james16 Chart Thread

Quoting protuberanec

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Hey guys! I try to trade breakouts as Mike show in his graph. Please tell me where is my mistake. Big BUOB breakout PPZ 1.4600. retrace to 1.46. I buy on retrace. {image} {image}

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Quoting Adhavan

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{quote} Hi, I hope you entered the right place, but you may consider the length of the bar was good idea. As my experience if the PA bar (any) form higher than reasonable length, there could be possible that the price fill up the space ( price may retrace from previous low). This is just my opinion.. few days before Mike commend about AUD/JPY pinbar, which seems to be almost same situation with this one. Bar type may vary but concept would be same. If Seniors commend about this entry, it will be more helpful to me also.. Adhav

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Quoting protuberanec

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Hey guys! I try to trade breakouts as Mike show in his graph. Please tell me where is my mistake. Big BUOB breakout PPZ 1.4600. retrace to 1.46. I buy on retrace. {image} {image}

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Quoting Legrand

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{quote} Hi protuberanec, I'm new to this thread and I'm slowly learning the material in this great thread, but I try to answer your question. As you can see there is a minor PPZ at 1.47 RN. If you played that bounce from the lower PPZ at 1.46 you should be aware of this fact and either take full profits at 1.47 or move to BE. Also it wasn't a BUOB because it had a higher low. and it had a large upper wick, which is a bearish sign. This wasn't a great trade imo, though it worked almost perfectly. Personally, I wouldn't even consider this as a breakout...

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Quoting Legrand

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{quote} Hi protuberanec, I'm new to this thread and I'm slowly learning the material in this great thread, but I try to answer your question. As you can see there is a minor PPZ at 1.47 RN. If you played that bounce from the lower PPZ at 1.46 you should be aware of this fact and either take full profits at 1.47 or move to BE. Also it wasn't a BUOB because it had a higher low. and it had a large upper wick, which is a bearish sign. This wasn't a great trade imo, though it worked almost perfectly. Personally, I wouldn't even consider this as a breakout...

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Quoting protuberanec

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My thought about weekly: GBPJPY: big BUOB from PPZ & VRN 175.00 and TL. {image} AUDUSD: pin from PPZ 0.77 which you can see when zoom out graph as Mike say in one of his post. {image} PPZ on this chart {image}

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Quoting georgemoon

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Just want to say thank you to everyone involved in this thread. WOW. There is so much useful information contained. I'm a few hundred pages into the thread and can't stop reading. I'm here to learn as much as possible so i've been trawling charts looking for past bar patterns and bars currently forming. I will be starting my 3month practise account at the end of the month, to put the information I'm learning into action! Now for the analysis! GPBUSD WEEKLY DBLHC after a large downtrend. Will be watching for a break of the upwards bar and then assessing...

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Quoting mbqb11

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{quote} yes this is very true about it not being a breakout trade. One thing I am constantly hammering home in the PF is my distinction of my breakout trades vs trading a bar at a PPZ. It might be nit picking but the dynamics a breakout trade has vs a trade just at a S/R flip(ala a PPZ) for me are VERY different WIth that said P your idea to ONLY trade a retrace of that bar makes sense. I would have said to take even a deeper buy near the RD number of 4600. But even at 4650 the thing is you gotta just get your stop to b/e on a trade like this. Your...

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Quoting mbqb11

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here was a nice easy touch trade I got into on sundays open. Had all the components for a nice trade with a 25 pip stop. Have no idea if i'll get stopped out for b/e but it doesn't matter. chart of explanation {image} currently at b/e. Can't get greedy play the situation how it dictates and let the market decide the rest. {image}

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Quoting leanne087

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{quote} Hi Mike, Could you please give a bit more detail as to why this was a good place to touch trade? I had the same line drawn on my chart but didn't consider a touch trade, I was waiting for a 3rd touch of the TL and then a BO and pullback. I can see there's a PPZ that lines up with the TL - is this the main reason for taking the trade? also the TL was only touched twice so were you thinking this could be the third touch? Is it significant that the Daily bar closed at/on the TL (pretty much)? Also the size of the bar, initially I thought "why...

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