jan 14, 2015 10:24am Jan 14, 2015 10:24am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
{quote} Thanks for that great example! I love using divergence as a filter for my trades
- #133,571
- Jan 14, 2015 10:24am Jan 14, 2015 10:24am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
{quote} Thanks Mike, that's really helpful. I have just been stopped out on a short on NZDUSD ( small profit ), but didn't consider we could be losing momentum and looking at a trend change.
- #133,572
- Jan 14, 2015 12:43pm Jan 14, 2015 12:43pm
Hi every body, i am new here, but watching your thread and posts guys. In trading i am over 6years. but for me its like a hobby. Walked the same path like many, (indicators, systems, courses etc.) three times dropped forex and after periods of time returned again to traiding. sort story Any way, i started watching this j16 "system" because i am trading very similar way, cause with expirianse i came to same conclusions - no indicators, "stop loss hunt" and momentum. So i will join you guys on same occasions and post some my views on setups your comments are wellcome.
Ps. sorry for my english its not my first and second language. Here some my views:
Any way, i started watching this j16 "system" because i am trading very similar way, cause with expirianse i came to same conclusions - no indicators, "stop loss hunt" and momentum. So i will join you guys on same occasions and post some my views on setups your comments are wellcome. Ps. sorry for my english its not my first and second language. Here some my views:
- #133,573
- Jan 14, 2015 2:19pm Jan 14, 2015 2:19pm
- Joined Mar 2009 | Status: Hobby Trader | 4,477 Posts
Hi every body, i am new here, but watching your thread and posts guys. In trading i am over 6years. but for me its like a hobby. Walked the same path like many, (indicators, systems, courses etc.) three times dropped forex and after periods of time returned again to traiding. sort story
Welcome to J16!
A few comments about your charts: The AUDCHF shows a somewhat bullish pinbar at a swing high. We want to trade bullish pinbars at swing lows It's close is actually rather weak since it closes below the prior bars highs. If this particular bar had engulfed the previous bars by closing above then this would have been much stronger and perhaps worthy of a continuation play. Playing continuations with a price action bar can be tricky but it can be done if the continuation bar is very strong and engulfs prior bars decisively.
The NZDUSD chart shows a weekly bar closing pretty much in the middle of a box formed by all that consolidation over the past couple of months. You call it an outside bar but this one is not a price action bar as taught by J16. If it had closed below the prior bar then it would have been a bearish outside engulfing bar and worth of a trade.
- #133,574
- Jan 14, 2015 2:26pm Jan 14, 2015 2:26pm
- | Commercial User | Joined Aug 2006 | 12,004 Posts
{quote} Hey V, Welcome to J16! A few comments about your charts: The AUDCHF shows a somewhat bullish pinbar at a swing high. We want to trade bullish pinbars at swing lows It's close is actually rather weak since it closes below the prior bars highs. If this particular bar had engulfed the previous bars by closing above then this would have been much stronger and perhaps worthy of a continuation play. Playing continuations with a price action bar can be tricky but it can be done if the continuation bar is very strong and engulfs prior bars decisively....
Welcome V
Winston he's buying a pullback of the bullish outside bar to the previous support area. It's a nice play and more advanced for sure. I'll prefer to wait for the breakout myself though as you said and that observation is spot on
again welcome V and glad to see you posting
Mike
- #133,576
- Jan 14, 2015 5:36pm Jan 14, 2015 5:36pm
- Joined Mar 2009 | Status: Hobby Trader | 4,477 Posts
I don't usually pay too much attention to multiday pinbars but this one kind of caught my attention. The two day pinbar closed strongly above ppz and now has retraced and testing. Interesting.
- #133,579
- Edited 4:51am Jan 15, 2015 4:30am | Edited 4:51am
{quote} I guess you got very quick profit thanks to SNB :-)
We are what we repeatedly do. Excellence, then, is not an act, but a habit
