I personally place more importance on the Breakout Pattern area, whatever that may be. IN the above example it was in the form of a channel or trendlines. But it can be PPZ also, horizontal, wedge patterns, etc. Then I look for the same concept as a ...

james16 Chart Thread

There were a few posts here about playing continuation pinbars. I thought I would chime in how I play these. These can also look like pinbars in traffic. The way I play them is part of breakout trades I take. If you look for a breakout then a ...

james16 Chart Thread

If anyone thinks that putting 2 months into this material, which is a hell of a lot more work then just picking out any old pinbar and thinks they will succeed, I will spare you the time, this is not the thread for you. This thread is about learning ...

james16 Chart Thread

Hey I manually trail my stops. That is using discretion. Most are familiar with my 2 bar exit strategy as one of my many trailing tools. You can use prior bar lows, simple PA, support and resistance etc. I don't use a broker trailing stop as you ...

james16 Chart Thread

Well it depends on the style of trader you are. If you trade ala James16 he moves stops quicker takes profit etc and these types of areas. I trail my stops. So once I am in a trade ,a bar low such as that is not going to scare me out of my trade. ...

james16 Chart Thread

I would say there is some caution to trading against such a strong downtrend. Usually I will pass on these types of trades, unless we get a much bigger reaction pin bar. Meaning the overall size of the bar stands out compared to the recent strong ...

james16 Chart Thread

There are numerous ways to trade price action We can play a break of the bar(the most common method, conservative, lets us know the bar is valid) We can enter right when the bar forms(more aggressive, slightly better entry achieved thus a slightly ...

james16 Chart Thread

We do not need the 3rd bar to close in order for us to trade the pinbar. A pinbar is considered valid as soon as the high/low of it is broken to validate it. So really you only need 2 bars to know if it is a pinbar. But the 3rd bar we execute off ...

james16 Chart Thread

Some people watch multiple broker charting. My opinion(after doing the former), is just find one broker charting you are comfortable and stick to that Keep things simple Also here is an update to that USD/CHF chart. What James teaches works over ...

james16 Chart Thread

Ok sorry I just took over this thread for a bit lol This is a perfect example like the eur/jpy. See how price is overall sideways from where this pin was created. Then the nose is just barely sneaking above that other bar high(the purple ...

james16 Chart Thread

That PDF document was put together by a reader of this thread. So it is unofficial but still did a good job of covering some basics. If you go to the "guest" section on the james16 pay site, and go to guest material check out my video called pinbar ...

james16 Chart Thread

Hey Nuriksari Marked A on my chart is the one not in traffic. Traffic I used refers to when price is moving sideways OR when there are prior lows/high getting in the way See on my chart the low of Bar marked B. Well pinbar C, the nose barely was ...

james16 Chart Thread

Yes I had a pending order that never triggered. I had my buy order Just ABOVE the rd number. It never got triggered. RD numbers are important. Best Mike

james16 Chart Thread

lol no. But that did get a smile from me Pin one on your chart never broke the high, a pin is not valid till the high breaks. Great long nose, my order never triggered, if you played it on the retrace then you took a loss Pin two was in traffic ...

james16 Chart Thread

That is about the worst thing ever. You certainly can go broke taking profit.

Trading maxims.

I just have my pairs that are on my watch list minimized at all times. Have alert indicators for when price breaks out or hits a certain area so I know what to watch(for example if I am looking for a pullback, when price hits that area it will set ...

james16 Chart Thread

I rarely enter on a PURE breakout. I have certain criteria where I will make exceptions. Normally I am scanning my charts for breakouts with the trend. So for example on the gbp/usd I posted, I saw a breakout formation forming on the 4hr. I will ...

james16 Chart Thread

Yep indeed this is true very true Every style of trading has benefits and drawbacks, simply find a style that fits your personality. People always want the best of both worlds in trading. Same goes with entries and stops. Example I don't want to put ...

james16 Chart Thread

This is a style thing, but regarding Breakouts I prefer to always wait for a pullback and PA at the pullback. The pullback can happen on horizontal breakouts(ppzs), trendlines etc. This gives me the confidence in the trade and a specific point for ...

james16 Chart Thread

PPZ stands for price pivot zone It is the flip b/w support and resistance. Start with this post and scroll down url Enjoy it is powerful tool Mike

james16 Chart Thread