John,
I’m seeing a pinbar on the daily of GBP/JPY and wonder whether you’d be looking to place a long above the high? However, rather than pollute Phil’s thread would you be willing to start another to discuss your approach to daily pinbars? This topic is one I’m keen to learn.
Cheers, Matt
I am having hard time to follow the thread nowadays as it getting more complicated & confusing …pinbar??? traffic???..blaaaa…
I believe here I am trying to use the combination Phil’s and John’s analysis.
Attached is the CADJPY 4HR chart. Plan to go on long because
Entry would be - Few pips above the middle (bearish) candle high
Stop loss: Few pips (10) below 85.
TP: 86 where another S+R exists.
Does this makes sense ? any thoughts ?
Thanks~ How do you trade outside bar?
Makes perfect sense to me. I would consider trading it but my charts don’t have CAD/JPY!!
I say if it has a 60%+ chance of working and at least a 1:1 ratio it’s a good trade. 
Did anyone take the reversal off the failed GBP/JPY scalp line (which was also the top of a S+R zone)? I missed it because I was asleep but it’s a winner!!
Vow !! Thanks for the encouragement.
I did phil, I entered at 154.07 with an initial stop at 152.30. As of now it is at 155.34 and I changed my stop to 154.20. Thank you so much for your ebook, your trading style fits my trading personality perfectly!
…I have just started with the links in the main post, but it will take time for me to catch up there.
hey benji i would recommend that you start with Jim’s first post and read through all those links like you said. look through the pdfs and learn the setups. then try to keep current with the thread while reading the whole thing over time. just keeping current is a full time job lol!!!
also i recomend stick around here it is a friendly envirnment that is great to learn in.
edit* i forgot to answer your question, the answer is yes i do belong to the private forum but it is not necessary. all the information is in the public forum and in fact the public forum is where it is at, there is way more activity there and alot of really great traders there. if your interested in the private forum or just curious do a google search and check out the guest area there are alot of great videos and stuff.
John,
I’m seeing a pinbar on the daily of GBP/JPY and wonder whether you’d be looking to place a long above the high? However, rather than pollute Phil’s thread would you be willing to start another to discuss your approach to daily pinbars? This topic is one I’m keen to learn.
Cheers, Matt
hey matt this was a good pb but i didn’t take it, the location was ok but as you can see the gj has hit 156.00 so obviously it worked 
teh more you see these and observe how price moves the more you will see these pb’s point the way, but location is everything and practice does make perfect.
hey mumpips sorry for confusing the thread.
phil if you want i will start a new thread i know im stearing things away from your analysis but i don’t mean to. i just get excited coz i know this material works. just let me know. im happy to stay or i can start a new thread as to not clutter this one any more.
thanks, john
- The candles are either formning a Morning star pattern or DBHLC ?
a moprning star maybe but it isn’t a DBHLC
btw the dbhlc on the chart i posted failed miserably but i knew it wasnt a great example. those are more advanced and add to analysis but are not to be traded alone so in regards to that chart i posted i would have never traded it.
John - please don’t start a new thread… this is a great thread, and saves us having to read a number of threads to get the best trading techniques! (sorry mumpips)
That’s completely up to you Johnny. As far as I’m concerned your input is always welcome here and you’re helping quite a bit, but I do understand your point, Mumpips.
Glad you had a successful trade, Rocket!
If you’re still in the trade it might be time to start looking to get out. It bounced off the previous swing high and the current candle is looking like a reversal candle. It’s also really close to the long-term trendline.
London is opening soon and it’s probably going to either blast off and go higher or fall back down. I’d wait 45 more minutes and if the current candle closes with a long wick get out!
You also might consider closing half or 3/4ths of the position and letting the rest ride, just in case it does shoot up!
Johnny,
Taking yesterday’s pinbar as an example and assuming you had traded it, where would your orders have been?
10 pips above for long?
10 pips below for stop?
TP? 1R? .5R? 2R?
Matt
Is anyone taking a reversal trade at GBPJPY?
Entry = 155.35
SL = 156.35
TP = 153.35?
Evening all,
This is another great thread that I find is fitting with my trading style.
I’ve been dabbling with PA and pin bars and Nick 4H method and this thread of Phils is one of my must reads every day. Sorry I havent had the time to contribute but I have been reading a long.
Just an observation on GBPJPY, have you guys noticed that the 156.43 level converges beautifully with the 61% fibonacci ret from 12 Jun high (162.58) to 8 Jul low (146.75).
Looks like we have a bounce going down now although price did not quite reach the 156.43 level. By James 16 method i think there is a bit of support coming at 155.13 ( a previous Nick B scalp line), but if price breaks through that then it could head way down towards 153.00.
Cheers
Boca
I ended up exiting the trade at 155.67, I was going to bed and I saw that it was getting close to the recent high so I was happy with my 160 pips. I absolutely love this style of trading and based on your responses to mine phil I think I am really getting the hang of it!
If the price breaks up 156.50, I will take the scalp trade.
Entry - 156.55
SL= 156.10
TP:157.15
