Forex Price Action

The support level doesn’t look too strong to me as it was sliced through a couple of times recently and now the entry point is close to strong resistance just above it.

Russ

AJ --> Anyone taking this nice H4 pinbar?
Reasons to trade:

  1. Off previous key support
  2. Well-shaped pin bar (sticking out nicely from previous candle, open&close within previous candle, nice length)
  3. Lined-up with fib50
  4. Bearish divergence --> not shown here, but u can check by opening up stochastics


Hi peeps,

BIG 2-bar reversal bars on OIL (bullish) and USDCAD (bearish)

NB: USDCAD and OIL are correlated, watch not to overload on risk.

Cheers

Charts:




How far do you think the usdcad can go down? That low on the 14th is not far off some really long term lows.

Russ

Hi Zaku, thanks for your kind words :slight_smile:

For the AUDCAD, i will only go long if a BIG bullish PA forms at that level ( preferably on H8/D1 )
If the support is broken, I will wait for a retrace to the same level and BIG bearish PA in order to go short.

Mr J. doesn’t teach the ‘fakey’ setup ( I first read it over at Niall’s and never quite got it :confused: ). But I have understood and found an edge in Mr J’s methods, and for that I am grateful. All the best to you if you choose to take it :slight_smile:

Cheers!

Pipsrgood2,

Am on pin bars only until i master them then move to other PA signals.Am still in demo.

This is the best thread ever for pure PA

this the first time Iam post in here
I’m relatively new to forex having traded a demo account
Can this be considered as a correct resistent UCAD H4


Well, this year alone, it’s twice gone into 0.9400/0.9450 region, which is some ways down from where price is now.
But even it were to only reach the most recent lows ( those around Sept 14th ) it would still be a great trade nonetheless (in my opinion)

Hi Johnathon and All,

I just finished reading first 52 pages as suggested by everyone, so i was not posting anything last week.

I will join with you all from next week for my views. It is almost weekend for forex…so i cannot do anything now.

Aariff

I noticed SpongyBob and dudest from beginning of this thread.

Spongybob already posted few winning trades and dudest was starting to recognise pattern…I guess now he should have mastered the technique and should be trading live.

Aariff

…I guess so too! :smiley:

Yes it sure looks

Hey Johnathon,

Thanks a lot for the detailed and quick explanation with videos and charts. I myself is trader for last 6 years.Moved from stocks and futures to forex about 6 months ago. Like you said I was stuck in the indicator hole and I have tried hundreds of indicators and their combinations but everything failed in one way or the other. Now I am doing successful trades with the price action idea.And kudos to you man.You rock :smiley: Thanks a ton for helping me to come out of the Indicator hole. :smiley:

Hi Aariff

I wouldnt say we have mastered anything, as our master Johnothan isnt perfect either. What we try to master is the ability to trade better quality trades and less quantity trades.

What Johno teaches is no secret, its open in here and everywhere, what isnt around is knowing how to know the difference between quality and quantity.

Congratulations on taking time to go through the first 50 pages, its going to help you allot and I look forward to seeing your posts.

Cheers

Hello All,

This is my first post here so I wanted to say hello and thank you to all the contributors.

I’m attaching a chart of D1 GBP/JPY pair on its closing on Friday. I realize that this idea would be to go against the trend (seems weak though) so maybe not the A+ like discussed here but what is your opinion on PB formed there? Is it big enough to command a short on this or would you skip? Of course, since it would go against the trend this would have to be closely managed trade to make sure that we get out in case something goes wrong. Any opinions welcome, please.


Hallo puzon and welcome!

I think that’s a nice spot, actually :slight_smile: And you have a clean visible chart too, kudos on that!

The very recent momentum has been down (1), followed by retrace (2), then rejection pinbar formed at 50.0 Fib retrace and closing under RN 127.00. An A+ trade opp in my books.

Cheers!


If you consider the 6 candles in (1) a trend reversal, then the 6 or so candles in (2) would be another reversal. I think you may be grading on a curve on this chart :wink:

Russ

Im using OANDA as my broker (demo) and the chart presents no pin set up Juicy set up Must say. Is it time difference? And How can I fix this problem so I can aligned to this thread?

Thanx

Mate read the thread seriously. Oanda isnt NY close charts, do yourself a favour and read the thread and you will find the answer to your next question as well :slight_smile:

hi Johnathon…and all…how is your trading…?

by the advices of my friends and people over here…i am trading with only one pair…eur-usd…

so if i trade only one pair i have observed that…there r no a+ trades for several weeks…am i wright?

so i want to look at more pairs…like

MAJORS------
EURUSD,
GBPUSD,
USDJPY,
USDCHF

AND …

AUDUSD,
USDCAD,
NZDUSD

AND …CURRENCY CROSSES

AUDJPY,
EURJPY,
GBPJPY,
EURCHF,
EURGBP,

AND can u guys…tell me these r enough to get 2 A+ trades for a week? or do i need to look at more pairs…?

apart from this…i need one more favor from u…

please list out the pairs you interested…mostly …coz…i found that Mr.Johnathon is looking at 30-40 pairs…

i do not need all those…but i want to know what r they…and one more point is…

i want to know which pairs r correlated …coz all correlated pairs will form nearly same kind of set ups… mostly…am i wright?

if we look at 30 pairs…in those… for example…all jpy pairs likely to move and form same kind of direction and setups?

guys…please answer to me…thank u…