Forex Price Action

[screenname]

Hi all,

This is my first post. I’ve read 110 pages of the thread. What about this pin bar? What I’m not sure is

1. It’s likely to close as a bear candle instead of a bull one;
2. It’s a good size bar, but previous bear candle was huge, so was the bull candle four bars earlier;
3. Some (although not that much) traffic in the past two weeks.

Otherwise it looks good to me.

Thanks for your opinion.

EDIT: Please ignore the moving averages. I don’t use them at all, just forgot to remove them.

[Paddymctaff]

THank you summary for me . my reading skills not good
I have mistakes like you but on EU

I’m buy on blue arrow with Pinbar and
hit stop loss on red arrow

Someone help me recognize mistakes , tonight =.=

Its tiny (look at the preceding bars and then look at some of the pin par examples Jonathon posts at the start of this thread and compare them to this one

it doesnt stick out at all (quite the opposite in fact)

its not at a swing low

it doesn’t close bullish

it doesnt have space to the left

[Forex_School_Online]

Hi all,

This is my first post. I’ve read 110 pages of the thread. What about this pin bar? What I’m not sure is

1. It’s likely to close as a bear candle instead of a bull one;
2. It’s a good size bar, but previous bear candle was huge, so was the bull candle four bars earlier;
3. Some (although not that much) traffic in the past two weeks.

Otherwise it looks good to me.

Thanks for your opinion.

EDIT: Please ignore the moving averages. I don’t use them at all, just forgot to remove them.

Heya welcome aboard,

question for you… from that oin bar would you say it is clear and obvious the bulls have wrestled back control?

[screenname]

Hi Johnathan,

Thanks for your question. I think I know what you mean. In fact when I arranged all windows (15 on my MT4) vertically I immediately saw that pin bar isn’t good (clear and obvious, as you said) enough, with fewer candles than those from my last chart.

May I ask another question: last quarter many short term traders were affected by low volatility of the currency market. I wonder how that affected longer term (say, H4 and above) traders. Would you say that your group was not affected at all, or was affected but not that much compared to short term traders? I know it’s not an easy question, but maybe you can tell me whether you saw significantly fewer valid setups, or have experienced lower success rates during that period?

Thank you very much. I look forward to learning more from you.

[EJ_2301]

@screenname

Hi all,

This is my first post. I’ve read 110 pages of the thread. What about this pin bar? What I’m not sure is

1. It’s likely to close as a bear candle instead of a bull one;
2. It’s a good size bar, but previous bear candle was huge, so was the bull candle four bars earlier;
3. Some (although not that much) traffic in the past two weeks.

Otherwise it looks good to me.

Thanks for your opinion.

EDIT: Please ignore the moving averages. I don’t use them at all, just forgot to remove them.

Hi, I am looking at the USDJPY too, but on H4 time frame.

What do you guys think about this PB on USDJPY H4? can it be considered a swing point?

Learn learn and learn
EJ

[EJ_2301]

update, this trade give me some pips now.
But as Johnaton told us that either a bad PB can also become a successful trade, so I still want to know whether this is a good setup or not. Please give any comments about this.

thanks
EJ

[tylermckee]

Hi, I am looking at the USDJPY too, but on H4 time frame.

What do you guys think about this PB on USDJPY H4? can it be considered a swing point?

Learn learn and learn
EJ

I’m just a beginner but from what I can see it looks like a solid trade. Recent strong up trend. Been making higher highs and higher lows. Looking at the daily it looks like a decent pin too. I’m in the trade on demo now with my first target at VBRN 90.00

Would also like to get some opinions from the pros.

[tylermckee]

any thoughts on this oilusd chart? i know trading the BEEB would be counter trend. worth it or wait for PA to go long?

[Paddymctaff]

@EJ_2301

update, this trade give me some pips now.
But as Johnaton told us that either a bad PB can also become a successful trade, so I still want to know whether this is a good setup or not. Please give any comments about this.

thanks
EJ

Sorry to say dude but I don’t love it, there is very strong downward momentum prior to the pin, (although it does ease up a few bars before it to be fair), but more importantly I would prefer a much more bullish close to the pin and for it to be a bit bigger. The downward momentum and large bars aren’t a deal breake,r but generally we want to see a big, obvious and perfectly formed pin to feel comfortable that it will reverse that momentum.

It is off a great level and with trend which are both positives, but for me it is a B+ trade

Fair play to you for posting and pushing for feedback even once it has gone in the right direction!

Something that helps me is to think if I was laying say $1000 of my own money on a signal, would I trade it?

[Paddymctaff]

@tylermckee

any thoughts on this oilusd chart? i know trading the BEEB would be counter trend. worth it or wait for PA to go long?

What do you think?

[dudest]

Gold and Silver in retrace, watching out for longs:

[EJ_2301]

I’m also looking at silver and gold. Hopefully there will be a significant PA to go long from the support line.

EJ

@dudest

Gold and Silver in retrace, watching out for longs:

[EJ_2301]

Sorry to say dude but I don’t love it, there is very strong downward momentum prior to the pin, (although it does ease up a few bars before it to be fair), but more importantly I would prefer a much more bullish close to the pin and for it to be a bit bigger. The downward momentum and large bars aren’t a deal breake,r but generally we want to see a big, obvious and perfectly formed pin to feel comfortable that it will reverse that momentum.

It is off a great level and with trend which are both positives, but for me it is a B+ trade

Fair play to you for posting and pushing for feedback even once it has gone in the right direction!

Something that helps me is to think if I was laying say $1000 of my own money on a signal, would I trade it?

Thanks Paddy

learn learn and learn
EJ

[dudest]

Anyone else fancying the huge GBPCAD D1 counter-trend BUEB?

[wigglez]

@dudest

Anyone else fancying the huge GBPCAD D1 counter-trend BUEB?

Thats tradeable?

[dudest]

My three scenarios (what I’m looking out for) for GBPAUD D1:

Short-term:

Longer-term:

Cheers!

[dudest]

EURGBP D1 at a key level, 0.8400 RN.

Hoping for a retrace and long PA at level below in order to get in with strong uptrend

Cheers!

[wigglez]

@dudest

EURGBP D1 at a key level, 0.8400 RN.

Hoping for a retrace and long PA at level below in order to get in with strong uptrend

Cheers!

Oh, I didn’t know we can play just based on just RN and VBRN. I thought it had to show s/r also.

Like the eur/jpy, was trading up to the 119, however on daily doesn’t show it as strong resistance, and I would think 120 is the better target. On 4h the 119 seems like nice resistance though. At my current time it does seem like its rejecting it.

[dudest]

@EJ_2301

Could you please explain a bit about “higher high” “higher low” “lower low” “lower high” ???
I’m still confused about that terms.

thanks
EJ

Hallo EJ,

The terms are in reference to the swings (turning points) as price is moving either up or down

An uptrend is basically price making progressively higher highs and higher lows.

A downtrend is price making progressively lower highs and lower lows.

Hope the charts below show it clearly

Cheers!

[Forex_School_Online]

@wigglez

Oh, I didn’t know we can play just based on just RN and VBRN. I thought it had to show s/r also.

Like the eur/jpy, was trading up to the 119, however on daily doesn’t show it as strong resistance, and I would think 120 is the better target. On 4h the 119 seems like nice resistance though. At my current time it does seem like its rejecting it.

That level is a support level. Not major but enough for such a stong trend. Notice the way price rejects and moves lower before gaining momentum and moving through. With such a strong trend would not then surpise for price to move back down and reject again only this time acting as support.

EURGBP DAILY CHART

Johnathon