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james16 Chart Thread
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Mar 18, 2010 8:35am
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J16 Senior Member cczar
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How does this PB look? What do you guys think?
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Mar 18, 2010 8:44am
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J16 Senior Member cczar
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Quote:
Originally Posted by StoragePro
Ain't it the truth. Ain't it the truth.
Funny happened to me today. I went to ParacletesXP in Raeford, NC. Indoor skydiving, with my son of 12 and his buddy Schuyler.
115 MPH wind rushing up throw the floor, and I've NEVER done anything like it, sooooo....
First a 15 minute 'class' on hand signals and positioning.
Standing in the door - chin up, and step in to the breeze.....
30 seconds or so of help from the instructor, bouncing around a little, got stable, and
he let go of me....
OMFG ...
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Freaking cool. !
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Mar 18, 2010 8:48am
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J16 Senior Member cczar
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Quote:
Originally Posted by KissFan
Looks like a good trade once it breaks. More reasons to buy than just the bar too. I have been watching on all my feeds for something concrete on the 1 hr to go long a little early but nutt'n yet.
K.I.S.S. 
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Yeah, I also like that the Daily is making higher Lows.
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Mar 18, 2010 8:57am
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J16 Senior Member cczar
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Quote:
Originally Posted by neutro
Pending buy stop.
EURAUD might give us something nice on its way down to 1.48..
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Anything else?
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Mar 18, 2010 8:59am
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J16 Senior Member cczar
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Quote:
Originally Posted by triger88990
looks more than enough to pull the trigger
all the best!
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There is room for a buffer before the 1st TP but the space could be better. But . . .yes, enough room.
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Mar 18, 2010 9:00am
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J16 Senior Member cczar
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Quote:
Originally Posted by nasir.khan
Your chart is missing a little thing you were telling me about at Gold charts.lol
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P.S i will ADD more to my long from 122.85. 
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Different levels of Fib ret. Check.
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Mar 18, 2010 9:01am
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J16 Senior Member cczar
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Quote:
Originally Posted by Forex007
Two of my data feeds do not show a PB (as discussed last time, good setups tend to be present on most data feeds).
H1 picture does not scream that the price is ready to move up. Plus there are some TLs on D1 and H4. (And it could be another Bear flag on D1).
On that basis, I'd pass.
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I like looking up on the time frames not down for more info, but valid points 007. 
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Mar 18, 2010 9:13am
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J16 Senior Member cczar
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Quote:
Originally Posted by neutro
I'm sleepy? 
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lol
The 123.25ish is a Daily PPZ level which on the 4 hour is at the left eye of the PB so that makes sense. PPZ levels are very important.
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Mar 18, 2010 9:15am
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J16 Senior Member cczar
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Quote:
Originally Posted by Forex007
If you draw a TL on H4, that's what it looks like on D1... 
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Nice, a confluence of higher time frames.
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Mar 18, 2010 9:18am
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J16 Senior Member cczar
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Quote:
Originally Posted by lovejoy80
That 123.00 is a pretty strong PPZ area and price was strongly rejected from the area indicating the bulls are still on control around this area. We have divergence and 50 / 61.8% retracement from recent swing...1st trouble area 124 with those highs just above 125 an obvious TP target area. Dow making new yearly highs too.
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Very nice. I like it. 
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Mar 18, 2010 9:27am
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J16 Senior Member cczar
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Also the plum line shows a PPZ level on the 4 hour chart which we would be heading into after the break. Very good chance this will cause a reaction, be it a stall or reversal. Our 1st target, previous bar Low, is a 4 hour PPZ level but not a Daily PPZ. There sure is a lot near traffic on this one.
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Mar 18, 2010 10:10am
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J16 Senior Member cczar
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Quote:
Originally Posted by StoragePro
jump, jump, jump !!!!
I am sitting on the freaking Tarmac in Atlanta waiting for a damn gate to clear. Every airline sucks friends. 40 minutes so far. The airlines are in serious need of regulation. They cannot handle it themselves.
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I was talking about chart traffic not air traffic.
Oh, lol . . . isn't it a fun way to travel SP, lol. Don't you wish you could just fly.
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Mar 18, 2010 10:15am
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J16 Senior Member cczar
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Nice break but no surprises where it hit and retraced.
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Mar 18, 2010 10:23am
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J16 Senior Member cczar
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Quote:
Originally Posted by ppfx
i see that you have it all planned for the next week 
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lol. Not exactly, that was just random scribbles to where I would like to see Price go, 1.5500.
What is planned, albeit long (mid) term based, is that my stop loss is below the 1.5200 on the 2nd Half.
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Mar 18, 2010 10:26am
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J16 Senior Member cczar
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Quote:
Originally Posted by StoragePro
Peso, anyone? 
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No one will ever let you forget Mike. lol
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Mar 18, 2010 10:41am
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J16 Senior Member cczar
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Possible stop loss placements in black.
Below the bar that breaks.
Below the Daily PPZ, 125.25.
Below the PB.
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Mar 18, 2010 11:27am
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J16 Senior Member cczar
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Quote:
Originally Posted by Forex007
Jarroo, remember that H4 TL I mentioned today?
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Yeah I see. It lines up with that 1st trouble area as well.
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Mar 18, 2010 11:57am
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J16 Senior Member cczar
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Quote:
Originally Posted by lovejoy80
I'm gonna give this some time and room...USD has strengthened quickly across the board (good for my EU short!) but the EJ , GJ etc is holding up ok...JPY is looking weak...a bit wishy washy argument I know! My stop is a few pips below the main PPZ.
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The below PPZ is a good SL placement and this Eur/Jpy 4 hour PB could work out nicely before its low is taken out.
But the main point of this little exercise . . . Is this an A+ setup? No.
The size looks good but could be bigger, off a PPZ level, some fib ret., possible up trend forming from the Daily and so on. But it was it the middle of bad traffic . . no space. The swing low could be lower. This being on the 4 hour time frame we need to meet these high standards even more to really get a strong PA signal.
As we get pickier and picker on our setups these types of setups are passed on 9 times out of 9.
Jim
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Mar 18, 2010 9:20pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinnocchio_S
I entered the break of the huge pin 123.70 (allowing for buffer) but as soon as my price got hit it stalled and I was taken out at my stop loss.
PS how do you guys put arrows and comments into your charts?
Cheers,
Stef
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Sounds like your stop loss was pretty tight. (but not sure) Looks like you managed very well in my book. Although the PB had some good qualities, you know it wasn't the best PA setup, right?
The 4 hour PB is still valid.
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Mar 18, 2010 9:30pm
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J16 Senior Member cczar
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Quote:
Originally Posted by ppfx
Maybe the line chart would say you more.(chart 1) The ppz area was at 123.70 thats why the price stalled there.
And if you look at the daily you'll see that the trend is down. The price hit the 125.00 three times and the last one was a pinbar. The size of that pinbar wasnt so big but the location was good (BRN, PPZ). (chart 2)
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Quote:
Originally Posted by ppfx
You must always look at the higer timeframes and you must remember that the higer timeframe has priority. In this case the daily had priority over h4 ...
I usually use lower timeframes to help me out to enter in a trade 
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Excellent ppfx.
The Daily told a bigger and better story that should have made the 4 hour PB an easier pass.
Nice job. 
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Mar 18, 2010 10:09pm
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J16 Senior Member cczar
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Quote:
Originally Posted by 4X=0
One to watch, IMO
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Not to bad .. the size would need to be a lot bigger to reverse the strong uptrend that we are in.
The traffic is heavy, mainly the RN (1.0400) and PPZ level. Price breaking hard through this level and then retracing with some bearish PA would be something to watch. Also to watch, bullish PA at this level to continue with the up trend.
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Mar 22, 2010 3:13am
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J16 Senior Member cczar
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Quote:
Originally Posted by Dan Gilbert
another good weekly bar to consider...
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Deja vu all over again? Maybe.
Heading into a strong Weekly PPZ level at the 1.0650. Hard and strong break and retrace to that PPZ level looks good, but then again the Jan. PB broke and never looked back. This one looks stronger, although a bit small.
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Mar 22, 2010 3:44am
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J16 Senior Member cczar
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Quote:
Originally Posted by markjuan1
Hi Everyone,
Ok its time for me to share my last year with everyone. I got into Forex about a year ago. One of the first forums I came to was james16. I read the whole forum and started using the methods taught here. In my first 3 months here I turned $75 into $1600. I thought I had found my retirement plan, but then I got cocky. I left the forum and thought to myself, I can do this without following all the rules. What is money management anyway? I don't need a budget for this. HaHa !!! Boy was I ignorant. I lost every bit of it in about a week...
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1st post material, for sure. 
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Mar 23, 2010 1:26am
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J16 Senior Member cczar
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Quote:
Originally Posted by ertorque
I am wondering if any of these potential PB setup is better than the others in terms of confluence strength. All 2 bars are the same relative to each other in each of these 4 setups only the BRN level is different (relative to the bars).
Is there an order we can rank them in terms of quality of setup or are they equally good?
Appreciate any comments.
Thanks.
CY
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I like them all CY.
But I would need more Info. Are they at a swing high or low? How much space do we have here? PPZ levels? Retracement levels? What's the Weekly look like PA wise, assuming these are Daily bars.
PA at BRNs are a good thing but give me more supporting confluences to make my decision easier. 
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Mar 23, 2010 2:08am
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J16 Senior Member cczar
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Quote:
Originally Posted by supremeChaos
Awesome!
...& here's something further back. 
noticed this in early January while tinkering with charts.
let's see what it does in the future.
orange lines are line chart-based.
the first & last pinbars are both March formations.
the middle blue box shows a 2-week PB.
Attachment 444280
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Hey. . . Nice chart sChaos. 
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Mar 23, 2010 3:15am
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J16 Senior Member cczar
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Quote:
Originally Posted by Dan Gilbert
yeah I know that ppz it's heading into, wait for a larger break? make a better buffer....
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Yeah, Price tends to do that at strong PPZ levels. Meaning that we have a PPZ level, then Price breaks through it hard then Price respects it again.
I believe it (Weekly PB in blue) still has potential but I will be manageing it tightly by waiting for the hard break up through the PPZ level then a pull back. Or some solid Bearish PA at the PPZ level wouldn't be bad either.
Jim
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Mar 23, 2010 11:31am
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J16 Senior Member cczar
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Quote:
Originally Posted by ertorque
Hi SChaos,
Glad to hear from you.
Well, if I may ask you, is there a PA setup in Jaroo's chart to initiate a short? I mean one like you said " wait for a PA setup (PB, etc) on/off of that Blue rectangle ppz, to go short." ?
After that massive bearish bar, PPZ did act as support but I do not see any PA to go short since that big bearish bar. The only setup that stands out probably is the PB which signalled a potential price reversal back to PPZ level, am I right?
This has been said many time but I 'll say it again, you guys really are
very...
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I believe you meant to say . . "After that massive bearish bar, PPZ did act as resistance but I do not see . . .
sChoas is right that we want to see strong PA at this level on the Daily or Weekly time frames and arctos gives a great example on the Daily Eur/Gbp:
Quote:
Originally Posted by arctos
I'm not jarroo, but benji recently highlighted this to me on the daily EURGBP chart so I thought I'll go out on a limb here and chip in a little.
The 4 hour chart is from an old post of raczekfx.
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But if you were to venture down to lower time frames I don't know how you would do it without this higher time frame information. Best illustrated by lovejoy80's post with a BEOB on the Hourly:
Quote:
Originally Posted by lovejoy80
half of the table @ 1st trouble area...remainder to BE.
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Last edited by jarroo, Mar 23, 2010 11:45am
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Mar 23, 2010 12:37pm
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J16 Senior Member cczar
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Quote:
Originally Posted by ertorque
Hi SChaos,
Glad to hear from you.
Well, if I may ask you, is there a PA setup in Jaroo's chart to initiate a short? I mean one like you said " wait for a PA setup (PB, etc) on/off of that Blue rectangle ppz, to go short." ?
After that massive bearish bar, PPZ did act as support but I do not see any PA to go short since that big bearish bar. The only setup that stands out probably is the PB which signalled a potential price reversal back to PPZ level, am I right?
This has been said many time but I 'll say it again, you guys really are
very...
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The 4 hour chart had a PB off this 1.0650ish PPZ level (in blue). Besides that it was not at swing high (in the middle) and the obvious traffic it was running into, its working out nicely. But since it didn't meet our criteria of a high quality set up (the PB I have drawn), we let it pass.
Letting the "soso" or weak PA setups pass and then watching them work out is a part of being a picky J16 trader. It tells us that Price Action works and is very tradable. But more importantly we are reassured and rewarded with a higher win rate when the ideal setups are presented.
Jim
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Mar 23, 2010 12:42pm
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J16 Senior Member cczar
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Quote:
Originally Posted by ertorque
Yes you're right. I had meant "resistance". Well spotted!
The message to identify PA at the PPZ level is clear but I am afraid you have not answered my question, Jaroo ( please bear with me!) . In the CHF chart you posted earlier, my question was where is the PA to go short? There isn't one emerging on the PPZ level, is there?
Sorry to be a nagging nuinsance here......
CY
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I guess I was reading your mind CY, by my previous post. lol.
If PA isn't there . . . it isn't there . . .let me know if this is close to answering your question. If not ask again.
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Mar 23, 2010 12:58pm
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J16 Senior Member cczar
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Quote:
Originally Posted by ertorque
Thanks a lot Jaroo for explaning.
It sure did reinforce my belief about being a picky J16 trader.

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Mar 23, 2010 2:18pm
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J16 Senior Member cczar
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Quote:
Originally Posted by relict07
Question
I watched all of James's video from the free part of the PF and it seems that he doesn't like to lose more than 30-50 pips a trade. So do you all usually keep your stops static within a certain range?
I started thinking about it after I recognized that the really A+ Pin Bars are sometimes longer than 100 pips especially in the daily charts and +.
Thanks Ahead
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I do tend to keep my stop losses very tight, like James16, on a high quality setups. StoragePro makes an excellent point about account size and risk tolerances.
But as James16 recognizes and what Mikes talks about alot is that an A+ PA setup has an inherent characteristic when Price breaks its trigger: Momentum.
Aug. 2009 Weekly PB on the Gbp/Usd. A high quality PA setup by any standard. Price broke nicely for about 30-40 pips and then maybe had a drawdown of 2-3 pips before running for over 200 pip. Now a large account size like James16 may have closed his order at 30 pips with a nice profit. Or he could see that this setup was going to reach the 1st target (previous Bar High on the Weekly) and made 62 pip. Or the other targets presented on the Weekly.
By placing your stop loss above the Weekly PB (400 pips) and you decide that it is a top and that you were going to hold no matter what you would be up about 1600 pips right now.
But back to your question. Having a tight stop loss on a high quality PA setup is back up by the understanding the momentum of the setup will dish out some nice pips either at or before the 1st targeted area.
Jim
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Mar 23, 2010 2:53pm
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J16 Senior Member cczar
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Cool video about Fib numbers.
Nature by numbers.
http://www.wimp.com/naturenumbers/
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Mar 23, 2010 3:25pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Jcp
Hi Jarroo,
Mike gave me some excellent advice yesterday on 500 and 1000 PIP BRNs. I noticed that on the weekly chart you show for Aug, 2009, that the pin did just touch the 1000 PIP BRN, as well as FIB retrace. A bit off subject, but just thought I'd bring it up because when I first looked at your chart I noticed the PIN a couple months prior and was trying to figure out what could have stopped me from taking it had I been watching it at the time.
Jacob
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Yes there was many supporting confluences on this one. I remember the discussions back then.
I also remember crying to Mike about how I couldn't keep a full position open. lol
It was a nice profitable trade none the less.
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Mar 23, 2010 3:44pm
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J16 Senior Member cczar
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Quote:
Originally Posted by KissFan
I'm a newbie when it comes to trading the "snail pattern". Does anyone know how to trade it? I didn't see it in any of my trading books.
K.I.S.S. 
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Very slowly brother. lol
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Mar 23, 2010 3:51pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Jonners67
Jim, does this mean you would set a more aggressive stop - i.e. not the "original J16" full pin bar stop? Or is it more managing the stop after the break (moving it as your targets are progresively hit)?
Some of these pins are soooo long. I understand position sizing to maximise risk to 2% max, but it can mean price has to travel a long way to get what others would consider a reasonable R:R (I know we have no pre-defined targets here).
Jonners67
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Yes that's it.
"Managing the stop after the break moving it as your targets are progresively hit."
Riding the momentum of the setup until your targets are hit and protecting yourelf along the way.
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Mar 23, 2010 5:20pm
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J16 Senior Member cczar
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Quote:
Originally Posted by KissFan
Haha! Seriously though I think now that I look at it I think that it is a legit pattern called a cup and handle. I still don't know how to trade it though. I'm going to check into it and come back later to look at it and see if it works out the way it is supposed to.
K.I.S.S. 
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Looks like a continuation pattern.
An inverted cup and handle which we will call what you have named it : The Snail.
http://www.investopedia.com/universi...ts/charts3.asp
Nice BEOB on the Hourly with support of the Snail. Let's see how it works out.
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Mar 25, 2010 1:26am
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J16 Senior Member cczar
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Quote:
Originally Posted by james16
CHART
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Yeah Jim . . . . I remember.
http://www.forexfactory.com/showpost...ostcount=52095
I believe someone else remembered your post when that BUOB was presented but I forgot who.
How did Jim know?  Is he psychic?
No . . . He just has seen this happen time after time and over and over again.
If you want to get ahead of the learning curve of J16 Price Action I would suggest you view James16's charts very often . . . every day if your new here (or old here). It did for me.
Two charts tells it all.
Last one is Jim on a recent hunting trip.
Jim 
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Last edited by jarroo, Mar 25, 2010 1:47am
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Mar 25, 2010 1:42am
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J16 Senior Member cczar
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Quote:
Originally Posted by Dan Gilbert
J16 isn't a signal service... Yet here he was basically tapping all of us on the shoulder more than a month in advance... I took the trade  . Although I got out before the consolidation range started
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Hanging on to a trade for the long term is a totally different mind set. You have to be prepared to endure big swings in the amount of pips each day and trust the BRNs and/or PPZ levels, like the 90.00 in this case.
James16's and Mike's charts will help you understand that it can be done.
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Mar 25, 2010 1:51am
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J16 Senior Member cczar
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Quote:
Originally Posted by LasVahGoose
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I seen those before and sent them too.
funny stuff. 
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Mar 25, 2010 1:58am
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J16 Senior Member cczar
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Quote:
Originally Posted by s005606
Thank you Jim for re-posting James chart, I wasn't even around this thread at that time. While I still haven't had much to share here, I've been following your posts too Jim, brilliant posts as always, pls keep them coming, so I can be learning from you and all the seniors.
p.s. the last photo almost had me laughing off the chair, there was snail here yesterday, and this today...... 
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Study James16's and Mike's charts every day. Its how I got started. After some time, I'm sure we will be seeing some of your charts too.
Yeah, we do have some fun here from time to time. 
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Indicators show the past. Price Action "Indicates" the future.
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Mar 25, 2010 2:28am
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J16 Senior Member cczar
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Quote:
Originally Posted by Dan Gilbert
My theory is that you don't even need to wait out these big swings/consolidation because you can re-enter at the next sign of good PA+location.
I closed up that daily BUOB just a couple trading days after I entered - BUT - I still managed to catch the big breakout on USDJPY by taking a weekly PA trade.... Helps me sleep....
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Good points Dan.
Long term trading is just a different approach that I work on all the time. You learn alot about how a certein pair moves. I'm still in the Usd/Chf trade from the weekly PB from Jan., albeit with my 2nd half.
Going up and down from 600 pips down to 350 pips over a few weeks is different but not that much different if you just take off the last "0" (zero). 60 pips to 35 pips.
The Usd/Jpy Inside(lost count)Bar on the Weekly was a no brainer and picture perfect in my book. Mike W noted it from last week. . . Nice.
You got love the hard break.
Jim
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Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, Mar 25, 2010 3:21am
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Mar 25, 2010 2:49am
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J16 Senior Member cczar
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Quote:
Originally Posted by arctos
Let's see... small pin (the nose looks real small compared to that sharp move down) in the middle of nowhere? Trying to stem a tidal wave with nothing backing you? Something like a huge dam/dike, a.k.a. PPZ, backing you up would be nice.
Relative newbie chipping in here (I don't even watch the 4H) coz it seems your post was a little neglected with celebrity James16 dropping in on the thread. 
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I agree arctos. You may want to up your newbie status.
Small PB to fight that strong tidel wave down with no support.
The 4 hour time frame needs all of the criteria of an A+ trade to come together to really be effective. Big Bars, BRNs, and many supporting confluences.
Good post arctos. 
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Mar 25, 2010 3:16am
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J16 Senior Member cczar
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Quote:
Originally Posted by fascist
Hello again, i just got stopped out on the EURUSD pair from what i thought was a perfect pin bar set up.
Anybody experienced the same thing?
I know on lower time frames it is not as accurate. But could anybody perhaps shed some light on where i might have possibly gone wrong?
thanks..
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Also, check out James16's chart on the Usd/Chf. Although the size of the PB was not as big as we would like, the location was very strong due to its many supportive confluences.
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Mar 25, 2010 4:11am
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J16 Senior Member cczar
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Quote:
Originally Posted by lovejoy80
I think that is one of the most important points about J16 - location, location, location.
I remember when I first started reading this thread and started demoing trades, it was all about looking for PA, scanning the higher time frame charts for outside bars and pin bars and getting excited whenever I found one. You then have the mindset that you WANT to find reasons to take the trade i.e. you want to find enough supporting confluences in order to convince yourself that it is a valid trade...it is also harder in that the higher timeframes require...
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Great post lovejoy80.
Excellent advice. We all seem to start out the same way, don't we. I've been there.
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Mar 25, 2010 4:16am
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J16 Senior Member cczar
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Quote:
Originally Posted by arctos
Thanks for the kind words jarroo. I guess I can consider myself a newbie no more when I get the consistent 3 months in a row. For now I'm sitting on my hands so much that it feels like it's going numb. 
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I know the feeling. You have to move your fingers around a bit to get the blood circulating back in them. lol

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Mar 25, 2010 4:41am
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J16 Senior Member cczar
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Quote:
Originally Posted by ertorque
I second Jaroo's compliment.
And Jaroo, I know that you are a proponent of identifying PPZ at higher time frames and then looking for PA when price reaches those levels.
Your charts almost always shows a sequence of different time frames with the same labels or boxes or arrrows on each of the charts. 
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Thanks ertorque.
When I do venture down to the lower time frames I try to always be aware of what the highertime frames are telling me.
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Mar 25, 2010 7:16am
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J16 Senior Member cczar
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Quote:
Originally Posted by bundyraider
Watching Cable and Fibre like a Hawk.
(...Hawks get distracted by forums too , don't they?  )
(Super confluence on Cable. Chart later...)
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Interesting brother. Deja vu all over again. 
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Mar 25, 2010 4:52pm
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J16 Senior Member cczar
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Quote:
Originally Posted by The Captain
GBPJPY is bouncing pretty hard off the trendline with a triple top on the M15.
(Sorry Jarroo you had the nicest looking charts I`ve ever seen and couldn`t help but copy them)
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Nice chart Captain. Too many wiggly lines, but if they work for you, great.
I like the longer term MAs (365, 200, and 150 emas) for confluence with PPZ levels and PA itself. You don't want to have so many MAs that you can't even see Price.
Just some thoughts,
Jim
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Last edited by jarroo, Mar 25, 2010 5:06pm
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Mar 25, 2010 5:26pm
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J16 Senior Member cczar
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Quote:
Originally Posted by The Captain
Thanks Jim. Those are the 3 I use, plus the 50sma and 50ema. Not quite as important but very often the price plays off the 50`s very nicely. I try to make them light colours so they dont get in the way. Its always a debate for me whether to have the 50s or not. Thanks for the tips. Take care!
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Draw in your PPZ levels or strong Support and/or Resistence levels and see if Price is reacting to those levels or your MAs. More then likely they are reacting to the PPZ levels.
Just something to help you in your debate.
Jim
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Mar 25, 2010 5:45pm
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J16 Senior Member cczar
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Quote:
Originally Posted by triger88990
Some thoughts about fiber.
Althought there are many people who expect eur to recovery despite Greek financial crisis, many investors where cought in this fade breakout(see chart) trying to push their luck by overcome a positive outcome for euro zone.
The overall sentiment is bearish if you have a an open mind and reasonably clear sight to loock at chart. I'm in opinion that Greece will bailout but is just not the time yet,it's a metter of how and when, till then I can't see a base where this sell of can end.
This drop that we are dealing...
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Wow . . good stuff there triger. Very nice.
Jim
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Mar 25, 2010 7:40pm
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J16 Senior Member cczar
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I sure ghous would say this qualifies as a Inverted Pin Bar on the Daily Usd/Chf. I'm demoing it now. let's see how it works out.
gotto go
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Mar 26, 2010 1:45am
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J16 Senior Member cczar
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Quote:
Originally Posted by spookie94
Ok, here's another annoying question on stop loss: Has anyone done a comparison for a set stop loss (30, 50, pips or so) versus setting the stop beyond the nose of the pin bar? I've read that James does 30.
Here's my delima: 1) A set stop of say 30 allows for larger lot size but you tend to look for smaller gains and usually don't give the menthod enough tme to do its thing. I find myself closing out my trade early in fear of a loss. 2) A larger stop means smaller lot size which means smaller gains, but I tend to give it more time.
Has anyone......
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Has anyone found one way to be better than the other or easier to manage?
The answer is really simple: The higher the quality of the PA setup the easier they are to manage.
I'm not sure of the setups you have taken but I can guess that they fell short of an A+ setup. Maybe you can show a chart or two?
For example let's look at a recently posted James16 chart. The Gbp/Nzd Daily PB.
Quote:
Originally Posted by james16
CHART
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This is at a swing low. The size is good meaning its as big or bigger the previous bars. The structure is solid meaning that the Open and Close is within the previous bar and the Close is higher then the Open. Also when we zoom out a bit, the PB went through and closed above a Support level.
As sChaos has correctly noted, a tight stoploss would make sense just below this Support level rather then a random or arbitrary fixed number. Let the charts tell you where the tight stop loss (if taken) should be placed.
Now why James16 only has a 30 pip stop loss. Again very simple, he is very picky on the high quality of his setups. He knows that when he find these setups they will break robustly most of the time. He knows the inherent momentum built into these setups when they break. And due to his large account, he doesn't need it to run to the moon, just to the obvious 1st target(s) (in blue) to show a sizable gain.
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Mar 26, 2010 11:22am
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
I sure ghous would say this qualifies as an Inverted Pin Bar on the Daily Usd/Chf. I'm demoing it now. let's see how it works out.
gotto go
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Working out just fine ghous  , . . . . where ever you are? 
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Mar 26, 2010 11:30am
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J16 Senior Member cczar
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Quote:
Originally Posted by triger88990
Its a game of patience and waiting.
I know that it may be frustrating to skip a trade and that trade turns out to be a tremendous setup, but you must force yourself to change your attitude and begin to think like the pro.
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Trading poetry my friend. Well said. 
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Mar 26, 2010 11:42am
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J16 Senior Member cczar
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Quote:
Originally Posted by triger88990
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The 1.0200 sure played its role very well too triger. 
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Mar 26, 2010 12:11pm
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J16 Senior Member cczar
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Quote:
Originally Posted by triger88990
nicely spotted
I'm always aware of the bigger picture 
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I'm sure you are aware of the big picture, trig.
It just wasn't noted on your chart and I wanted to show the true picture of the setup with all of its confluences. 
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Mar 26, 2010 12:36pm
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J16 Senior Member cczar
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Quote:
Originally Posted by mbqb11
Hey Trigger
Just MY person views below.
The idea is not to NEVER go down to lower timeframes, but starting out there most people can't make correct decisions fast enough, can't control themselves, and all the other things that a trader needs to have (patience, discipline, control of greed etc) to give themselves a chance to become the trader they want. I have seen too many people come and go b/c they don't give themselves a chance to be here in the long run. By learning to do this on the higher timeframes you are first of learning that it isn't...
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I was actually working on a response to his posts for the last half hour, and came no where near to your excellent (as usually) post.
The one thing I found about higher time frames as oppose to smaller time frames is something that you said long ago that stuck in my head. Higher time frames are just a stronger signal, because they have more data, more information. The more information the stronger the signal.
Smaller times frames need much more information, almost exaggerated confluences meaning really Big bars, BRNs and multiple confluences (not just one) of PPZ, divergence etc,. , . . ok I'm starting to ramble.
Great point: Ok, prove it on the Daily and Weekly for 3 to 6 months then talk to me about smaller time frames.
Thanks Mike,
Jim
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Last edited by jarroo, Mar 27, 2010 10:12am
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Mar 26, 2010 1:08pm
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J16 Senior Member cczar
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Quote:
Originally Posted by raczekfx
Yes, It is always a bonus... how did you know I was in that long trade...  ?
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Very nice indeed Rac-man.
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Mar 26, 2010 1:12pm
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J16 Senior Member cczar
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Quote:
Originally Posted by triggerju
I suppose, almost to answer myself (!), we could get the setups on daily/weekly and then drill down to small frame for a tighter stoploss and manage it that way? That way we don't risk silly big daily bar ranges as stoplosses with average targets: we can keep the "larger timeframe targets" whilst exploiting a "smaller timeframe stoploss".... maybe that's what Jim meant years ago early on in this thread???
any thoughts?
is anyone actually doing this very thing?
thanks all!!
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Scapling on the Daily and Weekly. By exploiting the smaller time frames with the higher time frame PA and bias. It's been done before.
The key is what to look for on the higher time frames, quality setup wise.
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Mar 26, 2010 1:47pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Noloqy
Interesting. Lets assume prices are driven by random noise and information. Here, information determines the path that the price follows, whereas noise reflects short term deviations from this path.
As a trader you attempt to identify the information part, and enter positions based upon that.
In order to do so, it is important to seperate this noise from the real information. As you move from lower timeframes to higher timeframes, the significance of this noise (variance) reduces and consequently the probability that the price patterns reflect information...
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Yeah that's what I was trying to say. lol
Seriously though, it does make sense. 
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Mar 27, 2010 10:21am
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J16 Senior Member cczar
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Quote:
Originally Posted by TiaForex
I know they are great for the forex markets but do you find them great for forex too Jim? Just curious as the jury's been out for me on that one.
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I'm sure you meant to say . . . "I know they are great for the Mini Dow but do you find them great for forex too Jim? "
Jim may have mis-spoke. I don't think Jim uses floor pivots on the Euro.
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Mar 27, 2010 10:51am
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J16 Senior Member cczar
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Quote:
Originally Posted by chatzi
Yeah I was looking at making trades with no pa confirmation it gives a high R/R but the win rate will be lower I rekon than pa confirmed.
Dont post charts on it here, when i did I got told off.
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You can post charts (trades) here that are locationally based. Please do.
I will assure you that you will not be "told off". If that was the case raczekfx and nasir would have been told off long ago. lol
Location is a key factor of a great PA setup. So post away brother.
Jim
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Mar 27, 2010 12:43pm
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J16 Senior Member cczar
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Quote:
Originally Posted by triger88990
have a great weekend guys
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Nice charts trig. Is it the end of the month already? Wow . .time flys when your having fun. 
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Mar 27, 2010 12:53pm
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J16 Senior Member cczar
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Quote:
Originally Posted by lovejoy80
Just to add something on the location of that daily pin bar on the Dow...looking at a weekly chart you can see that we are touching a strong PPZ area (also divergence)...didnt get the strong break we ideally would have wanted on Friday, but nevertheless we could get some more stalling or a reversal here next week...which obviously has an impact on the USD.
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Thanks lovejoy80.
We are definitely at or near retracement levels . The 11000 PPZ is well noted lovejoy. 
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Mar 29, 2010 3:40am
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J16 Senior Member cczar
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Quote:
Originally Posted by nasir.khan
A location.....
.
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Now your thinking like Rac, find some strong higher time frame PPZ levels then bombard it with confluences that make sense.
If the Cad is turning over to an uptrend then these retracement levels, S/R levels and trendline confluences make sense. Only if we are trending up. Are we?
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Mar 29, 2010 4:12am
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J16 Senior Member cczar
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Quote:
Originally Posted by spookie94
thanks to all for the response, I had been using S/R levels for my stops in the past, but I see from your 2nd chart I should look further back in time for confermation of those levels. One quick question, do you usually give a few pip buffer past the PBs for entries to reduce fake outs?
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Yes, you want to give a buffer on any PA setup. The higher the time frame the more of a buffer you want to give.
You want the setup to prove itself with a hard momentum break. This gives me confirmation that the setup is correct.
Many times a setup won't break or may break by a few pips only to retrace back into the setup. A buffer gives more room for it to move and prove if the setup is working.
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Mar 29, 2010 4:20am
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J16 Senior Member cczar
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Quote:
Originally Posted by bertie123
Jarroo
What size of buffer do you normally use for a weekly setup?
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Between 10-20 pips.
It depends on how the Daily bars (candles) look like prior to the Weekly setup break. Meaning if I have strong big Bullish bars just prior to my Weekly bullish PB I may use a smaller buffer.
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Mar 29, 2010 5:09am
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J16 Senior Member cczar
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Quote:
Originally Posted by ppfx
well id rather see it go down for another 100-200 pips
i hope the daily it closes below 1.0230  or better say below 1.0200 
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The 1.0300 is a strong Weekly/Monthly PPZ level as with the 1.0200. The trend is definitely down. I still think that price is going to sniff out that 1.0000. Price sure like running to those BRNs. We shall see.
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Mar 29, 2010 8:20pm
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J16 Senior Member cczar
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Quote:
Originally Posted by neutro
USDJPY is 'coiling' up for a new run up. Or is it down?  These I4B are tricky.
Amen from the back row.
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Its also a Double Inside Bar that just broke. Same with the 4 hour Gbp/Jpy. Nice.
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Mar 29, 2010 8:23pm
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J16 Senior Member cczar
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Quote:
Originally Posted by KissFan
I was just looking at how tough it is to trade UJ IB's. Over half of these daily IB's end up engulfed by the very next bar. I'll be watching the lower TF's for a bead on this one.
K.I.S.S. 
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What set this one apart is that its a Double Inside Bar. Let's see if that makes the diffence.
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Mar 29, 2010 8:35pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
Its also a Double Inside Bar that just broke. Same with the 4 hour Gbp/Jpy. Nice.
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Easy low risk trade for 30-40 pips. And maybe more.
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Mar 29, 2010 8:41pm
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J16 Senior Member cczar
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Quote:
Originally Posted by nasir.khan
10 more pips and we will have a decent PB.....
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Would anyone take it. 
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Yes, on the break.
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Mar 29, 2010 8:44pm
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J16 Senior Member cczar
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Quote:
Originally Posted by KissFan
Excellent point ya got there Jaroo. So far so good too!
K.I.S.S. 
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IBs can be tricky for sure. I think Dale looks for these type of IB setups for a reason. 
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Mar 29, 2010 8:47pm
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J16 Senior Member cczar
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Quote:
Originally Posted by KissFan
What is a "squeeze alert"? Is it an IB to an IB?
K.I.S.S. 
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Yeah that may be it . . . But I don't . . .  .
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Mar 29, 2010 9:33pm
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J16 Senior Member cczar
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Quote:
Originally Posted by supremeChaos
DanGilbert 'coined' a term for (possible) breakouts off of multiple IB's:
here.
in other words, Dale's Doubles or IxB's. 
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I see. Thanks sChaos.
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Mar 29, 2010 9:53pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Cyrus
Jarroo, where do you usually place your stop for IBs?
Above the mother candle or above the IB?
I've been experimenting, and I prefer a variation of the 2 depending on how the IB sets up.
Oh, btw, SC, Jarroo, I find the IxBs concept quite interesting too. Its to me an application bollinger: shrinking volatility leads to expanding volatility.
If we think about it market structure wise, it's in essence a bull-bear fight (I'm thinking 3500 on Fiber yest)... only one side can win, so we see an eventual "pop".
Magnitude varies of course....
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I like it above the IB itself, smaller risk.
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Mar 30, 2010 3:54am
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J16 Senior Member cczar
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Quote:
Originally Posted by Dale
I like easy low risk trades 
Great catch jarroo
(when fly fishing you make a lot of light quick cast's and catch a nice fish in the process, However they are not random casts, you cast where you think the fish are, or A++ Locations)
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Hey Dale.
This one looked good. At a swing high, with the over all trend down, although the short term was up. 138.00 was an obvious TP and is now acting as support.
Nice little trade that had long term potential. I didn't take the "stop and reverse" which looked good after it broke hard.
Casting is more enjoyable when you get to keep the same bait (capital).
Jim
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Mar 30, 2010 4:19am
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J16 Senior Member cczar
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Quote:
Originally Posted by Dale
Why I went out with the pro fishermen (guide) he taught me to do a few cast in each hole to see if there where any fish their, then move to the next spot.
And he thought he was teaching me to fish, it almost took me all day to relax and stop thinking about the market that day.
Since that day I have learned to stay relaxed when I fish ... and when I trade.
Best Regards.
Dale
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Well said Dale.
Once one learns that a relaxed patience is better then an anxious patience (casting wildly), things start to make sense.
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Mar 30, 2010 12:07pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
Now your thinking like Rac, find some strong higher time frame PPZ levels then bombard it with confluences that make sense.
If the Cad is turning over to an uptrend then these retracement levels, S/R levels and trendline confluences make sense. Only if we are trending up. Are we?
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Hey Nasir.
Here's your Rac touch trade. Blue line is Daily Support and PPZ Level.
Is the Cad now going to the moon? Who knows, (besides Rac. lol) but what I do know is that a low risk (small stop loss) touching a great location at a retracement level can be easily protected once it moves in your direction.
I tend to need more confirmation, Price Action wise.
Jim
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Mar 30, 2010 12:17pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Dale
jarroo,
I am not saying this lightly; "That one hit me right between the eyes".
I will remember your words for a long time.
Thankyou
Dale
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Your words and posts aren't bad either my friend.
Looking forward to more of your Dale's Double charts.
best regards
Jim
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Mar 30, 2010 12:39pm
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J16 Senior Member cczar
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Quote:
Originally Posted by nasir.khan
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I don't know if I'm the best, but studying Rac's charts have help me greatly in finding strong layered confluences.
Nice nasir. I like your Eur/Gbp. I haven't check them all but that one caught my eye.
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Mar 30, 2010 1:18pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Mp1983
Hi Jarro.
I love the way you make entries and TP's look so simple!
My question to you;based on the chart you have drawn when would you consider the trend to have reversed or at least a reversal have been confirmed? When it breaches the high on the extreme left of the chart or at some other juncture?
Thanks.
MP.

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Thanks MP.
I try to keep on the same path of James16. Keep is simple. Believe me, when I start making things more complicated its a red flag. The red flag tells me its time for a James16 chart review. Then I go through a bunch of them.
Trend reversal. The age old question. The trend is your friend until the bend in the end. Etc.
Breaking new Highs is a good indication. Price forming higher Highs and higher Lows is another. Big Price Action, like the famous Cad Weekly Pin Bar Nov. 2007. It is all important to observe.
On the 4 hour Gbp/Jpy, the trend on that time frame was down. This wedge formation did breakout, which should have given me pause that the short term uptrend could have been continuing. Hind sight is always 20/20.
I like when Price breaks a strong Resistance (or PPZ level) in an uptrend, then Price acts as Support. Much like the 138.00. Price is respecting PPZ levels in a up hill or up the steps of a up trend.
Just some thoughts,
Jim
(don't know it I came close to answering your question)
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Mar 30, 2010 1:38pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Mp1983
Jarro, yes it did go somewhere to answering the question.
I guess it's really more of a subjective thing but for amateurs like myself going with the trend can help build confluence whereas pro's like you can go against the trend, as in your GBP / JPY short, and still come out profitable.
Thanks again.

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That's the funny thing. . . .I thought I was going with the down trend. lol
The thing I didn't observe more closely was the wedge breakout. Time to study more of Mike's charts.
Having a clear setup, which I saw the Double IB as, and seeing a clear obvious target, 138.00, and protecting yourself a long the way can make anyone a pro. 
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Mar 30, 2010 1:43pm
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J16 Senior Member cczar
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7,002 posts . . . . WTF.
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Mar 30, 2010 1:59pm
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J16 Senior Member cczar
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Quote:
Originally Posted by mbqb11
hehe his posts are way more then that. All us old folks lost most of our posts at one point they cut the number in like half. Makes us look less lame 
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I gotta get out more. . . .  lol
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Mar 30, 2010 2:03pm
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J16 Senior Member cczar
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Quote:
Originally Posted by bluetrader
Just open the charts in the timeframe you would like to merge. Make sure the "Common" tab is configured properly (see first image). Click OK.
Sometimes the days don't merge properly (off by 1), so I need to do a time shift (see second image). Click OK.
That's it.
Hope this helps.
-- Danny
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Cool. I'll check out.
Thanks Danny.
Jim
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Indicators show the past. Price Action "Indicates" the future.
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Mar 31, 2010 7:36am
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J16 Senior Member cczar
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Quote:
Originally Posted by benji533
Not sure if you are a full time trader, but..
Don't worry. I bet the time you have spent around the forums and charts goes nowhere close to 10 daily boring and frustrating hours of job like regular people. It becomes so usual for them they forget there is anything else. Day begins with work, ends with work. All week. Like robots.
One day, if you will have a big enough account to play only the dailies and weeklies and make enough+, then it was worth every tear and trip of sweat imo.
There are people out there wasting their life doing crap and struggling...
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Nothing can be better, brother.
No, I'm not a full time trader. I'm getting there slowly.
As with any profession, you have to enjoy what your doing to be successful at it. That way it doesn't seem like work. To bad some people find themselves in a job that they hate or can stand to be in. But you have to pay the piper and the bills.
I love trading. I love the culture, the people , the verbiage, everything about it. What can I say. . . . its a whole alot of fun, especially when your winning.
Jim
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Mar 31, 2010 7:53am
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J16 Senior Member cczar
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Quote:
Originally Posted by supremeChaos
u are not full-time yet? 
so what's your profession?
awesome Sir 
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Supervision/consultant in the automotive industries and insurance business. More so in the insurance arena these days. lol
__________________
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Mar 31, 2010 8:02am
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J16 Senior Member cczar
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Quote:
Originally Posted by supremeChaos
i understand 
i dont get it... u spend a lot of time here (post & lurk mode: i pay attention, lol) while u have a job. u must be a high ranking employee with too much time in your hands. 
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Something like that.  . . . . lol
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Indicators show the past. Price Action "Indicates" the future.
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Mar 31, 2010 8:29am
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J16 Senior Member cczar
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Quote:
Originally Posted by skinfx
BEOB setup on Daily
set sell stop (1.3376) at 10pip below small PPZ. (Demo)
Any comments welcome.... thanks....
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Great buffer on this one skin. Very smart. James16's "This is Critical" all the way.
Would you believe this BEOB hit its 1st target? It sure did.
Although we would like these BEOBs at a swing high, I see your thoughts on this one as a continuation setup. You play it very well. No hard break on this one.
Notice the DBLHC at a swing low with divergence. Nice. Damn weekend. lol
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Last edited by jarroo, Mar 31, 2010 9:39am
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Mar 31, 2010 8:39am
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J16 Senior Member cczar
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Quote:
Originally Posted by yarin
why the price didnt go to the first Trouble area?
1.good size pin(by proxi)
2.365 ema
3.BRN 125.0 with strong SR area
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Are you sure that it didn't hit its 1st target, yarin? I think it did, easily.
Your PB by proxy is nice in size, 365 and 125.00 confluence but just too much traffic. We need Space for it to move to the 1st target or previous lows. The traffic got in the way.
What does this counter trend setup tell you since it barely reach its
target(s) and the break wasn't very strong? The uptrend is strong.
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Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, Mar 31, 2010 9:00am
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Mar 31, 2010 8:56am
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J16 Senior Member cczar
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Quote:
Originally Posted by yarin
well I tought this area is very weak so i didnt mind him...
but i guss u right,the pin is indeed in trafic.
tnx.
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I understand, you thought the momentum of the setup (due to its size, 365 and 125.00 BRN confluence) would cut through that "minor" traffic. But the traffic on the setup is equally important.
Don't get me wrong, these setups will work at times, but I have found that it they don't break hard and continuous . . . let them go and cut it quick.
Or the best approach is to pass on them altogether. A wait for one that meets every criteria.
__________________
Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, Mar 31, 2010 9:40am
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Mar 31, 2010 9:14am
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J16 Senior Member cczar
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Quote:
Originally Posted by ira
Strange... I was looking at this trade too, but my 365 EMA is under the candle. Does anyone know why?
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Quote:
Originally Posted by joelcf
You are using different brokers.
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Yeah ira, since different brokers use different Daily, 4 Hour, Hourly, etc., "Close" times that will alter the moving average. Since your ema is probably at the Close.
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Mar 31, 2010 5:50pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Lyra
Trying to learn touch trade from racz, nasir and trigger. I've spend this few days reading some of their older posts, but still not quite get the idea. Anyway this is the area I am watching, any comment would be appreciated. Thank you 
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Yes that's it. The Gbp/Jpy as well. Nice confluenced areas.
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Mar 31, 2010 5:58pm
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J16 Senior Member cczar
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Quote:
Originally Posted by mbqb11
Also to add to this if I may. That pinbar although by proxy shows very weak momentum for the bears. A strong close is very crucial IMO and why I never play proxy pins(IMO tougher to play). A strong close off this area could hav given a much stronger signal that the bears were acrtually wanting to shor thtis market. Instead price only bumnped up on the round number and stalled rather then sold off. This is crucial. It is not uncommon for price to ever stall at any round number like this, but the key is to decipher if it is TRUE selling vs just profit...
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Structure is important.
The Close is not lower the Open besides not within prior bars. Shows weak selling or not enough selling that we would like to see.
Thanks Mike. Excellent.
Jim
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Mar 31, 2010 6:03pm
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J16 Senior Member cczar
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Quote:
Originally Posted by lovejoy80
Add AJ to that too @ PPZ and 61.8 fib right now.
Also have EG @ 8836 on my watchlist too in terms of Rac style trades.
With regards EJ and GJ if the dow could be breaking out of it's 4 hour box downwards when price reaches the the confluenced areas this would be ideal IMO.
Jaroo - what MA is that on your chart by the way?
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150 ema at the close.
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Mar 31, 2010 6:11pm
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J16 Senior Member cczar
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Quote:
Originally Posted by ikki
You got it. Rac
Monthly PB in GPB/USD...
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The Rac-man is good. 
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Mar 31, 2010 6:18pm
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J16 Senior Member cczar
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Quote:
Originally Posted by benji533
Damn Dan! You have described it perfectly. I know that feeling very well, trust me on that buddy. It tended to drive me crazy, and still exists from time to time. It's the emotional pain you feel when your expectations do not get filled. That's why I always try avoiding making any expectations or self convincing about anything regarding the market. But that's hard - I remember taking a few revenge trades because of that.
By the way, I was watching the location on that trade like a hawk but didn't like the size of the daily bar. So after playing...
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Nice work Ben.
Expectations beyond the 1st obvious target, no matter how you view the quality of the setup, can be delusions of grandeur. You protect yourself anyway. I know the feeling as well.
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Apr 1, 2010 11:32am
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J16 Senior Member cczar
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Quote:
Originally Posted by Dan Gilbert
that has got to be the most confluenced area I have seen since I have started studying J16.
there's a descending trendline there too that lines up with the PPZ/61.8/150EMA. If price doesn't bounce off this area (143.20), I will sh!t bricks.
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Here we are in the zone. Touch traders take note.
Waiting for some nice Bearish PA is what we do.
Now what if Price cuts up and through this area? How strong of an indication would that tell us that the uptrend will continue?
Price maybe eyeballing the 145.00. No worries, we'll let PA show us the way.
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Apr 1, 2010 11:34am
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J16 Senior Member cczar
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Quote:
Originally Posted by ghous
confluence.
g.
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Hey Rac . . . . you changed your username. We already have a ghous.

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Apr 1, 2010 12:28pm
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J16 Senior Member cczar
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Quote:
Originally Posted by g_j_hook@yah
iv got my eye on this also!  i like the possibility of a break higher and a retest ?? who knows?
iv expanded a little on your chart Jarroo, i hope you dont mind?, as i wanted to pointout the possible decending wedge forming on the weekly/daily TF, normally a bullish pattern it could well break north after all those very strong candles weve had on the daily TF!! Then again its a great place for it turn around and take a nose dive?!
As you say though... PA will show us the way..
Use the force jon...use the force..

jon
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Nice jon. 
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Apr 1, 2010 12:37pm
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J16 Senior Member cczar
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Quote:
Originally Posted by ertorque
Hey Jaroo,
Seems to me that the momentum is very strong. It will be unlikely to find a bearish PA at this confluenced area I think but I hope I am wrong. The 4H is showing some sign of bull exhaustion on my chart right now but it will take a lot of bears to create a nice bearish PA. Don't you think so?
CY
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Yes CY. This may not play out today or even tomorrow. It may just hang around this area for awhile. Who knows.
All I know is that this is a solid area, seen by many. And I just wait patiently for some solid Price Action to show me the way.
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Apr 1, 2010 1:56pm
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J16 Senior Member cczar
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Quote:
Originally Posted by datogio
Come on guys, buy a little, help me to form a daily PB here lol
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Nice one dat. 
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Apr 1, 2010 2:04pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Lyra
Thanks a lot for your comment. My order on EURGBP has been triggered at 0.8845(demo), and my stoploss was placed at 0.8790. Let see how it goes. 
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Quote:
Originally Posted by jarroo
Nice one dat. 
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Nice to you too lyra. But I would use a smaller, tigher stop loss . .say 20 to 30 pips. That's just me.
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Indicators show the past. Price Action "Indicates" the future.
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Apr 1, 2010 2:12pm
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J16 Senior Member cczar
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Quote:
Originally Posted by datogio
there's a little traffic above on 4H, if we can break trough then would be nice 
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Yes sir . . .a nice ride to the moon.
Higher time frame traffic and PPZs still exist. Just protect yourself along your way to the stars my friend. 
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Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, Apr 1, 2010 2:24pm
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Apr 1, 2010 2:24pm
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J16 Senior Member cczar
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Quote:
Originally Posted by djmanu
Hi guys,
What do u think of these Daily Pinbars, off strong PPZ & Round Nr if they close as actually ?
usdchf
chfjpy
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The usdchf looks more like a big spinning top, neutral bar as it looks right now, but we have to wait until the close of the day. Yes, PPZs at RNs are indeed good location.
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Apr 1, 2010 2:37pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Stockwalker
What an +A setup? I mean which setup can we call A+?
Thanks,
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When I think of an A+ setup I think of the Weekly Cad PB in Nov. 2007. But there are many different types of an A+ setups due to its location and supporting confluences.
Have you checked out the guest section? There's some great free videos there to learn from.
http://www.james16group.us/Guests/guestmaterial.html
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Apr 1, 2010 2:54pm
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J16 Senior Member cczar
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Quote:
Originally Posted by nasir.khan
Spot on Jarroo.
I can't see the strong signs that could reverse this strong move. I did checked the market today by shorting AJ and UJ @ double top but got stopped out.
The beauty of a touch trade is that it should shake hands with your Confluence zone and then run as hard as it could.lol. and i can't see it happening on my Yen cross (AJ,GJ,EJ,UJ).
If look at UJ it has just broke its double top and staying nicely above it and same case with AJ.
EJ has also broke its long awaited 50% Ret.
Only one pair shown respect to confluence zone...
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Great observation nasir . . .and great charts too. 
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Apr 1, 2010 10:15pm
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J16 Senior Member cczar
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Quote:
Originally Posted by the_wizard
I'm with you on that one. I loaded up at 0.8850. I've been waiting for this level to get hit for a good while now!
The EJ PPZ at 127.00 didn't appeal to me although it was a good one!
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Hey wizard.
Had any problems with your modem lately. (jk)
Good to see you.
Jim
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Apr 4, 2010 10:01pm (22 hr ago)
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J16 Senior Member cczar
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Quote:
Originally Posted by ddinnov
Hi all,
Is anyone watching cable for a short down to 1.5000 in keeping with a reverse H&S on the daily chart?
Then a possible move up after that? I see last month's candle isn't a perfect pin bar but is it any kind of strong indication of an end to the downtrend?
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Quote:
Originally Posted by ppfx
Hi!
Im watching it too. Im waiting the break of 1.5350 , after the break i will probably enter the trade, cause on the left is not much traffic so it should be a smooth ride to 1.5580 which is the first trouble area imo. If it breaks of course and if everything goes according to plans. There are lot of if so... will see
ppfx
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I like it too, not for the size obviously, but its off a nice BRN, 1.5000 and
strong confuenced area, monthly PPZ and retracement level 61.8 fib.
Also like that the left eye is a weekly PPZ level. If Price retrace down to this level, it will give a good indication if the down trend or a retest of the 1.5 will be respected or not.
1.5350 is a key level before the break. If it breaks, I like to see it turn into support too ppfx.
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Apr 4, 2010 10:16pm (22 hr ago)
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J16 Senior Member cczar
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Quote:
Originally Posted by mbqb11
Nicely done here LJ
The key I am always thinking no matter what type of bar or location is to always be trading AWAY from the PPZ rather then into them. That has saved me the most over the years. Makes it much more difficult to manage into them.
Best
Mike
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This should be an "Ah-Ha" moment for many people. It was for me. It is at the heart of James16's "This is Critical".
" . . .always be trading AWAY from the PPZ ( Confluenced areas, BRNs, etc.) rather then into them."

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