Forex Price Action - Page 300
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  1. #2991
    Join Date
    Jan 2012
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    1,814
    Hi peeps,

    Watching...

    Name:  20120807_gbpchf_d1_waiting_longs.jpg
Views: 2223
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  2. #2992
    Join Date
    Feb 2011
    Location
    Latvia
    Posts
    278
    Quote Originally Posted by dudest View Post
    Hi peeps,

    Watching...

    Name:  20120807_gbpchf_d1_waiting_longs.jpg
Views: 2223
Size:  19.7 KB
    Yep, same setup I posted 1 day ago and still waiting for it, hope it gives a very good PA signal!

    Richard

  3. #2993
    Join Date
    Dec 2011
    Posts
    11
    Thank you for the very detailed explaination Johnathon!

    I will wait on this and see what happens...

  4. #2994
    Join Date
    Jan 2012
    Location
    Melbourne, Australia
    Posts
    1,511
    Quote Originally Posted by hbres1 View Post
    Thank you for the very detailed explaination Johnathon!

    I will wait on this and see what happens...
    Keep in mind I was not giving specific advice on this trade. I was simply giving advice for future trades and what you need to do. Or more importantly what to stay away from.

    Because I answer and explain this questions every week I have now written an article that I will be able to refer people to in the future. I will put this article up on Sunday.

    Johnathon

  5. #2995
    Join Date
    Feb 2011
    Location
    Latvia
    Posts
    278
    Hello!

    Lets wait and see what turns out..

    CAD/JPY D1
    Name:  2012-08-07_1857.jpg
Views: 2104
Size:  20.1 KB

    Richard

  6. #2996
    Join Date
    Aug 2011
    Location
    Bedfordshire, UK
    Posts
    94
    I see your point, but from 3 June, price has been heading up. I'll personally be looking for price to head north of this level, then re-test with bullish price action to enter. I know we dont really look at fundamentals, but the CAD looks a stronger bet in the long term.

    Happy for critique here!

    Andy

    Quote Originally Posted by FaRS View Post
    Hello!

    Lets wait and see what turns out..

    CAD/JPY D1
    Name:  2012-08-07_1857.jpg
Views: 2104
Size:  20.1 KB

    Richard

  7. #2997
    Join Date
    Feb 2011
    Location
    Latvia
    Posts
    278
    Quote Originally Posted by Gliderguider View Post
    I see your point, but from 3 June, price has been heading up. I'll personally be looking for price to head north of this level, then re-test with bullish price action to enter. I know we dont really look at fundamentals, but the CAD looks a stronger bet in the long term.

    Happy for critique here!

    Andy
    Hei there!

    Thanks for your opinion Andy.

    For me it's kinda ranging and the overall trend is bearish if u zoom out a bit more, so let's see, what happens!

    Richard

  8. #2998
    Join Date
    May 2012
    Location
    Herts, UK
    Posts
    199
    Quote Originally Posted by Forex School Online View Post
    Pin Bar's are reversal signals not continuations. To go short you need to pick price to reverse with a Pin. This means price must go up and then form a Pin Bar. You will the be picking price to reverse to go lower. Here you are selling from a low. The first chart I have attached shows how you should trade in a down trend and also hwo you should trade from a high to go short instead of a low.
    Hi hbres,
    What I had found to be one of the most confusing things to understand, on the beginning, (and hopefully it will make things clearer to some other starters) was a thought "it's easy for them to say now: you should have taken this bearish pinbar from the swing high" when they have all the future price action (after the PB) in front of them, it's easy to identify swing high. Like on Jonathon's 1st chart.

    I knew it as well and it was dead simple when analysing past price behaviour from few months earlier (backtesting on any pair) it was pretty obvious when seeing all that action which has happened after any PB had occurred that it was that swing point or retracement I should be acting at.

    But it looks different (from a newbie point of view) if there is nothing after the PB:
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    Ho do they know where price will go?
    The point is - they don't. What they do is they try to identify price levels where the price hit some resistance / support in the past (image below) and they wait for the same thing to happen now - to give you a signal of struggle at this particular level AND if it happens that the price shows you a PA signal (PB, EB, 2BR) at this level, the odds of correctly estimating price behaviour greatly increases; and they are simply using this to their advantage.

    The moment it clicked for me was when I started drawing S/R lines on my daily charts from month/two months ago (backtest) AND scrolling the chart by one day (one candle) to see how price behaves around my S/R zones giving me from time to time a PA signal to enter the market.

    I was simply assuming that the level the price had struggled once, will act in the same way now and might become a swing point (to buy from low or sell from high) with hopefully a PA signal that I understand and know how to act on. I hope I don't have to stress how important is having those levels pre-marked and waiting for price to get to them, not the other way round, or playing with the trend (at least for newbies like me).

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    I'm still new to PA trading, learning all the time, currently on BE after trading for last 4 weeks on demo...
    Now, it might not be your issue, but the situation reminded me my own beginnings and I thought somebody else could find it helpful. Don't treat it personal.

    Quote Originally Posted by toyogo00 View Post
    The setup never trigger for the next two days and they are all within the H/L range of the pin bar. My question is usually how many bars do you consider before the setup is invalid.
    Attachment 30211
    Hi Toyo, this could help: Forex Price Action

    Fil.

  9. #2999
    Join Date
    Aug 2011
    Location
    Bedfordshire, UK
    Posts
    94
    Quote Originally Posted by FaRS View Post
    Hei there!

    Thanks for your opinion Andy.

    For me it's kinda ranging and the overall trend is bearish if u zoom out a bit more, so let's see, what happens!

    Richard
    In a way, I agree, zooming out on the weekly we have hit a HUGE support level from back in Oct 2010. I have talked myself out of so many trades by zooming out it's not funny any more (but has stopped me losing money, albeit demo atm). I'm left nursing a 1/4 of a USD/CAD short trade from a few weeks ago that will stop me out at a profit for that remaining 1/4, or continue to run. (I'm not yet a member of FSO, so don't know the recommendations are.)

    However, and it is a big however, I'm inclined to believe that we need to be trading a 'shorter' trend, I say in quotes because I don't really know. If our projection to stay in a trade is say 10 periods (for me days) then why would we look for more than 20 periods previous?

    Richard, I really am just learning this (my true learning after 2 years of chasing wacky indicators) so bear with me please.

    Cheers

    Andy
    Last edited by Gliderguider; 08-07-2012 at 05:58 PM.

  10. #3000
    Join Date
    Jun 2012
    Posts
    20
    A+ Setup?

    Comment Pls!!

    AUD/NZD Daily

    Name:  audnzd daily.jpg
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