james16 Chart Thread

Quoting mbqb11

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{quote} Hey M Most of the time you can focus and do all your trading on the same timeframe. So if you are searching for a daily entry a relevant PPZ will be viewable on the same timeframe Sometimes it can help to jump up a timeframe just to get prespective if anything else crucial overlaps. Don't go crazy though it should stand out quite clear Best Mike

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Quoting mmb91

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{quote}thanks for the reply mike, i really appreciate it. im not sure if im plotting the pivots correctly as it seems like there isnt enough space between the different levels. here is a daily chart of mine using the daily pivots from investing.com it seems like the levels dont give enough space. is this how it should be or am i plotting them wrong? {image}

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Quoting zamfir

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Hey Bill, yes, EURJPY is making a big triangle on the daily. But see whats happening inside the triangle formation. you have smaller trends. Go to 4h/1hr to see these. Here is the EURJPY daily. Good rally so far. {image}

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Quoting mbqb11

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{quote} Hey M Remember that s/r and PPZs specifically are zones. So we have larger zones, and we have smaller zones One thing I see too many new folks do is try to trade off the smaller less significant areas. I'd recommend and mostly myself look towards the larger more important clear PPZs for trading and then what we can do is take your smaller zones and use them for trade mgmt. Often smaller PPZs are great for targets/trade mgmt and stop loss reduction So for the usd/cad we have a bunch of minor zones as you indicated but we have the more important...

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Quoting antisystem

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{quote} Thanks for explanation. I'm using weekly levels at my daily charts. They are more reliable & demonstrative for me than daily ones, that confusing me all the time)) So basically, your more important level at USDCAD is a weekly s/r level. I have a question, that bother me)) What is the difference between PPZ and s/r levels? I don't clearly understand the difference...

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Quoting Bill618

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Hi GB. Be cautious with shorting Oil because on my 4h it shows it potentially hitting support. I guess it could breakout lower though? Bill {image}

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Quoting Bill618

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CAD/CHF Long {image}

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Quoting Bladerunn3r

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{quote} Price is a bit cramped there, would have personally liked to see price drop down to the 1.72300 area for a long. I tend to prefer at least 2 or 3 opposing candles before considering a move as its key to get a bit of momentum behind you and also that automatically opens up space for price to move into and space is so important. Having said that though maybe some pips up for grabs on a deep retrace of the pin.

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Quoting Bill618

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{quote} Looks like you could be right! Thanks Bladerunn3r, all part of my learning curve. I'm ok with some retrace as long as it moves North soon hehe. I really appreciate your feedback. EUR/NZD. Breakout of 2 key resistance levels = so far so good {image}

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Quoting Bladerunn3r

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{quote} No worries Bill, hopefully it shoots north as you say and some profits come your way. Playing the retrace on a Pinbar is a really good way to reduce risks and increase profits. If you have enough time to sit and watch price on the lower time frames, get out the Fibonacci tool and watch for price to hit one of the key levels (38, 50, 61) it should then make a higher high or lower low and you know its time to enter. As mentioned it also reduces your risk by whatever percentage price retraces to and therefore you can increase your rewards....

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Quoting Bill618

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{quote} Thanks again man. One Q about the Fibo if you don't mind: I never know where it goes (apart from the high and low points). Have i placed it accurately on my chart? Bill {image}

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