Hello!
Lets wait and see what turns outā¦
CAD/JPY D1
Richard
I see your point, but from 3 June, price has been heading up. Iāll personally be looking for price to head north of this level, then re-test with bullish price action to enter. I know we dont really look at fundamentals, but the CAD looks a stronger bet in the long term.
Happy for critique here!
Andy
Hei there!
Thanks for your opinion Andy.
For me itās kinda ranging and the overall trend is bearish if u zoom out a bit more, so letās see, what happens! 
Richard
Hi hbres,
What I had found to be one of the most confusing things to understand, on the beginning, (and hopefully it will make things clearer to some other starters) was a thought āitās easy for them to say now: you should have taken this bearish pinbar from the swing highā when they have all the future price action (after the PB) in front of them, itās easy to identify swing high. Like on Jonathonās 1st chart.
I knew it as well and it was dead simple when analysing past price behaviour from few months earlier (backtesting on any pair) it was pretty obvious when seeing all that action which has happened after any PB had occurred that it was that swing point or retracement I should be acting at.
But it looks different (from a newbie point of view) if there is nothing after the PB:
Ho do they know where price will go?
The point is - they donāt. What they do is they try to identify price levels where the price hit some resistance / support in the past (image below) and they wait for the same thing to happen now - to give you a signal of struggle at this particular level AND if it happens that the price shows you a PA signal (PB, EB, 2BR) at this level, the odds of correctly estimating price behaviour greatly increases; and they are simply using this to their advantage.
The moment it clicked for me was when I started drawing S/R lines on my daily charts from month/two months ago (backtest) AND scrolling the chart by one day (one candle) to see how price behaves around my S/R zones giving me from time to time a PA signal to enter the market.
I was simply assuming that the level the price had struggled once, will act in the same way now and might become a swing point (to buy from low or sell from high) with hopefully a PA signal that I understand and know how to act on. I hope I donāt have to stress how important is having those levels pre-marked and waiting for price to get to them, not the other way round, or playing with the trend (at least for newbies like me).
Iām still new to PA trading, learning all the time, currently on BE after trading for last 4 weeks on demoā¦
Now, it might not be your issue, but the situation reminded me my own beginnings and I thought somebody else could find it helpful. Donāt treat it personal.
Hi Toyo, this could help: http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action-105.html#post343285
Fil.
2 Likes
In a way, I agree, zooming out on the weekly we have hit a HUGE support level from back in Oct 2010. I have talked myself out of so many trades by zooming out itās not funny any more (but has stopped me losing money, albeit demo atm). Iām left nursing a 1/4 of a USD/CAD short trade from a few weeks ago that will stop me out at a profit for that remaining 1/4, or continue to run. (Iām not yet a member of FSO, so donāt know the recommendations are.)
However, and it is a big however, Iām inclined to believe that we need to be trading a āshorterā trend, I say in quotes because I donāt really know. If our projection to stay in a trade is say 10 periods (for me days) then why would we look for more than 20 periods previous?
Richard, I really am just learning this (my true learning after 2 years of chasing wacky indicators) so bear with me please.
Cheers
Andy
Iām learning as well. Was dealing and wasting my time on those crap indicators as well before I found this thread, so I understand u.
Safe trading,
Richard
Hei!
Was looking at it as well, but here is the thing I donāt like:
AUD/NZD D1
-> it has formed in no-mans land.
Here I zoomed in and the red marked area is where I would like to see a valid PA signal.
AUD/NZD D1
P.S. Correct me if Iām wrong about the levels.
Hope this helps,
Richard
Well spotted fars, this has been the subject of a bit of debate in the forum, you have the same levels marked as me and I do agree with you it seems to have formed in no mans land for me as I canāt see any obvious support the bueb is rejecting, and also the levels we have marked seem the most obvious sr areas above and below price which I will be looking to trade from.
Thanks Steve
Edit : These are just my views I would like to add, I could be wrong!
hi Fars,
thatās what iām concerned also. but if you zoom out, you could actually see levels that follow it as a S&R in the past.
the thing is, i might just be trying to convince myself that this is an A+ setup.
but the BUEB isso tempting as it formed at a swing low and i think iām gonna set a pending order on this trade.
letās see how itās gonna play out. woot woot
Iām not saying it wonāt work out, itās just the level u have drawn isnāt convincing enough for me to take the trade there.
But good luck to you! 
Richard
Nice to see someone with the same view here! 
Hey for those of you who are bored - AUDJPY 30 min to go longā¦
Hi Sydnebelinda, what tf are you looking at? I canāt see any long pa on any time frame,
Thanks
Are we talking?
Hi Sicnarf,
Iāve done the calculation of the average pips of the top 10 largest bars over the last 50 bars is 62pips. The BUEB bar is 31 pips which is only 50% of the average top 10 bars. Thus it may be too small!
Regards,
Toyogo
With Oanda this set-up is more like a 2BR. I have taken the trade on demo, because more or less it has formed at a swing low.
Weāll see how it goes.
Woah! Alrighty, thanks! BTW, how do you compute it?
I have taken this trade. I like the break through resistance pull back to support.
Cheers
Working out very nicelyā¦