So you trade the break of the low of the first bar in a 2br? I don’t think I’ve seen examples of 2br trades in this thread that’s why I’m not aware of this. Thanks for clarifying that. :57:
Sweet, I like this. I just wanted to give an advise, but ouh well… I’ll just stick to what I’m doing based on the information and examples, and knowledge u gave us Johnathon, thanks alot!
hi johnathon and fars.
just a quick message to say.
i agree with everything johnathon has written there.
personally i have 2 methods of trading…
1 is A+ setups…that i learn about on this thread. that brings home the bacon
2. is proper live price action trading reading price as it unfolds. (old school)
anyway…reason for email…is that i have been going against my mentors teachings quite a lot recently…
i have been letting my ego…get involved in situations…
this is a rapid way to get slaughtered by the market…letting your big ego have a say in decisions.
at the end of the day im apologising to Fars for that i tried to humiliate him…and also appologies to anyone else on the thread i have offended by not keeping my ego in check.
at the end of the day …i have learned a lot from all of you guys…and am grateful for that.
my ego has something to prove…but my mentor says…forget ego…just follow the market and listen to what she says.
so that is what i got to say really.
im even gonna change my picture to something less annoying…(i actually chose it because it is annoying) …anyway this is a serious business and we all have a lot of serious learning to do …and again i realise i just get defensive when someone rocks my boat…
but that shows ego and lack of control which is not good in this business.
anyway…
that is my appology…and i hope to have many ‘productive discussions’ in the future.
It’s fine dude! We all are learning every day. If u use another system it’s okey, I just thought if u are posting charts here, then these charts and all the placed res/sup levels, and PA are based on this system, so that’s where I got confused and tried to explain.
Good spot fars, you guys really seem to be getting the hang of johnathons teachings!
you may also notice that the signal you mention has bounced off of a 50% fib retrace meant too. Only thing that I would like to see is price breaking through and closing lower than that BRN of 1.2800 as you would be trading right into solid support which it seems to have struggled with in the past and is struggling with now. So I think if it can break this level you have the makings of a good trade on your hands.
Edit : On a second look at this i do have more thoughts and a slightly different idea on this trade which concerns trade management, which are not to be discussed here. I would just say that this would be a trade that would need to be treated with caution.
I do just want to point out that I am still learning johnathons method so don’t take my thoughts as advice! It helps with learning to be in discussion, the guys you need to take advice from are johnathon and bhops.
If your referring to the beeb think about where it is, johnathon made a lengthy post here recently explaining about buying low and selling high, if you were to trade that you would be selling at a low. I’d suggest reading through johnathons post explaining this and if you need any help don’t be afraid to ask :).
Johnathon teaches trading pa to give you an edge in the markets, and part of this is trading from key logical levels, beebs occur all the time and if you traded them all you will surely end up getting burned. We only trade the best signals that form in the best areas.
This is a better beeb, formed at a swing high rejecting a key horizontal level, but for us to trade we need our setups to be a+. This set up would be an easy pass for me for a couple of reasons. You would be trading against the short term trend here which is not recommended for newbies to this method (I don’t trade against the trend myself yet), and if you were to trade against the trend you would definitely need some room to trade into. Here you have a lot of preceding traffic and also you would be trading into strong support, so this trade would definitely not be a+ for me.
Hope this helps, i would suggest going through this thread there is lots of very useful info throughout, the first 20 or so pages contains the jist of it though. Pay particular attention to what johnathon has to say obviously but also bhops (bryce) he is a senior trader at johnathons site, and also dudest is a good member, I learned a lot from these guys in this thread!
Engulfing bar occurred at a major support level (on the 4hr and Daily)
Bar is big and obvious
Occurred within a pull back from the current trend.
Closed in bottom 1/3 of Candle.
Negatives
5) Big Round Number 1.0200 is only 20 pips away
Final Rating:
A+
Trade Management:
I believe that this will drop about 15 pips then maybe hang because of the BRN. At this point I will move move my stop to BE +1 and take 1/2 profit. My final profit area is 1.1050 before closing full position.
No need to be sorry, I’ve just reread my post, I posted it quickly and it looks like it came across harshly which was not my intention so I’m sorry for that!
I also posted my thoughts on this setup incase anybody was interested
