Forex Price Action

Hi Freesoloing! Would just like to ask, isn’t NZD/USD still in a downtrend? Thank you for your help!


Hello Kurt, yes the overall trend as you show is down, but in the blue box pivots were up, pivots are now indicating the overall downtrend is resuming


I see, thanks for clarifying! :slight_smile:

Hi guys!

Would this be a nice area to have a signal to go short? :slight_smile:


GBPAUD240…eyes peeled


if you believe in the resistance and the trigger bar, then yes…but i dont trade this one

Hi mkteer,

With regards to the Daily: that pinbar was not formed after a pullback, so taking it would be buying expensive.
If the same pinbar was to be formed at the marked level below price, I’d definitely be in.

Cheers


Agreed with Machal, wouldn’t touch that pair with a 10-foot pole
The SNB set a floor for the pair ( @ 1.2000 ) which they’ve defended pretty well.
With all the interference (resulting in choppy charts), not worth the effort

Cheers

Hi FS,

You were right about it not being best-looking setup.

The pinbar rejects KHL of 0.8200 alright, but was not formed after a pullback -> thus no space to trade into; would be selling right into preceding bar lows forming support.

Cheers

Hi kurt,

For USA30/DJ30, I am now looking for longs

There was an opportunity to short with BEEB at BRN 13000. Price went down and hit FTA then bounced back and climbed higher ( ended up being a BE trade for most ).

Now I’m waiting for price to climb higher, then pullback to 13000 and produce bullish PA to continue with upward momentum

If price heads straight up, the next area I’ll look for any action is around 13280

Cheers!


Hi, Dudest!

Thanks for your insight, really appreciate it! :slight_smile:

guys if lets say theres a strong resistance at 1.3040 and it produces a bearish engulfing bar at 1.3020 would you take the trade considering its above BRN (1.3000)? im not asking in regards of counter trend but this is just an example question abiut whether you will take a short if its still above BRN and long if its exactly below BRN

It depends on how the chart looks, usually the brn’s are areas where price struggles even if it isn’t major s/r, have you got a chart or setup in mind or is this purely hypothetical?

In general if there isn’t much room for a trade to move into it means it isnt a+ for me so I would probably pass on it, also you want to be trading away from brns not into them. Hard to say without seeing a chart but if I had to say in that situation I would probably pass, there’s no need to be trading b setups as there’s no one forcing us to trade, might as well wait for the big obvious setups that we don’t have any concerns in entering!

Hope this helps

Steve

Hi guys!

Would like to hear your thoughts on this one, still have less than an hour to close. But if this closes as a valid BUEB, would you consider this a good trade?

Thank you!

AUDUSD 8HR


Hey kurt, personally right now it isn’t closing strongly, and I like the pullbacks to be deeper giving space to trade into, pass for me.

Hi, Juicypips!

This one’s about to close under 2 minutes :slight_smile:


:slight_smile:

yo, to me taking this would mean trading straight into resistance (neckline of the double top). I used to not trade like this before, and normally would take this trade if it closes liket this, without considering any trouble areas.

Hi guys!

Waiting for price action on this next line.


Just now I saw that FreeSoloing already posted this. My bad.

Hey,

I think that we are in uptrend now when price broke last resistance and we should start looking long.
Moreover we need to watch out for the second resistance that is strong too. We will see what price will doing.


cheers

Couldnt agree more!

Nice machal!