Forex Price Action

[cyberbob222]

Hi,

Yes, as per Johnathons teachings you want to join the trend after retrace.
AudUsd hasnt produced a valid signal yet to go short, so stay put. Check the beginning of the thread in search for candlestick formations desired to appear in order to enter: pin bars, 2bar, insidebar…

My personal suggestion is:
Treat it like a science: no signal, no entry. If you will be entering without a proper candle talking to you, it becoms a gamble.

Hope i helped.

Hi guys,

Could you help me identify the direction here? We all know the overall direction of this pair is bullish

But are we following the downmove here? So are we looking for a short here or long (based on the overall trend above)? This is what I still don’t get.

Also a BUEB has formed. But an S/R line is needed to go with it, is there an S/R line in this area? Could anyone help me spot it? Thx.

[dudest]

@Sicnarf

Hi guys,

Could you help me identify the direction here? We all know the overall direction of this pair is bullish

But are we following the downmove here? So are we looking for a short here or long (based on the overall trend above)? This is what I still don’t get.

Also a BUEB has formed. But an S/R line is needed to go with it, is there an S/R line in this area? Could anyone help me spot it? Thx.

Hi Sicnarf!

My take on AUDUSD H4 (based on how I’m understanding recent price movement):

PS: if the resistance is broken on H4, will wait for pullback on H4 to support and look for longs OR look at daily to see what forms there (in the form of longs)

[cyberbob222]

Guys,

I feel this could be A+ however, the daily candle hasnt closed yet, i entered the trade.

pros:

• within the trend
• bearish engulfing in place
• from swing high on its way to low

[wafikjabra]

Hi wafikjabra,
AUDJPY daily S/R level should be @79.50 where it has resistance turned support and I think it should be an A+ setup. The 4hrly has BUEB, the entry point is @80.10 which I’ve missed. Thus I would rather wait for daily candle to form a BUEB and trade the daily TF.
Regards,
Toyogo

Hi Toyogo,

Thank you so much for important valuable comments which certainly adds to my little confidence. I am already in this trade @80.12 & intend to take it to 81.86 with careful watch on r/s level of 80.63, Thanks once again

[wafikjabra]

Can this trade on EURAUD 4H be considered??? Your comments will really help, Thanks

[dudest]

Hi Dudest,

How would you buy above BRN 1.5400 based on BUEB without s/r levels at bottom of this BUEB & against the trend as well. Thanks

Hi Wafik

It’s a calculated risk.

From my Pepperstone charts, EURNZD has never been this low before (checked weekly/monthly).
The two things in my mind w.r.t this are:

1. Price likes to retrace/pull-back to prior S/R zones before continuing with a trend
2. The BUEB was really big

Counter-trend trades are risky, but can be worthwhile, IMO (make money on the way up and on the way down)

Cheers!

[wafikjabra]

Hi Dudest,

I truely see all your points, the BUEB was really big but still is a risky counter- trend trade. Thanks for your clarification which certainly helps me.

Good luck

[dudest]

@cyberbob222

Guys,

I feel this could be A+ however, the daily candle hasnt closed yet, i entered the trade.

pros:

• within the trend
• bearish engulfing in place
• from swing high on its way to low

But the daily candle hasn’t yet closed bro what if it turns against you when NY opens?

[dudest]

@wafikjabra

Can this trade on EURAUD 4H be considered??? Your comments will really help, Thanks

What trade? Price is not yet at your S/R zone (assuming that’s what the red line is)…

[wafikjabra]

Yes Dudest, the red line is what I have considered as S/R level, was I wrong again!!! perhapes I was forcing a trade that isn’t there !! ATTACH=CONFIG]29616[/ATTACH]

[Mercurio]

I’m looking at the EurAud too wafikjabra, and it looks to me like it is getting ready to go further down.

This pair is nearly at all time lows, so there is not alot of previous S/R to go on, but the price is sitting around the previous swing high, and on my charts has a big (for this pair) pin bar sitting across that S/R level. (at 1.18144)

I’m expecting a final swing up before making a move down, and I won’t be entering a trade till it breaks lower than the recent ranging (at 1.17900)

Bear in mind I am no expert, and certainly don’t make your decision to trade or not trade on what I say, but thought i would add my 2 cents to the discussion

Merc

[FaRS]

@dudest

Heads up: USDZAR H4 bearish pin-gulfing bar @ swing high:

Hei dudest!

Did u end up taking the trade? IMO, it was trading straight in to the support level.

Richard

[wafikjabra]

Hi Mercurio,

Thanks for your comments, It is always nice to share our thoughts… it certainly adds to my education. We will follow this pair & see what happens.

Cheers

[nctrades]

EUR/USD 1h TF

Very nice pin bar

Uploaded with ImageShack.us

[FaRS]

@nctrades

EUR/USD 1h TF

Very nice pin bar

Uploaded with ImageShack.us

Not for me, PB is too small compairing to previous bullish bars and if I traided H1 TF, I would like to see much, much bigger PA signal.

Safe trading,
Richard

[DDJJ]

Hi Everyone!

Look at this Gold daily chart & bullish PB.

I hope you would not have missed it.

[wafikjabra]

Can this be a 2 bar reversal signal to go down? any comments?

[FTC]

Hi Wafik,

More or less it looks like BEEB. I would be careful about the break and the choppiness behind. Please see the image attached. Are you using NY close charts as the candles are different on mine. You will see the red line are might act as support and price may halt there. Just my 2 cents…

[Sicnarf]

Anyone losing money this week?

[Pips_Ahoy]

wish i stayed up last night to catch this one (1am new york time). hindsight is 20/20 though