Forex Price Action

Hi Szatek,

What did you use as clue for long entry on GBPJPY?
( a chart would be nice )

Thanks!

This pair is also on my watch list, but I have my potential trigger zone just a little further up around the 1.0040 to 1.0070 area which acted as support 3 or 4 times since last November & has resisted the price action as many times so far this year.

Hi dudest,

Sorry for not including charts but I don’t have much time because I’m checking graphs while at work. There was a nice pin bar on the 4 hr chart. If you check daily chart for that pair you can see that it might be a really important level as it acted as resistance back in late October 2011.

Cheers,

What do you all think of NZDJPY 4HR? I don’t normally post live charts in here…


same with my analyze, i am also look at 4H PB and declined at important S/R so for today i win…for it thanks for john who share this technic…

This my chart, sorry already TP :


Look Good PB at that level…is that Grade A++ PB ?

Dude,

do you not think that price did enough? or what would have been expected? In other words you can only expect so much. Basically when we enter a trade we can only expect price to reach the next support or resistance area. From there it is anyones guess… Do you not think this did reach that level and then turned around?

What were you expecting?

From such a small signal I think it did very very well and gave you a chance to A: Take profit and B: Move to break even and manage your trade.

This was not a trade for me but it was rejecting a very important round number on this chart of 1.000 and it did reach the next logical support.

You maybe need to look at trade management a little closer??

Johnathon


looks good doublebottom, with a bueb @ swing low,
i think we will go up, but just a little, because of the resistance you’ve marked

Is there anyway you can zoom your chart in to make it clearer so I can see? I can’t see any candles… Then maybe I can comment.

On my chart I do not have a pin bar at all so we most likely have different time frame brokers. So if you can make your chart a little clearer or make it more zoomed in would be great.

Johnathon

Hi Guys, this may be a horrendusly noob type question but I have noticed today that I came home from work to see at least 3 very nice signals that I am too late to take - short AUD/CHF, long CHF/JPY and and long EUR/AUD (all on dailys). Firstly would welcome feedback on those signals as they all seem solid to me, but my main question is how do I know when the daily candle will close for the different markets? I am in Australia and don’t get to check the markets until around 7pm Sydney time (its 8pm right now)

Thanks for your help!

Hi Johnathon,

You are getting me really worried now. I was convinced I was using NY close time charts but I’m beginning to doubt it. Please find attached 4hr pin bar.

Cheers,


Would it not be better to wait for the price to reach the previous support level that you have marked and wait for a signal to go short? Such a clear downtrend and not much breathing room from current long entry signal to the marked level (1st target), vs where we would have to put our stop…

I agree with you, I’d rather wait for PA signal to
Form at resistance marked overhead

OK so I see where to confusion is coming in. I simply looked at Bird’s chart without fully reading all the posts behind it. To behonest I was really confused and could not see the chart and that’s why I asked for another one.

The charts you are using are correct, don’t stress.

I am still confused as to what bird means with the last questions. What does this mean:

“Look Good PB at that level…is that Grade A++ PB ?”

Is this referring to the trade already gone or like I was thinking a new possible trade? That’s where I think I was getting confused. I was thinking bird was talking about a new trade possibility.

Johnathon

Phew. I will leave it to Bird to reply.

That is definitely not a bad way to go. Can you not do both? For example if you can see price has a very strong chance to go higher into this level could you not go long and take profit and then look to short and make money coming back the other way?

Okay so one way someone could play if they wanted to do both is they could take a long at the break of the BUEB at place a stop below the support level. Now note we normally place the stop below the candle low but sometimes this can be tweaked. I don’t want to go into this to much but this could be an possible option and would cut the stop width and increase the RR. Traders could then set a target of the resistance I have already marked and this would be over 1/1 risk reward.

Then as said traders could look to short.

This is all hypothetical obviously and definitely not trading advice as the trade has already been and gone. I don’t want to go to much into stops and trade management i,e targets and protecting capital etc in here.

I hope this helps and answers your question,

Johnathon


If price does get to resistance marked its a very good RR trade, im confused as to why you call that a little move. Someone also commented that its in a down trend? Really???


i mean if the last PB can be graded as PB with A++?, because i am still confuse which one PB with perfect setup…

Sorry john,

i am already tell that " My TP already got Hit ",because someone ask @szatek to post picture, but he cant then i am trying to help by uploading my picture,but my trade was already gone…

forgive me for asking what must be the blindingly obvious, but what does BEEB mean?

Bearish engulfing bar

Hey cuddles

Price Action must stick out and make a statement. Here is a BEEB, (Bearish Engulfing Bar) and BUEB (Bullish Engulfing Bar)

Cheers mate