Forex Price Action - Page 101
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  1. #1001
    Anyone spots a good trade setup to enter? I tried just now with no luck.... At least not to my untrained eyes

  2. #1002
    Join Date
    Apr 2012
    Posts
    27
    i got today 50 pips on H4 EU PB....

    try look at that if that setup still valid and can generate some profit...1 hour 15 minutes till 4H GJ new candle, lets see if it make 2BR pattern..

  3. #1003
    Join Date
    Feb 2012
    Posts
    19
    Quote Originally Posted by Forex School Online View Post
    Worked out okay? I was taken out at BE but it did manage to get to the level we though it may.
    Worked out brilliantly

  4. #1004
    Join Date
    Feb 2012
    Posts
    19
    Quote Originally Posted by Forex School Online View Post

    Okay so what I did was take the trade on the 1hr chart that we were talking about yesterday. Price did go lower and ran into trouble and I was taken out at BE. See charts for explanation:

    Johnathon
    I took the same trade yesterday. The only difference is that I didn't manage it so aggressively and got stopped out with a loss.

  5. #1005
    Join Date
    Jan 2012
    Posts
    1,814
    Quote Originally Posted by Forex School Online View Post
    Dude,

    do you not think that price did enough? or what would have been expected? In other words you can only expect so much. Basically when we enter a trade we can only expect price to reach the next support or resistance area. From there it is anyones guess.... Do you not think this did reach that level and then turned around?

    What were you expecting?

    From such a small signal I think it did very very well and gave you a chance to A: Take profit and B: Move to break even and manage your trade.

    This was not a trade for me but it was rejecting a very important round number on this chart of 1.000 and it did reach the next logical support.

    You maybe need to look at trade management a little closer??

    Johnathon

    Attachment 24413
    Hi Johnathon,

    You're right, price *did* reach the next logical intra-day support, then turned around. Trade management was my problem.
    Thanks for pointing it out.

    BR,
    Dudest

  6. #1006
    Join Date
    Feb 2012
    Posts
    19
    Hi All,

    Just wanted to check your opinion on EURAUD Daily chart. Do you think the pair can still recover ? I entered on the break of the bullish engulfing. I guess it's against the trend and maybe a bit too small.

    Cheers,

    Name:  EURAUDDaily.jpg
Views: 2383
Size:  21.3 KB

  7. #1007
    Join Date
    Mar 2012
    Location
    Sydney, Australia
    Posts
    172
    Quote Originally Posted by Forex School Online View Post
    That is definitely not a bad way to go. Can you not do both? For example if you can see price has a very strong chance to go higher into this level could you not go long and take profit and then look to short and make money coming back the other way?

    Okay so one way someone could play if they wanted to do both is they could take a long at the break of the BUEB at place a stop below the support level. Now note we normally place the stop below the candle low but sometimes this can be tweaked. I don't want to go into this to much but this could be an possible option and would cut the stop width and increase the RR. Traders could then set a target of the resistance I have already marked and this would be over 1/1 risk reward.

    Then as said traders could look to short.

    This is all hypothetical obviously and definitely not trading advice as the trade has already been and gone. I don't want to go to much into stops and trade management i,e targets and protecting capital etc in here.

    I hope this helps and answers your question,

    Johnathon

    Attachment 24416
    Very much so, thank you

  8. #1008
    Join Date
    Mar 2012
    Location
    Sydney, Australia
    Posts
    172
    Quote Originally Posted by szatek View Post
    Hi All,

    Just wanted to check your opinion on EURAUD Daily chart. Do you think the pair can still recover ? I entered on the break of the bullish engulfing. I guess it's against the trend and maybe a bit too small.

    Cheers,

    Name:  EURAUDDaily.jpg
Views: 2383
Size:  21.3 KB
    Its not over yet! : )

    I went long on this as well and felt quite good about it. Be interested to see others thoughts about it..

  9. #1009
    Join Date
    Sep 2011
    Posts
    181
    Quote Originally Posted by Paddymctaff View Post
    Its not over yet! : )

    I went long on this as well and felt quite good about it. Be interested to see others thoughts about it..
    As long as it didn't yet hit the SL yet it is still a valid trade (as long as you have smart SL placement). It also has stalled for the last few hours which means there is a "good" chance it's getting ready to reverse. If it does decide to go back up I'll be looking to take another long (as long as there is valid PA) with hopefully a much smaller SL off the 4H.

    That's my take. I'm not a pro by a long shot haha and could be completely mistaken. Besides that there is always going to be losers (I'm still working on incorporating this fact into my stubborn mind). I hate to lose in anything and unfortunately that translates over into this sort of thing as well. Every time I lose a trade I can't stop thinking about it for days and it makes me pretty ill tempered which is really not acceptable. Unless of course I lost because of greed, error, revenge trading, etc... then I have reason to be ticked at myself.

  10. #1010
    Join Date
    May 2011
    Posts
    342
    Hey guys

    I personally only trade the 4H TF, having said that I demo traded these two pairs from the daily setup. I am now looking for big PA in direction of daily on the 4H TF, so to answer your question yes I hope it turns.

    Cheers
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