Forex Price Action

Hi Pipoff,

There was a 1,2,3 reversal pattern in play,indicating that the trend changed from down to up, no?

Cheers.

[QUOTE=“Kasravi;526854”]

Hi Pipoff,

There was a 1,2,3 reversal pattern in play,indicating that the trend changed from down to up, no?

Cheers.[/QUOTE]

My thoughts as well

I was looking at that too, look up a few posts, I had a look at the chart again, take a look below at this, it has broken from a trend line and support is very close around the 1.15578 area, I would be careful with that one.


The key word there is “almost”
I was also looking at that one, PA is just too small for my liking, no point taking a trade just for the sake of it, only take it if it is A+ :slight_smile:

Hi heelflip,

You are saying it yourself(that), it is almost a 2Br,so there you go. Why trade a setup that is almost a setup.

Cheers.

Usd/chf daily

ranging.
Waiting for signal.
Inside bar formed.:33:


I am just new here but you will be told that in this thread they do not trade the IB

Also this setup was discussed on that same page and the one before and it turned out to be not a real 2 BR so, for this thread, it is a no go

Hey Pipoff, if I was you, I would wait for some form of engulfing bar to better confirm it, look at all the previous downward moves, they all where started by big massive bearish candles.

Xag/usd 4hr:33:


Thoughts on the 2BR on the EURUSD? The fact that the market shot up and held above 1.3200 by NY close is something to really consider. While I would have preferred seeing an EB and the signal larger, this is still a very key level and the price action size wise is comparable to the last few bars.

it has been stuck at 1.3200 - 1.3211 all day keep hitting that resistance line but not breaking through it so maybe tomorrow

Waiting for the same!
:cool:

Hi Krugman:
Hi see a BUEB on D1. I don’t see the 2BR. Could you please check my chart?
I didn’t take the PB since I expect resistance at 1.32.
Regards,


EDIT: First few pages have helped alot! Thanks guys!

[QUOTE=“mselva;526881”]Hi Krugman:
Hi see a BUEB on D1. I don’t see the 2BR. Could you please check my chart?
I didn’t take the PB since I expect resistance at 1.32.
Regards,<img src=“301 Moved Permanently”/>
[/QUOTE]

Both the body and wicks must be engulfed, in this case the 1st bar in the signal is protruding below the 2nd bar.

Hi apple Forex, welcome.

Answers to your quiestion on pages 1 to 50.
Good luck!

[QUOTE=“Apple Forex;526917”]Hey guys,

I’m still new at this, but here is my live trade with my micro account on a Daily AUD/NZD pair with a sell stop. Incorporating Price action along with Ichimoku can be a powerful combination. Is this a correctly formed pin bar? Does the candle have to close bearish? It has a very small tail as well. Let me know what you guys think!

I’m risking 1% on this one, so I’m willing to wager a few cents to learn something! Helps with the psychology! :stuck_out_tongue:

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

What we use here is pure price action from key horizontal SR levels, simple as that. I believe if you stick around long enough you will see price action alone is powerful enough, adding to it adds no extra benefit and if anything detracts from it. The 5 indicators in Ichimuko are all derived from price history. Candlestick charts tell you what is happening now and in the clearest terms, where as indicators tell you what happened last week or last month and only after altering it through calculations. So you really can’t add anything to pure price because its as fresh and straightforward as it gets. I believe if you stick around long enough you will see that.

Also if you post charts please post them without indicators as to not confuse other followers of this thread.

As another member said earlier the first 50 pages will get you well grounded in what good price action setups are and what ones to avoid. The best trading to you!

Thank you. I use the definition of Steve Nison where only compares the bodies of the candles. I guess if the shadows are also covered will be stronger signal.
Regards,

HI
we’ve a BEEB on 12 h TF .
It’s a good signal.
It’s also 38% .


For me is still in consolidation area. I’d rather wait for a stronger signal to take a short position.
Good luck!

Heya ABC,

not really the best use of the Fibo here. There has been a lot of fibos of late in here and I would really love it if traders got back into concentrating on price and away from fibos. Fibs are just a last confirmatory factor that can be placed on. They would never stop a trade being placed or decide that a trade would be placed and I just think they are creating confusion for traders.

Like everything we do, the fibo should be; Logical and Obvious. Only the obvious levels including 50% + 61% should be used. (Yes I know 50% is tech not a fibo level, but it is the best retrace level). Forget the 38.2% and 71%. Just use the main two obvious retrace levels.

We only want to be using the fibo in obvious trends. That is it. The fibo should only be used for marking retraces from the low to high or high to low and to pick a retrace. That is it! If price is in a range and if we cannot pick the obvious high and low then we DO NOT use the fibo. We only use it when the levels are obvious and logical and when the trend is clear cut. There should be one high and one low. Once a high or low has been tested again the fibo is done.

The chart on the USDCHF is in clear sideways and does not suit a fibo at all.

Here is an example below. It is just a very basic example. The fibo is just taken from the obvious high to the obvious low to find the retrace point which for this example was the 50%.


1 Like