I did take this trade and probably got out a bit early at +100 pips. At the moment I am only trading 1 lots so don't have the option of letting 1 run. But as someone once said you will never go broke taking profits. In my experience, too many of the ...

james16 Chart Thread

Combine that with the fact its a 2 day PB off 2 fib levels I have around 1.1050 area and I think its worth a go. 38% retrace of move from 1.17 and 50% retrace of move from 0.90 to 1.30 (though I am not sure how strong this is as we already went ...

james16 Chart Thread

Thanks Ghous, all understood now.

james16 Chart Thread

Ghous, how do you play those? is it like any other PB, ie a break of the high low, in the case the low? Or do you tend to get in earlier?

james16 Chart Thread

Hi Jigsaw, looking at those charts, can you explain if you enter on break of the BUOB/BEOB as the loses and wins all seem to have a slight retrace and I am struggling to see why one is a win and one is a loss? The only thing I can think is if your ...

james16 Chart Thread

Agreed, I think its one that if you are in to run with a trail and watch that close PPZ. I guess every trade has a counter argument, I will probably take it if it breaks in the next 4 hrs but otherwise let it go. Verno

james16 Chart Thread

A few people have mentioned the double bottom on USDCAD around PPZ. Looking at the 8hrly we look like we now have a better looking PB. A break of the high would be a good buy signal as we also have divergence and a failure to make any new RSI lows ...

james16 Chart Thread

Jaroo I think that might also be one of those IPB bars that ghous (I think) talks about trading.

james16 Chart Thread

I am not in this anymore but looks like the J16 logic plays out again.

james16 Chart Thread

Long GBPUSD on break of PB and trading with the trend. It also validates the bar 3 days ago which wasn't quite a PB.

james16 Chart Thread

well there was a reaction to this level but not that significant. I was in and out pretty quickly on the short side. Mainly because I have let a couple of winners go back to BE recently.

james16 Chart Thread

This is actually a website called www.dailyfx.com I use the chartstation on it. I use this because I can access it from work and keep a chart in the background. The bad news is that it doesn't let you save charts and analysis so you have to keep a ...

james16 Chart Thread

Trying a ghous like blind order here. orange lines indicate PPZ and the solid blue line is the 38% retrace of move down from the high. trying a blind short. Lets see how it works. Small profit target.

james16 Chart Thread

Good points supreme

james16 Chart Thread

Good point, its amazing how selective the brain can be. I was only looking at the PB and hadn't really spotted the BUOB. I also think its clearer on the 4 hrly. Might tighten my stop slightly.

james16 Chart Thread

Just taken this short on USDCAD. Reasoning 2 pinbars at top of range, suggesting a false breakout. Also divergence on RSI. The PB on the 4 hrly isn't great and its against the trend, so I shall watch it carefully.

james16 Chart Thread

yep thats exactly what they mean, and usually with a bit of leeway. I think J16 suggest 10 pips. Depending on the timeframe you can reduce / expand this if you want.

james16 Chart Thread

Another question, is this PB still valid? The high was never broken until now. The low was but not significantly? I appreciate the location may not be fantastic and its a friday on a US holiday so I am not about to trade it, I just wanted to check ...

james16 Chart Thread

Ghous, do you use the re-test as confirmation for your trend as I assume from you subsequent response about blind entries that you enter on break of the pin rather the re-test? Just trying to understand what you get from the re-test. Thanks Verno

james16 Chart Thread

Hi Bob, thanks for the chart. Its interesting to see how traders finnese entries, particularly looking at the 2 touch support low risk entry. I think when people get good there are more opportunities that are low risk like these that can be traded.

james16 Chart Thread