Forex Price Action

speaking of two bar reversals, they’re everywhere today! :eek:

A good start I’d say! As there was solid resistance you were expecting to hit, it’s not unreasonable to take 100% of your trade out at that point. I tend to open multiple trades on MT4 all at the same price with the same initial SL, but with different TPs. In this instance you could have scaled out 2/3 or even 3/4 of your position where you did, and leave the remainder open with the SL brought up to BE or a valid area of support. It’s an easy way of developing a plan for each and every trade you do, which shouldn’t be any onerous task if you are only trading an average of half a dozen trades per month.

Just a thought, I find it takes all the pressure off when I place my TPs automatically on MT4, that way I don’t miss out on the daily charts when I check my screen at the NY close each day.

I’m still learning more and more each week, stress levels are much reduced since my early days of feeling I needed to place 10 trades a day with tight stops to make any money!

Andy

I just went short on GBPAUD which looks promising.


  1. Maintrend being downside

  2. Price action signal (doubled, looks weak though, small pinbars)

  3. Price at relevant level, support turned into resistance.

Opinions?

Hey thanks Ang.

Different strokes for different folks.

It all depends what suits the individual. There are many ways to make money in forex markets.

If someone doesn’t understand a method or it just does not sit with them well it is clear they need something else. The other thing is it methods need to be simple.

Safe trading,

Johnathon

A little trigger happy? Use entry orders rather to stop you entering at market.

Cheers

We are only concerned with the short term momentum. That is why the 1,2,3 pattern suits out style so much because it shows change in the short term momentum.

The chart below has an example. We are only concerned with recent move and trading with it. The reason for this is because of the length of trade. We are only trying to jump in and ride swing back and fourth. Other traders may be after large chunks of the market which they will stay in trades for a few weeks and months but we are normally only in trades for days tops.

The black arrow below shows what others may be after, and the red arrows show what we are after. Just remember we are simply trading swing in the market.


Hey all,

I am super busy making up a few new things and will be a little quieter in here over the next 2 weeks or so. If anyone needs me or has questons they can email me direct at <[email protected]>

I will be back around soon. I just need to knuckle down for a while and finish of a few things.

On another note that setup I posted of the GBPUSD 2 day Pin Bar/2 Bar reversal has come of to the downside. I did not personally take this setup but traders who did would be sitting pretty right about now!

GBPUSD 2 DAY CHART


Safe trading and talk soon,

Johnathon

How come this guy got banned?

i dont know…
in all honesty i think the thread was a canvas site to recruit members for his site and get guys working finding trades for him…
i didnt mind though because i actually learned some stuff from the guy…
plus he was plugging pepperstone and when anything else was mentioned that wasnt pepperstone…he kinda got upset.
i think he maybe has connection with pepperstone, they are australian based company…and he is aussy.

but i give him his due…he pulled the wool over most peoples eyes…and if he was doing all that stuff which is just my opinion …then credit due …fantastic marketting. top drawer.

but you cant out fox the fox.

it was so obvious from the 1st page of this thread was to push readers to his member site. If you go back to the 1st page you can see I think it is bhops come in and start contributing like he did not know Jonathan, but then Jonathan decided to share the ,fact Bhops was a member of his site.

Anyway the info he offered was enough to get most started on this PA. but think of it as a discount to his site.

I would laugh when people would come on here…'oh thanks for your time, thanks for sharing", blah blah…so obvious this is internet advertising, just be straight about it from the start

one other thing about fx trading,if any of you had a very profitable way to trade, i mean very profitable, would you spend your time trading it or start a memebers site showing others how to trade it, think about it, think what would be more profitable.

but im grateful he came on…

as i only work a few major pairs…and this thread showed me that these A+ trades are worth taking on obscure crosses some of the time…so now i do my normal trading…and i have a wander in the thread to see if you guys have come up with any obscure cross pairs that i dont bother with …that may have A + trading opportunity…and if i liked them i checked em out and maybe took the odd punt.

he also enforced lots of good stuff about good signals and bad signals and buying at the low and selling at the top…very important stuff…

so it was great really from a free learning point of view whilst it lasted.

i wonder how much the training for life cost ?

aside from gaining new recruits i think it would be stretching things a bit to think he was depending on newbies here to tip him off to possible trade ideas (lol), especially considering how rarely they occur

i never saw any getting upset by johnathon when other brokers besides pepperstone were mentioned and i read the whole thread diligently and took notes the whole time. would be nice to know which posts he did get upset in. johnathon also said he only uses pepperstone for the mt4 charts and places his trades with another broker which he kept confidential

@brinkfx: $249 us lifetime membership

not a bad price 249 …can make that back in a couple of decent trades.

USD/CAD 4h TF… D1 down trend and large 4h pin @ daily resistance / pullback


Recruiting / Advertising aside, I will miss Johnathons contributions. This is/was one of the best threads on Babypips IMHO.
I have no need to pay for advice but found the posts in this thread interesting and valued.
I regularly dip in to see whats what.

So I’d like to say thanks Johnathon for starting it off and for the people who posted many good set-ups.

Best wishes,
Pablo

Hey Ang!

Just thought I would correct you as I know which thread you are speaking of. The daily is used for sup/res, the 1 hour is used for the setups (as it is an intraday method) and the 15 minute is just used to time the entry once price reaches the desired level. Hope it clears it up…

Happy Trading :slight_smile:

Very nice setup!!
I think this is a A++++ setup

Not really. I wouldn’t take it. And for me there is no valid PB.

USD/CAD H4


But now I’m looking at this:

AUD/JPY H4


Richard

Honestly!? For real!?
You guys obviously have not come across real scammers to know the difference!

@Brink:
-> You think Johnathon needs newbies/anyone to spot trades for him?! C’mon!
-> And since when was Pepperstone the only choice? How often has it been emphasized that all one needs is a “5-day NY-close broker” (with Pepperstone being the one he used)?!
-> @Wool over eyes: has anyone come on here and said that these methods are fake/did not work?! Has anyone come on here saying FSO was a scam?! Where are you getting this stuff from?!

@Fergiebom
-> It was obvious from the first page of the thread that Johnathon was sharing a passion he has ( fx trading via PA ). Have you even traded the method long enough to know whether it is profitable or not? Have you tested the concepts and given it chart time to see if it really works?! All I can say is “your loss buddy”
-> Actually, trading + teaching others how to trade would be doubly profitable, because having a group of profitable traders makes ones trading even better.

Yes, Johnathon does run FSO, is that wrong?! More than that, he has a passion for forex trading. How many full-time traders do you know of that actually go through a thread discussing what gives them an edge in forex?

I don’t usually rant like is but I’m honestly disgusted with how you guys have belittled what Johnathon has done here. I’m even more disgusted that you did not have the guts to say all this when he was still here. This is one of the best threads in BP, don’t even try to cheapen it to ‘internet advertising’

Dudest

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