I know there are plenty of people that do things in plenty of different ways, but that is not what this thread is for. Please do not post about:
Fundamentals
Trend lines, sloping channels, head and shoulders etc etc
indicators even such as moving averages.
This thread is here to discuss very specific core price action principles and the reason it has worked so well for so long is because we have kept it on track.
Please if you have to post these things start your own thread and start educating others about your methods.
thought I would recap that EURUSD that a lot in here seamed to get burned on.
As we know we are not looking at just the last candle but the whole chart. From that we get the price action story and can make informed decisions. The last candle was beautiful but the setup was not.
The resistance was okay and the Pin Bar A+ but price was clearly not moving either lower or higher and so was in a range. Then even more worrying was the traffic that was just below that this was trading into. If you are going to enter a trade and just above or below your entry you see that candles have respected the same area over and over again, them maybe you want to stay away.
The best trades will come when there is an obvious and clear trend in place. Then it is about having space to trade into.
Based on your GBPAUD chart, your resistance put around 1.5380.
My chart is exactly same as yours, but i didn’t see any resistace at 1.5380.
Do you draw the resistance or support line based on recent PA?
If you switch it to daily, the resistance line suppose at 1.5470.
Mr. Johanthan have taught us to draw the S/R line at higher TF and trade in lower TF.
I cannot see any resistance at 1.5380 even I change it to Daily Line Chart. But I do see this at GBPAUD 4HR chart.
If we trade for 4HR chart, we suppose to find S/R in Higher than 4HR Chart isn’t it?
It’s easy to get confused especially if you live somewhere that does not use Daylight Savings Time. I’m in Arizona and we are one of 2 or 3 states that do not go on DST. The New York close went from 2pm to 3 pm Arizona time when DST stopped a couple weeks ago.
I had already spotted these two. I have the NZD/USD pinbar bouncing off the Weekly S1 pivot. The AUD/USD pinbar I have bouncing off the Weekly S1 Pivot, the Monthly Pivot and the 200 EMA.
I am going to take trades on both of these when the market opens. Keep your fingers crossed for me!
Based on your GBPAUD chart, your resistance put around 1.5380.
My chart is exactly same as yours, but i didn’t see any resistace at 1.5380.
Do you draw the resistance or support line based on recent PA?
If you switch it to daily, the resistance line suppose at 1.5470.
Mr. Johanthan have taught us to draw the S/R line at higher TF and trade in lower TF.
I cannot see any resistance at 1.5380 even I change it to Daily Line Chart. But I do see this at GBPAUD 4HR chart.
If we trade for 4HR chart, we suppose to find S/R in Higher than 4HR Chart isn’t it?
Hiya Tony, Yep it is interesting that 2 people can view S / R at different locations on a chart ( LOL :30:)
I have attached my D1 & H4 Charts but to show you what I am looking at they are both zoomed out a bit and might be a bit hard to see clearly. Anyway, I hope this helps you to see what I was seeing and how I mark up my charts. If I am trading the H4 chart , I only mark the H4 Support & Resistance Lines ( zones). This is what I base trades on. On my screen, I have 2 profiles loaded, these are the H4 & Daily only. I have been through each chart individually and drawn in my lines so these remain in place each time I call up a new chart. I agree it is probably OK to view the D1 when you are looking at a trade entry on the H4 T/Frame - this can give you a heads-up as to where you are at in the bigger scheme of things but I have not done this at all yet. If I am trading the H4, I use the info on the H4 chart. Ditto the Daily. I did see Dudest suggest drawing the D1 lines on the H4 charts and I have started preparing all charts on this basis over the weekend. It will be interesting to see the outcome.
On the H4 Chart, you can see that the Daily lines are pretty much in the same zones as my H4 S/R. Looking way left, I found a Sept. Support area . There has been no PA at this level until recently so I have re-activated this as a reasonably solid level of Resistance. This is at 1.5380 . The bullish 1st bar of my 2BR PA ws the 3rd touch of this Resistance since Nov 8th. To me this has confirmed it to be a pretty good Level where Price COULD react.
Sorry this is a bit long-winded but to explain what I was looking at was not a quick answer - even though to me at the time, my lines were in place and the PA showed its hand. As it turns out - my order was cancelled when the high of the PA was taken out.
Hope this helps
Happy Pipping this week buddy.
[QUOTE=mkteer;421319]Hi. I’m new around here and a recent converter to PA and higher timeframes so be gentle
From the pairs I’m following on the daily charts these two caught my attention. I would like to have some opinions please
Hi MK, Welcome to the family. My 2 cents on these pairs.
AusUsd - Good looking PinBar but its in a no-fly zone IMHO. I will be waiting for Price to make a move to break the S/R areas and look for a PA signal on a re-test.
Hope this helps mate - of course , I am not saying that a trade on either of these 2 will not succeed, its just that we have been taught by Johnathon that over time these weaker signals will fail. Our objective here is to find A+ Trades:22:
Just a reminder - make sure you get through the 1st 50 or so pages of the thread ( if you haven’t done so already )
Hi Guys - Without offending anyone , lets not get too up-tight about what time NY closes etc etc.
The simple fact is that if you are using one of the chart providers suggested by the Boss on Page 1, these are automatically set for NY close and all we have to do is see what time the new bar starts where each of us lives. Discussing this in different time zones becomes very confusing for everyone *( & Frustrating too :34:)
Happy Pipping folks;)
Hi There Faz - did you have a neat weekend ?
My opinion is to be careful here. You will be fighting the recent Bullish Trend and the VBRN 1.000. Good PA bars though . It could work but not for me buddy.
Cheers
I had already spotted these two. I have the NZD/USD pinbar bouncing off the Weekly S1 pivot. The AUD/USD pinbar I have bouncing off the Weekly S1 Pivot, the Monthly Pivot and the 200 EMA.
I am going to take trades on both of these when the market opens. Keep your fingers crossed for me!
Glynn[/QUOTE]
Greetings & welcome Glynn, Great to have you aboard.:35:
I just want to point you to Johnathon’s 1st post where he pretty much explains what he is trying to show us with pure Price Action Trading. Many of us have been through indicators , pivots , MA’s , BB’s etc etc and have now found this masterpiece of a thread. Simple is best - too many lines on a chart can & does conceal what Price is telling you.
Good luck with your learning. We look forward to seeing some of your charts being posted here.
Cheers:54:
[QUOTE=GivenName;421725]Hello guys. Hope you had an awesome weekend. Spent my sunday looking for setups. This one in particular caught my attention. Any thoughts?
Hi GN,
Has possibilities - If there is a strong PA signal to short away from that Resistance , there could be some juicy pippos ready for the taking but as it against the overall trend, I would be watching to reduce my risk and get it to Break Even as soon as possible.
The better trade in my opinion though is to see the resistance get smashed then a strong pullback to test as new Support before resuming bullish run. ( Option #1 ). There is a possible rejection ahead at 1.3000 so would be watching it unfold fairly closely and again be looking to taking some profit off the table early & covering my bum with a move to B/Even just in case I have got it wrong. Self - Preservation is the key with this Beast me thinks :51:
