Forex Price Action

[dudest]

I’m using FXCM for charting

Good luck!

Thanks

…

[pokkerface]

Hello my name is Johnathon Fox.

I am a professional trader and trade solely using high probability Price Action signals from very good levels alsong with strict money management and a few techniques to protect capital at all times. Most of my trading is done of the 4hr and daily charts.

The Price Action trading method I use is very clear and simple and something others can learn very easily. I have not invented this method and everything I teach is something I have learned from someone else and have perfected to suit myself. I am a very straight forward and simple person and have tweaked my trading technique to reflect that.

I read in a thread from forexfactory that:

"The best pin bars are played as they bounce off either:

1. Fibonacci levels (retracements of the previous move)
2. Important pivot levels
3. Moving averages
4. Confluence (several MA or Fib levels in the same general region)
5. Swing high / swing low
6. Retracement of the current move (must retrace a minimum of 23% fib
   retracement of the current move), which is a lower probability play.

For the BEST results a trader may play a pin-bar on the swing high (or swing low) or
a pin-bar that is bouncing off confluence (of MA and Fib levels)."

My question is if you use fibonacci levels, pivot points, moving averages, or confluence (of MA and Fib levels)?
Is it enough to be a successful trader if you only look for swing high/low, support and resistance and don’t use MA and Fib levels?

My second question is if I can trade pairs with 8-10 pips spread? I am a swing trader and use mainly the daily charts. until what spread can I trade a pair? What spread is too big for someone who uses daily charts?

[kurtmackenzie]

Guys, saw this one just now Would you consider this as 2BR?

[machal]

@kurtmackenzie

Guys, saw this one just now Would you consider this as 2BR?

Yeap this is 2BR but very, very, very small.

[walker]

I read in a thread from forexfactory that:

"The best pin bars are played as they bounce off either:

1. Fibonacci levels (retracements of the previous move)
2. Important pivot levels
3. Moving averages
4. Confluence (several MA or Fib levels in the same general region)
5. Swing high / swing low
6. Retracement of the current move (must retrace a minimum of 23% fib
   retracement of the current move), which is a lower probability play.

For the BEST results a trader may play a pin-bar on the swing high (or swing low) or
a pin-bar that is bouncing off confluence (of MA and Fib levels)."

My question is if you use fibonacci levels, pivot points, moving averages, or confluence (of MA and Fib levels)?
Is it enough to be a successful trader if you only look for swing high/low, support and resistance and don’t use MA and Fib levels?

My second question is if I can trade pairs with 8-10 pips spread? I am a swing trader and use mainly the daily charts. until what spread can I trade a pair? What spread is too big for someone who uses daily charts?

Hi pokkerface,
Me thinks if you read a bit more into what Mr Johnathon teaches in this / his thread you wouldnt be asking these questions :35:

[konan]

Hi rsg10z

Here is a link to Johnothans site where he has examples of BEEB, BUEB.

Your example is against the trend, the resistance zone is not a key resistance zone, the bar is not much of a BEEB bar.

Bullish and Bearish Engulfing Bars Introduction

Nice website, I understand more the terminology used here -after I read some of the pages.

[kurtmackenzie]

Hi Machal, just a question, as of now, would you consider this pair in a downtrend or not yet?

Thank you for your help!

Yeap this is 2BR but very, very, very small.

[walker]

@kurtmackenzie

Guys, saw this one just now Would you consider this as 2BR?

Is it big? is it screaming out at you to go short against current momentum ?

[kurtmackenzie]

the bullish bars on the way up were bigger than this one, currently learning how to assess bars and all, thanks for your input, walker!

Is it big? is it screaming out at you to go short against current momentum ?

[dudest]

@kurtmackenzie

Guys, saw this one just now Would you consider this as 2BR?

Hi kurt,

You didn’t specify which pair this is, but that bearish pinbar & big bullish bars to the left looked so familiar!, it must be gold

I’m hoping the 3 most recent bearish bars on D1 are just a pullback (pause) before the up-swing continues ( waiting for bullish PA on H4)

PS: as to your initial query, Machal and PW have given excellent responses.

Cheers

[dudest]

@dudest

Hi kurt,

You didn’t specify which pair this is, but that bearish pinbar & big bullish bars to the left looked so familiar!, it must be gold

I’m hoping the 3 most recent bearish bars on D1 are just a pullback (pause) before the up-swing continues ( waiting for bullish PA on H4)

PS: as to your initial query, Machal and PW have given excellent responses.

Cheers

Ok, while I’s just typing that, Gold dropped 250pips in 1 min ( literally ) !

So here’s to an equal bullish rejection happening ( in the period up to the end of the current bar ) to form a super sweet BUEB/pinbar on H4 :)!

==

Before:

After:

[kurtmackenzie]

yeah, i forgot to put it on the chart, good memory mate!

thank you for your help, dudest! i’m learning a lot from your posts!

@dudest

Hi kurt,

You didn’t specify which pair this is, but that bearish pinbar & big bullish bars to the left looked so familiar!, it must be gold

I’m hoping the 3 most recent bearish bars on D1 are just a pullback (pause) before the up-swing continues ( waiting for bullish PA on H4)

PS: as to your initial query, Machal and PW have given excellent responses.

Cheers

[kurtmackenzie]

That was fast! :d

@dudest

ok, while i’s just typing that, gold dropped 250pips in 1 min ( literally ) !

So here’s to an equal bullish rejection happening ( in the next 34mins ) to form a super sweet bueb/pinbar on h4 :)!

==

before:

after:

[walker]

@dudest

Hi kurt,

You didn’t specify which pair this is, but that bearish pinbar & big bullish bars to the left looked so familiar!, it must be gold

I’m hoping the 3 most recent bearish bars on D1 are just a pullback (pause) before the up-swing continues ( waiting for bullish PA on H4)

PS: as to your initial query, Machal and PW have given excellent responses.

Cheers

Thank you dudest…

g’nite all… am gonna flock of ducks off to bed …am done for 2day
flappa flappa flappa woooooooooooooooooosh

[pokkerface]

Hi pokkerface,
Me thinks if you read a bit more into what Mr Johnathon teaches in this / his thread you wouldnt be asking these questions :35:

I’ve read first 50 pages and all his free articles from forexschoolonline but I want to buy his course and don’t know if the advanced course contains fibonacci, moving averages, pivot points, confluence. This thread is for beginners. I don’t know what contains his advanced course. I hope MA, fibonacci retracements and confluence aren’t too important.

[waldmann007]

Hey guys. EURUSD on H4 it’s in a good support/resistance region IHMO. If price action shows up might be an oportunity to go long.

[fxsrikanth]

HI GUYS…i am back…sorry for the delay…i was unable to post the hart earlier…coz of my job…!!!

any one is in this trade?

[Forex_School_Online]

I’ve read first 50 pages and all his free articles from forexschoolonline but I want to buy his course and don’t know if the advanced course contains fibonacci, moving averages, pivot points, confluence. This thread is for beginners. I don’t know what contains his advanced course. I hope MA, fibonacci retracements and confluence aren’t too important.

Heya,

Please message or contact me direct in BP as we try to keep this thread to strictly setups and help.

When you contact me I will answer your questions but just.quickly~ we do not use any moving averages. These tend to help traders see what they want to see instead of key levels that are proven time and time again.

We do use fibs but not like you are explaining. Fibs work best when that are kept simple and the retrace levels used as confluence. I have just made a video of trade and will release in two days time when back from travelling which will explain this with example.

Safe trading,

Johnathon

[dudest]

@waldmann007

Hey guys. EURUSD on H4 it’s in a good support/resistance region IHMO. If price action shows up might be an oportunity to go long.

<Stargate’s Teal’c voice> Indeed…!

[machal]

@kurtmackenzie

Hi Machal, just a question, as of now, would you consider this pair in a downtrend or not yet?

Thank you for your help!

Hey,

For me price is now in possible trend reversal to downtrend. Dudest draw important level (@1736). If I would saw nice PA that close below this level I think that it would be interesting for short setup. But now none of this.

Cheers