Forex Price Action

Trading Systems Free Forex Trading Systems
2330

Uh oh I put it at 1.2820. there is time to change it

2331

Hei!

Dunno how u guys, but I passed this one. I donā€™t like the fact that it would be a trade going straight into the support line (the BRN 1.2800). Other factors (resistance level, trend, fibbo, PA) seems good, but this one didnā€™t convince me to take the trade.

However, the trade may still work out, but, IMO, itā€™s not A+.

Oh, and I got a question, why did u place your entry at 1.2820?

Safe trading,
Richard

2332

Coming soon to a USD pair near youā€¦?

20120713_audusd_h4_waiting_for_shorts.jpg700Ɨ296 18.7 KB

20120713_gbpusd_h4_waiting_for_shorts.jpg700Ɨ296 20.6 KB

20120713_nzdusd_h4_waiting_for_shorts.jpg700Ɨ296 18.3 KB

20120713_usdcad_h4_waiting_for_longs.jpg700Ɨ296 19.6 KB

Letā€™s wait and seeā€¦

2333

Gold.jpg700Ɨ383 24.2 KB

Hey Guys,

How many of you took this pin bar setup on XAU/USD? I think it was a very solid pin bar rejecting $1550 support. However I entered long trade at $1570 & now already in hefty profit. The important things of this PB are:

  1. Big & obvious
  2. Formed at support
  3. Open & close within previous bar
  4. With current trend of range bound

So can I rate this as A+?

Johnathon what would be your opinion on this? Please reply.

2334

Those charts all make sense if the markets start to panic again. The Chinese GDP data has given some relief but how long will that last. Also worth noting is the fact that their number came in bang on the forecast. How often does that happen in the real world?

Anythingā€™s possible in communist China though - :54:

2335

Waiting for this to confirm, looks like BEEB if it continues to drop. :wink:

Richard

2336

Hey Mate,
Johnathon is not a cheap date :wink: and i can assure you he wont comment on it. So we need to help each other here as much as we possibly can.

Its interesting how differently the charts can look like from different brokersā€¦

I am no forex specialist, but this pinbar is not on the support excactly, and as well, take a look at my chart. Such a pin bar has been produced earlier in June, and after it you had to wait another two days until you knew it is a kinda downtrend in the end.

The longer i am in this business the more reluctant and fussy i become. Please excuse me if i burst your bubble.

chart8.jpg700Ɨ525 29.7 KB

2337

Hey guys

Wow is all I can say. Iv been away for a while and look whats happening here!!!

I like the way everyone is coming on in here. Give it up for Johno! :59::59::59:

2338

Thanks Bob. And fussy is good. A lot of traders could do with being more fussy!

2339

Dear cyberbob222,

My post is about XAUUSD (Gold) and not for XAGUSD (Silver). The image which you have attached is of Silver pair.
Also PB did not touch exact support but how would I know what is exact support? I just need to confirm that it rejected ā€œSupport Zoneā€. If you take a look back you can find three such good PBs rejecting support & resistance levels. And about your trend comment this pair is in consolidation rather than any up/down trend.

Gold 2.jpg700Ɨ380 24.9 KB

Donā€™t take anything personally. We all are here to learn. :53:

2340

Yes sir, thatā€™s correct.

2341

Indeed!, 3 cheers :slight_smile:

I was wondering where youā€™ve been Spongybob! [ holiday in Seychelles sponsored by PA? :smiley: ]

Iā€™m astounded by the progress of the thread too :slight_smile: [ remember how excited we were when it got to 1000posts? lol :slight_smile: ]

I wonder if thereā€™s a way to archive this thread ( e.g like export it to a PDF file ), great resource for many moons to come

Cheers!

2342

Hi

Dudest

Nice contribution thanx a lot for it. Which broker u use.

2343

Pepperstone (recommended by Johnathon)

2344

Hei everyone!

What do u make out of these two charts? Either u go against the trend and take the position on H4 TF after it breaks the marked red zone (this would also include finishing nice BUEB) or u wait for the pullback and possible PA at the D1 marked area, or u simply do nothing, because this is friday (by the way 13th) evening? :slight_smile:

EUR/USD H4

2012-07-13_1755.jpg700Ɨ281 18 KB

EUR/USD D1

2012-07-13_1751.jpg700Ɨ281 19 KB

Comments are welcome.

Richard

2346

Hi Guys

Hope everyoneā€™s looking forward to the weekend.

Just wanted to ask about using D1 charts on a Monday, are the signals still reliable, due to the break over the weekend?

cheers

Martin

2347

I dont find any good reason yet to long or go against the trend. The EU market still weak. yesss, im waiting for the pullback and possible PA at the D1 marked area.
Thanks

2348

I think this is a A+ setup.
The price rejected the suport zone with a big pin bar!
Look to the WEEAKLY chart to see how important this suport is.
What do you think?

Uploaded with ImageShack.us

Uploaded with ImageShack.us

2349

Yup, itā€™s the D1 chart. H4 candle closed the way I didnā€™t want to.

Richard

2350

Hi Richard,

You gave us solid three options to choose from :slight_smile:
I have to be honest - am watching exactly the same level (and hoping for a pullback) on a daily chart, I donā€™t feel confident enough to go against the trend (H4) yet.

Just to add my 2 pips - I am watching closely all NZD pairs right now. It looks like it was getting stronger slowly.

Have a nice weekend guys andā€¦
Stay focused!

Fil.