Hey, I found beeb candle on GBP/CHF but not touched some of the S&R lines… is between 2 lines, Does not necessarily have to touch some of the lines or its valid and when is in the channel (between 2 lines)?
I think you’ll find that’s a BUEB (it’s bullish not bearish) and without S&R or pivots or something to indicate a good reason to go against the trend, it’s not very powerful so would step back and watch the next candle’s actions
Thank you 
It seеms I drawn incorrectly the low line… I’m still struggling to put correct the lines, maybe is becouse I see many options to draw SR on chart.
If you allow one question, when you draw S&R how you proceed? You looking first from left to right way for spot the S&R or right to left? How to know which of the S&R are the major and which is minor (how to ignore the minors)? For example below pics Im confused where to put the S&R, I can draw at least 10 lines becouse have many point (high and low)… can you looked please:
The pairs are GBP/CAD and AUD/USD Daily time frame.
I don’t think its a valid BUEB neither because the close is not on the las third of the candle.
And suppose you take it you will be trading right into resistance (the one you draw) and against the trend.
Have a great weekend!
Hey guys. Anyone saw the BEEB on EURGBP?
Correlating with GBPCHF?
Yesterday we had this BEEB on GBPAUD anti correlating with today’s candle on GBPCHF and EURGBP.
I saw them, and I set sell stop under red candle on EURGBP and buy stop below green candle on GBPCHF. For GBPAUD - nothing becouse my penultimate candle (the red) is bigger than the last green candle… it seems this difference is coming from brokers.
Hi traders, I think I understand now how exactly to draw the S&R but for profit target I’m not clear where to spot, I know that have first, second… profit target but if you have to spot limit order where to spot it? On first or second PT? For example hire of this chart of EUR/USD Daily I drawn the key S&R and shorter-term S&R levels… so the first PT has to be the first shorter-term S&R right? the second- second shorter- term S&R and the third PT- the key support line bottom?
So, where to put the limit order near by first, second or third line?
hi, Gangman, I saw your earlier post regarding how you draw s/r levels. Can you share a little bit of your experience since you said you already understands it? THX.
Yes no problem
I saw this article How to Draw Support and Resistance Levels Like A Pro | Learn To Trade
Where is explained very clear.
In brief you unzoom your chart to be more clear and have bigger picture, then you turn from candle chart to linear (It is not in the article, just I saw somewhere) to be much more clear, so you have to determine the key points (a sharp peaks) and draw S&R ( they formed bigger channel) then you draw between them 2 more lines (if its have afcourse) they have to be the shorter- term S&R.
This is, I hope I explained it well 
But it isn`t clear to me where to spot the limit order on the shorter or key S&R… So if someone know
The time that you read on the brokers charts has nothing to do with what time the candle closes. It is simply the time and you can change this. What you can’t change is at what time the candle closes. Don’t bother asking the people at the brokers about this as they will normally tell you that you can, but you can’t.
All the brokers on the list have NY close 5 day charts which we use so reat assured you have the correct charts if you have one of those demos.
Johnathon
Few things to worry about with this setup. Firslt it does not stick up and out at a clear swing high like we would like. It has rather formed in a box of consolidation which means price is making up it’s mind on where it wants to go. More like a 50/50. We want a clear edge.
The next problem is if this does break lower it is running straight into a pretty key support area. Would much rather trade away from these than into them.
If we look more closely into what is happening on this pair in the consolidation box we can see that when price formed this BEEB it moved lower to close up higher off the daily lows. It tested the low of the box it is in before rejecting and moving back higher suggesting buyers at this low of the box. As we can see from that rejection it was the start of buyers moving in to take price back higher to the upper end of the box. That’s what happens in these consolidations and boxes and why I say they are more a 50/50. Price will tend to move from the high back to the low and continue until it breaks out. It is when it breaks out that we may get a chance to find a decent trade.
Obviously this is still in play and could move lower and if you are in the trade good luck.
GBPAUD DAILY CHART
It is a lovely looking BUEB, it is just a shame about the rest of the candles.
Such a strong down trend I would much rather this was bearish and formed at resistance with-in the trend.
I will look for this to hopefully send price higher into the resistance where I will look to short.
GBPCHF DAILY CHART
In the first post for this thread it talks about reading the first 50 pages however to add to that there is so much to pick up in the first 200 pages I recommend anyone serious about learning to trade price action do it. Not many will do it but those that do will benefit greatly from it.
Not only will you read about these sorts of things such as how to draw levels correctly and how many to have and where etc but you will start going over a ton of charts. This helps more than many realise. What traders need is to see as many charts and setups as possible over and over and over.
There is no quick way around this but what you are asking is in there for you.
Johnathon
I agree with that 100%! Every day I back from first page hire and read over and over, not all, are still 600 pages but the main in them. You madest very good videos where explaned very well a lot of things
This is the key: “What traders need is to see as many charts and setups as possible over and over and over.” You say that!
With kind regard and happy new year.
gbp/usd
I WAS LOOKING TO GO LONG WHERE THE ARROWS ARE IT WENT LOWER SO NOW DO WE LOOK TO GO SHORT OR JOIN THE TREND,IF WE GET A PIN BAR CLOSED ABOVE THE LINE IS THAT A ENTRY AFTER THE BREAK OF THE PIN HIGH IF IT FORMS
THANKS
SCOTT
Hey guys! Can’t lose anymore on EURGBP and GBPCHF. Both stops losses on BE. Took some profit when it reached both resistances. I’ll let the rest on free ride. My sincere thanks to Johnathon for creating this topic, gathering lots of contribuiting traders.
Happy new year!
I still have 11 hours in 2012.
What do you think of the pin bar on USD JPY?
Those who entered this trade would have been stopped.
I didn’t take the trade because I didn’t like the signals on other JPY pairs.
I’m an beginner but I think everybody in this thread wouldn’t take a trade against such a strong uptrend.