High of the weekly was 5.9465., I decided to give it a 35 pip buffer and went long at 5.9500. It’s pulled back a bit since this morning and is up about 650 pips. I have 1 take profit level at 6.1000.
It looks like you gave the weekly candle a buffer of about 225 pips.
Hey abc,
http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action-37.html#post328078
Mr J:
When we enter a trade price will go to an first area of what we is a possible stall or reversal area. I call these first support and first resistance area or FSA and FRA. When price gets to this area traders can do a few things:
- Move to break even
- Take full profit
- Take partial profit and move remainder to BE
- Do nothing
So to answer your question: yes, you can choose to move to BE and not take profit.
Even better if what you’ll do at FSA/FRA is written down (planned) before you even enter the trade [to make sure you execute and don’t second guess].
Cheers
.
I was talking about the BEEB, a nice setup to go short.
.
How I see it:
Cheers
.
I took the last digit of the decimal for a pipette not a pip:)
Interesting analysis, do You trade setups like this often? When the trend isnt yet reversed?
Hi,
i want to say something to EternalNewB but it can be helpfull for all. First of all I must say that I LOVE THIS FORUM but:
I’m a little bit concerned about your solution trade only on 1D chart. It cannot help you trade only 1D charts if you have bad money management. I want to say that money management is not only “how many % of my account i want to risk”. It is about everything you do after you decide to take a trade. Where place SL, where make entry, where place TP, 1 or more TP … If you have bad MM trading on 1D charts isn’t solution. For me you should trade demo account and trade everything on 4H,8H,12H,1D… Why? Because it is all about experiences, “sense for the market” so you need trade, you need look at the charts and thinking about them. On this thread it is not about trading strategy it is only about entry signals and noone who bought the course cannot talk about MM but MM is important it is “holy grail” of using PA.
If you look at successful forex trader they don’t use same entry signal they use everything RSI, CCI, MACD, price action … but what is same for all? They have great money management. You cannot learn it like recognition entry signals but you can follow some basic rules which you probably give in Jonathon’s course and then you must learn yourself… read book, look at forums, be suspicious even if it is Jonathon, Dudest or other “senior member” you can learn a lot from stupid question and nothing from blindly following.
Nothing again this forum but it is probably the most strict and tight in choosing entry signal (thats great) that i have ever seen but sometimes it is too meticulous in choosing entry signal what is maybe 30% of success but say almost nothing about MM what is maybe 70% of success. Again it is fine cause this forum is about entry signals.
So my advice: try to upgrade your MM because your entry strategy is definetely A+ in global view even if people on this thread tell you that “it is probably not A+ trade because there is a mess on the left side” ;).
Just my opinion.
Cheers
bambi
Hey Guys
Just looking at this pin bar that has formed on the AUDCAD 4hr:
Trend looks to be up, it’s a nice pin, but has some traffic ahead, any thoughts?
Wow guys in the thread are really a helpful bunch haha! yeah you are right abt MM which i also think that he needs to learn more and buck up however regarding trading Daily TF, its Strongly recommended by Johnathon at the start of the thread as well as all the seniors. J also said that Most of his Winning trades are Daily trades. Thus, it is important to be successful in trading Daily before going into other TFs. Not only that Daily has more accurate PA which helps to bring up the winning rate, it also helps to boost one’s confidence in the setup. I myself have been trading Daily for about half a year and havent lose one trade which definitely make me feel that im almost ready to test it on live with small sum of money. Just wanna trade 3 more month demo and start live next year Jan. Hopefully i can turn your mind too abt trading Daily,bambi(the deer?)? haha just kidding 
Sometimes people wanna trade lower time frame because they think that more trade setup will occur and money will be earned faster, hopefully you have your own set of rules and reasons to trade them. But yeah, experience the market is truly important.
welcome back dudest,
Jack
Thank you Bambi for taking the time to write this to me I highly appreciate it.
As you Johnathan, Jack and others suggested I am back to my demo account for now and I hope it will help me look at trading without the greed and develop better self discipline
I’ve had my share of crazy and over trading and have witnessed loosing strikes, even after I decided to become a better trader and joined this forum I was taken on both EUR/JPY and GBP/JPY on the same day.
The simple truth is that I shouldn’t have taken both of them I was thinking about what I was going to gain and not what I could loose.
So it is back to learning baby steps for me. the journey is going to be much longer than I thought or anticipated but I was to follow it till the end and I know I will find the support and help I need in the forum
Thanks again to you and to everyone else here
USDCAD also seems to have a pin on the 4hr and would make sense along with the weekly pin (which I have not taken)
Yo- I saw this too but quickly passed on it. Here’s what I see:
4HR is showing a pretty strong uptrend, but momentum stalled at .973. I’d rather see .973 be broken, then go long above that level. There was a 100 pip candle on 9/18. This is an exhaustive move, and price has been trending down since then signifying to me that a reversal is in place with lower highs, and lower lows.
Thanks for the great feedback Bigcheefer, I see that 100 pip slide on the 4hr now and as you say it is a bit worrying. I should probably also stick with the daily’s now, like you I took those two losses yesterday and really need a decent trade to get me back into the green.
Thanks again Bigcheefer, hang in there I am sure that you will be back on top very soon!
BA
EUR/CAD BEEB,
I saw that BEEB as the start of a big move down, but once that H12 pin bar emerged I got cold feet and cut potential loses short.
I wish everyone else the best of luck!
Cheers
How do you see the USDCAD 4hr pin Bigcheefer, it looks as though it has a little more headroom, Ive just noticed that I think my RS line above should be slightly higher at about 1.03611?
I think I may have answered my own question I can also see a 100 pip slide down on the USDCAD 4hr.
There looks to be some indecision between that recent low and the peek that fired off a massive sell-off.
Which PB? Sorry, can’t find one?
Doh! Your right Bigcheefer it is not quite a pin!!! Thanks again for the heads up.
If anyone is still looking to go long on the weekly Usd/Cad pin bar then there is very well the possibility that you might get triggered with an explosive move in the next day or two.
See daily candles winding up.
Cheers
My pending order is still on (on my demo account 
) I wanted to ask does the fact that it was not triggered yet kind of invalidates the setup or it has nothing to do ?
