Forex Price Action

I understand EternalNewB
so for me it is all about breaking through one of these trending lines. if it breaks higher then we can expect big move up. If it breaks lower we can expect big move down.
I think.
Don’t think that I understand forex trading more than you. In fact I have absolutely no idea what i’m talking about :54:

That laughter goes with your name,lol.

I use mt-5.

Cheers

Hi bambino. You are old member so you must know we dont use trend lines or any MA. Only two horizontal line.

Cheers

This was exactly what i was talking about eternal, thanks for the visual representation bambino :wink:

when the graph shows you a pennant you cannot ignore it. its still a clear price action signal. you just wait for more confirmation on where to enter.

ok cool cheers bro

Very well said Will, less is more.

Cheers

I agree and understand.
I never want to say that you must trade everything, all timeframes and all PA which you see.
So for all [B][U]be sniper not machine gunner[/U][/B].
I wrote it bad and gave bad example
All I want to say is that even if you take 2 trades per year doesn’t mean that you will be profitable. Saying after 2 unprofitable trades that you should trade demo and not live is premature.
[B][U]Never want to say[/U][/B] that you must take 10 trades every day if you want to know your trading edge.
And Jonathon is mentor he know exactly what he do. There aren’t suprise for him. You can follow him (great idea) but cannot compare his results with yours. He is teacher he is better in this trading. Saying that Jonathon is success in 90% is great and you know that this system work but you are not Jonathon you cannot compare yourself with him. This expectations are too high and as someone who start with this metod … you should be happy that you are profitable or BE in your first trading year. You shouldn’t be confused that Jonathon’s gain is 200% and why you don’t have this too. For newbie it is too high expectation.
Hope you understand what I mean. :slight_smile:

This deathstar is never going to get built. need more credits! Oh well I guess I don’t have to cover that obvious weak point. I’m sure no one will notice…

I was just rewatching this video. Most of you must have seen it but I thought it’s good because it goes through many different situations. I especially like the USDCHF analyse when he shows when to switch from looking to go short to looking to go long.

Check it out !

Ok Afdx,
I understand. How I wrote 'sometimes little bit meticulous". I only want to reply to his question.
Next time I show only naked chart and told him to draw it yourself. it will be much more useful.
If you want to know Jonathon said that he doesn’t use trendlines but have nothing against them.
I am not old member I am here maybe 2 weeks …not so old ;).
Cheers

longer and different time frames other than monthly weekly daily and 4hr 1 hr etc.are found on MT5 and not available on MT4 (as far as I know)so why not have a demo MT5 as well.:33:

I always get surprised when I get queries about the 1-2-3 pattern, especially because it’s at the heart of how we trade (!) :slight_smile:

When price is in a swing (whether short-, middle- or long-term), we trade PA formed after pull-backs within the trend [ that IS 1-2-3 :slight_smile: ] And if you have counter-trend in your plan, the CT PA are fair game as well.

1-2-3 helps us spot potential trend reversals.

Concept:


In action: © FSO

READ MORE:

Cheers

Sitting on the sideline and seeing big moves in the market can be very hard. What is worse is when you spot a setup that you didn’t take because it wasn’t perfect and the market plays it out flawlessly.

These things are nerve racking, mix that with a few lost trades and you will have a very hard time. That is a major pitfall in trading, a pitfall that everyone has experienced and are well known with.

However there are ways to stay clear of trouble;

First you need to see it coming. When you see those feelings , you need to address them. Don’t play macho, that is a real cyclic danger that needs to be dealt with. Don’t down play it either, because it is there.

Secondly you need to remember that you are doing business. It is not very common in social cycles that you meet someone who is trading for a living. Why? Because it takes a lot of discipline to stay on top of your business that is based on probabilities. Majority want to get paid by the end of the month. Hence as a self employed person you need to be your own boss and make sure that you keep your trading plan in check. Which takes us inevitably to the next point.

There is no right or wrong. You have a set of rules,and you will have to follow them. As said be your own boss. Your boss doesn’t really care what you think of his/her work ethics,all that is important to him/her is that you do as you are told and that you do it good. So stick to what you know is working and don’t question your boss or risk being sacked!

Trading psychology is truly what stands out in professional traders. An inexperienced trader reads these words and thinks nothing of it. But on the bigger picture having the right mentality and mindset is your only goal that needs to be mastered.

Becoming a professional trader you’ll need to stand your ground and only strike when it is the very best opportunity. We all have the tools of PA. If not further education is necessary. I suggest instead of isolating yourself with timeframes or pairs you should discipline yourself in only taking the very neatest of setups.

Statistically we have an average of 5 PERFECT setups a month. Combined timeframes maybe 10. If you can master to limit yourself to a set amount of trades then you are half way there of being successful with this strategy. Limiting yourself to a set amount of trades will mean that you are going to be supper picky with your trades because you know you won’t have many shots.

How badly do you want to be successful in the forex market? All that it takes lies right in front of you be the one who sizes it!

Thanks for reading.

Cheers

Bambino I value your ethics and humblness.
But you are 1000% WRONG with that statment.The only thing that will stand between you and a high success rate will be your itchy finger!
If you take the very best of trades,as few as they might be you will have a high success rate. Wether you are new to trading or not. Understanding Johnathon’s PA system takes no more but a few days to read and a month or so to implement. It is your mindset that will make you profitable.

Excuse me for being blunt but you cannot argue those facts.

Cheers

Hallo BA,

Nice area, but:

a) Would you say the pin is formed at swing low?

b) Does the pin have room to move into?


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Oh Kas!, you gave the “doggone loss a toss!”

I’m still in. It’s testing 1.3900 RN now ( I hope it gives way! If it doesn’t, “our stops are in so there’s nothing to do!” )

:slight_smile:

PS: Quotes are from Ed Seykota’s (Trading Tribe) “Whipsaw Song”. Johnathon shared it once, and it’s been an absolute favourite of mine since then :slight_smile:

Enjoy!

The Whipsaw Song - YouTube

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Double posted*****

hahaha! suppose i did, damn the top of that BEEB is a stronghold!

All the best,if that plays out you may well see a good 400 pip surf!

Cheers

A (hitherto valid) pinbar is only invalidated when price breaks through the tail end

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