Forex Price Action

[Kasravi]

Scary thing, I had a dream of the usd/cad moving up to the 1.0500 level.
You may think nothing special it’s just a 30-40 pips retrace, However I found it creepy.

Cheers

[dudest]

Hey Jack!

You still in NZDUSD short?

.

[dudest]

That’s how it should be, well done mate.
Got filled on the USD/cad short yet?
Or anyone else?

Yes,

USDCAD: D1 false-break pinbar at BRN 1.0500 got filled

GBPCAD: D1 false-break pinbar at yearly highs got filled as well.

Cheers

[dudest]

Scary thing, I had a dream of the usd/cad moving up to the 1.0500 level.
You may think nothing special it’s just a 30-40 pips retrace, However I found it creepy.

Cheers

LOL, for real?!

Wow, talk about PA working into your subconscious

What did you do in the dream? Hope not panic; it’s gotta test whether the BRN can act as resistance ( and give people re-entry opps on lower timeframes ).

Here’s to BRN holding its ground!

[ Worst case scenario: ♫ Our stops are in so there’s nothing to do! ♫ (Ed Seykota) ]

Cheers

[dudest]

@heelflip43

Hi, I’m new to the thread but been following other PA methods on here. My 2 cent on EURJPY at the moment:


It seems to be making a pin bar a resistance level(129.8). The candle hasn’t closed yet but will soon and looks to be respecting the resistance. If I were doing this trade I would have my SL at 129.50 and TP1 130.60 T2 at 131 with moving to BE at 130.30, but I won’t be taking this trade because of where it is. I’m going to wait till 131 turns support as overall I have a bearish bias on JPY

Hey heelflip,

For me, I’ve seen this scene before ( almost like a dream like Kasravi’s! ) ==> on the H4, price makes strong moves ( like the JPYs yesterday ), and then price pauses, and a reversal pin is formed ( that sucks us in! ), only for price to continue STRONGLY in the direction it had started…

Have burnt my fingers a couple of times like this ( JPYs, XAUUSD esp ), so I’m wary of it. Price has to move, then pause, then move, then pause ( pause/retrace = profit-taking or consolidation/accumulation of new positions )

Some genuine reversals might occur in such scenarios, but if I was a betting man, I’d always bet on the earlier move continuing…

All the best!

Cheers
.

[PIPOFF]

it’s 100% agains a big trend , It’s better looking for a pullback to get long . this is my idea.

Good luck

Thanks ABC,

YEAH,

GOING TO GET IN WITH THE TREND ON A PULLBACK, GOOD LUCK TO YOU TOO.:41:

[forbiden]

Here we go GbpCad
Now I have two close breakeven positions and don’t worry about them anymore.ChfJpy and GbpCad.Let’s see what’s going on and are they drop down more

[jackson905]

Hey Jack!

You still in NZDUSD short?

.

Nah, got Stopped with the wick after i moved my SL down to around 0.7850 area was trying to protect my profits…

still ~3% Positive gain though

Thanks for asking!

Jack

[jackson905]

Here we go GbpCad

I see its going ur way

[dudest]

Nah, got Stopped with the wick after i moved my SL down to around 0.7850 area was trying to protect my profits…

still ~3% Positive gain though

Thanks for asking!

Jack

Still super goodstuff!, nice trading

It’s a sure fine line ( protecting capital -vs- riding the move ).

Hey, take a look at this: FOREX Statistical Research Center/Placing Better Stops

That, together with going through alot of past setups (to see how they played out, and how they could have been trailed better), lit alot of light-bulbs, esp on how to place stops when the targets are further away.

Cheers

[bambino358]

Hi,
here is how i manage trade on CHFJPY 1D.
1/2 position … close on TP1
1/2 position … SL move to BE … looking for TP2
cheers
bambi

[jackson905]

Still super goodstuff!, nice trading

It’s a sure fine line ( protecting capital -vs- riding the move ).

Hey, take a look at this: FOREX Statistical Research Center/Placing Better Stops

That, together with going through alot of past setups (to see how they played out, and how they could have been trailed better), lit alot of light-bulbs, esp on how to place stops when the targets are further away.

Cheers

Thanks man:) definitely gonna take a look!

[Kasravi]

LOL, for real?!

Wow, talk about PA working into your subconscious

What did you do in the dream? Hope not panic; it’s gotta test whether the BRN can act as resistance ( and give people re-entry opps on lower timeframes ).

Here’s to BRN holding its ground!

[ Worst case scenario: ♫ Our stops are in so there’s nothing to do! ♫ (Ed Seykota) ]

Cheers

I know was crazy.
That’s rught

[Kasravi]

LOL, for real?!

Wow, talk about PA working into your subconscious

What did you do in the dream? Hope not panic; it’s gotta test whether the BRN can act as resistance ( and give people re-entry opps on lower timeframes ).

Here’s to BRN holding its ground!

[ Worst case scenario: ♫ Our stops are in so there’s nothing to do! ♫ (Ed Seykota) ]

Cheers

I know was crazy.
That’s right worst case scenario stops are in place.
Good article, however don’t we always place our stops above/below recent prices?

Cheers

[forbiden]

Hi,
here is how i manage trade on CHFJPY 1D.
1/2 position … close on TP1
1/2 position … SL move to BE … looking for TP2
cheers
bambi

Absolutely same here GJ

[dudest]

I know was crazy.
That’s right worst case scenario stops are in place.
[B]Good article, however don’t we always place our stops above/below recent prices?[/B]

Cheers

Hey Kasravi!

When the trade is starting out, yes. [ Johno’s method and the concept Scott is putting out are in agreement ]

Of course when price takes off in our direction (esp more than we expected), it’s anyone’s guess where to place stops; there’s no hard and fast rule.

But I believe the concept of placing BUFFERED stops (away from reach unless you’re definitely on the wrong side) still applies. ( which is what, for e.g, placing stop above bearish pinbar does )

.

[Kasravi]

Hey Kasravi!

When the trade is starting out, yes. [ Johno’s method and the concept Scott is putting out are in agreement ]

Of course when price takes off in our direction (esp more than we expected), it’s anyone’s guess where to place stops; there’s no hard and fast rule.

But I believe the concept of placing BUFFERED stops (away from reach unless you’re definitely on the wrong side) still applies. ( which is what, for e.g, placing stop above bearish pinbar does )

.

Indeed, I believe that optimal trade management is key.

[sjk]

Audcad 4h shows beeb am i right ?

[forbiden]

It look so it’s going to form very nice PB on support level at GbpCad 4H… Some opinions about this?

[Kasravi]

eur/aud 6h . rejecting top of the daily range

cheers