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james16 Chart Thread
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May 6, 2010 3:37pm
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J16 Senior Member cczar
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Quote:
Originally Posted by mbqb11
Ryan I was well in my position before mine took off here. My trade plan was firmly in place. Did I know this would explode that quick? course not lol. But it did and you react accordingly.
Ahh was just going to post only in PF but here is my trade. Did I expect this that QUICK , no way. But this was a trade that had a firm trade plan. No one knows whats going to happen at anytime. That isn't the argument. I think you should understand I am talking about understanding your trade plan.
At least that's what I did. Oh My actual order was a BV(bounds...
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Great example of a hard and fast break, Mike. 
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 6, 2010 3:39pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Ryanmcd
Mike this video is CLASSIC haha,
It's like you are at dinner with a supermodel on the 1st date and she says, lets skip dinner and just have rough sex gggg.
p.s. Just busting your balls on the trade, I know you have a clue, what my worry is all the retards thinking that they are now Forex Jedi's after a move.
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 Its could happen. 
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 6, 2010 3:47pm
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J16 Senior Member cczar
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Quote:
Originally Posted by bundyraider
And how he links those pairs to the fortunes in equities. 
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Absolutely.
Probably because Price couldn't break this baby PB. I'm sure he wasn't looking for buying opportunities.
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 6, 2010 4:00pm
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J16 Senior Member cczar
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Quote:
Originally Posted by LasVahGoose
Trading error at a Firm? Someone typed Billion instead of million. LOL. Wonder if that rumor is true...
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That could start the ball rolling. The market was just looking for a reason anyway.
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Indicators show the past. Price Action "Indicates" the future.
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May 6, 2010 4:30pm
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J16 Senior Member cczar
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Quote:
Originally Posted by bundyraider
Already had the reason. They've just been waiting for the sheep to figure it out while they position themselves. lol
This whole shake up with greece and all. The rumours have been there for over a year of bigger trouble in europe. We're not going to return to yesterdays prices tomorrow. This drop will continue IMO. Question is how fast and how long.
Everyone's flocking to the havens again.
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I agree. Well said, bundy.
Greece . . .sheep. . . lamb chops sounds pretty good right now. 
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 6, 2010 4:45pm
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J16 Senior Member cczar
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Quote:
Originally Posted by LasVahGoose
Hmmm... Gyros sounds good about now...
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Even better. lol
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 6, 2010 4:48pm
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J16 Senior Member cczar
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Quote:
Originally Posted by optimuss
just woke up in Australia... OMG at what happened last night!!!
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benji533 decided to short the market and everyone was watching.
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 6, 2010 8:52pm
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J16 Senior Member cczar
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Quote:
Originally Posted by scott087
The USD/JPY Daily and Wheat weekly trades worked out very nicely.
I believe the XOM Daily IPB failed lol. I guess my stop was a little too tight...maybe next time I'll have to use a wider stop 
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lol..
That's the beauty on the IPB, inherent small stops.
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 6, 2010 8:54pm
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J16 Senior Member cczar
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Quote:
Originally Posted by fxeturn
Saw the chance yesterday...
plotted the move...
but I didn't trade it...
If everything worked as it should, the 1st bar after the DBHLC should trigger the short entry, which however followed by a BUOB pair and another bar which makes newer high and low. All these have to be endured in 16 hours before it finally worked as thought out.
Even if I did enter the trade, I have to endure that 16 hours torture including a BUOB that signals against me, before finally giving in to my favor. Forex really trains your mental defense.
Give it a...
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That's why we like DBHLCs or BEOBs at swing Highs. Not at Swing Lows.
That's how they usually behave at swing lows.
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Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, May 7, 2010 1:30am
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May 6, 2010 8:59pm
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J16 Senior Member cczar
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Quote:
Originally Posted by bundyraider
I could ask the same of you. Seen you at some weird hours too!

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I was going to say the same thing to joel. lolll
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 6, 2010 9:02pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
That's we like DBHLCs or BEOBs at swing Highs. Not at Swing Lows.
That's how they usually behave at swing lows.
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Oh . . . by the way skinfx . . .we hit the 1.64 on the Gbp/Chf . . .lol
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 7, 2010 2:30am
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J16 Senior Member cczar
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Quote:
Originally Posted by scott087
Which is why I cannot resist an IPB at a perfect location 
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I've seen similar PBs fail the same way, maybe the size was not big enough inrelation to the move down . . .but then again today was a bit different. lol
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 7, 2010 7:40am
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J16 Senior Member cczar
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You guys ready for the next move down?
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 7, 2010 7:52am
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J16 Senior Member cczar
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Quote:
Originally Posted by benji533
haha my head was at an extremely different place while that craziness happened.
What about spending 30mins maximum per day in front of the charts and still get around 20 A+ trades a month? 
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That's it my friend.   Easy stuff.
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 7, 2010 7:54am
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J16 Senior Member cczar
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Quote:
Originally Posted by nasir.khan
Yes.......
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Some bullish PA would be nice there nasir . . . if it gets there.
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 7, 2010 8:02am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Jarroo. would you be kind enough to throw a pair at me for PPZ practice?
will pop them in and post it.
I am using the Highs and lows on monthly about 500 pips each side of current price then going down to weekly and daily.
Still not comfortable with them, I think it is the way some people mention I still have too many, yet some others do not seem to think so.
Anyway, I would really appreciate it if you could have a quick scan at them and suggest some changes.
Thanks in advance.
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Sure thing Pb
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 7, 2010 8:06am
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J16 Senior Member cczar
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Quote:
Originally Posted by nasir.khan
You know too much Jarroo too much.....
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lol I don't know squat. But what I do know is that there is heavy momentum to the downside (Gbp. Eur, etc) and that trying to buy into that without some spectacular Bullish PA is a fools game.
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 7, 2010 8:42am
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J16 Senior Member cczar
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Quote:
Originally Posted by extraneo
So is not the time to enter the market?
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Its never a good time to just "enter the market", be it today or any other day, if that's what you mean.
We like to enter the market with an A++ trade, a Price Action setup with everything going for it with a good indication where its going to go so we can either exit or adjust our position.
__________________
Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, May 7, 2010 9:14am
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May 7, 2010 8:54am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Jarroo
EJ is pretty hard to show on H4 on this laptop with that spike today.
Weekly & Daily
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Nice Job Pinbar. They look good.
One way to check if your PPZ levels are any good is to go back in history and see how those levels acted in the past. Just uncheck your "Chart autoscroll" and take a look.
Here's what I got.
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Indicators show the past. Price Action "Indicates" the future.
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May 7, 2010 9:02am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Jarroo
EJ is pretty hard to show on H4 on this laptop with that spike today.
Weekly & Daily
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I missed that level you had . . 134.62 . I like to round that up to a BRN the 135.00. There that's better.
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 7, 2010 9:07am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Thanks Jarro. I appreciate your time.
You seem to have rounded them off much more than I did.
I am trying to place these from right to left as someone mentioned that it is a better way to do it.
Just posting the scroll back so I can compare them more easily.
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Yeah I do round them off a RNs when it makes sense. Just remember that these are zones or areas where Price has turned from Resistance to Support or Support into Resistance. Whether you get them from right to left or left to right.
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Indicators show the past. Price Action "Indicates" the future.
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May 7, 2010 9:27am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Jarroo
Weekly & Daily
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When you move down to the daily you can really see the weekly PPZ standout. Daily PPZ (in blue) can be found within the Weekly PPZs. But you can see the Weely/Daily PPZ levels rule.
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Indicators show the past. Price Action "Indicates" the future.
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May 7, 2010 9:33am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Many thanks Jarro.
EDIT
There sure is some nice PA around those areas and swing highs.
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Yes Pb ! !
You can see now why picking just a random Price Action formation is not the best way to go. PPZ levels play an important role in each setup.
And you can get even pickier.
Excellent Pinbar.
"Sexy PB" . . .I thought I was the only one that thought that way lol.
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 7, 2010 9:45am
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J16 Senior Member cczar
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Quote:
Originally Posted by Atc
My deep thanks to the seniors and those who all participate here...and to the noobs who ask questions....it all helps.
Just wanted to post 2 charts that I have combined J16 methods with my previous knowledge....
Basically took shorts....due to the trend....took retracement fib 61.8% entries at RN's and previous resistance....took 1st target and moved stop to free trade...waiting for 2nd tgt hit exits at next support levels
Thought I would post to say thanks---FWIW
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Nice confluenced level with the trend. Well done Rac . . I mean . . . Atc.
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 7, 2010 10:05am
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J16 Senior Member cczar
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Quote:
Originally Posted by Atc
Did I catch your drift....these a Rac type trades?
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Yes they are. Check out his posts, they will look familar.
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 7, 2010 10:14am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Yes, it is like mapping out hot spots. Now, all I need is the patience to wait for price to come to me rather than chasing it.
Once again thank you for your kindness Jarroo.
A shining example of sharing & caring ! 
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Some people never get that Pb, and you got it in one sentence.
Your welcome buddy. 
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 7, 2010 10:36am
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J16 Senior Member cczar
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Quote:
Originally Posted by squeezy
everywhere seems quiet after yday's explosive moves....
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Very nice squeezy. That's some Bold PA you got there. 
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 7, 2010 11:01am
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J16 Senior Member cczar
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Quote:
Originally Posted by squeezy
thnx Jim
yup, just the kind of PA shape & size we love to see @ sweet locations....
be + 1 is fine with me....calling it a day, going to go relax
have a lovely weekend guys
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You too squeez and don't lose that grin on your face this weekend.
Great charts,
Jim
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 7, 2010 11:24am
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J16 Senior Member cczar
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Quote:
Originally Posted by bundyraider

Like this...
(Good job pb.  )
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Yeah something like that bundy. But that would be more of a Monthly PPZ . wow . that would be even stronger. (how did I forget the Monthlys  )
Edit: Monthly? . .that's a Yearly PPZ level. Double Doh  
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 7, 2010 11:48am
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J16 Senior Member cczar
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Quote:
Originally Posted by bundyraider
Don't care if it's monthly or whatever.
Just that that level jumps out over all the rest. More chance of 'runners' off of those. 
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Absolutely. Nice.
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 8, 2010 1:09am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
I am starting to notice how a good PA candle that was a clear runner on a High TF, seems to show us some good PA in the future, if we place a PPZ line on the High and Low.
What fun this is, and to think I hated drawing PPZ. I think Jarroo and Bundy may have opened a can of worms here. loL
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Hold on there cowboy.
Pb, it's great that your looking at past PA at these higher time frame PPZ levels. It's excellent! Keep doing it.
But now we want to be much pickier on the setups that are presented. We want our Bullish PA at swing Lows and Bearish PA at swing High confluencing with PPZ levels and other confluences Like a BRN, 50%, Fib levels, etc.
Why? Because swing High/Lows provides Space or low traffic so that it won't impede or interfere with our trade, when Price breaks.
The BEOBs (in blue) are much better setups to trade. Noitce the 1st one didn't break so that saved us from a big loss. The PPZ levels, when Price broke the 2nd one, were target areas where Price could have turned on us or stalled but price kept going. Mr. Soros had other plans for the Pound at the time.
__________________
Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, May 8, 2010 1:22am
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May 8, 2010 1:37am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
I am starting to notice how a good PA candle that was a clear runner on a High TF, seems to show us some good PA in the future, if we place a PPZ line on the High and Low.
What fun this is, and to think I hated drawing PPZ. I think Jarroo and Bundy may have opened a can of worms here. loL
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On the 4 Hour Gbp/Usd
Here again, the 1st blue BUOB was a much better setup because it was at a swing low with a PPZ level as support. The 2nd BUOB was at a swing high and would be viewed as a continuation setup. As you can see, they can work out nicely. But they can be risky in the long run. Check out the BUOB in green at the top.
Keep going Pb, your doing great. 
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 9, 2010 3:24am
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J16 Senior Member cczar
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Quote:
Originally Posted by jeurre
anyone talked about this setup? seems meet criteria of size and location, are we going to have a bear market, if break down the ppz?
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Breaking the 75.00 PPZ may be tough. We see it all the time . . . Nice big PA at a swing High/Low only to be sitting on a strong PPZ level. It can work to our advantage in that if it does break hard, it provides a good place (75.00) to tighten our stops.
Would have like to have seen that BEOB close below the 75.00. It maybe a good place to see some bullish PA (at the 75.00 or 73.00) to see if the uptrend continues.
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 9, 2010 2:31pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jeurre
Dear Jarroo brother, not intended to argue with you, just ask second time, if you still think it will be tough to break 75, after seeing the monthly view. I just noticed the big beob on monthly a couple munites ago, so, post the chart again to get your view. the sure thing to me is that, the uptrend remains intact. the reason why I am thinking it's the potential turning point of trend is I believe PA provides earlier clue, given its 50fib location, size and space too. wishfully, 75 ppz could serve its sychological purpose at the current market condition...
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Hey jeur. The Monthly chart is a great example of what I'm talkin about.
The current Weekly BEOB is running into traffic. Yes . . the strong move down may have the momentum to continue through the 75.00 and 73.00 and even the 70.00. I agree.
Notice that Monthly BEOB back in July 2008. (Or a cool looking 2 Month PB.) Price breaks and runs nicely down, due to its lack of traffic. Then it hits the yellow area (traffic) and then reacts.
The Weekly BEOB is now running into some traffic. There should be a reaction. If there is no reaction. . . look out below . . .were heading down.
__________________
Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, May 9, 2010 2:58pm
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May 9, 2010 2:37pm
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J16 Senior Member cczar
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Quote:
Originally Posted by triger88990
Is seems that have been induced a misunderstanding here, maybe I haven't put it right, but I was referring more about governments and those who are in charged with making decission, which decision can dictate a change of the course of history, not that the capitalism system is to be blame, but more the greed of those who are in charged as I you guys have emphasised
We can talk all the day long about it and nothing will change so is better to stay focus on the curent market condition.
all the best!!
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Here's a nice little video . . .the last 2 minutes explains it well.
http://www.wimp.com/thegovernment/
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 9, 2010 2:55pm
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J16 Senior Member cczar
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Quote:
Originally Posted by extraneo
jim's rules are based only on the daily chart or also consider weekly or monthly?
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Yes, absolutely.
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 9, 2010 3:03pm
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J16 Senior Member cczar
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Quote:
Originally Posted by extraneo
Therefore, two consecutive low bar can be a good entry point
even if the chart weekly says up?
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Do you have a chart example of this?
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 9, 2010 3:10pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Steve0001
Any opinions about what the most recent PA suggests for the USDSGD? The H4 shows an IPB which suggests it will go up, but it is already near a swing high. So I don't think it's a good trade.
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Could you show the Daily and Weekly PPZ levels on your 4 Hour chart?
Thanks.
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 9, 2010 3:19pm
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J16 Senior Member cczar
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Quote:
Originally Posted by extraneo
i have not chart
for me it is a theoretical question...
then with your question, you tell me when there are two consecutive low bar, the weekly trend should be down or that it is very likely that the weekly trend is short laps?
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Yes, it would be fair to say that if the higher time frames (Weekly and Monthly) are showing lower Lows that the overall trend is down.
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 9, 2010 3:40pm
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J16 Senior Member cczar
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Quote:
Originally Posted by extraneo
if the weekly and monthly trend are short, two bars daily matching highs, together with a ppz are enough to determine a change of trend (even short-term) long?
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Its hard to understand without a chart.
Do these charts reflect your question?
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 9, 2010 4:04pm
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J16 Senior Member cczar
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Quote:
Originally Posted by extraneo
enter short where are the arrows, although the weekly trend is up?
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Yes . . Price Action is showing the way.
Weekly may be showing an uptrend but it is also showing a consolidation area as well. PA setups on top or on the bottom of consolidation areas can be very effective.
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 10, 2010 5:01pm
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J16 Senior Member cczar
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Quote:
Originally Posted by nasir.khan
Yes.......
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Quote:
Originally Posted by jarroo
Some bullish PA would be nice there nasir . . . if it gets there.
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Nice 8 hour PB on the Usd/Chf this morning. A bit of traffic but a nice rejecton of the 1.1000 and a hard break.
Notice the tests and retesting of the Targets and/or FTAs on the lower time frames. Targets and/or FTAs were selected from the time frame that the setup was present, 8 Hour time frame.
Why can't they all behave like this one. Should be fun to follow this one, just to see if it behaves properly. 
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 10, 2010 5:22pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jeurre
Superb, let's react accordingly too, thanks 
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No surprise here, right jeur? 
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 10, 2010 5:35pm
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J16 Senior Member cczar
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Quote:
Originally Posted by joelcf
I like that one as a bigass with-trend pinbar on a breakout failure w MA/PPZ rejection and packing more momentum than a fat chick at half price-buffet night
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If we can break through the 1.0200, I see Price going for the 1.0 for seconds (or is that thirds and fourths) lol
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 10, 2010 5:54pm
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J16 Senior Member cczar
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Quote:
Originally Posted by squeezy
yup, a no brainer trade here J
check out 8hr eurusd, 8hr eurchf, etc
kind of tired, need to sleep....
ill post some charts later
btw, theres a + at the end of my name , what does that mean
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Nice on the euro , off the 1.3.
"+" by your name . . .your on your own buddy list. 
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 10, 2010 6:10pm
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J16 Senior Member cczar
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Quote:
Originally Posted by (Yaniv)
Nice looking PB on the 8H TF (EURJPY), we have got some strong PPZ right on the BRN of 120.0.
This setup was taken of MT5 platform.
FTA was in the flip of high/low (Blue rectangle), moved to BE just few pips above that area.
Final result was BE.
Yaniv
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Nicely done Yaniv. Classic. 
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 10, 2010 6:18pm
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J16 Senior Member cczar
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Quote:
Originally Posted by (Yaniv)
Thank you Sir, i'm most honored to see your post with regards to my setup.
Yaniv
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James16 would have traded it the same way.  Although he would have put some pips in the bank, of course.
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 10, 2010 6:31pm
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J16 Senior Member cczar
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Quote:
Originally Posted by (Yaniv)
Another Setup, this time on the EURUSD 8H PB (Again MT5 platform).
In the last couple of days i had played with the aggregation bars indicator, I had found that creating bars on major PPZ can work just great.
In this trade we got a big PB on the very BRN of 1.3 (every 1000 pips), FTA area is where bars low/high are (Blue rectangle).
Price had come to that area, I moved to BE and as of now i'm still in it.
Now, that i'm at BE I can HOPE that i will have a runner.
Yaniv
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Good stuff Yaniv. Trading away from those BRN are effective. Again, I think that Mike guy is on to something. lol 
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 10, 2010 6:40pm
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J16 Senior Member cczar
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Quote:
Originally Posted by (Yaniv)
Another Setup, this time on the EURUSD 8H PB (Again MT5 platform).
In the last couple of days i had played with the aggregation bars indicator, I had found that creating bars on major PPZ can work just great.
In this trade we got a big PB on the very BRN of 1.3 (every 1000 pips), FTA area is where bars low/high are (Blue rectangle).
Price had come to that area, I moved to BE and as of now i'm still in it.
Now, that i'm at BE I can HOPE that i will have a runner.
Yaniv
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You gotta love the hard break and the nice retest of the break (as seen on the Hourly).
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May 11, 2010 2:37am
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J16 Senior Member cczar
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Quote:
Originally Posted by (Yaniv)
Same story with CHFJPY 14H PB, closing on a minor flip of PPZ
It's all about location, price is price no matter what the TF
Yaniv
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Go Yaniv, Go. 
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May 11, 2010 5:45am
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J16 Senior Member cczar
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Quote:
Originally Posted by (Yaniv)
Hey All,
I have got a question for you and really appreciate if you can tell me what you think about this post.
I had opened my MB TRADING MT4 platform and had spotted a nice PB on the daily TF (GBPJPY).
As you may know the end of the daily in that platform doesn't match to the end of the NY session (like in fxpro).
Do you tend to look at that issue or you wouldn't mind to trade it since the location is great (PPZ+BRN).
In a real account i wouldn't had played it no matter what cause of it's size, but i'm just curious to know what do you...
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As you said Yaniv:
Quote:
Originally Posted by (Yaniv)
Same story with CHFJPY 14H PB, closing on a minor flip of PPZ
It's all about location, price is price no matter what the TF
Yaniv
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The 137.00 is strong level too as the 140.00. Price seems to be testing the PB break. What I would have liked to have seen is that when Price broke the 137.00 to test that level not the PB.
Edit . . Now, Price broke the 137.00. The PB showed some strength. Let's see if the 137.00 can hold some water.
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Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, May 11, 2010 5:58am
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May 11, 2010 5:53am
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J16 Senior Member cczar
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Quote:
Originally Posted by ghous
How much time have you spent looking for A+ setups on the daily and weekly Ertorque?
How much time have you spent trying to be super super conservative?
How much time have you spent trying to be an mbqb11?
I have repeatedly mentioned in my posts that the "IPB" is an advanced concept. It ain't any license for more free money. If you don't get that straight you're in for a horrible awakening...
An IPB just like any other PA bar is only an "excuse" to enter the market, what's important...a lot more important is the big picture.
We've...
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Great post g.
I'll keep it handy for a repost when needed. 
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May 11, 2010 5:57am
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J16 Senior Member cczar
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Quote:
Originally Posted by iForex
Hi, fxprocessor
what are the green and yellow lines on your chart?
thanks
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365 ema green and 150 ema yellow.
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May 11, 2010 6:24am
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J16 Senior Member cczar
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Quote:
Originally Posted by (Yaniv)
Yes, i saw that 137.0 area, it's just that on the prior bar i didn't see any reaction around that area so didn't point that out.
I know I think price is price no matter the TF, the question is do YOU think like that ?  , again i know i should trade MY trading plan and that's what i'm going to do (meaning if i get an answer about that question from many people it won't affect my thinking), i'm just curious that's all
Yaniv
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Yes, Price is Price no matter how you chop it up. I do think that the higher time frames carry more weight (strength) then the lower time frames just because they provide more info or data.
But, as you know, location (PPZ levels) is the key.
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May 11, 2010 6:36am
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J16 Senior Member cczar
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Quote:
Originally Posted by (Yaniv)
Thanks Jim, appreciate your opinion on that issue.
As for that trade, wouldn't take that kind of setup since the bar is not significantly bigger than the bars around it, but if it did i would ignore the 137.0 area and go for the 135.7 which is that bar's low.
Let's look if it will go to there
Yaniv
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You gotta like the direction of the trade after such a strong move down. I have found that PA with the trend can be more forgiving in size. Let me put it this way . .this was no baby PB.
previous bar low . .135.73. 
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May 11, 2010 6:47am
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J16 Senior Member cczar
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Quote:
Originally Posted by (Yaniv)
Trading with the trend is safer IMO big time.
What worries me here is that big wicks around the area of 130.0 - 135.0 (big area  ).
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I like your optimism, Yaniv. lol
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May 11, 2010 6:57am
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J16 Senior Member cczar
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Quote:
Originally Posted by TGpop
why you guys bring your stop to breakeven so quickly, is truly beyond me .
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You may want to direct your dismay to James16.
Nice lead in to a James16 rant . . Where ever you are? 
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May 11, 2010 5:51pm
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J16 Senior Member cczar
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Quote:
Originally Posted by beebolbod
oh i'm not worried, but the 150 is the 150. Should be in same place on everyone's charts no?
I was just curious.
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Different brokers have different "Close" times. Since the 150 EMA is at the "Close", the 150 EMA will reflect this difference on different brokers.
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May 11, 2010 6:11pm
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J16 Senior Member cczar
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Quote:
Originally Posted by fxprocessor
Now short off the 4 hr inside bar trigger. Time for sleep.....
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It may have been best to wait for the break of the Daily IB. Due to the Daily PPZ level that the Daily IB is sitting on and the 4 hour IB is trading into.
Just some thoughts fxp.
Jim
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May 11, 2010 6:28pm
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J16 Senior Member cczar
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Quote:
Originally Posted by fxprocessor
Yeah a valid comment. I did think about this but looked at the 4hr ib as a leading indicator as to where price wants to go. I am happy to let it do its thing now.
I also trade smaller size on i4b than on reversal bars so no worries.
cheers
fxp
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Also the .9000 could do its thing, meaning . . . give Price a reason to run away from it. lol 
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May 11, 2010 6:33pm
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J16 Senior Member cczar
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Quote:
Originally Posted by joelcf
I like that one as a bigass with-trend pinbar on a breakout failure w MA/PPZ rejection and packing more momentum than a fat chick at half price-buffet night
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Quote:
Originally Posted by jarroo
If we can break through the 1.0200, I see Price going for the 1.0 for seconds (or is that thirds and fourths) lol
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Hey joel.
Price did give a nice hard break of the 1.0200 on the Cad. Yet it didn't retest it. (darn)
Although it is testing the bottom of the 4 hour consolidation. I like its chances. Should be fun to watch.
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May 12, 2010 5:32am
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J16 Senior Member cczar
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Quote:
Originally Posted by Steve0001
So where would you look to enter conservatively? Just below the low of the inside bar (about 0.89310) or below the low of the larger bar (about 0.88600)? Thanks.
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I would look to enter much like fxprocessor did. Although my entry would have been just below the Daily IB due to the PPZ level it was sitting on. And then use it like fxp, as a stop to see if Price retests it. Maybe use the free trade approach when Price hit the .8900. I would probably have had the same result, B/E trade.
.88600 larger bar?
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May 12, 2010 5:41am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
I was considering taking this PB but on further consideration and adding the second fibo. I see there are more reasons to not take it than there are to take it.
Comments or advice on PPZ heartily welcome.
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That little bullish PB at a swing high. That reason alone is enough to say pass for me, Pb.
We are at a swing High confluencing with some higher time frame PPZ levels. Looking for some nice big Bearish PA is what I would be doing, Pb.
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May 12, 2010 5:50am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
I am still waiting for the smoke to settle and have been practicing placing PPZ.
Would appreciate comments and especially the negative ones.
Basically, I am using a round number indicator set at 500 & 200 but I only have it display on H4, then I am starting on the Monthly (Purple lines) and am making sure I get all the little flips on W1 (Red lines). As I am drawing a lot of PPZ on the weekly, I am not drawing them on D1 or H4 as it seems to cover them well and, the ones I don't get, the round number indicator seems to point them out well, without...
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Very good Pb. They look great. 
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May 12, 2010 6:01am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Yes, I see what you mean.
I must learn to watch PA on higher TF and not only the TF I am trading.
Appreciated Jarroo
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(on your chart)
Is this what I mean about what? The size of the PA?
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May 12, 2010 6:04am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Many thanks Jarroo.
But, I was anxiously anticipating some negative comments.
Humans are never satisfied.
By the way, I slipped back into my, I can't draw these PPZ, what if I am missing one! I need an indicator........I am over it now.
Phew, crafty things these indicators combined with human emotions of fear.
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Just look at your Daily and 4 hour chart. Nice clean lines showing Price flips. Only about 5 on both, nice.
Not sure why you use the short term moving averages. It kind of blocks Price. But if you use them . . ok.
Your eyes are the best indicator.
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May 12, 2010 6:10am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
I meant the PB at the swing high.
That little bullish PB at a swing high. That reason alone is enough to say pass for me, Pb.
PS: Yes, I will kill the 10 & 25 EMA
Jarroo.....Can you throw a bit difficult pair at me for PPZ practice?
I am convinced that PPZ are more than half the battle.
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The little PB from you chart.
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May 12, 2010 6:16am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Jarroo.....Can you throw a bit difficult pair at me for PPZ practice?
I am convinced that PPZ are more than half the battle.
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Try this one.  Use only 4 or 5 lines. Only the best ones.
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May 12, 2010 11:39pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Phew.....This is a REAL tough one.
No matter how I move the lines, it always appears like I need one more line where I drew the RED one.
I do not think this is correct at all.
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Quote:
Originally Posted by jeurre
hey, jarroo, let me participate in the exercise too. am I drawing them in an optimal manner? thanks
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Quote:
Originally Posted by nasir.khan
Can i play too??????...pleaaaaaase. lol
.
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Nice job guys.
They all look great.
Here's mine.
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May 12, 2010 11:57pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
You used 6 lines Jarroo! LoL
Many thanks for your kind help, it is extremely encouraging.
Any chance of another reasonably hard one, just to make sure.
Regards
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lol Just showing the Big BEOB off the 15.00 BRN.
Sure PB . . .this time you pick the pair.
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May 13, 2010 12:17am
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J16 Senior Member cczar
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Quote:
Originally Posted by jeurre
very helpful, jarroo. thanks !
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There is nothing like a clear cut PPZ level, no matter what the broker or how Price is cut up.
Now I'm not suggesting these little PBs are A+, but the PPZ levels can work to your trade management advantage when hidding behind them if your looking for a small stop setup.
__________________
Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, May 13, 2010 1:23am
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May 13, 2010 12:33am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
EJ is flagging around the 50 fibo and BRN 118.
Double IB and last one is smallest candle in 27 candles.
Just keeping my eye on it.
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Nice Double Inside Bar. I like when they are back up against the wall of a PPZ level and with the current trend.
I've been waiting to go short on the Cad. This Double IB on the 4 hour Cad is working nicely.
Dale would be proud. Where ever he is. 
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May 13, 2010 12:42am
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
Nice Double Inside Bar. I like when they are back up against the wall of a PPZ level and with the current trend.
I've been waiting to go short on the Cad. This Double IB on the 4 hour Cad is working nicely.
Dale would be proud. Where ever he is. 
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And Yes it's behaving properly by retesting the break.
Confluence and confirmation is what I like.
(Confluence and Confirmation . . umm . . sounds like a good book  . . .but I'll have to have Joel write it.)
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May 13, 2010 1:12am
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J16 Senior Member cczar
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Quote:
Originally Posted by supremeChaos
i see Sir Dale from time to time (as recent as this week/last week)... down there in the "Traders Viewing This Thread" list (i check that list religiously) 
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Yeah I see him down there too . . now and again. Its good to see that he's checking in.
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May 13, 2010 1:13am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Ok Jarroo XAG/USD whatever that is. 4 ppz
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lol. 
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May 13, 2010 1:25am
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J16 Senior Member cczar
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Quote:
Originally Posted by Dale
Nice trade Jarroo.
Dale
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Speak of the devil . . lol . . 
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May 13, 2010 1:57am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
I think this will hold up but maybe not perfect.
Sort of shot myself in the foot with the "4 PPZ" comment. LoL
Certainly helps one when looking at charts, it took me 5 mins to find a chart, I thought was a little difficult. Now, a week ago, they were all difficult.
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Ah shoot . . . lol . . I picked the wrong chart. I did XAU/Usd.
I'll find the right chart this time.
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May 13, 2010 2:13am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
I think this will hold up but maybe not perfect.
Sort of shot myself in the foot with the "4 PPZ" comment. LoL
Certainly helps one when looking at charts, it took me 5 mins to find a chart, I thought was a little difficult. Now, a week ago, they were all difficult.
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Nice job Pb.
I like the PPZ levels or "Price flips" where Price moves at an extreme. Meaning, Price move very sharply away from that level. Like at the 16.00 and 11.70.
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May 13, 2010 2:32am
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J16 Senior Member cczar
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Quote:
Originally Posted by Dale
Here is one of the reasons I like Jaroo's Trade
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Space to cover risk . . wow . I like it Dale. Glad you dropped by. 
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May 13, 2010 2:42am
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J16 Senior Member cczar
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Quote:
Originally Posted by Dale
As PC would say, " a word to the wise is sufficiant".
Best regards,
Dale
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Thanks Dale.
I wonder what he is up to these days.
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May 13, 2010 2:49am
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J16 Senior Member cczar
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Quote:
Originally Posted by ertorque
Dale would be proud of this one too although this isn't stacked against any PPZ or BRN
CY
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Yes he would. G/J 4 hour had one as well.
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May 13, 2010 2:55am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Many thanks Jarroo.
Interesting and indeed very practical how you choose the areas price just took off. Another point to keep in mind.
I bet Jarro could draw PPZ on the entire residents of an ant hill.
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Your doing great yourself Pb.  The big obvious ones are best as bundy said. If your making it to difficult, your doing something wrong.
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May 13, 2010 3:02am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Nice one Jarroo.
Did you place the SL above the 1.0200 or perhaps above the 365 EMA?
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Yep , just above the 1.0200.
How does the 1.0200 look on the weekly time frame Pb?
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May 13, 2010 3:34am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Presumably, Jarroo is already at TP1 somewhere in the vicinity of 1.0110, SL at BE+.
TP2 possibly around 1.0080
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Something like that Pb. lol
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Last edited by jarroo, May 13, 2010 3:53am
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May 13, 2010 4:11am
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J16 Senior Member cczar
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Quote:
Originally Posted by jeurre
cool, bro
I am watching this IB on daily, and see if H4 provide any clue upon closure.
Another one on watchlist to be posted next
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Something definitely going on there. 
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May 13, 2010 5:04am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
I am watching GBP/JPY.
Trouble is, PA is going sideways.
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There's your PA, Pb. BEOB.
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May 13, 2010 5:06am
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J16 Senior Member cczar
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Quote:
Originally Posted by lovejoy80
GJ - daily IB and 1HR BEOB off PPZ, falling TL and 61 fib...getting into a break of the IB at a discount? maybe. It hit FTA very quickly.
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Nice one lovejoy. 
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May 13, 2010 5:27am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Testing the 138.
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It sure did, test the 138.00.
A lot a traffic in this one. Like you said, PA sideways or in a consolidation area. No at a swing high where we would like a BEOB to be.
Gotta go. Manage it wisely. 
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May 13, 2010 5:28am
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
It sure did, test the 138.00.
A lot a traffic in this one. Like you said, PA sideways or in a consolidation area. No at a swing high like we would like a BEOB it to be.
Gotta go. Manage it wisely. 
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Remember this post from Mike.
Quote:
Originally Posted by mbqb11
Hey Han
As you can see PA can work in so many LOCATIONS. But then we have to determine the best course of mgmt. I have taken trades at every location you can think of and all I try to do is figure out the best course of mgmt based on that action. These types I think a quick t/p is best or at least getting to b/e faster b/c these are areas for snap backs to occur(as they were the last true demand). So traders watch it in that manner.
Best
Mike
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Later,
Jim
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May 13, 2010 5:24pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Atc
A few charts I'm watching prior to daily close 5 pm ET
Don't pay attention to PPZs or Fibs on my charts>>>>did not have a chance to correct them.
Just looking for thoughts...still learning
Thanks---if you want to comment
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Nice Atc. I like the Chf/Jpy and the Cad/Jpy ain't bad either. 
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May 13, 2010 5:26pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
Nice Atc. I like the Chf/Jpy and the Cad/Jpy ain't bad either. 
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Let' see how it breaks.
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May 13, 2010 5:35pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jeurre
I spotted your FTA, but, didn't notice the second one when doing my own, I am so careless, this could explain the reason why I can not manage my trade wisely. reading your charts always discover insight, bro !
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Sorry I was short with you guys this mornings. I was running late.
The FTAs were mainly just the RNs in the path of Price. You can see how they also had some PPZs characteristics.
(The Path of Price . .umm . . another good book title  .. I gotta PM Joel. lol)
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May 13, 2010 5:46pm
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J16 Senior Member cczar
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Quote:
Originally Posted by slade1986
Here's what I have on chfjpy, Thoughts on the PPZ Zones marked in blue?
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That's a nice PPZ level on the 4 hour time frame. The BEOB is on the Daily so the Daily PPZ levels are what we like to key on. Don't get me wrong the 4 hour Levels are important but as to how they are reflective on the Daily.
Meaning, the Daily bars Lows in blue have been a good support level. Now Price is breaking though (or at least trying too lol) So now Support can turn into Resistance. We shall see. The BEOB has shown us the hint that it could happen.
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May 13, 2010 5:55pm
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J16 Senior Member cczar
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Quote:
Originally Posted by NosferatuMan
Hey jaroo,
If I may ask, what is your FTA? The close of the gap?
Nos
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That would work. The closer the obvious FTA the better. The previous bars lows from a while back could be reached. Should be some reaction there.
One concern is the time of Day, early in the asian session.
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May 13, 2010 5:57pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jeurre
hey, jarroo, good morning (greeting from asia). I closed my position near above 136, after having seen your chart, gready kicks in, wow,135 now....... hehe ,kidding 
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That's excellent jeur. Nice. 
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May 13, 2010 6:11pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jeurre
oh well, I must be stupid and have too many questions, but, pardon me, jarroo, why you said "The closer the obvious FTA the better" ? sounds like if the obvious FTA is close to the entry point, it has less strength to stall the price move, is it what you meant by that?
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You know James16's "This is Critical" right? : http://www.forexfactory.com/showpost...ostcount=15568
Usually we pick the high quality setups were the momentum will give it strength to roll through the minor FTAs.
Good stop loss (for me) would be above the blue line or above the 83.25 PPZ level.
Time of day is always a concern with how price breaks a trigger. Sometimes I wait until closer to london and sometimes I don't . .How do you like that answer. lol
Serious though, waiting for retests of the support level and /or PPZ level may happen.
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Indicators show the past. Price Action "Indicates" the future.
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May 13, 2010 6:20pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Mauzzz
I'm taking that trade. Price missed my entry by one pip and it seems that we're currently testing the 83.00 level.
How would the time of day affect your trade decision or trade management?
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If its a nice big A+ setup . . . the time of day would have no affect. The BEOB is not the ideal location (better at a swing High). But it does have some good qualities ( blue line of Support turning into Restance, etc.)
I like this post from Mike. If its not the ideal I tend to be very tight in my trade management.
Quote:
Originally Posted by mbqb11
Hey Han
As you can see PA can work in so many LOCATIONS. But then we have to determine the best course of mgmt. I have taken trades at every location you can think of and all I try to do is figure out the best course of mgmt based on that action. These types I think a quick t/p is best or at least getting to b/e faster b/c these are areas for snap backs to occur(as they were the last true demand). So traders watch it in that manner.
Best
Mike
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May 13, 2010 6:25pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Mauzzz
I'm taking that trade. Price missed my entry by one pip and it seems that we're currently testing the 83.00 level.
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Absolutely. The 83.00 (support level) is being tested. May now turn into Resisitance.
What would it mean if the 83.00 fails the test?
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May 13, 2010 6:30pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Atc
A few charts I'm watching prior to daily close 5 pm ET
Don't pay attention to PPZs or Fibs on my charts>>>>did not have a chance to correct them.
Just looking for thoughts...still learning
Thanks---if you want to comment
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Watching the Cad/Jpy to Atc. Nice charts. 
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Indicators show the past. Price Action "Indicates" the future.
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May 13, 2010 6:42pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Atc
Appreciate your dedication to this thread....may the market bring you "Gifts" 
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Thanks Atc.
Although it seems like sometimes I take or steal the gifts from the store. lol
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Indicators show the past. Price Action "Indicates" the future.
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May 13, 2010 6:46pm
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J16 Senior Member cczar
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Quote:
Originally Posted by mbqb11
steal away buddy 
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lol. There's some "Wanted Posters" of you all over the market my friend. lol
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May 13, 2010 6:48pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Atc
I believe you are just taking advantage of opportunities presented to you!
I guess it's a perceptual thing.
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"advantage of opportunities presented" . . . better said Atc. 
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Indicators show the past. Price Action "Indicates" the future.
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May 13, 2010 7:01pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jeurre
please see in blue color
I guess you were referring to resistance(previous support level), coz we are talking about short. you wanted to enter the short when price retest the resistance,is it correct, jarroo? but, which one of them, the blue line or the low of the setup( I mean the bar low immediately preceeding to the current one)?
thank you, bro
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Well its not Resistance yet. We would like to see this happen. Price may just shoot up again and consolidate between the 83.00 and 84.50. The key hint here is the BEOB. Its of good size and it engulfs a couple bars. But its not at the location we want them to be . . at a swing high.
So it can be risky to enter at the testing of the 83.00 or 83.25. Its possible with a tight S/L, but not the ideal.
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May 13, 2010 7:17pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jeurre
okey, let me put my take in blue color again
Quote from jarroo
+++++++++++++++++++++++++++++++++++ +++++++++++++
You know James16's "This is Critical" right? : http://www.forexfactory.com/showpost...ostcount=15568
Usually we pick the high quality setups were the momentum will give it strength to roll through the minor FTAs.
[color=blue]my take is the assumption that price most likely to hit FTA while I was concerned it may...
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Look at the 4 hour BEOB on the Eur/Jpy from yesterday.
The 1st green line (previous bar low) I would consider the First Trouble Area the 2nd green line (previous bar low) as the Target to either take profit or adjust my position.
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May 13, 2010 7:30pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Mauzzz
Well, that would mean it didn't really turn into resistance and the setup would lose one of its main advantages, which for me was the previous 83.00 level acting as support.
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Yes Mauzz. I couldn't have said it any better.
Now it doesn't mean that BEOB may fail or invalidate itself. It means for me that I would not take a full bar loss because its not the best BEOB in terms of location.
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Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, May 13, 2010 7:41pm
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May 13, 2010 7:36pm
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J16 Senior Member cczar
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Well the Cad had its chance to go for the 1.0. Let's see what this bullish PB will bring.
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May 13, 2010 7:40pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Mauzzz
Full bar loss? I thought you too were a fan of reduced stops. :P I try to place my stops behind some logical points (such as BRNs, PPZs). In this case I placed my stop at 83.15 relying on the strength of the 83.00 level which seems to be holding fairly well right now. But I guess it will be only when London opens that we'll really find out how this setup turns out. 
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Sorry that was a typo.  I would not take a full bar loss.
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May 13, 2010 7:46pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Mauzzz
Full bar loss? I thought you too were a fan of reduced stops. :P I try to place my stops behind some logical points (such as BRNs, PPZs). In this case I placed my stop at 83.15 relying on the strength of the 83.00 level which seems to be holding fairly well right now. But I guess it will be only when London opens that we'll really find out how this setup turns out. 
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I like that stop loss placement muazz. I'm still would like to see a hard break asian session or no asain session. 
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May 14, 2010 4:32am
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J16 Senior Member cczar
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Quote:
Originally Posted by Mauzzz
Well, that CHF/JPY trade didn't work out well for me. I got nicked in by two pips and then price reversed and took me out. And now I'm watching it finally making the move down without me. From your experience on trades like these, do you think that 10 pips buffer is not enough, should I use 15?
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Yes a 10 pip buffer is good, on a pair like this a 15-20 pip on the Daily maybe better.
There are many things to be learn from this one. Number 1 is what Mike and James16, and many other would say. . .pass on this one . . . even if it works out. Its just not the ideal A+ trade that we are looking for. BEOB is in a consolidation , not at a swing high. . . next.
With that said, the other things would be the time of day. . .wait until london, No hard break, Price not confirming the break or other levels, etc.
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May 14, 2010 4:44am
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J16 Senior Member cczar
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Look at how PB on the Cad is behaving compared to the BEOB on the Chf/Jpy.
The PB on the Cad is a better setup.
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May 14, 2010 4:51am
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
Watching the Cad/Jpy to Atc. Nice charts. 
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Target hit. Nice test on the 91.12 PPZ level.
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May 14, 2010 4:53am
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J16 Senior Member cczar
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Quote:
Originally Posted by Mauzzz
I am learning this method but I believe in the power of reduced stops combined with quick to B/E approach. It seemed to work quite well in backtesting. In an ideal setup, the price breaks hard and never looks back until reaching the FTA.
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I would agree with that Mauzzz. 
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May 14, 2010 4:57am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
No surprises with this last candle.
Let's see how it closes. 
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So your looking to take a BEOB at a swing Low Pb?
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May 14, 2010 5:07am
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J16 Senior Member cczar
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Quote:
Originally Posted by Mauzzz
Yeah, I picked a wrong trade it seems. Although, the CAD trade is not exactly an A+ setup either, is it?
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Yes, that maybe true. But I'm sure you could say that its better than the Chf/Jpy BEOB.
If you applied the same tight management to the Cad PB as you did to the Chf/Jpy . .I think you would like the results right now.
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Indicators show the past. Price Action "Indicates" the future.
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May 14, 2010 5:09am
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J16 Senior Member cczar
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Quote:
Originally Posted by Mauzzz
And I was thinking of taking that one. It behaved perfectly just as I thought it would. Had I taken that trade, I would have scored a win. Instead, I took the stupid CHF/JPY and lost. Of course, the CHF/JPY now reached my target as well. 
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Time and practise my friend. 
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Indicators show the past. Price Action "Indicates" the future.
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May 14, 2010 5:13am
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J16 Senior Member cczar
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Quote:
Originally Posted by NosferatuMan
I tend to agree with that approach, though I use it less than the full bar SL (mainly cause I can't always be in front of the screen when the trade is triggered).
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A full bar S/L is not a bad way to go. It then comes down to being very picky with your setups.
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Indicators show the past. Price Action "Indicates" the future.
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May 14, 2010 5:24am
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J16 Senior Member cczar
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Quote:
Originally Posted by Mauzzz
Can I ask you why you think that the CAD/JPY pin was better than the CHF/JPY BEOB? I mean, why did you think that prior to having any information on how they're going to behave.
What gives me a little bit of confidence is to see that price eventually did reach the target I thought it would reach. Only without me. Oh well, it will work out next time. :P
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Chf/Jpy was in a consolidation area the Cad/Jpy was not (Cad/J was at more of a swing high. If you can see that.) That was the first thing that came to mind.
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May 14, 2010 5:27am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
I was thinking that, as price has already tested the 50 fibo and been rejected, this may be a trend continuation all the way to the 23.6
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Just understand that the location of the BEOB is not the ideal. They can be risky as a continuation play.
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Indicators show the past. Price Action "Indicates" the future.
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May 14, 2010 5:28am
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J16 Senior Member cczar
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Quote:
Originally Posted by NosferatuMan
Don't get me wrong.
I speak in terms of position sizing and giving a bit of room for the trade do develop (again, we are talking generally and not this specific CHFJPY trade).
This doesn't mean taking a full bar loss if the trade goes against you.
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I see Nos. I agree.
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May 14, 2010 5:50am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
I think it is possibly in the groove.
That said, I also agree that it is not one of those high probability trades, and that is what we are supposed to be learning.
I shall make this another thing to check on my checklist and try to take BU PA at swing highs and BE PA at swing lows.
Thanks for the gentle prod Jarroo.
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Its all about being picky Pb. A+ trades are the way to go. If they are not the ideal . . tight management required. This is just the way I do things. You may find a different style.
I guess you should have left some on the table on the Gbp/Jpy from yesterday.  (just kidding).
(No more "Not worthy" smiley faces please. thx)
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May 14, 2010 6:01am
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J16 Senior Member cczar
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Quote:
Originally Posted by Atc
A few charts I'm watching prior to daily close 5 pm ET
Don't pay attention to PPZs or Fibs on my charts>>>>did not have a chance to correct them.
Just looking for thoughts...still learning
Thanks---if you want to comment
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How did they work out Atc? 
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Indicators show the past. Price Action "Indicates" the future.
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May 14, 2010 6:10am
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J16 Senior Member cczar
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Quote:
Originally Posted by (Yaniv)
This can be a great trade on the CADJPY, I just need that bar to close below that range (that low bar in the Blue area).
May be a BEOB engulfing 2 prior bars + PPZ + BRN.
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Big PA at Big Round Numbers. I nice close below the the 90.00 would be nice. 
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Indicators show the past. Price Action "Indicates" the future.
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May 14, 2010 6:15am
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J16 Senior Member cczar
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Quote:
Originally Posted by (Yaniv)
Yes, but i want it to engulf 2 bars, not just 1. So in this case i will need it to close not just below 90.0 but a little lower (below 89.75 which is 11/05 daily low).
But that's just me being picky
Yaniv
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lol . . . I like your style Yaniv.
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May 14, 2010 6:27am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Yeah....Lol
I did but my TS got hit and I don't like re entering trades.
Still, I traded a full lot and after scaling out, I came out of it with a 7% increase in my account in that one trade alone.
Maybe a full lot is what made me trail it too tight.
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Wow, you may want to take a closer look at your money management. Are trading 1% or 2%? Demo trading of course?
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Indicators show the past. Price Action "Indicates" the future.
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May 14, 2010 6:30am
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J16 Senior Member cczar
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Quote:
Originally Posted by Atc
As you probably saw...these were not A+ trades...however my experience has taught me that I need to let the trade breath, with that said my stop loss on the CHF/JPY was higher than most in addition to needed get some sleep.
Also, it appeared to me that the CAD/JPY PB had that "cherry picker" look to it so was rated higher probably IMO...so lot size was larger.
I am truly indebted to you-Jarroo, the seniors(to many to mention) and all of you here for improving my trading...my trading has become more fun...able to trust what I see...sleep well...more...
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That's great Bill.
I glad you brought them up. It brought about a good discussion.
That "cherry picker look" . . I like it. lol 
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Indicators show the past. Price Action "Indicates" the future.
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May 14, 2010 6:33am
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J16 Senior Member cczar
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Quote:
Originally Posted by nasir.khan
I never understand why it's called "not worthy". 
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Wayne's World . . Wayne's world . lol
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May 14, 2010 9:53am
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J16 Senior Member cczar
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How are those trades working out today guys?
Price Action Rules!
Gotta go.
Later,
Jim
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Indicators show the past. Price Action "Indicates" the future.
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May 14, 2010 5:25pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Daneel
Doesn't this go against, the trend is your friend idea? What makes it more risky as a continuation formation than as a reversal? Pure statistics?
(Not arguing, just wondering)
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They are risky is the sense that they need more confluences to support them. (imo)
SChaos' point is a valid one. You don't want to be selling at low that might be a bottom. Or buying at a possible top.
Much like any other PA setups, continuation setups need confluences that support them. "Continuation" means just that "continuing" with the trend. So that trend confluence is a given. Other confluences like PPZ levels, BRNs and Retracement levels are needed.
But if you can get a breakout pattern to support the continuation setup even better.
Mike has many examples within this thread (and a whole section in the PF) of how he uses these many different breakout patterns with PA as the trigger or confirmation. I think it would be fair to say, its one of Mike's favorites.
Chart example of continuation setups. 4 Hour Gbp/Jpy.
__________________
Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, May 14, 2010 7:08pm
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May 14, 2010 5:33pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Atc
Here's one !
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That's a Bold PB Atc. Bold is good. 
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May 14, 2010 5:48pm
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J16 Senior Member cczar
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Quote:
Originally Posted by fxeturn
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Nice targets fxe.
Once in profit, one could say that its never to early to go to break even. (James16 comes to mind).
Just some thoughts.
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Indicators show the past. Price Action "Indicates" the future.
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May 14, 2010 6:12pm
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J16 Senior Member cczar
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Quote:
Originally Posted by slade1986
USDCAD trade working out. Comments on PPZ's I have marked and overall trade, Please.
Thanks!
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Its a nice trade. Why can't they all be like this one.
Where Price closed today, is a PPZ level (in white on my chart).
One thing I like to do to check my Targets or FTAs on a Daily setup is go to the 4 hour or Hourly and see how Price reacted to those levels. Which are previous High/Lows.
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Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, May 14, 2010 7:03pm
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May 15, 2010 8:31pm
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J16 Senior Member cczar
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Quote:
Originally Posted by mbqb11
Just my thoughts,
Here is where I have seen this said 1000 times but I don't believe it yet. What i mean is if you can't trade and beat a demo account, you can't with real money(while it may make someone more picky this may just be being reluctant and they don't have an actual winning method. Being picky is not a method). The real thing is the ego. If you can beat your ego to trade on a demo to prove yourself profitable, and then move up slowly you are losing out on a lot. You are going to gain so many things that are so helpful down the line...
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I like some of the line of thinking when you don't use a demo acount like a live account . . . you know . . because its just a demo account, not real . . like:
Your trading on demo and you say, "Oh wow . . my trade is losing but on a real account I would exit here . . but this is a demo account, I'll let it go . . . it'll come back".
Or " I missed the signal or trigger, I'll just enter here now. On a real account I wouldn't miss the signal."
Etc. 
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Indicators show the past. Price Action "Indicates" the future.
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May 15, 2010 9:06pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jedlanca
Hello!
Just recently, this thread began to draw lots of attention from me, as I began to "finally" use daily charts as an important part in my trading. Also, thanks to a conversation with a good friend of mine, I realized lots of interesting insights that this group applies (and which I previously ignore because I never dedicate, before, enough time to this thread).
Today, I wanna ask about this specific set of rules. In several backtests, I was surprised to find very few patterns (in months!!) that followed Ghous's rules, until I realized...
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Many brokers will have different closing time due to the GMT times they use. All this shows is Price being chopped up differently. What they do have in common is where Price act as Support and/or Resistance. A very important factor when trading the James16 methology.
Ghous was showing an approach he is working on utilising some of the PA formations with other key locational requirements.
Using a different broker will give signals where others will not and vise versa. They do tend to equal out in the long run.
I think I came close to answering your question?
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Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, May 15, 2010 9:17pm
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May 16, 2010 12:03am
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J16 Senior Member cczar
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Quote:
Originally Posted by jedlanca
Thanks! Indeed, it answers my question, but I have a new one
Based on the fact that we all have different GMT times, I suppose that, in this thread, we might not be looking only for PinBars... but pairs of candlesticks that shows strong rejections, with momentum, from the key location requirements that are mentioned through all the posts. Thus, when some people might be looking at PinBars, one or two hours later (or before!) other people should be looking at engulfings, morning/evening stars at those same key locations.
If I what I said above...
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That's fine. It happens all the time with different broker feeds. One will have a nice bearish PB while another will show at the same time a nice BEarish Outside Bar. Its all one of the same as long as the form or structure of the formations are correct.
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Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, May 16, 2010 12:50am
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May 16, 2010 12:10am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Just getting my charts ready for next week and I came across this PB which was successful. I know it is easy to find them after the fact but, I am trying to fix in my mind the image of at least an "A" class setup.
Ignore the trend line, it is just there for next week.
We have been in a clear uptrend as we can see from the daily chart, although I am not so sure as to how we should be looking at the highs and lows on H4 or if indeed, when looking at such a PB on H4 if we should be looking at the peak and valleys of the D1 or strictly keeping...
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The location looks good, but I would like the size to be bigger. Showing rejection off the 85.00. (Chart 1)
Because you know what will happen . . You'll have this not-so-great PB like we have here and then Price will make a tradable PB (Chart 2) and we will be like, "Man . . . I should have waited until the that bigger sucker presented itself instead of that little one."
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Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, May 16, 2010 8:15am
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May 16, 2010 12:26am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Thanks for the explanation Jarroo.
Yes, the PB you drew looks like a better PB. LoL
So, if I understand you correctly, you would have passed on that PB, or take it with tight SL?
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Yes, above the 84.00 or less, meaning if it didn't behave properly I may just cut it even quicker. But it did break hard and respected or retested the break nicely. Again if I would have decided to take it despite its size.
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Indicators show the past. Price Action "Indicates" the future.
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May 16, 2010 8:18am
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J16 Senior Member cczar
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Quote:
Originally Posted by ghous
Just to add to what the other guys have mentioned...
Gu presented a wonderful opportunity (in the light of the system) this Thursday,
Fxpro gave off an adorable BEOB off the 21 ema (or the middle line of the BB) with the trend while IBFX gave off a PIN BAR off the same location.
As jarroo mentioned different open/close times for bars among diff brokers only ends up chopping price a bit differently that's all. This means that at times you'll get situations like the one shown below in my charts (pa setups on both brokers) and at...
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"in the light of the system" . . wow . . I'm going to have to take a closer look at this, g. Sounds like its becoming very spiritual. lol.
Just kidding, g. Great example.
Jim
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May 16, 2010 10:43pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Dan Gilbert
If tonight is any indication as to how the rest of this week is going to be 
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Not good your buyers. But for sellers . . 
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Indicators show the past. Price Action "Indicates" the future.
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May 16, 2010 11:18pm
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J16 Senior Member cczar
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Quote:
Originally Posted by KissFan
Gimmie some Dow 10200ish and I'll be buying me a ho buncha them thar Japanese Yenny doo dads.
K.I.S.S. 
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What do you like about the 10200ish, Roger? Good S/R?
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Indicators show the past. Price Action "Indicates" the future.
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May 17, 2010 5:41pm
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J16 Senior Member cczar
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Quote:
Originally Posted by KissFan
Sorry for the delay in getting back with you Jim. I like the space (room to run) in between 10173 and 9779. I also believe that the low of 02.05.2010 will be revisited if we breach 10173 again. So maybe 10700-10800 then down from there to 9700-9800. I'll be buying greenbacks when we get back to 10173.
K.I.S.S. 
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Ahhh . . .I see. Thanks Rog.
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May 17, 2010 5:49pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Jarroo
I have been thinking about your comment about PA behaving properly. could you explain a little more what "Behaving properly" means in terms of a PB or other PA.
All kinds of things have been going through my head about this over the weekend and I am wondering if you are breaking down the bar into a smaller TF and also looking at how PA acted in that TF?
Maybe my mind is just over active.
GBP/JPY BEOB H4.
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This is where I believe a lot a traders get into trouble. There's a setup on a given time frame and they immediately go down to the lower time frames to look for reasons to exit or continue with the trade.
When I look at how Prce is behaving, after a setup breaks, I look for how Price respects and tests (thanks sChoas) at the FTAs and Targets on a lower time frame. I usually don't looking at PA on these lower time frames once I have a setup triggered on the higher time because these lower time frame PA can be very misleading.
I like to stay on the time frames that the setup was presented, using the same time frame FTAs and Targets. Then I see how Price "behaves" around these levels on a lower time frame.
Am I making any kind of sense?
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Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, May 17, 2010 6:26pm
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May 17, 2010 5:53pm
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J16 Senior Member cczar
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Quote:
Originally Posted by james16
thanks.
took a short break.
going fine.
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Who was that masked man?
Oh Yeah . . the big guy.
Glad things are going good. 
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Indicators show the past. Price Action "Indicates" the future.
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May 17, 2010 6:17pm
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J16 Senior Member cczar
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Quote:
Originally Posted by emiliolopez
Hi i read more than i post but i would like to coment in this one. Would be nice that p/a closed this way but there is still plenty time to go, and even more for the weekly, anyway i drawed some posible t/a's. Right now price is at a minor support in 1h t/f
Attachment 475863
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I like the Daily bearish PB, emil. I understand Dan's point of the uptrend being strong. But the target, 1.1250, is far enough to protect yourself.
Forget the Hourly PPZ level. The weekly PPZ level at 1.1265 maybe a trouble area.
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Last edited by jarroo, May 17, 2010 6:43pm
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May 17, 2010 6:46pm
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J16 Senior Member cczar
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Quote:
Originally Posted by cvcamper
Isnt the Daily GBP/JPY an AMAZING PIN BAR!?!?!?! Off weekly support also
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I think its got a good shot to the 135.00.
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May 17, 2010 7:01pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Dan Gilbert
jarroo!!!
edit: ok, you added the info 
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If it breaks, of course. 
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May 17, 2010 7:25pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jedlanca
Hi!
As I understand, you will enter only if price breaks the top of the daily pin bar in GBPJPY, with the target @ 135.00. If this is right, where would you put your StopLoss?
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There is many options for a tight stop placement. Below the 134.00 or 133.80, so having 2% in a 90 pip stop loss is one option. Below the left eye is another one. But I would have every intend to cut it quicker if it does not break hard or continuous, etc.
You could go at below the PB itself, is not a bad setups just don't know if it big enough to counter the strong down moves we have had.
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May 17, 2010 11:43pm
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J16 Senior Member cczar
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Quote:
Originally Posted by emiliolopez
i see
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You may see Price react at a level and when you go investigate the reasons why you go down to the Hourly and say, "it must have been this Hourly PPZ". But the real reason was a Weekly High 5 weeks ago.
Nice charts BTW. 
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May 18, 2010 12:05am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Thanks Jarroo
Your comments are clearly understood on this point.
Yes, I can see how too much switching to lower TF can confuse the situation. People were talking about the D1 Bullish PB that just formed on GBP/USD and some were looking at H4 and commenting on how the H4 PA was showing Bearish signals. I think Mike also commented on how TF switching can cause Analysis Paralysis.
Also, thanks for Really helping me out with the PPZ, I feel reasonably comfortable with drawing them now. Whereas previously, I was like, 'Hey, is this line really going...
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Sure thing PB.
Now don't get me wrong, if a 4 hour BUOB presented itself shortly after this bullish PB I would look to enter at this PA. This does happen at times and compliments the higher time frame PA. But the 4 hour PA setup should stand on its own.
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Last edited by jarroo, May 18, 2010 12:15am
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May 18, 2010 12:09am
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J16 Senior Member cczar
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Quote:
Originally Posted by mbqb11
I always tell this story but it's funny and true. The first thing I ever did in trading was use horizontal lines. We(my father myself and his friend) bought when price would cross them in a manner that looked visually correct. Over the course of a few years I complicated things, as I think we do as humans. Slowly I reverted back to a few lines on my chart 
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Where do you think I learned this stuff.  Mike's the man.
And James16, of course . . and Bundy . .and Rac . . and a few others . .
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May 18, 2010 12:32am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
I am looking at the GBP/USD PB as I have been from yesterday.
The areas at the arrows, just 26 pips after the break of the Daily PB concern me a little.
Also, the size of the weekly Bearish PA compared to this PB is not gratifying.
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Yeah you got too many line going there, PB.
Here's what I'm looking at on the Gbp/Usd.
The 1.4500 is the main focus right now (I believe). It was acting as Support (in green), Price has now broke through that support. Will it now act as Resistance? We shall see.
But Price tends to do just that, after breaking a major Support level. (turn into Res). Price could be in the process, right now in front of our eyes, of building a new PPZ level at the 1.4500.
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May 18, 2010 12:49am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
I am looking at the GBP/USD PB as I have been from yesterday.
The areas at the arrows, just 26 pips after the break of the Daily PB concern me a little.
Also, the size of the weekly Bearish PA compared to this PB is not gratifying.
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Oh your other concern . . the arrows . . . if Price breaks that PB will that level ( arrows) come into play. Since there is much Space and time between them to the current Price there won't be a major factor as if they were right next to each other. The beauty of Space. Will Price find a reason to continue its down trend and use that level . . .absolutely.
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May 18, 2010 1:13am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Jarroo, your posts never fail to show me how little I know and simultaneously, present me the delight of how much there is to learn. 
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Just keep it simple, as KissFan says. Try not to make it more difficult then it really is. It you find that its getting complicated . . its time for a James16 chart review and go study all of them.
Keeping it simple is the way to go . . . because I'll tell you a little secret . .
. . and I know Mike knows this too . . .
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. its the only thing that works. 
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May 18, 2010 1:25am
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J16 Senior Member cczar
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Look at Price just testing that left eye ball and Daily Low. Unreal . . but no surprise.
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May 18, 2010 10:16am
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J16 Senior Member cczar
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Quote:
Originally Posted by ertorque
IB4 forming on the 4Hrs. Hope a break up will provide it with momentum to hit 1.35
CY
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Should wait until the bar closes. PA is not PA until they close.
That Daily PB has already hit its target in my book. Could it still hit the 135.00 and 136.00? Sure, but not with my skin in the game.
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May 18, 2010 10:26am
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J16 Senior Member cczar
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Quote:
Originally Posted by extraneo
could be considered a break in the downward...
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Sure, then it would be a Double Inside Bar and break downward would be with the trend . . Yes I would favor that more. But we gotta wait until it closes first.
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May 18, 2010 10:32am
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
I like the Daily bearish PB, emil. I understand Dan's point of the uptrend being strong. But the target, 1.1250, is far enough to protect yourself.
Forget the Hourly PPZ level. The weekly PPZ level at 1.1265 maybe a trouble area.
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Weekly PPZ levels Rule.
What does this tell me . . the Swissy is icthing to go higher.
A break even trade for me.
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May 18, 2010 10:50am
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J16 Senior Member cczar
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Quote:
Originally Posted by supremeChaos
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Thanks for the heads up, sChaos. 
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May 18, 2010 7:18pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Jarroo
Can you explain why it tells you it wants to go higher.
I see the weekly Bearish PB being short and well above the PPZ but isn't the daily PPZ not the same PA level?
I mean, the W1 PPZ is at 1.13000 but the daily chart shows 1.1264 something.
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Do not look at the current weekly bar for any confirmation or indication of any PA formation. The current weekly bar is still forming. You can look at the weekly bars that have closed, which the last two weeks were some big Bullish bars.
I agree with you Pb, that the 1.1300 is a strong Weekly and Daily PP Z level. But as you know, these PPZ levels are Zones or areas of which Prices acted as Support and Resistance. The 1.1265 fell into that zone. I pointed it out because it was such a clear level on the Weekly (in blue).
"why it tells you it wants to go higher" . . you mean besides the fact that it was a small Daily PB going against a very strong up move and that it broke and behaved like a little girl. Well, I saw that the PB (as small as it was) did fillfulled itself at its bare minimum. Once that happened, I saw more movement upwards. Its something I been working on called the "Fullfillment of Price". Still developing. . .
Jim
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May 18, 2010 7:34pm
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J16 Senior Member cczar
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Quote:
Originally Posted by mbqb11
and to add what I said.
http://www.forexfactory.com/showpost...ostcount=64020
All these bars did as much as we can expect trading into their areas.
I marked all the charts for you.
Gbp/usd never broke the high = not a valid bar + trading right into 1.4500 your buy stop should go above this area. If it did break the high on your broke no bar was able close above that round number.
usd/jpy - not a pinbar as the nose was not lower and clearly lower then the previous bar , this should be an easy pass.
eur/usd = very...
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Awesome post Mike. I can see this post being referenced often.
Great job as always.
Jim
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May 18, 2010 8:19pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Sjr
Hi Everyone. Just thought Id say hello. Ive been lurking in the background for some time, but now feel ready to start asking questions re. techniques shown here on price action etc. I have opened a Demo 5k acct, and had some "luck" so far on the 3 trades using the techniques shown on this forum. Thanks.
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Welcome Sjr.
Care to share one or all of those trades?  There may have been no luck at all involved.
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May 18, 2010 11:55pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Sjr
Sure just as soon as I learn how to post a chart. BTW, I'm using gecko track and trade Forex, only because my research took me there. It appears everyone else is using other platforms. Not sure if its a good thing or not ...yet.
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Thanks cool Sjr. I don't even know how many posts you have to have to posts charts.
Check out many Plats and see what you like. MT4 seems to be the favorite.
You can write out the trade ( pair, time frame, date) . . . if you like.
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May 19, 2010 12:00am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Nice explanation Jarroo, I think I see the basics of your analysis.
On a more basic level, I can see that the open or left eye of that D PB is way outside the close of the previous bar by 15 pips or so and also that there was a lot of traffic from Jan of 2009, March & May and the break of the PB stopped right around that level.
I have to really take your KISS advice and stop my perhaps over analysis, possibly it is putting me on the verge of A-Paralysis.
Yes, I am feeling that I am sort of falling into that trap and really need to ground myself....
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Viewing a James16 and Mike video does the trick for me.
Have you veiwed many of James16 charts from the thread lately?
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Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, May 19, 2010 9:28am
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May 19, 2010 12:13am
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J16 Senior Member cczar
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Quote:
Originally Posted by james16
yes he is and a Texan to boot.

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Jim-bo, what goin on, brother.
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May 19, 2010 12:54am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Yes, I have viewed all the videos in the guest area.
I must say, Jim makes it look real easy, then I come back to my charts and start putting PPZ on them and end up with a birdcage.
I noticed that Jim is making pretty good almost spot on analysis of where price may stop by using nearby bar highs and lows without really drawing PPZ.
Maybe this is something to start trying out on demo for a while.
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Absolutely Pb, try it out on demo. Also, view the videos many times.
I thought we got rid of the birdcage.
Keep going Pb. Beliveve it or not, you're doing great. 
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May 19, 2010 1:07am
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J16 Senior Member cczar
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Quote:
Originally Posted by Dan Gilbert
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I almost forgot about that one Dan.
That's a good approach. 
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May 19, 2010 9:04am
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J16 Senior Member cczar
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Quote:
Originally Posted by kdee1
Hi jaroo, Mike and other, i placed a buy on GU when i saw that pin bar yesterday, but the game went against me. pls what did i do wrongly, the nose was long enough and close within the last bar,is there any other thing i suppose to see or take note of that i fail to note. pls teach me.
kdee
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Not sure which broker you are using but the IBFX feed seems to be the only one that the PB's Open and Close to be within the previous bar on the GU Daily PB from Monday and the only one that broke. Still the other broker PBs had a left eye by proxy that made them somewhat legitimate but they never broke. We always wait for the break.
So looking at the IBFX's PB, the size was just too small to counter the big downtrend that we are in. Look at the PB in blue, which is much bigger than Monday's, it was able to reach it 1st target but not able to reverse the trend.
The structure was not correct. On bullish PBs, we want the Close higher than the Open. On bearish PBs, we want the Close lower than the Open.
The 1.4500 is a Big Round Number and acted as a strong PPZ level a year ago. If the Close of that PB was Higher than the Open and above the 1.4500, it had a better chance then most to have at least reach a resonable 1st target.
I understand your take on this PB, it seem to fit the criteria of a good setup. But when we are looking for setup to reverse such a strong trend or at least give a nice move to a reasonable target these things matter more then ever when deciding to take a setup. Its about being very picky.
Don't know if you saw this post from Mike but its a good one.
http://www.forexfactory.com/showpost...ostcount=64120
He has many more like this one throughout the Thread. Check'em out.
Jim
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May 19, 2010 9:08am
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J16 Senior Member cczar
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Quote:
Originally Posted by Rahman
I'm currently on page 58 (!) of this thread, with an honest intention to read through the dang thing, no matter how long it'll take (and it will!!!).
Anyway, just wanted to ask if any of u are/were members of J16G PF, and if it's still active? Hope it is...
Thanks
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Yes, the PF is very much active. I am life time member.
Welcome to the Thread, btw. 
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May 19, 2010 9:41am
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J16 Senior Member cczar
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Quote:
Originally Posted by Daneel
Dailies are killing me.
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Some great responses to your post Daneel.
Can you post a chart or say which Daily setups you were talking about?
Jim
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May 19, 2010 6:00pm
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J16 Senior Member cczar
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Quote:
Originally Posted by fxprocessor
One last perspective.
A bit of room before next TL hit. My target is also a clear point on the daily chart.
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Looking at those previous Lows, may free trade it if it hits.
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May 19, 2010 6:02pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Atc
I am not so sure Mike would say this has alot of space....Mike could we have your opinion?
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Mike is an easy pass on this one. I'm trading it very tight. Not a full position.
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May 19, 2010 6:06pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Atc
 Thanks Big Jarroo ---forever learning
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I do like the double bottom, off the 130, but your right, not alot of space and very small PB. Not what we look for when searching for A+ trades.
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May 19, 2010 6:09pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Atc
 Thanks Big Jarroo ---forever learning
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These bar Lows (in blue) are holding it down.
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May 19, 2010 6:22pm
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J16 Senior Member cczar
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Quote:
Originally Posted by fxprocessor
GBPJPY daily pin has formed at the 1.30 VBRN. The pin is not huge but I quite like the double bottom,
A head and shoulders has also just broken to the upside and I have taken this early entry with stop below the right shoulder.
As I am posting this price had dropped 20 pips or so but I think there is a very good chance there could be a break of the pin and a decent little run up from here. If not.... I lose this time and wait for the next trade
cheers
fxp
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Price testing your HnS break. It may want to test the 132.00 as well.
Sorry if I'm hogging your post fxp. 
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May 19, 2010 6:28pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Mauzzz
May I ask where where you placed your stop on this trade? And how are you going to manage it since it triggered and went the other way right away?
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Just below the 132.00 (131.80). Its a very small position. Should be fun to watch Price and see how it behaves in this type of setup. 
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May 19, 2010 6:46pm
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J16 Senior Member cczar
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Quote:
Originally Posted by mbqb11
boom, if it was a bigger nose through the last low it then becomes an easy trade! The little things for me.
Thanks Jim
Mike
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Awww . . come on Mike! . .this baby going to the moon . . you gotta get on board . . . . oh wait . . . am I stoppped out yet.
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May 19, 2010 6:47pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Mauzzz
And that 132.00 is being tested right now. Let's hope it holds 
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Its looking like it didn't study before the test.
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May 19, 2010 6:50pm
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J16 Senior Member cczar
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Quote:
Originally Posted by mbqb11
notice it hit that low basically too the pip. Must be a large resting order(as well as additional piled up there). So you could see a nice move. I would looove to blow out that low and then reject hard. 
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Just messing with you brother . . .lol
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May 19, 2010 6:53pm
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J16 Senior Member cczar
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Quote:
Originally Posted by six gun
PB and Double Bottom Trading Plan.
I am new to this but what I have noticed at this time of day the traders just love their fib retracements.
Like with some pairs it is clockwork to the pip, sometimes over 100's of pips.
On my GMT+1 price came up from a low of 130.31 up to 132.79.
This is a 127.0% fib exactly to the pip.
Price then headed down and it is heading down at some speed on the H1 chart.
They don't care for pin bars or double bottoms - they love their fibs and they seem to be acting on them.
So expect price to come down to 131.54 and...
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You got a chart on that six gun?
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May 19, 2010 7:04pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Mauzzz
Yeah, seems like we're going to get stopped out soon. That would be my third loss this month. The tight S/L approach doesn't seem to be working well for me these days. 
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They work better on better setups. This was not the ideal A+ setup, you can agree with that right?
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May 19, 2010 7:11pm
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J16 Senior Member cczar
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Quote:
Originally Posted by six gun
Its turning - ???saved by the bell.
On my chart it went green 4 pips off the 38.2 - its safe now they have visited their fib level and it is lift off time.
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Trying to figure out where your Highs/Lows are located for your fibs.
Daily High/Low?
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May 19, 2010 7:12pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Mauzzz
Yeah, seems like we're going to get stopped out soon. That would be my third loss this month. The tight S/L approach doesn't seem to be working well for me these days. 
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It missed my stop by 4 pips.
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May 19, 2010 7:18pm
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J16 Senior Member cczar
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Quote:
Originally Posted by mbqb11
yeah was going to post this. This is IMO the only way to draw a current fib right now in terms of swing points.
I also marked what I believe is holding it up for now
Mike
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Yeah I understand that fib placement but I think six gun draws them differently . .oh wait . . . there's his post.
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May 19, 2010 7:26pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Mauzzz
I just don't seem to be able to tell the difference between an A+ setup and worse setup yet. But you're right - I guess I can see a few things goings against this trade. (Fighting the trend, traffic nearby?)
I went through USD/JPY daily chart data from 2001 till 2003 taking most of the price action bars at a decent location with tight management. Placing stops behind pin's eyes, BRN's, PPZs, moving S/L to B/E after 30 pips and taking profit at FTA, I only had one loss in 15 trades.
In the last few days, I took two losses and the only winning...
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Which ones were the losses?
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May 19, 2010 7:30pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Mauzzz
Would you, perhaps, mind posting a chart or two of some trades you took that you considered A+? Thanks! 
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Let me find the charts.
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Indicators show the past. Price Action "Indicates" the future.
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May 19, 2010 7:38pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Mauzzz
Monday's USD/CHF daily pin. And daily BEOB on 13th may on CHF/JPY (got quite unlucky on that one as price triggered my entry by TWO pips, reversed to take my stop out and then finally shot down to reach my targets)
And now the GBP/JPY is not looking good either!
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This Gbp/Jpy and the Usd/Chf are not A+ trades due to there lack of size. Countertrend trades need to be much bigger and bolder. The Chf/Jpy had some good quailies but since it was in consoldation it was a easy pass to a picky trader, even though it worked out.
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May 19, 2010 7:41pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
Let me find the charts.
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I can't find the May 13 Cad PB but that as you know it worked out well.
what made the 4 hour Gpb/Jpy an A+ was that it was a break out pattern setup.
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May 19, 2010 8:02pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
I can't find the May 13 Cad PB but that as you know it worked out well.
what made the 4 hour Gpb/Jpy an A+ was that it was a break out pattern setup.
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Also this Cad 4 Hour Double Inside bar I would place as A+ in my book because of its location.
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Indicators show the past. Price Action "Indicates" the future.
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May 19, 2010 8:07pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Mauzzz
Thanks for the examples. I see there's still a lot I need to learn. I just need to stop thinking that being in the red after two weeks of demoing is my personal failure of some sort.
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Do not take it as a personal failure please . . just the opposite. You are unware of the experience you are learning right now. Believe me, its in that head of yours.
You're demoing this stuff is grrreat. Guess when a trader has most of his losses? you guess it . .its in the beginning so they might as well be demo dollars. lol
Your doing great Mau . .you just don't know it yet.
Jim
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May 19, 2010 8:16pm
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J16 Senior Member cczar
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Quote:
Originally Posted by woleadu
Mike,
thanks. it worked for the horizontal lines, but not the vertical lines. Please may I ask what program you are using to draw those green and blue lines on your chart. Also this question go to Jarroo. I will appreciate your help
Thanks
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They are just part of the MT4 tools that come with the Plat.
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 19, 2010 8:26pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Daneel
Someone posted, in this thread I think, recently, talking about how to draw in SR using the zigzag tool with particular settings. I can't seem to find it now, can anyone help me out?
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Here you go:
http://www.forexfactory.com/showpost...ostcount=61058
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 19, 2010 8:34pm
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J16 Senior Member cczar
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Quote:
Originally Posted by six gun
This has probably been discussed before, being used to looking for multiple inside bars I am a little astounded when a single bar is identified as A+
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The first thing I thought of was the Nov. 2007 Weekly Cad PB.
The A+ of A+. 
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Indicators show the past. Price Action "Indicates" the future.
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May 19, 2010 8:41pm
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J16 Senior Member cczar
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Quote:
Originally Posted by six gun
The beauty of that PB is it stands out - It stands out across the room in a snow storm with the lights out - the kids in nursery will see it.
Every trader would knows anything about PB's or long wick patterns or what have you, will all say there is my baby and pounce on it.
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Yes . . That is one of the qualities of what an A+ setup is all about.
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Indicators show the past. Price Action "Indicates" the future.
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May 19, 2010 9:03pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Mauzzz
Thanks, Jim. I'm treating my demo dollars as if they were real dollars so I have been experiencing all the emotions associated with trading. It's insane how one losing trade can make me sick for a week.
I hope to be as good of a trader as you are one day. Tell me, how long have you been trading and how long did it take to learn enough to at least not be losing money? (Even being a breakeven trader seems like an unreachable goal to me right now, lol).
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I have been trading for a few years then I found this thread. Then I ignore this thread . .loss money . . and then came back to it and got serious.
Demo . . .demo . . . demo . . . Ah-ha . . . demo . . demo . . . Ah-Ha . .demo . .etc.
It took a few years, I had to get rid of some bad habits and started making good habits.
It just takes time. You'll get there. You're in the right place and you're doing the right things.
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 19, 2010 9:16pm
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J16 Senior Member cczar
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Quote:
Originally Posted by mbqb11
hahah Jim and do you remember the size of the thread back then when it was "too big" for us :P
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I think that was one of the reasons why I ignored or left it . "I'm not reading all 300 pages . . .no way". lol
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May 20, 2010 1:24am
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J16 Senior Member cczar
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Quote:
Originally Posted by Dan Gilbert
GJ is my favorite, once again, these bullish yen cross pins just aren't aligning with what is happening in the overall markets right now (or I guess you could say TREND  )
I will say though, today's pin is at least 6x better than the one on G/J a couple days ago lol... that one was UGLY. now we have a double bottom, 130 BRN, a little bit of room up to 135.00, really not an all bad piece of PA today. I may take it, depending on how it snaps over the 61.8 fib that is finding as resistance currently... need that HARD BREAK, right jarroo?
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Absolutely. The hard break sure makes them easier to manage.
I feel your initial impression .. pass . . good but not good enough, I agree.
Waiting closer to london wouldn't hurt either, even if it does break during asian hours.
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May 20, 2010 1:47am
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J16 Senior Member cczar
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Double Inside bar on the 4 hour Gbp/Chf. Heading back to the 1.65 . .if we can get pass this bump in the road. Free trade at the 1st target in green ( the bump in the road).
__________________
Indicators show the past. Price Action "Indicates" the future.
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May 20, 2010 2:05am
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J16 Senior Member cczar
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Hey jeurre have you been following the #CLM? 
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Indicators show the past. Price Action "Indicates" the future.
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May 20, 2010 2:17am
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J16 Senior Member cczar
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Quote:
Originally Posted by jeurre
jarroo, I had been following it, but, changed mind when it reached 70.
I am looking at these two now
Gold & GBPCHF
GBPCHF seems having a little trouble, let's wait to see how it develops.
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I like the 1.65 because it lines up nicely with the 50% ret level, could be due for a ret after such a strong move upward. My risk is covered (free trade) so I'm not worried about it.
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Indicators show the past. Price Action "Indicates" the future.
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May 20, 2010 10:10am
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J16 Senior Member cczar
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Quote:
Originally Posted by jeurre
I killed GBPCHF with a slight pip profit, simply don't like the way it retraces. Rule #1, preservation of capital
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Mine was to perserve capital as well. I just perserved it alot sooner.
34 pips on the 1st half, 75 pips on the 2nd half. I could have held on to it longer but that wasn't my plan. (2nd target was 1.6507, I always low ball my tragets.)
Its a great way to trade.
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May 20, 2010 10:28am
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J16 Senior Member cczar
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Quote:
Originally Posted by skinfx
Hi Jim, Do we consider the 4hr gbpjpy PB at swing high?
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The 4 Hour gbpjpy is actually a BEOB that looks like a PB ( my favorite kind of outside bar  ). No, it's not at a swing High. Its more of a continuation setup with a wedge breakout kicker.
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Indicators show the past. Price Action "Indicates" the future.
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May 20, 2010 10:39am
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J16 Senior Member cczar
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Quote:
Originally Posted by jeurre
hi, jarroo, brother, how are you today ! thanks for letting me think the same way as you are 
Edit: I meant capital preservation
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A lot of traders think that way . . well, at least the good ones do. The free trade approach is a great way of doing just that. Not sure why more traders don't apply it  but maybe they do. 
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Indicators show the past. Price Action "Indicates" the future.
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May 20, 2010 10:49am
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J16 Senior Member cczar
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Quote:
Originally Posted by supremeChaos
one of those that i call 'hybrids'
so u like hybrids too huh 
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Yeah lol. The Eur/Aud July 13th 2009 Daily BEOB (PB looking) comes to mind. 
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May 20, 2010 10:50am
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J16 Senior Member cczar
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Quote:
Originally Posted by emiliolopez
im still reading yesterdays posts, i was busy, meanwhile id like to share this:
many pips
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PA Rules!
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May 20, 2010 10:56am
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
Yeah lol. The Eur/Aud July 13th 2009 Daily BEOB (PB looking) comes to mind. 
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Hey Mauzzz. Here's another example of an A++ setup. 
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May 20, 2010 11:05am
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J16 Senior Member cczar
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Quote:
Originally Posted by aserbfx
just a question:
the lower trendline was violated by two wicks. is it still valid then?
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To an engineer . . . yes . . . in would be invalid. Sorry no offence.
Trendlines can be very subjective. I may have taken trader's descretion on the validity of the trendline. The breaking of the wedge pattern gave additional confluence to the BEOB when it broke.
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May 21, 2010 12:24am
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J16 Senior Member cczar
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Quote:
Originally Posted by skinfx
Hi jim, may i know wat setup you look for on this trade u took. Izzit the PB? Cos i am thinking the left eye is too near to the nose, so not sure if it is still a vaild pin.
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Sorry I forgot to mention the formation, it was from my ealier posts. Its a Double Inside Bar, darn close to a Triple Inside Bar.
Quote:
Originally Posted by jarroo
Double Inside bar on the 4 hour Gbp/Chf. Heading back to the 1.65 . .if we can get pass this bump in the road. Free trade at the 1st target in green ( the bump in the road).
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Quote:
Originally Posted by jarroo
I like the 1.65 because it lines up nicely with the 50% ret level, could be due for a ret after such a strong move upward. My risk is covered (free trade) so I'm not worried about it.
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Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, May 21, 2010 12:52am
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May 21, 2010 12:42am
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J16 Senior Member cczar
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Quote:
Originally Posted by Mauzzz
Thanks for the example, Jim. The GBP/JPY trade didn't work out. 
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Cheer up buddy.  They may not of worked out pip-wise but they did work out on the experience you gained from them. Which I can tell you is worth 10,000 pips!
So the next time you see a strong move over a course of a few days and a relative small size PB is presented, you'll know what to do. Pass. . . its that simple. Even if it works out and goes to the moon.
But it you do decide to trade it, you'll know that weight of the move is going against you. That a tight and/or small stop loss, a move to break even quickly or quick target then I'm out, etc., . . it a good option to take.
But the picky traders know what to do right away because they know better setups are right around the corner . . "easy pass for me".
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Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, May 21, 2010 1:01am
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May 21, 2010 12:50am
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J16 Senior Member cczar
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Quote:
Originally Posted by Bemac
Not a perfect PB by any means but interesting enough for me.
EURAUD Daily
PPZ goes back... waaaayyy back 1999
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Yeah I saw that move up. it wiped out . . what . . 13 weeks of a down move. That would have been one hella of touch trade.
Looks good B.
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May 21, 2010 12:58am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Phew......Got my head back on in a semi straight direction after Once Again, Chasing the illusive PPZ indicator.
I don't know what is going on, maybe lack of confidence in my PPZ even though Jarroo and others have been incredibly supportive and encouraging.
More than likely, it is a lack of confidence in myself which I could possibly be making a subconscious excuse that the problem is my PPZ, then I run off all over the web looking for the holy grail indicator, even though I know full well, PPZ can not be drawn effectively by an indicator because...
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Keep that live account on hold for awhile, Pb. Just some freindly advise my friend. What's your hurry? Market isn't going anywhere.
We can work on some more PPZ levels if you like.
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May 21, 2010 1:18am
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J16 Senior Member cczar
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Quote:
Originally Posted by Dan Gilbert
too bad anyone trying to touch trade long on euraud would have had 13 weeks of PAIN before this past week 
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I'm sure there was some bottom pickers in that year long drop.
But they finally decided to eat the loss last week. lol
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May 21, 2010 1:55am
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J16 Senior Member cczar
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Quote:
Originally Posted by fxprocessor
Well that didn't quite go to plan
I have actually been reasonably successfull recently so typical that a trade I post on the thread goes t**s up. Anyway back to waiting mode as Bundy would say 
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Oh well it didn't pan out. I thought it was a good learning experience for many.
Just check out the difference between the Gbp/Jpy PBs and the current 2 Day PB on the Euro. Actually, they're not at all that different even down to the HnS patterns on the lower time frames. Both were small compared to the down move they had to counter with limited confluences if any.
The only key (big) difference was how the broke and how they behaved once they broke.
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May 21, 2010 3:40am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Yes, I think you are right Jarroo.
There is no rush.
Yes, if you don't mind, I can do with all the practice I can get.
Bring it on, JaRRooooooooooooooooooooooooooooooo ooooo.
PS: Maybe, I should just try to pick out the flip areas.
I noticed you and others do this exceedingly well.
To me it seems difficult because even though I have invested thousand hours of chart time, somehow my eye is attuned to the noise more than the bars that should be screaming out to me.
Ok, please stipulate a pair or pairs and I will get my sleeves...
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Wow, that's alot of ooos. lol
Here's one for you. . .Gbp/Usd.
Sorry I must have missed that post on HnS.
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May 21, 2010 3:59am
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
Wow, that's alot of ooos. lol
Here's one for you. . .Gbp/Usd.
Sorry I must have missed that post on HnS.
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And this one too, Pb. Nzd/Jpy
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