Forex Price Action

[maxryan9999]

@immvp

EJ 2BR broke resistance and BRN. Anyone in this?

Oh no , i miss him :((
Only one omissions it not Engulf low wick of first candle .

[tonyshieh]

@dudest

Hallo,

Notice the difference?

Hi Dudest,

Thank you so much for your explanation.
Now i get it.

[tonyshieh]

Anyone look for this pair? USDCHF -Daily.

Possible retouch 0.9400 and bounce back?
As the trend is up trend.
If the close of the candle is lower than 0.9400.
It will form a Pretty Pin Bar. Gonna short it.

[immvp]

Short into Support and at Swing low? I don’t think it is a good idea…

@tonyshieh

Anyone look for this pair? USDCHF -Daily.

Possible retouch 0.9400 and bounce back?
As the trend is up trend.
If the close of the candle is lower than 0.9400.
It will form a Pretty Pin Bar. Gonna short it.

[tonyshieh]

Short into Support and at Swing low? I don’t think it is a good idea…

You are right. Shouldn’t short in support and swing low.
Wait for bounce back

[dudest]

@dudest

Hallo,

Any comments on EURUSD H4 BEEB?

Out of this trade now at SL above BEEB high

Cheers

[dudest]

@tonyshieh

Anyone look for this pair? USDCHF -Daily.

Possible retouch 0.9400 and bounce back?
As the trend is up trend.
If the close of the candle is lower than 0.9400.
It will form a Pretty Pin Bar. Gonna short it.

…that’s actually an inverse pinbar ( aka hanging man ).

Unlike the pinbar, the tail of this one tells the truth

Also, shorting into a support is a BAD idea. It is the same as selling something when the price is low (instead of when it’s high).

Anywho, candle is still many hours from closing, so no telling what could happen before then…

Cheers

PS: it is really good on you that you’re posting your ideas and thoughts. The corrections may sting some times, but trust me it’ll save you weeks/months of error. nice work

[tonyshieh]

…that’s actually an inverse pinbar ( aka hanging man ).

Unlike the pinbar, the tail of this one tells the truth

Also, shorting into a support is a BAD idea. It is the same as selling something when the price is low (instead of when it’s high).

Anywho, candle is still many hours from closing, so no telling what could happen before then…

Cheers

PS: it is really good on you that you’re posting your ideas and thoughts. The corrections may sting some times, but trust me it’ll save you weeks/months of error. nice work

Hi dudest,

For hanging man, any requirement need to fulfill?
Ya, shorting in support and swing low is a bad idea.
Thank you so much Dudest.
I really learned a lot from you. Appreciate it.

[dudest]

Just something I came across on USDHKD Monthly… a (very, very, very patient) range trader’s dream

[LeonMiyavia]

Ok guys, look at this USD/JPY 4-hour chart I posted. In another 30min the candle is going to be done and from the looks of it, a potential pin bar is forming on resistance 82.50 which have not been reached since March this year. Intending to short this pair if the pin bar is formed. (Pin bar + Resistance + Round Numbers = A+ signal??)

[LeonMiyavia]

This is another chart on USD/CHF 4-hour chart. I have just went short on this pair due to this “Evening Star” formation forming just not long ago. Any views on this??

[immvp]

This is my H4 chart for UsdJpy. Totally different.

@LeonMiyavia

Ok guys, look at this USD/JPY 4-hour chart I posted. In another 30min the candle is going to be done and from the looks of it, a potential pin bar is forming on resistance 82.50 which have not been reached since March this year. Intending to short this pair if the pin bar is formed. (Pin bar + Resistance + Round Numbers = A+ signal??)

[immvp]

Evening Star is not in Jonathan’s course. And i think you are not using a NY close chart.

@LeonMiyavia

This is another chart on USD/CHF 4-hour chart. I have just went short on this pair due to this “Evening Star” formation forming just not long ago. Any views on this??

[Jeff5796]

Hey,

Here we have BEEB against current up momentum. This BEEB was potential trade against trend but was never triggered
because of high break. Price checked previous resistance area which now turn to support. Setup now is invalid. I’m waiting for this now:

<img src=“301 Moved Permanently”/>

Cheers

Do you mean that next bar of BEEB must break lower than the bar in order to trigger entry to short?

[antaodeoliveira]

Hi guys!
EURUSD Daily chart

Today’s candle presents a hanging man (2 in a row) very close to the 38,2 fib level (and 1.2825 S&R level) on the retracement from recent downtrend. Probably will short the pair today on the close if situation maintains.

Any thoughts?

[dejanb1981]

@LeonMiyavia

Ok guys, look at this USD/JPY 4-hour chart I posted. In another 30min the candle is going to be done and from the looks of it, a potential pin bar is forming on resistance 82.50 which have not been reached since March this year. Intending to short this pair if the pin bar is formed. (Pin bar + Resistance + Round Numbers = A+ signal??)

Be careful shorting this pair. You will be going against the trend.

[machal]

@antaodeoliveira

Hi guys!
EURUSD Daily chart

Today’s candle presents a hanging man (2 in a row) very close to the 38,2 fib level (and 1.2825 S&R level) on the retracement from recent downtrend. Probably will short the pair today on the close if situation maintains.

Any thoughts?

ehhh… hanging man is not in Jonathan’s rules

[wigglez]

(Thot to pick this up before it gets lost…)

Two options when you get good PA on correlated pairs:

1. Take both but half your risk on each ( e.g if your total risk per trade is 3%, you risk 1.5% on each, for total risk of 3% )

2. Take one (the one you think is best)

Cheers

Thanks,

What if it’s staggered? Your in a trade, and maybe 4h’s later you get another pa signal on a correlated pair.

I’m asking because if you trade multiple correlated pairs risking the same with each pair, you are at risk to be burned by every pair if one fails. If you only trade one pair at a time though with daily and 4h tf’s, I can’t imagine you can get a nice monthly roi.

[juicypips]

Thanks,

What if it’s staggered? Your in a trade, and maybe 4h’s later you get another pa signal on a correlated pair.

I’m asking because if you trade multiple correlated pairs risking the same with each pair, you are at risk to be burned by every pair if one fails. If you only trade one pair at a time though with daily and 4h tf’s, I can’t imagine you can get a nice monthly roi.

I can answer this but this is going into trade management which for obvious reasons johnathon doesn’t discuss here, I’m not sure if he would be ok with me explaining how we tackle this so I will leave that up to johnathon

[antaodeoliveira]

ehhh… hanging man is not in Jonathan’s rules

Ok, but I believe that a confluence between 2 price levels (Fib & S/R) is a strong enough signal, perhaps not to a A+ trade but surely enough for a B?