Forex Price Action

filipl · December 17, 2012, 2:41pm

I personally don’t think that ranging since August would have anything in common with a swing trade on 4H chart… Why are you mixing such different time periods? Remember, taking a bearish PB (if any appears at all) on 4H TF at marked level would mean setting a target at 4H TF as well which wouldn’t be unachievable at all IMHO (~1.552). With the recent 4H downtrend move, price is retracing towards ~1.56.

Fil.

jongp2 · December 17, 2012, 2:41pm

Which pair are you referring to?

wigglez · December 17, 2012, 5:25pm

Did anyone long this eurgbp 4h pin?

zakuthimdlethe · December 17, 2012, 5:55pm

Hi dudest.
I did my chart analysis and please add your views and anyone in this thread.

KayKayV · December 17, 2012, 6:13pm

Is this valid PA set up on GBP CAD Daily chart?

Paddymctaff · December 17, 2012, 7:01pm

The pin is good but look at the resistance you are trading straight into (right where you have put your first target)

KayKayV · December 17, 2012, 7:04pm

Yes…lot of resistance on the left…thanks for the advice!!

kurtmackenzie · December 17, 2012, 8:58pm

Hi guys! Saw this just now, it went up quite nicely NAS100 H8

waldmann007 · December 17, 2012, 9:25pm

Pretty nice pin bar. too bad I can’t trade NAS100. I don’t even know what it is lol.

By the way, I’m already on break even on usdcad. Just protected my money.

kurtmackenzie · December 17, 2012, 10:00pm

Hi Waldmann, if you were to base your trade on the daily chart, would you consider this as a 2 BR? Nice trade btw!

waldmann007 · December 17, 2012, 10:22pm

For me the 2 BR both candles needs to be same size. Check this one on EURCAD on 4th december.

To me the situation on daily doesn’t fit the 2 BR. But that is just my opinion.

wigglez · December 18, 2012, 1:28am

i took the eur/gbp trade based on 4h.

now i’m not so sure about it

rajfx10 · December 18, 2012, 4:11am

What was your reason for taking the trade? as I am looking at a retrace from this level.

wigglez · December 18, 2012, 4:13am

That pin bar on 4h, which I believed to be at nice support
http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action-589.html#post432572

rajfx10 · December 18, 2012, 4:22am

[QUOTE=wigglez;432695]That pin bar on 4h, which I believed to be at nice support

Where is your SL?
The thing is, we have got some data release coming out, if its GBP negative you could be in with a good shout for some profit.
I know we are price action traders but it may help you. I played jfox’s method on this one at the retrace from that lower resistance and was considering that pin yesterday and spoke to some fellow group members yesterday and decided against it to wait for the lower level.

Good luck

rajfx10 · December 18, 2012, 4:28am

Hey all,

This is my next set up, anyone else stalking the AUD/USD?

Regards

Rajfx10

dudest · December 18, 2012, 4:48am

Hi Raj,

I don’t see any setup…please enlighten

rajfx10 · December 18, 2012, 4:56am

''Hi Raj,

I don’t see any setup…please enlighten’’

Looking for a retrace from this uptrend, thought we had had previous support at this level as price had been supported at this level in the past (1.0515) also had rejected on the 6th dec at the same level.

Please let me know Dudest if I may be reading this wrong.

Regards

Rajfx10

zakuthimdlethe · December 18, 2012, 5:01am

Good for you waldmann…
Preserve-------->Wealth.

waldmann007 · December 18, 2012, 7:12am

Sadly it took my break even.

Well, waiting for another setup.