That level is a support level. Not major but enough for such a stong trend. Notice the way price rejects and moves lower before gaining momentum and moving through. With such a strong trend would not then surpise for price to move back down and reject again only this time acting as support.
EURGBP DAILY CHART
Johnathon
Hallo EJ,
IMO, the area was great, but the pin was small ( unconvincing )
Larger than normal upper wick also showed some bearish rejection
In other news: are you still in the trade? how are u managing it?
Cheers!
Hallo tyler,
IMHO, a better play here would be to wait for the retrace, and look for LONG PA (esp on lower timeframes) at the level you’ve marked.
Watching this area like HawkEye too!
Share your thoughts/concerns please, interested in knowing what you think about it…
Hi dudest,
I just get out from the trade with +100pips
although it maybe just B+ setup, but still profitable.
Look forward to trade A+ setup
EJ
We don’t…
I thought it had to show s/r also…
It does.
==
On your EURGBP chart. mark 0.8400 on D1 and zoom out…
This is just one of those (neat) cases where S/R and RN together form a key zone.
My hope is that price will find resistance here (0.8400) and retrace to earlier marked support (same as Johnathon’s) and produce long PA to enable us get into the uptrend.
Cheers
Forgot to do this on the 6th of Jan this year :)!
Happy (belated) 1st birthday to the thread! <cheers> <whistles>
Thank you Johnathon for adding value to our lives.
Cheers!
Hey guys, I have one simple question.What are you doing during the summer when the price is typical with his lower volume? Do you trade ?
Yes, but it does get quieter. Only difference is less trades due to less volatility. just need more discipline.
In saying that I do plan this year on taking a break/holiday for anywhere from 3-6 weeks through the mid July - mid Aug period. Best time of year to do it. In Australia our summer is now and the major breaks for work/school year is Dec - Jan where as the UK (and guessing US as well??) have their major breaks during the mid year through their summer.
The market is a lot more lively through Dec - Jan which would be my normal holiday and so I will switch and take July instead of Dec.
Johnathon
Hi, what you say for GBP/CAD daily? On the 4H chart we see nice pullback to support line, so may we wait to close the daily candle and tonight put the buy stop upper that candle? What you think?
As always perfect answer. Thanks Johnathon 
Got this from a friend:
Dear Client,
Based upon the results of our Customer Satisfaction Survey, FinFX will change the time zone of the Helsinki server to Greenwich Mean Time (GMT+0) / Coordinated
Universal Time (UTC+00:00) over the weekend of February 9th - February 10th 2013.The change will have an impact on the following trading accounts:
- Demo accounts
- Micro accounts
- ECN accounts
Please note that this might require you to adjust your Expert Advisors or Indicators to the new time zone.
Switching the server’s time zone to GMT+0 also means that the daylight saving time (DST) will not be used anymore.
Hi johnathon
No worries pal, thought you’d reply after posing the initial question but still love the thread. Learning loads I think haha
RMc
Sorry mate.
I am lost… I tend to pop in and out in between things. If you need be post the questions up and again and I will get to it pr refer to what we were talking about…
Hello) An excellent post on Trading with the Trend versus Trading against the Trend | DailyFX I hope this will help other new bies like me on this price action thread.
Thanks.
Watching the same levels although I have to admit I can’t yet afford playing neither gold nor silver from my tiny account. It is informative though to watch the PA and see how it evolves from my levels.
Fil.
PA cheat sheet
Hey Phill,
is there anyway I can edit your evernote sheet. I want to add a few things and also add a few pages from the site and then would use it as a basic list for new traders interested in basic PA. Think it could really help. It was awesome when we had it on page 1 as it killed a lot of the often asked questions, but was informed it was not allowed. I will add a few more things and then flick to the BP mods to see what they say and even if they don’t allow it would be very useful…
Johnathon
Thanks Johnathon and dudest. I’m a dummy, didn’t look far enough to the left. Just looked at all that open space
It had just occured after a break down of the support level. At that point I thought we’d be looking for just shorts.
Hi J,
Unfortunately Evernote does not allow sharing (co-editing) single notes on free accounts, I’d advise you register for a free (for life) account with them, copy my note and amend it to the level you are fully satisfied with (YOU got my full permission to do so ). You could as well send me those points so I could add them in, but it will not allow you to fully control content of the Evernote note as it’s assigned to my login details. I think creating your copy from scratch (start with copying my content) will be best solution.
FYI, I have tried to keep the amount of links (in my note) taking the reader to the outside (of BP Forum) content to absolute minimum. In my opinion the links from post one were banned as they were linking to your personal website, I am pretty sure admins will allow you to add them back as long as you will keep them pointing to the content of the forum (we got exactly the same rule on our company (retail) website, we simply try hard to keep our customers/readers to stay on our website as long as possible).
Besides, getting your own Evernote account will allow you to create other notes, so you could differentiate between free content for BP Forum readers and content for your other audience with more detailed links.
Sorry I can’t help more.
Fil.
