Forex Price Action

[bobmaninc]

@meadsie

Interesting this one - reasonable Pin at good location. My concern will be the 1.5600 just above entry. My strategy here is to look for a further break down to confirm this current trend. Then see if PA will give me the go ahead to enter short. The very recent Big BUEB actually failed to really take out that BRN and price is already back at support having another crack to break down. It has been rejected again with Dejanb’s pinbar but until Price shows me what it wants to do - I will watch this one out from the safety of my lounge chair ( LOL ):18::30:

Hope one of the seniors can add a comment on this one.:35:

Correct me if I am wrong but why does your chart say EU D1 I think you meant cable (GU D1)

I may not be a senior on this thread but I would personally sit that one out. Looks to me like price is rejecting off that support possible higher low may have formed meaning a short term retracement might be likely.

[TRADEINTERCEPTOR]

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[wigglez]

Isn’t this a bullish two bar on usd/chf

[Nipps]

What time frame do you have for USDCHF Wigglez. Can’t quite see it when zoomed in.

[Bigd41190]

I know what you mean i did go against the short term trend, I took a small position nothing big. I think there is a good support there around 1.5500 area. This is my first trade this week since there is no good set ups out there so might as well take something.lol

This is what you dont want to do! You want to limit “just taking trades” so that overall your trades you take are successful to taking some trades you trade because you havent in a while.

[wigglez]

What time frame do you have for USDCHF Wigglez. Can’t quite see it when zoomed in.

Whoops sorry, its 4h. My short is based on daily

[Bigd41190]

@wigglez

Isn’t this a bullish two bar on usd/chf

Not quite a 2BR just a bullish candle if the body would have finished at the top of the whick then you would have a 2BR

[wigglez]

Not quite a 2BR just a bullish candle if the body would have finished at the top of the whick then you would have a 2BR

thanks,

I can rest a bit easier about my daily short. I think I should stop watching the 4h while my daily works itself out

[Bigd41190]

Anyone else take the CHF/JPY trade?? 90 pips in and locked in some profits. Moved SL to BE

[andreiirk]

Hi guys and gals, i just took a trade on CHFJPY 4H some hours ago, and added more positions as i felt confident. It went wildly with my favor. Dont want to show off but it’s nice. The train has gone too far. JUst wanna thank to Mr Johnathon and you guys always contribute useful infor.

[ddinnov]

@Forex_School_Online

I see what you are getting at here. For me the BUEB was a better trade from same area. I know a lot who took this BUEB and whilst some were taken out at BE others are still holding. Quite often with large EB’s we will see stalling before the next burst.

One thing halting the movement of this trade at this stage is the resistance around 1.5685 area. If this breaks price looks to want to go higher.

Good luck!

EURNZD DAILY CHART

Safe trading,

Johnathon

I was short this one based on the weekly TL but got taken out at BE when the NZ news came out last night. Looking for another short entry for a potential longer term position that might take out the recent low (about 600 odd pips) I’d be careful holding any longs on this one.

[Nipps]

YES! Thank you Bigd. I entered the CHFJPY last night after reviewing the chart you posted earlier. Although I should’ve checked what the general feel was here before exiting!

I sold half position at 83.710 based on resistance on the 1H. And held on to the remainder to around 84.100 for an additional 40 pips. 100 pips total.

I was feeling as though it was becoming pretty overbought. And thought I may wait now until it makes a retracement and watch for PA on the 4H as I am still Bullish. What are your thoughts? Was it a mistake to exit and try to enter again, am I over trading?

Thanks for the help Bigd.

[ddinnov]

@wigglez

Isn’t this a bullish two bar on usd/chf

I took a daily breakout of a reverse H&S last week with the FTA being the confluence of RN .9500 and the 38.2 which is where the pin formed (and why). If the pattern holds as support at the HCR (highest close of resistance) where the red horizontal line is then I believe the PIN may have reached it’s target. If the reverse H&S does play out then the minimum upside objective would be around .9600/50% ret (nice confluence!). On my feed I had the neckline at about 0.9400

Let’s see if the neckline holds as support and we get another retest of .9500 and possible further upside… Just my view

[Bigd41190]

@andreiirk

Hi guys and gals, i just took a trade on CHFJPY 4H some hours ago, and added more positions as i felt confident. It went wildly with my favor. Dont want to show off but it’s nice. The train has gone too far. JUst wanna thank to Mr Johnathon and you guys always contribute useful infor.

I took the same one. I think it will have a minor PB soon and hopefully some more bulls come out to play.

[Bigd41190]

YES! Thank you Bigd. I entered the CHFJPY last night after reviewing the chart you posted earlier. Although I should’ve checked what the general feel was here before exiting!

I sold half position at 83.710 based on resistance on the 1H. And held on to the remainder to around 84.100 for an additional 40 pips. 100 pips total.

I was feeling as though it was becoming pretty overbought. And thought I may wait now until it makes a retracement and watch for PA on the 4H as I am still Bullish. What are your thoughts? Was it a mistake to exit and try to enter again, am I over trading?

Thanks for the help Bigd.

Me personally I tend to stick to the TF I made the trade on. As long as there is not a STRONG and OBVIOUS counter price action signal I will handle my trade management in normal fashion. We dont talk to much about specific trade management in here, but you are new and I’m sure you have learned from this trade that there are more pips to be had.

Try to give your trades a little room to work and stick to your trading plan. You still made some profits though which is always good, but the downside of looking for another PA signal on the PB is that sometimes PA signals dont occur and the pair can begin moving up again(leaving you bitter because you knew it would PB slightly and take back off :31: )

P.s. it may be a little overbought now meaning there may be a minor PB but we are in on the trend and I dont see a major swing-point on the horizon so I’m going to ride this one out.

[mantra4]

I agree I got in on this trade at the BUEB and was tempted to get out but stuck to my stop loss I have now taken 50% profit and moved my stop loss to break even 130 pips up at the moment

@Forex_School_Online

I see what you are getting at here. For me the BUEB was a better trade from same area. I know a lot who took this BUEB and whilst some were taken out at BE others are still holding. Quite often with large EB’s we will see stalling before the next burst.

One thing halting the movement of this trade at this stage is the resistance around 1.5685 area. If this breaks price looks to want to go higher.

Good luck!

EURNZD DAILY CHART

Safe trading,

Johnathon

[dejanb1981]

Lets see if we get a pin bar for short entry in the next few hours

[wigglez]

@dejanb1981

Lets see if we get a pin bar for short entry in the next few hours

The news release created a bunch of pin bars. Do we trust them if they close like that?

[dejanb1981]

The news release created a bunch of pin bars. Do we trust them if they close like that?

If it closes like it is right now I would not take it.

[metin]

EURUSD forming a bearish pinbar now on H1 and H4.