Forex Price Action

[vasude]

Wrong thread Vasude as we don’t trade IB breaks or Indecisions candles in here…

oh ok,i think of discussing,ok my mistake…

[Forex_School_Online]

oh ok,i think of discussing,ok my mistake…

Sorry mate just trying to keep on track with what we do. I know there are other threads that you participate in that discuss them, but they are not for us in here.

Thanks V.

[forex4worth]

Hi buddy,

This video will help you understand why s/r is never a single line, but rather a zone and why.

As to why there is a difference in numbers of decimal places - it depends on the broker, some give you extra information by providing pipettes, not just only pips, but I am more than certain you can google that; let’s stay on the topic and focus on charts

Fil.

Thanks a lot for that video link .That video answered my all questions and that was a wonderful way to illustrate S&R.
Thanks.

[forex4worth]

@michalkraus

it doesnt really matter if the S/R is 1,6000 or 1,6001. S/R is almost never the exact price, its a zone like 1,5990-1,6008, because every broker has a different data feed. First of all recognise the S/R and then mark VBRN like 1,3000 or 1,4000. They are more psychological prices, because lot of traders watch them.Johnathon teaches us to draw just a line, because it makes clean charts, but S/R is never one price, Hope you get my english:-) take a look on E/U chart for example

Thanks for the answer and your english is excellent.As you can see in a video link which filipl posted,the forex market is actually driven by the big guys like banks,firms etc.And they place their buy/sell order in big numbers( millions) .Thats why as you said a lot of traders watch such VBRN,s.
Thanks.

[forex4worth]

Hello)Below is the 4 hour intraday chart of EURUSD. I entered in a EURUSD long trade after the closing of the bullish pin par reversal signal at the bottom KHL but it went through many sideway candle patterns.And i thought many times to close this trade because of those sideway patterns.

Here is what next happened.The price touched at 1.3370 and i closed my long position with the profit of 55 pips. But i snap this chart later thats why you can see that black candle .

Anyone else took this trade? And should i have to quit my position in such indecisive sideway patterns ? Or at the end i made profit because i gambled?)
Thanks.

[forbiden]

Hi, Johnaton. Firstly I want to greeting you for the best method to trade. I’m very happy to found it.I learn to trade from 2 years, with some successfull, but when I read for your method here, that gave me alot of “enlightenment” about trading.Now I follow this forum and I’m very appreciated for what you are doing for us.Thanks
P.S. Sorry for the off-topic

[giddy]

I didn’t take that trade. Thought it was too close to the floor, not atleast 1:1. In which case It wouldn’t have hit my tp yet, and would be losing right now. If I managed it well though, I would have hit BE.

Has anybody here found good trades on the currencies? I haven’t seen any this month, and it did look like I missed a couple though.

wigglez,

Me too i have been sitting on my hands nearly the month is ending.I bet my patience is being tested!!!:eek:
But every time i read Jonathan post,the more choosy i become.I believe i will see consistent rewards going forward

[wigglez]

@Forex_School_Online

USDJPY 4HR Chart

EURNZD Daily Chart

Silver daily chart

Johnathon

Thanks Johnathon,

Didn’t see the usd/jpy trade. Allowed 20 pairs on my charts and didn’t have the usd/jpy pair up. I actually ended up trading my eur/chf pair out for the usd/jpy last week.

I did see the eur/jpy bueb on that day though. I didn’t take that because it was trading right into the 114.5 resistance.

I didn’t take the eur/nzd because it was trading right into 5700 resistance, and the 5800. For a 1:1 it would have to go up to 5900.

What am I doing wrong?

[Paddymctaff]

tell me why daily charts are like women

\

Because there are none for ages and then three come at one

[varnuunas]

When then?

[dudest]

Thanks Johnathon,

Didn’t see the usd/jpy trade. Allowed 20 pairs on my charts and didn’t have the usd/jpy pair up. I actually ended up trading my eur/chf pair out for the usd/jpy last week.

I did see the eur/jpy bueb on that day though. I didn’t take that because it was trading right into the 114.5 resistance.

I didn’t take the eur/nzd because it was trading right into 5700 resistance, and the 5800. For a 1:1 it would have to go up to 5900.

What am I doing wrong?

Hallo wigglez,

I don’t think you’re doing anything wrong…

-> USDJPY trade: didn’t see, not a sin. I’m sure you’ve now added it to your watchlist
( ps: I’m still not sure about EURCHF, there’s no telling when the SNB will start interfering again, so I still don’t look at it )

-> EURJPY & EURNZD: you stayed out because in your analysis they were trading into trouble => good on you!, picky is good!, always wins out in the end as Mr J always says.

Cheers!

[wigglez]

Hallo wigglez,

I don’t think you’re doing anything wrong…

-> USDJPY trade: didn’t see, not a sin. I’m sure you’ve now added it to your watchlist
( ps: I’m still not sure about EURCHF, there’s no telling when the SNB will start interfering again, so I still don’t look at it )

-> EURJPY & EURNZD: you stayed out because in your analysis they were trading into trouble => good on you!, picky is good!, always wins out in the end as Mr J always says.

Cheers!

I guess. Missing trades is not so good. Especially on longer tf’s where good setups are few and far between. It messes you up.

[dudest]

I guess. Missing trades is not so good. Especially on longer tf’s where good setups are few and far between. It messes you up.

I know what you mean… it makes the wait to the next wave feel longer

[B]BUT[/B] new setups [B]will[/B] come, you can count on it.

For what it’s worth, I also didn’t take the USDJPY and EURNZD for same reasons as yours (thought they were running into trouble areas). It could have gone any way; no-trade is also a position (credit:Bryce)

Cheers!

[EJ_2301]

I’m looking for entering short on USDCHF on H4 time frame.
My reason are :

1. previous candle showed that price was rejected several times by the resistance and big round number of 0.9300.
2. several previous candles cannot close beyond 0.9300

any thoughts and inputs?
thanks
EJ

[Forex_School_Online]

@EJ_2301

I’m looking for entering short on USDCHF on H4 time frame.
My reason are :

1. previous candle showed that price was rejected several times by the resistance and big round number of 0.9300.
2. several previous candles cannot close beyond 0.9300

any thoughts and inputs?
thanks
EJ

Not a trade we would take. i have posted about why not a lot in this thread. I have even covered it again in posts in the last 10 pages or so.

That’s not to say it wont work out mind you.

Johnathon

[michalkraus]

where is your swing with lower high since you are in downtrend and want to short it?

[dudest]

Trade opp I’m watching out for: USDJPY H4 (shorts)

Cheers!

[EJ_2301]

Could you please explain a bit about “higher high” “higher low” “lower low” “lower high” ???
I’m still confused about that terms.

thanks
EJ

@dudest

Trade opp I’m watching out for: USDJPY H4 (shorts)

Cheers!

[EJ_2301]

Thanks, I will read it again

EJ

Not a trade we would take. i have posted about why not a lot in this thread. I have even covered it again in posts in the last 10 pages or so.

That’s not to say it wont work out mind you.

Johnathon

[Gangman_style]

@EJ_2301

Could you please explain a bit about “higher high” “higher low” “lower low” “lower high” ???
I’m still confused about that terms.

thanks
EJ

Hm, mi opinion is that your upper line is incorect, see how I drawn: