straight into support ,and that wide range bar can act as a supply zone due to the fact the desicion wa made there to break up
You mean support but I know what you mean. Good comment, keep them coming!
Guys for me usdjpy could be instead a short trade … In range between 80,40 (resistance) and 78,00 (support), now bearish engulfing bar on daily on 80,00 level, on 4h break of HL and so possible start of downtrend … I’ll attach my chart reasonings, however I could be completely … wrong:
I eventually wait PA signal for short at 80,00 on 4h timeframe …
hallo Mr.Johnathon…
can you please explain what do you mean by “TRADING STRAIGHT IN TO THE RESISTANCE”
That beeb is not at the correct trade able swing point, to trade we need to buy and sell with value so we want to be selling from the highs of swings, here you would be selling from a low.
Hope this helps
Regards
Steve
What do you guys think of this? It is D1 AUDNZD. It looks like BEEB and will be a trend continuation after retracement. Do you guys agree? Thoughts, comments?
puzon
Yes it helps. I thought it would be considered selling high even though it happened at that bottom of that small retracment. Thanks 
When I first glanced at it I felt it wasn’t exactly what I was looking for so for that reason I didn’t trade it.
Unsure what you are looking for here. There is no BEEB but rather in IB. Price is in a jam and not where we would want to see it.
If you are going to trade reversals we need to see them stick out by themselves from swing points. This is stuck in price and boxing area and not sticking out.
This one is a bit like gambling that could work out. We have a bearish rejection Pin bar that is hinting of rejection of higher prices. Whicherver way price breaks we would look for a move in that direction. If price can break the box lower we will look for price to break short and if higher then vice versa.
The gamble could play of if the lows break but it is 50/50 and there is no edge here for PA trader.
Good luck,
Johnathon
AUDNZD DAILY CHART
thank U Mr.Johnathon…nice explanation…it is really helpful for us to learn how to trade in this kind of situations…
hi friend…i diont trade that SGD-JPY…BUT
on ur usd-chf…i m having my r\s level little bit higher…i want to see price to retrace to that level to get PA signal…
Appears to tick most boxes…only downside i can see is trading into strong support @ 7950 vs where stop needs to be placed. Also the size of last week’s candlestick is only slightly bigger than the average weekly size candlestick. perhaps enter small position and add to it if closes below the 7950
Nice work on checking weekly charts !!
