Yup thats what I usually do, locate S/R and try to link an RN to it. Hmm reducing my stop, never considered that before hahah. I'll backtest with it and see how it goes. Thanks Ghous!

james16 Chart Thread

Ahh okok. Thanks for the very detailed reply. Lots of good points in there. Another question though. I tend to treat every RN and/or BRN as a PPZ because at some point of time in the past, several bars would have reacted off that area. That means ...

james16 Chart Thread

sorry, chart didnt come out right.

james16 Chart Thread

Hey guys, Need your opinion on this BEOB that happened sometime back (July 2010) on the EUR/AUD. Price retraced after a downward move to form a big BEOB at swing high. Setup-wise, I thought it was very good. But i noticed it was trading into the ...

james16 Chart Thread

Hey Ghous and Mr Smith, Thanks for the clarification. In this case, what would be your conditions for trading continuation bars? I'm quite confused because in the many instances I back-tested with continuation bars that broke through important ppzs, ...

james16 Chart Thread

CADCHF problem — Hey guys, Not too sure why the pin below didnt work. Price broke 0.95 + ppz. Retraced to form a bearish pin which didnt really work out. Any idea why? Also, am i right to say that when looking for PA, it is better to look for ...

james16 Chart Thread

Fully understood. Didnt occur to me that if would have such a reaction especially in the lower tf. Will take note of it next time. Thanks!

james16 Chart Thread

Hey mistersimple, Don't think thats an idea pin to trade. Very small in size + its right in the middle of a consolidating market (you can see it starting from May 2010 till now)

james16 Chart Thread

Hey guys, Anyone tracking both of these pairs? Broke PPZ + Pin (assuming it stays this way) in favour of trend on retrace. But both of them are trading into round numbers and all time highs/lows though.

james16 Chart Thread

backtesting breakouts — Hey guys, Breakout trade on CHF/JPY during the July 2010 period that failed. Any reason why?

james16 Chart Thread

Ahh okok. The reason I considered it minor was because there were only a couple of bars that got rejected off it as compared to the 0.74. But i'll definitely keep a look out for areas like this next time and mark them off. Thanks again jarroo!

james16 Chart Thread

LOL sorry i saved the chart but forgot to upload it. Its almost the same as jarroo except I didnt really mark out the immediate traffic right below the break of that pin. I thought it would be of some minor obstruction but still expected price to ...

james16 Chart Thread

nzdusd pin — Hey guys, Was looking at the NZDUSD pin and would appreciate some comments on my thought process. -Nose could be longer -Pin got rejected off 0.7550 + ppz but not the 0.76 which would have been preferred personally - Closed weakly ...

james16 Chart Thread

Hey guys, Was looking at the EUR/USD and saw a break above the 1.38 and waited for a retracement back to that level for a bullish PA signal. Would you guys consider the pin that has formed on the H4 below a valid bullish signal?

james16 Chart Thread

Hey Scott, how many pips below 1.33 would you consider as a solid close?

james16 Chart Thread

Okok thanks for clarifying!

james16 Chart Thread

Hi Mike, Just to clarify. For the EUR/CHF BEOB, seeing that it closed below the 1.33, is the 1.33 where we would look for confluence? Or is it the top of the BEOB?

james16 Chart Thread

Yup fully agree that its coming off the 83. But from how i see it, its trading right into a bunch of bar highs from the consolidation on its direct left. Don't think there is a lot of room for this trade to move. FTA is around 83.45. Not worth the ...

james16 Chart Thread

Hey Lap, Newbie opinion. This may not be the most ideal of pinbars to take. The close is not within the low of the first eye. Its not at a swing low. Its in a bad location due to the consolidation.

james16 Chart Thread

question on SL — Hi guys, When do you usually move your SL to BE? I understand that different people have different approaches to this, but general speaking, will it be advisable to move SL to BE once the FTA has been hit and take 50% profit? ...

james16 Chart Thread