I was also afraid of keeping my positions open over the weekend, but as you already said, there is nothing wrong with keeping them. If you had a nice and clear signal, just enter the trade, put your S/L as you always do and that’s it. People can miss some great opportunities if they exit the trade on friday!
I agree that GBPJPY is currently in a range, and that the IBs following the big bearish bar may be signalling an explosive move (downward?) soon.
I wouldn’t mind long PA at the bottom of the range (esp a pinbar), since I think there’s space before the minor mid-range zones kick in.
Cheers!
.
Hallo sivric,
Sorry, but black charts do not show up clearly when posted. Can not see your levels/bars.
Cheers
I will post again! Thanks!
You’re welcome.
After reading the links, please read first 50 pages to get a complete picture.
The lowdown is:
-
You need to BUY when price is LOW and SELL when price is HIGH
aka BUY LOW, SELL HIGH
aka BUY at SWING LOW, SELL at SWING HIGH. -
The PA needs to form at the said SWING LOW ( for bullish PA ) and SWING HIGH ( for bearish PA )
-
A setup is confirmed when price breaks it ( breaks the high for bullish PA and breaks the low for bearish PA ).
Hence the use of PENDING ORDERS so that price can enter you when it’s breaking the high/low of the PA
.
I have seen a nice hammer on a NZDCHF daily chart, so I entered the trade:
A bullish engulfing bar was also formed on a H4 chart:
Is this a good trade? Should I keep it or close the trade (the engulfing bar reached a small resistance level)? What do you think about my support/resistance lines on a daily chart (red lines)?
Yes indeed that was a super cool example about how the high probability counter trend setup looks like)
- Strong market level on a higher and reliable time frame like daily
*A strong reversal signal for reversing the price
EURJPY to me is looking ugly choppy in the D1 [ though the direction is obviously up ]
Those IBs are rising to form an ascending wedge, which I agree may be a sign of a coming breakout to the upside in the coming day(s)
If that happens, I will wait for a pullback ( most probably on the H4 ) to go long
Cheers
.
Can you please analyze my charts? Thanks in advance!
Hallo again,
Was coming to it, just needed to load up NZDCHF on another platform ( RoboForex MT5 )
IMHO,
-
The D1 pin is tiny and does not fit the rules of a tradeable pin
—> Pin Bar -
The H4 bar on your chart does not fully engulf its previous bar, hence is not a BUEB
—> Bullish and Bearish Engulfing Bars Introduction -
You have mixed timeframes ( seen a setup on D1 and gotten confirmation that H4 is doing the same ), we don’t do that.
-
Lastly, the D1 trade is trading straight into overhead resistance
Doesn’t mean it won’t work out ( STICK TO YOUR PRE-TRADE PLAN! ) but not A+.
Cheers
.
Hi Darth
I must be starting to learn as I found the BEEB forming on the wkly as well. But what does khl mean and is VBRN very big round number?
Thanks in advance
kiwiman
Hi Kiwiman;
Yes VBRN means very big round number and KHL means Key Horizontal Line. Take care.
morning all, check out this BEEB on the 4 hour euraud. right bang at BRN 1.4500
Currently not in this trade as i missed it. but set a retrospective trade if price does spike up.
dARTH
- You think a wick should be at least 3 times the length of the candle body?
- Why do you think a H4 bar does not fully engulf its previous bar? It’s larger than the previous candle.
- Why do you think it’s bad to use multiple time frames?
Hi Guys,
I entered this trade on Wednesday.
I was happy with the trade and my levels and had my 1st TP at 0.9527.
Having watched the price yo-yo several times from my entry to 30/40 ticks on side, i thought it best to take small profit on
Friday afternoon and have a fresh look on monday.
I am a long time trader, (but relatively new to PA) and i find it hard to forget the old adage "never let a profit turn into a loss"
I also day trade futures, so am in front of my screens a lot.
I think i need to allow these longer term positions more space, as i can think of 4 previous trades that i took small profits on
that continued for 100+ pips or more and i would never have been in danger of being stopped.
Thanks for your comments.
–> Yes, wick should be at least x3 the candle body
–> Also pin should stick out away from all other candles ( making it obvious ), not hidden away inside other candles
- Why do you think a H4 bar does not fully engulf its previous bar? It’s larger than the previous candle.
–> ‘Big’ != ‘Engulfing bar’
–> Engulf = fully covering the previous bar, body, wicks and all.
- Why do you think it’s bad to use multiple time frames?
–> Adds confusion (complicates a simple process)
–> Makes you see what you want to see, not what is really happening.
–> NOTE: this is in reference to switching TF’s once you have spotted a setup on one. Stick to the TF you have spotted the setup, don’t use the others for ‘confluence’, trade management, etc.
.
this market is in downtrend after sharp fall,better look for sell signal ,it is not a good to go long at this time.
Hi Alex and gang.
On the pitch of recommending webinars just this morning I caught up on this report from John Kicklighter [fab. surname] on FXCM. I have had this email returned to me as I included the site details, so if you go on FXCM or indeed ‘you tube’ and enter John Kicklighter you should get it? I’d like to run it by you guys for the following three reasons.
One, I think it’s new or at least I haven’t happened to catch it before. Two, I found it very comprehensive - right on the money, and Three, it’s released early, i.e. well prior to the events it reports on.
I know we need to keep our exposure to news simple and brief but this analysis on the daily not only makes you aware of strategy but because you can listen to it over again its value sort-of sinks in!
I still pretty new to the trading world so I found it made a lot of sense.
Will be interesting to get your feedback on this.
JOH.
Hey Tomyates and Sergie are you still around or did you joined FSO? Just remembered you guys and thought your comments are really helpful and all. Hope to hear more from you guys!! If you guys joined FSO, pls tell me your names so i could add you!
Jack
Hi,
While at first sight it might look lucrative. There are a few issues that need to be addressed.
Like what guarantee is there that this source will be eternal not to question accuracy. Moreover how many factors does one trader
want to squeeze in their analysis?! Where does it stop?
What we strive to do here is to keep our core analysis objective. Let me elaborate;
We utilize a few well outlined factors in our analysis never to be broken never to be bent,and keep those the core of our business.
That’s the objective of our trading and will see our accounts rise and shine.
The hardest part is to wait for Setups to emerge and not blind ourselfs with half decent Setups that strain nerves and
shrink accounts.
I hope I made sense.
Cheers