i will also join on short side.
For me long . i am hoping this well go up, but no matter what i well keep. i already made a mistake of selling something to soon thinking i was going to loose, but ended up shooting high aud/usd ā¦ now the usd/cad is on the -50 .
Letās hope it turns around for you. Iām long USD now.
AUD/CHF - stopped out at B/E
EUR/USD - sell stop triggered
Just looked at the weekly chart for EURUSD and last weekās candle looks ominousā¦
Not sure about this one anymore but Iām in and -10 pips alreadyā¦
Staying in as Iāve had confirmation on the J16 thread that last weekās candle is not a pin bar. Iām staying in but looking to get my S/L to B/E ASAP (as always) and moving the T/P to 1.3300 for a small āscalpā of 90 pips.
Probably my last trade until after Easter
Well the bad news is I got stopped out of EURUSD, no one at J16 took it although they did discuss it so it can be a learning trade.
The good news is that I just got a new contract (IT) at an FX exchange broker
my G/J trade is in good profit. E/U got stopped out, it gave false breake down from BRN but didnt follow through and bounced back.
just entered long in CADJPY. This is a monthly chart, retraced 61.8 fib and moving towards 78.6, there is also a gap to be filled between sept 2008 and aug 2008. my target is the high of that wide bar. stoploss is prev bar high on weekly which is around 100 pips.
also looking at PA on CHFJPY. fib retraced 78.6 levels and also a PPZ area. on upside next trouble area is around 89.9, on down side clear path till 87.4
Nice trade on G/J - wish I saw that one coming. My lesson for this week is to look at the higher timeframes
Only thing Iād say is be careful about having too many trades and % of your account on one currency (short JPY). A couple of weeks ago I had GBP/JPY and EUR/JPY and they both tanked, then I did it again with GBP/CHF and USD/CHF so this is something Iāve learnt the hard way
That EU was a learning curve.
Iām long CADJPY for a position trade up to 96.75, S/L - 90.90. Iām not seeing any S/R levels in the way up to there, very nice trade hopefully. Only reservation is that itās not triggered by PA but that look slike it happened on about 22/03/10 so Iām just jumping in hopefully not too late
Iām also short NZD/CHF after a large bearish engulfing off the resistance at 0.7573 (weekly line chart). It looks like itās broken the ascending triangle even if I draw it from the closes and the wicks. Chart attached.
1st T/P is a mini āscalpā down to 0.7387, second is 0.7300
Am probably overtrading but my objective is to not just know the J16 method but to be able to apply it consistently and profitably. I love PA + PPZ, itās official
Stops moved to B/E for both trades after about 30 pips in my direction on both.
CHF just jumped about 120 pips in about 4 mins - stopped out at B/E + about 4 pips.
No news scheduled - bet itās some SNB person āon the wiresā :rolleyes:
both G/J and ADJPY are doing well. G/J hit target.
NZDCHF is not in broker platform
my average entries per day is 2. i dont want to wait for A+++ setups. also most of my trades are part of the education. if i dont trade, i wont learn. reading charts is one thing, trading them successfully is another
GBPJPY is a nice confluence area. PPZ, fib retracement 61.8
will watch out for PA. there is lot of traffit upwards than downwards
I just looked at cable, monthly PA looks really nice for a move up to about 1.5650.
Daily looks like possible reverse H&S, if it bounces off the neckline which I drew at about 1.5310 - possible short down to 1.5000 area?
I think the PA on the monthly and weekly looks stronger but you never know! Iāve put a stop buy at 1.5339, S/L 1.5174, T/P 1.5650
CAD/JPY is trucking on at +81 and +50 locked in.
Got a lot of chart analysis on daily/weekly/monthly to do this weekendā¦
[B]EDIT[/B] - cable [B]order cancelled[/B] as itās the [B]NFP [/B]tomorrow :eek:
Iāve had a closer look at GBP/USD on the monthly, weekly and daily charts and these are my thoughts.
The monthly and weekly charts look like it might be changing trend direction or going into a range (havenāt checked any indicators for this), even so the down trend might be slowing down. I donāt think either of the candles on the weekly and monthly charts are A+, but theyāre pretty strong IMO. Monthly doesnāt open/close within the open/close of the previous candle but what do you think?
Weekly doesnāt show any clear PA but it looks like itās definitely going up:
Daily shows a reverse H&S forming:
Iām watching for PA - ideally todayās candle forming either an inside bar or bearish engulfing for a short down to 1.5000. Iām tempted to put in a stop buy order 10 pips below yesterdayās candleā¦ after the NFP of course!
Just found some free vids in the guest are of the J16 paid site:
james16group.us/Guests/guestmaterial.html
Happy Easter
Watched the first 2 hour video today and am a lot clearer about James16ās PA+PPZ method.
Looking at the charts I can see a load of āscalpsā for 50-100 pips just from small PPZ.
Going to take every one I see next week and see what happens
Iām not trading any inside bars at the moment - just pins and outside bars.
Seen some nice and OKish setups on the daily and weekly charts:
USDCHF - weekly pin? Daily pin from Thursday. Got a long position and took 80 pips on Friday - See 1.0650 as first major barrier.
GBP/CAD - Not perfect or very long nosed pin on the weekly to indeicate a possible trend reversal to go long. Bearish outside bar on the daily so conficting PA. No thanks!
NZD/CAD - Bearish outside bar on the weekly, got a pivot level drawn at about 0.7074 so another scalp of about 50 pips. Daily PA showing small inside bar, but think weāre a few days late on this oneā¦
GBP/CHF - big bullish outside bar on weekly, could be good up to about 1.6350 if it breaches 1.6230. Bit wary of any PA on CHF after recent SNB shenaneggansā¦ :mad: No PA on daily.
GBP/JPY - not in this one and wish I was - Interesting looking small pinbar on last weekās candle - was right on the money.
[B]GBPNZD[/B] - small pinbar on weekly, possible trend reversal? Could ride this one up to 2.2000 for a cool 300 pips. Iād put an entry stop on this one now for 2.1640 ā> 2.2000 if my broker let me put entry orders on Sundayāsā¦ Daily PA shows bearish inside bar so weāll seeā¦
[B]AUD/CHF[/B] - bullish outside bar on weekly, could go up to 1.0000. Daily PA looks choppy. This pair is trending up like a mofo and I might try and take 200 pips out if I can get an order in time.
CAD/CHF - bullish outside bar on weekly, daily looks really choppy.
[B]EUR/CHF[/B] - big outside bar on weekly and daily - no traffic until about 1.4500 which is a good 175 pips although there is a BRN (1.4400) in the middle of that.
Thatās quite a few to watch. Iād like to recap where these are all in 1 weekās time and take the better looking ones - EUR/CHF, AUD/CHF, GBP/NZD
Currently in USD/CHF, GBP/USD, EUR/JPY, CAD/JPY.
What a lot of trades :eek:
for outside bars, are you considering open/close or high/lo ? for me bidy has to be bigger than prev bar. i dont consider tails.
The body - still getting used to bars
Took about 60 pips from GBP/NZD today using the weekly pin bar as a signal.
Entered AUD/CHF (long) after the weekly bullish ouside bar
i entered long audcad with tight stoplooss, right now its at a crucial long term support, it bounced from here several times in the past. lets hope it does one more time