Forex Price Action

[russbryant]

Hey Jonathon,
How did you determine 1.2685 as the next resistance? Thanks.

Not Jonathon, but if you zoom out you will see that is the next resistance level. It is the first swing low on the previous large downward trend.

Russ

[fxsrikanth]

@dudest

the ‘cries’ part was a joke
glad to have been of help
feel free to ask away friend, the only silly question is the one not asked.

Cheers

thanks dudest…what do you say on this chart? Have u seen this ? Or do you have any other than this pair…?

ACTUALLY I DINT SEE THIS YESTERDAY…WHEN IT IS FORMING…JUST NOW I HAVE SEEN THIS…IF THIS IS NICE SETUP…THEN I MISS 1 TRADE… :34:

[OMFGWTF]

Hi OMF…
i will surely take your advice man i.e. no trading in ranging market and trade only in major areas.
One question though: How do you trade on VBRN?
Thank you

Hey mate it’s still up to you how you would trade ranges, what i said is just how i do it based on experience. Cant really say I incorporate VBRNs into my trading but what i understand about them is that they’re support/resistance levels as well that we should be aware of. Sorry don’t really pay attention to them much (maybe now i ought to).

Not Jonathon, but if you zoom out you will see that is the next resistance level. It is the first swing low on the previous large downward trend.

Russ

Hey, I see. Just checked it myself. Thanks!

thanks dudest…what do you say on this chart? Have u seen this ? Or do you have any other than this pair…?

ACTUALLY I DINT SEE THIS YESTERDAY…WHEN IT IS FORMING…JUST NOW I HAVE SEEN THIS…IF THIS IS NICE SETUP…THEN I MISS 1 TRADE… :34:

<img src=“301 Moved Permanently”/>

One of the setups i was eyeing as well but didn’t take because i was hesitating, it’s size (BUEB) for me is kinda in the middle. Not feeling it that much. But it seems to be working though. Anyone else wants to comment?

[liangko]

Hi All,

I’m not sure if anyone is on this trade as I saw no replies. Anyway, I got in and now I’m in profit moving the right direction. It is not significant yet but I decided (just for practicing purposes) to add to my position. I moved my stops accordingly and now I’m at break oven on this one. Will see what happens…

Thanks!

puzon

Hi there, actually this setup has been discussed in few pages earlier. There are some of us in this trade including myself. Yea. this setup is playing out nicely at the moment.

Cheers!

[liangko]

@fxsrikanth

thanks dudest…what do you say on this chart? Have u seen this ? Or do you have any other than this pair…?

ACTUALLY I DINT SEE THIS YESTERDAY…WHEN IT IS FORMING…JUST NOW I HAVE SEEN THIS…IF THIS IS NICE SETUP…THEN I MISS 1 TRADE… :34:

Hi there, know that you ask for dudest’s opinion but I would like to shed some light on this if you don’t mind.

IMHO, I would say that this particular pair has losing its uptrend momentum as you can see the price failed to break higher and lower high was formed after the rejection at resistance level (red line). It seems like the sellers are now taking control and the price may go lower.

Despite a BEUB has been formed at support level (turned from resistance level), it may only serve as short term support level. On top of that, the BEUB formed is relatively big but not HUGE enough to convince me to take this trade given that the BEUB has wicks at its upper and bottom which indicates more like a indecision signal to me.

With all these uncertainties, I’m not into this trade.

Hope it helps.

Thanks.

[fxsrikanth]

@liangko

hi there, know that you ask for dudest’s opinion but i would like to shed some light on this if you don’t mind.

Imho, i would say that this particular pair has losing its uptrend momentum as you can see the price failed to break higher and lower high was formed after the rejection at resistance level (red line). It seems like the sellers are now taking control and the price may go lower.

Despite a beub has been formed at support level (turned from resistance level), it may only serve as short term support level. On top of that, the beub formed is relatively big but not huge enough to convince me to take this trade given that the beub has wicks at its upper and bottom which indicates more like a indecision signal to me.

With all these uncertainties, i’m not into this trade.

Hope it helps.

Thanks.

my goodness…very nice explanation…after reading ur reply…i am with u…hmmm…

So do we trade only long positions only if it makes higher high’s and pullback’s?

[Bigd41190]

What did you use to trigger an entry and at what level did you get in? I don’t see anything.

Russ

There was a BEEB at the last swing high on the daily, I’ll post a snapshot

[dudest]

@fxsrikanth

thanks dudest…what do you say on this chart? Have u seen this ? Or do you have any other than this pair…?

ACTUALLY I DINT SEE THIS YESTERDAY…WHEN IT IS FORMING…JUST NOW I HAVE SEEN THIS…IF THIS IS NICE SETUP…THEN I MISS 1 TRADE… :34:

Hi,

I saw it, but was not convinced to take it ( no fancy explanation, just by eyeballing the chart ).

My possible considerations in chart below.

Cheers

[skysooner]

@dudest

Hi,

I saw it, but was not convinced to take it ( no fancy explanation, just by eyeballing the chart ).

My possible considerations in chart below.
Cheers

I ended up taking the AUD/CAD last night and then dropped out at BE. It likely has some room to move down, but I didn’t like the R:R in light of day.

I also closed my EUR/GBP at a loss early due to the rejection of the support level on the 4 hour candles. That one was a counter-trend, and I watch those much more closely.

[fxsrikanth]

@dudest

Hi,

I saw it, but was not convinced to take it ( no fancy explanation, just by eyeballing the chart ).

My possible considerations in chart below.

Cheers

hi dudest…thanks for the reply…now i understood…

i have seen this kind of analysis with Mr.Johnathon also…123 or abc pattern…

if u dont mind…can u tell me how u use that…?

i am sorry…i think i am asking too many questions…but those r important for me…

when a pair fail to make hh…then wait for short pa…or go long if it make higher high again (after pullback)…is this wright?

[Bigd41190]

I ended up taking the AUD/CAD last night and then dropped out at BE. It likely has some room to move down, but I didn’t like the R:R in light of day.

I also closed my EUR/GBP at a loss early due to the rejection of the support level on the 4 hour candles. That one was a counter-trend, and I watch those much more closely.

Still in on my EUR/GBP I’m going to give it to 4 pm est and pull the plug also. I dont like being in a trade knowing that there is a high probability I’ll be stopped up. Gets me all rattled lol

[Bigd41190]

I ended up taking the AUD/CAD last night and then dropped out at BE. It likely has some room to move down, but I didn’t like the R:R in light of day.

I also closed my EUR/GBP at a loss early due to the rejection of the support level on the 4 hour candles. That one was a counter-trend, and I watch those much more closely.

Still in on my EUR/GBP I’m going to give it to 4 pm est and pull the plug also. I dont like being in a trade knowing that there is a high probability I’ll be stopped out. Moved my TP’s to breakeven so I will not take a loss if they dont reach by 4 then Ill take my losses. Gets me all rattled lol

[zakuthimdlethe]

Still in on my EUR/GBP I’m going to give it to 4 pm est and pull the plug also. I dont like being in a trade knowing that there is a high probability I’ll be stopped out. Moved my TP’s to breakeven so I will not take a loss if they dont reach by 4 then Ill take my losses. Gets me all rattled lol

Hi Johnothan and all peeps.
Is it me? Or my newbie rigid mindset,Have we thrown the A+ signal concept out of the window?
Or can we trade even the A+ signal even though it has has elapsed and try to chase it, cause thats what I see happening lately on this thread.

Juniors are taking B+ signals that were deemed as a no go zone.
Contributors are seldom playing this game too.

Please bring back the toungue lash.

[Bigd41190]

Still in on my EUR/GBP I’m going to give it to 4 pm est and pull the plug also. I dont like being in a trade knowing that there is a high probability I’ll be stopped up. Gets me all rattled lol

Hi Johnothan and all peeps.
Is it me? Or my newbie rigid mindset,Have we thrown the A+ signal concept out of the window?
Or can we trade even the A+ signal even though it has has elapsed and try to chase it, cause thats what I see happening lately on this thread.

Juniors are taking B+ signals that were deemed as a no go zone.
Contributors are seldom playing this game too.

Please bring back the toungue lash.

Hence us being “Juniors”… Outside of the big guy I’m not sure if anyone else has fully mastered the art of price action trading…

[andreiirk]

Still in on my EUR/GBP I’m going to give it to 4 pm est and pull the plug also. I dont like being in a trade knowing that there is a high probability I’ll be stopped up. Gets me all rattled lol

Hi Bigd41190!
I’m in EUR/GBP daily too. for days the trade’s gone worse, but it has’nt reached SL at the top of BEEB ( completed in 09, october), i think i should be patience, not 100% trades are perfect.

[dudest]

@liangko

…

IMHO, I would say that this particular pair has losing its uptrend momentum as you can see the price failed to break higher and lower high was formed after the rejection at resistance level (red line). It seems like the sellers are now taking control and the price may go lower.

Despite a BEUB has been formed at support level (turned from resistance level), it may only serve as short term support level. On top of that, the BEUB formed is relatively big but not HUGE enough to convince me to take this trade given that the BEUB has wicks at its upper and bottom which indicates more like a indecision signal to me.

With all these uncertainties, I’m not into this trade.

Hope it helps.

Thanks.

Hi liangko! Yours are one of the few black charts I enjoy looking at

[dudest]

I ended up taking the AUD/CAD last night and then dropped out at BE. It likely has some room to move down, but I didn’t like the R:R in light of day.

I also closed my EUR/GBP at a loss early due to the rejection of the support level on the 4 hour candles. That one was a counter-trend, and I watch those much more closely.

Still in on my EUR/GBP I’m going to give it to 4 pm est and pull the plug also. I dont like being in a trade knowing that there is a high probability I’ll be stopped out. Moved my TP’s to breakeven so I will not take a loss if they dont reach by 4 then Ill take my losses. Gets me all rattled lol

Hi guys!

I’m still in both the EURGBP and AUDCAD ( both were A+ setups in my books: @ key levels + solid PA )

There’s alot of good to be said for cutting losses short ( when it’s done based on solid PA clues that price is not going to go the way that was earlier thought). So I respect u guys for making the call based on how you saw it.

Though they’ve not began by moving as fast as I would like, I’m hanging on to them (as per my pre-trade plan).
I’ve accepted more and more that even good setups destined to be winners often dilly-dally before going off in the intended direction ( dilly-dally = retrace on lower timeframe or initial opposition by the other guys).

In a worst case scenario, in the words of the Whipsaw Song [ thanks to Johnathon for sharing ] => “♫…our stops are in so there’s nothing to do!..honey/trader/baby mine… ♫”

Cheers

[dudest]

Hi Johnothan and all peeps.
Is it me? Or my newbie rigid mindset,Have we thrown the A+ signal concept out of the window?
Or can we trade even the A+ signal even though it has has elapsed and try to chase it, cause thats what I see happening lately on this thread.

Juniors are taking B+ signals that were deemed as a no go zone.
Contributors are seldom playing this game too.

Please bring back the toungue lash.

Hi Zaku,

I think Bigd was talking about how he was planning to manage the trade he was in; he wasn’t chasing a signal.

There’s only so much //tongue-lashing// that Mr J or anyone can do when guys take B+ signals [ he has his own trading to do ]

Of course learning is a process, and one will easily take fake signals when learning the ropes. That’s the point of [B]going through the thread[/B] and [B]practicing on demo[/B] and [B]posting up charts[/B], to learn the ropes without burning the flesh off one’s fingers.

Thanks for pointing things out to keep the thread on track, good show!

Cheers!

[dudest]

hi dudest…thanks for the reply…now i understood…

[B]i have seen this kind of analysis with Mr.Johnathon also…123 or abc pattern…

if u dont mind…can u tell me how u use that…?
[/B]
i am sorry…i think i am asking too many questions…but those r important for me…

when a pair fail to make hh…then wait for short pa…or go long if it make higher high again (after pullback)…is this wright?

Dude, the 1-2-3 pattern is the heart of this method! That’s what Mr J has been teaching all along

We enter trades [B]after pullback[/B] and [B]with the trend[/B] ( 1 -2 -3 pattern )
[ the exception is when trading ranges, in which case we enter at the extreme high/low of the range ]

When price is making higher highs and higher lows ( aka uptrend/upswing ), we look to go long after price has pulled back to key area

When price is making lower highs and lower lows ( aka downtrend/downswing ), we look to go short after price has pulled back to key area

Hope that helps.

Cheers!

[Bigd41190]

Hi Zaku,

I think Bigd was talking about how he was planning to manage the trade he was in; he wasn’t chasing a signal.

There’s only so much //tongue-lashing// that Mr J or anyone can do when guys take B+ signals [ he has his own trading to do ]

Of course learning is a process, and one will easily take fake signals when learning the ropes. That’s the point of [B]going through the thread[/B] and [B]practicing on demo[/B] and [B]posting up charts[/B], to learn the ropes without burning the flesh off one’s fingers.

Thanks for pointing things out to keep the thread on track, good show!

Cheers!

Correct Dudest. I have been practicing Price Action trading for about 2.5 months now. I’m now settling in and starting to see the light, but this has been the first instance(like you mentioned in the post before) that I’ve seen Price action signals going against my original signal. This has occurred for instance on the 4H if I executed a trade on D1, but I cannot say it has happened on the same timeframe up until now.

I’m still learning and this threw me off a little bit. I’m going to record it in my trading journal and look on from the sidelines. Hindsight is always 20/20, but nonetheless I will still lern something from this trade.