i have taken it from 1.2615…now its playing well!
ariffx …the daily candle looks to be forming a bullish engulfing bar…but shorting that could be trading right into resistance…so ill wait…
ill be more interested in it closing through the support on the h4 chart and then when it retraces and gives a signal…then i would short…less money but less risky…
anyway looks like you called it right.
it was risky my friend…but i took it anyway and closed +38 pips…i agree with you …less money but less risky…i have to be more cautious in future
Hey, to play Johny PA method do not forget that this BEEB must be confirmed so price should be on min. 1.2555 to enter… and there is no need to go to H4 if u play from daily because u to much complicate your trade.
Cheers
yes i have been crunching some figures…and now its quite clear to me that johnathon really knows what he is talking about…just wait patiently for the a1 trades…and pounce on them and make some decent cash.
if i can maybe take 1 or 2 a trades a week…and make good gains…then i may be able to start making like 10 percent per month on account…and soon be a millionaire.
forget scalping making 20 pips …making 10 pips …then losing 10 pips and losing 15 pips and coming out down 4 percent on my account at end of month.
my initial target is to come out with 10 percent ish per month profit by choosing careful trades…less trading but on highly profitable trades.
anyway well done on the 38 pips.
very good decision my friend…hope we learn PA well and make perfect trade…
Yes better wait for pullback and than PA sign.
(The best answer to your question may be another question) Q: What does your method say to do in such cases? (when support is broken) [please answer this honestly, even if only to yourself, you’ll learn something important]
It is very important qs…its self-assessing to ask such qs…i need to affirm whether this breakout is valid…and a pullback to this support and price behavior to it will be very important…if it turns into a resistance with price action symptom would be convincing enough for me to get short here…am i correct my friend?
Thanks
Yes that’s it.
- Support broken
- Wait for price to pullback and test if old support is now new resistance
- If old support is now new resistance, and bearish PA signal forms to confirm this, then one can consider going short (at the break (low) of the PA signal)
In doing so,
-> you will be trading from a place of value (selling when the price is high) and having trading space,
-> you will have the odds (confluence of S/R and PA signal) and the trend in your favour
Cheers
hey johnathon…been looking at my charts quite heavily and i have gone from finding about 30 trades i would like to take per day…to finding currently none…maybe 1 or 2 keeping a close eye on.
this is due to the higher time frame of daily and sometimes 4 hour chart.
im a bit worried because a lot of 1 hour charts would get me thinking maybe i should take this trade.
do you use the 1 hour charts much. i dont know what to do about seeing signals on the one hour charts…
you got me all worried about that stuff now…and to think it used to be my main chart.
now im getting to like the daily …even though its action is slower.
some advice from anyone will be greatly appreciated.
for instance that chart that fxpagailia has put up…on the one hour looks good for a short
but on the daily it looks very bullish with a lot of momentum…even on the four hour…
so what should i pay attention to…as i am waiting for good shorting opportunity on cable …but daily says that time is not ripe…not for a day or so…but i may miss the action…
it’s already been extensively covered in this thread and in the articles section of his website
hey pips can you please tell me…
thanks.
recently johnathon said in the previous 3 months he had taken a whopping 15 trades
my problem isnt with that…its what do you do when the 1 hour time frame is screaming selll…
but the 4 hour and daily are bullish.
but it looks like a clear sell in the 1 hour and you are afraid you may miss the move.
you must decide if you want to make multiple short trades making many of them per month, or do like johnathon and make an average of 5 trades per month ie some weeks no trading at all and other weeks maybe 2 or 3. lower time frames are too volatile for this method, this is swing trading not intraday. if you are just looking at daily and 4 hour charts (mostly daily), then you only need to be looking at your charts at 4 hour intervals including the 5pm est new york close
i am happy to take very few trades…like i said …johnathon definitley knows his stuff.
i want a plus trades though.
and my question is…if the trade looks a plus on the hourly…but not on the 4 hourly or the daily…then does it change it from being an a plus trade.
im sorry …but maybe you dont understand what im getting at…
im clearly not explaining it …in language that makes sense.
for me its clear as daylight…but that probably because i know what i mean.
anyway thanks for trying…
but to anyone else out there who may understand what i am asking …
can you please help me.
you see i read the whole thread…and johnathon seems to base most of his trades on the daily and sometimes the 4 hour…but also sometimes he makes a plus comments on the 1 hour …
so i am confused about what to do when you get conflicting messages .