Forex Price Action

Ok, waiting for your good news :grin:

That’d be awesome , We are really thankful to Joanna and Bhops to teach what actually Price Action is without indicators.
Thanks to all of you.

Hi! How can I join your discord chanel?

Not all PA trades work out this well, but here is one I discussed with a member in real time. It is the on the Weekly so patience is required. It is a BEEB on the NZD/USD. can anyone tell me what this might have been a good trade to take using our Price Action trading plan?

What’s the definition of price action? Trading by intuition or something like that? I mean we still has to decipher some patterns but how do we verify that some particular pattern leads to certain price response?

There is a downtrend here so we only want to take shorts at swing highs (which is what we have here).

If we go through the checklist:

Is it large and obvious? :white_check_mark:
Is it at a swing high or a swing low? :white_check_mark:
Is it at one of the significant support or resistance areas? Yes, it appears to be resisting the BRN 0.7
Is it going into a BRN? No.

Thoughts on this pin bar? GBP/JPY on the 4 hour chart.

Marking this off as Dudest would:

At a swing high: yes
With the trend: yes
Significant: yes

The only thing I am a bit stuck on is that I thought the BEEB had to be against BUEB and vice versa.

A few things I’ve spotted with this pin bar. It would need to be a bullish pinbar for us to go long, with that being a bearish candle still. Also, it’s in quite the strong downtrend there, so would be rather risky.

As far as I understand, the candle for the pin bar does not need to be bullish itself in order to be considered a bullish pin bar. As can be seen in the example below posted by Jonathan.

image

As for the point about the downtrend, you are probably right. I am reading over this article from Jonathan’s website regarding trends How to Trend Trade the Forex Markets. Very helpful indeed.

Ah yeah, you’re probably right. And very nice article there, I’m going to have a read over that myself!

Price action can man a few different things but in this thread we like to keep it simple, so it’s analyzing whether opries is in an uptrend, a downtrend or a ranging pattern.

Then we look for certain price action triggers at key levels to see if we can enter trades with a greater probability of winning. Those triggers that we use are Pin bars, Engulfing Bars and Inside Bars.

Other trades will use certain patterns like heads and shoulders or breaking rising/falling trendlines as well. there are a few ways to skin the proverbial cat.

Perfect! you’ve pretty much nailed it.

The level and signal seemed nice but you are taking a CT trend and trading against that short term Bearish momentum. On CT trades I usually like to see if I can get to BE really quickly. depending on you manage trades that Bullish bar might have gotten you there. Or maybe not.

Yes I need to work on identifying the short term trend and the article I posted earlier has helped me a lot. Thanks for the feedback. By the way, is it still possible to sign up to FSO for the members forum access even though Jonathan has left? I tried about a month ago but none of the emails work unfortunately.

Thoughts on this BEEB?

Looks pretty good, I’d just be cautious about the strong uptrend once again

the course is currently closed unfortunately

it’s happening at quite a nice level but not at the very high of current price which is where we’d like to trade from

Sorry, any chance you could elaborate?