I think Brice or Dudest mentioned it once in the past: if you are unsure, hesitating or not entirely convinced with mixed gut feelings, [I]this might be the signal to avoid it[/I].
We all know it might work as well, but on the other hand why enter a trade we are unsure of (say 50-70% chances) lowering our win% while we can maximise probability and enter the ones we “are 90%+ sure of” only.
Fil.
Hello everyone,
Review on some possible good opportunities. I will not attach charts because there are quiet few of them:
EURGBP: - Major trend is down
- On 4H chart: 2 Bar reverse signal , Resistance line @ 0.7873 which is also at the
monthly pivot S2 line. Possible 60 pips there if we sell.
EURCAD: 4H chart: Trend is down, there is a retrace to 1.2450, which holds S/R line as well &
weekly pivot R1 level with engulfing to sell.
Daily chart has a Piercing candle pattern to sell too.
CADCHF: 4H chart
Trend is up, there is a retrace picked up with BUEB o S/R line
Daily chart shows also a Piercing bullish pattern. There is some 45 pips in pot.
CHFJPY: 4H chart:
- Trend is down
- There is a retrace rejected on S/R line & weekly pivot R1 line.
- Inside bar to sell, stochastic is oversold as well.
GBPCHF: 4H chart:
- Trend is up, there is a retrace ended up with 2 Bar revese signal at S/R line &
monthly pivot R2 line.
I will highly appreciate your comments.
Wafik
Sorry in advance I do not have New york close charts as yet, with that said.
USD/JPY BUEB on Daliy with multi support at 78 Resistance 80 Any thoughts?
Hi Wafik,
There are basically no trades for me at this point, no EBs on my charts, besides all of your signs are last intraday candles so it invalidates them for me.
There are 2BRs but unfortunately playing straight into an S/R zone on my charts.
Fil.
Guys,
Weekly TF of eur usd has produced a nice engulfing bullish candle, seems we are changing long term direction.
As well, Johnathan, i have been following this thread for a while now, and some simple questions come to me after a series of wins and a few losses. Just would like to get clarification on this:
looks nice, @ Peppers as well. pity its fri/mon signal.
@cyber are you saying Peppers shows the same daily chart I posted?
I know it’s a Friday buy signal. My thoughts on Fridays: If it is the USD agaisnt a real major (Euro,Yen & possibly AUD CAD) then I will trade it, if traders are buying or selling the USD on Friday aft, then for me it is showing risk on or off in the general market. Others may have a different view though.
Look at the Weekly signal on this USDJPY also
It’s a daily Mon/Fri signal, it’s ok. I think what we were told is to be wary of intraday Mon/Fri signals.
Correct me if I’m wrong.
Btw. Does it fully engulf previous candle? Doesn’t look like from Fergie’s chart…
Fil.
it does engulf on the daily, actually it engulfs about 5 bars, on the weekly it’s a pin bar…but these are not new york close, you need to check your own charts for new york close
Your USDJPy daily looks like NY Close so it may be? Why don’t u compare a demo NY chart with your pairs?
It does not engulf anything on my chart and from looking at your chart it doesn’t there either unless I’m missing something…
ok, to clarify it, this is how it looks on NY close.
it wouldnt be a pure engulfing candle, but the setup overall looks appealing to me - first the pinbar hitting the res line, then the large bull candle - looks like a good reversal. But we are going to be against the trend /but this pair seem to be ranging now/.
Lots of what i interpret here is speculation, and far from an A+ opportunity.
After looking deeper, i ask myself too many questions which may naturally mean it could be a gamble rather then well considered trade.
Johnathon, give us please some interpretation on it, i fell like a drunken rabbit in a fog today.
Size of a pinbar on W1 looks small comparing to the ones in past - eg. Jan 2011. When analising PA, i tend to look on a behaviour of pair. And since we really trade all of them, i feel it is a part of good decision.
Lets give a voice to the Man.
Please show chart of question 1/2 and what you mean so I can better understand what exactly you are asking.
Yes trader Fridays. Monday if I have daily setup will set order Monday morning like normal. Daily setups are made up of every session and when you enter that candle will also be made of every session so when you enter does not matter. Do not trade intra-day monday as Asian sessions is very quiet until UK/US start for the week.
Sometimes trades don’t work out however the EURGBP is not one I would put in that basket. The BEEB was not at a swing high like we need. This is the first check point on my trade rules. It is formed at correct swing? then Is it formed at good level. So I would never have got to the level question because it was not where we needed it.
Johnathon
Okay I am only giving my view because you asked.
You can go on trading as you say “it wouldnt be a pure engulfing candle” but in the end you will end up like all the other PA traders who get flogged because they trade “sort of” or nearly setups.
To be honest there is no need to trade almost setups lately as great signals have been plentiful.
As you have said there is a lot of questions. This does not mean it wont go higher but it does mean it is not a trade that has a strong edge in your favour.
On the weekly the pin is one of the smallest candles on the whole chart. You can look at this either as it is not a great trade or others may look and say it represents a super chance for a risk reward because of the very small stop.
On the daily price has closed beneath a key resistance and until it breaks I will be watching this one and hoping like hell t breaks higher for everyone in here playing it. Once it breaks I will then look to join you all.
Safe trading,
Johnathon
i will look at a pepperstone demo account
Why is this not a daily BUEB?, it is coming off a swing low and BRN of 78, close in top 3rd, what I am I missing?
Read Johnathon’s article at his site about engulfing bars and u will clearly see what u miss.
You are presuming I have not. This is why I am asking what am I missing?
1: Must be large and obvious,
2: Must form at a swing point
3: Engluf previous bar & close in top 3rd of trade direction
Fergie, as the name states - it must engulf the previous candle to call it “engulfing” it would engulf previous candle if:
Below (1) engulfing (2) not engulfing even though in the second example the second candle is physically larger than the first one. Hope it’s clearly visible on the image… sorry for the quality 
Fil.
Hey Filipl, thanks…OK the tail is slightly above, ok not engulfing. The bar is quite a bit bigger than other bars and bouncing of the BRN…anyway thanks I see what I missed now from your explanation
Not a problem, happy to help buddy.
I remember being in the same place as you are now, few weeks ago.
This thread and people in here thought me a lot, it’s nice to pay it back at least partially.
In case you were looking for more examples, here they are:
301 Moved Permanently - Spongybob
301 Moved Permanently - Dudest
301 Moved Permanently - Jonathon
Fil.
