Yeah, and as GB said, it appears to me to work somewhat similarly to pin bars as they signal a reversal off a S/R level. Actually, my very first trade (and a win) was off a DBLHC : url

james16 Chart Thread

Thanks guys! @Courtney: and I'm Gerard. I have shared a couple of my first setups and outcomes some pages back. Here's a new one: USD/CAD price broke above resistance at 1.2560 and formed an inside bar PA with the 3rd bar being bullish, and ...

james16 Chart Thread

This is hilarious! That's one way of looking at it I'm about 2 weeks into demo trading after reading through this thread. I must say patience and discipline is so important. Scan charts and if nothing jumps out, it's best to close it for the day ...

james16 Chart Thread

Looks like a bearish pin bar formed on 2nd July rejecting the PPZ area around 123.75 and the bearish trend line drawn from the high of 5th June. My gut feel is that price will move downwards again in the short term. Maybe you should lock in your ...

james16 Chart Thread

Third trade of my demo account: USD/CAD BUOVB on 29th June formed off 38% Fib ret of the recent swing low, breaking above the 61% Fib ret and the support/resistance area around 1.2400 (confluence), signalling that the upward trend started by the pin ...

james16 Chart Thread

I also saw this and took the same trade as my second ever demo trade. Entered at the break of the BEOVB but silly trade management plus stupidly placing a stop that was too tight caused me to lose the trade. Lessons on trade management learned. :S

james16 Chart Thread

Interesting that Oanda has no gaps. I'm demo-ing using FXCM's Trading Station and they show the gaps too. On another topic: I'm wondering if the J16 PF is still running and taking new subscribers? Also, does anyone know what's happening with the new ...

james16 Chart Thread

Thanks Guitarbloke. Agreed that it is moving into a s/r level, which is a much lower probability trade. I'm also happy to sit out on this one and watch how it plays out as a live learning process.

james16 Chart Thread

Looks like a BUOB on USD/CAD daily signalling potential continuation of the upward trend started by the pin bar on June 18th, but running it's into a trouble area where it was a previous support for quite a number of days and it almost matches the ...

james16 Chart Thread

Thanks guys! I set my initial stop loss at the bottom of the dblhc. In hindsight, I guess it was a pretty big stop loss. I did position size my trade so that if my trade gets stopped, it would have been the 2% risk that I determined as my risk ...

james16 Chart Thread

Hi all I'm new to Forex and stumbled across this thread. I have been interested in Forex for a few years but lack of funds and knowledge, despite reading up on things here and there over the years, I was still relatively clueless. Opened a demo and ...

james16 Chart Thread