Forex Price Action

Is this a Bearish triangle pattern?

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It could be, but such patterns are not a part of this thread :slight_smile:

I actually looked at this trade and decided against it because I did not think it was a valid pin bar.

On my chart it did not open and close within the previous barā€¦

But the previous bar is very very small, so is this a case where you would ignore that requirement?

I thought about it a few times already:
On 5M charts my SR line would be whatever mt4 supplies me with, but for a daily, it must be thicker!
Looking at attached pair, depending where i let the hair line through it changes the setup significantly.

How you do you think guys?
How thick it should be on 4H, 1D, 1W etcā€¦


Is looking for a short around the resistance area the correct way to be playing this? Or not playing it?
GBP/CAD 4HR


Im watching this as well.

GBP/USD is currently playing with a resistance level to set us up for a short.

Hello there,

I am closely watching AUDNZD D1, it looks like it was slowly approaching a strong resistance line and a BRN of around 1.3.
I will be looking to go short on a solid PA signal, in my opinion the pair looks like it was ranging and being at the top of itā€™s range right now. Please spare me a minute and correct me if Iā€™m wrong.

Fil.


Hi guys,

Iā€™m fairly new to forex but have been following this thread for a few weeks now. Although, most of it was spent reading the first 50 odd pages. I spend a bit of time at work reading through these pages (shhh!) and start to feel confident that I understand whats going on. Unfortunately, I go home and look at the charts and donā€™t see anything that looks like a good setup. This has been happening for at least the last two weeks for me. I get impatient and end up taking some less than A+ trades and get stopped out. Then I come to work and read about people seeing these great setups.

I donā€™t get it. Am I just too impatient? Or just not seeing the opportunities? Does it take a few weeks for a good PA setup to appear? Is this just typical newbie stuff and I just need to persist?

On another note. This thread is fantastic and I really like this style of trading (if only I could do it). I love the simplicity of it and the longer time frame. It suits me and thats why I want to stick with it. I just get a bit frustratedā€¦ Perhaps I should look into Jonathonā€™s course???

read the thread, take notes, read the thread, take notes, repeat and only demo trade until profitable and think about joining the course, but in any course you will have read take notes, read take notes. there is lots here to get right 1st to speed up the learning in the course

Hi Fil,

I am watching the same level.

Cheers


Hi Xanh,

I am not Johnathon but my 2cents on this as follows :

1 - I am not sure what time zone you are in but as a start the best is to watch Daily Charts (without any indicators) and watch at NY close.

2- Watch for few trading patterns taught in this thread i.e. Pin Bar Setup, BUEB/BEEB and 2 Bare reversal.

3 - Believe me , Please donot rush. I have been in this forex from past 4 years and never made that % of success as after reading the thread and joining FSO. I am not saying I never use to get good trades earlier but I use to get bad trades alot. Trading only A+ setups keeps your capital save and let you be in the market.

4 - You can learn alot from this thread and no doubt ForexSchoolOnline is really good.

5 - My experience , NEVER RUSH ā€¦ if you think you will miss the boat , no you will not but yes We do sink because we tried to catch every boat whether good or bad. So wait and watch , read the charts again and again . Read articles on Johnathonā€™s website again and again about Pinbar setup ets and You will start seeing setups.

And the best thing post your charts here which you think are good setups and being so many members on this thread , they will guide/point you in the right direction.

Cheers Mate and Keep your capital safe ā€¦ (You will remain in the market)

HA

Hi xanh, and welcome!

I feel you on the frustration bit, and I want to tell you that it is normal, and that there is remedy for it. You can (and will learn to) be consistently profitable. I am glad you are already doing your chart time, and are reading through the thread (and making notes I hope). Please do not rush it; gains follow a good mindset+method combination.

First off, I want to ensure weā€™re on the same page. Are you using New-York close charts? [such as these here] If not, you will not see like setups (this is key!)

As you follow the thread, are you checking against your charts for the same setups? (i.e are you active in your learning? counter-checking the setup and seeing why it worked/did not work?

If you do have the cash to spare, I strongly recommend Johnathonā€™s course. Because (as I learned the hard way), either way, you end up paying for the ā€˜educationā€™ [ skul of BabyPips/FSO or skul of hard-knocks, so to speak ]. Johnathon covers both the method (advanced trading course) and the mindset (advanced psychology course), in addition to the forums where live setups and trade management and (everything else that pertains to trading) are freely discussed.

That said, the info that Johnathon and Bryce and many others have shared in here is great enough to start being profitable. Take your time; actively learn the method, and post up your charts here often, it will help you more than you can imagine. And you [B]will[/B] be profitable as time goes on :slight_smile:

Cheers!

Hi hemant! Saw yours after posting mine, good stuff! :slight_smile:

Anyone looking to short GbpAud?

I was looking to go short at that next level at 1.511 ish

Cool. But take a look this is daily support as well. Still not a good trade?

It seams a lot of people in here are looking for the really hard and complicated ones and missing all the easy and simple ones. This was a nice setup on the EURUSD 4hr charts and the same as the last couple of A+ trades have not been posted by general public in here.

I hope some managed to get aboard.

EURUSD 4HR TRADE


Johnathon

I took this but got shaken out by the third candle (bullish pinbar) from then entry (pinbar) candle. so when it went down a bit i closed it immediately. then it just plummeted down really hard.

Is it correct that i stay in the trade no matter what until i get stopped out where my stop is?

The pin bar does not open and close with the previous bar so how does this qualify?

Also if you are looking to sell are you watching the ask chart or bid chart?