Forex Price Action

No way this is A+, selling in to a lot of trouble


Would not take this one as it is not at good BEEB because it is more like an indecision bar (lower wick to long)

I’ve set pending orders for the PB on AUDJPY D1 as I like it more than the PB on GBPAUD (buying into too much trouble). Can’t post another chart right now as I’m in a hurry

Regards

Hey,
the last candle is not a PB as the upper wick is way too long, so it is an indecision bar. Also I would mark the support level at 1.1100

Regards

I set a pending order on AUD/JPY, too:


The red line is my stoploss, the green line is the entry. The orange dashed line is the FTA in my opinion and the purple line is a many times respected S/R-Level / Area (it was respected in the past, too, not only in the visible chart of my screenshot)

I have to say that I set my pending order just some minutes ago, so I got not triggered yet.

@nanoos - are you aware that your charts aren’t NY-Close-Charts and you might see “false signals” or miss signals?

Thanks All - I appreciate the feedback. I am still struggling to mark the S/R in the right place so decided to post my charts here to learn where to mark them.

Newbie question I know - but In terms or NY-Close charts…how would I set that. Should I set my time on my charts to EST or is there another setting somewhere.

I looked at the chart again and wasn’t feeling good so cancelled my pending order on AUDJPY. You always should ask yourself if you would 1000$ ond that trade, and I wouldn’t.
Just look at the S/R at about 95.33 just below the PB, it got touched multiple times… Scared me out of it as there is not enough space for a first TP…


It’s true, that level got touched multiple times, but it poorly managed to turn the price in the past, while the level around 95.99 acted well as turning point and in my opinion, the signal is realy good. Of course, price could struggle at this level (as it did today), maybe it could turn. But I think, the 95.99-level and the setup are stronger than that touched level.

There is no way for you to set that. The time follows the broker’s server time so choose a broker with NY close charts. Some examples are Pepperstone, ICMarket, Axitrader, RoboForex.

I can recommend Admiral Markets, but I also used Axitrader, fine too. BTW not affiliated with any of those :wink:

Alpari is another one with NY-Close-Charts. And FXCM uses them in the Tradestation2 (in Metatrader too, but that depends on some factors. You may get NY-Close-Charts in the FXCM-Metatrader when you ask the support)

@thetrendsfriend
Some days ago you wrote you want “your D-Mark back” - are you from Germany?

Yeah, I am, you too? :smiley:

Yep, me too. Chemnitz, Sachsen, you?

Ha, that’s funny. I’m in Dresden :smiley:

Hey guys,
does anybody know what’s happening with the JPY crosses? A lot of huge bullish bars today…

Hi trendfriend,yes that would be the Japanese announced quantative easing so the jpy shot down.

Thanks for your input . Never knew the lower wicks plays a part too . Thanks alot

Hey,

did anybody see something today? My charts look pretty boring at the moment…
I hope the JPY Pairs will pullback, so we can jump on the trend train on H4 or so…
BTW: Does someone also use H8 H12 and D2 at the moment? I’m thinking about doing so and I’m wondering if it is really a help…I’m wondering because I read in this thread, that we only take obvious signals, because others will see them (especially the big players) and take them too. But I guess only few a trading with H8 H12 and D2, so wouldn’t that mean it’s riskier?

Regards

“It’s a basic fact of life that many things “everybody knows” turn out to be wrong.” - “Jim Rogers” :wink:

Well as this a Price Action Thread and not a poetry slam, clear answers to help each other would be more appreciated, I guess :wink: