Forex Price Action - Page 62
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  1. #611
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    Quote Originally Posted by dudest View Post
    ( i feel that's still a compliment...even though i know what's coming next...



    -> On further thinking, it's not A+ because it has not been formed at a swing high following a pullback after support was broken
    Hahah okay so you know I only want to help right?

    And as always just because this is not A+ does not mean it will not work out! I am not saying it will not work, i am saying over time they lose more than they win.

    Okay for me:

    - Way to small compared to previous candles. Very small and indecisive,
    - Not formed at a swing high but rather a low. Trading from a low will mean you are trading into support and we must trade away from these levels.

    Make sense?

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  2. #612
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    Quote Originally Posted by Forex School Online View Post
    Well done. As I said I don't watch this pair as too exotic for myself. Can you tell me how you are playing as I can't see the levels etc? And what sought of RR are you aiming for?

    Good luck!!

    Johnathon
    I will copy paste what I wrote in another forum as I have no time to elaborate regarding R:R.

    The risk reward is not an issue if you identify correctly the FCL. Simply because 90% of the time a valid SPA price action setup will give you the chance, at least to break even, at the relevant FCL. Anyway, the only thing you can control is your capital exposure(risk) therefore, do this right and let the market to manage your profit(reward).

    I will add more to the subject when my time allows me...

  3. #613
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    Quote Originally Posted by Forex School Online View Post
    Hahah okay so you know I only want to help right?
    Yes, bless you man!

    And as always just because this is not A+ does not mean it will not work out! I am not saying it will not work, i am saying over time they lose more than they win.
    True, you have proved this in the past. And thanks for reminding us again ( lesson: average setups lose more than they win over time

    Okay for me:

    - Way to small compared to previous candles. Very small and indecisive,
    - Not formed at a swing high but rather a low. Trading from a low will mean you are trading into support and we must trade away from these levels.

    Make sense?

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    @Way to small compared to previous candles: you've told me that before (!), wonder why i keep forgetting it => big & obvious it should be, right?

    @Not formed at a swing high: makes sense. I think i'm understanding better why we look for pullbacks => because they create swing highs (in this context)

    Thanks bro.

  4. #614
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    Quote Originally Posted by MikeSPA View Post
    I will copy paste what I wrote in another forum as I have no time to elaborate regarding R:R.

    The risk reward is not an issue if you identify correctly the FCL. Simply because 90% of the time a valid SPA price action setup will give you the chance, at least to break even, at the relevant FCL. Anyway, the only thing you can control is your capital exposure(risk) therefore, do this right and let the market to manage your profit(reward).

    I will add more to the subject when my time allows me...
    Hey that's kool I was just asking out of interest, thats all.

    Do you have your own thread for people to follow your type of trading? and how you go about things?

    Regards,

    Johnathon

  5. #615
    Join Date
    Nov 2010
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    28
    morning all,

    could we consider this as a good setup?

    eurusd 4H

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    is this a good support?




    no, it wasn't.....
    Last edited by dnagolf; 03-20-2012 at 05:44 AM.

  6. #616
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    Quote Originally Posted by dnagolf View Post
    morning all,

    could we consider this as a good setup?

    eurusd 4H

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    is this a good support?




    no, it wasn't.....
    Hi dnagolf,
    Not seeing any setup. My EUR/USD charts look like this:

    Daily:

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    H4:

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  7. #617
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    Quote Originally Posted by dudest View Post
    Hi dnagolf,
    Not seeing any setup. My EUR/USD charts look like this:

    Daily:

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    H4:

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    The setup referred to was the tiny pin before the big down bar. Very small not at a swing low and not at the recent support.

    Would have been much better if it formed at a low and not a high, if it stuck out and was obvious and was at support.


    See my chart for support level:

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    Johnathon

  8. #618
    Join Date
    May 2011
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    342
    Nice BIG PA on AUSSIES! I missed it as I was at work
    Attached Images Attached Images  

  9. #619
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    May 2011
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    Oh, Johno the pin prior to the huge BEEB DID NOT interest me.

    Guess I must be learning. lol

  10. #620
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    Quote Originally Posted by Spongybob View Post
    Oh, Johno the pin prior to the huge BEEB DID NOT interest me.

    Guess I must be learning. lol
    Yes the BEEB was rather large and obvious! Nice post and yes your are getting there. Next after you have learned exactly what makes A+ comes the hard bit and managing trades to maximise profit whilst protecting capital.

    Johnathon

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