Forex Price Action

Did you end up taking this trade?

Yes I was entered long when it broke higher.

I will recap when I take profit or get taken out at BE.

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Hey all just to recap this live trade I posted in here. Price has now shot higher and I have taken 50% profit and moved remainder to break even. This trade is a great example of how powerful Price Action trading can be when played from the right areas and manage corrcetly.

Safe trading to all,

Johnathon Fox


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Good thread. Thanks.

Your very much welcome. As I get more time I will post more and more,

Johnathon

Well, i do price action mixed with fundamentals.

Regards.

Really nice pin formed on the EURUSD 4hr timeframe. Apsolute A+ setup.

With the trend, at a pullback to 50% level of last swing and then nice pin bar reversal.

Very nice!


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Hey Johnathon a really nice example of Price Action at work and with a minimum of indicators! I love clean charts.

The Euro pairs had some nice pullbacks last night and I played a similar set-up to the one you’ve posted but on the EUR/NZD.

Trading with the dominant trend price eventually pulled back to a relevant swing zone that I have highlighted on the Daily.


I scrolled down to the 4 hour charts (which is about as low as I personally like to go) and a Bearish Engulfing bar was able to trigger me into the trade. One Price Action signal like this per week can make you a rich man!


Looking forward to swapping more PA ideas with you as we go along.

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Great trading!

The above setup I posted in the EURUSD did fall a lot lower into recent support as well!

Nice trading,

Johnathon


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Hi Johnathon

Nice looking setup just 3 things trend, support and resistance level and setup bar, that looks like a real user friendly way to trade. Simple is often best so many people over complicate things, this is a simple set up with good edge but i suppose the trader has to have the patience to wait for these to come up?

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Thanks Ambo,

I just did a video you may be interested in…

Safe trading,

Johnathon

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Hi Johnathon

This was a sweet trade from a nice S/R level, thank for posting this trade it made some nice pips for me. A nice Price Action signal where old resistance becomes support its a bit tricky to see 12 hour bar on mt4, but an experienced eye can pick it up, I guess especially if you have a nice horizontal line marked.
Money Management seems to be a big part of what you do also, protecting capital by moving to break even after taking some money, seems to work well for you as well.
Nice work thanks for sharing again.
Ambon

Ambon

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It is a hot topic for forex traders.

Read more: http://www.forexpulse.com/f

Well said Amanseo!

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Price Action setups this week have been very minimal this week as price has been moving to some very clear and important levels.

EURJPY

The EURJPY has been in a strong downtrend for 12 months. Taking shorts from pullbacks in this market has definitely been the correct play. Price has been rotating higher into previous support. We would look for this previous support to hold as new resistance and for a clear Price Action signal to get short.

If this resiatance level does not hold it could signal a more significant move higher.

EURJPY DAILY CHART


USDSGD

The USDSGD has broken lower of an important support level which could signal a move lower. We would look for price to retrace to this old support and look for it to hold as new reistance. If Price Action presents at this level traders could look to get short.

The chart below is a 4hr chart showing that the most recent momentum has been to the downside. Trading on the intraday chart with the momentum in your favour is a much more favoured method than trading against it.

USDSGD 4HR CHART


Regards,

Johnathon

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EURJPY 4HR Chart

A nice large Bearish Engulfing Bar has formed with the trend at resistance and at big round number 100.00.
If it breaks lower to confirm it may test recent highs.


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Here is a chart of a great Bearish Engulfing Bar setup that formed on the EURGBP last night on 4hr chart.

Solid setup at key level. Very nice!!


Hi Johnathon

That was a real clear level to trade from under the BRN, nice easy price action, that’s how trading should be just wait for the trade to come to your S/R then a priceaction signal and then the money in the bank nice one again-- thankyou.

Here is a live trade I am in right at this minute.

EURJPY 4HR BEARISH ENGULFING BAR.

This was the same setup I posted live above when it was forming. Price gapped down this morning. I had two options. Take profit or let price roll back up to close the gap and then I would expect the gap to act as resistance for price to again go lower.

I have held and price is no back up at the gap area as I write this.

I will post 2 charts. The first is the setup on the 4hr chart.

The second is on the 1 hr chart showing the gap and the area I expect to hold as support.

EURJPY 4HR


EURJPY 1HR


Safe trading,

Johnathon

I’m seeing this same way Johnathon, I am holding still as well. It is not uncommon after price creates the gap to see it closed at some point.

Nothing is ever certain in trading but I’m confident that the Price Action we’ve seen with this pair at such a nice level should mean a continued move down.