Congratz, PipDom! Good for you to have that kind of increase!
However, I want to read more between the line here. Trading 100 times in the 3 past months means you literally have 1 trading in almost daily basis. As much as I’d love to kill to increase my capital like the way you did, I’m pretty sure you’re overtrading way too much and I found it hard to believe that all of them are even in A+ setups. Just my two pipettes. :21:
Yes it is easier but you are missing out on a lot of information that can be really useful such as where price can and cannot close.
On the daily chart we can learn a lot about where price can and cannot close and whilst to newbs they are battling to just mark their basic levels and are not worried about where price is struggling to close out of, as traders grow and have more experience this become more important especially to marking key levels and to learning how the market moves. Watching how price reacts at these levels and how price moves in boxes and then cannot closes out of an area can tell us a lot about an area and you cannot see any of this on a line chart.
Johnathon
Quick heads up before I go to bed as 2am here… A pair I will be watching heavily on all timeframes such as 4hr, 8hr daily etc for short trades for any rotation back into the resistance marked on the chart below is the NZDJPY. Price has broken a key support and could now look to hold as a price flip support level and should we get a rotation higher I will look to get short if A+ bearish PA presents.
NZDJPY DAILY CHART
Safe trading,
Johnathon
Thank you. I wasn’t sure. Now I learned y you confirmed the concept.
Good Trades!
I would like to see Johnathon view on this, becouse im not sure when to trade ranging pairs PA.
Hi traders.
I’m on ChfJpy and GpbCad.What do you say about this?
ChfJpy Daily chart
1)It is on top on resistance + Psy level at 107.000
2)We have BEEB
Riding it through the storm , eh?
If we spot a trade on the 4HR we should not analyse it on the daily TF we should stick to the time-frame that we spotted it on which in this case is the 4HR
.
Very naaaaaice!
Hi,
once again about EURAUD 4H.
Firstly i thought it is a good A+ trade … main resistance + nice PB = short trade opportunity.
Now I’m not sure (not because it goes against me;)) but how someone post … there is minor resistence/support below PB.
But I think in ranging market there are almost always minor support/resistance between the main ones.
I don’t think there is no place where to trade.
So was it good or bad trade? 
… Probably bad question … so was it A+ trade?
thanks
Bambi
I got stopped out too.
Great question, the more you understand the market the better you get, so I appreciate the honest question about why or why not a trade should be taken. I have seen some other veterans have answered this already, but I didn’t read their posts because I didn’t want to unconsciously copy someone else’s answer, haha.
To me this was an A trade or pretty darn close. There has been no clear trend in this pair for a while now. Some people may say the trend is up, but that isn’t true. “Price” is up, obviously price must move up to reach the top of the range. But “price” doesn’t equal “trend”. a trend is the swing highs and lows of price. Since we are trading daily candles, we want to look at the daily price swings, which right now is price moving up and down inside of a price box(154-147 roughly). Any pair is either trending or ranging, most of the time most of the pairs are ranging.
Once you identify your range, you can then begin to look for price action at its extremes. Since the pair is ranging there is no bias bullish or bearish until an extreme of the range is met. Price can only do 1 of 2 things at the top of a range, break out or pull back. The pinbar on the daily showed that there was not enough demand(not enough buyers) to move the price out of the range.
Why was it an A trade to me… First, what is a “large” pinbar? "Large"is a vague term unless compared to something. To measure “large”, I just look at the previous candle or candles. Was it at least as large or larger than the last handful of candles? The rest of the pinbar requirements are either yes or now(wick length 3 x body, body in bottom 3rd, close within previous candle); yes, yes and yes. Now look at the whole context of the price action. Are we in a range, are we in the extreme top or bottom of that range, did the candle close above or below the ranges resistance level, is price choppy? Yes, Top, Below, No. I now have checked off about 7 or 8 things I want to see in a good range trade with the candle itself and how it looks within the entire chart context.
Sorry for being long winded, hope that helped someone.
I’m out too.
How you wrote “it looks like a fast move” 
cheers
bambi
one possible trade?
i don’t take it but looks good to me
I don’t look at daily chart it is strong downtrend but on 4H chart it looks nice to go long (support + BUEB)
cheers
Help it to me a lot.
Thank you for your time and good explanation.
Regards,
This is how I see it (I´m no expert):
I didn´t take the trade because:
Best regards
I agree, shorting the EUR/AUD right now would be a bad idea. That pair has been making higher highs and higher lows for the past 6 months or so. You would want to trade with the trend, and wait for a pullback to support. That pinbar closed above a BRN and above an important support right around the same level to boot.
Hi,
you are probably right.
I definetely agree with large bullish candle
support level below entry … it is true … but I still think there is main resistance above PB
strong uptrend … not sure … it depends how long to the past are you looking (look at my graph 
)
and I think that if you trade on 4H chart you should look only at 4H chart not at 1D chart
thanks for your opinion
cheers
bambi
It’s true you shouldn’t set your entries/stops/TP levels on any other timeframe than the one you make your trade based on, but if you want to get a good quick look at the trend, daily is a good place to look. You don’t need to go to daily, even in the 4 hr you can see the trend. There is no magic number, but you need enough price swings on your chart to establish a direction. For a trend you would want 2 swing highs and 2 swing lows in a certain direction. On your chart you only grabbed enough candles to show the last 2 swings, 1 high and 1 low, but that’s not enough data to determine the overall trend.
I added a chart as to how I would find the trend. This is a look at the last 6 weeks of 4 hour candles, which was enough data to grab the last handful of price swings to establish a trend. Daily looks the same but with less noise(easier to see the swings).
Thanks,
it sounds good to me.
