Forex Price Action

[zakuthimdlethe]

The first thing you have missed is using different charts to the rest.

The second thing is we do not trade any time frame lower than the daily on Monday morning. The reason is very simple and is because the last 2x 4hr candles and especially the last one can have very dodgy order flow. In other words when we are normally entering a 4hr signal we are entering because the bulls or bears have won control and are pushing price a certain way. On the last candle you will find a lot of people are covering their trades or taking of positions for the weekend which makes the last candle very thin and not always a true indication of the current state of play. This will more often than not create false moves.

Johnathon

Thank you Johnathan.
I will make sure not to trade on a lower time frame monday morning.

[maxryan9999]

Bad Pinbar for Buy in morning on Monday. But i still follow them a little volume

Sorry about grammar.

[walker]

Bad Pinbar for Buy in morning on Monday. But i still follow them a little volume

Sorry about grammar.

? I’m not seeing a pinbar :22:

[kurtmackenzie]

Hi guys! Would you consider this as 2BR? EURJPY H4

[fxsrikanth]

@kurtmackenzie

Hi guys! Would you consider this as 2BR? EURJPY H4

yep…that is a valid 2bar reversal…as last bullish bar closed above the open of previous bearish bar and they together form a bullish pinbar

let us see what happen…let some of my bros comment on the area …where is is formed…coz i cant access the charts…

hope it will work fine…all the best.

[waldmann007]

yep…that is a valid 2bar reversal…as last bullish bar closed above the open of previous bearish bar and they together form a bullish pinbar

let us see what happen…let some of my bros comment on the area …where is is formed…coz i cant access the charts…

hope it will work fine…all the best.

Placed my entry at the close of previous candle. Stop on break even now. Didn’t take profit or anything but running zero risk now.

[filipl]

For gold I think every dollar is 10 pips. So on one standard lot 1 dollar movement would come down to $100.

Thanks Ruben!
I’ll still need some googling though.

Best.
Fil.

[dudest]

Hi chaps!

I haven’t commented for a while, but still watching from the sidelines.
The good news is that I am becoming more and more picky and am able to more watch the daily charts rather than chase every teeny tiny signal., sometimes its even easier to pass the potential setup and watch rather than trying to squeeze myself in lol

One question though.
I have taken recently few trades on Oil and gold and silver but what turned out, I don’t know how to correctly calculate my position size as after few pips movement I was few times more in profit than expected.

[B]Do u have any links to gold/silver/oil position size calculators?[/B] The baby pips one does not have these…

Fil.

Here you go

Position Size Calculator, Forex Position Size Calculator

[dudest]

I see you trade indices. Do you trade FTSE100?

“A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.”
-Mark Twain.

Yes. I think it’s at a key resistance area (hasn’t been breached in a while; fourth try in 3 months, should be interesting to see what happens here)

Cheers

[dudest]

@kurtmackenzie

Hi guys! Would you consider this as 2BR? EURJPY H4

Hi kurt,

W.r.t EURJPY:

My levels are abit different to yours, so the 2BR for me was formed somewhere in the middle.

I am waiting for short PA with the recent down-move at the marked level.

Cheers!

[bygjj]

Lo and behold!
Look at this setup . Looks A+ to me. Unfortunately Im off to work I dont know howis the Day going to end. Any comments

[waldmann007]

NZDCHF forming pin bar. If bearish pin bar forms I see A+. Share your ideas about this one.

[waldmann007]

AUDNZD also forming pin bar but it’s against the trend. I don’t know if you guys have different money management when trading against trend or you never trade against it. Anyways, I’ll post the screenshots.

[waldmann007]

Lo and behold!
Look at this setup . Looks A+ to me. Unfortunately Im off to work I dont know howis the Day going to end. Any comments

Looking your screenshot looks very good. Pin bar on a downward channel is OK or do we need it to hit always support or resistance (horizontal lines)?

[bygjj]

Looking your screenshot looks very good. Pin bar on a downward channel is OK or do we need it to hit always support or resistance (horizontal lines)?

> For me. not always. But there is a chance it goes up.And if it goes up I will be looking at the support line, so wait for a valid PA. before placing order. Gotta go.

[mkteer]

Lo and behold!
Look at this setup . Looks A+ to me. Unfortunately Im off to work I dont know howis the Day going to end. Any comments

Looks good but a long way till the daily candle close

[mkteer]

The most recent trend is down but the price has been trading in a range in the last months. This is a strong support area on the daily so I’m in…

@waldmann007

AUDNZD also forming pin bar but it’s against the trend. I don’t know if you guys have different money management when trading against trend or you never trade against it. Anyways, I’ll post the screenshots.

[russbryant]

The most recent trend is down but the price has been trading in a range in the last months. This is a strong support area on the daily so I’m in…

Have you already placed your buy or do you have a pending buy order above the pin bar?

Russ

[giddy]

Am also watching the pair.Nice pin bar and pool back with the downward trend.Lets see how it closes

[giddy]

Lo and behold!
Look at this setup . Looks A+ to me. Unfortunately Im off to work I dont know howis the Day going to end. Any comments

Am also watching the pair.Nice pin bar and pool back with the downward trend.Lets see how it closes