Forex Price Action

[wigglez]

@maxryan9999

Can you upload a image for me about higher low you say ?

Hopefully this shows up ok

Edit: Guess it doesn’t keep the res. here’s the link

[maxryan9999]

@wigglez

Hopefully this shows up ok

Edit: Guess it doesn’t keep the res. here’s the link
http://wigglez.net/forex/pa_images/eurusd.png

As you say it doesn’t have next “high low” which is lower . At such my mind

[dudest]

Hallo peeps!

Thoughts on some of yesterday/today charts:

1) EURUSD H4:

-> 1.3000 area is now great for shorts but no matter how you twist it, that candle is NOT a BEEB and is also very small.

2. GBPCHF D1:

-> The pinbar is valid IMO but closed too bullish for my liking with a lower wick also longer than I’d like. There’s also that trouble area right under the entry where price could stall/turn-around.

3. AUDCAD D1:

-> Price is not really showing where it wants to go. I do not fancy the BUEB coz of the boxing/traffic on the left. I’d like to see price clear away from that first, then pullback and give PA which would then have space to move in. As Johnathon says: “price looks to go the easiest way”

4. AUDNZD D1 & H4:

-> Counter-trend pin was nicely formed, but had all that strong down-move and previous support/now resistance going against it… I’d rather wait for price to fall further, and pull back decisively, and produce short PA to rejoin this strong downtrend

Cheers

PS: this does not mean any of them will not work out as thought. I just won’t be risking my money on them

---

[dudest]

Goodstuff… The NZDJPY is at yearly highs. Should be interesting what happens next, watching this space…

The NZDUSD is also at a key area ( monthly highs ).

Cheers

[Forex_School_Online]

AUDNZD H4. Spread for me was 9 pips. Don’t know for mkteer.

Sorry if I intruded on the conversation.

You guys and gals need a new broker as 9 pips for AudNzd is outrageous. 3 or 4 is ok and that is same for EurNzd. It simply makes it much harder to make profit when put at such a disadvantage before you even enter a trade. Treat your trading like a business and look to cut costs to be more competitive in the cut throat business of forex.

[Forex_School_Online]

Hi Jonathan,

It took me about 2 days to read all the first 50 pages of this thread. What an amazing information!! i have started FX trading few months ago. I am glad i found this thread (PA) with in few months of my trading experience. Now, I don’t have to wander around any more threads looking for the “PERFECT” system. I just want to take this opportunity to thank you and your team helping to spread PA techniques. Looking forward to join your members area also.

Hello kay and welcome aboard!

Now you have read the first 50 you would be really well served to read the next 50.

You are lucky you have found trading with price so early. Many do not and by the time they do it can be really hard after all the bad habits they have gotten into!

If you have questions post them up. Safe trading,

Johnathon

[Forex_School_Online]

Still uptrend with EU But it look like BEEB ?

Everyone wants to trade against the trend with this and AudNzd. The best and most reliable setups are with the obvious trend.

Sometimes trading against the trend can be a great play but we need large obvious pa at great levels.

This was small, not at great level and not even a Bueb.

Safe trading,

Johnathon

[wigglez]

As you say it doesn’t have next “high low” which is lower . At such my mind

I don’t consider it a downtrend, just a weak uptrend, could start to range.

The swing high hasn’t formed yet.

[teofil00]

Hey,

Have been trading forex for about only 3 weeks. Still on demo account.

First i tried short term trading which was time consuming and a disaster…

Then i went on 4 hour and daily, looking at long term channels… Very similar to your technique if not the same. Seeing this now i have more confidence that this very simple idea works.

I think it is a bad habit to trade against the trend if over done and unsure. Thats how i lost most. I think its also very important to cut losses and profits once a day.

On the demo account with starting 2000$ in 1 week i made about 900$, which is nearly 50%. With volume of 0.30 in each 4-5 pairs. The best thing about this technique is that it isn’t time consuming at all. Only took me around 3-5 hours to analyse and research pairs. :21:

[cams75]

Hey,

Have been trading forex for about only 3 weeks. Still on demo account.

First i tried short term trading which was time consuming and a disaster…

Then i went on 4 hour and daily, looking at long term channels… Very similar to your technique if not the same. Seeing this now i have more confidence that this very simple idea works.

I think it is a bad habit to trade against the trend if over done and unsure. Thats how i lost most. I think its also very important to cut losses and profits once a day.

On the demo account with starting 2000$ in 1 week i made about 900$, which is nearly 50%. With volume of 0.30 in each 4-5 pairs. The best thing about this technique is that it isn’t time consuming at all. Only took me around 3-5 hours to analyse and research pairs. :21:

Wow just think if you keep up at that rate you will be a millionaire in less than 6 months.

I just try to maintain 6-10% return per month which long term I think you will find is more than adequate and alot less stress, once you are live that is.

[KayKayV]

After reading the first 50 pages, i have written down few points that i felt are very important and basic fundamentals to remember all the time (may be stick it on your wall :p) when using PA system. I thought i would share with everyone, may be this will help some one at some point of time.
This may help new members like me to get an overview idea or fundamentals of PA. And will help few senior members refresh their memory (after all these points are given by them few months ago)

Here we go:

1. A super common mistake with new traders is picking tops and bottoms!!! Always try to trade within the trend. Wait for pullbacks. Extreme highs and lows are super dangerous.

2. REMEMBER:
   you LONG from SUPPORT
   you SHORT from RESISTANCE
   you trade AWAY from levels, NOT into them

3. Checklist for Price Action entry:
   -> Which PA signal seen: Pin bar, Engulfing, 2 reversal bars, Inner bars (i personally dont like to follow IB :))
   -> What is the trend: Up or Down, trade along with the trend
   -> Is it occurring at a relevant Support or Resistance zone:
   -> How big is the PA signal: It should STAND OUT compared to all previous bars
   -> Is the PA signal occurring from a pullback within a relevant trend? Answer should be YES all the time.
   -> If it’s a reversal signal, is it happening at a relevant swing high/swing low? Don’t forget the swings

4. Price is telling us a story and it is our job to put it together

5. Be very picky and conservative while picking the trades

6. 4 to 5 trades per month is good enough

Hope i got them right. Please feel free to correct me.

[waldmann007]

Hey, I know we still have some time to D1 candle close but I would pay attention to NZDCHF. If D1 candle engulfs the last one, I’m shorting it.

What is your opinion about it?

[andreiirk]

Hello KayKayV!
I absolutely agree with yours points, especially the 5 point! The last thing i want to say is I always draw all lines of resistance and support ( horizon) at the weekend, so i would not make any mistake and be emotional when i see some PA signal and something like that from “no man land” !
All have good trading.
Best regards!
Andreiirk

[partido9]

Jonathan , or Forex School Online

              Thank for the thread and the price action posts. I have a small request , can please post daily(if not atleast for some days ), about the four hour and daily chart analysis of the pairs ( with key support and resistance levels) that u take trades on. I always get confused about which key support or resistance levels is stronger and may except a reaction at that level. I know its too much to ask but if u can do this help it would mean a lot to me .

[dudest]

Jonathan , or Forex School Online

              Thank for the thread and the price action posts. I have a small request , can please post daily(if not atleast for some days ), about the four hour and daily chart analysis of the pairs ( with key support and resistance levels) that u take trades on. I always get confused about which key support or resistance levels is stronger and may except a reaction at that level. I know its too much to ask but if u can do this help it would mean a lot to me .

Hallo partido9, and welcome!

I’m not Johnathon (obviously :)) but lemme tell you what will get you those charts quicker: post up your charts (whatever pair you want to check out) [B]with your own S/R’s marked out[/B], and you’ll see how quickly members will chime in with their suggestions and their own S/R levels.

Deal?

Cheers

[kurtmackenzie]

Guys, any thoughts on this one? AUDCHF D1

[walker]

@kurtmackenzie

Guys, any thoughts on this one? AUDCHF D1

My thoughts kurt

[walker]

After reading the first 50 pages, i have written down few points that i felt are very important and basic fundamentals to remember all the time (may be stick it on your wall :p) when using PA system. I thought i would share with everyone, may be this will help some one at some point of time.
This may help new members like me to get an overview idea or fundamentals of PA. And will help few senior members refresh their memory (after all these points are given by them few months ago)

Here we go:

1. A super common mistake with new traders is picking tops and bottoms!!! Always try to trade within the trend. Wait for pullbacks. Extreme highs and lows are super dangerous.

2. REMEMBER:
   you LONG from SUPPORT
   you SHORT from RESISTANCE
   you trade AWAY from levels, NOT into them

3. Checklist for Price Action entry:
   -> Which PA signal seen: Pin bar, Engulfing, 2 reversal bars, Inner bars (i personally dont like to follow IB :))
   -> What is the trend: Up or Down, trade along with the trend
   -> Is it occurring at a relevant Support or Resistance zone:
   -> How big is the PA signal: It should STAND OUT compared to all previous bars
   -> Is the PA signal occurring from a pullback within a relevant trend? Answer should be YES all the time.
   -> If it’s a reversal signal, is it happening at a relevant swing high/swing low? Don’t forget the swings

4. Price is telling us a story and it is our job to put it together

5. Be very picky and conservative while picking the trades

6. 4 to 5 trades per month is good enough

Hope i got them right. Please feel free to correct me.

Nice work KayKay I’m impressed …
cheers pw

[Ltrader]

Hi Guys,

Been reading first 70 pages and wondered what you thought of this?

Thanks

Edit: Sell below BEEB, TP Red Line?

[BOC]

Seems EURJPY is on a strong upward trend?

Hi Guys,

Been reading first 70 pages and wondered what you thought of this?

Thanks

Edit: Sell below BEEB, TP Red Line?