Forex Price Action

[GivenName]

Hello guys!

Correlated? Any views on either of them? Except for Usd/Jpy, they all seem to be hitting some recent resistance levels soon?

Cheers, GN!

[Jeff5796]

My view on EURUSD below.
Waiting for price to pullback to around 1.2820 area & hopefully bearish PA to form in order to join the downtrend.

Cheers

<img src=“301 Moved Permanently”/>

Now I starting to freak out

[bobmaninc]

@GivenName

Hello guys!

Correlated? Any views on either of them? Except for Usd/Jpy, they all seem to be hitting some recent resistance levels soon?

Cheers, GN!

I see I am not the only one who uses FX Solutions

[bobmaninc]

@dudest

My view on EURUSD below.
Waiting for price to pullback to around 1.2820 area & hopefully bearish PA to form in order to join the downtrend.

Cheers

I like it great looking setup in the works

[maxryan9999]

@tonyshieh

If that is BEEB, what is your Entry price? lowest point?
If you put at the lowest point. The risk and rewards seem like not that good.

I’m don’t sure perhaps entry depending on the close price (BEUB)
tp put in support .

@Jeff5796

I also enter short too early and now at -27 pips. Maybe I wrongly guess that particular bar is not a pin bar. Hopefully it won’t hit my stop loss.

We have same stop loss :haha:

[maxryan9999]

@Yumei

Just bless that price will not hit your stoploss before come down. i dont think put stoploss on midle ressitance is a good idea. with a little bit patience you can save some pips and smaller stoploss. if there are no PB on daily chart. i will take a short when see PA hit the roof ressitance and trap little bit before come back

[QUOTE=maxryan9999;420493]Give me some definition swing high low … Thank Yumei
I’m still keep order Sell , it’s about loss

i dont think put stoploss on midle ressitance is a good idea.
Give me some new idea . I really don’t know how to stop loss with PA . I usually stop loss high or low of previous bar 5pips

[mtaylor2]

The earlier trades some members have taken on the EUR/USD were not correct in my opinion. You don’t just trade a Doji ( pin bar ) because it appears, it displays nothing more than in decision in that time frame. A Doji after a rally back towards a previous support or resistance would be a far higher probability trade. If you look at the EUR/USD over recent periods although it’s edging down it is mostly consolidating as it needs some news to get momentum going, like this mornings. If you wish to sell the EUR/USD be patient, watch the pair rally, look for some previous support or resistance, followed by a reversal candle pattern them take you trade.

[wigglez]

The earlier trades some members have taken on the EUR/USD were not correct in my opinion. You don’t just trade a Doji ( pin bar ) because it appears, it displays nothing more than in decision in that time frame. A Doji after a rally back towards a previous support or resistance would be a far higher probability trade. If you look at the EUR/USD over recent periods although it’s edging down it is mostly consolidating as it needs some news to get momentum going, like this mornings. If you wish to sell the EUR/USD be patient, watch the pair rally, look for some previous support or resistance, followed by a reversal candle pattern them take you trade.

I took the eur/usd trade because there was a pin bar into a resistance in a downtrend.

There were a few trades like that. I got stomped on all of them

[mtaylor2]

Pinbars within a range a very risky play…

[maxryan9999]

Pinbars within a range a very risky play…

Post your chart and draw range you say please . I don’t understand so much when you say.

[GivenName]

I’m don’t sure perhaps entry depending on the close price (BEUB)
tp put in support .

We have same stop loss :haha:

Are you guys on a short order already?

[Jeff5796]

We’ve been stop out! good lesson. Every trade is a new learning!

[mtaylor2]

@Maxryan,

Im sorry Im on an Ipad and cannot post charts at the moment. What I will say is if you zoom out on your chart (4hr ) and draw a horizontal line at 12800 you will see that price action has touched there on a number of previous occassions and the level has been respected. The more times and the more times in history a level has been respected it holds greater weight! The 12800 level is also 38.2% retracement of the down move on the 4hr chart so I would look for a reversal candle such as a big pinbar or a bearish engulfing pattern to short the market. This would seem a more suitable area to short the market… IF price action suggests a reversal is likely. The truth is you have lost todays trade only because of woes about the US economy and not so much for a technical reason. But i would only say trade a pinbar that is not at a price extreme with a great deal of caution.

Now, so I am not seeming like a no it all critic… Take a look at the 4hr chart on the EUR/GBP. the 8060 level is a 50% retracement from the swing low. There is a down sloping channel that price action is being rejected at now. From price action alone we are entering a zone of support and resistance and the candles are starting to show wicks, which indicates an early sign of a change in momentum. Now I am mostly a candlestick/price action trader but when a number of things come together they dictate my risk level in a trade. I am now looking for a pinbar/ 3 candlestick pattern or bearish engulfing pattern to form and I will start scaling into a short position.

[GivenName]

Personally, I would set SL a couple of pips above the resistance. Did you put it a little above the current price or?

[Yumei]

i usually put stoploss over PB some pips too, but the difference is only when PB touch the R/S and turn back, in this way the stoploss will over R/S level a little. i think you can see it clearly on post# 5040 by Dudest. its exactly what we are waiting. if the PA do not happen in R/S. just skip it, and wait for other chance. i try to get only the A+++ trade. hunting or to be hunted? its not too far.

[QUOTE=Yumei;420516]Just bless that price will not hit your stoploss before come down. i dont think put stoploss on midle ressitance is a good idea. with a little bit patience you can save some pips and smaller stoploss. if there are no PB on daily chart. i will take a short when see PA hit the roof ressitance and trap little bit before come back

i dont think put stoploss on midle ressitance is a good idea.
Give me some new idea . I really don’t know how to stop loss with PA . I usually stop loss high or low of previous bar 5pips

[Jaynesh]

@meadsie

Gidday MT2,
Thought I would post what I am seeing on the EuroYen for you. I too would be waiting for a decent break of that 102.00 to see if short was likely here. Otherwise I prefer the Euro crosses with the Pound & Dollar as per my screen shots. Seem to be better bars from my view. What do you reckon buddy ? :53:

And this is why we should never trade H4

[mtaylor2]

I personally find the 4hr chart very rewarding, although waiting for a setup can be tedious and you have to be rigid in trading discipline and patterns… I think the biggest problem, which is often highlighted is a lack of consideration of fundamental events when taking a trade off any chart less than daily!

[wigglez]

There seems to be a few more up again, one of them on eur/usd 4h

beeb on aud/jpy also

[wigglez]

got a lot more quiet in here.

I’m guessing quite a few got burned on that last one?

[GivenName]

got a lot more quiet in here.

I’m guessing quite a few got burned on that last one?

Still holding my breath on the cad/jpy. Which path will it choose? :33: