How to recognize Price breakouts in Support and Resistance Levels

[umd]

Hi Intercept, Thanks for that udemy link.
I am new to Price Action. Is there any post on babypips where traders post their setups and talk about pure price action (nothing else)?
There are some paid websites where members share live setups, but it would be good if there is a free one on babypips

[Dennis3450]

This is Nial Fuller’s site, he turned me on to price action trading, most of his site is free, lots of good stuff that will get you moving in the right direction

Learn To Trade The Market » Professional Trading Education

[Dennis3450]

I was already short the dollar against AUD and CAD so I did not jump into it, with price pulling back another entry might present it’s self. A retest and rejection of the breakout point can make for a very strong entry signal, with that I am watching for a retest of 111.00 , that would be hard to pass on. Another area to watch is 110.00 , the 200 ma on the one hour chart is sitting just below this level. This would also be a full retracement of last Thursday’s big red candle. That gives us multiple levels of resistance at 110.00

USD is currently weakest of all the majors so it’s just a question of picking your spot and not letting the pullbacks chance you out of your positions

Big up candle in USDJPY today giving a complete retracement back to the breakout point of 111.00 , best trades tend to be the scariest to take, this one will take a lot of nerve to short after such an up move, I wait till end of day to see if price closes below 111.00 resistance line, if not then we are likely to see a opening gap higher when trading resumes Sunday, that could be a good place to short, a more conservative entry would be to wait for price to break back below 111.00 , if it never happens then you don’t get in the trade

[Dennis3450]

I was already short the dollar against AUD and CAD so I did not jump into it, with price pulling back another entry might present it’s self. A retest and rejection of the breakout point can make for a very strong entry signal, with that I am watching for a retest of 111.00 , that would be hard to pass on. Another area to watch is 110.00 , the 200 ma on the one hour chart is sitting just below this level. This would also be a full retracement of last Thursday’s big red candle. That gives us multiple levels of resistance at 110.00

USD is currently weakest of all the majors so it’s just a question of picking your spot and not letting the pullbacks chance you out of your positions

This took longer than I expected but finally got the pull back to 111.00 , short entry on price breaking back below 111.00 and locked 245 pips of profit. I will take it. This shows good things happen to those with patients and persistence