Forex Price Action - Page 630
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  1. #6291
    Hi, I saw bearish engulfing forming now on AUDCHF maybe short after pass low of the candle tonight... Its with trend direction. I thought yesterday that is pullback but its agains the trend, someone looking this chart?

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    Also on CADJPY nice pulback with strong trend:
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    Last edited by Gangman style; 01-10-2013 at 12:46 PM.

  2. #6292
    Join Date
    Dec 2010
    Location
    Portugal
    Posts
    34
    Quote Originally Posted by varnuunas View Post
    My pinbar setup did great today. It was the first time in during my relationship with forex when I had a plan and I knew what i was doing. The odds were in my favor because i picked a setup with pinbar at support level which also matched with a daily trend line. Until yesterday I barely knew what i was looking for in the charts, but now I see what I was missing. Gambling is what i did before, because all I could care was to make a quick buck. I was pointing pinbar here and pinbar there, but now I realize I didn't even knew how complex pinbar is. I was shooting while blindfolded. It was my laziness and lack of determination to LEARN FIRST AND TRADE LATER. I Will learn now. It feels better when I have control and discipline.
    This thread is so awesome, I think I have seen it before but I was too lazy to read through the first post. But I did read it few days ago and bam! The light of knowing illuminates. I will buy Johnaton's membership for sure. I want to learn more.

    Never give up - repeat practice - succeed

    Attachment 38765
    I'm also on this trade but I went from a 12H chart pin bar. Entry a few pips above the pin bar high.
    The price is in a trouble area right now and I'm looking into closing if indecision is present.

    Name:  eurcad12h.jpg
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  3. #6293
    Join Date
    Sep 2010
    Posts
    38
    Hi all,

    Potential setup GBPAUD Daily Chart as follows:

    Name:  gbpaud.jpg
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    Bullish pin bar forming at support level. However, it is against the current down trend.

    Anyone would like to take up this trade with low risk?

    Just up for open discussion.

    Thanks.

  4. #6294
    Join Date
    Jan 2013
    Posts
    4
    Just want to say well done guys on the Pin Bar trade. I personally would have traded the last engulfing candle on the chart, The fourth candle along. What do you think guys ?, just an opinion. Please forgive I am still trying to get to grips with adding Charts and quotes. #6285 and #6289
    Last edited by lalaland; 01-10-2013 at 03:27 PM.

  5. #6295
    Join Date
    Jul 2012
    Posts
    329
    Sorry for going off topic.......

    Hi guys.......200 pips profit........my biggest win.......thanks bp.com and mr.johnathon sir.

    I have got 200 pips profit with my divergence trade with daily chart of eur-usd.

    I am very happy coz.....as i am very interested with divergence from the day i completed the topic in the school......here is my set up.......

    Entry at 1.3060

    stop loss 1.3000

    tp 1----1.3120,

    tp 2----1.3180.and there i put my breakeven point at 1.3150.

    And finally i closed the trade at 1.3260.

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  6. #6296
    Join Date
    Jan 2012
    Posts
    1,814
    Quote Originally Posted by filipl View Post
    Hi Dudest,

    Sorry to pick up on you but you're getting me seriously confused mate. It could be my lack of education and experience with this particular method, so would you mind explaining? I highly value your opinion so need to have this clarified. 3 questions.



    Would you mind adding few candles to the above chart to illustrate how would look swing low in your opinion please? More importantly - why it wasn't a swing low for you (before two pictured bearish candles have appeared after the PB); as soon as they have appeared, it's kinda pretty obvious, but how have you identified it before?



    I was getting confused here too. It looks to me like a technically very correct PB: long, 3x longer than body wick, with previous bearish move, opening and closing within previous candle, at retracement/swing (please don't tell me it isn't as it is (isn't it?) it's another lower high forming when looking at the PB, right? if not, what's your definition?. Why "not valid"? According to this method is perfectly valid in my humble opinion (apart from trading straight into support clearly marked on your chart, let's omit that "tiny" (as in my opinion locations is utterly important) detail).



    Aren't these swings? And one more swing low between first two swing highs (forgotten to mark on the chart)
    Attachment 38738
    Hi Fil!

    Thanks for frank comments, hope I can clear the confusion.

    ----------------------------------------------------------

    1) GBPAUD D1 pinbar: swing low: see charts below:

    Name:  20130109_gbpaud_d1_at_key_zone_engineered_1.jpg
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    Name:  20130109_gbpaud_d1_at_key_zone_engineered_2.jpg
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    ----------------------------------------------------------

    2. AUDCHF D1 pinbar 'validity'

    -> I clarified after that by 'not valid' I meant 'not tradeable'
    -> That is: the pin was technically fantastic, but where it was formed made it not tradeable IMO (charts below)

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    Name:  20130109_audchf_d1_explanation_engineered_2.jpg
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    ----------------------------------------------------------

    3. AUDCHF D1 pinbar 'swing high'

    -> As shown in charts in (2) above.
    -> The swings you showed are indeed swings. The issue is: the pinbar is not at the HIGH OF ITS SWING

    ----------------------------------------------------------

    Hope that clears it up.

    Cheers!

  7. #6297
    Join Date
    Dec 2012
    Posts
    22
    Eur/Aud
    Hi All,
    See the attached Eur/Aud daily - BUEB forming at swing low and the weekly chart where a pin bar is forming. Potential long trade on close of daily. Potential to previous highs at 1.2780. What you think?
    Daily - BUEB forming
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    Weekly chart - see the PB forming at swing low.
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  8. #6298
    Join Date
    Jan 2012
    Posts
    1,814
    Quote Originally Posted by liangko View Post
    Hi all,

    Potential setup GBPAUD Daily Chart as follows:

    Name:  gbpaud.jpg
Views: 1695
Size:  23.1 KB

    Bullish pin bar forming at support level. However, it is against the current down trend.

    Anyone would like to take up this trade with low risk?

    Just up for open discussion.

    Thanks.
    Hallo liangko!

    If it closes as is (as a pinbar), I will pass, because right now it is under (new) resistance. I will instead look for short PA on H4 (pinbar rejection appears as a pullback).

    If the current pinbar however closes as a BUEB (by climbing higher through the S/R zone), I will go long with it.

    Cheers!

    Name:  20130110_gbpaud_d1_explanation.jpg
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  9. #6299
    Join Date
    Dec 2012
    Posts
    27
    Quote Originally Posted by Dobo
    Eur/Aud
    Hi All,
    See the attached Eur/Aud daily - BUEB forming at swing low and the weekly chart where a pin bar is forming. Potential long trade on close of daily. Potential to previous highs at 1.2780. What you think?
    Daily - BUEB forming
    <img src="http://forums.babypips.com/attachment.php?attachmentid=38804"/>

    Weekly chart - see the PB forming at swing low.
    <img src="http://forums.babypips.com/attachment.php?attachmentid=38805"/>
    Dobo

    Draw a line through 1253. Snack bang under support this one.

    RMc

  10. #6300
    Join Date
    Dec 2012
    Posts
    100
    Hi, I am going to enroll into FSO, can any senior member post a genuine review of the members' area?
    I am asking only because forex world is full of scams right now, don't wanna risk hard-earned money on something not worthwhile. Hope u guys understand. Thx in advance.

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