Benji, your CADCHF weekly pinbar is triggered, did you get into the trade? 
Hi Ray,
No I did not. I am getting smarter every weekā¦so last week I can see I was pretty dumb (probably now I 'm dumb for netx week lol).
Taking that trade short was diving right into an heavy PPZā¦specially see those bar highs from the leftā¦I wouldnāt wand to dive into them.
Actually Iām freaken picky. Didnāt have one trade for almost two weeks now (I thinkā¦if my memory is right)ā¦I think Mike has somehow heavy influence on me.
I had a few plans to tradeā¦but none of them triggered.
But to be honestā¦I spend more time reading, reading and reading what I can to learn and get smarter in this stage. I donāt spend much time checking my charts.
But I am also accomplishing something by being patient and holding my self from entering tradesā¦I know that it is my weakness, overtrading.
Cheers!
Ben
Man! Iām a freaken weird guyā¦
Just saw this and couldnāt hold myself moreā¦sorry
I wonāt move for a second from this computer until I move my stop to BE 
Ben
Ohh yeaa Got out exactly on time!!
I made my pips here and got out.
I knowā¦good chance it will breakout and I could made more pipsā¦but I decided to get out based on what I have learned.
Look at that consolidation boxā¦I have got out when price touched that lineā¦and now after I got out, price reserves exactly where I got out.
First āreal tradeā
Ben
Well done!
Iām myself watching the AUDCAD trade I closed/chickened out of moving nicely in the direction it was supposed to :o
Iām also watching the possible formation of an absolutely stunning pin bar on GBPUSD weekly. Havenāt checked for PPZ and confluence, but if it closes looking like it does right now, I might almost get a bit giddy
Yea I see the pin on GBPUSD weekly. Basically itās placed on a swing highā¦so good location. But Iāll do my analysis on the weekend maybe tomorrow.
I have noticed a beuty pin on NZDUSD dailyā¦but the bar didnāt close yet on my feedā¦so we shall see.
The PB on AUDCAD 4H has a good looking and location
I need to be careful now and keep taking the goodies only
Ben
Benji, your CADCHF weekly pinbar is triggered, did you get into the trade?
well ray i ve got a soar a$$ from that one. i got stopped out for - 140 or something like that 
accually my jpy trades took a beating today too!!
My problem is i like to trade to much for this system i know people say its bad to overtrade but a safe 10-20 pips at a time adds up. ive got to do some soul searching this weekend man i just hate nfp!!! did you guys see the markets today it was worse than a rollercoaster. i was long gu from yesterday so i got stopped out i went short got scared got out then it dropped and dropped so i grabbeds my quick 50 but still very down for the day nearly -300.
i just enjoy daytrading but im not home to trade
ow well ill shut up now. I hope everyone else did well today
Iāll tell you what I did today.
I went out paddling for a couple of hours, came back, had something to eat, went swimming, ate ice cream, came home.
Then I turn on the computer and find an absolutely wonderful pin bar forming on weekly GBPUSD. And I find that the trade I chickened out of has gone where it was supposed to, but now without me
This weekend Iām going to place all those PPZ or S/R zones or whatever we choose to call them on my 20 pairs, using monthly and weekly time frames.
Then Iām going to look for A setups and I really hope that GBPUSD will qualify!
Hereās to long time frames and to a disciplined and profitable week next week John!
Cheers
Johnā¦cheers my brotherā¦I guess it is just an issue of being more picky?
As I have said today in my comment to rayā¦that trade was diving into a major PPZ. Better days will come! Cheer up
Enjoy your weekend
Ben
thanks guys i appreciate the encouragement. i know better than to trade nfp friday, that is a game changer. that pin on the gu does look juicy but look at the pin from 9 weeks ago, that one was a longer wick and a better body but it failed. I really donāt know for sure but i cannot agree that weekly and monthly are more accurate than daily. investors trade longer scale but daytraders trade daily and under so i donāt know if i would trade this. also those huge stops suck!!! dealbook doesnt have micros so i am forced to trade mini which i know i should be demo trading but i donāt coz im a dummy 
ow well maybe ill take my short bias of gu and trade the snot out of her and leave her a$$ as sore as she left mine today lol!!!
edit* the new pin will be aprox. 400 pips stop loss
risk 400 to earn 100 im not sure i will take this trade. rather i will trade with my long term outlook to be short
You have started this pair analysis Johnā¦Iāll just add my share (:
1.7000 is a very strong PPZ. Look at the picture.
We are based at swing high right now, under a super major PPZā¦ideal place to look for a bearish setup? :rolleyes:ā¦I think yes.
Now lets zoom into the daily. Look at the second picture. We have just jumped out of a consolidation area. The market was in indecision mod for a long time nowā¦so that means we might see a strong breakout to one of the directions. IMO that divergence can help us see where price is heading. Lets add to it the strong PPZ 1.7000 at a round number.
Basically, that breakout in the last days was a false breakout (it is summed up with a Pinocchio barā¦in other word, price lied by forming a false breakout), and it just adds strength to the bears by making that divergence stronger.
Now lets go back to weeklyā¦picture number three. The location is good, but we need price action confirmation. No PA = no trade.
Look on the weeklyā¦there is a pin bar forming. Well that pin bar is nice, but not an A pin bar IMO cause itās nose is quite short if we compare it to the surrounding barsā¦ummmā¦
The thing that jumped out at me though was that 50.00 ret level that Jim always mentioned.
Basically if Iāll take that trade, I expect the next bar to reach he bottom of the consolidation box (might have trouble with the minor PPZ within it), and than move my stop to BE if the box will breakout.
The 150ema and 365ema are straight above that pinā¦(at least in the righs direction lol).
To sum it up, Iāll want to see price breaks through that box again before I play that pin. Maybe Iāll only play the breakout of the bottom of the boxā¦ummā¦than there will be space for price to move.
ok to be honest I think Iāll skip itā¦we shall see.
Ben
Very good tradeā¦ Good Job !!!
Hi johnny,
One important stuff I learn from james16 is NEVER TAKE A FULL BAR LOSS Get out when you know that the trade is going against you. In addition, always look to get some money of the table, at specific levels whereby there is minor resistances against your trade. For example, you trade a 2 mini lot position in the CADCHF and you are not around to monitor the trade, set a tp for one lot at minor resistances and let the other lot run. If the other lot is in negative, exit the whole position dun wait for it to hit your stop loss. This will greatly reduce your loss.
Thanks
Ben
Great analysis there Benji,
I see a few pin bars have formed on the weekly, but from memory I think most of them, although they have nice formation, there is a lot of traffic in front of each of them. I will be taking a closer look at the charts later.
I would just like to throw something out there for discussion. Do any of you guys take the longer term trend into account? For example, from my analysis, GBPUSD is in an uptrend on the weekly timeframe, so by one school of thought out there, we should only be looking for LONGās on this pair. Hence the the bearish pin bar that has just formed, should be treated with great deal of caution or not traded at all? I just wanted to get some opinion on this.
Cheers
Boca
One important stuff I learn from james16 is NEVER TAKE A FULL BAR LOSS Get out when you know that the trade is going against you. In addition, always look to get some money of the table, at specific levels whereby there is minor resistances against your trade. For example, you trade a 2 mini lot position in the CADCHF and you are not around to monitor the trade, set a tp for one lot at minor resistances and let the other lot run. If the other lot is in negative, exit the whole position dun wait for it to hit your stop loss. This will greatly reduce your loss.
hey ray at soem point this trade was like +20 something. is that where i would take money off the table? or move my stop?? i would think that a weekly move would need more time. i didnāt use the full bar stop or else i would still be in the trade which leads me to wonder to reenter the trade? or has sentament changed with nfp? i think ill steer clear of reentry.
thanks for the input i really appreciate it, john
I took a closer look at the pair tonight and itās nice to see that we have reached the same conclusion.
The setup is very nice, but unless price can break through the bottom of the range box, thereās some risk which may well bring the need for an early profit take.
Therefor I completely agree with you on the management of the potential trade. If it does break through the box thereās definitely some potential for movement and itās worth moving to BE to get a chance on that.
Iād try to get in on a retrace, somewhere around 1.6780 might be reasonable.
Seeing how the setup is placed at the major PPZ 1.70 I would actually call it an A setup, though not an A+.
Reading through your analysis I only noticed one thing that made me pause, that was the placement of the fib on the weekly chart. It seems to me a more natural point for the high starting point would be the high from back in October. I know it doesnāt make the fib levels āfitā at all, but we must not allow that to slip into our choices when placing fibs.
There you go, some critique with the sole intent of helping us all improve.
hey mac think i like this trade too but it will have to break through that box for me as well. right now price has found support from the 1.6650 which is the high for 09 so if it can break that support we may see her run down to the 6500 area. it will need a ton of selling pressure but it could even see 6400ās but i would manage her tight coz there realy is a ton of traffic all through this trade and accually i am going to manage on a 4h or maybe daily level coz weekly is to great a stop loss for me.
Yes, if it just goes into the box but fails to break it one might at least expect that the 6400 level is achievable. Just judging by eye the horisontal pivot of the June-July range seems to be about at the 6400 level.
The previous pin bar you pointed out was a good example of a perfectly fine pin bar that failed. I guess simply one of those 10% losers.
1.6600 is the first resistance to the trade, so it could be an idea to take profit on a big enough part of the position, so that we break even if the remaining part turns to hit the SL. That way we still have the potential for the remaining part to become a nice winner.
1.6600 is of course only a sensible partial TP if I manage to get in at 1.6780.
Managing it on the daily is a good idea and I also plan to do that.