It’s gbp/usd daily chart
Thanks. Now I should comment. This thought icomes from a newbie and the reason I asked you which pair is I always check your chart, they are very interesting, some are very profitable. Here is how I look at it… Ranging. I would let it go up one more time and short it. Not A+ to me but if it goes up and it shows PA at the top of the range that may be an A+… Well what do I know have not seen an A+. Hehe.
Hey all,
I travel every week and so at times I will not be around. Thanks a whole heap to Bryce for answering all the questions. What Bryce says is what I would say so listen up.
If anyone want to know about RR and why it is only half the equation please read here: [B]The Myth of Risk Reward[/B]
Just aiming for blind RR such as 3/1 RR is just to be honest crazy.The market does not give two hoots where your target is and all it works of is suport and resistance.
Bryce posted a pretty solid setup on the GBPCAD 4hr. Whether this wins/losers or draws these are the good setups traders should be looking for. Unsure what support you are referring to Brink?
safe trading all,
Johnathon
For me personally I would say I take about 30% of my trades on the 4 Hour. Because if where I live, NZ, I tend to only get a shot at the London open, otherwise in the morning I trade the Daily NY close.
But everyone is different.
Over in the forum Spongy is from South Africa and it suits him better to play the intraday charts as he is asleep when NY closes.
And the 2nd part of your question, yes I mark my zones/lines up on the daily but if I see price approaching this zone and I am sitting in front of the TV during the evening (NZ time) which is of course the London Open and I see a nice signal develop on the 4 hour right around this zone then I will look to get into the trade.
If you are new to PA trading stick the Daily until you re consistently profitable and then look to maybe drill down to the 4 hour charts.
Cheers,
Bryce.
Hi Guys,
There’s a bearish pinbar forming on the USDJPY 4hr chart. The candle still hasn’t completed so it still needs to be confirmed. If somebody more experienced could have a look at it, it would be appreciated.
Yes I think so but it needs to be confirmed. Maybe wait for somebody more experienced to comment and appraise the setup.
Ok I worked it out it is EURJPY. Please say the TF and pair when posting.
I don’t want to say too much but I would look around at other pairs for some they may possibly be formed at better areas or more key levels that are from swing highs that have just formed at the same time.
Johnathon
Thats Euro/Jpy. Thanx for reply
Looking at 4 hrs chart of USD/JPY & CADJPY. Is it valid for short entry ? Am I catch ur thoughts Mr Jonathon. Thanx
maybe not support …but i usually class that as support.
on a pair with a 6 pip spread on ask and bid…therefore need about 12 pips clearance before your in money.
and this pair has support at about 12 pip clearance of beeb
yes so i would class this as a C+ set up …but like i said if support breaks then it may be interesting.
but maybe i saw it wrong.
cheers your comments welcomed.
Hello!
And still u could have made some money there! 
If u are trading on pepperstone.com platform, u would have only 3 pips spread + 1 to 2 pips lower = 5 pips to enter the position, and actually there are like 14 pips to the first T/P level.
Richard
hey man …take it easy…i just thought we were discussing A + setups thats all…
i hope you did make some money…but not yet…i presume …not until that support breaks.
until that support breaks the only person making money is the broker.
Hi
Dudest
I am new here. one question plz how I improve or learn better about support or resistance. Thanx
I am new here but I can answer that question for you very quickly.
[B]Pipschool[/B]
Do the course and it will show you everything you need to know.
Hi in2fx33!, and welcome to the thread.
You thought right about posting when something is stirring up, it will help you more than you may know right now :)!
My thoughts on GBPNZD: My line is exactly where your (blue) line is ( Big Round Number of 1.9600 ).
Where the bearish bar formed yesterday, there was still a gap between it and the resistance zone, so i ignored it as not being at swing high. If the bar had been (much) bigger, and say engulfed the previous bar, while touching the resistance zone, I’d have jumped right in.
Price is now approaching the resistance zone; will be interesting to see what happens here!
I’ll be looking for bearish PA on D1 and H4
Cheers!
You may all like a live video I have just released here:[B] Live Price Action Setup – Johnathon Fox[/B]