That's the key there. It helps us cut losses and let the runners run. If Jarroo's watching this pair (miss that guy) he probably traded the push up and the bounce down - couple of picture perfect levels for his method.

james16 Chart Thread

Lester - Thanks for the update on the trade, enjoying following your thought process. Love how you're enforcing IMO the 2 most important concepts - location and trade management/risk reduction. I always plan at least my first risk reduction move ...

james16 Chart Thread

I think you guys are seeing the same thing really. Lester traded a pinbar, which has gone the FTA (which is zone you marked). He reduced his risk by scaling out and moving his stop....basically putting himself in a risk free trade. If it goes up he ...

james16 Chart Thread

!!! USDCHF is thing of beauty....especially from a trade management perspective.

james16 Chart Thread

Rants and Charts....about 50% of the reason I joined the PF was watching that video. The other 50% was mbqb11's constant involvement here and his free content. His Space video (think it may be part of the guest section too) is one of the best. ...

james16 Chart Thread

Hello. That is not a pinbar. It is an inside bar - the bar's entire range is within the previous bar high and bar low. IB's are very tough to play in my opinion.

james16 Chart Thread

GBPJPY has a beautiful weekly ppz at BRN 180. image I've been patiently waiting on a test of 175 and we almost had it today. I think a close above that level makes 180ish a likely destination. I wouldn't mind seeing a break out like the scenario ...

james16 Chart Thread

Gotta be very careful with trendlines. I see the long term trends lines a little differently. image

james16 Chart Thread

Man I went to happy hour after work instead of scanning charts and missed that one. It is definitely a nice one. Just curious as to where your original stop was, under the low or left eye of the PB maybe? It's gone straight to FTA so anything more ...

james16 Chart Thread

No need for a chart from me.....with this beauty. I am currently sitting in a drawdown using the BRN as my reduced risk (slightly) loss. It has come within a couple of pips from getting stopped out over last few days. We'll see if Bears can ...

james16 Chart Thread

I can't post charts from this computer...I was saying sell the break of the daily BEOB from last week. I've seen and tested 3 entry methods for outside bars. 1) Break of the bar...most conservative and taught by Mike....and indicates the setup has ...

james16 Chart Thread

In the technical sense the BEOB itself has not failed for 2 reasons: 1) It never broke, or traded below the low, so it was never validated. 2) Also the high of the BEOB has not yet been taken out, so while in significant retrace or drawdown it is ...

james16 Chart Thread

Hi X. Thanks for the feedback. I rarely drop timeframes anymore and really only watch the daily candles. I did notice that level there at 0.8900 via the daily lows and was aware when I put my entry in. I felt at the time that the huge BEOB with a ...

james16 Chart Thread

Price did retrace, which isn't a surprise, to the previous bar lows. It managed to close below the top of the zone I was really watching and the BRN of 0.900 which gives me confidence to hold over weekend and see how it opens sunday evening. 20% of ...

james16 Chart Thread

Using bar highs/lows is certainly a valid way to reduce risk, and one that I use some. That said, I play a little looser with my stops and usually give more than a couple of pips above the bar high if I plan to stay in. When I backtested with forex ...

james16 Chart Thread

A Fudd dreaming about a Donkey.....something that only makes sense in a forex trading forum!!!! By the way, if you send me a link to the new site to preview, I want leak it!! I'm patiently waiting for the new site. Will James be activating the RE ...

james16 Chart Thread

Not Mike, but my bet is he was watching a BEOB form at the swing high, a classic J16 PA set up (my personal favorite). I watched it too and was looking for a close below the entire range of bars it was engulfing. It tested a BRN of 1.5000 which is ...

james16 Chart Thread

I'm in with a market order at the close...my targets are the gray boxes. My stop will be moved quickly to where yours currently is set. image

james16 Chart Thread

That's the bar I was kind of hoping to see. Your pattern is still good. FTA (short term target) middle of box, mid term target (bottom of box), long term target trendline...you going short??

james16 Chart Thread

You would be trading right back to a ppz at the BRN of 1.6000, so I would watch that close. The bar looks more bullish in my opinion, kind of like a B - C grade (my opinion only) wick play that Mike has mentioned in the thread. image

james16 Chart Thread