Best of luck PB !!!

james16 Chart Thread

Take care !! Stay safe !! Edit: 7.9 url

james16 Chart Thread

Thank you Mike.. This is a great lesson. Now I get it.. The first bar low disqualifies the setup for multibar low breakout.

james16 Chart Thread

Sorry Mike for all the questions. I want to make sure I can spot the gaps between these two setups. Chart you played last time.. also has two bounces to down. However the first bounce has 3 bars 2nd bounce has 2 bars So total 5 bars - high Current ...

james16 Chart Thread

What stopped you from playing this as a pure break-out ? Are you looking for one more bounce ? This one has only two bounces from the breakout level. Or do you play this on retrace if PA is formed at the breakout level ?

james16 Chart Thread

I was also considering this as a breakout pattern. Don't you consider the pattern is broken today ? Arrows are showing multi bar lows..Shadded area is the consolidation.

james16 Chart Thread

Thank you.. So you believe this does not really fit the criteria of multi highs or lows. How about attached USD/MXN, does this fit ?

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Thank you Atc. Makes sense.

james16 Chart Thread

Thank you Mike. Some follow up questions, if I may ask. 1) Since you are watching this break on Hrly timeframe, the only lower TF available to look for a PA is at 30 and 15 TF (10,5, 1M Tfs are too low, I believe), right ? 2) You are saying these ...

james16 Chart Thread

Mike, do you play this out as a pure break-out trade ? Since you generally play break-out with the trend, are you biased to take long ?

james16 Chart Thread

Ok. When you go for TT, how far away generally put your SL ?

james16 Chart Thread

Great !! Was it a touch trade with out PA but in consideration of all the confluence of PPZ, 61.8%, HCR, etc.. But what was your first target ?

james16 Chart Thread

Technically, yes. It is a PB but not something J16 members will trade it since PB is very very small. Small nose.. Strong uptrend..

james16 Chart Thread

USDTRY weekly PB — Many may not trade this pair since the spread is too high. However, it does not stop us analyzing setups. Pros: PB at swing high. Tested highs of the previous bars. PB off from PPZ. Broke 1.6 BRN. Size and shape is ok. FTA ...

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Thank you. I think I got it.

james16 Chart Thread

Sorry. I meant I4B or I3B.

james16 Chart Thread

How about IB on EURUSD at VBRN 1.4 ? Edit: Chart added

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You have them on FXpro ? I think they are not as leveraged as forex.

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Dan, what are these instuments ? Stocks ?

james16 Chart Thread

You are right. If the price closed above/below certain PPZ/SR/BRN bias in the direction of the close. or they are the best places to look for PA setups.. If you just refer last 10 to 15 pages, you will see many Jarroo's examples.

james16 Chart Thread