Mike, it's not a perfect pennant pattern but it's a good one nonetheless. If it breaks upward, often price will move up about the same distance as the "pole." That's my experience with shares anyway.

james16 Chart Thread

Yes Al. If you look at the bars on ANY chart/pair, you will find approximately 17 out of 20 will retrace some of the previous bar. Getting a better entry (on the retrace) means less draw-down but more importantly more profit! I understand not all ...

james16 Chart Thread

Morning GB, How's the weather looking for the weekend? Bit gloomy here in South East Q. NZD/USD moved nicely for me overnight. With about 10 minutes left in the week i closed out about 10 pips shy of my original TP. Happy. What will it do next ...

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Hey there patapouer, Thanks for the kind words. Hope these changes you have made lately are helping BOTH your bank balance and your psychology As Lamer Trader wisely points out, psychology is the most crucial factor for long term success so that ...

james16 Chart Thread

Ok Dave, all good. Me thinks you were a raw beginner. 1 trade for the day so far. This one i traded exactly the same way less than 48 hours ago. NZD/USD, bounce downward off a solid and proven T/L. My issue is the nice BUOB preceeding it and the bar ...

james16 Chart Thread

Hi Davey, I don't know if a price pivot zone (PPZ) indicator exists, i very much doubt it, but the good news is you don't need one. They're easy to spot. If you can't spot one then it probably means it's not one - or at least it's a weak/unreliable ...

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Ah ok, thanks. Great trading!

james16 Chart Thread

Hi Capital, Do you not use stop losses? Bill

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Another one. NZD/USD. Sell order bouncing off long running trendline. TP just above 0.6600 which is near middle of channel and also the next PPZ area. Heading the right way at the minute!

james16 Chart Thread

Been a bit quiet the last day (for me at least). 2 trades entered a few hours ago. Double exposure to the CAD!! CAD/SGD & CAD/JPY - both trades preeeety much identical, BEOB's with PPZ's and RN's at my back (SGD has the 1.0000 BRN in fact). SGD ...

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Thanks Poinson 2nd and last trade for the day. Usd/Cad D1 Beob with ppz and 1.4000 at my back. First trouble area is 1.39000 but i'm aiming for the 1.38000 area. Off to bed shortly, have a great day/night Update: Trailing stop hit for small ...

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@G-man, nice trade! Battle of the giants. PPZ versus steep current trend. And the winner is.......... PPZ will win the first bout as price will bounce to BRN of 1.0000 (which is also around the middle of the box). Disclaimer: I haven't got a CLUE if ...

james16 Chart Thread

So i think the EUR/GBP has reached an historically important area/PPZ. Let price action lead the way...

james16 Chart Thread

Thanks GB. Umm, "raawkin it"? - is that a Muso term. If it is, i will have to learn the lingo before i finish my Drums apprenticeship! And shorting Gold? I know you're only mucking around but umm, NO! lol. Well not yet at least as it has reached the ...

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Hey there G-man. Yes 4 trades and i have woken up just now to see they all went to TP. Happy days. As for Gold, the main signal was the very BIG engulfing 8h BUOB (2 x 4h combined). The bar preceeding this was a decent size BEOB but the 8h then said ...

james16 Chart Thread

Four trades today (to many i know)!! All BE after nice retraces coming off ppz's or t/l's.

james16 Chart Thread

Understood. Go get some sleep!

james16 Chart Thread

Thanks for the response Mike. Thanks so much for doing a Vid on this and i look forward to watching it later today There's defo some issues with this PB, not a good trade! However where the next bar got to (your FTA) was about 20+ pips below the ...

james16 Chart Thread

Hey Mike. I'm currently learning about PB's and this one was on my watchlist today. You have said a few things here that confuse me so if you could explain when you have the time please: 1. When you say it reached the FTA, are you talking about the ...

james16 Chart Thread

Hi ramzam. I do loosely use 25EMA and MACD but the reason i'm not into indicators generally is that just about all the ones i know of lag behind the moving market. By the time a signal has been produced by an indicator, usually the market has ...

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