Hi Jonathan,
Just one question… if short aud/usd and currently on profit, then came price action which has a nice pin bar at good area to go long for nzd/usd, what would you do??
Need your expert advice regarding this kind of scenario…
Cheers
I would be looking at the trade chart I am in ONLY for hints and PA. I would not be looking at other pairs when the trade I am in holds all the clues.
There is no point looking at something else because if the NZ brings out some announcement price could shoot one way and the Aussie do nothing at all.
If you make a trade on a pair than stick to it only. If you make a trade on a time frame stick to it only. KEEP IT SIMPLE!
Johnathon
Hi Johnathon!
Excuse me if I’m importunate and in case if u missed my post, I’m gonna quote myself from the previous post and remind the 2 questions I asked u:
Richard
Hei!
Was thinking about that resistance line (u mentioned) as well (@98.85), but when u zoom out the chart, u can see that there was a support before, which price respected (@98.53), altho price has bounced more @98.85, so it may be more significant sup/res level.
Richard
It’s a really difficult question to answer IMO, I am honestly hoping it to bounce off your support to go long (not necessarily today) as I think there was a pretty solid reversal at the bottom of the range on the beginning of June. I was hoping for new short term up trend to form, but new higher highs did not form, so the support at 125.6 might have been strong enough to reverse it.
As I’m writing it a large Bearish candle is forming on your support, we’ll see…
Fil.
Please remember I do my very best to asnwer questions but members come first and I simply can not answer all questions. If there is emails or forum messages from members obviously I will attend to these first and foremost. It has just been taken off by admin but if people have questions they can contact me via email direct at <[email protected]>.
Okay so when placing a trade on the MT4 I open 3 positoons. It has to be done this way because if you open 1 positions you can only place orders for 1 position. You can however open only 1 positions and then manually close parts of that positions.
For example if I open 1x, 50,000 trade. I can manually close taking of any amounts I want example I may choose to take 25,000 off manually and leave the other 25,000 going. I can do this manually.
If however I wanted to manage the trade as 3 different positions with pending orders (targets) I would have to open that 50,000 position in 3 different orders. I may chose to then open 1x 15,000 1x 15,000 and 1x 20,000. I can then set pending orders on all 3 because they are 3 separate orders.
Make sense?
I use this here: Screen Marker - Download Very good and I also use very good software for the videos which is of a high standard.
Hope this helps,
Johnathon
Heya,
it doesn’t really matter either way whatever it does. I was just posting because this looks like a good chart that was interesting.
The support level I marked is still holding and has formed a pin. As you said this is what you wanted to go long can I now assume you are long?
Safe trading,
Johnathon
Hi Sicnarf!
I was looking to go long there because resistance had been broken.
So if price pull back to the same level and new support held, i would look for PA to go long
Cheers!
Hei Johnathon!
I totally understand u and excuse me once more if I wasn’t patient enough, I just thought u missed it.
Thanks for the great and detailed answer and for the link as well! 
Richard
Hello dudest!
Looks nice, good spot there! Would definitely take it if I was home at my charts. The PB stands out, nice support level as well. Just a little bit traffic before your desired T/P level (I assume, that’s what u ment showing that resistance), but that’s why we got trade and money management! 
Safe trading,
Richard
Hi Dudest,
This is my first post and I am still reading through the thread, but I wondered why you would not take the BEEB that has just formed on th USDCAD 4hr and the 1.0180 level that has been broken, and Sell down to the 1.0150 area? Is the RR too small ?
Thanks for any response.
Andrew.
Because as he said when the area he highlighted broke he changed to looking to go long. That is also not a beeb because it does not engulf any candles.
Safe trading,
Johnathon
Hei!
IMO, there isn’t any BEEB as the bar doesn’t completely engulf the previous bar (including wicks). Can’t post a chart now to show it.
Richard
Thanks for the reply, and apologies for my naivety! I thought this was the BEEB:
but from what you say it must not conform to the rules. I will re-read and keep looking.
Kind regards,
Andrew.
It must have a higher high and lower low than at least 1 previous candle. This does not have a higher high. Read: Bullish and Bearish Engulfing Bars Introduction
Hello Johnathon!
I got a question, couldn’t find this in the article about PB, so does it count as a valid PB if it’s open/close is at the same price where previous candle’s high/low?
Richard
Not sure I understand fully. As long as the Pin opens and closes with in the previous candle it is valid. This can also be matching the previous bars high or low but not outside.
Johnathon
Hei!
U did understand me well. Thanks!
Richard
Not yet. Is this a tricky question?
The daily bar closes at 10 pm my time (in 10h) so will get back to the charts before going to sleep. By that time anything can happen and we might end up with a broken support and no PA to go long, right?
Fil.