sorry have been bit quite lately. Super busy. Tonight I will try and get in here and comment on recent posts and post a few things.
Just to touch on the news things. I have discussed this a lot in this thread. I am not saying one thing and doing another. I am also not getting beginners to do one things and telling other people other things.
The only thing I do not trade around is the NFP. That is it.
The price tells us everything. I would not have a clue what is going on in the news and I never look at calendars.
I donāt need to look at anything bar price. If tsome news comes out and price goes one way or another I can see this on my chart. I can also see what is happening and what is likely to happen.
People then will say things like āwhat is you enter into a trade and then news come outā?. If there is big news coming the market will go quiet and will produce small cadles which we donāt trade.
Other time when news comes out you will see that price actually hinted as to what was going to happen anyway.
What a lot of people fail to realise is by the time the news is released it has already been factored into the price.
What we are doing is watching charts and learning to read traders behaviours by what they do in their trading. We can see what they do by looking at our charts and whether price goes up or down etc
Learn to trade price and then have faith in your method. Once you learn how price moves you will be able to see the ānewsā in price by how price reacts at certain areas on he charts.
Hi, I took PB/BUEB on AUD/USD 4H a few hours ago, as dudest posted, thereās valid support at daily chart and also RN 1.02. But now it seems to me quite risky because itās against quite big downward move but on the other hand the probability of retracing up is getting higher, isnāt it?
I have been a loyal follower since you were a newbie,regarding the AUDCAD. i am looking to go short on that RN,since there is a fakey set up that has a potential of braking that support.
For me this is clearly a downtrending market based on this Time Frame (TF).And I also see an inside bar on that black candle which is likely a continuation on the downtrend.
My view:
Short on the support line
Place a stop on that Entry
Take any profit based on RR.best to take 1:2.5
Yeah you are right there is a resistance, I noticed that too, but IMO the support line I have marked is stronger than this resistance line and if we look at other time frames, then the trend is bullish on D1, W1 time frames and on H4 itās rangingā¦ Altho we arenāt looking at other time frames if we already chose one (in this case H4), but the momentum is on bulls side.
Wouldnāt really say there is momentum one way or another on NU 4hr chart at moment.
More ranging with price at the bottom of the range. The problem with ranging markets is they can tend to jump all over the place and on occasions respect even the lightest of levels. The best way to play is at either the high or the low which you are doing here so higher prices are def not out of the question here. Going to need to see a strong break of around 0.8235 (grey line on my chart) and if it can you may be onto a nice trade.
[B]
Fair enough. Thanks for sharing.
I have to admit I learn from your posts quite a lot.
Traders!
Do we consider below last two bars on USD/CAD D1 a bearish 2BR? Or they need to be +/- the same size?
Anyone has marked similar levels?
I noticed itās playing straight into 0.98ā¦
So much thanks for your replay, I really appreciate! Iām gonna keep that in mind (the thing with ranging markets). P.S. That momentum, which I mentioned, was meant on Daily and W1 charts.
Filipl, Iām glad I can help you somehow, but bear in mind, that Iām still learning my self. And Iām trying the best.
I got exactly the same level marked on my chart. For me 2BR more or less should look the same size and they have to stick out more than these 2, so this one is out of the question. I would prefer to see a stronger move up (a larger bar than this one) and then a big bearish momentum right after that move up, which would close a little bit below the previous bulls candle open, so these things would indicate, that bears are back into the game.
What the weekly/daily is doing is going to have zero bearing on your 4hr trade. Think of it like this; in only 1 weekly candle you are going to have 30 x 4hr candles. That means you could have a whole massive trend move and all you would see is one candle on the weekly chart.
Basically what I am getting at is you will have trends in between trends and looking to what happening on a daily/weekly chart for the trend will often put you on the wrong side of obvious trends.
Keep it simple and get on the correct side of the next swing.
