EUR/AUD. Just an observation. Price is near KHL where i’d be looking for some bearish action ideally. However, both of these currencies are bearish at present, so i would tread carefully.
Any thoughts? G
Hi Tranceaty,
Why not post the trade set ups you are seeing, but maybe unsure of, and we can all have a look at them and offer our viewpoints? There are a lot of great trading minds at Baby pips. Trading can be a solitary gig, so site’s/threads like this show we are not alone and can provide support.
Post any trade you have questions with no matter what, and i’m sure you will get positive and constructive feedback. I also know that Johnathan will always answer any emails at FSO if something isn’t clear. G
Okay, my mistake, I see what signal you were trading. Technically it would be a 2bar since the candle doesn’t completely engulf the previous one. In any case, I would not have traded that either.
Daily
4HR
While this may have worked out this time, I would not suggest to continue to take signals like this because they aren’t high probability and will most likely lead you to a blown out account. The only thing that was really going for this trade was the trend which from my perspective is why it worked out. I do respect you, though, Gforce for continuing to post your charts and look for feedback. Continue in this way and you will surely become a successful trader. 
Safe Trading,
Joey
EDIT: I realize that my pictures came out very small for some reason, so if you are having trouble seeing what I wrote, let me know and I can redo them for you.
As far as BEEB go, I wouldn’t like the one with lower wick protuding out like that.
Anyway if you take other things into consideration shorting EUR was an excellent move. Especially pairing up with USD where the economic is improving.
The initial candle you took was market’s immediate reaction to QE… followed by the big player stopping people out to fill their own sell orders. QE exceeded expectation of 50B/mo as Dragi announced 60B/mo. Now QE is huge fundamentally… expect the down trend to continue for a whole year unless Dragi gets fired or assassinated. I even removed SL/TP from my short positions and planning to hold them until Christmas 
Anyone who miss the sell, I expect EUR/USD to go up again to kill more bear. That would give us a second opportunity to ride this QE franchise. Especially NFP next month would be an excellent excuse for the wolves to push this pair higher.
Safe trading!
ps. I shorted my initial position at the top of this range.
Thanks Joey. Now we’re talking lol. Very clear. I get you, and i see what you mean re swing low which i didn’t fully see as my daily level is different to yours. Mine is at 1.1640. But info taken on board. Thanks for taking the time to post that chart. G
Thanks for your comments and chart Panupat. You say you entered at top of that range? What was your signal/PA to enter?
Thanks. G
Again, G. I am just trying to help not criticize
First I’m glad you lock 3 RR that’s something I’ve never done and I’m jealous wait to go !!!
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Just pay attention for an EB to be validated its bottom/top should be broker, you entered way too soon.
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Normally this is not an ideal EB because of the long wick from the side you want to play it, ideally it should have no to little wick
Keep it up
EDIT: sorry I should have paid attention to all other replies before posting
as promised
This was my first trade by the rules of this thread for this year, i say was because i’m already out, entered at the break of the pinbar for 30 pips (to FTA)
Not the best R:R but the odds were high so didn’t want to leave money on the table lol
Cheers
Hi gforce. It wasn’t based on PA or signal, but based on the idea of “buy low sell high”. If there’s a range, I try to buy the bottom and sell the top. If there’s a pin or 2BR, even better! In my particular EUR/USD trade I was also thinking about QE so my bias was already short to begin with.
To best demonstrate this idea with PA I think my EUR/JPY trade last month will be better.
EUR/JPY was bouncing up and down in a tight range.
I was looking to sell at the top of range and then that pin formed. I viewed it as a stop hunt. Wolves collecting buy limit/orders for their own shorts. I entered below that pin with stop above the wick FSO style
Ignore the level 3 notation as it was for another method.
When price reached the bottom of range, my finger was itchy to close my position and bank my profit (which was around 3R) but I decided to leave it alone instead because I thought the potential of huge R was worth the risk.
Closed when price made those long long wick.
Would you risk BE for a chance to make 10R? 20R?
Hi Eternal,
Absolutely no worries friend. I know you are meaning to help, so no worries, thank you i appreciate it.
Which candle on my EUR/USD trade are you talking about? I didn’t trade the candle with the long lower wick. I traded the BEEB/Reversal bar set up 5 candles before. See my chart a couple pages back for my entry.
My pending order was set the day before on the 21st january 5 candles back, a few pips below candle.
Price was at resistance, and a KHL for daily/weekly/monthly which it had closed below, and in a downtrend. There was enough confluence for me to use my discretion and decide to pull the trigger.
Congrat’s on 30 pips on your trade. Why didn’t you stay in longer?
Good trading, G
EDIT: After just reading 2BR and BEEB rules again, it wasn’t quite either. Thanks for correcting my terminology Joey and everyone. Made me look at those particular rules again from all of your comments. Thanks, G
Nice one Panupat. Yes, i understand your trade. I took a similar PB from swing high on H1 EUR/AUD this week for 3RR.
I agree, let our trades run! My TP on EUR/USD is a couple of hundred pips away for this purpose. I will manually trail my stop to lock in profit as i go. This technique may also mean if i have my stop too tight, i will be stopped out on a retrace and miss out on bigger RR, but this is something i am working on.
Thanks for posting your chart and sharing your thoughts. G
Thanks everyone for all that you have shared. Really appreciate it. I need to feel more confident of myself and I know I can do it.
I will promise to post more threads and share my views.
James, just like you, I’m also trying to adjust my routine to be able to catch the 4 hour charts especially during the intersection of London and New York trading hours. Some days when I’m too tired from my work, I will try to make it a point to at least watch those major pairs. Need to create more chart time for myself.
By the way, gforce, I noticed that you are always enter at 0.02 lot per trade. Is there any reason why you keep to the same lot size? I always vary my size depending on my SL.
& that’s exactly what you should be doing
Because i’m an idiot. :33: Thanks for the reminder Tranceaty. Look forward to hearing your perspectives in the future. G
Hey guys,
If you haven’t looked into it already, I highly suggest investing in a backtesting program if you have the funds. Being able to test your strategy with historical data has helped me so much to improve my skills and give me confidence in my ability. While it does not help so much with the psychology, your technical skills will improve drastically in such a short amount of time and you will be able to see the power of this method. Here is a great article by Johnathon regarding this topic: Back Test Your Strategy To Success. You can also find a link to receive a special discount for FSO followers for Forex Tester in the article. If you do decide to purchase Forex Tester, I highly recommend that you also purchase one of the premium data packages because the free data provided is not very accurate for practicing price action.
Safe Trading,
Joey
Jamesbh and pipwhip,
thanks for your replies.
I’m looking more closely at FXTM
USDJPY D1 Support & Resistance question
I am keen to see who has the S&R lines on USDJPY positioned at my white lines or red lines? I am just revisiting my charts today on the Daily’s and assessing where “the obvious” S&R lines should be, but USDJPY has got me foxed (pardon the pun).
(yes there are yellow lines too, but I have just marked out an Inside Bar - which I may look to trade from the 4hr on a break out and retrace - for my own trading not FSO methodology)
Many thanks, James
Thanks Joey. Def worth a look.
NZD/USD at monthly support. Breaking through it now. A great opportunity for some pips earlier this week. Might be one to watch. Price sure is active out there! G
I concur gforce…right on a support line which dates back to decent activity in 2012 & 2011…I will be looking for a decent break and retrace and go with the trend…one for the hot list for next week…
(nice trading of late gforce - I know you have had a bit of stick for them not being true FSO trades but to me it does show how the knowledge in this thread can help make your own personal trading methods even stronger)
Cheers, James
Another one in the bag. Closed trade for 2 RR. a few pips shy of original target as price hovering around VBRN 1.6000 so made sense to close. Scotty, you were in this trade weren’t/aren’t you? Great method Johno!
UPDATE: This trade has just gone on to hit my target. Nice. I reckon it may go lower to the next support if it closes below 1.6000.
Thanks James, hehe yes a little flack here and there, but i know it is constructive and meant in that way. I’m just jumping in and trading this method after reading the rules, but of course i don’t always remember every rule e.g. entries etc. but no stress for me, i know it will come as i keep doing. I will have a look at those US/JPY levels.
