I don’t think it is one. The preceding candle is not a bearish candle such that it is negating its movement. The preceding is a bullish candle. The last candle is only continuing or reinforcing its movement. Engulfing patterns deal with reversals.
Thank you. I have learnt a lot from this site.
The Guide link doesn’t work anymore…any new link? I’m looking into this
Couldn’t find John’s link anymore.
Do you have an alternative source for the 50 pages he mentioned?
The fifty pages he mentioned are on the first fifty pages of this thread. I have gone through 1000 pages and find that the only pages you need are the links on the first five pages. Just go through the guides he posted and read them then you are ready to go.
Spotted a potential short on EURJPY price is in a clear down trend on the daily time frame on its way down it seemed like it had a little correction when it to the 69.04 support level which then it smashed through only to rise back up and test this level again which got rejected with a huge move down.
Price has now come back up to test this level which looks to be holding again now as resistance.
Looking on the 4 hour time frame it does seem that price is looking to make a bounce on this one again after having 6 attempts of breaking this zone and failing.
I was going to enter on the most recent pinball but after looking a little closer I felt that this candle was borderline a pinball as the wick did not seem 3x the size of the body, will be keeping a close eye on this one as price seems to be moving up again and will be entering if I see any clear signals on this resistance level.
What are peoples thoughts on this one?
I think it is a good pin bar. But since I just saw your post price has gone below the entry point so I missed it. Thanks for bringing it up. Did nnot take it so as not to be chasing trades.
I did not enter this one I did not feel the signal was strong enough sign for me.
Hi, really appreciate your reply. However, I could not find any of the 50 pages. Mind to enlighten me?
Forget about the fifty pages. Concentrate on reading and understanding the guides - the links posted in the first five pages. That is enough for you to understand and start using the strategy. Speaking from experience because I have read the first 1000 pages.
Very interesting post
As a newbie, was interested to learn about trading and come across this thread. I tried clicking those first couple of link but seems they either have been archived or seems need permission to access those private link. Am i missing anything?
Ok, I just saw the question was already asked. Sorry, can’t handle this forum on my smartphone…
I have to say sorry for this question, but you mention that I have to read the first 50 pages.
What 50 Pages? Is there a pdf that I cannot see?
And much of the links you provided doesn’t work. Is it only me, or are the links down?
Thanks in advance and sorry again
good system, the more i learn, the more i doubt to enter the market, i’m not sure if i read the pattern correctly or subjectively, i always record all my guesses and almost always get it right, but still doubts always arise when going to enter, is there any wrong…?
What is the best timeframe for price action trading, and is it good for scalping?
The best free gift in trading is a demo account. Run it completely realistically, as if you were trading with real money that you worked hard for and which would be hard work to replace.
Use a single strategy until you see it in your sleep and log the outcomes. Include the trades you didn’t take, where your strategy said enter but you second-guessed it and stayed out.
First time doing anything risky is scarey, but that’s because you don’t know if you’ll succeed. Once you know you’ll succeed, all you need to worry about is human error - like pressing Buy when you meant to press Sell, etc.
Is this topic still active?
Web: his forexschoolonline.com (J.Fox) doesn’t seem to use PA anymore, I see ideas items all using the indicator
This is one of the better threads I have read through. Well the first 3000 pages lol. I took what I learned here and started applying it and after backtesting changed how I traded. I do have two strategies I use now. But the naked chart taught here on higher time frames are great for newbies or anyone really.
I believe he has shut down any new enrollments and such. Just read through the beginning of the thread to maybe around 2000 and you’ll have a great idea of how to trade with a naked chart, well except for S/R lines. And very easy and simple method as well. He only uses a couple candlestick patterns as well to confirm it’s a good setup.