Forex Price Action

It is all the great people that have been in here for a long time, the great seniors and all the new people that come on board the genuinely want to learn to trade price action!

Howdy All

Just thought id come say CONGRATS to Johno, well done dude!

Now that was #9999 go ahead and be #10 000

Oh dear, you got in before me!

Hey Bobba and welcome aboard,

as long as the other side of the pin is not taken out it remains valid.

It can stay this way for many days. The pin is a reversal candle and it can take a while for price to build the orders for the market to reverse. This is also why quite often you will see a pin bat and then an inside bar straight after. This is the market shifting orders and getting ready for the market to reverse.

So there is no rush and contrary to popular belief this waiting can actually be a good thing and a building of orders for the reversal of the market.

Johnathon

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Johnathon, is there some kind of way to adapt PA trading to lower time frames like 15, 30 minutes?
Im trying to win a trading contest to boost my deposit but it lasts only 1 week so its hard with 1 A+ setup/week any suggestions? :slight_smile:

You have won the grant prize from Johnathon for hitting #10000! lol Apple gives iTunes app voucher i wonder what johnathon will give? :smiley: hahahaha

Thanks Johnathan, as far as i can remember, this hasn’t come up here before?

Any thoughts on EURJPY.
6hr showing 2BR at an level where resistance has held in the past.
Not the greatest 2BR and i would prefer it with the trend, but the level is good.


Large 4HR BEEB forming at resistance on XAUUSD. BEEB also forming on the daily.

  • With the daily trend
  • At swing high, resistance level
  • Large PA

Next S/R level on the way down is at 1252.

Thoughts?

EURGBP D1 having a BEEB , but the space too less to go

Exact thought man. EXACT. We are twins. lol

Yeah and against the trend as well.

Not sure that the level at which PA is forming is a strong enough resistance level…

It has now been tested 4 times on the 4HR chart and is the most logical swing high on the daily chart in my eyes. Where would you be looking to short it from?

Also it’s a big round number of 1300.

About the EURGBP, why not to wait for longs around 0,86? It has broken strong resistance and I’m personally waiting for pullback to that level.

Here one different point of view…
1)We have PB on Support zone and VBRN 78.000
2)We have IB after PB who tell us if price break it it will go up
3)The momentum is up

SgdJpy daily chart.


What’s your opinion guys :slight_smile:

Looking forward some PA on that level…Any comments? GBP/CAD H4


Thanks
Aweforex

Some potential set ups. Might take one of these.

XAU/USD Bullish engulfing bar

Pros

  • With the strong down trend (gold has been taking a pounding as of late)

Cons

  • Okay size, would be nice if it as bigger
  • right below it is a support level, however like I said, gold has been taking a pounding lately with a strong down trend

CAD/CHF Pin bar

Pros

  • Decent size pin bar
  • Occurs at good level

Cons

  • Against downward momentum
  • Candles before it are quite large

EUR/GBP bearish engulfing bar

Pros

  • Good sized bar
  • At significant level

Cons

  • Against slight uptrend

Thinking of going with the EUR/GBP or perhaps XAU/USD since gold has been on such a strong downtrend lately

Isn’t the xauusd have a bearish engulfing bar?

The EUR/GBP is sitting right on top of a major support level. It served as resistance for the range that started in March, where we broke out of two weeks ago. I would rather look for that level to serve as support now.

The markets are a bit quiet right now but usually I would look for 6-8 really good trades a month.