Thanks for replies.
Is this a good setup for a Long on the Daily NZD/USD.
What are your thoughts on it? What are the pro and cons etc? What could you see happen? Are you very confident? Is there a big edge in your favour?
If you want some help you have to give a littleā¦
Yep, Bingo!!! Johnathon re timeframes ā¦ thanks heaps for that ā¦ I draw key level s/r on daily as is more significantā¦imoā¦ wait for PA there , preferably screaming out PA ā¦lolā¦then drop down to H4 to enter and manage ā¦ as am still a learner ā¦ stops dont need to be as wide on h4 as on daily and are more affordable there ā¦ie within my comfort zone of risk.
Both you and bhops drew in same level that confirmed my prior post to FaRSā¦ so guess iām on the right track with this PA trading concept ā¦
Actually dropping down to H4 on AUD/CAD the overhead traffic you mentioned really stands out ā¦didnāt notice that b4 ā¦ Thanks once again Boss, really helps with different takes on a chart that it thrown up for scrutinyā¦
pw
Hi guys,
Just wanted to check that at the begining of the thread it says you use New York close charts. I use Oanda MT4 platform for analysis which it says is New York close but my charts always look differnt to yours so I am finding it difficult to follow what your posting. Is anyone else using Oandaās MT4 platform or have any suggestions please?
Just to say as well this is my favourite price action thread and although I have not been contributing I have been following for a while and reccomending it to other forum users. Once i get these charts sorted I look forward to posting more.
James,
Oandaās MT4 daily candles close at midnight US Eastern time and provide a Sunday candle, so they donāt use NY close, which is 17:00 US Eastern time. Open a demo with Pepperstone or FXDD to get an MT4 with NY close charts and five instead of six daily candles. I use Pepperstone for charting and planning my trades, then place my trades with Oanda with either the iPhone app or the Java platform.
Nick
Thats great thank you. I will get that sorted straight away.
Hello folks, im here to calling your help on USD/CAD, iām still learning PA and found some difficulty to spot support line.I like the BRN 0.9800, what u guys think about that?
Sorry for my english, Lucas Z.
Agree and always happy to do so however hold back on here out of respect to your thread to not mislead anyone on āPAā or āCandlesā which I donāt know a lot about. Iāve been following the thread for about a week now and read some of the back posts but started to go crossed eyed and skipped to today. Allow me to introduce myself and well done to everyone on here and their huge contributions; just a wonderful group bringing it all together.
Regarding, NZD/USD Iām already in. However, the strategy Iāve developed uses a very small exploratory position (15% to 18% of max position size) with a tight stop at a noticeable bounce off a key daily support/resistance levels which is what I would have in place with NZD/USD now as an example. I then pyramid in and probably fire off the remaining ~40% of the position size somewhere around where your large daily PA gets you guys in. Pros and cons; its a trade off between is it worth taking on small risk just off the support/resistance by keeping stops tight and position size SMALL followed by pyramiding in vs getting in after a significant PA signal with stronger momentum but have to use a wider stop with a full position size and I often find this entry point may be close to overhead resistance (for a long). There is no right or wrong answer; pyramiding just works well with the strategy I use.
Whatās interesting, some traders on here are using 4hr charts to get in earlier but where do you draw the line?..ie why not 1hr or 30 min charts. If your reducing the chart timeframes to find PA youāll eventually find it.
What I am confused thought regarding this thread is that we seem to be spending all our time/effort on where to get in and no discussion on open trade management and exits which imo is more important. Perhaps I missed these discussions in the posts that I skipped. I tend to take ~60% profit at next support/resistance level and keep a wide stop at least break even or better with the remaining ~40%. Thoughts? What are others doing? Has this been covered?
Good luck to all this week.
Cheers
Bear
i have some money intrest in investļ¼but donno invest at wat companyļ¼have forex agent introļ¼
Heya,
There is little discussion about management as that is not something I teach in here. I am sure everybody has there own methods and what they like to do but that is one thing I have held back from this thread. There isany ways to do things and manage a trade.
Safe trading,
Johnathon
Pardon? I am sorry but I donāt understand.
when the last candle āengulfsā more candles, the pattern gets strongerā¦ so of course it makes sense and I use it.
Hello bear from the other side of Gods country.
Actually I would be looking for valid PA to go long a tad lower than you ā¦
Just my take on it ā¦as you asked ā¦
cheers pw
What you reckon boss 
Hi Walker,
In my opinion, you are right on, with your levels 
Cheers,
Peter
Hi Lucas,
I can see where price found a lil bit support at 1.0000ish (brn) >>> then failedā¦
Valid PA (short) on a retrace back to that level in current downtrend ā¦ prolly worthwhile considering ā¦
cheers pw
Hi Fede, I think we might have a slightly different āengulfingā definition to yours, have a look at below posts.
On the post youāre quoting none of the candles is āengulfingā.
Fil.
Why? I think we have the same definition seeing your attachments 
Thatās great than! I thought you were referring to the image uploaded by Walker as an engulfing, although itās not. My bad
Fil.
Hello, on NZD/USD, i see an good entry for buy, its better waiting for some 2ābr, PB or BUEB to make entry?
I thought so: entry: 0.8100
TP: 0.8220
SL: 0.8030
Thanks, Lucas Z.