Hi!
My reasons are not as deep/insightful as Bryce’s 
but I (was & still I’m) looking for shorts on NZDUSD H4
-> H4 recent momentum is downward
-> Price has broken a key support ( key because it has held as support/resistance several times recently )
-> Price has pulled back to the key s/r zone. Hoping it holds as resistance and gives us a nice bearish PA to confirm entry
Cheers!
Hi Dudest,
I think we shall discuss whether the setup that posted here is A+ or not. For AUDJPY, I think it is a valid A+ setup. I compare it with the video of A+ sample that produced by Johnathon here: Trading the Forex Bullish Engulfing Bar Explained
With that, I’ve entered long @80.60, SL @80.05, T1 @80.20, T2 @81.90. Plan your trade, trade your plan!
Regards,
Toyogo
Good on you mate for taking responsibility for your trades!
IMO, the setup is A+ as well. It’s the traffic on the left that scared me off…
I think price has a chance of reaching your T1 (after possibly stalling somewhere near 81.00 BRN).
It’s anyone’s guess, but i definitely wish it goes up for you!
Cheers 
Hi all,
What opinion is out there for the USDCAD H4 chart with 20 minutes until candle close?
Definitely acting off a previous level of resistance turned support. Johnathon always talks about big bold candles so this BUEB fits the bill, my concern is always my interpretation of the ‘trend’, up trend in the very short term, drop back to a D1 chart and it looks down trend… zoom out and longer term is up again…
Been watching this too
Looks like it’s hitting a swing point so I think I’d be looking for a change of direction and going for a short
Martin
Hi all,
I have entered these two trades & lost. Can someone please tell me where I went wrong, Thanks
as they say in babypips school it’s like trying to catch a falling knife. i know these pairs have been kind of ranging but in my limited experience when the market moves sharply like that it’s better to wait for it to catch it’s breath instead of trying to jump in right away. after getting burned the same way a few months ago, when i see a sudden drop or spike like this i now wait for a retrace or a continuation before looking for a trade
Hei there!
What do you make out of this one?
NZD/USD H4
Seems like the support line has been broken and a huge BEEB has formed.
Richard
Hei dudest!
No I didn’t, I drew the support line more accurate and it actually looked like this:
AUD/JPY H4
Okey, it formed BUEB, but not at the support line, the price was almost like nowhere. So for me there was no trade.
As the Johanthon said "first u must draw the lines (res/sup) and only THEN u look for valid PA signal, otherwise u may burn. This example shows it pretty clear.
Your opinion about this dudest?
Richard
They’re all counter-trend trades. remember; the trend is your friend! (don’t go against it!)
the bearish engulfing bar on the other had would be a good PA signal if it was at a S/R line.
PJ
I’m glad that u are back Johnathon!
P.S. At first I was like WTF, when I saw that Johnathon was banned, but now it’s sorted out and I’m very happy for that!
Cheers,
Richard
good idea, especially since the daily bias is bearish
Hi GG!
My thoughts:
-> W.r.t trend: only concern is the recent trend of the timeframe your on; no switching timeframes
-> The big bold bar is more of a continuation signal, not a ‘buy’ signal.
Johnathon always said: BUY LOW, SELL HIGH. Taking this bar would be BUYING HIGH
Waiting on it to come to resistance and show what it’ll do
Hi Wafik,
I guess a good starting point would be to ask another question: On what basis did you take the trades? Did you take them in accordance to your trading plan?
If you took them in accordance to your plan, then don’t worry about them. We never know which will be winners and losers. Profitability is over a large size of trades. So if you’re following the plan and being picky in choice of setups, you will be profitable. Don’t get hang up over a single trade (whether a winner or loser)
PS: Did you split the risk (seeing you took two JPY trades)?
1 would say that bar on 29533 attachment was not big enough compared to the down bars prior, plus you entered on the 1st sign of support, you did not wait to see if that support area truely was support.
On a side point you entered a long on commod currency when the flight to the US$ was picking up and setting up. Ok this is out of the realm of PA, but it does not harm to know if the market is risk on or risk off and the US$ agaisnt commod currencies, you can see this some what. Look at USD/CAD and USD/AU$ at the time you took this trade
Haha I was so incensed about Johnathon being banned that I immediately signed the petition without reading through to the end of the thread, only to find out a page later that he was back! Glad to see that sense has been applied at last its ridiculous that it even happened in the first place.
Hi Dudest & Fergiebom,
Thanks a lot for your remarks. I have certainly made a bad choice with these two trades. I should have looked also at the higher time frame to see direction of the trend. I try to stick to the rules I learn from this thread but seems lot of practise is required.
I was reading at same time the book “Price Action Reversals” & there was an article that might also refer to the situation of AUDJPY 4H
Four things are needed for a major trend reversal:
Hi wafilkjabra,
For CADJPY, the entry point should be @77.12-77.18 (high of BUEB) which it was never triggered. I was wandering why you enter the trade?
For AUDJPY, I’ve entered the trade @80.55-80.60 (high of BUEB). However, as what Dudest has pointed out here: http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action-2.html#post377170 that “traffic on the left that scared me off”.
When the price moved lower than low of BUEB2, I didn’t feel good about the PA for this trade, thus I managed to exit the trade with -10pips loss. see chart below:
Hope this help!
Regards,
Toyogo
Why enter long on a currency pair that is strongly bearish? if you look for PA to go short (the trend is your friend!!), there is a MASSIVE bearish engulfing bar that follows your BUEB2… if you would have entered short on this pair at the break of this BEEB, where would you be right now?
food for thought,
regards,
PJ
Glad to see you back Johnathon, seems common sense prevailed …
pw
