james16 Chart Thread

Cool stuff Mike. G

nice job mike you didn't entered on pullback/touch of trend line as usual. can i ask what make it exception?

Regards,
Reza

edit* in my chart witch is same as yours where you buy is 18 pips above the trend line, some how in your chart it seems less.
another question if i may, you don't care about BRN/SR in break out? seems you ignored 0.78 also 365 EMA. thanks again

EUR/JPY profits locked.

Entry @ 139.5

Good job GB.

I closed my GBP/USD and USD/CAD trades for total of 600+ pips.

GBP/USD 300 pips



USD/CAD 300 pip(2 trades)

Hello zamfir,

your arrow is below candle where you entered the trade or below candle with PA and you entered one candle after?

This question is meant to all your charts.

Thanks for answer,
wellard

The arrow marks the signal or PA confirmation and sometimes on touch trades the arrow marks the bar that triggered the trade.

Thanks Z. Wow. Lovin it!

Pinbar at resistance and confluent with overall downtrend. However I do note that the near term momentum is bullish, hence the sell order around 14-15pips below the pinbar low. 1st TP @ recent bar lows and will leave the 2nd half of my position to run, and see if it can reach 1.10 or even 1.08. Appreciate any comments. Thank you

Any thoughts on the pin on USD/CAD Daily?

EUR/USD D1 PB Sell. Rejecting BRN 1.14000. 1st target hit. BE. Letting trade run. All the best Oxygn.

Hey Bladerunnr. I'd prefer to trade that USD/CAD D1 PB from a lower level such as support zone around 1.19230 zone. But it may well go up for a few pips. Good luck. GB

hey bladerunner,
i'm new to this and i just want to share my observation its a nice pin bar with good confluence 61% fib, 1.22 BRN and almost touched the trend line. the only thing that bother me is range/traffic area above it at 1.2280. it can be played at retrace to 1.22 or wait for break. if i play the break at 1.2260 i will move my SL to BE after 20 pips.
happy to hear other guys opinion Happy trading, Reza

I was thinking the same on the traffic, its not a clear run but i checked the fib too and saw what you saw. I decided to trade it on demo and will see how it plays out.

Thanks for your reply

Thank you GB, 1.9230 was a nice sharp move up and i had it pegged on my charts too. I will see how things go with this one.

USD/CHF - entry a little late but some profit locked now.




Have a nice weekend everyone.

Thanks Guitarbloke. my 1st target was the recent bar lows. price didn't quite hit that yet. The bulls manage to fight the bears off to close the week with a doji. Doesn't look promising. Who knows.

Good Morning zamfir, may i ask what your were confluences for trading this one?

I can see the trendline bounce and the candle is engulfing, where there other things you checked before giving the trade the thumbs up?

We had a break out of the consolidation area and then a pullback to the 9250 area where TL and PPZ meet.

Very high chance that the 9250 which was earlier acting strong support to now act as resistance and that's all there is to it.

Hey Zamfir

Can you make some examples with some charts? Where are you looking to take TT?

My example USDJPY. I am looking to take a TT at the 121.50 level. What do you think about it? Do you agree with my analysis? Would be nice to hear lots of tips and help from you...



Regards,
aserafino

Its not complicated but try to follow...Many people have asked me this so i will make this post with some explanations.

I cannot just give some examples without giving the thought process behind it.

So here is my take on taking TT. Note if this could end up in a big wall of text. Sorry cannot give a tldr on this subject . lol


Firstly , we need to understand that markets are always in two conditions. Either trending or consolidating. There cannot be another condition apart from these two. So when people say market conditions are always changing it simply means that markets are switching back and forth between trending and consolidating conditions. Understand this simple fact is very critical to taking TT entries. if anyone doubts this statement , he or she can take any chart on any tf and you will see this behavior repeatedly over and over. So in essence trending and consolidations form the basic building blocks of any market.

Once you understand how markets moves and the basic building blocks , we look at what the market is doing now and where are its recent consolidation areas. pay close attention to the RECENT consolidation areas because this is where you will take the TT entries.

The consolidation area always form at boundaries of round numbers ending with 00/25/50/75.

After you have identified the recent consolidation areas or boxes , see where price is in relation to those areas. They will break out of consolidation and pullback to the top or bottom of the consolidation areas depending on the direction of the breakout.Why markets do this is quite obvious and there is ton of literature on this behavior, so i wont go in to the details, but the understanding is necessary.

The touch trades can be played in many many ways. The first time back to the consolidation area has the highest probability of a bounce. The top and bottom of the consolidation will usually line up a trendline or fib so look for those. once we have confluence at the top or bottom of the box with either a TL or fib , its enough to take a touch entry and place you SL behind a PPZ or a strong Support or Resistance level.

Like any strategy , this approach has a probability of 40-60% , so its not some holy grail. Those who can accept this probability with proper Risk/MM can trade it.

Its just that it will take some practice to see the markets this way. you need to break down the market movements basic building blocks i.e in to trends and consolidations. once you understand this behavior taking TT entires will become easier.

I hope the thought process above makes some sense and you can get some ideas for your strategies.

Please note that you can never trade another person strategy as is. That has never worked and never will. The success or failure of any trading strategy will entirely depend on the individual , its not a function of the strategy but the trader. I have to stress this point here again because if you don't understand this, the above methods or ideas discussed will not help you and my writing this is a complete waste of time.

Now taking USD/JPY as an example. The current price is around 122.50/60 area.

you can see in the chart the white arrows are breakouts and blue boxes are consolidations. Like i said markets are always breaking out(trending) and then consolidation(boxes) we can see that usd/jpy can bounce from 122.50 area to 124.75 or it can break down from 122.50 and form a new box for which the top and bottom is show.

you can see the yellow areas marked for TT entires. It may or may not workout this time ,but like i said think in terms of probabilities and not in terms of winning every trade. you can also wait for a bar confirmation at these levels and then take a entry.



Hope this helps answer the question.