jamesbh is right , USDCAD is against the trend and keep in mined that oil is cheap now , so it works against CAD because they produce oil . However anything can happen in the market , just make some money Baojie.
Hey everyone, had a question that I would like people to weigh in on. This stems from some of my recent trades.
When do yāall move your SL to break even? I usually have an SL of 50-100 pips. So for example, say I have an SL of 100 pips, I usually move my SL to break even when I am 100 pips in profit. It is great to know that I am eliminating risk once I do that. Unfortunately, I have had a few trades that I get stopped out on at break even. Price might just go a few pips past my break even, just to turn around and go in the direction of my trade. There are two trades I got stopped out on at break even this week that if I had just left my SL where it was, they would be +250 pips in profit (1:2.5 RR on both). So what do yāall usually do? Thanks for the feedback
+1. Iād like to see some insight on it please. Been battling with myself when to break even. 
I can so relate to this, and in the passed I have increased my stops, in an attempt to prevent the scenario you describe, however,more recently I have focused heavily on risk mgt and reduced my wide stopsā¦yet, all to often, like you, trades get some good momentum, I feel confident about moving my stop and then BAM! Price retraces, am stopped out at b\e or for a small gain and price carries on to where my limit isā¦doesnāt half make you feel it can be rigged considering how often it happens.
I donāt know how experienced you are, but I am reasonably new to Forex (few years in but very sporadic in the first two years), so maybe its an experience thing and when we start getting in to better trade set-ups and entries this type of occurrence diminishes?
I too am keen to hear a full time\experienced traders view on thisā¦its far from uncommon.
I have a question about updating support and resistance lines. Here is my AUDUSD Daily, which this week has broken through a very good support area (that does carry a good deal of weight if you go back in time) - unfortunately I didnt observe any FSO PA methods used in this thread to get in on this very nice dropā¦(did I miss something?)
Now, where my yellow line is, is where I see a new resistance level, especially after yesterdays candle. But looking back in time it doesnt carry much weightā¦those of you more experienced with the FSO mentality, is my original line still the valid line or would you now be confident to go with the yellow line?
Maybe I am over complicating this and should keep an eye on PA around both these levels and take a decent swing high and PA signal should one form if price retraces to the yellow line area?
Many thanks, James
jamesbh i would call the yellow line one an intermediate resistance only, i would go with the original one ā¦
Iāve been learning Forex for a little over a year. Have developed a pretty good price action strategy and am making profits. Iāve made 5 trades this month. 2 winners, 1 loser, 2 break evens for +9%. And if I hadnāt moved my stop Iād be in the 20% range for the month. But not going to complain, just have to learn from it.
I think in the future Iām not going to move my stop loss to break even as quickly. I risk anywhere from 1-3% of my account on a trade, and I need to be willing to lose that amount rather than quickly eliminating that risk. If 50% of the time it went back to BE and ended up hitting my SL and the other 50% of the time it went to BE and then hit TP, it would still be profitable since my RR is a minimum of 1:2
Iāve noticed it is usually pin bars that are stopping me out. So maybe atleast waiting until the end of the day to move SL.
Hey pipdawkter,
This is a great question and one we all have come across at one point or another. Just as you have mentioned above, you have to determine if the reward you are going for is worth the risk. Certain situations I will move to BE, and other situations I will allow my trade to run because I have decided that I would rather risk a full loss for the profit I am after, then to be stopped at BE and watch it go on to hit my target. I am always more inclined to look for bigger profits, but that is just my style. Some people call it āaggressiveā, and some traders are more āconservativeā and would rather take small pieces out of the market and be sure that they are safe from losing anything. This takes lots of chart time and understanding of how price moves to determine when the right time is for a certain action, as well as a higher understanding of your own personal trading style.
Safe Trading,
Joey
Hey James,
I saw this signal too and I was extremely tempted to take it because the strong bearish momentum that had broken through a very key resistance and how the signal formed with a really high wick and strong bearish close, but in my plan for this pair I was waiting for a retrace back into the white level you have marked. This is always the safer and more high probability play.
Safe Trading,
Joey
Hi,
Johnathon teaches that b/e should be taken when your trade reaches the first trouble area or take profit area on the chart. This is where you would take 1/3 or 1/2 profit and move the rest of the trade to b/e. If the trade does turn around at this point of resistance/support, you will at least have a part of your position taking profit. In my experience the psychological benefits of taking some kind of profit are incredibly important.
Jerry
Friends EURCAD 4HR has fored a PB at resistance. Can someone advise if it is a valid Pin Bar please?
DD
Dubadat, you need the next candle to close below the PB. That will give you an entry below the PB, but as next support is at 1.42500 it is not going to give you much room for profit with a stop loss above the PB.
Also the trend on the 4H seems to be upwards at the moment so perhaps waiting for a pullback to 1.42500next week might be a better option.
Kind Regards
Close below the PB or simply break the low of the PB (and enter during the session?)
Anyone spy any trades?
EUR/NZD D1. Iāll be all over this on monday. SL above high of previous candle, TP1 at 1st TA at support, then will move SL to BE and let trade run to next TA around 1.5250-60 area. Have a great weekend. Good trading, G.
Gforce i am enter this setup.
my entry point is 1.5530
sl price 1.5693
tp price 1.5000
what do thing about my setup?.
are u enter this setup
I am also watching WTI Oil. price is at a S/R zone at around $48.00 and could turn back down, or keep going up to next resistance. Watching for short PA. It can be a volatile instrument.
Hey guys, I just started with this method a few weeks ago, but I think this is the best. Iām still using a demo account, and I spotted some possible trades, could you please analyze if my thinking is right?
First this on EURCAD Daily, because of that large pin bar, maybe going short after a bearish confirmation?
Then this on the GPBNZD Daily, going short for the same reason, although that pin bar is not so distinctive.
Lastly this on EURAUD Daily, going long after that 2 pin bars and hoping that the price only took a short break before going higher.
Hi Abir. I cannot give you trading advice but your entry should be with a pending order appx. 5-10 pips below that Pin bar by FSO rules. Refer page 1 entry rules. What happens if price reverses on you? Can you take the loss? You will also be trading into some traffic to the left, but trade may come off. All the best, G.
Hello Darastonious.
My amateur thoughts:
-First PB did not close within previous bar so not within FSO rules. It also closed bullish so keep watch!
-GP/NZ PBās too small and bullish. Wait for stronger/bigger PA.
-EUR/AUD. Keep watching. PA may well reverse too? At a key level though. Wait for strong PA.
Best wishes, G.
Thanks gforce. Now I can see, this is why I asked, so I can rehearse the signals.
By the way, how many pairs do you guys watch? I follow about 10 pairs, plus gold and silver, but this seems a bit few.
EURCAD: my KHL is at 1.44292, try to zoom out a bit and you will see why, but still it touches this level and I will keep an eye on this pair
GBPNZD: to me its just in the middle of a range from a weekly view so I will wait for it to go higher to around 2.10403
EURAUD from my chart looks like buying into the resistance
But I am only demo trading so far so dont take me too seriously 
