Here's a trade I took yesterday. I went long after the break of that 4H Pin bar. It was off a recent trendline as well as a PPZ I had on my charts. It was a little risque because of NFP, but I figured if price went the way of the EUR this would work ...

The Moneybags journal

IMO, it depends on the pair and the timeframe. Putting a buy stop 5 pips above a high on a weekly pin or a daily pin on the GBPJPY probably isnt enough. On the other hand, if you're looking at a 4H pin for CHFJPY, 15 or 20 pips is too much. I ...

james16 Chart Thread

That sucks SL... It's always tough when you get stopped out by a few pips only to see the trade go your way, as well as entries being triggered by a few pips and then the trade failing. It's interesting how both of these scenarios happened with the ...

james16 Chart Thread

I take it from the change in your YTD number, this trade stopped out? But you're right. In Forex, revenge is a dish best not served at all. No good can come out of trying to get back at the market.

Tiki Trader Trades

Since I dont get the CADJPY pair on my charts, how much higher did price go from yesterday's high? How many pips away from the high did you guys place your entries?

james16 Chart Thread

You might be able to get a bounce Tiki. Lets hope.... CADJPY was the only JPY pin that triggered I think. And barely at that. Happens sometimes....

Tiki Trader Trades

I just wanted to wish everyone a fantastic New Year and I hope everyone's goals are achieved in 2008. Thanks to every person who has and continues to participate in this thread. I wouldn't be where I am today if it wasnt for a bunch of J16 folks, ...

james16 Chart Thread

All the best in 2008 Tiki. I hope that YTD balance stays green the whole year with a great number next to it. Tom

Tiki Trader Trades

Yes this is right. It's the time zone differences that make the different candle/bar formations for each broker feed. If you're with a broker whose charts are based on the ordeflow of only their own customers, you better change brokers.

james16 Chart Thread

Well, everyone trades differentely so it really depends on each person. Personally, I like my charts to be as clean (empty) as possible. So what I do is draw the most obvious and significant (in my mind at least) trendlines, supp./res areas, and ...

james16 Chart Thread

Hey Qiu, Yes those are enough (and some might even say too many). But you don't need to use only indicators to identify supp & res. Trendlines are great, as well as just visually looking for supp/res areas and drawing horizontal lines. (as in ...

james16 Chart Thread

Merry X-mas to you too Tiki! All the best in 2008. I'm sure it will be better than 2007. Just try to keep those impulse trades to a minimum. Tom

Tiki Trader Trades

From my point of view you are correct. There is a similar daily setup on the AUDJPY. What I especially like about these setups, is that the last 3 days price is consolidating. So they're not simply single IBs. Usually, with this type of setup the ...

james16 Chart Thread

Just to add something. What I would really like to see happen is: Price move up over the next few days to around 2069 and then create a sell pin bar. That would be great. Swingtrader makes some good points. Just by looking at this chart, it doesnt ...

james16 Chart Thread

Hey cheelu, I made a correction to my post. "Price is in a recent downtrend". I don't know what price looks like before Aug 2007 cuz I'm only going by the picture. But sure, price was in a good uptrend from Aug to early November. But since then it's ...

james16 Chart Thread

Even if the open/close were at a good level (higher up on the bar) the pin overall isnt perfect. (but my criteria have become very strict over time) I'll tell you a couple of things that I don't like about the pin. Price is in a recent downtrend. ...

james16 Chart Thread

That's the same thing I was going to say. Open and close are too close to the middle of the bar. Looks a lot like a neutral bar. It might work out regardless, but not an "A" pin bar. Tom

james16 Chart Thread

Hey nico, I agree with what Seeking said earlier. Most of the PA setups arent really valid if they appear in traffic (price moving sideways with no clear direction). Swing highs/lows are usually the best places to look for PA. Another thing about ...

james16 Chart Thread

You'll probably have better luck posting this question in the Metatrader forum.

james16 Chart Thread