There was no resistance at that area and that was the filter to keep you out of this trade IMHO.
I would only trade against such strong trend if the bearish signal was huge, for example, a BEEB or huge pin bar confluence with BRN (next is 87.00).
Everyone has it’s own trading style so that would be enough for me but not for others.
Thanks for the answers.
I advise all traders to stay away from this site: Forex Trading Commentary by Nial Fuller | Learn To Trade
I lost this trade because of bad advice I read on that site: 301 Moved Permanently
And I almost wanted to trade USD JPY after I read the commentary from that site.
So no one should visit that site because you suffered a losing trade?
By the way, if you took the GU Short in his analysis (as I did), you would have made a nice profit. Johnathan Fox, Nial Fuller and Nick B (of Forex4Noobs) all preach very similar price action gospels. It’s all good stuff.
Read, learn, then take responsibility for your own trading decisions. NO ONE wins every setup, not even the skilled traders.
Not because I suffered a losing trade but because he gave bad advice. Johnathan Fox said that I should’nt have take the gold trade because I was trading into resistance. Nial Fuller doesn’t know how to draw correctly support and resistance. I’m still a beginner and don’t know how to make the difference between good and bad advices so I will stop reading that site and stick only with this thread.
I’m not so interested in results, but I’m interested in right or wrong decisions.
Okay so a few things I have to say.
Firstly let us not go down the road of so many other threads on here and other forums of bagging people or basically saying anything that is negative. There are other places for this, but what we are all about is being positive and learning to trade.
Next is if you were following what we do in here you would never have got into that rubbish setup. It was so small and one of the smallest candles on the chart. The main worry about it was it did not tick out and away from price like we need to see pins. The recent short term momentum was all down which you were trading against and you were trading at one of the slowest periods of the year. This is why I have been telling people to take a break and spend time with their family and friends and come back refreshed on January 3rd. The market will still be there and there is nothing to be missed during this slow period other than week setups.
The next thing is whilst I am not defending anyone you cannot go on to say someones trading method does not work of the back of 1x setup. Unfortunately this is what a lot of traders do and what keeps them looking from system to system. They will have one or two trades with a system and if they lose those they will go on another search. Every single method and trading system in the world is going to lose. EVERY ONE. Unless someone knows exactly every single order and size of the order in the market at every single time there are going to be trades that lose. This is why we use money management and never bet the farm on a single trade.
The next point I would like to make is the most worrying. By blaming someone else for you losing a trade you are failing to take full responsibility for your trading. At the end of the day it is you who decides to enter/exit etc. This is the same reason indicators are so popular. Traders can always turn around and blame the indicator for the trade not working. Every trader needs to take full responsibility for everything about their own trading. It is not anyone else’s fault for the results you are making or any trades that go onto lose.
So please let’s be positive and keep in mind the reason we use risk management is because any trade can lose at any time. Take full responsibility for everything in our own trading continue learning.
Safe trading,
Johnathon
Happy New Years to all BP PA traders. I finally made it to page 300 and want to thank all of you have shared your experiences. Had I been aware of all the information contained here, I would have spent the money I used on my MBA to open a FOREX account three years ago. Hopefully once I read the entire thread, I can add value added discussion as well. Once again thanks and happy New Year!
Just shows your commitment above and beyond what most people have. Most struggle to make it pasty page 10 because they want to see what is happening now and don’t want to miss out, even though by not reading the other posts they are missing out by not fully understanding techniques and methods. You will be rewarded for this.
People want to make money and lots of it with the least possible output. I am happy for you that you realise that hard work comes in many forms and one of these is mentally applying yourself to a task to make yourself better at something.
I wish you a profitable 2013.
Johnathon
I hope everyone has had an awesome break and I hope that a lot of people took my advice and took a rest with their family over this slow period because when it gets back going like normal there aren’t many breaks and our families will be wishing for Christmas/New Year to come round.
Just as side point: I am looking to take a extended 4-6 week holiday this mid July, through to mid Aug this year. This period throughout 2012 was unbelievably slow and I see no point sitting and doing nothing again. I will go on holidays (where I can trade anyway if need be) but I suggest others maybe look into this form themselves as well.
No good going through the trading hardships if you can’t use some of the benefits for things like holidays!
Safe trading to all and so super excited to getting back into it full time. For me this will be on the 3rd which is this coming Thursday.
Safe trading,
Johnathon
Hi Johnathon,
love the thread and your trading style. Price is the only true indicator. Look forward to following along. I’ll be back trading on the 7th just one of my rules. Like you I don’t trade in July and August, good time to take a break and freshen up mid winter.
Happy New Year to you and your family
Regards
Tony
Guys, if you jump off a cliff you will have a great rush, try it and experience a new life.
Sorry couldnt resist.
got missed
bump bump 111
The only significant resistance I see is around 88.87 When looking at it on a H1 time frame, that pin bar is a retrace to a support area with a failure to close under it. long long long 
This will be my last post about that site. The reason I mentioned it is because I saw a link to that site a couple of days ago in this thread and at least in my browser if I search price action on google it’s the first site that appears.
The true is over 90% of trading strategies on the internet will not help you to win money and I’m not the person to don’t criticize what I think are bad advices. Not even babypips school will help you to win money. However the school is good in understanding some trading terms.
There is much more to that site than just losing a trade or 2, he looks at support and resistance over only the last 6 months, I don’t agree with his trade management, he wants 2:1 risk reward at every trade and he setts his targets based on what risk reward he wants to receive but the market doesn’t care if you want 2:1 or 3:1, he doesn’t use engulfing bars which are very important imo, he says never to scale out, he says it’s more than enough to trade only EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY, EUR/JPY, GBP/JPY, AUD/JPY, XAGUSD, and XAUUSD (I trade a lot more than those pairs), etc.
Also with the strategies from that site you will win only 50% of time not 75%+ like the strategies from this thread which means you will have to risk less money at every trade.
Its okay. Everyone is allowed their point of view and so are you. I just please ask that we keep this positive and on track with what we do which I keep saying is different to how others do it.
As you said in your post we do thi ngs very differently and that is why I tell people if you want to perfect how we trade you have to stop watching and reading other sites and info. There are many ways to trade PA, but to perfect how we so it you have to study and practise with our rule set, instead of chopping and changing.
Anyways on another more I am looking forward to getting back into it. I am travelling tpdsybut back to normal tomoz 3rd Jan.
Safe trading to all,
Johnathon
New to PA trading. I realize that there was no PB,IB or EB but pair was at a swing low and PA appeared to be primed to move up. Still need work on TP, I left money on the table. Entered @ .82903 TP set @ .83429.
So what was the trade exactly? You say PA was primed to move higher. Can you please explain for us how and what you were using to come to this.conclusion. what was it about price that said it was ready to go higher?
How would you go about replicating this same type of trade in future?
Ath
I am taking this trade as well. 2 consecutive dAILY IB, for breakout. I am already 111 pips. And final target at 84.80.
Is that what pips meant? That h
