Hi Dudest,
Really Good setup.
I took EUR/USD(on demo- long) as well as USD/CHF(on live - short). Daily setups are way to go - No doubt about that. Just wondering how many setup you get in a month (average) if a person only trade daily…
Cheers
Hemant
Nice spot Dudest, this was actually mentioned on our private forum as well, which means you are definitely getting the hang of it!
We would probably refer to as it a BEEB rather than a 2 bar reversal although calling it that is also relevant. A nice trade and I hope you took it!!
Just out of interest are those 2 dotted lines your take profit 1 and take profit 2 zones?
Nice spot mate,
All the best,
Bryce.
I’ve only been trading for three months but so far I’ve done 15 trades. However, I missed a few setups because I slept in and missed the entry. All up, I guess you can look at around 6-8 trades per month trading daily signals? That is my benchmark.
wow man I congratulate you on your self control. When I first started I wasn’t happy unless I got that many trades a week (like most noobs). Now I get one or two a week (sometimes four or five or none, its all in whether the opportunity presents itself or not), am profitable, and spend at most 2 hours a day looking at charts.
Hello everyone,
Do you know what book is good to learn price action for beginner to advance? what title is it? and who’s the author?
Could you give me suggestions ?
Thank You all…
How lucky all newbie are that read this thread before others
Saving you time, money, PUTTING YOU FIRST! :59:
Hey roberthadiputra
You dont need a book, follow this thread and google pin bars, Bullish Engulfing Bars, Bearish Engulfing Bars, ect ect and you will be fine
Hey Ang101 
thanks for the comment, yes i’m a newbie in FOREX(just started to learn for almost 2 months now), and i guess you are right by saying that how lucky we are as a beginner to find this thread. it’s like this method is really so cool i say :), simple, very2 clean chart (no indicators), that’s why after read this thread makes me very2 eager to learn this method deeper. So i’m googling everything that relate with Price Action, and then I started to think maybe there is a great book that can taught me this method…
and yes i will keep follow this thread… hehe…
Thanks again Ang101
I was like that too. Late last year I was entering five trades a DAY. Lucky it was demo. Trading the daily timechart is very relaxing, you’re not rushed and you can take your time analysing setups. And it doesn’t take much time to do at all. I usually wake up 30 minutes before the end of the market day, see what good setups are forming, and put in my pending orders. Then I might spend a bit of time writing in my trading blog. The whole process usually doesn’t take more 60 minutes and I’m done for the day.
Hello all,
sorry I have not been around this past week as much as I would like. I have been making some changes to the site as most would know.
I will be around a lot more this week and helping/commenting more.
Hello roberthadiputra,
go here: Price Action Trading and just read all the free info and vids. This should help you with basics and then you can come back here with the basic knowledge etc.
Hemmant,
please can you contact me personally via email at: <[email protected]> when you get a chance. I need a valid email adress for you.
Safe trading all and I will talk to you all soon!
Just always remembers the price action traders that lose do so because they don’t have the discipliine to only wait for the A+ setups and then pounce. If you want to make money be better than them and only take the best setups. When you find yourself saying “this was almost a Pin Bar” or “almost a great area” you are not fooling anyone but yourself! If it is almost you know in your logical brain you should NOT trade it, so have some more discipline and DONT’!
Safe trading,
Johnathon
Keep it naked full stop!
Ema’s and other rubbish just produce false information and confuse rathe than help people. As you have seen Spongy they simply are not needed! All the info is produced with the price!
Johnathon
Yes Yes Yes and something I have been stressing for ages. All the big moves are far more easily read of the daily charts.
If you are new stick to weekly and daily!
Why? Because the intraday charts can be wild and whipsaw you out before you learn the core principles and exactly how Price should be traded.
Johnathon
Music to my ears!
Great stuff!
Johnathon
ALMOST SHOOTING STAR
Trade Plan:
This is a counter trend trade along with the weaknesses identified on the analysis above I will open a short position with minimum risk of 0.3% of capital. The conservative pending sell stop will be placed at 0.7533. At FCL (0.7503), I will take partial profit 0.1L and move the remaining 0.1L to break even which is 30 pips above entry at 0.7563.
Hemmant,
please can you contact me personally via email at: <[email protected]> when you get a chance.
Regards,
Johnathon
Mike,
have you read my previous thoughts on almost setups? You disagree? Would love to hear your thoughts…
I don’t trade this pair so I have not taken the time to analyse it but good luck to you,
Johnathon
Thanks for the kind words Bryce
Yes, the 2 dotted lines are TP1 and TP2.
I actually didn’t expect it to start going down on Friday (thought it would be a trade for the coming week). But Johnathon was right, like many good trades, this one went off in the right direction in the next period after the setup was formed.
I entered 4 positions. I took two off before end of trading on Friday (9 pips shy of TP1) and moved the other two to break-even.
PS: I also entered the trade in the Trade of the Week contest here. Every vote made for the trade is a vote for Price Action (people usually vote the indicator-laden, technical-sounding ones, even when a good number of the trades turn out wrong…sad. The proceeds also go to charity; appreciate every vote
Thanks
Hi guys,
What do you think of this one?
-> AUD/CAD weekly: closed with bullish pinbar at support
-> AUD/CAD daily: bullish 2-bar reversal formed at end of Thur 15th at same support
Weekly:
Daily:
In addition, on the weekly chart, a bearish pinbar has formed at resistance after a pullback
IMHO, pretty good confirmation that downtrend will continue
Hi Johnathon,
I have written to you an email yesterday. Please could you confirm that if you have received it.
Thanks
Hemant
