Trade 007 — USDCHF Sell @ 1.2058 | SL 1.2082 | TP 1.2010 Rationale: This is a 1HR chart trade. Price has reached upper R and turned down, and a BEB has just formed. For this type of trade price action alone is not enough to convince me, so I ...

Josh's Journal (JoshDance)

On the daily you mean, I guess? Yes it's right at zero now, but that's the thing about indicators as well as price... you never know what will happen in the next [whatever time period]. People talk about patterns forming, but until they've formed, ...

james16 Chart Thread

Trade 006 — GBPJPY Sell @ 249.66 | SL 249.95 Rationale: Same as for Trade 005 above. Progress: 6:35 - moved SL down to 249.75 7:03 - moved SL down to 249.65 ... free trade now 7:13 - closed trade at 249.59, did not like BUB on 5min Result: +6 ...

Josh's Journal (JoshDance)

Trade 005 — EURJPY Sell @ 168.06 | SL 168.25 Rationale: Thanks to Mike and all the others at the james16 thread for bringing this to my attention. All the JPY pairs gapped up over the weekend, and price is looking to fill the gap. Managing ...

Josh's Journal (JoshDance)

Trade 004 — EURAUD Sell Stop @ 1.5705 | SL 1.5750 | TP 1.5520 Rationale: 4HR pinbar Progress: 7/23 3:00PM - Moved stop to 1.5660, locked in 44 pips profit

Josh's Journal (JoshDance)

Maybe you didn't detect my tiny bit of sarcasm, sorry ;-) At any rate, I have seen EW analysis fail time after time, and while it looks great in retrospect, in real time it's as useless as a crystal ball, IMO. But having said that, if it works for ...

EURUSD

Uh, maybe this would be more appropriate for a private message?

Jacko's Forex House of Pleasure and Pain

Well, I wouldn't take it, because I haven't seen anything to indicate a move up for this pair. Also, I have a SR line drawn at 1.0545 that is too close to the current price to give me much of an incentive. If you do take the trade, you might ...

james16 Chart Thread

I'm taking this short for sure. Pretty big SL, but then again it's gbpchf, so what should we expect eh?

james16 Chart Thread

mimas, as goodtiding replied, these two bars are just a representation of buying pressure, followed by selling pressure, whether it's 4 hrs, 8 hrs, or 2 months. BUB + BEB (of equal size) ~= PINBAR

james16 Chart Thread

Good to know you can predict the future! Will you trade my account for me? :-) Did you draw that EW analysis as it happened, and not after the fact, or did you count the waves after they had formed?

EURUSD

I was under the impression that the range was down for EU because other pairs have been gaining popularity among traders and investors (carry trades and such included). GBP range is down too as well.

EURUSD

Trade 003 — GBPCHF Sell Stop @ 2.4635 | SL 2.4770 | TP 2.4340 Rationale: Daily PB This trade is against a recent weekly PB in the opposite direction, and last week's bar was a BUB, but it hit upper R, and to me it's a good setup for a move ...

Josh's Journal (JoshDance)

Because there was a huge all-time high price level there that I wasn't really comfortable trading into. Maybe it would break it, but I was not feeling good about it.

Josh's Journal (JoshDance)

Yes it is an 8-hr pinbar, but unfortunately it's going against a strong down trend.

james16 Chart Thread

Yes, unfortunately though this one dropped almost 100 pips before going up, so many of us (myself included no doubt) would have been faked out and lost some money here :-/

james16 Chart Thread

Trade 002 — GBPUSD Sell Stop @ 2.0459, SL 2.0544, TP 2.0377 Rationale: Daily IB Trade result: Cancelled, due to price break the other way

Josh's Journal (JoshDance)

Trade 001 — USDJPY Buy Stop @ 122.37, SL 122.05, TP 123.34, Position 0.17 lots Rationale: Daily I4B, break above upper TL. Trade Result: -32 pips

Josh's Journal (JoshDance)

On a typical 1H chart, a new bar forms every hour, whether tons of trades were placed that hour, or if it was very light volume, like on a Friday afternoon. On tick charts, you can specify that a new bar be formed when a certain number of ticks goes ...

james16 Chart Thread