Forex Price Action

For those of you looking at what a 2 bar reversal should look like I have an example that Johnathon has highlighted. Not sure if he has posted it on this forum.

Remember like all PA we are looking to trade them from swing points (it is number 2 in the 1-2-3 sequence) and both bars, wicks included, should be the same approximate size. It is not just enough to have a bull bar followed by a bear bar.


Bearish Engulf at resistance formed on Aud/Usd 4hr. Will be looking to go short once the low of the bar has been taken out.



Nice, I’m in the same trade.

about audusd,
don’t you think this channel could reject price?


To be honest I don’t pay much attention to channels. I am looking at horizontal Support and Resistance as the levels from which I play my trades off.

Who knows what will happen in this particular trade. I am looking to move to BE due to the short term support I can see to my left but to be honest no I don’t pay any attention to channels or even too much attention to trend lines, but each to their own.

Hi Dnagolf

Depending on how you draw your trendlines the channel might already have broken to the downside.


Bhops, if you don’t mind comparing target areas, my initial target is 1.037. Will look to move to break even at that area with remaining targets: T2 - 1.034 and T3 - 1.031.

1.03653 will be my BE target. I will actually take a portion off the table here, one third and then target recent lows at around the 1.03353

Hi peeps!

What are your comments on this?

USDCAD H4:


Not really from a swing low, a tiny bar when compared to it’s immediate predecessors and against short term momentum. What’s not to like? :eek: Just kidding Dudest, but really not for me.

Thanks Bryce!, good stuff :slight_smile:

Hey guys

Here is a link to a stunning 6 monitor setup, enjoy! :33:

Check out the youtube video at the bottom.

NTI QuadStation 6 Display Computer for Trading. Fast, Quiet, Rock Solid.

Hey all,

I have had two days of and spent time with my son. I am now back around and will be more lively again.

Okay so what a killer setup on the AUDCHF 4 hr chart we have had today!

1: With strong trend,
2: At previous support now new resistance
3: 50% fibo pullback

Very obvious and nice signal.


Hi J,

Didn’t see it unfortunately :frowning: Have noticed I miss out on the ‘non-conventional looking’ BEEBs/BUEBs

On that note, hope someone got in on the EURGBP H4 pinbar [ missed that also :frowning: ]


Hey dudest
Just remember there will always be more setups in the future to grab hold of. If we miss a few here and there it doesn’t matter.

Dipak

Another BEEB missed. Saw this one after re-marking my charts.
GBPCAD Daily (level marked on weekly chart)


True dat dude! :slight_smile:

No worries mate, I’ve been following this thread for a while now and I can see how you, spongybob and Bhops have been trading well implementing Jonathan’s method. Good job guys!

Not to make you feel any worse but eurcad had a large engulfing as well.

AUD/USD breaking the support of 1.03. Anyone say any price signal to short this? The potential win looks lucrative as the resistance is far below…