It is ok that the open and close are the same. A neutral bar would be if the open and close was more towards the middle of the bar. This one had it's open and close withing the previous bar(on your chart). I agree the nose wouldn't hurt to be ...

james16 Chart Thread

Not a pin on mine like yours, but location is good too.. This is off a PPZ.

james16 Chart Thread

yeah bill have my one charting with just that template up...great stuff

No Free Lunch but all the Free Coffee you can drink

a break is simply when the high or the low of the actual pin bar itself breaks

james16 Chart Thread

hahah

No Free Lunch but all the Free Coffee you can drink

you got it

No Free Lunch but all the Free Coffee you can drink

how many trades are we talking that you came to this conclusion(you need a lot of trades to make something seem valid IMO). And with that said how big are your initial stop losses. If this is the case and your avg stop size is say 50pips and your ...

Money Managemant Question

This is why pips mean nothing. Don't let someone fool you otherwise. Pips only mean something relative to the percent risked. We need to control our risk. This is the means by which we do it(position sizing). Adjust your position size according to ...

Money Managemant Question

for me personally if it is a 4hr chart, I will take the trade anytime. But for under 4hr setups then time of day matters for me. So if I am playing a 1hr breakout with price action I will only take it during euro/early US hours Just my personal ...

james16 Chart Thread

Hey ShadyChars, You don't even need to make a switch from candles to bars. Once you understand each price bar you will be able to identify it on either chart. Many members use candles over bars. We just use different names. For example a hammer is a ...

james16 Chart Thread

LOL I literally just got an email from james(group email), about the eur/usd 4hr pin I just posted. Even the big guy loved it. To quote him (hope you don't mind jim ) "I get asked a lot from new people what is an A set up? I always tell them the ...

james16 Chart Thread

I think I get what you mean, but there still has to be a break. So even if the lowest point of the pinbar closes at say 1.5456, I would still wait till we hit say 1.5450. Because whenever price closes, that is the lowest point. So if the low of the ...

james16 Chart Thread

No one can tell you for sure which has the higher probability unless they take your trades. But by the nature of playing a retrace(an unconfirmed bar), you will be stopped out more and thus have more trades then playing a break. Again by the nature ...

james16 Chart Thread

I trade two ways. One is nearly purely mechanical(systematic). The other is discretionary, but systematic. So both ways I consider myself a systematic trader. Terms in trading usually tend to come back to how the trader defines them. So with that ...

There's no such thing as a trading system - discuss!

a lot of us following this one edit wow Jim beat me by a few seconds!

james16 Chart Thread

yes it broke hard, and stalled at the next area of support. For those that did take it, this is a good take profit area. Mike

james16 Chart Thread

Here is a similiar situation for those wanting another example of how I trade. Here we had a BEOB, or DBHLC but there was so much support we were fighting into that it makes the trade a tough one for me to every take(note* if these occur at extreme ...

james16 Chart Thread

Just to expand, If chf/jpy makes its move down, we can see we have another large area of support to look out for. This is why IMO it is safer to watch for a break long as there is less resistance on the way up, as there is on the way down. I trail ...

james16 Chart Thread

Hey Jim, Yes it could definitely be the hint for it, but I like playing OB, DBHLC, and pinbars at extremes that are not fighting into this(part of what I call creating "space"). It helps especially for the way I tend to exit trades as well. So when ...

james16 Chart Thread

also a follow up to the eur/jpy. We have been trending upwards. And found some resistance. This is where I would look to play a breakout and for that resistance to turn into support. If it breaks down, oh well. But if it breaks up I will be watching ...

james16 Chart Thread