Forex Price Action

[mkteer]

@obiwancenobi

hi guys, i’m newbie here i think this AUDUSD is good signal for short? it was formed some minutes ago

It’s not a real BUEB (doesn’t cover the entire previous candle) and it wasn’t produced on any key level. Oh and I’m also long so I want it to go up

[GivenName]

@Forex_School_Online

C’mon guys and gals! No1 should have been in either EURAUD or AUDCHF. The signals are not finished or confirmed until they break so for these the EB’s had to break which they did not. This has nothing to do with moody or any other rubbish just simple rules that if followed work.

I feel I say it every few days in here but I will continue to as it will help. We are price action traders and not news or fundamental traders. Why? Because we can see all the fundamentals playing out in what price is telling us. Price make a huge move higher from a swing low and chances are something in the news set this off but we don’t need to know what happened because we can see it right in front of us on a plain price chart!

The reason using news and fundamentals does not work is because of how the market is trader and what makes it move up and down. Price moves higher because others trade it higher and moves lower because other traders believe it is expensive and sell it lower. What comes out in the news is 99% of the time factored in. This is why it is super common that when a bullish announcement comes out price actually goes the other way. People (who move the market) have already traded on what they think.

Either way we don’t need it because we can plainly SEE what is happening when you learn to read price.

Second guessing and pulling trades because of fundamentals will only end one way. It will create doubt and kill your account. The other thing is you will always find reason to hold or not when you want to.

Safe trading,

Johnathon

EURAUD 4HR CHART

Hello Johnathon.

What if the last bar closes like it is now or higher, would you jump onboard or do you still consider the trend to be down? I’m thinking the recent momentum up is significant stronger than down. Agreed?

Thank you, sir, for being patient with us newbies

[obiwancenobi]

Hey and welcome, what sort of signal do you see this as? (Just trying to help)

Steve

thx Steve for the reply, does it bearish engulfing?

[maxryan9999]

Sorry all i confuse about the time . It close 26 minutes before and price dit not break lower .

[machal]

thx Steve for the reply, does it bearish engulfing?

Hey, Here you have definition of engulfing candles: Bullish and Bearish Engulfing Bars Introduction

Read and try to answer is this real bearish engulfing.

Cheers

[dudest]

@GivenName

Hi Dudest.

Looking on H4 I do agree with you. Didn’t quite close where we want it to. But are you still watching it closely? From a newbish point, I still believe it’s at a key level, and still has potential for either a break of resistance or PA-short?

Thanks again for the input, highly valued!

Hallo GN!

I agree with the you in that I think the level (resistance) is key.

However, the current boxing that’s going on is taking away the appeal of a H4 trade for me.
Now looking towards the Daily…

Cheers!

[machal]

@GivenName

Hello Johnathon.

What if the last bar closes like it is now or higher, would you jump onboard or do you still consider the trend to be down? I’m thinking the recent momentum up is significant stronger than down. Agreed?

Thank you, sir, for being patient with us newbies

Hey,

You have wrong time candle close. We all here use New York time. Read first page please.
What kind of PA sign are you seeing here?

Cheers

[obiwancenobi]

It’s not a real BUEB (doesn’t cover the entire previous candle) and it wasn’t produced on any key level. Oh and I’m also long so I want it to go up

i think you are correct mkteer, candle start to go up, than i should close my order :34:

[obiwancenobi]

Hey, Here you have definition of engulfing candles:

Read and try to answer is this real bearish engulfing.

Cheers

ah yes, you are correct, i got to read more, thanks machal

[machal]

i think you are correct mkteer, candle start to go up, than i should close my order :34:

I hope that was pending order because until now it shouldn’t be triggered yet even it would be a good BEEB

[dudest]

@funkyleggs

Hi everyone ! It has been a long time since i didn’t post here, and i didn’t post much actually but never mind… i’m here to share my views on th forex market with you !

So here we have the CAD/JPY: which seems to have broken the big resistance near 81.362 and the market is testing it as a support right now, so i think that if the Price Action confirms this bounce of that price level i’ll be in. Any thoughts?

Hi funkyleggs!, welcome back!

If bounce trading is in your trading plan, then that could work.

I personally would like to see price climb higher, then pull-back to the 81.25 area and produce long PA before I go long.

Cheers!

[GivenName]

@dudest

Hallo GN!

I agree with the you in that I think the level (resistance) is key.

However, the current boxing that’s going on is taking away the appeal of a H4 trade for me.
Now looking towards the Daily…

Cheers!

Yeah, I see what you’re getting at here. It has probably moved up and down a 1000 pips within a 30-40pip range. :28:
Me too. I’ma keep an eye on the daily and see how it plays out.

Cheers mate!

[GivenName]

Hey,

You have wrong time candle close. We all here use New York time. Read first page please.
What kind of PA sign are you seeing here?

Cheers

Hello sir!

I’m using FXsol (uk), which i’m pretty sure is NY-close 5days chart. In light of your concern, I will however doublecheck.
Also, don’t let my #post fool you, I’ve been lurking around here for quite a while, and read almost the entire thread.

I don’t see any specific PA signal here. I just wondered if his gameplay would have changed if the price did break higher.

Cheers mate!

[funkyleggs]

Hi duddest !

Well i see what you mean about the daily confirmation, but from a daily point of view today could be forming a slight pinbar bouncing straight of the support, so i think the breaking of a nice pin bar either daily or 4H (Or engulfing bar) would be my entry point.
And by the way, it would make a nice 1:2 risk/reward trade without too much trouble if the bullish momentum is confirmed.

So i guess we’ll just have to wait and see.

[tonyshieh]

@meadsie

[QUOTE=dejanb1981;422114]What do you guys think are we gonna get a short signal tonight on gbp/usd?

Hi Dejanb,
Price is hanging around eh ? I am not convinced of a move either way overnight. It is Holiday week in USA so there may not be much volume over e next few days.
I realise that the last few bars ain’t been too decisive and a lot of wicks eveywhere but I will be looking to see if we can get another close to make another HH . If that were to happen , it could give an indication of a change in trend and if PA was on offer , I would take a good look at it.
The charts will tell us soon enough where price is to go :59:

What does anyone else think ?:60:

Hi Meadsie,

I agree with you. Actually i already in this pair yesterday and i short this pair.
All the post here is mentioning around 1.5915 is support.
Actually our eyes is covered by something.
Actually the resistance / support should be at 1.5900 (VBRN).
I lose some pips in this pair only I realize.

[machal]

@GivenName

Hello sir!

I’m using FXsol (uk), which i’m pretty sure is NY-close 5days chart. In light of your concern, I will however doublecheck.
Also, don’t let my #post fool you, I’ve been lurking around here for quite a while, and read almost the entire thread.

I don’t see any specific PA signal here. I just wondered if his gameplay would have changed if the price did break higher.

Cheers mate!

Hey, Here is how I see this chart and my candles from NY close on Pepperstone.

Cheers

[GivenName]

@machal

Hey, Here is how I see this chart and my candles from NY close on Pepperstone.

Cheers

Hi!
Hmm, that’s weird. I just checked with online support at fxsol.co.uk if my charts are NY-close. They said it is.
Dunno what’s wrong. Any inputs any1 else? Someone else using FXsol?

Cheers.

[tonyshieh]

Hi Meadsie,

As per last discussion, you told me that you only will based on H4 chart to draw the support and resistance and trade it.
In EUR/USD, if the candle close with pin bar.
Will you consider 1.2777 as support ? You will enter this trade?

[mkteer]

Closed both positions with 31 + 27 pips profit. Price didn’t reached TP target but I was trailing my SL since this were not perfect setups

@mkteer

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

AUD/USD (New York session close)

NZD/USD (New York session close)

[Jeff5796]

Closed both positions with 31 + 27 pips profit. Price didn’t reached TP target but I was trailing my SL since this were not perfect setups

Nice! I hope can spot this kind of opportunity as well