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  #81045  
Old Nov 28, 2010 4:49pm
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Quote:
Originally Posted by Adilius07 View Post
Hey Jarroo, that is regarding that particular chart. Why in my view the price went down from there. Here is the chart I made with some examples.
I saw it works a lot of time. So this is a valid level for me to look for a setup too. Like minor pivotal s/r something like this.
Quote:
Originally Posted by Adilius07 View Post
Here, the ones that stand out. Sometimes it would not even come close, sometimes it is spot on. Like everything else I guess. But I think knowing this, should help me.
Looks real interesting Adilius. They do look like an area to look for S/R at swing points. But they do seem to fall in line with the simply premise of Support turning into Resistance (and vice versa) once Price breaks through and closes below (or above).

It would explain how a PA setup at a swing point tends to follow through with its Bullish or Bearish indication.

I like it , Adi. . .
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  #81048  
Old Nov 28, 2010 5:06pm
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Originally Posted by novice198 View Post
Hi Jarroo, Any reason why some other Hi / Lo levels are being ignored as shown by me.
Cheers
Novice 198

I didn't mean to ignore them, nov. They are definitely in play here on the Daily BUOB.

The size of the BUOB is not that big and the traffic you showed is a bit heavy. It should be an easy pass.

I do like its location and how Price will react to the .8500-8450 (meaning acting as Support) will be key for me.


Should be fun to watch or demo. .
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  #81049  
Old Nov 28, 2010 5:24pm
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Originally Posted by Adilius07 View Post
Thank you Jarroo for reply, I think I can use this just as another confluence factor for me... sometimes I eveb think that whole bar (the fractal hi/low) acts as one S/R zone. Like if we have a PB and have our SL behind it the price would often retrace into the PB's range then find its support and shoot from there... so can whole bar be a S/R? if so then it is logical - this level is like a beginning of that S/R bar...

Oh I think I said too much really, lol, I need to spend more time with my charts...

Yeah that may be a bit of stretch . . but I'm not discounting it. lol

I tend to look for the PPZ levels or "Price Flips" . .they carring more weight for me . .for now . .lol
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  #81051  
Old Nov 28, 2010 5:29pm
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Quote:
Originally Posted by Pinbar View Post
EG, BUEOB.


I know it is still below the BRN, but let's ignore that for now.


EDIT:

Finished.....
Well, we knew from the BRN alone this was a NO No trade but, I think the other reasons are probably equally as valid.

This is the sort of thing, I intend to try in a more spontaneous manner.


Any opinions both good or bad, greatly welcome.

EDIT: The other more obvious story looking at the daily alone.

Great analysis, Pb . . .
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  #81053  
Old Nov 28, 2010 5:42pm
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Will the 1.0000 act as Support since Price broke through Resistance and closed above on the Weekly Usd/Chf? Bullish PA at the 1.0000 would be a good confirmation. We shall see.
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  #81054  
Old Nov 28, 2010 5:58pm
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Originally Posted by ghous View Post
A PPZ which is obvious is a strong one

A PPZ that hosts plenty of solid evidences of S/R is a strong one

A PPZ that initiates aggressive bounces/rejections is a strong one

A PPZ that is not frequently visited is a strong one

A PPZ that lines up with round numbers is a strong one

Just a few characteristics of a strong PPZ (from the top of my head).

Obviousness is of course important. What makes a price level worthy of watching is the number of eye balls watching it, and that is directly depending on...

Good stuff here, g. . . . .
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  #81057  
Old Nov 28, 2010 6:15pm
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Quote:
Originally Posted by HanSolo View Post
Ladies and gentlemen, screen time and dedication pay out once again: PB and ATC are right. This pinocchio bar is lying big time. As PB noticed it did not close above the PPZ and under the BRN. A very bad sign despite this great bar.

I think I will post some more straightforward examples next time. Those exceptions are important to know but they are not the rule and probably don't build the confidence needed when totally new to this.

I do like these exercises . .they can be very fun and helpful.

But for me, I need to know what's going on . on the higher TFs to get a clearer picture from these setups. (chart)

I do not want to take away from these exercises . . maybe we can show part of the higher time frame that's just above it ?

No close above the 1.6000, no trade . . .good one . . .


Jim
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  #81058  
Old Nov 28, 2010 6:18pm
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Quote:
Originally Posted by mbqb11 View Post
yummy area

I thought I heard some alerts coming from your computer last week. lol
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  #81059  
Old Nov 28, 2010 6:21pm
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Originally Posted by jarroo View Post
I do like these exercises . .they can be very fun and helpful.

But for me, I need to know what's going on . on the higher TFs to get a clearer picture from these setups. (chart)

I do not want to take away from these exercises . . maybe we can show part of the time frame that's just above it ?

No close above the 1.6000, no trade . . .good one . . .


Jim
This one was just like the Eur/Usd Weekly PB .
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  #81125  
Old Nov 29, 2010 4:19pm
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Originally Posted by bluetrader View Post
Hi Geo,

I agree with Atc on this... but just sticking to the same timeframe. I highlighted the FTA on the chart (I know it's in hindsight, but do you see where price reacted to the .8515 level?). The key point with passing on this trade for me would have been the close. On this BUOB, the close only engulfed 1 bar and price failed to close above the BIG round number .8500

An additional weaknesses to the setup would also be a weak bar size.

I'm not saying this to beat you up Geo, we are all trying to learn here. Avoiding tricky setups like...
Quote:
Originally Posted by jarroo View Post
I didn't mean to ignore them, nov. They are definitely in play here on the Daily BUOB.

The size of the BUOB is not that big and the traffic you showed is a bit heavy. It should be an easy pass.

I do like its location and how Price will react to the .8500-8450 (meaning acting as Support) will be key for me.


Should be fun to watch or demo. .
I was looking to do a followup on this Daily BUOB on the Eur/Gbp but you expressed it perfectly, Danny. Price could not find Support at the .8500-8450 levels, to say the least.

Currently, Price looks to close below the .8450 on the Daily as BEOB continuation play. I would look for the .8450 to act as Resistance.
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  #81127  
Old Nov 29, 2010 4:40pm
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Originally Posted by xmzhang View Post
Hey Jarroo, got a question for you... Today my tradingsoftware generated on most of the major pairs strong BEOB's, but the positions of these BEOB's were not at swing highs. Normally a BEOB's can be traded as a pullback pattern (@ swing high), breakout pattern (within a range) or as a continuation pattern (@ swing low. How would you classify the BEOB's in the attachements ? And is there a different trading approach between these BEOB's @ different postions ? Why are continuation BEOB's more difficult to trade ? I took all these BEOB's on a demotrade...
One on the reasons we want our Bullish PA at a swing Low and our Bearish PA at a swing High, is the Space they provide at these swing points. Space provides room for our setup to run.

Continuations setups, like an BEOB that is not at a swing High, will tend to have more traffic and have less space to allow our setup to run . . .this translates into risky.

Like Mike has expressed many times, the story of the setup needs to be pretty compelling. He looks to continuation setups to have some other supportive characteristic that agrees with the story that setup is telling.

For example . . a pattern breakout, like a wedge break out, that fits into the story of a BEOB continuation. In other words, continuation setups better have other supportive qualities then just PA at an improper swing point location.

(chart example) Note: this wedge on the Daily Eur/Gbp may not fit Mike's strict criteria for wedge formation.
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  #81128  
Old Nov 29, 2010 4:53pm
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Originally Posted by g_j_hook@yah View Post
hi ghous, nice charts as usual , hope your well.

ii was just lookin at my chart before i read your post and i also liked the chance of the touch trade this mornin. i like this kind of setup,retest of the TL,with the PPZ at the RN, plenty of momentum..

jon
Nice chart Jon.

It may be the third touch of the trendline . .but its the 1st touch of the Resistance confluence that was previous Support. . .
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  #81130  
Old Nov 29, 2010 4:56pm
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Originally Posted by lallous View Post
Hello everyone,

I managed to document a trade I decided to enter today on the Eur/Usd.
I would love to hear from everyone.
Please go easy on me

Beautiful . . .
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  #81131  
Old Nov 29, 2010 4:59pm
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Originally Posted by james16 View Post
looks like a good crowd today.

any new folks here finding some success since my vacation started?

i see some new "faces".

welcome,

jim

Hey Big guy

Its good to see your young face.
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  #81136  
Old Nov 29, 2010 5:19pm
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Originally Posted by mbqb11 View Post
I had this on the watch list from earlier in the day. But I needed a close under the previous swing there to consider it personally.

8500 has been a fun area though

Mike
Did you see my Daily wedge on the Daily Eur/Gbp? . . .too much form fitting there?
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  #81138  
Old Nov 29, 2010 5:27pm
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Originally Posted by mbqb11 View Post
Yeah a bit for me Jim. Not that I don't agree we are wedging up cause we are. But to pull the trigger on. I still actually think that the area is good enough that if it closed down below the lows, price has no where to go in this situation.

Just my way of being picky of course :P

Mike

That looks much better . .clearer. The squeezy could be on.
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  #81139  
Old Nov 29, 2010 5:30pm
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Originally Posted by lallous View Post
Thanks Jarroo

That BEOB on Eur/Gbp looks very interesting also. The 4H tf shows some nice rejection of the 0.85 BRN.
Yes some good rejection on the 4 hour

I should just stay with the basics. . .
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  #81163  
Old Nov 30, 2010 4:47am
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Originally Posted by xmzhang View Post
Yes I see, so looking at the posted chart of the E-C, the triangle would then complete the story of the BEOB-continuation setup.
I would put that more at a Weekly Two Bar Low, Resistance breakout type trade. The triangle or wedge you drawn is not symmetrical and a bit form fitted. Checkout Mike's posts on these pattern breakouts, he's got alot of them in here .. . good stuff.


http://www.forexfactory.com/showpost...ostcount=75956


http://www.forexfactory.com/showpost...ostcount=80364

http://www.forexfactory.com/showpost...ostcount=74355

etc . .
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  #81166  
Old Nov 30, 2010 5:10am
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Originally Posted by jarroo View Post
I was looking to do a followup on this Daily BUOB on the Eur/Gbp but you expressed it perfectly, Danny. Price could not find Support at the .8500-8450 levels, to say the least.

Currently, Price looks to close below the .8450 on the Daily as BEOB continuation play. I would look for the .8450 to act as Resistance.

That worked out nice. A touch trade like this may go beyond the basic PA study of this thread, but I will say, many . . if not all of my touch trades are base on PA in one form or another.
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  #81169  
Old Nov 30, 2010 5:19am
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Quote:
Originally Posted by Pinbar View Post
GU monthly is looking interesting.

Let's see how it closes today.

A nice bullish or bearish PB tomorrow would be nice.
Quote:
Originally Posted by Pinbar View Post
EU monthly is also looking interesting and depending on how it closes, may shape our trading for the next month.

Nice charts there Pb . .man . .you've come along way.

I like the Space of your bullish PB senario . .it could be a little bigger, its been a strong move down this month. You gotta like that 1.5500.
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  #81171  
Old Nov 30, 2010 5:29am
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Originally Posted by lallous View Post
Hi jarroo,

if you zoom into the 4 hour TF, the chart shows how price was nicely rejected
Yeah I see a bit of rejection there. I would prefer more of a Kaboom type rejection like a Rac-man trade. Probably due to the choppiness of the bar Lows.
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  #81175  
Old Nov 30, 2010 6:01am
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Originally Posted by xmzhang View Post
Thanx J, especially that first post made me smile
I thought it would, that's why I posted it first. .
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  #81176  
Old Nov 30, 2010 6:11am
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Originally Posted by lallous View Post
Couldn't agree more.
Currently price seems to be stalling at 0.8381 zone.
It looks like a FTA to me?

Looks like the Monthly PB hit another target.
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  #81254  
Old Dec 1, 2010 1:29am
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Originally Posted by xmzhang View Post
This trade is really going my way, I sold the N-J last week on a pullback of a 4H-BEOB via a 30m-BEOB. Look how we started with a 4H-BEOB, then price gave us a daily BEOB and finally price gave us last week a weekly BEOB That 30m-BEOB gave me the most optimal entry point for this shorttrade, no or a very small drawdown that's what I prefer. Today price broke below the weekly BEOB and is heading for RNB @ 6200. Currently 271 pips profit on my remaining 1/2 position and closed first 1/2 position for a 175 pips of profit. SL currently @ the low of...

I do like this appraoch xmz. Playing smaller TF PA in confluence with a Higher TF PA . . .both of course, being bearish or bullish. The key is always the qualilty of the higher TF PA your're confluencing with. . .and the Nzd/Jpy 4 Hour BEOB fits; big size, BRN (65.00), etc.

I like how the 4 Hour BEOB cuts through a couple of Daily Highs (make that Weekly Highs) (purple lines). . .and when the Hourly and 30min BEOB forms off those Daily/Weekly highs as well . .what can I say . .it makes for a pretty good story.


PA Rules! . . .and so do Big Bars.
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  #81255  
Old Dec 1, 2010 1:44am
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Originally Posted by xmzhang View Post
Price has hit my buy limit @ 6200 and closed my remaining position. At 6200 there's some support confluence via a up-TL, 50% retracement and 150 SMA also previous consolidation could also provide some support.

Looks like its heading for the 61.50. Nice strong PPZ level there.
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  #81256  
Old Dec 1, 2010 1:48am
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Originally Posted by john225 View Post
Where is Ace? I?m missing his nice videos ;-)

Me too . . . Don't know where he's been . .
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  #81257  
Old Dec 1, 2010 1:56am
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Originally Posted by mbqb11 View Post
Hey Decentchap

Be careful with these. That bar is very small in relation to the strong bearish bars. Price hit the BRN of 1.55 and has "stalled" this is forming what looks like a pin by definition but the size would have me thinking of it as a small stall rather then true buying. These often do make the FTA(previous bar high) but will get quickly run back over by the sheer momentum of the downside

Best
Mike
I'm starting to think those small poodle PB at the end of a big move (in this case a bullish PB) as a sell signal . .lol . . be it at the low of the poodle or at its small target, if one is there.

But the 1.5500 BRN PPZ level will get some respect.
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  #81259  
Old Dec 1, 2010 2:08am
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Originally Posted by Pinbar View Post
Nice monthly GBP/NZD PB.

Almost a double low and off the 2.0300 area.

Maybe we will see some daily setups once we get past the 38.2 & the 2.1000 BRN

What can I say, Pb . . . I couldn't have said it better . .great analysis on such a choppy pair.

I like your Daily senario. . .well done, sir.
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  #81260  
Old Dec 1, 2010 2:14am
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Originally Posted by Almfx View Post
It also got the fibo.38 confluence with weekly ppz
atleast a short term run to FTA(prev.bar high) will be
The 1.5500 is definitely a strong BRN PPZ level . . .and that FTA could well be reached. Some nice big PA would but icing on the cake for me.

Not a bad locational play, Alm.
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  #81261  
Old Dec 1, 2010 2:19am
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Quote:
Originally Posted by mbqb11 View Post
sure BC

I am open to any/all situations If I think it's a high probability spot I am all for it

Here is just a huge beob at a swing high not much else to say about it

Best
Mike

I couldn't help myself . . .I had to show her again . . Nov. 2007 Weekly PB.
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  #81263  
Old Dec 1, 2010 2:20am
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Originally Posted by Adilius07 View Post
Ok, I think I got it.
What's that Adi?
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  #81265  
Old Dec 1, 2010 2:23am
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Originally Posted by Pinbar View Post
I know this is serious counter trend but, I am looking at it as a study of support and resistance of even a bar at a swing high.

I am not going to take this but, I am wondering if even a bar like this having a good location as in this case, being off the monthly PPZ, the open and close being above parity, can make it to the FTA which is where I am going to be looking for bearish PA.

Yes I would consider the 1.0000 now support, Pb . .we are on the same page.

Quote:
Originally Posted by jarroo View Post
Will the 1.0000 act as Support since Price broke through Resistance and closed above on the Weekly Usd/Chf? Bullish PA at the 1.0000 would be a good confirmation. We shall see.
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  #81266  
Old Dec 1, 2010 2:24am
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Originally Posted by Adilius07 View Post
How to trade

Cool.
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  #81269  
Old Dec 1, 2010 2:37am
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Originally Posted by Adilius07 View Post
All I have to do now is not to make any stupid mistakes...

I hear ya Adi . .its what we all work on. Over time, those little dumb mistakes get fewer and fewer . .as long as we learn from them.
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  #81270  
Old Dec 1, 2010 2:56am
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Originally Posted by 666Doom View Post
Hey Mike and Jarroo,

Did you notice anything not so good about this pinbar.
Just confirming if i am thinking right.

1. It did not retrace till left eye,so my order did not got triggered.
2. It almost was 10 hours since i place my order so i canceled it,may be no euro session.

So my question without any doubt i know this was not having much room to go,but if it would have retraced till the left eye it was good.
Good for 100 Pips.
My reasons for it being good were plenty.
Fibs and Monthly PPZ
And BRN.
What do you say was it good enough for Pinbar,again...

It looks good Taz.

My only concern is, as you said, the traffic its running into. But the same old Support turning into Resistance is in play here at the 1.5620. Can this PB be enough to turn it back to Support? That's the question.

So we have to see if Price can close above the 1.5620 to show Support. We can do this by looking to the lower time frames to see if we can get a close above on the Hourly or 4 Hour.

It does look good . .but for many the traffic is too much and a pass would be taken . .even if it hits its targets.


Just some thoughts,

Jim
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  #81272  
Old Dec 1, 2010 3:13am
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Originally Posted by Pinbar View Post
Well, than you Jarroo...

Hold off on the Sir bit though.

It is all thanks to your Great teachings.

Funny when we start learning we feel, it is so easy, then it is so hard and we feel lost with our heads spinning and we hit our personal FTA.

Then a generous persons points us towards the light, and slowly we see a glimmer at the end of the tunnel.

Amazing thread and even more AMAZING PEOPLE!



EDIT: Yes, I remember well that comment about the parity area.

lol . .you got that right about the learning process . .many people just give up at the "lost" stage.


Your chart makes sense to the left eye . .but then again it may just keep going down. . .that PB is not the biggest.
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  #81274  
Old Dec 1, 2010 3:30am
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It looks good Taz.

My only concern is, as you said, the traffic its running into. But the same old Support turning into Resistance is in play here at the 1.5620. Can this PB be enough to turn it back to Support? That's the question.

So we have to see if Price can close above the 1.5620 to show Support. We can do this by looking to the lower time frames to see if we can get a close above on the Hourly or 4 Hour.

It does look good . .but for many the traffic is too much and a pass would be taken . .even if it hits its targets.


Just some...

Like I said Taz . .it does look good. Now lets see if it will hold as Support.
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  #81276  
Old Dec 1, 2010 3:36am
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Yes, I agree but I think it will be interesting to watch how it reacts at that double low. Will it break through it or will it bounce and take off in the direction of that PB?
Yes . . left eyes usually do hold generally (in this case) as Support.

If the close of that PB was above the 2.1000 then . . .now we're talking.
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  #81277  
Old Dec 1, 2010 3:42am
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Originally Posted by g_j_hook@yah View Post
hi Dave, jus a word of warning to clear things up, someone (sorry i cant find the post to quote your name)pointed out i had mistaken the hidden bullish divergence i marked..it is infact hidden BEARISH divergence!! derr! sorry for the confusion.


cheers Jarroo, good to see you still around and workin hard!

jon

Thanks jon . .good to see back for awhile.


James16 and Raczekfx talk about the first time back on many different types of setups.

I'm searching out Rac's post that mentioned that. I remember Rac and ghous talking about it way back when . .something like . .1st time back; good . .2nd time; OK . .3rd time, so-so. . .4th time, no way. . . something like that.
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  #81280  
Old Dec 1, 2010 4:02am
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Originally Posted by g_j_hook@yah View Post
heres a couple im demoing atm..

gb/yen, nice sized pin bar at the 130.00 PPZ and the 50% fib confluence. took the retracement of the pin bar near the RN 130.00 (had my eye on that price) running into traffic so will be watching carefully.

gb/chf daily pin bar, not bad shape but decent location. taken the standard way with my stop below the pin and my entry 10 pips plus spread above the pins high. as Jarroo has pointed out, its also running into traffic so one to manage tightly also.
lets see what happens?
Like I said , jon . . good to see you back . . .nice . . .
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  #81281  
Old Dec 1, 2010 4:09am
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Originally Posted by g_j_hook@yah View Post
thanx,
yeah, i remember a post from James16 about the retest of the 365 MA after price has crossed it. will also search some out, i like that sort of setup.

Yeah, the first time back on the long term emas.

But to your post that I mentiond that .. where Price turned from Support to Resistance (or vice versa) with added confluences like the trendline confluence you had . . .the 1st time back is where the famous "KaBoom" type setups that Rac keys on.

Have you seen Rac's thread?
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  #81283  
Old Dec 1, 2010 4:30am
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Originally Posted by Almfx View Post
Jarroo, luks like we might close the 4hr with an outside bar in ~45 min.
Letz see how it plays out !!
That was a nice pop.
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  #81288  
Old Dec 1, 2010 4:41am
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Originally Posted by g_j_hook@yah View Post
you could have thrown in a fib for good measure also,lol. i saw the thread , iv read most of it and its in my favourites. not gonna miss that lol Racs a mean dude!!
Yeah . .right at the 50 retracement. Classic Kaboom.

The Rac-man Rocks. . lol
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  #81290  
Old Dec 1, 2010 4:56am
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Originally Posted by Almfx View Post
Looks like its at the target.

The power of location over formation.
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  #81295  
Old Dec 1, 2010 5:31am
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Originally Posted by Osman View Post
GM Guys,

Just closed half of GBP/CHF @ 1.5720, moved stop to BE on the pending half.

Tc

Hey Tc . .I don't know if you saw my posts on this setup . .this was my concern . . .


Notice the BUB in yellow and how it closed above the previous Resistance.

The PB did not have the same type of close placement. You can see how a close above this level would have made the PB a more attractive setup.
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  #81296  
Old Dec 1, 2010 5:40am
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Originally Posted by xmzhang View Post
Thanx for the feedback J, yes this trade was a perfect example of the power of multi-timeframe analysis. That whole downward movement was triggered by that pullback 30m-BEOB, although 30m-TF is shorter term, moves that occur in the higher TF or long term require shorter term momentum to start.

May the force be with you.
Yes, this maybe true xmz . . . but do you see that the whole story of the 30min BEOB had to be told or seen. . the Higher time BEOB, the Daily/Weekly Highs and how they came into play, etc. Much better to understand then just a random BEOB on a 30min chart.

You told the story very well, xmz . . I just pointed out some other chapters (weekly highs) of the story . . .
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  #81369  
Old Dec 2, 2010 1:58am
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Originally Posted by xmzhang View Post
Not only him, a lot of the other guys who used to post here when I joined this thread in august seem to have stopped visiting this thread, maybe they all have become succesfull traders now thanx to this thread

Yeah I guess some of them just move on . .but I think a lot of them lurk in the background.
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  #81372  
Old Dec 2, 2010 2:24am
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Originally Posted by 666Doom View Post
Thanks Jarroo,
You are always rocking sir.

Quote:
Originally Posted by 666Doom View Post
That breakout was good.
But sad part guys.
My TP was missed by 5 pips at the top,i closed positions for tiny profit.
But got a win,so i'm happy.
Hey Taz thanks.

Was your trade on the Hourly Aud/Usd a breakout of the highs? Sorry, I'm a bit lost on this setup.

I am enjoying your Touch Trader Method thread . . .
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  #81373  
Old Dec 2, 2010 2:28am
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Originally Posted by lallous View Post
Thanks Jarroo,
as time passes this fact is proving itself to me

It will continue to prove itself to you . .there's nothing like a strong confluenced location . .add a great bar confirmation and look out. ..
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  #81374  
Old Dec 2, 2010 2:37am
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Originally Posted by mbqb11 View Post
Yeah there are a few different phenomenons that I see over and over again around these BRNs after watching them so long. Love it

Look where price went no surprises right guys?

Mike

That poodle target was not a bad, low risk sell entry . . good for a nice amount of pips.

I guess I would rather have people looking at these poodles (in this case bullish poodle PB) as a possible selling opportunity rather than having people buy into them.

Just some thoughts.
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  #81376  
Old Dec 2, 2010 2:43am
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Originally Posted by benji533 View Post
Loooooong time............Where is Mikeee

here's a chart for him

Hey ben . .good to see you.


Wait . .What?? No divergence on that chart?? . . . . . .
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  #81377  
Old Dec 2, 2010 2:54am
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Originally Posted by xmzhang View Post
I'am putting my money on the N-J, price found solid support as anticipated. On the 1H-TF we see multiple support confluences. If price closes on the daily as a BUOB (or DBLHC) I'll be looking for a long via a pullback entry as usual ......

There you go xmz . .


BUOB on the Daily with a retracement level Hourly BUOB.

Notice the retracement to the previous bar high on both the Daily and Hourly BUOBs. The 63.00 RN and Daily 365 ema was a nice added touch of confluence.
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  #81379  
Old Dec 2, 2010 3:12am
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Originally Posted by stewrigh View Post
Jim and X,

I used to wonder about this too.

But if my experience is typical the answer is that we still lurk and occasionally post.

Now I don't use the J16 method exclusively, but it does form a major part of my trading and I shall be eternally grateful to all the guys(I won't name them all bcos I'm bound to miss someone) on this thread for their help over the past few years, although they probly didn't realise they were helping at the time.

It's taken me about 5+ years to get here and it's bloody hard but I think I'm a slow learner lol....
Great post stewrigh . . .we know you're out there . . . .it's go to see guys still looking in now and then, either to post a chart or just to say "Hey".

All good things, my friend.

Jim
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  #81380  
Old Dec 2, 2010 3:17am
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Originally Posted by ddinnov View Post
I'm in this one as of 62.90

Hopefully I'll be at BE by the time it's NFP as I'd like this one to have some legs

Previous bar high entry on that one ddin?
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  #81381  
Old Dec 2, 2010 3:27am
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Price is testing Support of the 1.0000 on the Usd/Chf. . .putting up a pretty good fight.
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  #81382  
Old Dec 2, 2010 3:35am
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Originally Posted by ppfx View Post
wow thanks for pointing that out jarroo i was kinda busy with the exams...again and didnt see it

This is the setup you talked about when i posted the NZDUSD trade right?
On the GU was a similar situation-twice, and i missed both of them...again LoL looks like im missing all the action... gotta look at the charts more often. if i only had more spare time....
Nice chart ppfx . . .The Rac-man is still rolling.
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  #81384  
Old Dec 2, 2010 4:19am
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Originally Posted by ddinnov View Post
Yup

Was a bit touch and go (pun intended) putting it below the 63.00 RN but somehow it felt right at the time.

I'm in EUR/USD as well now as of 1.3130 - hope I'm not over trading

Has anyone else UK based applied for the new turtle traders experiment? I've applied and joined the facebook group - it's quite lively!

The Daily BUOB close was above the 63.00 (FxPro was 63.02 not the best) this would give you a bit more confidence in your 62.90 preivous bar high entry.

A better situation would be if the BUOB's close was . .say 63.35 and the previous bar High was 63.00 . .if you know what I mean.
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  #81495  
Old Dec 2, 2010 11:24pm
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Originally Posted by decentchap View Post
Hi Jaroo,

I am long based on that poodle pin bar at the moment, holding tight with SL at 9945

The one on the Daily? The size of that one is not that bad, but the location is a poodle . .better to have that at swing low.

As a continuation bullish PB, it was running into a good looking PPZ level at the 1.0070ish not to mention the previous bar Highs. Price did make it to that level/ zone off that PB. A tough trade unless you played a retracement off the 1.0000 (chart 1)

Price broke through the 1.0000 that was acting as Support. Fib retracement levels are lining up with these previous Support level which I will look for them to turn into Resistance with confirming bearish PA, of course. (chart 2)
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  #81497  
Old Dec 2, 2010 11:32pm
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Originally Posted by jarroo View Post
The one on the Daily? The size of that one is not that bad, but the location is a poodle . .better to have that at swing low.

As a continuation bullish PB, it was running into a good looking PPZ level at the 1.0070ish not to mention the previous bar Highs. Price did make it to that level/ zone off that PB. A tough trade unless you played a retracement off the 1.0000 (chart 1)

Price broke through the 1.0000 that was acting as Support. Fib retracement levels are lining up with these previous Support level which I will look for them to turn into...

Yes, it is also a 2 day BEOB. Although its not at a swing high but in consolidation it has good potential.
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  #81499  
Old Dec 2, 2010 11:36pm
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Originally Posted by benji533 View Post
Good to see you still sticking around and kicking with 9,572 posts my dear friend

Is it that much already . . .
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  #81500  
Old Dec 3, 2010 12:04am
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Originally Posted by xmzhang View Post
Hey Jarroo, how about this 4H-BUOB @ 8400 of E-G ? Entry on a pullback, a nice BUOB on the 10m-TF at previous bar low was my buy trigger. Closed 1/2 position at the important PPZ @ 8450, lets see if she is able to crack the 8450 ......

Not bad xmz. You got to like those previous bar highs on BUOB ( or those previous bar lows on BEOB).

One thing I like about your trades zmx, is that once your target is reached, you don't mess around . .you take some sort of action to manage your trade. Be it 1/2 off, or B/E or full position, etc. This is key to the trade management of what James16 teaches. . . good for you . .

You got to like the confluence of the 61.8 and BRN .8500.
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  #81501  
Old Dec 3, 2010 12:24am
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Originally Posted by stewrigh View Post
Hi guys anyone watching this??
Attachment 591101

It had some good confluences going for it . .Divergence, 150 ema, a bit of the 61.8 fib, 132.00 RN . . it had a some Space but some traffic to contend with. . .The size was its only problem.
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  #81504  
Old Dec 3, 2010 12:44am
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Originally Posted by Atc View Post
Was watching that and liked this also...I'm just screwing off demoing the 1H sideways trading channels...practice...practice ...practicing for game day....if I get positive results.
Hey Bill.

If that was just a bit bigger and/or at the 1.3425, which was a previous Daily Support level, 61.80 fib, 150 ema, . . I would have been all over it.

It had a nice hard break . .if I were to take it . .it better break like this or I'm out. I find its better to wait for my location . . .which I'm sure you agree.
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  #81507  
Old Dec 3, 2010 12:53am
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Originally Posted by mbqb11 View Post
I thought I missed this bar, and just was about to go looking through my charts to kick myself
I made sure I showed the dots . . lol
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  #81509  
Old Dec 3, 2010 1:06am
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Originally Posted by mbqb11 View Post
my friday brain is in full mush effect.
Im sure your looking forward to the Christmas holidays, Mike. You've been on fire with both this thread and the PF all year(s) long . .non-stop. . . you're a freaking machine.

I don't know what both places would be without you. Your'e the Man of the Year.
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  #81511  
Old Dec 3, 2010 2:07am
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Originally Posted by spookie94 View Post
AM I THE ONLY ONE WHO PLAYED THIS WRONG?

I entered on the break of the BOUB, plus buffer and spread. Was there a better entry? Was my stop close?
Quote:
Originally Posted by ghous View Post
Nothing wrong with the entry for sure,
g.
Quote:
Originally Posted by ghous View Post
I'd recommend staying on the same time frame to manage trades just to keep things simple.

g.
Quote:
Originally Posted by Atc View Post
Most importantly this is just my opinion

First the day is not done.

Bill


Hey Spookie.

Ghous and Atc summed it up nicely. The only thing I can add or emphasizes is that the setup would be "A" quality if it had more Space, like the Daily BUOB Nzd/Usd ( I know its not technically a BEOB because of its low is not lower than the previous bar's low by a few pips. .so call it a 2 Day PB).

It does have a good chance of hitting its target, much like the Daily BUOB on the Aud/Usd which is a similar setup but had a hard break which I like to see.
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  #81512  
Old Dec 3, 2010 2:25am
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Bingo! Now that's one rocking trade, demo or not. That 'clunk" sound of hitting the nail on the head is adorable each time you hear it no?

g.

I believe that the correct sound is . . .KaBooM!! . . . .lol
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  #81514  
Old Dec 3, 2010 3:07am
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Originally Posted by ghous View Post
yup, that would be the flip side of the coin I failed to address.

Nothing wrong of course if you have a proven method where you consistently go in with tight stops and it works for your trade management strategies and mindset. Hell that's what Jarroo does day in day out.

Spookie mentioned he tightened the stop on that very trade primarily to improve his position size which got me going,

Thnx for clarifying Mike.

g.

That's the key point g . . consistency with the same trade management with the same setup you choose that fits your style. There are different setups that I choose that require different trade management styles. I don't change them in mid stream or when they are in play. If they meet my criteria, I stick to the trade management that fits that setup.

Now there are some setups that can be played in multiple ways like the A+ setup . .many ways to skin that cat. But the consistancy of how you manage a trade for a given setup can keep the second guessing at bay.
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  #81515  
Old Dec 3, 2010 3:33am
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Originally Posted by 666Doom View Post
Yeah sometimes it is hard to catch up in this thread.
And i am talking about myself here.
lol
It was a small tiny breakout trade but i leveraged it, got 4 mini lots.
Would have easliy made a lot in one trade.
But still was a winner.
Sorry for late response sir.
There is nothing so damn good in my thread i learnt from masters what should be the outcome.

A good human being and a better trader.
I think its pretty damn good Taz . .
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  #81646  
Old Dec 5, 2010 6:50pm
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Originally Posted by Oldice View Post
This one is for Jarroo (although all thoughts are of course welcome):

Jarroo, I notice that when you draw PPZ lines you tend to do so based on the open/close of candles, as opposed to the high/low of bars. Do I have that right? If so, can you say a bit more about the importance of the open/close in determining PPZ location, and why you prefer that to the bar extremes?

Thanks, and if I've misunderstood your style, please do correct me!

--Dave

Hey Oldice.

I initially look for PPZ levels on the Higher TFs at these extreme of Highs and Lows and will then catagorize the Level as either Support or Resistance by how Price Closes.

For example on the Nzd/Jpy Weekly, notice the candle I've marked in yellow. Even though it was a very bearish candle with a long wick, it still closed above the 65.00 BRN PPZ level.

You can see the 65.00 PPZ still offered Support with bullish movement by the next candle in blue, albeit short lived.


On the Daily Nzd/Jpy, the 63.00ish PPZ level is still offering Support by how the candles close.

So I do still look at High/Low extremes for PPZ level, but how Price closes once it interacts with these levels helps determine if the PPZ level is acting as Support or Resistance.
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  #81647  
Old Dec 5, 2010 7:06pm
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Originally Posted by 666Doom View Post
My sound was Like Boom.
Guess i'm new that is why less sound.


Nice one Jarroo.
Regards
Taz


That was coined by Raczekfx . .

Notice in the post below that it was off a Daily PPZ level.


Quote:
Originally Posted by raczekfx View Post
NJ - daily pin,
...retrace, price pivot, 50fib ret, pin on 1hr off of Daily ppz....Kaboom ... up?
.
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  #81649  
Old Dec 5, 2010 7:10pm
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Originally Posted by Oldice View Post
Thanks very much, Jarroo; I'll study this. I think I get it... but not sure. If I were to try drawing a "Jarroo chart" or two would you mind telling me if I'm understanding?

--Dave

Sure thing, Dave . .
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  #81652  
Old Dec 5, 2010 7:30pm
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Originally Posted by decentchap View Post
Hi Jaroo,

Thanks for your insightful comments.

Unfortunately for me, I entered at the break of that pin and took a full bar loss when that big red bar occurred the daily.

I am very new to the trading but i don't personally think demo account will work for me. So at the moment I am using a very little amount with a live account, as it gives me exposure to the emotional side of the trading.
I have done quite a bit of reading on the pinbar, so trying to lookout for them and play them if appropriate.
Hey decentchap.

It is best to look for these Bullish PBs at swing lows (and Bearish PB at swing highs), especailly in the beginning of learning this material . .and trust me . .even after you've learned the material for some time.

Looking for them is a good practise; . . are they big in size, are they structured correctly, etc. But more importantly is their location of where they're formed; . .swinging down to PPZ levels, BRN or both . .bullish PB. Swinging up to a PPZ level, BRN or both . . bearish PB. . . .etc.


Keep practising on Demo . .you'll get use to it.
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  #81653  
Old Dec 5, 2010 7:36pm
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Originally Posted by fxprocessor View Post
Hi Mike, James, Jaroo and all just thought I'd pop in and say hi. Hope all are doing well

All is well, fxp . . .good to see you.
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  #81655  
Old Dec 5, 2010 8:21pm
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Originally Posted by cprao View Post
I am also looking at this PB but the Monthly BEOB is not really good sign here.

It is not triggerred yet.. but it is still valid since the high is not broken yet.

As Jarroo points , Most of the time, BUOB/BEOB retraces (either before break or after break) to the previous high/low or obvious PPZ before going in the direction of BEOB/BUOB.

So I am not sure, how this PB has to be treated.

May be, trade this only weekly time frame ( if PB is "A" setup) without considering monthly BEOB.. I guess this is what Mike generaly does.. he...

Hey cprao. I've read Mike's comments as well.

PA setups are best played on the time frame they are presented on. The Weekly PB and the Monthly BEOB are definitely in play here and should be traded separately.

The Weekly PB looks real good . .its what we look for in my book . . .

If Price can break through Weekly PB and find Support at its break we'll be looking good. I still see Price retracing a bit more into the PB before it breaks . say at the 1.3300.

On the Monthly BEOB, a retrace to the previous bar Low , as you said, would not surprise me.
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  #81663  
Old Dec 6, 2010 2:12am
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Originally Posted by HanSolo View Post
Hello Jarroo, I'm still not sure how to handle BRNs in terms of my trade mgmt. Considering you take this trade. How would you trade and manage it? Would you enter above the BRN/PPZ or just move to BE soon enough? Would you enter at the retrace or at the 2nd break?

I know it is the whole story and it depends on many factors (last not least my own experience). But I lately got a little anxious trading bars like these into BRNs. I'm just trying to find out if I'm over analyzing.

The 135.00 is an important BRN, but I don't view it as being that strong compared to these other levels on the weekly; 1.3450-40, 1.3300. I would like to see Price break through the 1.3443ish and the 1.3500 and have these levels act as Support.

If I take the break of the PB I would manage it tight and move to break even quickly. I like the retrace to the 1.3300 and/or the left eye, some nice bullish PA on the Daily at these levels would help the confirm the weekly bullish PB's potential.
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  #81665  
Old Dec 6, 2010 2:22am
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Originally Posted by g_j_hook@yah View Post
i like the other side also, us/chf has a weekly BEOB coming off strong PPZs

it is running into pretty strong resistance though but could have potential in my view?
Nice charts jon. I like your .9600 level potential. We may get a retrace back up to previous Support. We may have to make sure that its now Resistance . .. . .we'll see.
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  #81666  
Old Dec 6, 2010 2:28am
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Originally Posted by HanSolo View Post
Ah, trading the support after a breakthrough or a retrace makes very much sense to me. Thank you, Jarroo.
I forgot to mention and its why I mark that earlier Weekly PB in yellow. We can see that the current one is much bigger, but as we saw before, Support turning into Resistance can be a powerful thing.
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  #81667  
Old Dec 6, 2010 2:42am
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Originally Posted by 666Doom View Post
Hey Pinbar,
Great Charts.
hey do you know why jarroo hasnt arrived for help yet.
Man it has been a lot of time,where is he.
I need help,we need help and, his guidance.
Hey Jarroo please, take the pain to answer the very last question i put for you.
I am desperate to learn from you.
Regards
Taz


Hey Taz ..lol . .I had a long weekend . .what can I say.


Your charts are looking good .. . .
Quote:
Originally Posted by 666Doom View Post
Hey there Guys,
My Chart.
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  #81668  
Old Dec 6, 2010 2:46am
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Originally Posted by Donkey View Post
Keeping it simple is best. I'm probably going to post way too many charts in a row, but I've been watching EG and that weekly bar form. Sometimes I think it's good just to look at the peaks and troughs on a line chart, identify the trend, and decide do you want to trade countertrend.

What I personally don't like about that weekly PB is the close right at the BRN, FTA is pretty close, and that it is only at minor swing low to me. It is a tempting bar for sure though. I could see almost equal chances of the bar being pushed up or further rejection...

Nice charts and analysis D . .

Your 4 hour chart looks real good. I would like a bit more Kaboom, maybe london will bring it.
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  #81669  
Old Dec 6, 2010 2:57am
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Originally Posted by ghous View Post
I'll begin with this:

There are heaps of trading systems, money management concepts and trade management ideas that work. As traders the task we have at hand is to develop a combination of strategies that best suit our needs and mentalities. You don't to that by introspection. You get to that point with a lot of trial and error and practice i.e you learn to walk only when you trip over enough times.

Let me see if I get your dilemma right. At one end you want your trading to be really simple based on a few things "that work for you" but at...
I think you nailed it ghous. Its hard to get around an individual's mind set when we analyze our different charts. Only time will tell but keeping things simple and obvious is right way to go and I may have been getting away from that in my recent posts in the scope of this thread.
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  #81670  
Old Dec 6, 2010 3:03am
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Originally Posted by ghous View Post
As a followup,

Here are my thoughts on the two setups you mentioned. If EG breaks long I think hitting 86000 would be Job well done. If Eu breaks long a hard break should see 1.37

That's all there is going through my mind about the two. Trust me if you will Bar shape (strong vs weak look) Space to FTA and a visual idea of where the bar is at is what decides my trades 98% of the times.

(not recommending anything, just letting you know what normally goes through my mind when I trade)

Had it not been December, Eu...

I like the Weekly Euro PB and the Eur/Gbp Weekly PB may lack strength due to its size and weak close but its Support level (location) may make up for it. . .we shall see.
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  #81671  
Old Dec 6, 2010 3:07am
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Originally Posted by 666Doom View Post
Lol That is Cool.
But Jarroo is like 50 right,i bet he is more of charmer even in this age.

But on second thought running after women is a great job on its own.

I did not say that anyone cannot answer this.
I genuinely need help,so anyone is welcome.
Ghous,Jarroo,Pinbar,Mike,Rac anyone.
And a lot of great names.
If you did not find my question i will guide what it was.
Help is Help,i will be greatly obliged with any efforts on anyones part.
Thank You.
Taz

You guys are hilarious. . . . lol

What was the question . .again?
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  #81673  
Old Dec 6, 2010 3:21am
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Originally Posted by Adilius07 View Post
Hello Jarroo, how are you? Whole weekend I was reading both threads original "No free lunch..." by Bemac and then yours "DIBS no free lunch continued".

I have to say that is one amazing approach to trade the market. Not just IB's but the way to hold the winners and to cut lossers short. I think we can have the same kind of approach with any other J16 PA setup, some winners will run for months and years really (I just look at some PB, BUOBS) that reversed trend for long term.

[u]Just wanted to ask if you still trade original method on 1HR...
I don't trade the DIBS method that much any more due to the time of day. I'm mainly trading the higher times frame. But the DIBS method works very well when I do use it. . .like on the 4 hour or even the 8 hour TF.

See Dale's Double Inside Bar setup . . its very good. (Dale is his username.)

I will apply the same "free trade" approach on some PA setups. Its a good way to cover your risk, then just moving to break even while jumping on trend.
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  #81675  
Old Dec 6, 2010 3:27am
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Originally Posted by Adilius07 View Post
Thanks Jarroo!

Going to check Dale's IB in a minute.
When you trade 4 and 8HR, you look for the setup to be above/below WEEKLY close?

Yes, that can be one confluence but also on the Weekly close itself inrelation to PPZ levels . . .meaning did the Weekly close as Support or Resistance to that PPZ level. . . again another confluence.
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  #81677  
Old Dec 6, 2010 3:56am
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Originally Posted by 666Doom View Post


Let me present the question here.
There is a lot less chance that a monthly high will be exactly matching with the bars of lower TF.
Say this month actually made a high and then never made it back to that place but still it will be seen that when price reaches that area it will stop,irrespective of the confluence.

Which means that area was important(ie monthly high/lows are important).
But what if the high is in common with a weekly cluster (several) highs.
Then don't you think that area is enhanced.
I...

Yes if you could show a chart that would be helpful.

Monthly and Weekly Highs and Lows are very good levels on their own. They will appear as strong S/R levels on their lower TFs. Rac will use other confluence (fib, 50% ret, trendlines, etc) on the lower time frames with these Higher time frame S/R levels.

This Rac post illustrates that . .before the fact.
Quote:
Originally Posted by raczekfx View Post
NJ - daily pin,
...retrace, price pivot, 50fib ret, pin on 1hr off of ppz....Kaboom ... up?
.
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  #81678  
Old Dec 6, 2010 4:00am
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Originally Posted by Pinbar View Post
Got my eye on NZD/USD.

Monthly bearish PB, weekly BEOB, TL, fibo and PPZ confluence on H4.

I like it Pb .. its right at the left eye (Monthly PB).
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  #81680  
Old Dec 6, 2010 4:06am
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Originally Posted by Pinbar View Post


Hey Jaroo, that post was by TAZ not me.

Hope you had a great weekend, chasing women as TAZ suggested. LoL

I have just realized that PPZ drawing on the TF I am looking at is best, then moving to the weekly or even Monthly to check and adjust as neccesary is much easier than starting on the weekly.

Let's see how it goes.

I will not be able to fulfill my 5 H4 trades that I mentioned yesterday, had to go out and when I thought about it, why would I want to make 5 trades in a day anyway, there may not be any setups....
Ooopps sorry about that.

Good decision Pb.
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  #81681  
Old Dec 6, 2010 4:27am
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Originally Posted by ghous View Post

An important part of anticipating a strong break would be the strong close on the pin bar.

g.

Trading poetry, ghous . . .
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  #81683  
Old Dec 6, 2010 4:41am
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Originally Posted by g_j_hook@yah View Post
i thought i would throw this up for comment..
us/yen weekly BEOB coming off some quite good res.
this is how i see it..
(daily chart is a bit busy..sos)
jon

EDIT: would have liked to have seen a higher high also to really test that area
Looks like that 83.00 is acting as strong Resistance.

Nice charts jono.
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  #81714  
Old Dec 6, 2010 4:25pm
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Originally Posted by jarroo View Post
Nice charts jon. I like your .9600 level potential. We may get a retrace back up to previous Support. We may have to make sure that its now Resistance . .. . .we'll see.
Quote:
Originally Posted by ppfx View Post
another example of the break-retest type of trade...

Attachment 593400


Very nice ppfx. I got a few PMs on this one and I thought I would use your post to jump from.


There is so many PA setups that went on with this pair (Usd/Chf) today it would make even James16's head spin . .(ok . .maybe not. . .lol).

But if we break it down to individual time frames and look at them independently, it would cut down on the some of the confusion.

Also, it will show that knowing what's going on .. on the higher TFs can help your decision making on a lower TF setup.

On the Weekly, we have a BEOB at a Resistance level. I see and understand the 1.0000 BRN, but I'm just going off the Support/Resistance that the chart is telling me.
The swing high of the Weekly BEOB could be a lot higher . .its actually at a swing low, but its of good size..

(darn it ) I'll be right back . .
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  #81720  
Old Dec 6, 2010 6:25pm
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Originally Posted by jarroo View Post
(darn it ) I'll be right back . .

Sorry about that . .


As I have mentioned before, Price tends to retrace back to its previous bar High or Low on Outside bars. Mainly this is due to what we talk about all the time, Support turning into Resistance once Price breaks through and closes below. (and vice versa) Weekly chart.
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  #81721  
Old Dec 6, 2010 6:32pm
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Originally Posted by jarroo View Post
Sorry about that . .


As I have mentioned before, Price tends to retrace back to its previous bar High or Low on Outside bars. Mainly this is due to what we talk about all the time, Support turning into Resistance once Price breaks through and closes below. (and vice versa) Weekly chart.
The Daily had no obvious PA on it but the 2 Day TF showed a nice BEOB engulfing a couple of other 2 Day bars. Price is showed breaking through the .9850 of previous Support . . much like the Weekly TF did.
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  #81722  
Old Dec 6, 2010 6:46pm
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Originally Posted by jarroo View Post
The Daily had no obvious PA on it but the 2 Day TF showed a nice BEOB engulfing a couple of other 2 Day bars. Price is showed breaking through the .9850 of previous Support . . much like the Weekly TF did.

On the 4 Hour Time frame, we have a BUOB . .

At a swing Low, good Space, good Size, little traffic, at 61.8 fib retracement level, above a RN, .9800, nice hard break . . its what we look for .

Target(s) . previous bar High/Lows. Knowing what we know on the higher TFs, the .9850 looks like a pretty good target, wouldn't you say?
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  #81723  
Old Dec 6, 2010 7:13pm
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Originally Posted by jarroo View Post
On the 4 Hour Time frame, we have a BUOB . .

At a swing Low, good Space, little traffic, at 61.8 fib retracement level, above a RN, .9800, nice hard break . . its what we look for .

Target(s) . previous bar High/Lows. Knowing what we know on the higher TFs, the .9850 looks like a pretty good target, wouldn't you say?

On the Hourly TF, I look for strong PPZ levels on the Higher time frames.

Once located, what is that PPZ level currently act as? . meaning, is it acting as Support or Resistance because of how Price broke through it and how it closed.

We know from the Weekly and 2 Day charts that .9850 is a PPZ level currently looking to act as Resistance because Price broke through it as previous Support.

We now wait it see if Price can make it back or retrace to this .9850 level and see if any bearish PA can confirm it as acting as Resistance.

Price reaches the .9850 level . . and a hourly BEOB at this level is presented. Mike's words rings so true about the size of PA . .the bigger, the better especailly on the Hourly.

The size may not be huge but its not bad size-wise. Also, we have a confluence with the 50%-61.8 fib at this level, we're with the down trend and we have some Space available.

Knowing that BEOBs will retrace to its previous bar Low (and we know why it does), the .9850 is a perfect entry.

I hope I answered most of the questions concerning these setups on the Usd/Chf, for those that asked.

I believe this is a good example of trading TFs indepentently yet knowing what's going on . .on the higher TFs is important.

Jim
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  #81725  
Old Dec 6, 2010 7:26pm
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Originally Posted by Pinbar View Post
Morning Jarroo


Interesting USD/CHF post and the retracement of a BEOB to the previous bar low you are talking about, fits in perfectly with this post I made to XMZ asking about the Monthly BEOB and the weekly PB on EU.

I am thinking that because of the nature of price retracing to test the Previous bar low of the BEOB on monthly, even though it is a bearish PA signal on the monthly TF, the weekly bullish PB does not really conflict with it because we can still expect a retest of the BEOB previous bar low.

Any chance you could comment on...
Yes I saw your post on the Eur/usd.

Absolutely . .we can have mixed signals on different TFs and all of them can work out as expected. Just be sure that the setup on that given TF has all the making of a quality setup. . .meaning Size, Space, PPZ levels, Confluences, etc.
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  #81727  
Old Dec 6, 2010 7:33pm
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Originally Posted by g_j_hook@yah View Post
cheers,yeah,price has been huggin that area all day. wonder which way it brakes?? oscillators have are bottoming out quickly which is usually a fairly bullish sign in my experience but we will soon see!
i took a 1h BEOB on the eu/yen last night which turned out good. banked half and have my SL in profit.

Very nice jon . .the 111.00 was a higher TF PPZ looking to act as Resistance . . .classic . .


What's an oscillator??? . . . (jk...)
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  #81728  
Old Dec 6, 2010 7:48pm
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Originally Posted by Pinbar View Post
I am thinking that monthly BEOB has more traffic in front of it than the weekly PB. Thus, a retrace is quite possible.


Thanks Jarroo.

So that Weekly bullish PB could bring Price to the previous bar low of the Monthly BEOB . . .this would not surprise us, correct?
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  #81730  
Old Dec 6, 2010 7:52pm
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Originally Posted by Pinbar View Post
Right, that is what I am trying to convey.

The 365 EMA may act in favor of the weekly PB.
I and James16 (and others) would agree with you that the 365 ema on the Weekly TF is added support (confluence) to the Weekly PB.


gotta go

Later

Jim
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  #81755  
Old Dec 7, 2010 5:38am
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Quote:
Originally Posted by g_j_hook@yah View Post
lol ya know...it goes from over spent to under funded...?...ah, no wait a minute...that would be my bank account!! lol
I hear ya jon .. . lol

Quote:
Originally Posted by jarroo View Post
Very nice jon . .the 111.00 was a higher TF PPZ looking to act as Resistance . . .classic . .
I shouldn't have said "looking to act" as Resistance because the 111.00 was already acting as Resistance on your Hourly BEOB.
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  #81756  
Old Dec 7, 2010 5:58am
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Originally Posted by ppfx View Post
Awesome explanation Jim From charts like this i have learned most of what i know now (not that i know much, but i have learned a lot from them). Switching between different timeframes is great-you see the whole story. I remember when i started trading, i traded the 5m-1h timeframes (if think about it now it was pretty limited) using only trendline trading with no clue about what PA,PPZ,RN, meansSurprisingly i didnt blow that many demo accounts that i think i should, if i think about it now,... LoL

Thanks ppfx . ..yeah I started on the 15min -5min way back when. Thank God I found this thread.

The Gbp/Usd had some nice PPZ action around th 1.5650. Very clear price flips at this level on the Daily TF.

The 50% retracement offered some good confluence but no clear, strong PA was presented on the 4 Hour and Hourly. Although a tight S/L, touch trade could have taken . .
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  #81758  
Old Dec 7, 2010 6:15am
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Happy Birthday Mike . . . . . . .

Your getting to be a real old timer . . .lol . . . .yeah, right . .
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  #81919  
Old Dec 8, 2010 4:10pm
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Originally Posted by mikeb View Post
Trying out the support turning into resistance touch trade. Let's see how it turns out. I'm doing this to show how hard it is to pull the trigger when you see such a nice big bulish bar.
Hey Mikeb,

Touch trades can be real tough especailly when Price is on a tear. Even with a confluenced level, which the 83.50 level had with the 61.8 fib (so-so), once Price start building momenum (more buyers, in this case) its tough to stop even with a good looking PPZ.

To put it in a different way . . . Your 83.50 is good PPZ level mikeb, what does that tell you about the strength of Price when it went through it?

The level is strong too, but Price was stronger. It doesn't take away that the 83.50 is a good one. I would look for it to act as Support. Much like the 83.00 acted as Resistance once Price tore through that level.

Touch trades at strong confluenced levels are one thing . . . , by "strong confluence", I mean many of them at the same level: PPZ, BRN, Fib ret. or 50% ret., trendline, planetary alignment, the kitchen sink, etc., . .

. . .but nothing beats a nice big PA formation at these levels to confirm . .and strengthen . .the setup to pull the trigger. No clear bearish PA at the 83.50 on any TF.
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  #81920  
Old Dec 8, 2010 4:25pm
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Quote:
Originally Posted by james16 View Post
bottom line is this.

if what your doing is not simple, repeatable, refinable and in my humble opinion non indicator based then its a long brutal road.

its why i started this thread all those years ago.
Quote:
Originally Posted by james16 View Post
please new folks dont do this until you have proven yourself first on longer time frames.

Nice trade on the 10min, Jim . . .It reminded me of a trade I took about a year ago.

Looks about the same . . but the Time frame . .10min . .Weekly . . . . . . .


Quote:
Originally Posted by jarroo View Post
Anyone in on this Usd/Chf Weekly PB? Nice hard Break above the 1.0300. (James16: "This is Critical") . Nothing on the Lower time frames showed me anything great prior to the break. Blue areas are my targets.

PA Rules!
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  #81922  
Old Dec 8, 2010 4:39pm
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Originally Posted by bluetrader View Post
Really starting to enjoy trading higher time frames. Haven't looked at intraday charts in over a month.

Here is my take on USD/JPY. We have a 2 month pin bar that just closed. I took a retrace to a well defined PPZ. Hopefully it will close as a BUOB.
Where is it going? I don't know, but my stop is at BE. My eye is on the 87.00 - 88.00 zone.

Happy B-day Mike. Are you 30 yet? We need some company.

-- Danny
How's that trade working for you Danny? . .man . .that was sweet.
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  #81923  
Old Dec 8, 2010 4:54pm
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Originally Posted by Imphilomath View Post
Hi gurus,
How could I have talked myself out of taking this trade?

Strong points were
- Weekly timeframe ( higher the better)
- Bearish outside bar
- with the weekly trend
- Next weekly bar broke out ( some momentum)

what are those weak points those I missed.
In case you took the trade anyway, how would you have managed it to minimize loss ( not full weekly bar loss).

Appreciate if you can share your thoughts.

Hey Imphil . . .no gurus here . . .just some folks that has been doing this for a bit longer.

Its not too bad . . the swing High could have been higher .. ideally up by the 88.00. But you were trading right into a Weekly PPZ level. . .around the 82.35, the 1st target got hit.
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  #81925  
Old Dec 8, 2010 5:08pm
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Originally Posted by bluetrader View Post
Really starting to enjoy trading higher time frames. Haven't looked at intraday charts in over a month.

Here is my take on USD/JPY. We have a 2 month pin bar that just closed. I took a retrace to a well defined PPZ. Hopefully it will close as a BUOB.
Where is it going? I don't know, but my stop is at BE. My eye is on the 87.00 - 88.00 zone.

Happy B-day Mike. Are you 30 yet? We need some company.

-- Danny

Hey that was your entry (or just about), Danny . . .double sweet . .
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  #81929  
Old Dec 8, 2010 5:13pm
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Originally Posted by mbqb11 View Post
and

Great webinar last night, Mike .. . .
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  #81934  
Old Dec 8, 2010 5:37pm
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Originally Posted by Imphilomath View Post
Thanks Jaroo !! I think I am still not that good with ppz. I can see them in hindsight but can not find them otherwise. I really need to learn this well. After 1 year of paper trade, feels like still back to basic.


cheers

If you look at bluetrader's post (Danny) I believe he looked at this PPZ level (82.35) on the Daily Time frame, but it was there too on the Weekly.

Quote:
Originally Posted by bluetrader View Post
Really starting to enjoy trading higher time frames. Haven't looked at intraday charts in over a month.

Here is my take on USD/JPY. We have a 2 month pin bar that just closed. I took a retrace to a well defined PPZ. Hopefully it will close as a BUOB.
Where is it going? I don't know, but my stop is at BE. My eye is on the 87.00 - 88.00 zone.

-- Danny
His was more of a touch trade, I believe. . .seeing that the 82.35 was going to act as Support since Price broke through and closed above the previous Resistance level.

Have you seen any of my post on PPZ levels? Where Price turns from Support to Resistance once Price breaks through and closes above or below (and vice versa)?

Your chart looks good on how you drew PPZ levels . .
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  #81938  
Old Dec 8, 2010 5:58pm
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Originally Posted by gasgas View Post
Would u guys say this two day pin finally broke hard? little woried about resistance Im facing now

I like that it broke and closed above the 111.00. . .good chance it will act as Support. Those previous bar Highs (blue) look good for your target.
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  #81939  
Old Dec 8, 2010 5:59pm
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Originally Posted by Donkey View Post
I was watching this one too PB. Looks like price plowed through the BRN today. Now we can wait for previous resistance to become support.

Fly me to the moon .. . . . .
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  #81943  
Old Dec 8, 2010 6:19pm
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Weekly BUOB on the Chf/Jpy.

Notice how Price could not close below the previous bar High on the Weekly BUOB . . . I love Outside Bars ..

Price closed above the 85.00 BRN and previous Resistance on the Daily . .maybe now this BUOB can begin to unfold.

I got your journel update Donkey . . ..
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  #81944  
Old Dec 8, 2010 6:25pm
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Originally Posted by Pinbar View Post
GBP/NZD Monthly PB.

Took one third off at 150 pips +spread.

Looks like this one may be a runner.

Just moved the SL above the 2,09000 and below the weekly pivot and 365 EMA on H4.

Was your setup on the 4 Hour, Pb?
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  #81948  
Old Dec 8, 2010 6:48pm
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Originally Posted by Pinbar View Post
Yes, it was...I watched the H4 candle close above the BRN, the first candle to do so in over a year. The next candle open was above the RN, it tested the area and took off.

I like to see a close above previous Resistance occurr on a higher time frame but this also works . .nice job.

Why not move to break even or are you looking for a more long term play here?
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  #81950  
Old Dec 8, 2010 7:12pm
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Originally Posted by dcart View Post
Took this today. Not the best pin, but for me it had good location and confluence; at a swing high off a trendline and it had double fib confluence also.

Two confirmed LH's showed there was momentum behind the move, even though the dominant trend is up. Showed nice rejection of price after a strong bull bar.

The only reasons i came up with to not take the trade was that the FTA was quite close and it went a against the dominant trend.

Am i on the right track with my analysis?

Price was 5 pips away from my 3rd target area, got out with +35...

Excellent confluences on this one, dcart. If that PB was a bit bigger and pierced the 1.0000 (red dotted line) you would have had a Mike chart, video and road billboard on this one. . . lol (jk).

Fib levels, 50% ret. levels, trendlines are at their best when they confluence with PPZ levels and/or a Support / Resistance level. The area I have in white looked to be enough of a PPZ level to meet your confluences . .do you see that? . .very nice.

You can see the 1st target in blue gave you that breif retrace. . .better seen on the 4 hour TF. But it hit the obvious target, previous bar highs, quite nicely.

All in all, very nice indeed, dcart.
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  #81951  
Old Dec 8, 2010 7:13pm
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Originally Posted by Pinbar View Post
Well, this H4 breakout got me into the Monthly PB break and looking at the weekly TF, we have a nice flip area that the daily candle may well close above in the next 4 mins. I want to give it a little more room than BE.


EDIT: Sorry. Still half asleep here....I actually traded 0.05 and took off 0.03 and moved the SL to less than the profit taken so, I am actually at BE already without moving the SL to the point of entry. If you see what I mean.

I see what you mean Pb . .very nice . .
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  #81960  
Old Dec 8, 2010 9:49pm
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Originally Posted by jarroo View Post
. . I love Outside Bars ..
I should have posted this earlier.

Daily PB off the Weekly BEOB previous bar Low.


You all know about the previous bar Lows on BEOBs (previous bar Highs on BUOBs). Hopefully this is a good example that explains it.

Any one know where my targets are??

gotta go


be back later.

Jim
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  #81969  
Old Dec 9, 2010 1:56am
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Originally Posted by Donkey View Post
I'll give it a shot...

Your target #1 would be the ultimate target for the Daily PB, previous bar Low(s). I like the .9800 RN as the 1st target or FTA. There is a bit of PPZ level there (white).

Your 2nd target is perfect for the Weekly BEOB if it gets there and breaks, of course. Good eye.

I like to define my targets on the TF that the setup was presented on, as you probably know, D. But nothing wrong with looking at the higher TF PA to work in those longer term targets.
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  #81970  
Old Dec 9, 2010 2:19am
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Originally Posted by spookie94 View Post
I've had this one open since Monday. If it doesn't trigger by tommorow would you recommend canceling it?

sChaos made some good points, as always . .thanks brother . .

That Weekly Pb is in the middle of . . . a mess; Weekly consolidation. Not saying that it doesn't have potential but its in a bit of a crowd . .don't you think? Not at a swing Low, more so in the middle of a wedge formation. Not the best setup.

Also, you can see why it failed to break . . running into some traffic . .and my good old friend, BEOB's previous bar Low. Didn't I mention I like those Outside bars.
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  #81971  
Old Dec 9, 2010 2:28am
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Originally Posted by aserbfx View Post
anyone comments about this pinbar?
Hey aserb.

Its a bit small and I would like the head of that PB where its nose end is located . .right at your blue line PPZ level. Nice strong uptrend though.

That blue line looks sweet. . .Resistance . .Price breaks through and closes above . . .and now its acting as Support. Nice.

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  #81972  
Old Dec 9, 2010 2:44am
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Originally Posted by Pinbar View Post
Hmm, I reevaluated the situation after this comment and moved to BE+.

I think I had the monthly pivot slightly lower than it actually was, therefore I am now a few pips below the monthly PPZ & I took off another 0.01/

Not much I know, but it is hedging the account in the black.

Summary: Deposit/Withdrawal: 0.00 Credit Facility: 0.00 Closed Trade P/L: 43.95 Floating P/L: 7.34 Margin: 31.66 Balance: 3 143.26 Equity: 3 150.60 Free Margin:...

Keep working it out there buddy . . .
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  #81973  
Old Dec 9, 2010 2:55am
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Originally Posted by james16 View Post
Sorry ive been a stranger.

You may have been a stranger as of late . .but you're been here in spirit with every post, Big Guy.


btw . .great charts .. . .
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  #81977  
Old Dec 9, 2010 3:14am
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Originally Posted by james16 View Post
thanks old buddy.

if i could just rewire my brain to not feel guilty when i leave for a couple of weeks it would be much easier.

probably never gonna happen.

its just me.
You got a lot of good people here, Jim . .and new ones coming in all the time . . .we'll keep the home fires burning, my friend.
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  #81984  
Old Dec 9, 2010 5:06am
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Originally Posted by ppfx View Post
entry missed by 5 pips....

Attachment 595409

I saw your post ppfx . .good plan.

Did you see my chart in my post to abserb? Sometimes the "Closes" are something to look at as well as the highs (in this case with the Eur/Jpy)

Not trying to confuse, just something for you to look at, my friend.
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  #81987  
Old Dec 9, 2010 5:28am
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Originally Posted by Pinbar View Post
I see Jarroo, also is keeping that option open.

It was actually Ghous's IPBs that really made me take a closer look at the closes of bars. It was amazing to see how Price reacted, or should I say respected, the close of IPBs.

Take this IPB on the Daily Usd/Jpy in Nov. Not the prettiest . .you could even call it a very weak BUOB. But all the characteristics of an IPB are there.

Price is respecting the close very clearly. There are other example of this with other IPBs . . .maybe its just with IPBs but I did take a closer look at the Closes of bars. .

Nice way to pick a bottom . .wouldn't you say Ghous . . .
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  #82091  
Old Dec 10, 2010 3:34am
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Originally Posted by jarroo View Post
Your target #1 would be the ultimate target for the Daily PB, previous bar Low(s). I like the .9800 RN as the 1st target or FTA. There is a bit of PPZ level there (white).

Your 2nd target is perfect for the Weekly BEOB if it gets there and breaks, of course. Good eye.

I like to define my targets on the TF that the setup was presented on, as you probably know, D. But nothing wrong with looking at the higher TF PA to work in those longer term targets.

Usd/Chf daily PB update. 1st target hit.
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  #82092  
Old Dec 10, 2010 3:40am
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Originally Posted by Pinbar View Post
I take it that you consider the weekly PB on EJ to be an IPB?

Can't really see that, as the close is right on the 111.038 area and we have the 50 fibo as confluence.


Just reconsidered that weekly blue PPZ. Perhaps, I see what you mean now as the open is right below it, or am I curve fitting this now?
I'm lost on this one, Pb.
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  #82095  
Old Dec 10, 2010 3:56am
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Originally Posted by ppfx View Post
Yes i saw your post and i know that. You've told me that. I usually check the line chart regarding the closes.




I know i saw gasgas's post, but a little intraday reversion is still valid. If you look at the chart my FTA was reached and it almost hit TP1 as well.

That's right, we have talked about the closes before, ppfx. I forgot about that. Sorry buddy.

I was looking for the 111.00 to act as Support , since Price broke and closed above Resistance. But now that Price closed below the 111.00, it looks like its back to Resistance.

Quote:
Originally Posted by ppfx View Post
I re-entered the trade cause i saw that there is a good possibility that the previous 'support' (was a resistance in majority) has turned into resistance. Seems like i was right. I closed part of the trade and put stops to BE. Now lets see if we can get to 110

Attachment 595618


Nice trade. The 111.70 looks alot strong that the 111.00
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  #82102  
Old Dec 10, 2010 4:13am
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Quote:
Originally Posted by Pinbar View Post
Hey Adi, that is not a trade recommendation or anything, just something to keep an eye on.

I think the H4 PB was nice but it probably just hit its FTA.



EDIT: I wonder if J16 would kindly give us his valued opinion on that AUD/NZD Daily PB?

That would really be great!
I don't like that the bearish PB is weak , meaning its close is not lower that its open.

I like your chart analysis here Pb ..

Quote:
Originally Posted by Pinbar View Post
So what are going to do with these two party poopers.

Analyze them with Jaroo's thing, of course. BRB.
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  #82107  
Old Dec 10, 2010 4:22am
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Yes, pretty happy with this trade. Took it on the retrace of the 30 min pinbar, with that weekly BEOB in mind of course.

/pat


Attachment 596040
Nice plund, that 30 min PB was much like a touch trade with PA confirmation.

The 4 Hour and Hourly also presented other PA opportunities . . .with of course, the same story which the Weekly BEOB was just a part of.
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  #82109  
Old Dec 10, 2010 4:27am
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Thanks Jarroo...

I was thinking on the PF in the videos, I had seen Jim take a PB like that under certain circumstances even though the close was not in the direction of the trade?

Thanks for the kind comments Jarroo, I am trying to eyeball the charts as J16 does in those videos and then draw only a couple of PPZ, the FTA and check them using your weekly TF method. Sort of combining the best of both worlds. I think this method suits me better.
This is true Pb about PB structures . . . . but what Jim says before those PBs is more important . . ""see Support . .see Resistance . .see Support right here . . .see Resistance . .etc."
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  #82111  
Old Dec 10, 2010 4:32am
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Ok, I hear you.

So, if there was not such strong support at that area, it would be ok to take such a PB? Then again, isn't the support one of the reasons that created the PB? Maybe, I am thinking too much.
Yes your thinking too much.

"So, if there was not such strong support at that area, it would not be ok to take such a PB". . .in the case of a Bullish PB.

Give me a chart example to better explain . . .charts tell a better story.
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  #82113  
Old Dec 10, 2010 4:42am
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Right Squire,,I think I need more medicine.


Thanks Jaroo, I take that as it NEVER ok to take a PB that the close is not in the direction of the trade.

I think the doctor told you to break the pill in half before you take it . .not the whole thing.. lol (jk)


If your a picky trader, Pb, yes that would work .

You are a picky trader, Pb . .aren't you???
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  #82115  
Old Dec 10, 2010 4:47am
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Originally Posted by Pinbar View Post
I shall learn to become one with patience, ASAP.

The classic contradiction. LoL
That was a Pb classic.

Patience can be practised too, Pb. It just takes some time.
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  #82116  
Old Dec 10, 2010 4:49am
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Originally Posted by Kalbar View Post
Hi jarroo

Just wanted to ask about the US/CHF daily pin. On my feed there are a couple of large bullish bars just before the pin which made me a bit wary. Do these bars make this less than an A setup?

kal

I see Kalbar. Where are your PPZ levels on that chart?
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  #82119  
Old Dec 10, 2010 4:55am
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Originally Posted by ppfx View Post
IMHO is better to tell someone twice about something than none. And this way the new users also read it and learned something new.



Thanks. Yes, if you look at my weekly chart it looks like a support for the consolidation box.

Anyway my other part of the trade ended up at BE. Now it seems like its going up again. At least fo a few pips. We have a nice PB forming on the h1, and its just off a s/r area.

Attachment 596068
The Weekly close below the 111.00 will be telling. I could indicate more down movement . .we shall see.
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  #82120  
Old Dec 10, 2010 5:05am
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Originally Posted by ppfx View Post
LoL. Im already in this trade. I decided not to wait since yesterday 'the closes' on EJ deprived me of a nice entry. Will see what will happen.

Attachment 596070 Attachment 596071

Looks like its flipping over ppfx. . . from Resitsance to Support. . .1.5836ish level
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  #82126  
Old Dec 10, 2010 5:15am
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Originally Posted by james16 View Post
as that mighty man jarro once said.

"A quality set up is almost always a high momentum set up? (or something like that) lol

lol . .that quote was inspired from somewhere . .big guy.

Will the 1.5823 hold (on your chart) . .?
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  #82128  
Old Dec 10, 2010 5:19am
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Originally Posted by Kalbar View Post
Jarroo

My ppz are pale blue lines with the arrows - def a bit of space for trade but size of previous bullish bars put me off compared with the size of the pin. Having said that I am still getting to grips with my ppz and hoping to learn a lot from your expertise.

kal

hang on kalbar . .I'll be right back . .
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  #82131  
Old Dec 10, 2010 5:24am
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Originally Posted by james16 View Post
im holding stop behind trendline on this one. some off the table.

jim

Looking for the trendline to hold, I see.

no close below the 1.5823 ..
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  #82136  
Old Dec 10, 2010 5:31am
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Originally Posted by jarroo View Post
Looking for the trendline to hold, I see.

no close below the 1.5823 ..
Still no close below . .
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  #82145  
Old Dec 10, 2010 5:48am
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Still no close below . .
Still no close below the 1.5823.
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  #82153  
Old Dec 10, 2010 5:57am
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Originally Posted by james16 View Post
neat aint it?
It was an "Ah-Moment" for me Jim . . Thanks to you

I was watching one of your videos for hundredth time . . . when it hit me . .I couldn't sleep for days . . lol . .

Then I calmed down and I've been smiling like the butcher's dog ever since . .
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  #82155  
Old Dec 10, 2010 6:00am
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Still no close below the 1.5823.
Still no close below . .
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  #82159  
Old Dec 10, 2010 6:03am
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hang on kalbar . .I'll be right back . .
I haven't forgot you kalbar
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  #82160  
Old Dec 10, 2010 6:05am
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Lol. My old eyes didnt look close enough. Looks just like ted circa 1976.

Fooled me too . . lol
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  #82162  
Old Dec 10, 2010 6:57am
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Originally Posted by Kalbar View Post
Jarroo

My ppz are pale blue lines with the arrows - def a bit of space for trade but size of previous bullish bars put me off compared with the size of the pin. Having said that I am still getting to grips with my ppz and hoping to learn a lot from your expertise.

kal

Sorry for the delay. . .

You are correct Kalbar, I would not consider this PB on the Daily Usd/Chf an A+ setup. Its not that big . . its at a bit of a swing high but not open enough to give it some Space, etc. But the story was "A" quality to me.

The yellow box of consolidation aided in the story to this PB. (See more info on boxes from Mike (mbqb11).

Also the Weekly BEOB, trading with the trend , and at a 50% ret level (no shown) added confluence to this story.

Hopefully this chart helps.

Your PPZ levels look good, Kalbar. Ive add other comments about PPZ levels to the chart to help you fine tune them.

Jim
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  #82167  
Old Dec 10, 2010 7:22am
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Originally Posted by ghous View Post
Surprisingly the close wasn't a crucial requirement for good IPBs in my book back when I first shared the idea here. Over time I too realized how important the close was. Furthermore I see the idea applies to regular pin bars as well, ones with a strong close have so much more to Them than when they "merely just close within the prior bar"

g.
That's a good point g. . . about regular PBs. . .and about any PA formation's close to show weakness or strength.

That's what is so brillient about the IPB's entry at the close . . then throw it the inherent tight stop loss placement and its perfect.

I don't care when others say its just a gravestone doji or hangman whatever . .you showed the structure of them and . .more importantly . .where to trade them and how to mangement them . .

Your a genuis . .g. Its that what the "g" stands for . .
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  #82168  
Old Dec 10, 2010 7:27am
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Originally Posted by Pinbar View Post
Who the hell is Ted Circa, anyway?

Ted Nugent . circa 1976

circa means : about, appromimately
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  #82169  
Old Dec 10, 2010 7:31am
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Originally Posted by ppfx View Post
Now i know why. The master James entered a trade.
Weekly close above that level would be nice.
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  #82172  
Old Dec 10, 2010 7:53am
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Yes it would. Then we would certainly see the 1.600 next week.

I would like it chances if it did ppfx. A good Support level to bounce from.
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  #82279  
Old Dec 12, 2010 11:45am
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Originally Posted by Pinbar View Post
I take it that area is the TL?


Quote:
Originally Posted by jarroo View Post
lol . .that quote was inspired from somewhere . .big guy.

Will the 1.5823 hold (on your chart) . .?
Quote:
Originally Posted by jarroo View Post
Still no close below . .
Hey Pb.

That wasn't the trendline area I was talking about. It was previous Resistance that Price broke through.

When I asked, "Will Price hold at 1.5823?" I was looking for Price to keep closing above the 1.5823 to "hold" as Support, which it did . . . for awhile.

(charts)
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  #82281  
Old Dec 12, 2010 12:30pm
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Originally Posted by Pinbar View Post
Jarroo,

I looked back through my notes on those videos of J16 and found I had made a NB memo on that Long PB that had the close below the open.
It was EUR/USD Daily Jan 07 2007.

It is now clear why that was an ok trade.

Wow, making notes of important things & dates really help when watching videos.


EDIT:
I think it stuck in my memory because he said, (the close is outside the eye but it is ok to trade those folks)

This morning I am feeling much better and look forward to a full day of practicing eyeballing charts J16 style and finding...

Glad your feeling better, Pb.

Yes, you nailed it. It was the mutliple confluences that were present at that PPZ level or where Price turned from Resistance to Support.

It those confluences weren't present at that PPZ level, that weakly closed PB would have no relevance. It was the strength of its location (PPZ level with multiple supporting confluences) that made that trade possible.

Side note: Interesting how that 1.3300 is still playing a strong role today. . .
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  #82282  
Old Dec 12, 2010 12:48pm
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Originally Posted by aserbfx View Post
the buob did her job.
and now orcl is very close to the 30 usd...

Nice charts asberb.

Any followup on Palladium?
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  #82283  
Old Dec 12, 2010 12:59pm
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Originally Posted by Greenhaze View Post
I was eyeballing this one for a long time and missed the pullback on the daily timeframe becouse i am a retard .This monthly setup is a beauty and in this case i would rather play the double low breakout or the beob on the weekly tf. The spread is high so i wont go under the daily but will watch them to get in the move with tighter stop.

That was nice on the Daily. . . wow
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  #82284  
Old Dec 12, 2010 1:00pm
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Hi Jarroo
Your posts on trading TFs independently and yet knowing what't happening on higher TFs was really excellent.
Have a nice weekend
Thanks
D
Thanks damien.
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  #82285  
Old Dec 12, 2010 1:10pm
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Originally Posted by HanSolo View Post
I23B on weekly EURCHF. First time a weekly bar closed below the BRN. Also notice the low at the end of june that may very well act as resistance now.
I wonder if this would be a viable setup for an experienced IB trader. Or are IBs not that reliable at the end of the year? Any comments very appreciated.

Dan Gilbert alert . .
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  #82320  
Old Dec 13, 2010 3:20am
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Originally Posted by Pinbar View Post
Just going through all my notes on James 16 videos and I found an interesting one on AUD/USD July 2008.

He was talking about boxes and how they make up our PPZ.

Great charts Pb .. .
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  #82323  
Old Dec 13, 2010 3:38am
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Originally Posted by aserbfx View Post
sure...

Thanks aserb.

Looks like that PB hit its target . .no surprise there.

I still would have liked the head of that PB more at the Support level off the BRN, 700.

It still may happen . .
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  #82325  
Old Dec 13, 2010 4:02am
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Quote:
Originally Posted by HanSolo View Post
I'm not familiar with his trading yet. But I will surely have a look at it. Thanks for the hint, Jarroo.

Quote:
Originally Posted by ppfx View Post
IBs are his specialty. In case you're interested to know more, here is one of his post out of many:link and here is jarroo's thread related to IBs: link

Sorry about that Hans and thanks ppfx for the info.


Dan Gilbert (username) and others have noticed this interesting setup where an I4B or I4+B (more than 4 bars) occurring at BRNs can provide a robust move.

It combines the I4B, that James16 talks about, and the importance of the BRNs that Mike has show throughout this thread.

They don't occurr often but when they do, its something to keep an eye on . .
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  #82326  
Old Dec 13, 2010 4:32am
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Hey Mike Thanks to you for your reply. But this reply has put some doubts in my mind. Would you consider the levels in my chart as whipsaws or just part of boxes. Mike, Jaroo, Ghous, SC and all seniors please tell me how you view these levels.

I don't consider this a whipsaw move . .its simply Price turning from Support to Resistance.

Its a good example of how the Weekly time frame can be a good starting point to start a story.

On the Weekly, over many weeks, we have Price unable to close below the 1.6000 BRN. Price has broken through the 1.6000 on the Weekly but failed to close below.

Price then closes below on the Weekly and we look for the 1.6000 to act as Resistance.

Lower time frame opportunites are there once we confirm the close below on the weekly . . like touch trades, if the story or multiple confluences support it or looking for quality bearish PA to confirm Resistance.
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  #82327  
Old Dec 13, 2010 4:35am
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I don't consider this a whipsaw move . .its simply Price turning from Support to Resistance.

Its a good example of how the Weekly time frame can be a good starting point to start a story.

On the Weekly, over many weeks, we have Price unable to close below the 1.6000 BRN. Price has broken through the 1.6000 on the Weekly but failed to close below.

Price then closes below on the Weekly and we look for the 1.6000 to act as Resistance.

Lower time frame opportunites are there once we confirm the close below on the weekly . . like touch trades,...

We can talk about the situation in blue, where Price closed below the 1.6000 on the Weekly. . .Or simply apply the above outline.
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  #82329  
Old Dec 13, 2010 4:49am
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Hi Jarroo

Like the visual look of your charts so just wanted to ask what chart package/broker you use?

thanks

kal

I use 4 to 5 meta trader demos for charting . .Fxpro, IBFX, Alpari, FXCM, Broco, etc.

I use a few brokers . .Fx Solutions, MB trading, Oanda.
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  #82330  
Old Dec 13, 2010 5:03am
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Jarroo

Thanks for your post on Friday rearding the plotting of PPZ - an area I need to work on. Will be concentrating on that this week and thanks for your advice, much appreciated although I suspect there will be more questions for you soon!!

Sure thing Kalbar . . .
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  #82346  
Old Dec 13, 2010 9:23am
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Usd/Chf daily PB update. 1st target hit.

2nd target hit.
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  #82349  
Old Dec 13, 2010 9:37am
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Originally Posted by xmzhang View Post
True, support lies in the 13170-13200 zone, but it al depends on ones trading objective/intention. As this is a countertrend trade, my objective is to take a quick profit at the mentioned support zone, I need some pocket money I already closed 1/2 of my position and hope to close my remaining position at 13200-ish, if guppy gets there ....... I also sold U-J for the same purpose, entry off the 10m-TF via a BEOB @ previous 4H-bar low, final target @ 8375-ish ......

I see your liking the previous bar Highs/Lows of Outside Bars, xmz . .very nice.

I caught that one too . .Usd/Jpy 4 Hour BEOB, previous bar Low.

The weekly has been telling this story for some time now. . .
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  #82352  
Old Dec 13, 2010 9:46am
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Originally Posted by Pinbar View Post
Thanks but, they are reconstructed J16 charts.

That is why they are GREAT, for SURE.

I think James16 has totally rewired his mind and he actually sees charts like that, you know like a composer can hear the notes from just looking at the score.

The Big Guy is something else for sure.

That's true . . but you added where Price closes above or below . . . that is key, my friend.
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  #82354  
Old Dec 13, 2010 9:49am
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Originally Posted by ghous View Post
Jarroo at work?...hmm...Yummy treat!



g.

I managed this one old school style . . like an "A+" setup . .working out nicely.
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  #82356  
Old Dec 13, 2010 10:03am
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Originally Posted by xmzhang View Post
Thanx J, I always forget to watch the weekly TF before I enter a trade, in the U-J this would have added more confidence to the trade

BTW, it's xmz

Ooops sorry about that xmz . . lol


The weekly can add a lot of confidence to a lower TF setup, as you well know, xmz.

I sure you could have found something on the lower TFs with this BUOB on the Weekly Chf/Jpy. ..
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  #82360  
Old Dec 13, 2010 10:16am
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Something to watch on the Eur/Gbp

Let me know how it goes guys . .

gotta go.

Later

Jim
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  #82362  
Old Dec 13, 2010 10:17am
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Quote:
Originally Posted by Osman View Post
Excellent examples Jaroo !!

Thanks Os . .simple stuff . .


Later
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  #82392  
Old Dec 13, 2010 6:52pm
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Quote:
Originally Posted by xmzhang View Post
Are you referring to my post about the C-J of two weeks ago ? Yes, I was looking for a buy PA on the lower TF to enter that weekly BUOB, but price didn't gave me a clear PA for quite some time so I lost interest, I don't want to wait that long for a entry ....... maybe I should be more patient

Yeah, we might have talked about the Weekly BUOB on the Chf/Jpy some time back. Price had been bounce off the previous bar high (no bar closed below it on the weekly) for some time.

The Chf/Jpy can be a very spiky pair on the lower TFs. Pairs like this, it is always better to work off the Weekly and/or Daily TFs to smooth out the edges . .also the Weekly looks like a 4 Hour chart to me.

BUOB hit its target. Would have liked to have had a Daily close above that 86.50. Price may retrace to the 85.00 BRN to test it as Support.
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  #82393  
Old Dec 13, 2010 7:02pm
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Where's that Donkey chart on the Usd/Chf .. .here it is . .you nailed it, brother ..


Quote:
Originally Posted by Donkey View Post
I'll give it a shot...
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  #82408  
Old Dec 13, 2010 11:35pm
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Quote:
Originally Posted by Pinbar View Post
Do we have a nice Ghous bar on GBP/CAD Daily?

Broke out low of the massive consolidation area it was in and gives us a PB stopping dead on the 1.6000 & the 50 fibo.


The weekly chart is a little confusing, maybe Jarroo could explain his thoughts on this.

I talked about this one earlier Pb.

Quote:
Originally Posted by jarroo View Post
I don't consider this a whipsaw move . .its simply Price turning from Support to Resistance.

Its a good example of how the Weekly time frame can be a good starting point to start a story.

On the Weekly, over many weeks, we have Price unable to close below the 1.6000 BRN. Price has broken through the 1.6000 on the Weekly but failed to close below.

Price then closes below on the Weekly and we look for the 1.6000 to act as Resistance.

Lower time frame opportunites are there once we confirm the close below on the weekly . . like touch trades,...

Price could break through the 1.6 and find Support from previous Resistance. A Daily close above would help confirm that possibility.
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  #82409  
Old Dec 13, 2010 11:57pm
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Quote:
Originally Posted by Donkey View Post
Hi jarroo. Could you share your stop progression on this trade? I demo'd and got my stop knicked out on the Sunday open by a few pips for a -0.26R.

I think I'm getting better at identifying entries, but seem to be having some trouble managing once in it.

My logic - I moved stop slightly early in the trade to remove some risk. When the Friday bar didn't close below the resistance at .9800, I tightened my stop up quite a bit, too much in hindsight.

I'm thinking of adding a rule when trailing stops to always give the RNs (100's and 50s) about...

Hey d.

Mike's 2 bar trailing stop would have worked very well on this one.

I liked this one a lot mainly because it was off the Weekly BEOB's previous bar Low.

I mainly waited for the bars to close on the Daily (setup was on the Daily)to show me where to place my stop as they relate to the PPZ levels.

I see your logic with the bar not closing below the .9800 (Support) but it did close below the .9850 level (Resistance).

There were also some nice opportunities on the 4 hour that I took advantage of . . again waiting for the 4 hour bar to close (setup was on the 4 hour) to make my decisions.

Currently my stop is above the .9750. I don't want to see a Daily close above the .9725. Some of my 4 Hour trades are closed out completely


Hope this helps.

Jim
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  #82475  
Old Dec 14, 2010 4:25pm
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Quote:
Originally Posted by HanSolo View Post
I23B on weekly EURCHF. First time a weekly bar closed below the BRN. Also notice the low at the end of june that may very well act as resistance now.
I wonder if this would be a viable setup for an experienced IB trader. Or are IBs not that reliable at the end of the year? Any comments very appreciated.
Quote:
Originally Posted by jarroo View Post
Sorry about that Hans and thanks ppfx for the info.


Dan Gilbert (username) and others have noticed this interesting setup where an I4B or I4+B (more than 4 bars) occurring at BRNs can provide a robust move.

It combines the I4B, that James16 talks about, and the importance of the BRNs that Mike has show throughout this thread.

They don't occurr often but when they do, its something to keep an eye on . .

There you go Hans. The I4+B (I23B) on the Weekly Eur/Chf.

This one shows the beauty of this setup, meaning how the I4B is aligned with a BRN, 130.00.

The stop loss placement, like with all IBs, is at the opposite end of the I4B. But you can gauge the setup by how Price reacts to the BRN. In this case, the 130.00 acted as Resistance. You can see on the Daily, no bar closed above the 130.00.


Ideally we would like to see them break hard and never look back, but this one came close and made sense why it did, what it did.
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  #82478  
Old Dec 14, 2010 4:51pm
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Quote:
Originally Posted by Osman View Post
Jarroo BEOB retracement on 4hr

We had a BEOB on G/CAD
  • Engulfing 3 previous bar
  • Rejection of the 1.60 level
  • 150 ema above
  • 50fib of the previous down move..rite in line with the 1.60 area
  • Kinda triple top off the 1.60 area
  • Divergence
Also we have been in a kinda box for a few days, thats why im already at B/E

We can see the candle after the beob went to retouch the lows of the engulfed bars (red line), thats a Jaroo retracement

Os.
Beau . .ti . . .ful . . Look at all those confluences . . nice.

I would also add the confluence that the Daily and Weekly bar(s) did not close above the 1.6000.


Now can you imagine Os, that you will only take setups that are just like this one. . . meaning exactly like this one. . .not one or two confluences but all of them combined that you have here.

If you do . .welcome to the trader's world of pickiness.
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  #82488  
Old Dec 14, 2010 8:19pm
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Quote:
Originally Posted by mbqb11 View Post
For sure. It may not be very fancy but it gets the job done.
lol. . . .add more Space and Size sure would pretty it up . .for sure Mike.
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  #82489  
Old Dec 14, 2010 8:20pm
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Quote:
Originally Posted by Donkey View Post
Thanks a ton jarroo. Helps tremendously as always.

Cool . .d.
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  #82490  
Old Dec 14, 2010 8:30pm
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Quote:
Originally Posted by jarroo View Post
Yeah, we might have talked about the Weekly BUOB on the Chf/Jpy some time back. Price had been bounce off the previous bar high (no bar closed below it on the weekly) for some time.

The Chf/Jpy can be a very spiky pair on the lower TFs. Pairs like these, it is always better to work off the Weekly and/or Daily TFs to smooth out the edges . .also the Weekly looks like a 4 Hour chart to me.

BUOB hit its target. Would have liked to have had a Daily close above that 86.50. Price may retrace to the 85.00 BRN to test it as Support.

Time to move the stop loss to just under the 86.50.
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