Hi SuperMatt, 2 things come to my mind: 1. Determine the reason for this trade. 2. See where the price might stop. There is nothing wrong with this one. However, you will come up with resistance pretty soon so B/E asap may be a good choice here. Ken

james16 Chart Thread

EUR/CAD weekly chart. It looks as if the price has formed the apparent "Head and Shoulder" pattern. The neck line is around 1.5400. Watch PA around 1.5400.

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You are right, absolutely! If we can manage to get a third PIN, that will be super :-) BTW, I don't have too much confidence trading counter trend. I would rather wait for the trendy one :-)

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E/G — Daily E/G chart. A daily PIN on the top. Price got rejected at 0.94. Last time it was rejected at 0.93 and went on. Divergence on the MACD histogram. It ran too far and too fast from the long term EMA's. Retracement is overdue. It would ...

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Yup, big round number is important. Bears may choose to take partial profit here, thus the run up. It looks like the upside movement has run out of the steam. Both downtrend line and EMA(60) seems a good barrier. We may see one more try on the PPZ. ...

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GJ 4H. Price tries to move higher. Can it break the EMA(60) and trend line? Price action will give us clue.

james16 Chart Thread

Daily GJ. Long tails from the weekly pivot zone indicates strong rejection. However, a down trend line is hang over the top. Price is making a wedge here. If the price can break above the trend line, we will see upside movement. If price breaks the ...

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Hi Jarroo! For the GJ, let's start with this weekly one!

james16 Chart Thread

USDCAD — Hi Strat! I have been studying your method and here is a setup I think is good. We have had a hammer on the weekly around the Major resistance turned support. And then, on the daily, we have a BUOB on the minor S/R. I think we could ...

Strat's Long Term Stress Free Trading

Hi Jaroo. You trade much better than me. I am just too conservative :-) That fib combination is excellent! Ken PS: see my GJ chart. JPY crosses may have more upside potential.

james16 Chart Thread

This is not totally James16, but after the three white knights formation off the weekly PPZ, now we see anther rising three method on the GJ daily chart. All this tells me that we may have more upside potential for GJ here. I will be looking for ...

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UJ — We had a UJ pin around 94 area. I choose to pass for the following reason: We have a divergence on the price and MACD histogram, which implies that there is bullish momentum behind the UJ price for now; and There is a much stronger PPZ ...

james16 Chart Thread

GBP daily is bearish — On GBP/USD daily chart, the last 3 bar formed a so called evening star formation. It's happening around EMA(365) area. I think the test on the rising trend line is completed. We may see it heading lower from here. Notice ...

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There is a hanging man (Ghous' IPB) formation on the daily NZD/USD. Notice that it's right below the rising trendline. It feels bearish. Short from 4HR inside bar on the top PPZ. Ken

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For a good illustration of the hanging man pattern, check the weekly USD/CHF around 1.22 area where there are two hanging man candles before a BEOB and then the huge drop. IPB or hanging man on the top usually means the exhaustion. Clockwork71 has ...

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Hi Ghous, Is this the hanging man pattern in Japanese Candlestick chart? Ken

james16 Chart Thread

Hi T.E., Welcome to the thread. Due to my work schedule, I don't come here often, however, I have been following this thread for about 3+ years by now and I am also a permanent member of the James16 PF. Trading is like any other discipline, it takes ...

james16 Chart Thread

USDCAD 4HR PIN — A 4HR pin is spotted on the PPZ for USD/CAD. I have a buy stop in place.

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If you pay attention to the previous resistance turned support, you would expect that there might not be that much of the room for this PIN trade to develop. I guess this is one of those take profit quick case. On the other hand, last week's bar ...

james16 Chart Thread

GBP short — I am playing aggressive here :-) Well, this is inspired by Mike's latest webinar. First, we have a huge bearish outside bar breaking the top PPZ. Then, the second PPZ provided a weak support and retrace back to the first PPZ. I am ...

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