Hey, i’m newbie too and I’m sorry to interrupt. You asked Tony what he sees. Well what I see is the chart on October and August 2015 and it is maybe indicates that this could be the bottom of the drop. Just an idea for me at least and of course the fact that this the 1.30 line which could be a very strong support line. I have a buy order on 1.2970.
wow, This knowledge aplenty. good work
Well the pair is in the support area looking at the daily and weekly also there is allot of traffic there , and the volume is starting to deplete as well. We are now at the middle of the week and this is when allot of traders make their best trades. I see what dredd37 is seeing .
guys wonder what your thoughts are on this pair?
ive noticed on the daily EUR/USD that it has broken the trend line (green dashes). The orange line shows the support bar it bounced off.
Ive entered the trade in the sell direction however I’m wondering a few things:
Would you have entered the trade?
Where would you have put the stop?
I put the stop on the orange line for the previous resistance, or would you have stopped on the red line above two days previous candles?
Any thoughts appreciated
Read more: http://forums.babypips.com/trade-journals/79310-new-swing-trader-journey.html#ixzz43lh55fbn
Thanks for that. I haven’t thought about including volume in my analysis before. ta
Is this true or just a gut feel? I’d love to know if some geeks in the city measured the best days for profits 
Yeah I didn’t look that far back but interesting assessment. Lets see what happens however my gut feel says that support is so far back it might not be relevant ??!?! lets see how it pans out though
Well there are always more than one way to trade a pair, it all depends on what you want…I am going to wait until Europe market opens , then i will see if i’ll take a short on E/U. Now right now the yellow line from the current position is about 130 pips or so, that is really the proper place to put the S/L but i would take a risk and put the stop on the red line which is less than 100 pips. I don’t want to lower my pip value per trade. Either way there is a good potential for a good amount of pips to be made.
Hey, as you can see it just went up and my bad luck that it did not pushed little bit more befora the jump so I missed the buy order
well you got the decision right, that half the battle!!! good call
When i place an order to buy , if i am buy the computer and it gets near my buy order and it starts to move away and all the indicators are right, i will pull the trigger. I then place a tight S/L just in case i am wrong, remember nothing is 100 % in any type of trading.
Thanks Shaneharpe16, indeed I’d like to turn to EURGBP now. I’m waiting for the close of the daily candle now because I see a huge opportunity for sell. Look at the level where is it now. The last time when it was that high was in December 2014. Very promising sell signal I would say.
yes indeed only death and taxes are certain
Ok here goes…first post.
Found this thread at the weekend and have since read about 70 pages. Very interesting so far and seems to be a simple approach to making money.
Started a 5000GBP demo account and looking forward to making it grow before making some real money.
First two trades were (very small) winners which I traded out of too quickly - lesson learned. Although a winners a winner I guess.
Seems to be lots of potential trades out there at the moment, just waiting for the right signal to get a trade in.
Welcome, golftrader!
Glad to see a well-spoken newcomer arriving.
This thread you posted on is probably the most valuable to a Price Action trader.
Myself, I am still working on trying to be profitable after about 5+ years of studying Forex.
At the moment, my problem seems to be not picking any specific trading strategy and not knowing what type of trader I am. After so long you would think I would have figured this out… I honestly haven’t.
My problem seems to be that I don’t know if I can trade longer time frames such as the Daily and 4-hour (my two favorite time frames) or be more of a scalper on smaller time frames like the 10-minute.
The person that introduced me to Forex makes an average of $16,000 a day only taking small trades of about 10 pips at a time (Each pip equaling about $450) and he’s been trying to teach me his strategy.
It’s been going over my head so far.
Anyways, yeah that’s my dilemma, and it looks like you’ve figured things out quite nicely. That’s very important!
Main attraction with this type of style is it seems I can fit it in around my day job.
Your friend sounds very talented, I bet he also has time to look at the charts all day? I don’t have that luxury I’m afraid and so that would put me off that style of trading at the moment. That and I think its harder on smaller timeframes?
Anyways took a trade on GPB USD last night, with the DAILY DOWN trend, price action pin bar on 4HR and daily chart and its turned against me.
My mistake I guess is not looking at the closest resistance to the left and looking at the second closest if that makes sense. Also the 4 HR is in uptrend?
Any comments? Still has time to turn around I guess.
4HR
DAILY
DOnt worry. I took the same trade this morning. Lovely pinbar formed and closed on the daily. at 09:30 the second candle was bearish and heading down. Now it has turned into indecision. Will be patient I feel that the pound will continue down in the short term.
Its been a while since I last posted on this thread . Here goes my Price Action trade of the day !
Its very simple. Do you see that lovely pin bar ? ;D
lol . just realised we took the same trade :23:
I took the same trade GBP/ USD short all we need to be is patient.
Ok, so I got stopped out in profit. I made 1.2% profit on this trade however I think theres so much more potential for this to go down.
I placed a trailing 30 pip stop this morning and the price shot up and took me out within minutes only to go back down again. Perhaps didn’t manage this one well but 3/3 small wins to start the demo account I guess is not bad.
Comments on how you guys manged it welcome.