james16 Chart Thread

Hi Mike,

I was wandering about your opininon about the EUR/GBP trade story and how you would have traded it, if at all.

EURGBP has been on bullish trend on the daily chart. It came back from the bottom of a large box (Approximately between 0,7000-0,7500) and it broke the midpoint and has been pushing higher.
Last week it printed daily bars that have almost identical high points and was moving over an ascending trendline. It is forming a bullish wedge.
Today a bullish bar broke the level at US open, retested and shoot higher.

My questions are:

1) Would you enter right after the break or wait for a retracement? Or would you put a limit buy order there before it breaks?
2) Where would you put your SL? Is an SL below the break bar would be too tight?

Thanks.

XAU/USD H4 Buovb. Got on gold going north. GBP/USD trade stopped out for small loss.

AUDCAD coming close to target.



and so is GBPNZD

Great trade zamfir, thanks for sharing.

Couple of questions:
1. Assuming you marked by arrow your entrance, AUDCAD you entered based on those two red PB as an entrance signal (one of them is marked by arrow)?
2. Regarding GBPNZD you sold due to multiple rejection of the line marked blue and price in the range?

Thanks again.

Hi mozyr,

we were discussing AUDCAD trade last week, so I can help you with my notes based on zamfirs answers. Pin bar is just a trigger, more important is PPZ and TL. Hope it helps.

I looked now on GBP/NZD trade and here are my thougths. I dont know if it is correct and if zamfir entered based on this, by I think that BRN (Big Round Number) has huge importance there. Inside bar was a again just i trigger. But as I said, I am not sure.

mozyr,

on GBPNZD H4 is PPZ on 2.23 BRN even more significant.

Thanks a lot wellard for your help with both currencies AUDCAD and GBPNZD.

Hey mozyz,

I think wellard and GB have already answered your questions. But i will add to it.

1. AUDCAD - Context is clearly a uptrend. The TL supports it. Entry on pullback to a PPZ + TL confluence. The small red pin is just a trigger for entry.
2. GBPNZD - Again context was downtrend(see Daily TF). Entry again on pullback to PPZ , IB WITHIN the consolidation area gave trigger for entry.

The lesson for you is , look at higher TF context and then look for location(PPZ) and finally the trigger(PB/IB/OB).

Update - AUDCAD hit the target. Time for a pullback again.

Another similar setup on USDCAD - 100+ pips locked in. SL moved just below the PPZ.

EURUSD - Entry on PPZ + 50 FIB Retrace. BE now.

XAU/USD H4 BEOVB (blended candle). Zamfir, I am BE long on E /U too. Can't attach chart to this post but similar entry. Could be turning south. Target 1.10000 GB.

hello everyone, may I ask a brief recap of this thread and where I can start as a beginner or will someone tell me to read all 7000 pages

Lol. Hi Veronica, welcome. Page 1 post 1 and reading all the links within that post is the place to start. It's all on the first page. You've landed in a great place in my opinion. All the best, GB.

Hello GB, thank you for your quick response. I will definitely look into it. could you give me a couple reason why you think I've landed in a great place? I'm very happy to have become a new member and looking forward to my experience on Forex Factory.

Hi guys, I share my view about 4 forex pairs. Mary xmas and a lot of pips ! feel free to feedback this post ( I don't get any advise about trading, this is only my view )

E /U D1 Beovb 6 bars back 2nd chance entry. If it breaks below current 1.09000 area, am looking for price to fall further. Edit: sl to BE

Hi Veronica. One main reason is J16 is a simple method and not too complicated. Doesn't mean trading is easy, but simple is good. You will have to decide yourself whether this trading style suits you. But I can tell you the method works combined with patience. Hi CI. Tidy charts and all the best to you.

I liked your thoughts , thanks

Merry Christmas to all my friends on the private and public forum; have a fabulous day you guys.

James, firstly thank you! I've had 3 consecutive profitable months using your old trading method. The one thing that I am particularly grateful for is you saving me from the risk reward mentality. Thank you, it has done wonders for my account. Secondly, others may have forgotten through unbelief, but I haven't. You know what you have promised to those who stick with you. Seeing that you're a man of impeccable morality, I will hold you to your promise. Looking forward to the new site, I hope I will see more from you though... when it launches.

Mike, you have done more for me than anybody else. I'm sorry for all the hell that I've given you this year. I promise that I will make it easier for you in the coming year. Happy holidays my friend. Love you tons; blessings and a speedy recovery to your GF and dad.
Everybody else; GB, Blade, Mordin, Alpha, Zamfir, Oble, Anti, FXBat, Patapouer, Bill and all the rest of the crew... happy holidays.

Bottoms up...

Thank you all wishing you all a very Merry Christmas today if you celebrate and happy holidays to everyone

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I posting my easy price action view on daily timeframes ( only mayor pairs ).