Forex Price Action

[fxsrikanth]

thanks Mr.Johnathon…earlier i am also having the same doubt…but as i thoroughly reading ur and others post i got it…

any how …once again thanks for ur nice explanation…

[fxsrikanth]

@OMFGWTF

Hi Jonathon,

I would just like to ask if we take trades on double pinbars (although first pinbar isn’t exactly one, since it didn’t close within the candle before it; but let’s just say it did and is a valid pinbar)? And then the second pinbar closed excatly like how it is in the picture. Do we take it? Also let’s pretend the trouble area (red arrow) doesn’t exist. Cause from what I understand, PA has to stick out, and if I’m correct with what I am seeing this pinbar wouldn’t be sticking out from the rest since it is close to the pinbar before it. But nevertheless still a valid pinbar.

I guess my question is, if ever this pinbar closes this way, is this considered still as sticking out and would we have traded it? Thanks.

think this will help you…

the one u pointed is not having long wick and which is not at the top or top of the session

[wigglez]

@fxsrikanth

think this will help you…

the one u pointed is not having long wick and which is not at the top or top of the session

I have NY close charts with fxcm and I’m seeing those same bars.

[maxryan9999]

It not a Pinbar , i think it Dragonfly Doji .
Also if you order Sell here you have R:R 1:1 it too small .

[bygjj]

Hi,
Anybody looking at this setup. Im not sure if it is A+. 2 bar reversal. within the trend and at the swing high. Any comments?

[dudest]

Hi guys n gals,

Been away for most of the this week, and have had some catching up to do on the posts, good job on the info sharing.

Two things I’d like to add my voice to:

1. My thoughts on GBPCHF pins:

Apart from helping me read the PA story, these pins do not say “trade me!” to me.
And if something looks suspect, I stand by and watch price unfold; there is no obligation to trade.

On H4, the last of the pins is formed at a level relevant to H4 (IMHO). But still the price story does not look right (compare with last 1-2-3 just to the left on H4).

Until price gets to more significant levels ( i.e, daily zones ) and shows something plain and obvious, I’m watching from the sidelines.

2. S/R levels

Mr J has given two excellent responses (as always)

My last response to an S/R query was in this post, it may be of additional help:
http://forums.babypips.com/newbie-island/48482-its-still-not-obvious-me-2.html#post417747

Cheers!

[dudest]

@bygjj

Hi,
Anybody looking at this setup. Im not sure if it is A+. 2 bar reversal. within the trend and at the swing high. Any comments?

Hi bygjj!, long time

GBPAUD D1: great level! (1.5400) but currently I see: progressively higher highs, and higher lows, so I’m wary of shorting…[ esp since the 2nd bar of the 2BR shows signs of rejection at its bottom…]

( my opinion, not trading advice ).

Cheers!

[OMFGWTF]

@dudest

Hi guys n gals,

Been away for most of the this week, and have had some catching up to do on the posts, good job on the info sharing.

Two things I’d like to add my voice to:

1. My thoughts on GBPCHF pins:

Apart from helping me read the PA story, these pins do not say “trade me!” to me.
And if something looks suspect, I stand by and watch price unfold; there is no obligation to trade.

On H4, the last of the pins is formed at a level relevant to H4 (IMHO). But still the price story does not look right (compare with last 1-2-3 just to the left on H4).

Until price gets to more significant levels ( i.e, daily zones ) and shows something plain and obvious, I’m watching from the sidelines.

2. S/R levels

Mr J has given two excellent responses (as always)

My last response to an S/R query was in this post, it may be of additional help:
http://forums.babypips.com/newbie-island/48482-its-still-not-obvious-me-2.html#post417747

Cheers!

Why is the level I marked not obvious to you?

[dudest]

@dudest

Hallo Jeff,

Just a quick note: that’s a BEEB alright, but not the kind we’d like to trade ( a trade-able setup needs to close strong ).

My take on GBPUSD is as follows:

D1 and H4 show higher lows and progressively holding support levels (around 1.5960 and 1.6000), indicating price trying to push up to the upside. The resistance is holding however; that together with the higher lows indicates to me that price may be preparing for an upside breakout…

Whatever happens, what I’d like to see is: price breaking out of the range in a DECISIVE manner, and show us whether it wants to go up or down. Then I’ll wait for a pullback and PA signal to get in with the DECISIVE direction that price will choose to follow:

Cheers!

GBPUSD H4: Price ended up breaking out to the upside. Now watching whether price will pull-back to former resistance and give nice bullish PA

PS: Same scenario for EURUSD.

Cheers!

[bygjj]

Yes, I got busy with the new work. Thought you were not going to comment. Your comments are always welcome. I still get confused with the 2 BR hehe. Anyway I might just have to trade conservatively. In the 4 hr i spotted a BEEB. TY

[dudest]

Why is the level I marked not obvious to you?

Hallo OMF…,

If you are referring to your post #5614: the level you marked is approximately similar to the marked level on my H4 chart (your level is abit higher). If I was looking for PA on H4, that’s where I’d look.

That doesn’t mean either of us is right and the other is wrong. The picture just does not add up to me (I don’t see decisiveness/direction), and I wanted to explain why I’ll be watching from sidelines…

Did you short off the pinbar(s)?

[dudest]

@bygjj

Yes, I got busy with the new work. Thought you were not going to comment. Your comments are always welcome. I still get confused with the 2 BR hehe. Anyway I might just have to trade conservatively. In the 4 hr i spotted a BEEB. TY

I hope the new work is going well my friend :), thanks for the kind words.

Also saw the BEEB on the H4, but IMHO, it’s not formed after any trade-able sort of pullback, thus no space to trade into

Cheers

[bygjj]

@dudest

I hope the new work is going well my friend :), thanks for the kind words.

Also saw the BEEB on the H4, but IMHO, it’s not formed after any trade-able sort of pullback, thus no space to trade into

Cheers

I hope so too. My entry is about to be hit, What trade are you on right now. Im still on the NZDUSD. It is going well.

[maxryan9999]

@dudest

I hope the new work is going well my friend :), thanks for the kind words.

Also saw the BEEB on the H4, but IMHO, it’s not formed after any trade-able sort of pullback, thus no space to trade into

Cheers

Hi dudest , give me some pair to i have more orders in weeks
my chart

[dudest]

Hi dudest , give me some pair to i have more orders in weeks
my chart

Sorry Max, I don’t get what you’re asking :)… kindly re-phrase.

Thanks

[dudest]

I hope so too. My entry is about to be hit, What trade are you on right now. Im still on the NZDUSD. It is going well.

I’m actually not in any trade right now.

There was PA on the NZDUSD?! I missed it… Good on you and may it go higher for you!

[maxryan9999]

Sorry Max, I don’t get what you’re asking :)… kindly re-phrase.

Thanks

Oh , i’m newbie and i don’t know what best pairs to trade ? (Example : EU,GU,UCHF,AU or …v)
I can’t monitor over too much pair in the same time. So i want ask you the best pairs to monitor .

[dudest]

Oh , i’m newbie and i don’t know what best pairs to trade ? (Example : EU,GU,UCHF,AU or …v)
I can’t monitor over too much pair in the same time. So i want ask you the best pairs to monitor .

Aaah, that’s clear

The more liquid a pair is, the better!
So if you don’t want to watch too many, start with the MAJORS (e.g GBPUSD)
Then as you get more comfy with time, you can add the JPY crosses (e.g EURJPY), then the other crosses (e.g EURAUD)

NB: whatever pairs you decide to watch, do this as first thing:

a) go to daily chart
b) mark two key horizontal levels: one above current price, and the other below current price.

Those are the places we wait for price to reach and produce PA. Once you get comfortable trading on the Daily, then you can check out the H4 (looking for PA at those same Daily levels).

Also check out this article by Mr J on best forex pairs and timeframes to trade:
The Best Forex Pairs And Time Frame To Trade

Hope that helps!
Cheers

[dudest]

Silver ( XAGUSD ) at a key level.

Hoping a long PA if support holds (a)
Else if price breaks through, will wait for pullback and short PA (b)

Cheers

[obiwancenobi]

did anyone here short EURUSD in last 3 hours? well, it’s great for you because the price movement is getting lower so fast