Forex Price Action - Page 18
Page 18 of 2123 FirstFirst ... 8 16 17 18 19 20 28 68 118 518 1018 ... LastLast
Results 171 to 180 of 21228
  1. #171
    Quote Originally Posted by lucariga View Post
    Hi all and Great thread!!!!
    I think the 1st one is not a PIN cause of the body is too much in the middle on the candle. The 2nd, according to John rules, is not a PIN cause of the wick doesn't protrude so much from all other bars.

    We'll wait John answen anyway....
    Just my 2 cents
    Sorry for my english though
    Thanks lucariga for thoughts !

  2. #172
    Quote Originally Posted by Vahagn View Post
    ...a chart with pointed Pin bars. Just like an exercise ...

    Pin bars ?

    Attachment 22023

    Thanks
    The first one on the left is not a Pin and the one on the right is a Pin but so small I couldn't trade it. Again I believe Johnathon showed some examples a few pages back which showed playing pins from swing points. Just go and check them out and you'll see the difference from the ones posted here.

    Again it is not just enough to have a PB. That is only a small part of what makes a trade.

    Then you have to consider is it with the trend?

    Is it occurring at a relevant Support or Resistance zone?

    How big is the PB?

    Am I playing the PB from a pullback within a relevant trend?

    PA trading is great, reliable easy and simple. However it is not good enough juts to see a PA signal on it's own and dive into a trade. Ideally you should be able to put a tick next to all those other things I listed to make it an A++ trade.

  3. #173
    Join Date
    Jan 2012
    Location
    Melbourne, Australia
    Posts
    1,511
    Quote Originally Posted by Vahagn View Post
    For example in situation like this, is it a trade, or is it wiser to wait the Price to break (maybe) the support line and come back to test the recent S/R level?
    Okay,

    so firstly can we please just for the sake of simplicity and just so everyone can stay on the same page stick with the same terms. I think if we do this it will avoid a lot of confusion and questions being asked 1 thousand times over.

    So the 4 main price action signals we will begin to trade are;

    1: Pin Bar Reversal
    2: Engulfing Bar
    3: 2 Bar Reversal
    4: Inside Bar

    There are some others but we will stick to these as this is more than enough and to be honest all I really concentrate on these days anyway.

    Okay so as for the USDCAD, you state it is a downtrend so why would you want to trade against it? So when you ask if it is A+, I can answer this by saying when trading agasint the trend a trade can be a good trade but never A+. Yes I do trade both side of the market i,e: with and against the trend however the majority of my trades are with the trend.

    I suggest for new traders ALL their trades should be with the trend. If people follow this one strategy (which most do not) they will be very happy!

    Okay so to analyse the daily chart for you. We had the tiniest little not quite pin bar. Yes price has now gone higher but not a good setup whatsoever. Way way to small! Please keep this mind forever: Big Candles = Big momentum! People get scared when they see a really big pin or engulfing bar. I lick my lips as I know the bigger the setup the bigger the market is telling me something!

    Now the pin you have highlighted on the 4hr chart is a better setup but still not a great setup as against such a strong trend.

    This market has hit a proven support area that you have highlighted clearly on your daily chart. Price has now found support and bounced. I wouldn't be suprised to see price go higher from here. I would in fact like to see it go higher. Why? Because then I can look for price action at a key resistance level to get short in line WITH the trend. With me?

    Okay so for an example of a better setup on this chart I have attached a chart below of the same USDCAD 4hr just a little previous. A nice Pin Bar WITH the trend.

    Name:  pin.jpg
Views: 10993
Size:  16.0 KB

    Safe trading,

    Johnathon

  4. #174
    Quote Originally Posted by bhops View Post
    No worries. I'll post another current chart to show you how I plan my PA trades.

    Price has currently bust through long term resistance on the AUD/CAD Daily. I will now mark up this relevant zone and wait for price to rotate back and then produce a relevant bearish PA signal, either a PB or a Bearish Engulfing bar.

    Ideally I would like them to 'pop' out as well rather than take place amongst a lot of congestion, thus forming a swing point from which i can get short.

    Attachment 22024
    bhops,

    Thanks for shearing your thoughts....
    A question... ? What about general trend? On Daily chart the trend is UP, or...? So in this case you are going to take the trade against the general trend?

    Name:  Daily AUDCAD.jpg
Views: 10919
Size:  29.5 KB

  5. #175
    Sorry yeah I should have made that clearer it was the 4 hourly.

    Yes I treat each time frame separately. Price has been bullish but if price breaks down and cannot back above that former support then that would be good enough for me to short IF I got a nice big bearish PA signal.


    Quote Originally Posted by Vahagn View Post
    bhops,

    Thanks for shearing your thoughts....
    A question... ? What about general trend? On Daily chart the trend is UP, or...? So in this case you are going to take the trade against the general trend?

    Name:  Daily AUDCAD.jpg
Views: 10919
Size:  29.5 KB

  6. #176
    Join Date
    Jan 2012
    Location
    Melbourne, Australia
    Posts
    1,511
    Quote Originally Posted by Vahagn View Post
    ...a chart with pointed Pin bars. Just like an exercise ...

    Pin bars ?

    Attachment 22023

    Thanks
    Hey yes I did post or rathe copy and paste from one of my article about this but instead this time I will just give you the link and you can go and read. You can find here: Pin Bars intro

  7. #177
    Join Date
    Jan 2012
    Location
    Melbourne, Australia
    Posts
    1,511
    Quote Originally Posted by lucariga View Post
    Hi all and Great thread!!!!
    I think the 1st one is not a PIN cause of the body is too much in the middle on the candle. The 2nd, according to John rules, is not a PIN cause of the wick doesn't protrude so much from all other bars.

    We'll wait John answen anyway....
    Just my 2 cents
    Sorry for my english though
    Welcome Lucariga,

    and look forward to more of your posts!

    Johnathon

  8. #178
    Quote Originally Posted by Forex School Online View Post
    Okay,

    so firstly can we please just for the sake of simplicity and just so everyone can stay on the same page stick with the same terms. I think if we do this it will avoid a lot of confusion and questions being asked 1 thousand times over.

    So the 4 main price action signals we will begin to trade are;

    1: Pin Bar Reversal
    2: Engulfing Bar
    3: 2 Bar Reversal
    4: Inside Bar


    Name:  pin.jpg
Views: 10993
Size:  16.0 KB

    Safe trading,

    Johnathon
    Johnathon,

    Thanks for the lesson ! I think I start to get it....!

    Vahagn

  9. #179
    Quote Originally Posted by bhops View Post
    Sorry yeah I should have made that clearer it was the 4 hourly.

    Yes I treat each time frame separately. Price has been bullish but if price breaks down and cannot back above that former support then that would be good enough for me to short IF I got a nice big bearish PA signal.
    Ah,... I see

    Thanks

  10. #180
    Join Date
    May 2011
    Posts
    342
    I see one of your 4 setups is the inside bar, yesterday you said most inside bars fail

Forum Sponsors

Similar Threads

  1. Price action
    By allinger in forum Free Forex Trading Systems
    Replies: 11
    Last Post: 05-29-2015, 03:34 AM
  2. Replies: 0
    Last Post: 08-16-2009, 11:50 PM
  3. Replies: 0
    Last Post: 04-23-2009, 01:50 AM
  4. Replies: 0
    Last Post: 04-09-2009, 02:10 AM
  5. Replies: 0
    Last Post: 04-08-2009, 04:50 PM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
"Our greatest joy is not in ever falling, but in rising every time we fall."
Confucius