Hi is there a valid BEEB forming on the NZD/USD 4H? Sorry I havent been able to work out how to upload a chart. Trade to go short I see a nice pullback to resistance area.
Thanks
Shannon
Interesting countertrend BUEB Silver D1 off a good level. What do u think guys?
[QUOTE=“traderamateur;492175”]Interesting countertrend BUEB Silver D1 off a good level. What do u think guys?[/QUOTE]
Personally I’m still a newb so wouldn’t take it as it’s counter trend but would be interested to know how you would manage it, it’s a big pin and the stop would be huge unless u either tried to play a retracement or used the 61.8 level of the bar
Stops dont bother me as much since i use a position sizing calc. Howevr if i were to take this trade i would tweak my stop to below a respected BRN more than 2/3 down the wick. I dont do retracement entries. Period. That is one of the key benefits of learning johnos method. Wonder if dudest is out there…
Stops dont bother me as much since i use a position sizing calc. Howevr if i were to take this trade i would tweak my stop to below a respected BRN more than 2/3 down the wick. I dont do retracement entries. Period. That is one of the key benefits of learning johnos method. Wonder if dudest is out there…[/QUOTE]
So then your target area is around 24.5 somewhere? Would you just use 1 position or split the trade up? Just seems a bit risky for me as if you just play the break to that target the RR isn’t great with that bigger stop. I also use a position size calc but my point wasn’t the monetary value of the stop more the fact that it seems like a risky trade against very strong momentum with not that large a reward if it did work, only my opinion
Thanks a lot for your reply. I would of course always have two split positions targeting two different trouble areas. [U]I am not in his advanced course so it is NEWS to me that Johno teaches retracement entries for engulfing bars there[/U]. Now that is going to take me some time to digest…and think through. So I wont comment on that. As far as my understanding of Johno’s method goes, there is not much worry about RR, it is about picking high probability entries and trading with confirmed price action upto the next first trouble area with a reasonable reward. Wonder if ANY OF THE SENIOR TRADERS HAVE DECIDED TO TAKE THIS LIVE.
Raj
As for me, I am still in the sidelines, with buystop order on my demo account and I have not yet decided my course of action in my live account. 
…
So then your target area is around 24.5 somewhere? Would you just use 1 position or split the trade up? Just seems a bit risky for me as if you just play the break to that target the RR isn’t great with that bigger stop. I also use a position size calc but my point wasn’t the monetary value of the stop more the fact that it seems like a risky trade against very strong momentum with not that large a reward if it did work, only my opinion[/QUOTE]
[QUOTE=“traderamateur;492203”]Thanks a lot for your reply. I would of course always have two split positions targeting two different trouble areas. I am not in his advanced course so it is NEWS to me that Johno teaches retracement entries for engulfing bars there. Now that is going to take me some time to digest…and think through. So I wont comment on that. As far as my understanding of Johno’s method goes, there is not much worry about RR, it is about picking high probability entries and trading with confirmed price action upto the next first trouble area with a reasonable reward. Wonder if ANY OF THE SENIOR TRADERS HAVE DECIDED TO TAKE THIS LIVE.
Raj
As for me, I am still in the sidelines, with buystop order on my demo account and I have not yet decided my course of action in my live account. …
So then your target area is around 24.5 somewhere? Would you just use 1 position or split the trade up? Just seems a bit risky for me as if you just play the break to that target the RR isn’t great with that bigger stop. I also use a position size calc but my point wasn’t the monetary value of the stop more the fact that it seems like a risky trade against very strong momentum with not that large a reward if it did work, only my opinion[/QUOTE][/QUOTE]
I completely agree with the high probability low risk trades and the RR not being so much of an issue, but it would have to be with the strong bearish trend to be really high probability, I mean all trends eventually change or have retracements but it is safer to trade with one that large IMO, just my thoughts anyway mate and I’m still learning so don’t put to much stock in them. Wish u luck if u do take it live
Hi,
Re my post at 10.45am today for the NZD/USD could it be a 2 bar reversal on the daily chart to go long? This would be in with the long term uptrend? Sorry on the daily chart
Thoughts please .
Thanks
Shannon
I wouldn’t class it as a 2BR because of the gap, the pin formed from the 2 bars would have 2 bodies, again just my 2 cents
Thanks wookie sorry I edited my post I meant on the daily chart.
Thanks
Am not an expert, just a student of forex like yourself, but looks like that bus is missed already. It was a PA signal (though the two bars are not of the same size) off a good level with rejection of a BRN, but countercurrent nonetheless against a good momentum with the first trouble area around where the price is now…0.8200 only 20 pips away from the break of the PA signal. I did not like it enough to take it. Am sure the senior traders will comment on this later. Also we are looking at mid to short term trend not long term trend for trading off the daily charts…This is my opinion, not trading advice …
Hi Wookie,
I can’t see a gap?
Thanks
Shannon
Good observation about the gap Wookie. I had missed it. Though I wonder if this kind of a gap is a pro for the trade as it would add to the support at the base of the setup.
@Shannon - Look at the lows of the two candles and you will see the gap between the close of the first candle and the open of the second candle
I think you shoud watch 4H chart to sell that big momentum
@traderamateur I hadn’t really thought about that tbh, that is def something for one of the senior guys well above my understanding
Looks like a pin is forming on 4h, candle hasn’t closed yet, which is closer to the level I would want to short at, although atm it’s a bit small, keeping an eye on it though, the BEEB was ok but could’ve been a little bit higher up for my liking
Pin bar formed, for me that level is good, size is good and it’s with the trend.
I have placed my order at 0.8150
SL at 0.8215
TP 1 is 0.8100 where I will move SL to BE
TP 2 is 0.8050
TP 3 is left open to try and get a runner
Could this count as a PB on a swing high?
From me 3 positions:
NzdUsd
1)With the trend
2)4H PB
3)0.8200 PSYLEVEL
EurNzd
1)With the trend
2)Nice support level + Psy level on 1.57000
3)Nice PB
And AudChf
1)With the trend
2)Resistance level + Psy level on 0.95000
3) Im not shure for the bar and that worried me is traffic before…
Some opinions from the masters…?!
Hi forbiden
I think the PB on NZDUSD and EURNZD is average size, would like to see a bigger size though.
I can’t see any PA signal on your AUDCHF chart at the moment