Wow!! I just logged in a PA id doing crazy things!
Sorry I never had time to post this trade I took yesterday (aud/USD), but it worked out nicely… Wish I would have entered with multiple lots then I would have been swimming in the money…
Positives
-With Longer term trend
-Pull back from current trend
-At a relative support level
-Nice wick size
-Pin finished in top 1/3 of pin bar
-Price shot into this area and was rejected
-Really nice profit waiting
Negatives
Wick occurring near the end of US trading session going into slow down time.
Final Rating:
A+
*Note:
As always other comments are welcomed on my analysis and trading ideas.
Here is a trade I’m waiting on a nice PA signal for.
I like how this has shot into the support area, so if it creates a good wick, I will consider this trade. I probably would not take it if it makes and engulfing bar, just because it would be right at another minor support level.
It’s like pinbar porn out there on the H1 charts! I was sleeping for all of them, but they are great to see! I don’t generally check the H1 charts, I stick to daily and H4.
Jonathon in reading your article, How to Make Money Forex Price Action Trading, I got the impression you check your charts on the close of the H4 candles, so obviously you check lower time frames as well. Do you just look at the H1 every 4 hours, or do you occasionally sneak a peek in between 4 hour closes?
It’s not going where “it should”, lol
Dudest, would you mind linking to the aforementioned article (first BEEB), please? I am afraid I might be lagging on this one… and it seems to be pretty important one.
Would you mind explaining why?
My understanding was that if we play longer Time Frames (1D), the swings would be wider, therefore they would require larger stops (in pips); while playing on the shorter TFs (4H), R/S would appear more frequently requiring narrower SL. Unless you’re playing 1D swings from 4H TFs?
Please forgive me if we’re entering MM too deeply in here. If so, just let me know.
Hi, firstly, just like to say I love the thread! I managed to get through around 20-30 pages of it this morning/afternoon and was really impressed! glad that radicledog sent me here
Just wanted to clarify a few points (If I have missed it in my scrolling through I apologise - I am also very much new)
The key Price Actions you are using are Engulfing patterns and Pins
You trade primarily on 4H or Daily Charts
You look to only trade in conjunction with Support/Resistance Lines
With Shooting Stars (Pins) your looking for ideally the wick of the candle to be 3x the body? Or is it the opposing wick ?
The bigger the engulfing pattern the better the trade - The signal should be Very Obvious.
Both patterns should be at the end of established trends
How am i doing so far?
Bit lost on the stop loss however
As to money management the stop loss issue would help me clarify - Sorry to be so cheeky to ask but as they say -
Pretty much we play 2 bars, pins and engulfing bars. There are others that could be traded but these are simple and work over and over again. The there are obviously other PA patterns such as double bar high and lows and inside bars that we can use to read what price is doing or to help is “read the chart”.
Pretty much what you have said is correct.
Stop is up to the trader and not something I discuss in here. Same with trade management and money management. This is up to how people want to play.
The signals should not be at the end of trend but at pullbacks with in the current trend so value areas to enter with the short term momentum. We trade from swing highs and lows but these are normally in the trend. Obviously we can trade counter trend and in a range but this is another point.
The wick of the pin should reject the area you are trading from. Tons of examples in this thread.
It’s really great to see you providing help and guidance on Price Action. It’s really hard to find a genuine thread purely discussing about price action and tutorial. I have just recently started on Price Action and there are lots to learn with. Now there is a question, please see attached.
Please take time to go through the first 20-50 pages to get a very good idea of what we do and how we trade.
We do not trade harami’s. Just of the top of my head isn’t a bearish harami just an inside bar at the top of a trend? Sorry if I am wrong. Whilst we use inside bars to help us read a chart we do not use for trade triggers. There are far far better, more reliable and powerful reversal signals.
Thanks for pointing out. Could i suggest to arrange the thread in pages so first time reader could see what’s going on instead of going through the whole thread to find what’s needed? Just my 2c.
Nearly everything that is needed is covered in the first 20 pages. I have posted live trades, videos etc etc. All that is needed is for people to take the time to go through it and commit to learning it. I realise this may take some people a little time but this is also why I have posted a lot of the key info at the front of the thread.
Of course if you have questions just post them up but you will find a lot of the very basic questions will be gone after reading the first 20 pages or so.
Thanks Johnathon for sharing how you trade.
im just going to be direct, on your website if i join, are other members posting what trades they are about to get into?
and do you post every trade you are about to do, and when you’re going to get in, where your going to place SL and where your going to take TP? so i can do all the trades you do?
thank you so much Johnathon.
(ok really hoping the picture worked otherwise = AUDUSD,H4)
Ok I’m looking at the pin bar on resistance around 1.02578 ?
Entry: 1.0220 (just below the low of the 2 pins)
Stop Loss 1.03 (bare minimum I am willing) which at £2/point is 4% of my account - however, I may increase it to 150points to stick with my target of SLOWLY reducing my stop losses… but we shall see - I’ll be waiting for your insights
Target: 1.012 - Target of 100points or £200 at this stake
Ok so eurusd, this looks like a bullish engulfing bar… a big one! any help on how to attack this?
However, I dont believe this is a viable trade becasue entry would have to be at the next short term resistance at 1.271 and the target would have to be reasonable so the next resistance at 1.283 - let me know if this is accurate
Finally USD JPY Daily this also looks like a bullish engulfing bar
but I have no idea how to trade it and even if to trade it as the next resistance could be at 80.554
Let me know what you think as I’m eager to contribute
- I am also very much new)
