Forex Price Action

Price has finally broken out on the S+P 500 daily price action chart. This is inline with the trend and now present traders with the chance to trade with the trend if price works it way back to the price flip support area, Traders could also play continuations if they know how if price does not look like it is going to make it back to the price flip area.

S+P 500 DAILY CHART


Safe trading this week all! Keep an eye out tomorrow for my new video I will be releasing. I will post in here for you all discussing secrets of candlesticks and price action and talks about things such as key candle closes above/below with candle closes, not marking charts with line charts & other tips traders can read through their charts.

Johnathon

Regarding support and resistance lines,you do have to wonder sometimes if its just the human mind seeking logic that we put any s/r line in.Try this on your chart ,put a line on your chart randomly (with your eyes closed maybe) then check if price has bounced of it,I bet you find it has in a few places.So this begs the question are we just fooling ourselves to think there’s a logic there when none exists.Don’t get me wrong I’m not saying I’m definitely right,its just after 3+ years spending large amounts of time looking at charts I am beginning to wonder if I’m trying to find logic in an illogical situation .I know a few people will jump up and down saying I’m wrong but are they really consistently right (I’m pretty good at recognizing the BS merchants now) or have they had a few lucky wins only to lose it all on the next trade.If your a true thinker and not a blind follower there’s nothing wrong with asking these questions,you’d be a fool if you did’ent really.Is it a case of the kings new clothes,(google it if you don’t know the song). I know Johnathon will have an opinion but he has got an axe to grind after all.Saying this though Ive probably learnt more from his thread and method than any other Ive looked at so Id have to thank him for that.Im just not sure Its enough.

Damn man, that’s a pretty logical insight into S/R and everyone has a right to question anything.

Psychologically speaking, humans tend to gravitate to organizaing things that seem to work together. In this case we see this happenning at S/R levels, grouping swings together to form S/R. I do believe that if you randomly place a line on your chart, you would definitely see areas that bounce off of this line and that it would make it thus seem logically placed.

This seems especially true when you move down in time frames AND when you zoom out of larger time frames. The more “information (candles)” you SEE (rather than contained! Ex. Daily), the more chances you would hit this “logical” level at a certain point in time. Maybe not at the recent swings, but definitely at a certain point in time. So yes, that insight is definitely correct in its own right. If you were to do this same tactic however on a larger time frame or zoomed in on the Daily, I would suspect it would not hit as many and as accurately.

I really liked that not everyone is a sheep in here :slight_smile:

Nice insight, Buster.

Actually that is one of the reasons why we use a clean chart and down to two S/R line ONLY when we analyze the chart using FSO method. Heck, a senior like Bryce has no problem to simply draw ONE S/R line ONLY in his personal strategy!

It’s a no secret that there are so many possible S/R lines in any chart. Some S/R lines are major lines, but most you see with your ‘randomly drawn line’ is simply minor S/R lines that you should not even bother when you think about your trade setup. It’s difficult for newbies or when you are not consistently profitable yet, but as you gain more experiences and consistencies in your trade, you will also gain the abilities to value the strength of your possible S/R lines.

BTW, you can be critical about anything, but I strongly suggest not to use somewhat denigrating words like ‘BS merchants’, ‘blind followers’, ‘fool’, and ‘sheep’. If you are not satisfied with Johnathon’s teaching after all, by all means you are free to leave and start your own Price Action thread yourself.

Just my 0.00002.

Hahaha I’m pretty sure we were all blind sheep once upon a time…

Besides, I’m sure it wasn’t meant to harm the thread’s quality but rather to point out for example, that some people come in here to take trades that they see other members post up, without questioning if it fits into their methodology, just because it comes from a reliable source.


usdchf weekly beeb what’s your opinion???

Lots of big support up ahead! You’d probably run into a lot of “wait time” if it does go down.

I expected better of you wm247 so I will refrain from saying in this instance, “so here we have the first BS merchant out of the woodwork”

I don’t think he meant it like that either…can we go back to how nice AUDCAD and AUDUSD is going to be real soon? :slight_smile:

Well if you want to continue derailing the PA topic in this thread, then I’m out. I have seen enough [B]keyboard warriors[/B] at many babypips threads, so if you expect me or anybody here to take your flaming bait, I rest my case because it shows everyone here about [U]your true intention[/U].

Let’s move on to the [B]REAL[/B] PA discussion, shall we?

I want to hear your opinion first. What do you think, is it an A+ trade setup? And why do you think that way? What are the pros and the cons of your trade setup?

Don’t be such a drama queen WM I’m not derailing any thing I’m just questioning things as any thinker should,if your going to blindly follow something someone says with out question dosent that tell you something.I’m unsure how far advanced your trading knowledge is so there’s the rub you could be just another wanabe for all I know.My true intentions are to learn and make money nothing more nothing less,and I repeat Ive learnt more from Johnathon’s forum than any other I’m just(as I said ) not sure If its enough.This is why there has of been of late an exodus to another forum (including yourself WM) .Because of the very few tradeable setups we see with this method it would seem untenable unless huge stakes were involved which most of us (I guess) cant afford,so while I think Js concise method is excellent the traceable setups are too few and far between,so could you (Johanathon) include another thing in to give us more setups somehow.

Buster - I like to question the ‘why’ of price, the very question you posed I asked of many, always without a satisfactory answer.

The nearest answer that made some sense to me was by a long term trader who said that as a clerk, back in the old days his job was to pile the paper orders on his desk, then when price reached a level he would have to pair those orders.

There were times that he would have, for example, many more buy orders than sells, price would move up after matching the orders that he had, and some buys would be left behind. He noticed often as price worked back down - right to the orders - then they were matched with the new sells - desk cleared, price back up and no buy orders left.

So now when I see price coming back down to a previous buying point (support) I think of those unmatched orders from last time. ( I also look at the ‘rate of fall’ and the reason for the price increase - but that’s a different story.)

Just a way that I look at it :slight_smile:

Thanks Coach! I’m following the system, I have developed a strong money management plan & continue to work on my psychology so I’m winning consistently.
1 million dollars after 1 million trades :59:

[QUOTE=Forex School Online;553583]Really nice trading Chisha! Really solid pre-trade marked levels is also what stands out as well

The fine line for Johnathon is how to keep members happy and not pee them off with discussing too much in babypips. I am sure if he had it his way he would discuss a lot more in here, because in the members area and courses there are more setups taught and traded such as continuation and breakouts etc

Traders in here are not are even aware about these setups taught in the members area because Johnathon makes sure members keeps them in the members area and so traders outside and in here in just assume and think that what they talk about in here is that’s all there is, but what is talked about in here is only trading reversal signals.

Yes it is great to have an inquiring mind, ask all the pertinent questions, however go
back to the start of the thread & just read through & watch the first few videos. Where
are the S/R levels? Are they random? As though they had just been thrown on the chart?

Of course the O/P is not going to give you all the answers, why do you think that is?

He guys,

after writing my last article I received a lot of emails and questions. I have now covered these for guys you in-depth in the latest video including points such as candles closing above/below key flip areas and marking levels with line or candles charts (why/why not). Any questions post them up in here and we can go through them.

Safe trading,

Johnathon

1 Like

Okay I get where you are coming from now, I’ll leave you to your ignorance.

Best of luck

PS To all the true followers of this thread the O/P has published a great vid. above
with some superb learning.

getting excited AUDCAD price is ever climbing to that significant level!!!


just need a fat PA signal and its hands to selling stations!

Darth

Not “fat” particularly, but would you say that’s a BEEB on the 4hr 16:00 candle?