Forex Price Action

Hey m8. I see that you are the OP…I wont post anymore fundamentals that compliment PA if you do mind?! I was thinking to switch to a NY close charts broker, or how you guys call them. For Instance, this is how my broker closed the cad/chf weekly bar.

hey mate, i don’t trade the weekly and monthly but just out of curiousity why do you trade them exclusively?

Pin bars and engulfing bars (with the trend) work with the highest probability on W1 and MN TF’s. Less static - less stress too and no need to be “surgical” in placing the trade.

Hi all!

This is really a nice thread, looking forward to learn more from you guys! Thank you for sharing your knowledge! :slight_smile:


Hi johnathan.This is what I think:27:

Yes please stick to PA only and NY close charts. Helps all stay on the same paged.

Johnathon

Looks to me like its headed into some old support which would now be considered resistance. How long will trades usually last on the weekly TF? I have not tried trading this TF


Why it din raise?this isn’t a bullish englufing bar?anyone can explain to me?thanks in advance

Hey, It did not work because we never trade against trend and here we have strong downtrend momentum.
On this chart you should definetely looking short sign.

Cheers

This pair is in downtrend, makes LH and LL, so we only look for bearish PA. Wait for the retracement, bearish PA and SELL:-)

is here anyone in gbp/aud with me? seems promising to me… 1st target is 5180

Hey, try to post some chart with PA sign

I have already posted on page 484 :slight_smile:

We can trade against the trend, but its not recommended for beginners as the trade management needs to be spot on and trades are generally really short lived. Personally It is not in my plan so I only trade with the trend as I feel more confident in these trades. And I do agree with you machal I would only be looking to short in that market.

Steve

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What do you think? Anyone with comments.


Hey michalkraus,

I entered the GBPAUD last night although I set my TP fairly conservative because I was on my phone and didn’t have great charts for S+R levels. I’d like to see a shot of your charts and the basis for your TP.

I picked up 50 pips on this, while attending an Alice Cooper concert and woke up to profits. Gotta love the forex!

Thanks for the heads up on this one!

Hi, for me that is a range market and I would only look to sell from the very top or buy at the very bottom, which keeps me out of trying to trade through all that chop and traffic, I am very picky!

Steve

OK, I see :slight_smile:

Before you short you should wait for bigger pull back. You entered on very dangerous level when price bounced many times in past. Here is where you should look PA sign on this chart (what Johnathon teach us):


And remember buy low sell high. On your chart you sold low when price is on low level in current momentum.

I do not want tell that your setup do not work right now but in long term you could have problems… and profitable long term is most important for us.

Cheers

youre absolutely right, it seemed to me it could work, thx for your insight. i am aware of a retracement :-/ we shall see.

cheers

This is my chart. Please give any advice . Broker FXDD (GMT +2)(Demo account) It only help me monitor :smiley: I place oder other broker .
If this time i again use not true NY close . Please say with me the GMT you will use .