Forex Price Action

[Ltrader]

Seems EURJPY is on a strong upward trend?

True, but looking @ other EURO pairs euro seems to be sliding down now, also trends do end sometimes if even for a retrace.

Perhaps better to wait and see if a retracement to support and then re-evaluate may be the better option?

Cheers

[walker]

Hi Guys,

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

Thanks

Edit: Sell below BEEB, TP Red Line?

If you read the first 70 pages you should be aware that we sell in a down trend at a retrace to resistance …

Big pa at a pull back to ur red line would be a signal to go long with trend …

Guess you didnt read Kay Kays’s post or didnt understand it … :31:
point No2

[Spongybob]

THE TREND IS YOUR FRIEND TILL THE END!

I dont see no lower high to suggest any reversal yet.The support line you have there is a good one but who says price will even retrace to that level? :33:

True, but looking @ other EURO pairs euro seems to be sliding down now, also trends do end sometimes if even for a retrace.

Perhaps better to wait and see if a retracement to support and then re-evaluate may be the better option?

Cheers

[Ltrader]

@walker

If you read the first 70 pages you should be aware that we sell in a down trend at a retrace to resistance …

Big pa at a pull back to ur red line would be a signal to go long with trend …

Guess you didnt read Kay Kays’s post or didnt understand it … :31:
point No2

Thanks for reply, but I was basing my query on the daily TF which shows E/J to be at a pull-back to a down trend, my red line is support/resistance. I guess I will wait and see if price re-traces to it and see what happens, who knows trend could be changing direction?

Didn’t mean to offend.

[Spongybob]

Hey Ltrader

You have me a little confused here, you say E/J is pulling back from a down trend??

The current momentum on E/J is clearly up, many people get confused as to how far back to look, once you do that you start complicating yourself.

Cheers

Thanks for reply, but I was basing my query on the daily TF which shows E/J to be at a pull-back to a down trend, my red line is support/resistance. I guess I will wait and see if price re-traces to it and see what happens, who knows trend could be changing direction?

Didn’t mean to offend.

[Spongybob]

Here is a link I just found from Johno’s site, enjoy!

Live Forex Setup - Trading the Pin Bar Within a Trend

[Ltrader]

Hey Ltrader

You have me a little confused here, you say E/J is pulling back from a down trend??

The current momentum on E/J is clearly up, many people get confused as to how far back to look, once you do that you start complicating yourself.

Cheers

I agree with all that you have said, I merely wanted to know what people thought of seeing a reversal like this in mid space, whether it was a possibility. That’s all.

I agree, current momentum is upwards and perhaps I should concentrate more on the here and now and let price tell me where it is going. If it should re-trace to my line I must wait until a lower high has been formed before looking for shorts.

Not intending to confuse, just clarify the rules in my head. peace :57:

[rajfx10]

Hey guys

Hope you are all well Im looking at this USD/CAD D1 trade hoping a pin bar will close

[mkteer]

@rajfx10

Hey guys

Hope you are all well Im looking at this USD/CAD D1 trade hoping a pin bar will close

Isn’t it a bit too small ?

[rajfx10]

Isn’t it a bit too small ?

Yea I was thinking the same thing, Just wanted abit more insight, the other thing I also saw is its also on the 50% fib level.

[RubenE]

Yea I was thinking the same thing, Just wanted abit more insight, the other thing I also saw is its also on the 50% fib level.

I personally wouldn’t trade this, because the pinbar is very small and doesn’t stick out. On top of that you would have to fight all that downwards force with such a small pinbar, so the odds aren’t in your favor.

[rajfx10]

I personally wouldn’t trade this, because the pinbar is very small and doesn’t stick out. On top of that you would have to fight all that downwards force with such a small pinbar, so the odds aren’t in your favor.

Thanks guys I wont trade this one but what I will do is sit it out and watch from the sidelines. Anymore set ups anyone has a eye on?

I was also looking at a potential bearish engulfing bar on the AUD/USD daily (Nearly formed)

[cams75]

I was also looking at a potential bearish engulfing bar on the AUD/USD daily (Nearly formed)

Against the trend?

The trend is your friend

[valkarg]

If in doubt do nout. That’s what I always say. Also always keep an eye out for being screwed by the broker. Just had to phone the desk to make sure my tailing stop worked properly.

[fazliy]

yesterday i placed order buy from the pinbar and this morning my stoploss was hit… can you guys give some comments regarding on the setup? (sorry for my bad english…:21:)

[babycake]

@fazliy

yesterday i placed order buy from the pinbar and this morning my stoploss was hit… can you guys give some comments regarding on the setup? (sorry for my bad english…:21:)

Hi, the pin bar was an indication of a false break BUT I would have liked it to be bigger in size and have closed more bullish. I always wait for the break of the signal bar high/low before being entered into the trade. If you do this you would have never been in this trade.

Seems like many breakout traders got faked out by the bulls at first (at your pin bar) but eventually the bears gathered together for a big meal.

[BOC]

Hi, the pin bar was an indication of a false break BUT I would have liked it to be bigger in size and have closed more bullish. I always wait for the break of the signal bar high/low before being entered into the trade. If you do this you would have never been in this trade.

Seems like many breakout traders got faked out by the bulls at first (at your pin bar) but eventually the bears gathered together for a big meal.

Also if we look at the daily chart, seems that is not a major support level?

[fazliy]

Hi, the pin bar was an indication of a false break BUT I would have liked it to be bigger in size and have closed more bullish. I always wait for the break of the signal bar high/low before being entered into the trade. If you do this you would have never been in this trade.

Seems like many breakout traders got faked out by the bulls at first (at your pin bar) but eventually the bears gathered together for a big meal.

thanks for your comment… i think i need to calm and clear my head first before find another entry…

[waldmann007]

Hey guys. I’m waiting for pullback on NZDUSD. Possible trade for next week (LONG at 0.83567) if any price action signal occur.

NZDJPY is also in a very similar situation but I guess it will take more time for a pullback on support.

Best trade for me this week was on GBPCHF. Downtrend pullback at trendline. Pinbar. Good enough for me.

Worst was AUDNZD. I was naive to think that the pin bar on H4 could reverse the trend.

Have a nice weekend all.

[bygjj]

@waldmann007

Hey guys. I’m waiting for pullback on NZDUSD. Possible trade for next week (LONG at 0.83567) if any price action signal occur.

NZDJPY is also in a very similar situation but I guess it will take more time for a pullback on support.

Best trade for me this week was on GBPCHF. Downtrend pullback at trendline. Pinbar. Good enough for me.

Worst was AUDNZD. I was naive to think that the pin bar on H4 could reverse the trend.

Have a nice weekend all.

Nice. We have the same trade as GBPCHF, half of it still running free. Just hit my TP for NZDUSD for 280 pips. My booboo was for another pair. Will not trend news ever again. Happy weekend too.