The possibility that the market could gap and not respect your stop is a very real one as well. As you say, it needs to fit ones risk portfolio. Rico

james16 Chart Thread

That's the way I understand it too. Basically what you want to do is to trade into "space left of price" where price has room to go and doesn't easily run into zones of former consolidation, PPZ's or BN's. It also helps to confirm the PBT with a RT ...

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LCS/HCR — Am I correct to assume that when we look at a PPZ we then look for LCS and HCR and the space in between is the trouble area? When I draw a line for a PPZ (I assume PPZ marks the center of S/R) it is usually thin but by marking LCS ...

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Thanks for sharing, Now I understand what you mean. Lets see how it works out then.

james16 Chart Thread

Cool, thank you. Soo much to learn :-)

james16 Chart Thread

I see what you are saying. Thank you. What is a wedge by the way?

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Thank you Pinbar, you have a point. You think its a valid trade if I put the entry a few pips above the 7800?

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Inside Bar just formed on the 4h, I think I am getting ready to place my Buy Stop

james16 Chart Thread

Hey Timon, I think that the S/R levels are generally stronger on the higher time frames. The weekly will align with the monthly but give you some more. The daily align with the weekly but give you even more. So its like zooming into a picture and ...

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NZD/USD — The NZD/USD has just broken resistance and is moving into space. I'll wait for a closed candle above R/S, pullback and test of the new support or any other PA signal. Would that be a sensible trade?

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Thank you Tinny, great explanation. Sometimes its hard to see the right levels and I tend to draw too many lines, getting better though. You don't use the monthly s/r levels?

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Indicators — Gents, are you up to discuss Indicators a bit? What are you using if any? I am using the PositionSizeCalculator to help me with my mm in % and the Tick-Value Indi which shows me the spread conveniently on the chart. Other than ...

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I am born the very same year the Song was released.... does that mean I am under a bad sign? lol... just joking. At the very least it shows Chanya's age

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Newbie alert: Yes but a lot of noise around the 1.566. Not much room in my opinion.

james16 Chart Thread

Thank you, Yes, a few points I haven't taken into consideration. Most likely get out at small profit and wait for a clear breakout. Yes my mail, see you inside soon

james16 Chart Thread

USD/JPY — What you guys think about this setup? My assessment is: Nice strong S/R around the 79.72 (SL beyond that) Bearish inside Bar and bearish entry with the larger trend BUT against the short term trend. Once price gets back down I'll ...

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Thank you very much Mike, that puts the bar into perspective. Thanks for taking the time to explain. I'll certainly check out the video.

james16 Chart Thread

What you think about Gold? — Hello to all, my name is Rico and I am a tradeholic :-) Tried a few systems, took a course and read about 50 books. Actually I am a struggling trader and I am fairly new to PA but so far I like it a lot, it makes ...

james16 Chart Thread