Forex Price Action

[bygjj]

remember the criteria for a valid pin bar, wick must be at least three times the size of the real body. i marked my s/r lines on the daily and they are exactly the same as yours. even considering, if the pin bar was large and met all the criteria for entry, after such i large bullish candle i would still be hesitant

Thanks pal for reminding me abt PB. This is definitely invalid. And you may be right this might be an example of a falling axe.

[toyogo00]

Hi all,

AUDNZD has a 2BR formed at the majar support -> resistance line on Daily chart. Today is Friday, there is a high possibility that the weekly chart may form a pin bar. Pls comment if this is an A+ setup!

Regards,
Toyogo

[FaRS]

Hi all,

AUDNZD has a 2BR formed at the majar support -> resistance line on Daily chart. Today is Friday, there is a high possibility that the weekly chart may form a pin bar. Pls comment if this is an A+ setup!

Hei there
Regards,
Toyogo

Hei there!

I think 2BR should be almost the same size, but these two bars look way to different.

Richard

[toyogo00]

Hei there!
I think 2BR should be almost the same size, but these two bars look way to different.
Richard

Hi Richard,

I found this 2BR here: The 2 Bar Reversal. It never says that both bars should be almost the same size!

“For a bearish 2 Bar Reversal the[B] first bar must go up and close near the sessions highs.[/B] This makes the rest of the market think that particular pair is breaking out higher, but this is a lie. When the second bar opens it whips back lower and fakes out the market, taking traders stops along the way. [B]The second bar must then close near the session’s lows and preferably below the first bars open[/B].”

Regards,
Toyogo

[FaRS]

Hi Richard,

I found this 2BR here: The 2 Bar Reversal. It never says that both bars should be almost the same size!

“For a bearish 2 Bar Reversal the[B] first bar must go up and close near the sessions highs.[/B] This makes the rest of the market think that particular pair is breaking out higher, but this is a lie. When the second bar opens it whips back lower and fakes out the market, taking traders stops along the way. [B]The second bar must then close near the session’s lows and preferably below the first bars open[/B].”

Regards,
Toyogo

Well, u just confirmed me. I guess we get this idea totally different.

[wafikjabra]

Is this a logic concept to avoid / compensate for a lost trade or is it a gamble?

I attach eur/cad 4H chart only as a rough example to show the scenario I am talking about:

1. Trend is going down
2. There was a retrace with a pinbar signal to sell (suppose it is a good pibar signal & not as the one shown in chart).
3. Sell was placed at 1.2377, SL at 1.2439, TP at 1.2313

Suppose price didn’t go our way & there was a change of trend taking place. Wouldn’t be wise to place an order to buy at opposite side with target = number of pips risked in initial order?? i.e. if we risking
62 pips (in initial order), then place a buy order at 1.2439 with TP at 1.2501. So if price went against us, we can cover the initial lost trade.

Will highly appreciate your comments, thanks

[FaRS]

@wafikjabra

Is this a logic concept to avoid / compensate for a lost trade or is it a gamble?

I attach eur/cad 4H chart only as a rough example to show the scenario I am talking about:

1. Trend is going down
2. There was a retrace with a pinbar signal to sell (suppose it is a good pibar signal & not as the one shown in chart).
3. Sell was placed at 1.2377, SL at 1.2439, TP at 1.2313

Suppose price didn’t go our way & there was a change of trend taking place. Wouldn’t be wise to place an order to buy at opposite side with target = number of pips risked in initial order?? i.e. if we risking
62 pips (in initial order), then place a buy order at 1.2439 with TP at 1.2501. So if price went against us, we can cover the initial lost trade.

Will highly appreciate your comments, thanks

We are trading here from swing low/high or waiting for a pullback with a valid PA signal. And I wouldn’t suggest trading agaisnt the trend. If u go long there (according to the blue line) u would be trading straight into the resistance area.

I would wait for PA at the red marked area to go short.

EUR/CAD D1

Safe trading,
Richard

[wildanz90]

hello dudest,

hi dudest, i want a ask wether this trade is the A++ setup or not? i have included the explaination about considering this trade. can you help me ?

eurusd H4 TF

best regards,
willy

[Kimonz]

hello dudest,

hi dudest, i want a ask wether this trade is the A++ setup or not? i have included the explaination about considering this trade. can you help me ?

eurusd H4 TF
<img src=“301 Moved Permanently”/>
best regards,
willy

Yes if it breaks to the downside

[toyogo00]

@wildanz90

hello dudest,

hi dudest, i want a ask wether this trade is the A++ setup or not? i have included the explaination about considering this trade. can you help me ?

eurusd H4 TF


best regards,
willy

Hi Willy,

I think it is an A+ setup - down trend continuous from the swing high resistance with BEEB. I will queue with sell stop at the low of BEEB candle.

Regards,
Toyogo

[wafikjabra]

Hi Richard,

I don’t think you understood my question, maybe I wasn’t very clear!! No doubt we will be placing an order with the trend, at a R/S level & with PA signal (this is the main initial order). If target is hit, we are fine & have no problems… but if things go against us (let’s say trend changes at this turning swing/point) & forms a new trend in opposite direction, by placing a reserve order in opposite direction limited to amount of risk (of initial order) maybe will save this loss if trend change completely to the other side!!! If things go right with the initial order (that is going anyway with the trend), then will obviously cancel then the reserve order (placed at opposite side).

[cyberbob222]

In my opinion, this long up candle looks very strong, and to have a proper downtrend signal i would wait for something more convincing. And i found it on eur/gbp, nice and long bearish candle. sorrry cant post a chart right now.

enjoy the weekend guys.

Hi Willy,

I think it is an A+ setup - down trend continuous from the swing high resistance with BEEB. I will queue with sell stop at the low of BEEB candle.

Regards,
Toyogo

[dudest]

Hi Dudest,

I’ve posted here which is similar to your chart: 301 Moved Permanently I am looking for anyone to comment about the conflicting signal between 4hrly (bearish) and daily (bullish). My take is daily as I believe the higher TF is more reliable! What do you think?

Regards,
Toyogo

Hi Toyogo,

My take on ‘conflicting’ signals on H4 and D1 timeframe:

I’d treat each timeframe separately. That is: if two PA’s appear on 2 different timeframes, I’d [B]pick the one I liked best[/B] ( A+ wise) and [B]manage it fully on that timeframe[/B]. If I’s still not sure/hesitant, I’d leave both and look for other PA elsewhere.

Cheers

[dudest]

What do people make of the [B]BEEBs[/B] appearing in [B]CHFJPY, EURJPY and GBPJPY[/B]?
[ formed at the close of the last H4 session ]

[Mercurio]

What do people make of the [B]BEEBs[/B] appearing in [B]CHFJPY, EURJPY and GBPJPY[/B]?
[ formed at the close of the last H4 session ]

looks to me that they are all testing resistance at fairly serious levels. I’d be cautious about them till there was a good clear indication of direction

[garryl33]

hi all,
im just starting out on the pa,s,id just like to ask does anyone have an opinion on the aud/cad.
thanks

[ukmartin]

Hi Gary

not sure what you want to know, but can’t see any price action on AUD/CAD

Martin

[fergiebom]

USD/JPY, Daily & 4hr, resistance held multiple times, it is on downtrend, so you would be taking a reversal signal although with mulitple bounces of the 78 area…thoughts?

[FaRS]

What do people make of the [B]BEEBs[/B] appearing in [B]CHFJPY, EURJPY and GBPJPY[/B]?
[ formed at the close of the last H4 session ]

I wouldn’t have touched them, because the bullish bar was too big compairing to BEEBs.

Richard

[Jinz]

I wouldn’t have touched them, because the bullish bar was too big compairing to BEEBs.

Richard

Sell Yen and Dollar againts all currencies