Forex Price Action

2016–08–09 Market Watch: Indian Interest, German and British Balance of Trade

5:30AM GMT: The RBI (Reserve Bank of India) will meet to set its monetary policy. The bank meets every 2 months, with the last meeting on June 7th. The RBI’s official rate is the 1 day repo rate, which is essentially the rate for a collateralized loan. The bank last reduced rate to 6.5% in April, and we expect the RBI to keep rate rate stable today. However, if the interest rate were to decrease, the INR will depreciate.

6:00AM GMT: The Federal Statistics office of Germany will report on Balance of Trade. This figure is reported on a monthly basis, and today’s data will be that of June. The Balance of Trade is a flow statistic that measure how much export exceed import. The market expects trade balance to slightly drop from a surplus of 21 billion EUR last month to 20.8 billion. If this statistic exceeds expectation, the EUR will appreciate.

8:30AM GMT: The British Office for National Statistic will also report on Balance of Trade. This figure is reported on a monthly basis, and today’s data will be that of June. The Balance of Trade is a flow statistic that measure how much export exceed import. A negative value indicate a trade deficit, whereby import exceed export. The market expects trade balance to drop from a deficit of -2.26 billion to -2.7B. If this statistic exceeds expectation (less negative), the GBP will appreciate.


Hello Everyone! Found a pretty nice trade today and decided to share it here where it all began for me. Pls do give your insights on it as it helps not only me but everyone here understand price action better :slight_smile:

My point for taking this trade is that I see the price action trending sideways at the moment. The pin bar is legit being inside the previous bar, the body is 3 times or more of the tail and a nice nose sticking out confirming to me its another legit type of pin bar I would trade. Most important of all, the current candle has broken the low of the pin bar so here it goes.

I just looked at my charts. Looks like strength in GBP compared to EUR. So maybe you got some bearish confirmation. I’d be a little carefull, right now Eur/Usd is showing some strength.

EURUSD: The pair closed lower the past week following its price extension. Support lies at the 1.0900 level. Further down, support lies at the 1.0800 level where a violation will aim at the 1.0750 level. A break of here will aim at the 1.0700 level. Conversely, on the upside, resistance comes in at 1.0950 level with a cut through here opening the door for more upside towards the 1.1000 level. Further up, resistance lies at the 1.1050 level where a break will expose the 1.1100 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. All in all, EURUSD faces further downside risk.

Hi FXTechstrategy,

I’m learning terminology, so I wish to clarify that in the context of your analysis the term price extension means that the current candle closed lower than the previous candle, or previous two candles. Is that correct?

Thank you.

Hi all,
Please excuse me if I post in the wrong thread, but my question will be interesting for most of newbies here. My question is for traders with experience: Which patterns are most profitable? Thank you in advance.

What’s Good everyone, I came across this thread from the hall of fame list, lot of great info in here so I wanted to add my two pips… Been working on my S/R lines and spotted this PA on my weekly run down of the charts… The pin might not be big enough, but just want to know if I’m on the right track… USD/CAD D1
Pair has been bearish since 2/16, hit a low of 1.2500 around 5/16, slow choppy bull trend ever since. I know this is a counter trend but it’s near a big round number /swing high of 1.3400. Looks like R at 1.3350 and 1.3300 my plan if I were to take this would be to look at 1.3250 to TP if I was aggressive but would probably be conservative and take profit earlier perhaps at 1.3300 or I could be totally wrong and this is not a A+ setup in which case never mind!


Is this thread still active ? Will I get replies if I ask a question ? But anyways thank you for such an awesome guide Jon I am still reading all the links in the first post.

Hopefully it is not dying off. I am also reading the previous posts which is filled with so much information. Hope by the time I finish every page the thread will become active again.

Hey guys,

I hope this thread is still active. I’ve been looking into forex trading, and have been working with a demo account for about 6 months now. I have a quick question for you experts: how often does an “A+ setup” occur? That is, about how many times per month, on average, can I expect to find such a setup, so that I know how much I would have to invest in each trade in order to make a living trading like this?


Dear all,

I hope this thread is still good. Anyway I do hope my s/r level is a-ok. Haha.

hello everyone, I haven’t posted here in ages but honestly this is not what this thread is (or at least was) about.
The idea is to trade RAW price action with clean charts no indicators no RSI nothing

If any newbie comes by this thread, do read it, it contains a gold mine of information the question is what you do with that information.

Just as an example a trade I took today AUDSGD H6

no needs for any indicator it is a nobrainer

Hi
i agree with you.

Everytime I click on any of the above links, I’m brought back to the first page of the post instead of to the page containing the topic. Am I missing something on how to access those links?

Thank you so much we are waiting for more from you

Nice Great Post Thanks For sharing

that’s because babypips changed the layout of the forum, links are no longer valid. that’s a shame but that’s the way it is…

I paid for membership to Johnathon Fox’s forexschoolonline. He has closed the members website, removed access to the course material that I paid for, kept my money and refuses to answer my questions and now he refuses to respond to my emails.

Regarding the link issue, some links were impacted during our move from vBulletin to our new platform, Discourse. Unfortunately, not all links could be migrated over. It was a technical limitation related how the original links were created/shared on vBulletin. We do apologize for the inconvenience.