Forex Price Action

[machal]

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?

Level is OK but there is no PA signal what we waiting for. This thread is about Johnathon method and we do not trade stars, IB, hanging man etc. My proposition is to create another topic for different setups which are not related with his method and there we can discuss this potential trades. Method is method, rules are rules

Cheers

[mkteer]

Here’s a position I opened a few minutes ago…SL, TP and price can be seen on the daily chart

Daily

4H

1h Pull Back with a BUEB. Not perfect because doesn’t cover the last candle shadow but it covers last 2 candles bodies

[dejanb1981]

@mkteer

Here’s a position I opened a few minutes ago…SL, TP and price can be seen on the daily chart

Daily

4H

1h Pull Back with a BUEB. Not perfect because doesn’t cover the last candle shadow but it covers last 2 candles bodies

Why would you buy high? You should wait for pull back.

[mkteer]

Why would you buy high? You should wait for pull back.

I closed the position with a few pips because I wasn’t confident enough

There was a pull back on the 1H chart to the previous resistance on the daily chart. The resistance was at 66.75 on the daily. Price broke the resistance went to 67.09 and on the 1H chart pulled back to 66.80 and formed the BUEB.
It was not the greatest of pullbacks but I think price will go a bit higher before a major pullback. Not perfect setup I know so I will move the SL to BE if given the chance

[wigglez]

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

ah, thats ok

[machal]

I closed the position with a few pips because I wasn’t confident enough

There was a pull back on the 1H chart to the previous resistance on the daily chart. The resistance was at 66.75 on the daily. Price broke the resistance went to 67.09 and on the 1H chart pulled back to 66.80 and formed the BUEB.
It was not the greatest of pullbacks but I think price will go a bit higher before a major pullback. Not perfect setup I know so I will move the SL to BE if given the chance

Why you take a trade when you are not confident? You should know what to do before enter. Changing plan when you are in a trade it’s the worst what you can do.

Cheers

[mkteer]

Why you take a trade when you are not confident? You should know what to do before enter. Changing plan when you are in a trade it’s the worst what you can do.

Cheers

You’re right…and it was a mistake to close the position…the price went up

[dejanb1981]

Maybe we get a short signal on eur/cad

[Kasravi]

Hi

NZD/USD Daily chart, Long Anticipated.

Waiting on a breakout of the pinbar’s high.
Cheers.

[Kasravi]

Maybe we get a short signal on eur/cad

Watching the same Res. line for the whole week.

Cheers.

[GivenName]

Eur/aud testing the R level again. Awaiting break or short signal.
Comments?

Cheers.

[walker]

@GivenName

Eur/aud testing the R level again. Awaiting break or short signal.
Comments?

Cheers.

Was watching…
The last candle in ur pic ended up an invalid pin…if it was valid and formed at swing high, I woulda taken a position … so its a pass for me … atm anyway, until / if >> res level gets tested and valid pa forms…

cheers pw

[GivenName]

Was watching…
The last candle in ur pic ended up an invalid pin…if it was valid and formed at swing high, I woulda taken a position … so its a pass for me … atm anyway, until / if >> res level gets tested and valid pa forms…

cheers pw

Yeap, Agreed! I’ma keep one eye on it.
What’s your opinion on the trend? Long term states down, but the recent up clearly has some momentum compared.

[LiquidGenius]

@Kasravi

Hi

NZD/USD Daily chart, Long Anticipated.

Waiting on a breakout of the pinbar’s high.
Cheers.

Is that suppose to be a pinbar? I thought the shadow had to be much longer than that?

[walker]

Yeap, Agreed! I’ma keep one eye on it.
What’s your opinion on the trend? Long term states down, but the recent up clearly has some momentum compared.

Trend is still bearish IMO … cos no 1-2-3 bottom reversal patten completed as yet… thats why we was watching for pa to short at point 2 …
If price is able to close above point 2 and head higher…making (significant) higher highs and higher lows… then …yer… we would be looking at a trend change…

[maxryan9999]

Trap Sell Pinbar

[giddy]

(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

Dudest,

Thanks for your comments above.What if the two trades are not correlated ,is it advisable to take both with your full risk on each?Is int it the same as having the two trades on separate days or weeks?

[skysooner]

If the pairs are not correlated, it is permissible to place full risk on each.

[russbryant]

Can you explain which boxes this trade ticks to make it a valid trade? I don’t think it hits any of them.

@Kasravi

Hi

NZD/USD Daily chart, Long Anticipated.

Waiting on a breakout of the pinbar’s high.
Cheers.

[dudest]

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.

Hallo Tony, thanks for the kind words.

We do not trade the hanging man as a PA signal (e.g, as we do a pinbar)

But we use it as a clue to tell us what price is looking to do (e.g, just as we use the IB to read the price story)

A hanging man (inverse pinbar) formed at an S/R zone (with the head/body right at the level) is usually telling us that price wants to go in the direction that the tail is pointing in.

Hope that helps