Forex Price Action

Hello,

I think you may need to go back and read my replies to you. I have and exactly what I said was:

[QUOTE=]
I couldn’t tell you which way this will go so don’t close it because of what I said. If I had to lean one way I would guess it could possibly go higher back into resistance.[/QUOTE]

So little unsure where you thought I wanted you to close the trade? As all who read this thread know I can never give trading advice.

Just a few things I thought I would check with you. Were you running a stop on this trade? The Pin bar you posted about had it’s lows quite clearly taken out and so would have been stopped if you had the stop running below the low? I had hinted that the pin you were trading was not a good setup and in the chart below you can see the lows were taken out.


I stated in my previous messages to you that the Pin you were trading was very small and also not of support. You will then notice after your setup formed another bullish rejection bar formed. This DID form of support but we didn’t talk about that as that hadn’t formed when you were posting.

The last thing I also really wanted to say is I hope you don’t get into a habit of playing these very average setups. As I said in thre quote above I can’t possibly know which way the market will go but what I do know is that whilst you can get away from time to time playing really average setups like this Pin over time you will lose far more than you win. If making money consistently from forex was as easy as picking any random pin that’s not formed at a support or resistance everybody would be rich!

Safe trading,

Johnathon

highly appreciated my friend…looking forward to hear more from you

Eeeh…not to be a wet cloth Machal, but brokers having 5-day NY-close charts have repeatedly been mentioned in the posts of this thread, and Johnathon likes his thread kept on topic; discussion on brokers will do exact opposite. For your benefit (and others) [ and also because i answered Ariffx on his broker question ], I will put the links to two of the posts below:

-> Post #687: 301 Moved Permanently

-> Post #821: 301 Moved Permanently

Cheers,

I don’t understand how do u? Do I like it like that? How?

Sensei speaks… Bullish Engulfing Bar Sends EURUSD Higher

The best play at the moment may be to sit aside and wait for a decisive move either way. Once price has moved through or away from this resistance zone it will be much clearer what side of the market is best to trade on.

Hi,

What do people think of this BEEB on XAUUSD H4?


Hey all,

I have just written something that I think some in hear may like. Click here: [B]Price Action Holy Grail - Support and Resistance[/B]

I hope everyone has a top weekend.

Stay safe,

Johnathon

1 Like

Dudest, this is to answer your question on my USDJPY trade

Close any yen trade 1-2 hours before high-impact JPY news like those in today asian session.
I tried to not to discuss any news to respect the thread starter’s intention to purely discuss price action on S/R levels.

Hi Traders

I have a little question about the BEEB and the BUEB.

I have read on one of Johnathon’s articles that they should be traded at swing points. Now my question is if they are also
reliable if we trade them on retracements meaning normal key horizontal levels with the TREND? Or should it be a on swing level?

I don’t know exactly if Johnathon uses dynamic Support and Resistance levels on his charts, but I do so. And If price retraces back into the Dynamic S/R levels, there we can also trade the BEEB and BUEB.

What do you all think about it?

Thanks

Hello,

BUEB formed on fibre but it’s straight into resistance, leave alone?


Thanks very much for this. I guess this is specially meant for me it really opened my fx eyes and fx mind do have a wonderful weekend.

Price closed below the resistance; will be interesting to see what happens next week.

Nice weekend y’all


Yes. Trading from retracemenets in a trend is the best way.

No we dont use anythging other than proven support and resistance.

If you go through the first part of the thread you will tons of examples of taking engulfing bars from swing point that are retracements in a trend.

Hope this help

Yes Soupdragon, leave alone…
Only take bullish PA from support/swing low (i.e [B]buy[/B] when price is [B]low[/B], [B]sell[/B] when price is [B]high[/B])

Cheers!

Good stuff!, thanks

Your system is a good one

Since Ive found the thread I am just using Pa on key levels to determine my entry level. And yes they are profitable. But there are a lot of uncertainity since I am also trading against the trend . I now am moving to the next level that is trade like experts(duhhh) I am just not sure if I am getting the concept right. This is my example I am seeing a pin bar on the 4hr chart for audnzd. It will go up. But will trade in these two scenarios on the graph

  1. look for Pa if trade goes down beyond the now level and will wait for bounce back at 1.2770
  2. look for Pa if aud nzd did not able to break the support and retraces back to 1.2850


Hello all… I’m not sure how the Greek elections are going to affect this trading week, but here is a nice setup on the 4 hour AUD/CAD charts. It’s kind of hard to see… I have it zoomed out so I could view the strength of the resistance and it seems to be pretty strong. There is a solid pinbar right on the resistance line I have drawn.


. You maybe right. And it also have been going up for weeks. Time for correction. And might go up again since this is the trend. Is it relevant that it closed above 1.03. For me will wait for bounce…By the way Im a newbie dont take my word for it. im just practicing interpreting charts for myself.

Yeah if youre waiting for a retracement you could look around my green line for a bounce