Here is what I think, pls correct me okie:
pros:
BEEB form at swing high at good resistance level
EB engulf the entire previous candle
cons:
Price did not close in the last third of the candle in the direction of the trade
Hence did not meet the criteria of a good BEEB setup.
Hey ywboo3
There is so much wrong with this trade for me personally.
The PA was small in comparison to candles leading up to BEEB.
Shorting straight into trouble area and BEEB.
Like Johno always says, Im not saying it wont go down but just not for me
Cheers
Oh yeah, forgot to add in my check list to check the relative sign of the PA compared to the surrounding candles. Thanks for the reminder!
I agree with you on the size of the PA, Spongybob. Thatâs the first criteria on my checklist, so I would have just stopped analyzing it based on how small it is in comparison to the preceding bars.
Nick
Hello,
just to clarify, it did close within the last 1/3 of the desired direction right?
Yes I agree with you all. As we know sometimes crappy setups come of. They donât come of because it was the crappy setup they made it work but the market was going there if that makes sense. Anyway anything can happen but we all know that if we stick to only the good ones we will win more than lose right?
I tell you what I am not keen on the 4hr NZDUSD at the moment? Chop, chop and more chop. This could do anything right now.
Johnathon
Hi Johnathon
Sorry itâs my overlook, the BEEB in NZDUSD H4 did close within the last 1/3 of the desired direction.
a few questions:
1)what does KHL and IFT mean?
2)is the colour of the pin bar absolutely critical?
This looks like a good BEEB setup on the EUR/NZD 4 hour chart.
The daily is showing this in a range and price is at the top of the range. Thoughts?
i am also watching this pair. i donât want to go open my charts until after the candle change at 5pm(trying a new disciplined approach, only checking at 4 hour intervals) but i remember seeing this on the 4H and a pin bar on the daily, both at the top of the range
btw the pin bar was the wrong colour, hence my earlier post. it shouldnât matter should it?
also, thanks for sharing your trading plan tyrannosaurusforex, very helpful!
edit: my 5pm analysis is that, on further review the pair is ranging but in a gradual uptrend since january. instead of bouncing downward from the top of the range as i expected it might be trying to move higher now. hopefully that is, as there is less left lane traffic if it goes up. this s/r level is also a brn at 1.6200
i wish i would have been looking at my charts yesterday as i might have caught this short trade on audsgd daily
iâm thinking now that since the average number of viable a+ trades that are possible in one week is 1 to 2, it would help if i keep track of the ones that i miss so i can start to get a feel of the frequency of these setups
hey all
iâm looking at audnzd daily
now a little more focused
we are in down trend from november 2011,
today the price make a beeb,
that could signify the end of the last 15 days retracement,
we could short if price breaks the low of the beeb, takin the stop at the last high (pin bar 2 days ago),
1st TP at the last low 1.2530 with a 1:1 R:R,
2nd TP at the low of september 2011 at 1.2390 with a 1:2 R:R
what do you think?
Hi T-Forex!
Thanks for the spot and for sharing.
My thoughts:
Now my concerns (thinking aloud):
=> Johnathon once said that ââŚwhen we enter a trade we can only expect price to reach the next support or resistance area. From there it is anyoneâs guessâŚâ
=> If we enter at the break of the BEEBâs low, we can only expect it to get to point A. I wish it hadnât been so big, would have given us more trading room (!) That said, it could easily get to point B after crossing A.
The checklist ticks are all there, only my gut feels I could pass this up for a trade with more roomâŚ
If you do enter, all the best and good success! 
I think your gut may be telling you the right thing on this one Dudest. Who knows what will happen but the way this BEEB shaped up didnât leave me with the âwiggle roomâ I would like.
Hi dnagolf!
My concern with this BEEB is I donât think it has formed at swing high.
True, the trend before the retrace is downward, and price could still go lower.
But personally Iâll pass because of that swing high issue
Cheers
Heads up!
The JPY pairs are busy forming bearish reversal signals on H4 following pullbacks.
Candles due to close in about an hour.
Cheers
Dudest I think you are all over this swing high/swing low business. Good call!
If things continue as they are I will be trading the EUR/JPY 4 hour, still a way to go to close but looking promising.
Hi guys
Thanks to dudest for the heads up, this is my thought for your comments. From the Jpy pairs, I find the pin bar in H4 for USDJPY best.
Pro
Hi bhops
Can u elaborate why? Thought I am seeing a strong resistance just below it at 105.4 for EURJPY.
Hello,
whilst I agree with you and this setup I just want to clarify something about big round numbers or BRNâs.
I donât think for this trade example you can note it as a plus because it is trading at 80.25 at the moment and when breaking the pin will be trading directly into Very BRN of 80.000.
What does look good about this setup is the way it broke out and has retested the old resistance which the market is now looking to hold as new support.
Johnathon
