FTA = First trouble area
I would consider it as a 2BR. Remember that according to Johnathon: āunlike the EB, the 2BR does not have to fully engulf the previous candle or bar where as the Engulfing Bar does have to engulf at least one previous bar.ā
I use FXDD metatrader , what is the best platform to detect price action patterns ?
sorry for bad english :5:
Platform is not important as long as the candles show NY close time.
How exactly?
Hereās how it looks like here (sorry for low res image).
4hr.
āA banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.ā
-Mark Twain.
I believe I have NY close, but I will be grateful if anyone else can confirm, otherwise Iām giving very bad advice here.
In my charts it looks like this:
thank you very much
Entry too late on that 2bar? It looks like price is currently at the bottom of that big bar where you would have your entry.
Looks kind of iffy to me. the 2bar isnāt very close to the same length Thereās that pin bar to the left that rejected price quite a bit at the current level, and the current bar seems to be doing the same. Itās also against trend.
Any views people.I have spotted something for tommorow,please show me what I have missed.Anyone,even 2 day newbies who have just read the first 50 pages from this thread.
hi m8, IDk I draw my S/R on daily charts and I dont see any strong S/R at this price in confluence with BEEB, If you trade U/CH you can use E/U as an indi, they have almost 100% negative correlation, soo does EU say buy me!? IMO I am not going to trade this one.
PS: Guys I hope you are not offended that I talked about correlations, its just the way it is and something that helps me.
and also IMO U/CH just broke 123 or abc pattern and created Highr High so Iād rather look for longs, anyway good luck
Hi Dudest,
I like your analysis of FTA and swing high for counter trend 2BR on EURJPY. Pls comment here:
http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action-3.html#post429670
and pls also comment the remark from Johnathon on EURJPY (2BR) and EURGBP (BEEB) and my view:
http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action-3.html#post429742
Regards,
Toyogo
Hi everybody! Sorry i cant post some pictures to the thread. But we see the key level on CADCHF and NZDJPY weekly. letās share our ideas:)
Have a lucky week!
andreiirk!
Hi chaps!
I havenāt commented for a while, but still watching from the sidelines.
The good news is that I am becoming more and more picky and am able to more watch the daily charts rather than chase every teeny tiny signal., sometimes its even easier to pass the potential setup and watch rather than trying to squeeze myself in lol
One question though.
I have taken recently few trades on Oil and gold and silver but what turned out, I donāt know how to correctly calculate my position size as after few pips movement I was few times more in profit than expected.
Do u have any links to gold/silver/oil position size calculators? The baby pips one does not have theseā¦
Fil.
For gold I think every dollar is 10 pips. So on one standard lot 1 dollar movement would come down to $100.
Hey guys! Waiting for price action on NZDCHF. Triple top maybe? Lets see.
CADCHF D1 - Waiting for price action
NZDJPY weekly - Could get an entrance on D1 if price action shows up.
If you guys have any potential setup please share.
Iām not entirely sure how to read these charts with such large gaps.
The first thing you have missed is using different charts to the rest.
The second thing is we do not trade any time frame lower than the daily on Monday morning. The reason is very simple and is because the last 2x 4hr candles and especially the last one can have very dodgy order flow. In other words when we are normally entering a 4hr signal we are entering because the bulls or bears have won control and are pushing price a certain way. On the last candle you will find a lot of people are covering their trades or taking of positions for the weekend which makes the last candle very thin and not always a true indication of the current state of play. This will more often than not create false moves.
Johnathon
Top of the morning to ya Jonathon. Any thoughts on selling all euro pairs except EurJpy this whole week based on PA on the weekly charts? Iām willing to do it based on fundamentals + PA if they break their support levels or bouce down from res.