Hi Tranceaty
I was going to trade resistance. but SL got triggered.
Off topic. Iam trying to modify PA under my busy schedule. Doing a lot of demo trading. So far not bad. Learning a lot of stuff downhere.
Safe and smart trading
And this forum is still up and running. Jesus. I haven’t been here like -I don’t know- two years?
Kas, long time no see, brother. Yup, back then it was quite a discussion we have, with Johno, bhops, dudest, and many others. I used to be very active, but then I got a job at Wall Street, and so I rarely logged in here.
Maybe I won’t be as active as the old time, but I’ll be hanging around once I have spare time. Keep those pips comin’, mate!
Cheers,
Will
Wall Street!? What kind of a job did you manage to get there? Is it something similar to Forex trading?
Is it [I]because[/I] of your experience Forex trading?
I was a physics lecturer, and later hired as a quant. My job mostly revolves around technical analysis, fixed income, and banking analysis.
Willy! Ow my!
I thought I never see you again since you got that finance job. So happy for you and looking forward to see your name poping up on the posts more often.
Best
Kas
So happy to see more experts back. Looking forward to learning from you guys. =)
Hi guys, I really like this thread. Cleared up a lot about PA-techniques and added some nuances. Now I have some questions about borderline-setups. And how to read certain PA stories.
What about a setup like this? It is a BEEB at an important S/R zone swing high.
Contra: It is a ranging market and there are a lot of resistances on the way down.
On the other hand, if this is enough to disqualify the trade, then it will be hard to take any trades in a ranging market like this, I think. What do you guys think?
I can not find the other chart anymore, but my second question was regarding two pin bars pretty much next to each other. Both of them would have been valid triggers for taking the trade. So thinking about taking the second one: does anything change about the setup, seeing that the - in this case bullish - steam was rejected just before once?
For a ranging market, I guess you just have to manage your trade accordingly, meaning your TP1 may be set at the first support that you feel may hinder your trade. Or set your SL to BE when you hit your TP1. I personally prefer to trade with the trend as I’m still a novice at this.
For the 2 pin bars side by side, I thought of the recent post by Johno in his blog. Maybe thats what you refer to.
USDCAD Daily Pin Bar Setup That You Want To Pass on
And you can look at the chart of USDCAD now, there were 2 PB on 17-18 sep. Personally I won’t take that trade, as I feel that there isn’t enough space for me to trade.
Ha, that was exactly the setup I was thinking about. Thank you! I share Jonathans analysis, that the first pin bar does not classify as a high probability setup. I am more interested in your opinions about this exact scenario with a second (and arguably better - if ever so slightly) pin bar forming right after it.
I find some logic in my thinking, that the first pin bar might be mainly profit-taking and is not at a good position; but when a second one forms, it seems to me, that all bearish momentum is sucked out and a bullish move becomes more likely. If you guys see it similarly and if this is enough to make the setup tradeable interests me a great bit.
In that case, I may just view it like a 2-day PB, and if you do, try looking at the 2-day chart and see if there is space to trade.
Personally I’m not too sure if i should take the 2nd PB in USDCAD example because I’m not sure if it can break through the resistance and continue its bull run.
I have attached the chart for reference.
Thanks Kas. It’s good to see you again here. I am barely active, but I could see some people are still doing their best to help around.
Hopefully we could maintain this thread as ‘Forex Price Action’, and not ‘show me proof, and even if you do, you’re still bs’ thread. Too many good people had left this thread in the past, and that’s kinda unfortunate. 
There’s some good people on here Just be carful who you listen to ,some profess to be gurus but in reality know nothing ,Beware.
No worries, i’m always discerning of the various opinions given by people in forum. Every traders interpret things differently, so I won’t say they are right or wrong.
I would highly appreciate it if someone can give me please some technical explanations regarding the failure of this marked BEEB of daily S&R level.
Thank you
[ATTACH=CONFIG]79570
There are many ways to look at, shakeout, test, longs covering to go short etc… Trade channel. I look at it as a test of resistance then a spring or shakeout before the last move up past resistance. Or a breakout. Some may call it a classic Wyckoff accumulation phase. with a jump over the creek. Since it is a 4hr time frame it has taken some time before it got to the pin bar. I believe your entry points are arbitrary to the trades. If your going Wyckoff you might wait for the break of resistance before an entry. Got a steep advance with strong bars looks like good supply. But don’t take my advice I don’t want to influence a bad move, just my observation from my experience. Others will probably see it different.
Why you say it failed? I see the price went down for a distance equal to the candle’s size, so it didn’t fail.
Or am I missing something?
Guys, I’m new and trying to learn to spot the S/R levels and candle signals. Please tell me if, on EU (D1) below, I did it right. Resistance line is the dashed line and there is a bearish engulfing white candle there?!
Thanks.
PS try to ignore the rubbish on my chart 
Thank you Pingback for your kind observations, highly appreciated
Guys, I don’t trust (yet) my own S/R lines. What do you think of the ones from dailyfx? Are they correct? Link at Forex Technical Analysis Data & Analysis