Forex Price Action

Also I forgot to add something…

You would also do well with doing away with the pairs such as EURSGD etc

I know you want more trades and that is fair enough. You would do better with adding more time frames such as 4hr,6hr,8hr,12hr and other markets such as oil, indices.

At least this way the markets are a lot more stable and you are not starting behind with silly spreads. You will also find the bigger pairs and markets far easier to trade.

Johnathon

Actually i did draw the SR line before, maybe i did not draw it accurately as sometimes going through many pairs and draw SR on them, i tends to get a little confused. And ya i realized the consolidation after i went in. Im going to put that down in the trading journal :slight_smile:

Im happy i got stopped out and learn from market and luckily im still demoing.

Thanks so much on taking the time to correct me even though im not in your course. I appreciate it.

Btw, which broker you suggest i go to for the oil, indices?

What? Well that’s it I am not helping you any more then! :slight_smile:

Shoot… shouldnt have mentioned that lol hahahahhaa

Important: Forex pairs range far, far more often than they trend.

Traders are often caught up always looking for the trend in every pair when more often than not there is no trend.

Clear case on the GBPUSD there being no clear trend either way.

You can have short term momentum, and clear on the GBPUSD that is all to the downside, but as for the trend there is none. We are in clear sideways action just as your chart clearly shows. So don’t worry about getting caught up in finding the trend when there is none. Identify the range and learn to trade with-in it.

The best way to trade ranges is not to get caught trading in the middle. The middle of ranges is where price can chops and turn and stop you out quite easily with whipsaws. Look to take trades from the extremes or in other words take trades from the highs and lows of the range, but not in the middle. That BUEB the other day was an example of a signal in the middle of a range. This would be much better down at the low of the range where major support could be found and there would also be more space to move and the risk of price chopping would be a lot less.

Johnathon

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I’m quite interested in this as well, strictly to look for setups and watch the charts for now.

Does anyone have any good broker recommendations for oil, indicies, etc?

Hello Johnathon,

I’d like to get your advice about managing these trades if you’re currently online.

Thanks a lot!

Hallo,

Does Mr J’s post #9736 settle it?

http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action-974.html#post506528

Cheers

Check out: AxiTrader, HotForex, GoMarkets

Mr J,
Would you be looking at trades setup in the EURUSD for reversal as it will soon touch the low/low of the range? Or continuation of the current downward momentum? Look at my chart as I am already awaiting signals, but been confused about going against the momentum as you said earlier on this topic, and avoid loses, or expect a rebounce on the low, as we are “ranging”…

Thanks again for this amazing thing you are doing here:


EDIT (ONE LAST ? MR J)


As I see the USDJPY there is a consoloditation (resting) (winding up), but where will it go? Would you set orders above and below of this box? to catch the next momentum? with a trailing stop? or it wouldnt be a winner A+?
Please advise doesnt matter the time you take, but answer please, this is for learning purpose so fat I already blown one account before getting stopped at this thread and demoing…

Regards,
PipDom

[QUOTE=“PipDom;506599”]Mr J,
Would you be looking at trades setup in the GBDUSD for reversal as it will soon touch the low/low of the range? Or continuation of the current downward momentum? Look at my chart as I am already awaiting signals, but been confused about going against the momentum as you said earlier on this topic, and avoid loses, or expect a rebounce on the low, as we are “ranging”…

Thanks again for this amazing thing you are doing here:

<img src=“301 Moved Permanently”/>[/QUOTE]

The chart is for EURUSD?

Yup I edited the post right away… still sleepy :34:

Hey traders!
Here are some setups.

GBPAUD 4hr
AUDUSD 8hr



Currencies? TF?

what pairs are those? :stuck_out_tongue:

have you looked at the weekly for those pairs?

I just did after your reply :-D…

Look solid enough. Only thing I would have said is be very carefully trading intraday leading into the NFP in US currency pairs. This should generally be avoided leading into this announcement as the market will go nuts and picking it is like flipping a coin.

Thank you Sensei, you’re right about the NFP.

Thanks too. Also with NFP, are there any possibilities that there will be some changes soon?