Forex Price Action

So now the importance of staying with your plan becomes evident [ regardless of what dudest or anyone thinks about your trade :slight_smile: ]


Cheers!

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Analysis:

A good number of times, gaps are NOT filled, so don’t count on that as a ‘confluence’

A good number times, gaps act as S/R, so the BEEB is sitting on a potential S/R

The candles prior to the BEEB have failed to close below the level --> support holding

Lastly: the area happens to be around the RN 1.5900, which if you zoom out will see has acted as S/R before ( in this case, support )


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Thank you again

I always draw my S/R lines too high or too low :frowning:

Thanks you for your review. My 1st reason to enter was for the previous daily candle pb. But you learn from your mistakes and no matter how long you have been trading for you still make them as we are only human.

On a plus note my gold and silver trades hit there tp and made back all the losses I have had. So now I have learnt an important lesson and I’m no worse off.

Yep I stayed in and it hit my tp. I was also riding gold too. Yay.

Is it me or does the silver chart look like a double bottom?

The AudCAD is climbing to the VBRN of 1.000. Looks like a great place to short. I’ll be watching this like a hawk!

You and me buddy!


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Yaaaay! :35:

@double bottom: doesn’t quite look one to me… though I normally don’t place much premiums on double-bottoms and such (and don’t have them in my trading plan)…

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Uhm, not true, your S/R’s usually look good to me!

The key here was to remember that gaps tend to act as S/R, and not mix TF’s (“weekly gap has not yet closed”). Also to see what the wicks of the previous candles were doing ( i.e, that the candles where not able to CLOSE BELOW the level )

Cheers!

And if you don’t do what he said, you will make Uncle Dudest really sad. :frowning:

EUR/USD 1HR PINBAR


I’m taking first profits.

Cheers

Dudest, thanks indeed for your support.
As newbie, I miss with some abreviations. Some reference guide to help me?

i took profit on Gold around 120 pips. i dont plan to let the trade run too much on reversal trade

Talk of prophecies!

Good on you Johnathon, hope you pocketed plenty cash.
Or maybe you are riding it further down. nonetheless enjoy the triumph.

Cheers

i only take it into consideration and once i got home and looked at the silver chart it didn’t look like a good double bottom to me either.

Wow! you must have a cape and wear your pants outside your trousers! I can never seem to run a profitable trade this well. Congrats

this was actually my best trade pip wise( i know it doesn’t really matter as gain is what counts) to date on my live account
203 pips whoop whoop. lol

I might say it was a “golden trade”… heh he.:34:

Hi bobba,
Thanks
I’m more the suit and slacks/jeans type of guy.

Leaving a trade run is not difficult bobba, going BE and taking some money is,though.

Good luck to you and hope to see you post more.

Cheers

I missed this trade because the pinbar for me was in No Mans Land, I had the support much lower, do you use Hourly SR levels or only Daily levels ?

Well, sooner or later Kasravi will be an honorary FX-Man, so I don’t think that’s out of stretch. Maybe we should start calling him Dr. Kasravi? Or Captain Kasravi? Maybe Kasraviman? :smiley: