james16 Chart Thread
{quote} Hey DMD. Nice DBLHC off a support level. Usually we would take these from a swing low, but this may well work out. Where is your next resistance and where will your stop go? What is your risk for this trade? All the best friend. GB.
{quote} Thanks, GB! I already had loss with my trade DBLHC GBP/CAD D1. When I thought about "how to enter this trade", I had two options: 1) Enter at break of big bar, with SL under it. TP around VBRN 2.0000, so it's about 1:1 R:R. 2) Or enter at pullback to inside bar, with the same TP/SL, so it's about 1:3 R:R. I divide trade into two. As a result, my enter at pullback was triggered and the trade went against me. (or without high break it's not really DBHLC?) So, what is correct way to play this pattern (also BUOB/BEOB)? {image}
{quote} Inco, take a look at this post & few next, that were posted by Zamfir a few weeks ago. There are PDA with PA setups & guidelines for them. http://www.forexfactory.com/showthre...99#post8340899 I printed out it & put in front of me, when open charts.
{quote} {quote} {quote} Thanks guys!
XAU/USD Gold h1. Supply and demand observation chart. Not particularly J16 but something I've become more interested in. Well, the trade is a break of some IB's but I took it mainly because we are in a downtrend and if you look left, that big wick has taken out any buy orders that may've been sitting there, so therefore I thought price should fall easily with no resistance. And it did. Fell like butter through a hot knife. Anyway, this is not a strategy I am suggesting, just an observation which may or may not be correct. Inco. I hope you stick...
{quote} I think somebody once said that the lower timeframes have a similar probability of working out. When you have a great D1 setup it does not mean it will work out and if you have a great M30 setup it does not mean it will fail. If you have a coherent story around in the lower TF, why not take it, e.g. with reduced risk (see GBP-CHF below). Maybe you get kicked out more often, but you have the chance to get a real runner with initial RR clearly above 1:3, which is in my opinion difficult to achieve at D1. Maybe you remember the GBP/JPY trade...
Hi there, I think, there is possibility of reversal on AUDUSD 1D TF 1. Today's Pin Bar rejecting BRN @ 0,74 2. Confluence with: AB = (almost) 0.886 CD alternate price projection for BC stopped @ 1,902 (daily low) {image} Entry few pips above today's high or 50% of today's range SL just below left eye or today's low TP at least @0,76
DBLHC on NZDUSD daily{image}
{quote} Hmm.. With the current strong bearish trend, I'm not 100% confident in this DBLHC. There seems to be a lack of confluence from around the area, although if it breaks 10 pips or so above the 2nd bar, it can have a chance for some short term move up to either the BRN of 0.68 for a quick 40~50 pip profit, or a bit more to test the current trend line? Probability is a little low for my liking.
