Forex Price Action

Nice going sensei :slight_smile:


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Thanks I appreciate your comments. Based on AUDJPY daily chart, if the bar closed as pin that following down trend is it good to place sell order?

Hi guys,

I have finished reading the first 100 pages and I am still learning at the moment but I just wanted to jump in and say hi.

I found this post very useful and the PA method is easy and clean which is what I like.

Hi sirkay,

I think the AUDJPY daily hasn’t got much room to trade as it is not at a swing high.

Yes,
it worked, but the price come back now, if we dont exit at right time, it will be a trouble. trade against strong trend is always include high risky.


I cannot explain what happened here. Boom, all of a sudden bullish reversal. Are we ever gonna win this battle? Who can explain this chart to me pls. Overall trend baerish, the candles looked ok and still a losing trade. Just check out the last 2 Pins.
I joined the trade with the first Pin, singing Hosanna and the Cumbaya… Then it happened, all gone up again???

Yeah this is actually quite easy. You weren’t trading that Pin from a swing high, you were trading it from no-man’s land so really it was always gonna be a 50/50 trade.

See that thick black line marked up around the 0.8580 mark? THAT is where you would want to be playing the PB from. And if you look at it you can see historically how price has sold off aggressively from that point.

By taking the trade from such a relevant zone you are stacking the odds in your favour, taking Pin’s from no-man’s land and the results are far less certain.

Hope that makes sense.

That’s what I see too. the pin bar was formed at non-swing area , more like a ranging area. 6/6 and 7/6 formed 2 pin bar rejecting but still fail to go bearish. and I think there is a support line at the area around 0.8484.

yesterday formed pin bar rejected the support area around 0.8484 but still we can’t take this trade as it formed at ranging area but not swing. so the next move is still a myst.

U know if you move back to 4hrs, the pin that surposeto be formed on no man’s land, seem to have formed on a swing there. Its so confusing. Well, again I’ve learned. Thanks

As an ultraconservative trader, I always draw my resistance and support on daily and enter 4h trades ONLY from these levels. The intraday S/R is used only for trade management like TPs and exits. I believe this is even more important for pairs ranging on daily tf like the one above. So your pin was not on a significant enough resistance for me in spite of being on a swing high in 4 h chart. Hope that helps a bit.

Cheers
RAJ

Mhm… the EURGBP is just in a messy range right now, and the only two places to take trades from are the extremes (top and bottom of range). Bummer for the loss friend

Cheers

[QUOTE=“sirkay78”]

@Edmo
Thanks I appreciate[/QUOTE

Am still in gbpusd daily chart long since yesterday. Can I hold the position or to locked the pips?

That helps, thanks alot! Sometimes I still get confused :confused:

Sirkay,

a) On what signal/trigger did you enter the GBPUSD D1 long?

b) What was your plan (SL, BE, TP) [B]before[/B] you entered the trade?

Please reply, this is important for your next steps

@dudest
Thanks I locked the position with 23pips

Edmo, forgive me but I’m going to be brutal, no it wasn’t and if you think it was then you are not correctly understanding the concept of swing high’s and swing low’s.

I know it might seem a bit onerous but I would suggest going back to the 1st 50 odd pages of the thread where Johno covers the concept of swing points in some detail.

Shorting EURUSD H12 Bearish pin with 61 Fib. Pinbar formed from Daily res area … its a counter trend trade. i want to know a little bit details from seniors.


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counter trend, passed.

Hallo monjorra,

The pin’s counter but bouncing off a key Daily level

All the best with the trade!

I’ll be looking for longs around the 1.3285 area


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If GBP CHF D1 will close the day that way, we have a valid pin bar on a valid swing point?


Thanks, everyone!