Forex Price Action

[Sicnarf]

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

Which BEEB are you referring to after the BUEB2?

[Sicnarf]

Hi guys,

Could you help me identify the direction here? We all know the overall direction of this pair is bullish

But are we following the downmove here? So are we looking for a short here or long (based on the overall trend above)? This is what I still don’t get.

Also a BUEB has formed. But an S/R line is needed to go with it, is there an S/R line in this area? Could anyone help me spot it? Thx.

[walker]

Hi Sicnarf
Take a look at the daily chart…
Johnathon commented on this yesterday … post No 2597

pw

[wildanz90]

hello all,

i see a trade opportunity in AUDUSD H1.
take a look. the bearsih PA have shown from the resistance line. do you think this is an A+ setup?

i really hope from your advices guys.

best regards,
willy

[FaRS]

@Sicnarf

Hi guys,

Could you help me identify the direction here? We all know the overall direction of this pair is bullish

But are we following the downmove here? So are we looking for a short here or long (based on the overall trend above)? This is what I still don’t get.

Also a BUEB has formed. But an S/R line is needed to go with it, is there an S/R line in this area? Could anyone help me spot it? Thx.

Hi!

I liked this better:

NZD/USD H4

I’m currently in it, got my first T/P and S/L moved to BE. Can anyone comment this BEEB setup, is it valid according to this method’s rules?

Richard

[toyogo00]

@wildanz90

hello all,

i see a trade opportunity in AUDUSD H1.
take a look. the bearsih PA have shown from the resistance line. do you think this is an A+ setup?


i really hope from your advices guys.
willy

Hi Willy,
Pls try to trade 4hrly and daily here as 1hrly will be too volatile for beginner.
Regards,
Toyogo

[wafikjabra]

Hi Dudest,

How would you buy above BRN 1.5400 based on BUEB without s/r levels at bottom of this BUEB & against the trend as well. Thanks

[dudest]

@FaRS

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

Hi Rich!

Sorry if someone has already answered; below is just my opinion.
I didn’t take it because IMO the huge BEEB did not form at swing high but at swing low (around support)
Price has pulled-back now, though it’s abit shallow for me on H4, but looks deep enough on H1.
So I’ll be checking H1 in the next 20mins to see what forms on the bearish side ( would have to be really BIG to consider taking )

Cheers!

[wafikjabra]

There is no PA signal as yet on the daily AUDJPY but 2 bar reverse appears on 4H chart, can that be a good entry signal?? will appreciate your advise, Thanks

[dudest]

@FaRS

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

Hi again Rich!

@Draw S/R’s first then wait for PA: absolutely!

@BUEB + what happened: AUDJPY had been in a (not-very-clean) range and the BUEB seemed to mark return to upside. But there was always that traffic hovering on the left, and I guess the downmove won. Now looking for shorts after pullback is complete.

[dudest]

Heads up: USDZAR H4 bearish pin-gulfing bar @ swing high:

[toyogo00]

@wafikjabra

There is no PA signal as yet on the daily AUDJPY but 2 bar reverse appears on 4H chart, can that be a good entry signal?? will appreciate your advise, Thanks

Hi wafikjabra,
AUDJPY daily S/R level should be @79.50 where it has resistance turned support and I think it should be an A+ setup. The 4hrly has BUEB, the entry point is @80.10 which I’ve missed. Thus I would rather wait for daily candle to form a BUEB and trade the daily TF.
Regards,
Toyogo

[FaRS]

Hi Rich!

Sorry if someone has already answered; below is just my opinion.
I didn’t take it because IMO the huge BEEB did not form at swing high but at swing low (around support)
Price has pulled-back now, though it’s abit shallow for me on H4, but looks deep enough on H1.
So I’ll be checking H1 in the next 20mins to see what forms on the bearish side ( would have to be really BIG to consider taking )

Cheers!

Yep, have to be BIG one! Altho I’m not going lower than H4, I think it’s safer.

Richard

[toyogo00]

Heads up: USDZAR H4 bearish pin-gulfing bar @ swing high:

Hi Dudest,
USDZAR has a very large spread - 25pips! I wouldn’t recommend that as your profit will feed the broker!
Regards,
Toyogo

[FaRS]

@dudest

Heads up: USDZAR H4 bearish pin-gulfing bar @ swing high:

Wouldn’t it be trading straight into the support? Can’t post a chart, cuz I’m not home, but, IMO, the line should be drawn lower.

Richard

[FaRS]

Hi Dudest,
USDZAR has a very large spread - 25pips! I wouldn’t recommend that as your profit will feed the broker!
Regards,
Toyogo

Depends, which broker u are using. For example, AxiTrader or Pepperstone got really, really low spreads!

Richard

[cyberbob222]

Hi,

Yes, as per Johnathons teachings you want to join the trend after retrace.
AudUsd hasnt produced a valid signal yet to go short, so stay put. Check the beginning of the thread in search for candlestick formations desired to appear in order to enter: pin bars, 2bar, insidebar…

My personal suggestion is:
Treat it like a science: no signal, no entry. If you will be entering without a proper candle talking to you, it becoms a gamble.

Hope i helped.

Hi guys,

Could you help me identify the direction here? We all know the overall direction of this pair is bullish

But are we following the downmove here? So are we looking for a short here or long (based on the overall trend above)? This is what I still don’t get.

Also a BUEB has formed. But an S/R line is needed to go with it, is there an S/R line in this area? Could anyone help me spot it? Thx.

[dudest]

@Sicnarf

Hi guys,

Could you help me identify the direction here? We all know the overall direction of this pair is bullish

But are we following the downmove here? So are we looking for a short here or long (based on the overall trend above)? This is what I still don’t get.

Also a BUEB has formed. But an S/R line is needed to go with it, is there an S/R line in this area? Could anyone help me spot it? Thx.

Hi Sicnarf!

My take on AUDUSD H4 (based on how I’m understanding recent price movement):

PS: if the resistance is broken on H4, will wait for pullback on H4 to support and look for longs OR look at daily to see what forms there (in the form of longs)

[cyberbob222]

Guys,

I feel this could be A+ however, the daily candle hasnt closed yet, i entered the trade.

pros:

• within the trend
• bearish engulfing in place
• from swing high on its way to low

[wafikjabra]

Hi wafikjabra,
AUDJPY daily S/R level should be @79.50 where it has resistance turned support and I think it should be an A+ setup. The 4hrly has BUEB, the entry point is @80.10 which I’ve missed. Thus I would rather wait for daily candle to form a BUEB and trade the daily TF.
Regards,
Toyogo

Hi Toyogo,

Thank you so much for important valuable comments which certainly adds to my little confidence. I am already in this trade @80.12 & intend to take it to 81.86 with careful watch on r/s level of 80.63, Thanks once again