Forex Price Action

[fxsrikanth]

@meadsie

Hi Guys - We are closing in on London Open and new bars forming. Has anyone spotted anything interesting for tonite. The only one I can find with any prospect is this EU on H4 - strong down trend , good long retracement so looking for some PA to get in the trend. Of course, Our USA cousins have re-elected their Boss and this could have a settling effect on markets. This being the case, we could see the Dollar gain in strength which would reinforce a resumption of the Bearish trend here. Anyone got a comment or two to add some interest to the nite shift here. :59::24::44:

hey meadsie…i am with u…i am also looking to short this pair where u looking…

but this short term bullish momentum looks too strong…IMO…let us see what will happen…thank u.

dejanb1981

http://forums.babypips.com/attachment.php?attachmentid=35405&d=1352266642

[meadsie]

Hi OMF - My 2Cents worth:
The EJ BUEB is a good looking bar alright but to me it does not stand out from the bunch. If it was at a good swing low position I would be tempted but you have correctly pointed out that there is a strong resistance level above your head and no real room to gather in some good pips for you. If that Resistance can be broken with a bit of momentum , there is a good chance that Price could reverse back to test that area as a Support line and bounce away in a Bullish direction.

The other 2 charts showing 2Bar Reversals are technically as you have called them - however, even though they are both Bullish in character, it is recommended that the stronger signals are where the close of the 2nd bar is past the open of the previous. Not saying they will not work , but we need all the boxes ticked to have a High Probability Trade. These 2 examples show a close of the 2nd bar cannot breach the previous open so I would stay out and just watch with interest.
If you are in these trades, I wish you well and will follow your progress on these ones with interest.

Happy pipping buddy

[dudest]

@filipl

It was a nice signal for H4, but am I correct in thinking the D1 PB is

• playing straight into resistance
• not from a swing/value ?

Even though rejecting the nice 80.00 area and with the most recent daily bullish momentum?

Fil.

PS. Shame I can’t play H4s but I work 9-5.

Hi Fil!

YES on both counts ( D1: not @ swing value low & trading into resistance )

I ended up not taking the H4 trade when I saw it given that the FTA (first trouble area) was near entry of (nice) 2BR
If the PA had been a good pinbar, I’d have considered a go at it.

Cheers!

[dudest]

@birdcat

Hello,its been a long time…

anyone have thought about this signal??

EUR/NZD @Daily

Hi birdcat,

I have thought about this signal, and it is too small to trade…

Cheers

[meadsie]

Hi Dude,
Anything catch your attention tonite ?
:54::53:

[dudest]

@maxryan9999

@FSO : Do you think when you in this case .

Hi Max,

I personally view the climb as a retrace, and would look to short somewhere around the 1.2900 RN

Lemme however just say: I nowadays don’t go down to H1, and even sometimes H4 is scary ( no direction, choppy candles,… ). D1 has been more reliable to deal with ( across pairs )

Cheers

[meadsie]

@fxsrikanth

hey meadsie…i am with u…i am also looking to short this pair where u looking…

but this short term bullish momentum looks too strong…IMO…let us see what will happen…thank u.

dejanb1981

http://forums.babypips.com/attachment.php?attachmentid=35405&d=1352266642

Hi BlueBird - how 's your trades going lately.? Just an update on our plans for a possible short on this Euro - looks like price may head down but it never went high enough to give us a Pin Bar Action. Will have to see if it will come back down far enough to give us either a 2bar or BEEB signal.
Lets see what happens. How do see this working out mate ?
Have a happy nite :59:

[dudest]

@fazliy

hello ! i’m a newbie here… but first sorry for my english…
i just found a set up on usd/jpy (4H timeframe), however the candle still did not close yet, but if the candle closed and forming a pinbar like this can i enter the trade??

Hi Fazliy,

Welcome to the thread!, hope you’ll like it here

For a newbie, you’ve got nice clean charts, kudos on that!

As has already been said:

pinbar needs to open & close within previous bar to be valid -> this one doesn’t

even if it did: a good setup needs to form at swing low/high -> this one is not formed at swing low (means you would be buying at a high price, instead of buying at a low price)

Hope that makes sense.
Welcome again

Cheers!

[dudest]

At above h4 time frame . Every broker will have a hour (close price) different .This thing can effect to pattern candle .
Example : i see Piercing Line H4 in my broker . But you don’t see Piercing Line H4 in your broker .it is a other pattern ???
Do you think so ?

And me i think from [B]H1 —>M1 any broker will same[/B]

Actually, not true. Different brokers have different feeds right from the beginning ( M1 ).
Remember that ANY timeframe is built up from the lowest timeframe ( i.e, 1 minute ), which is the basic building block.
[ 240 of them make up H4, 1440 of them make up D1, etc ]

We use New-York close charts ( e.g, Pepperstone, HotForex, AxiTrader,… ) as those are the most reliable for our style of trading, and look similar to each other.

Hope that helps.

Cheers!

[immvp]

Pin bar Forming on AUDUSD H4 and USDCHF H4

[fxsrikanth]

@meadsie

Hi BlueBird - how 's your trades going lately.? Just an update on our plans for a possible short on this Euro - looks like price may head down but it never went high enough to give us a Pin Bar Action. Will have to see if it will come back down far enough to give us either a 2bar or BEEB signal.
Lets see what happens. How do see this working out mate ?
Have a happy nite :59:

hi friend…even if that last bar closed as a pin bar…and even closed with in the previous bar…i did not trade…

because the size of the previous bar …that is very big and bigger…

if that last bar closed as a 2 bar reversal…then i will take suggestion to trade that…because…if that formed a 2bar reversal or bearish engulfing bar…then price almost complete the place to the support…!!!

i mean…very less space to the nearest resistance… …

what do you say dudest,spongybob,bhopes,jucypip…and Mr.Johnathon…and all my friends…???

[fxsrikanth]

@immvp

Pin bar Forming on AUDUSD H4 and USDCHF H4

i am seeing that there r large candles before to that pin bars…and those pin bars are one of the smallest candles in ur chart…

apart from that every thing is perfect…!!! AND HAVE U CHECKED OUT FOR ROUND NUMBERS AND VBR NUMBERS AROUND THAT AREA?

THANK U.

[immvp]

@immvp

Pin bar Forming on AUDUSD H4 and USDCHF H4

USDCAD H4 CT pinbar is forming for small pip gain if anyone is interested

Edit: Does not form as expected

[dudest]

Hey guys, just some questions:

Anyone taking this BUEB? Also it’s obvious this is trading straight into resistance but if you take the break of the high of the BUEB that means it is past resistance, am I correct?

I also want to ask if these can be considered as 2BRs?

Hi OM,

I didn’t take any of them.
Essentially looks to me like chop, and no clearly defined setup or swing points.

Other than that: taking the red and green bars [B]in seclusion[/B]:

for EURJPY: for me, the two (alone) form a 2BR BUT not a trade-able one (given the upper wick on green bar)

for GBPJPY: for me, the two (alone) would be a 2BR if the green bar had closed at or above the opening of the red bar

for NZDJPY: for me, the two (alone) would be a 2BR if the green bar had closed at or above the opening of the red bar

Again, lemme re-iterate that even if the bars (in pairs above) would have formed valid 2BRs (just as bars), I still wouldn’t trade them based on the picture around where they are formed.

Cheers!

[dudest]

Well heres to my first post…i definitely agree. it looks like a double pin double top on the 4 hour developing on eur/usd.

Welcome to the thread Jaynise

[dudest]

Hi Dude,
Anything catch your attention tonite ?
:54::53:

Hallo meadsie

Nothing’s caught my attention
Let’s see if anything turns up when NY opens

Cheers!

[fxsrikanth]

Hi OM,

I didn’t take any of them.
Essentially looks to me like chop, and no clearly defined setup or swing points.

Other than that: taking the red and green bars [B]in seclusion[/B]:

for EURJPY: for me, the two (alone) form a 2BR BUT not a trade-able one (given the upper wick on green bar)

for GBPJPY: for me, the two (alone) would be a 2BR if the green bar had closed at or above the opening of the red bar

for NZDJPY: for me, the two (alone) would be a 2BR if the green bar had closed at or above the opening of the red bar

Again, lemme re-iterate that even if the bars (in pairs above) would have formed valid 2BRs (just as bars), I still wouldn’t trade them based on the picture around where they are formed.

Cheers!

dedest…i am also mentioned that…in previous posts…but i didnt explain to him like u…

any how…thanks for that nice @@@@@#####$$$$%%%%%%%%&&&&&*****

[fazliy]

i really don’t know what to say except thank you so much!!.. actually i’ve been following this thread from the last two week and this is the first time i posted my question and really hope can learn so much from here… thanks again !

[dudest]

@immvp

Pin bar Forming on AUDUSD H4 and USDCHF H4

Thanks for the heads up immvp.

I honestly think those pins have a good chance of being run over…so not for me

Cheers

[fxsrikanth]

@dudest

Thanks for the heads up immvp.

I honestly think those pins have a good chance of being run over…so not for me

Cheers

me tooooooo…and thanks for ur sharing.