4 hour pinbar at top

Silent Service Method

I wanted to post a move I made in my stops on the EUR/JPY short. I am now going to lock in 200 pips. The chart shows what caught my attention. I have a couple of long days ahead, (work wise) so I won't be paying to much attention during long ...

Silent Service Method

You got in at the bottom of a large "zone" as I see it. You were going against the trend, so the odds are not in your favor. Above that top line on your chart would have been a better place.

Silent Service Method

51 area might offer a bit of resistance first

Silent Service Method

Exactly. Risk the same standard percentage you normally do. It might make the pip value small, but then again - on the weekly you are aiming for larger amounts of pips anyways. It's all the same, just a little slower is all.

Silent Service Method

I treat that area as a big zone.....and while it's large, that's why it's going to have a hard time going up.....but going down is easier, more likely because of the trend. This is why I went short.

Silent Service Method

It's the same set up as EURJPY essentially.

Silent Service Method

Yes, IBM and T are looking about the same.

Silent Service Method

I am posting this set of charts in hopes of explaining my exit strategy for a TREND TRADE. This is only used when trading with the overall trend defined on the weekly chart.

Silent Service Method

If you go back, there is a series of charts showing how I move stops behind "areas" on the 4 hour.

Silent Service Method

I don't know. Can you post a chart and tell me exactly what you did?

Silent Service Method

The trade isn't void until the stop is taken out, period. Outside bars should be outside the entire bar previous. You like to see it close near the top in the case of bullish.....bottom in bearish.

james16 Chart Thread

Because he is practicing in a realistic manner. This will help him when he goes live. Very smart to be honest. Think of it this way: WHY do you think brokers give you a free 100k demo? Hmmmm......

james16 Chart Thread

If you know what you are looking at, it makes no difference. Steve Nison made a killing trying to sell this idea. Truth is, I started out with candlesticks. I use bars now.

james16 Chart Thread

Feb2865 BillyRayValentine These are my favorites. I include James16 as well, but with the disclaimer that I am a Senior Member.....in the interest of being impartial I don't include any of the J16 traders......

Forex Factory Hall Of Fame

Technical Analysis Fallacy thread. It's like some kind of cult for a guy who speaks like a fortune cookie. Always talking about "GBP is ready to dance" and other nonsense like that. I love those people, they give me money all the time!

What happens in the real world to cause movements?

I won't be looking too hard at lower time frames on this one. I have found that weekly pins....in general, tend to signal a serious move. (We will see.)

Silent Service Method

As far as I am concerned, I am not worried about 4 hour s/r areas on this trade. It's in too important of an area. I will use them to place stops behind, but that's about it.

Silent Service Method

Funny, I just noticed we are over 100,000 views. I didn't think it would be that interesting. I had a small fear that people would be bored with the way I trade. I know it's not exciting, but I don't need more excitement in my life....I have two ...

Silent Service Method

Actually, I entered a little late on a 4 hour pinbar before that. I am short from 132.77 i this trade - giving me 252 pips at the moment. (My broker closes at 4 pm EST, so it could be a little off.) If I were to go short off the weekly pinbar, I ...

Silent Service Method