Forex Price Action

[Spongybob]

Hey bygjj

Nice clean charts you have there, keep it up.

nctrades, if I may respond so long for Johno, its not a matter of posting setups daily, but rather posting good quality
setups as they happen.

Cheers

[Pingback]

Thanks for tip, but it looks like more spam! I’ll check it out, though!

[Pingback]

I was checking out your web site, and your course, how does your price action method compare to smart money action. Are they intertwined.

[Pips_Ahoy]

i downloaded and setup the pepperstone mt4 program and have pulled up one chart for each currency pair they offer which is 23 in total (no gold or silver and not as many pairs as the standard mt4 program though)

i was wondering how do i manage the charts neatly and still be able to keep track? if there are only 23 pairs with no gold or silver how can i get those into the platform? also, is the new york close time automatically applied or do i have to set something?

thanks in advance

[Forex_School_Online]

i downloaded and setup the pepperstone mt4 program and have pulled up one chart for each currency pair they offer which is 23 in total (no gold or silver and not as many pairs as the standard mt4 program though)

i was wondering how do i manage the charts neatly and still be able to keep track? if there are only 23 pairs with no gold or silver how can i get those into the platform? also, is the new york close time automatically applied or do i have to set something?

thanks in advance

Heya,

yeah they do you just haven’t found them yet. Okay so first of all NY close is auto. Nothing else needed. That data is set by broker. To find other pairs and gold and silver please do following:

Open your MT4 select “View” and them “Market watch” hover your mouse over all the prices and right click. Once you have done that you will see “Show all” will come up. Click this and there are all your pairs and gold and silver or XAUUSD AND XAGUSD.

Hope this helps,

Johnaton

[Forex_School_Online]

I was checking out your web site, and your course, how does your price action method compare to smart money action. Are they intertwined.

Sorry I am lost Pingback. What is smart money action? Anyways if you have questions can you please PM me? My details are in my profile. Can we please keep this thread to Price Action setups.

Johnathon

[ywboo3]

Hi bygjj!, and welcome

I will share my opinion on the chart you’ve shared. (You didn’t explicitly state which pair but your chart is nicely clear enough to tell it’s EURJPY )

=> Is this a valid trade? I think so. Setup: BUEB at key support
=> How to enter? I think at the break of the BUEB high ( the high from my chart was 108.001 )

NB: Due to the large amounts involved in a weekly trade (e.g entry above BUEB high, stop loss midway or below BUEB low), may be a good idea to look for long entries on Daily or H4 timeframes

Would love to hear other’s comments

Cheers!

Looking at the reward risk ratio, it doesn’t seem ideal as there is a resistance at 108.5 in the daily TF

[bygjj]

All your comments are highly appreciated. I really like it when experts are sharing their insights. Help us newbies think.

[ywboo3]

All your comments are highly appreciated. I really like it when experts are sharing their insights. Help us newbies think.

Hi bygjj
In case I mislead u, i m also a newbie on a demo a/c. So take my comments with a pinch of salt okie.

[bhops]

Hi! I’ ve been lurking on the thread and read up to pg.63. Great thread so far learning a lot. However when I tried to implement on the demo account I am not even sure I am doing it right. Anyway here’s my graph. (Should read bueb, sorry) on the major S and R. The weekly was a bounce off from 110. Before I plan to enter should I wait another bounce off or enter at the break of bueb weekly? or is this even a valid trade?

Hi bygjj, welcome to the thread.

Just a couple of things, we don’t really tend to wait for any ‘bounce back’ as such. When we take trades from swing highs or swing lows and we get the Price Action we want we simply play the break whether it be a Pinbar or an Engulfing bar.

Now as to this actual trade, who knows it could go on to be a winner but I/we really like to sit back and wait for the BIG PA signals. For a perfect example just take a peep to your left on this chart and you will see a huge PB signal on the 30th October.

It really ‘sticks out’ and yells ‘trade me!’ Now I know trading large signals freak some traders out because it’s hard for them to work out their lot/position sizes and stops but that is a conversation for another day. this thread is for learning to identify great PA signals at good Support and Resistance zones. Until you can do that position sizes and stops don’t mean a thing!

Does this BUEB scream the same way???

[Forex_School_Online]

What do people think about this Pin Bar or what is their opinion etc?

GBPCAD DAILY CHART

Johnathon

[bygjj]

Im not sure if you trade using daily. I saw this brewing in audnzd pair. Any comments?

[bygjj]

Hi bygjj, welcome to the thread.

Just a couple of things, we don’t really tend to wait for any ‘bounce back’ as such. When we take trades from swing highs or swing lows and we get the Price Action we want we simply play the break whether it be a Pinbar or an Engulfing bar.

Now as to this actual trade, who knows it could go on to be a winner but I/we really like to sit back and wait for the BIG PA signals. For a perfect example just take a peep to your left on this chart and you will see a huge PB signal on the 30th October.

It really ‘sticks out’ and yells ‘trade me!’ Now I know trading large signals freak some traders out because it’s hard for them to work out their lot/position sizes and stops but that is a conversation for another day. this thread is for learning to identify great PA signals at good Support and Resistance zones. Until you can do that position sizes and stops don’t mean a thing!

Does this BUEB scream the same way???

. Nope. I got it. Should be very obvious PA signal on S&R. Thanks for the comments.

[Forex_School_Online]

Im not sure if you trade using daily. I saw this brewing in audnzd pair. Any comments?

Hello,

okay so yes dailies are my fav to trade. Heres the thing: The daily charts only closed 5 hours ago so this one has 19 hours to form. This could look like anything in 19 hours time. The other thing is it is not a BEEB as it does not engulf the previous bars highs.

Okay so the best way I have found over the years is to get into a routine. An example of this is to only check my charts at certain times. For example only check at the 4hr candle closes during the New York and UK sessions and then the daily close. This way you wont be concerned what is happening and waiting for hours and hours for something to for

I hope this helps.

Johnathon

[Jinz]

What do people think about this Pin Bar or what is their opinion etc?

GBPCAD DAILY CHART
<img src=“301 Moved Permanently”/>

Johnathon

Well it’s a good pin bar however since Gbp is the strongest currency so far, i don’t wanna go short on it IMO. I still think Cable is gonna go higher.

[bygjj]

Hello,

okay so yes dailies are my fav to trade. Heres the thing: The daily charts only closed 5 hours ago so this one has 19 hours to form. This could look like anything in 19 hours time. The other thing is it is not a BEEB as it does not engulf the previous bars highs.

Okay so the best way I have found over the years is to get into a routine. An example of this is to only check my charts at certain times. For example only check at the 4hr candle closes during the New York and UK sessions and then the daily close. This way you wont be concerned what is happening and waiting for hours and hours for something to for

I hope this helps.

Johnathon

Very good point. So I need to sleep and check after NY closes. Im so thrilled to join your thread. I m learning a lot. I highly appreciate you started this thread and help out newbies like me. I hope I can trade PA in the future.

[ywboo3]

@Forex_School_Online

What do people think about this Pin Bar or what is their opinion etc?

GBPCAD DAILY CHART

Johnathon

Hi Johnathon
This setup looks promising to me.

1. The pin bar looks valid to your definition and it definitely sticks out prominently.
2. Before the pin bar happens, the pair was trending up quite strongly (good momentum)
3. If we can use the most recent swing low at 1.572 as the first support area, it has a good risk reward ratio.
4. I am also tempted to say that the pair is trending down before it starts to consolidate in Mar. So this is in this trade’s favor as well.

If we are trying to be picky, the first support is showing at 1.588 in H4 which make the risk reward less attractive.

[Jinz]

I think it’s a good pin bar Johnathon and on swing high too, however since cable is very bullish this couple days and look at the calendar news, there’s no big news about cable, so i think it’s gonna go higher or choppier. On wednesday cable GDP coming out, maybe we’ll get a clear direction then imhp.

[Forex_School_Online]

Hi Johnathon
This setup looks promising to me.

1. The pin bar looks valid to your definition and it definitely sticks out prominently.
2. Before the pin bar happens, the pair was trending up quite strongly (good momentum)
3. If we can use the most recent swing low at 1.572 as the first support area, it has a good risk reward ratio.
4. I am also tempted to say that the pair is trending down before it starts to consolidate in Mar. So this is in this trade’s favor as well.

If we are trying to be picky, the first support is showing at 1.588 in H4 which make the risk reward less attractive.

It is much easier assessing levels, targets stops etc all from the one chart etc. So for example if you are to take trade from the daily it would be advised to stick to the daily.

The other major reason not to go down the time frames is the smaller time frame the more smaller and insignificant support and resistance levels you will pick up. I have found over time the best way of doing it for myself it to treat each time frame independent from one another.

Johnathon

[ywboo3]

It is much easier assessing levels, targets stops etc all from the one chart etc. So for example if you are to take trade from the daily it would be advised to stick to the daily.

The other major reason not to go down the time frames is the smaller time frame the more smaller and insignificant support and resistance levels you will pick up. I have found over time the best way of doing it for myself it to treat each time frame independent from one another.

Johnathon

Agree. The levels at the daily is more significant than H4 and below.

Not sure whether you would frown on the below:

I have the habit of looking at M5 to see the price action responds to the level. It is interesting to see that it looks like a classic 2 bar reversal in the 5 min TF (and at a high volume too). This gives me more confidence in the trade.