Forex Price Action

[dudest]

edit: remembered something else: if the signal was on a lower timeframe ( e.g H4 ), I wait for the higher timeframe candle (e.g H8, D1) to close to see if PA signal that’s closing below support area will be formed. Last edited by dudest; Today at 11:03 PM.

Hey dudest …thats cool… I like that… am gonna add it to my trading plan… thanks
cheers pw

ps… by formed … do you mean comfirmed ? or?

I mean: whether on the higher timeframe a PA signal will ALSO be formed that closes beyond the trouble area.

For example: usually you can find that a pinbar on H4 ( that gets confirmed on H4 by price breaking its high/low ) ends up being a pinbar or engulfing bar in a higher timeframe (e.g D1)

[dudest]

I’m also in US Pacific time. Looking at the charts when you get off work for the day should not present any problems for you. [B]There might be a few trades that you miss because they just take off right away, but generally, after NY close the market goes into a quiet period for a couple of hours, and many of the daily setups will still be there for you[/B] at 5:00 or 6:00, whenever you get off work.

Very true!..

[dudest]

@fxsrikanth

thank u…so at that time we do not bother about that line…?

i have marked…it that u r telling…?

Sorry srikanth, i don’t get your question.

@EURGBP H4 2BR: that was essentially a heads up (to whoever’s interested) [ my reasoning below ]

[fxsrikanth]

i am asking about my doubt…which u clarified…

b bearish PA signal after pullback …got it?

bearish signal+PA-----short after breaking the low of PA signals…

there what about the support line?

[Aariff]

Though i have started following Price action only from past week. i don’t see many trades occuring in daily chart than H4.

atleast for learning purpose i need to learn in H4, so that more trade, more setup can be seen. Daily chart…less setup…less learning i guess…

Though i have plans only to do my live trading in Daily chart only.

Aariff

I’m also in US Pacific time. Looking at the charts when you get off work for the day should not present any problems for you. There might be a few trades that you miss because they just take off right away, but generally, after NY close the market goes into a quiet period for a couple of hours, and many of the daily setups will still be there for you at 5:00 or 6:00, whenever you get off work.

[immvp]

@dudest

Sorry srikanth, i don’t get your question.

@EURGBP H4 2BR: that was essentially a heads up (to whoever’s interested) [ my reasoning below ]

Nice pin forming on Daily but there is a 2BR on Weekly chart. How do we trade this conflicting signal?

[Aariff]

Conflicting signal?

Both are signals for taking Long…I am not sure about trend…i am out of my charts.

Aariff

Nice pin forming on Daily but there is a 2BR on Weekly chart. How do we trade this conflicting signal?

[Jinz]

Anybody on this GBPUSD?

[Aariff]

Yesterday we discussed about this trade opportunity. Experts adviced me that the trade opportunity is against the trend.

Anybody on this GBPUSD?

[Aariff]

EURGBP Daily has triggered Pin Bar

1. Pin bar
2. Swing Low
3. Against Weekly and Monthly Trend

I am testing it in demo for a target of 40 pips. It is my first demo trade using PA.

[walker]

Anybody on this GBPUSD?

Agree with Aariff, looked at it myself and passed for same reason… hope it works out for you if your in…

Geez thats a pretty looking avatar, neally as pretty as mine :18: :18: :18:

[Forex_School_Online]

@fxsrikanth

Hallo Mr.Johnathon…thanks for ur concern…

if u dont mind can i get clarification for this…?

for example…as i showed in the picture…if we find a bearish PA signal which is not closed under that line…what do we need to do?

can i send my doubts…to you directly…because…this may cause some sort of disturbance…if not i will post here itself…thank u…

i want every one’s comments and answers…please comment on this…so that it will be very helpfull for all new traders…thank u…

Hello Sriknath,

if we get a bearish signal that closes above a key support level we do not trade it. We let it go and move onto the next signal. We do not want to be trading into key areas. The same goes for bullish setup trading into resistance. We let it go. Keep in mind we want to be trading away from key areas and not into them.

See my charts below for explanation: Sorry about rubbish pic below but you get the idea.

Johnathon

[Forex_School_Online]

@Aariff

EURGBP Daily has triggered Pin Bar

1. Pin bar
2. Swing Low
3. Against Weekly and Monthly Trend

I am testing it in demo for a target of 40 pips. It is my first demo trade using PA.

It’s a pity this did not close more bullish like it was looking like doing. Now because it has that wick on the upper side it shows that the the bulls were not fully in control when this Pin closed. If you draw a line from the top of the pin you can see the area that price rejected before moving lower to finish of the daily highs.

A strong close here would have told us so much more and shown that bulls definitely in control. As it is this is nice area to go long with a Pin Bar and if breaks higher you may be in the game with a nice trade. Time will tell…

EURGBP DAILY CHART (The line in the chart below is not a support/resistance line but there to highlight the area the top of the pin rejected)

[Forex_School_Online]

Did anyone manage to catch any of the engulfing bars on the Yens crosses last week? Nearly every JPY pair formed one.

Below is CADJPY as example.

CADJPY DAILY CHART

I can’t remember who posted it in here but the GBPJPY weekly trade for that person has been triggered and price fallen into the level we thought it would straight away.

GBPJPY WEEKLY CHART

Safe trading all,

Johnathon

[Aariff]

So Mr.J…if the close of the PIN bar would have happened above the line area then it would have been a good bullish signal. I guess this is what you meant to say.

Please let me know if i am not correct.

Anyhow it is a first demo trade for me…i will take this as a lesson.

Aariff

@Forex_School_Online

It’s a pity this did not close more bullish like it was looking like doing. Now because it has that wick on the upper side it shows that the the bulls were not fully in control when this Pin closed. If you draw a line from the top of the pin you can see the area that price rejected before moving lower to finish of the daily highs.

A strong close here would have told us so much more and shown that bulls definitely in control. As it is this is nice area to go long with a Pin Bar and if breaks higher you may be in the game with a nice trade. Time will tell…

EURGBP DAILY CHART (The line in the chart below is not a support/resistance line but there to highlight the area the top of the pin rejected)

[Aariff]

My eyes are catching only pin Bar…i need to train for other signals also

Aariff

@Forex_School_Online

Did anyone manage to catch any of the engulfing bars on the Yens crosses last week? Nearly every JPY pair formed one.

Below is CADJPY as example.

CADJPY DAILY CHART

I can’t remember who posted it in here but the GBPJPY weekly trade for that person has been triggered and price fallen into the level we thought it would straight away.

GBPJPY WEEKLY CHART

Safe trading all,

Johnathon

[Jinz]

Yesterday we discussed about this trade opportunity. Experts adviced me that the trade opportunity is against the trend.

That is what PB really is.

[dudest]

Yesterday we discussed about this trade opportunity. Experts adviced me that the trade opportunity is against the trend.

Hi Aariff,

Don’t not take a trade because someone said not too (sorry for the double negatives)
Opinions given here are just that, opinions, not trading advice. You could be right, and me wrong.
Only take/not take a trade when [B]you yourself are convinced[/B] of the right thing to do (coz only you will face the consequences either way)

Cheers!

[dudest]

@Aariff

EURGBP Daily has triggered Pin Bar

1. Pin bar
2. Swing Low
3. Against Weekly and Monthly Trend

I am testing it in demo for a target of 40 pips. It is my first demo trade using PA.

Good on you for starting on taking trades using PA!

A couple of things I’d like to highlight though:

1. Any long PA signal on the EURGBP Daily is WITH the trend, not against.

-> Look to the left, the trend is up. The down bars before your highlighted signal are the pullback. These are the classic trades that Johnathon teaches, i.e: trend -> pullback -> PA signal -> rejoin the trend

2. When trading a signal in a given timeframe, do not analyse other timeframes (!) It is a slippery slope (will end up scaring you and cause you to over-trade). Analyse and manage the trade fully in the timeframe in which you’ve seen the PA signal.

All the best with your trade! ( I’m gunning for it to go up up up! too )

[dudest]

@Forex_School_Online

Did anyone manage to catch any of the engulfing bars on the Yens crosses last week? Nearly every JPY pair formed one.

Below is CADJPY as example.

CADJPY DAILY CHART

I can’t remember who posted it in here but the GBPJPY weekly trade for that person has been triggered and price fallen into the level we thought it would straight away.

GBPJPY WEEKLY CHART

Safe trading all,

Johnathon

Hi there sensei!

I had marked my charts in a way that the engulfing bars were sitting above support, so I let them all go. (same scenario with the (offtopic) evening star that Njokie posted for EURUSD around the same time)

Have since re-marked my charts

Cheers