Forex Price Action

Hi Wigglez, I can confirm it was indeed a BEEB on the H12.

Good job on managing the already open trade

Funny thing is - I still donā€™t know how to take partial profit automatically (i.e. close half of position when Iā€™m asleep or watching hilarious airedale terrier videos on youtube). Do I need some preprogrammed module for this? If Iā€™ll just set pending order to long 1/2 - will it really close half of my position, or just add another position to a total of 2? Iā€™m trying Papperstone at the moment if this is relevant. Probably this was already covered somewhere in these 939 pages lol, - if so, could anyone direct me to much needed page:)

Thereā€™s nothing special needed. You just open more than one position with different TPs. E.g for SELL:
Position #1: entry, 1.3300; TP1, 1.3200
Position #2: entry, 1.3300; TP2, 1.3100, & so on
[ NB: profit targets governed by relevant horizontal levels in priceā€™s path ]

Btw, Pepperstone is not letting me to place orders for several minutes after NYclose, neve had this trouble on FXdd.

Yeah, some brokers shut down for an hour or so after NY-close (thereā€™s a brief off-market period between NY-close and Asia-open)

Another question - I read here that engulfing bar must close in last 1/3, right? But what about length of body to lenght of wicks ratio? If EB is closed in last 1/3 of itā€™s total length (from Low to High), its body still must be at least some % of this total length, right? Like 1/2 , or 1/3? I mean, doji probably would not suffice.


Uhm, youā€™re thinking it too much :slight_smile:
So long as it has engulfed the previous candle, it is an EB
And if it formed at a key horizontal level and correct swing point, and is closing in the last 1/3rd of its length, it is a trade-able EB.

Cheers!

RoboForex also have NY-close MT5, pretty kul

Wow, so a lot of setups I have considered bad were actually OK:36: Thanks for clarifying it for me, Dudest!

And collapse in the short-term it didā€¦


.

Guys, is there some broker on who I can open a demo account with Commodities and Indices?

Axiory have some commodities and indices, I use some of them - WTI, Brent Oil, NGAS, copper, SP500, Nasdaq etc.

I have faith in my trade although it went up like that lol


Hello everyone,

What do you think about the BUEB formed on EUR/USD H4? I like to know your opinion.
Thanks!


I have buy limit order, but only with smaller position as I see it as counter recent sell off. EUR/GBP closed now as a big pin bar.

Hi pedramslhr,

What were your thoughts on this trade as I see youā€™ve already entered? I like the look of it but am cautious against going long against all the bearish momentum. Would you consider the level it formed at to be significant support?

Iā€™m on pending orderā€¦ I think itā€™s have all ingredients (Nice support, 4h BUEB and trend).12H TF bar is going to close PBā€¦ We will seeā€¦
Let the price action be with you Obi Oneā€¦ :wink:

Yes tomyates,
itā€™s not completely visible in this image but zooming out a little more convinces me to enter. And Iā€™m not entered yet my buy stop order hasnā€™t got triggered currently.

edit: and about the momentum; I think the overall trend is bullish.

I skip that trade. it didnā€™t close below the line.

nice spot. I already pending on that

Look at GBP/USD, guys:


Iā€™m also planing to short on EUR/GBP Jackson mentioned. (Both are Daily)

The price action signal would need to be large and obvious to be taken against such strong selloff. Looks like a good BUEB at an important level, Iā€™m in! =D

Entry at 50% Fib retrace.

Hey Kugman whereā€™s your 50 level at, about 1.3295?

50% fib is exactly 1.3198, which is a nice entry due to major support and BRN right there

EURUSD looking for short setup