Forex Price Action

GBPJPY has bueb in the daily chart. NZD/jpy looks going up still. Just my 2 cents

Hi all,

Anyone in AUDUSD, AUDJPY, USDCAD or NZDUSD trade? I traded USDCAD and exit target for +70pips!


Regards,
Toyogo

Yes, I was long on AUDJPY & NZDUSD. Both of them have hit my take profit level.
Also PB of 23-July has fully hit my take profit level of $1620. :8: :8:


I took USD/CAD D1. My first T/P target hit and the second portions S/L moved to BE+1. Nice trade! :wink:

P.S. Can dudest, bhops or Johnathon comment this USD/CAD D1 BEEB? Was this a valid trade according to this method aka PA?

Richard

You can pretty much do all of that above. You can set profits before the trade is hit etc It doesn’t matter what charting gear you use though as long as looking at correct charts.

Johnathon

Yep pretty much. So for these bearish examples we would need price to close below the resistance area. If price closes above we would be trading straight into a key level which is not the smartest.

Johnathon

Think your getting your round numbers and very big round number mixed up. The psychological levels are the very big round numbers such as 1.000, 1.0500 or for USDSGD 1.2500 etc

As this was a round number we have to factor it into the trade and how I factored it in was by setting entry under the round number so entry was taken when the level was broken.

Johnathon

Why are you in this one? It is not yet finished forming and until it is formed we have no idea what it will be. price was trading into traffic and as we would expect price stalled at this traffic.

EURGBP 4HR CHART


c’mon aussie c’mon c’mon … just sold half my audusd long… at $1.0405… letting the other half run with a profit protection stop in place :slight_smile: will dump if i get spooked…

pw

Hi Johnathon,

I would like your comment about these counter trend setup. Are they A+ setup?

Pls also comment the link here, are these trend setup A+? http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action.html#post378356



Regards,
Toyogo

Predicted last week:



Current PA:

Momentum slowing down (doji!) an bullish engulfing forming at 78.0

I would highly appreciate some explanation please to this situation:
If we get for example PA signal (pin bar or doji) to sell (going with the trend, & with existence of S/R levels, but previous bar was a huge bullish/ high momentum candle as shown for example on attached chart. Would we reject this set up based on this previous huge candle & why? thanks




The huge reverse candles as in this case mostly happen at the beginning of huge trend reversals. If our PA signal was larger than the previous candles then we could say the bears still got the power but I for one am not so sure of it. So, in my opinion what we call a PA signal here at EURJPY indicates an indesicion, not a sign of continuation of the bearish trend.

This is how I see it. I’d be glad if experienced traders shed light a bit for us to understand better.

Was away for the day and came back and whoa!..what happened?! Crazy movement!
:slight_smile:

AUDUSD: the mentioned daily candle ended up forming a BUEB and continued higher; hope guys got in the trade


Dudest please read previous posts, I got one for u there as well. :wink:

Richard

I took USD/CAD D1, looked better, IMO. But still both were good. I made some “doe”! :wink: And 2nd portion is still running.

Cheers,
Richard

I can’t post a chart becuase I do not have NY close. Anyone seeing USD/CAD boucing of it’s support area of 1.006 ish looking like a possible continuation of it’s uptrend? (4hr is best area to see bar signal)

Hi Rich,

Sorry for delayed response, wasn’t around.
Took the pingulfing bar (sell stop entry order).
TP1 got was hit (line in the middle), SL of the rest moved to TP1. Aiming for recent lows


Bullish trend? I don’t think so. More like bearish.