Forex Price Action

[doky]

@toyogo00

Hi Doky,

I believe you have banked in your trade. I’ve closed my position @88.30. Here is the chart:

Regards,
Toyogo

Yes, Toyogo, my TP was @88.26m it worked out nicely Actually, I left the second part of the trade to run, half was closed earlier with + 35p

[dudest]

I’m curious as to why a pinbar must open and close within the previous candle’s range?

Hi Kevin,

Because that’s how high probability trade pinbars are typically formed (that’s what gives us an edge).

Have you read through (at least) first 50 pages to find out what this methodology is all about?

Read these please:

>> What is Price Action

>> Pin Bar

[michalkraus]

I am really wondering what will happen on AUSSIE today, we are back at really strong rezistence

[dudest]

Yes, unfortunately [B]there is no way to change that as my broker platform use different close time chart…[/B] For now I have to go that, I want to have nearly office of my broker to smash them heads if it have some problems

Yes, that’s the point; you need to use charting from a broker that has 5-day NY-close charts

Excerpt from page #1 post #1:

When posting please include charts to explain what you are looking at. The charting equipment we use is [U][B]New York close 5 day charts charts[/B][/U]. If you need a link to open a free MT4 broker please just message me as this is very easy. A few MT4 providers with these charts in demo are FXDD, FXpro, Pepperstone, Axi Trader and HotForex…

[varnuunas]

@varnuunas

many pinbars and an engulfing on 4 hour chart. I like EUR CAD the best

My pinbar setup did great today. It was the first time in during my relationship with forex when I had a plan and I knew what i was doing. The odds were in my favor because i picked a setup with pinbar at support level which also matched with a daily trend line. Until yesterday I barely knew what i was looking for in the charts, but now I see what I was missing. Gambling is what i did before, because all I could care was to make a quick buck. I was pointing pinbar here and pinbar there, but now I realize I didn’t even knew how complex pinbar is. I was shooting while blindfolded. It was my laziness and lack of determination to LEARN FIRST AND TRADE LATER. I Will learn now. It feels better when I have control and discipline.
This thread is so awesome, I think I have seen it before but I was too lazy to read through the first post. But I did read it few days ago and bam! The light of knowing illuminates. I will buy Johnaton’s membership for sure. I want to learn more.

Never give up - repeat practice - succeed

[Forex_School_Online]

Thank you I’m confused that this pin not close and open i body or wick of the previous candle but steel go on the right way, in that case next time what shoud to do is it subjective? Would you trade such a signal?

Yes even the very worst setups work out from time to time. Some super ugly pins will work even when from horrible areas. This does not mean that by trading them you will make money. The reason for this is whilst they can work out much more often than not they do not and taking them will just eventually end in losses.

[Forex_School_Online]

@lucariga

For me is a trade directly into support… isn’t it?

Great call. Yes it was trading into support and well done to spot this and pass on the trade.

[Forex_School_Online]

@toyogo00

Hi Doky,

I believe you have banked in your trade. I’ve closed my position @88.30. Here is the chart:

Regards,
Toyogo

Super trading mate.

Solid and obvious signal in line with obvious trend and at pull-back to swing low. Very simple and obvious setup and well played also.

Fantastic job.

Johnathon

[Forex_School_Online]

@varnuunas

My pinbar setup did great today. It was the first time in during my relationship with forex when I had a plan and I knew what i was doing. The odds were in my favor because i picked a setup with pinbar at support level which also matched with a daily trend line. Until yesterday I barely knew what i was looking for in the charts, but now I see what I was missing. Gambling is what i did before, because all I could care was to make a quick buck. I was pointing pinbar here and pinbar there, but now I realize I didn’t even knew how complex pinbar is. I was shooting while blindfolded. It was my laziness and lack of determination to LEARN FIRST AND TRADE LATER. I Will learn now. It feels better when I have control and discipline.
This thread is so awesome, I think I have seen it before but I was too lazy to read through the first post. But I did read it few days ago and bam! The light of knowing illuminates. I will buy Johnaton’s membership for sure. I want to learn more.

Never give up - repeat practice - succeed

Great job. Sounds like you have had a real break through moment or an “ah-ha”!

Feels good when you have one of these and thing fall into place and begin to make sense. Some people don’t realise how close they can be for this next break through.

Your next challenge is to hold onto the nice profit and build on it. Don’t get over confident and fall back into trading something less than perfect. Wait and watch and then pounce the next time your edge is present.

Superb job,

Johnathon

[walker]

@fxsrikanth

hi filip

here i am talking about the pin u pointed…

Thanks for the in-depth explanation bluebird

cheers pw

[Gangman_style]

Hi, I saw bearish engulfing forming now on AUDCHF maybe short after pass low of the candle tonight… Its with trend direction. I thought yesterday that is pullback but its agains the trend, someone looking this chart?

Also on CADJPY nice pulback with strong trend:

[mkteer]

@varnuunas

My pinbar setup did great today. It was the first time in during my relationship with forex when I had a plan and I knew what i was doing. The odds were in my favor because i picked a setup with pinbar at support level which also matched with a daily trend line. Until yesterday I barely knew what i was looking for in the charts, but now I see what I was missing. Gambling is what i did before, because all I could care was to make a quick buck. I was pointing pinbar here and pinbar there, but now I realize I didn’t even knew how complex pinbar is. I was shooting while blindfolded. It was my laziness and lack of determination to LEARN FIRST AND TRADE LATER. I Will learn now. It feels better when I have control and discipline.
This thread is so awesome, I think I have seen it before but I was too lazy to read through the first post. But I did read it few days ago and bam! The light of knowing illuminates. I will buy Johnaton’s membership for sure. I want to learn more.

Never give up - repeat practice - succeed

I’m also on this trade but I went from a 12H chart pin bar. Entry a few pips above the pin bar high.
The price is in a trouble area right now and I’m looking into closing if indecision is present.

[liangko]

Hi all,

Potential setup GBPAUD Daily Chart as follows:

Bullish pin bar forming at support level. However, it is against the current down trend.

Anyone would like to take up this trade with low risk?

Just up for open discussion.

Thanks.

[lalaland]

Just want to say well done guys on the Pin Bar trade. I personally would have traded the last engulfing candle on the chart, The fourth candle along. What do you think guys ?, just an opinion. Please forgive I am still trying to get to grips with adding Charts and quotes. #6285 and #6289

[fxsrikanth]

Sorry for going off topic…

Hi guys…200 pips profit…my biggest win…thanks bp.com and mr.johnathon sir.

I have got 200 pips profit with my divergence trade with daily chart of eur-usd.

I am very happy coz…as i am very interested with divergence from the day i completed the topic in the school…here is my set up…

Entry at 1.3060

stop loss 1.3000

tp 1----1.3120,

tp 2----1.3180.and there i put my breakeven point at 1.3150.

And finally i closed the trade at 1.3260.

[dudest]

@filipl

Hi Dudest,

Sorry to pick up on you but you’re getting me seriously confused mate. It could be my lack of education and experience with this particular method, so would you mind explaining? I highly value your opinion so need to have this clarified. 3 questions.

Would you mind adding few candles to the above chart to illustrate how would look swing low in your opinion please? More importantly - why it wasn’t a swing low for you (before two pictured bearish candles have appeared after the PB); as soon as they have appeared, it’s kinda pretty obvious, but how have you identified it before?

I was getting confused here too. It looks to me like a technically very correct PB: long, 3x longer than body wick, with previous bearish move, opening and closing within previous candle, at retracement/swing (please don’t tell me it isn’t as it is (isn’t it?) it’s another lower high forming when looking at the PB, right? if not, what’s your definition?. Why “not valid”? According to this method is perfectly valid in my humble opinion (apart from trading straight into support clearly marked on your chart, let’s omit that “tiny” (as in my opinion locations is utterly important) detail).

Aren’t these swings? And one more swing low between first two swing highs (forgotten to mark on the chart)

Hi Fil!

Thanks for frank comments, hope I can clear the confusion.

---

1. GBPAUD D1 pinbar: swing low: see charts below:

---

2. AUDCHF D1 pinbar ‘validity’

-> I clarified after that by ‘not valid’ I meant ‘not tradeable’
-> That is: the pin was technically fantastic, but where it was formed made it not tradeable IMO (charts below)

---

3. AUDCHF D1 pinbar ‘swing high’

-> As shown in charts in (2) above.
-> The swings you showed are indeed swings. The issue is: the pinbar is not at the HIGH OF ITS SWING

---

Hope that clears it up.

Cheers!

[Dobo]

Eur/Aud
Hi All,
See the attached Eur/Aud daily - BUEB forming at swing low and the weekly chart where a pin bar is forming. Potential long trade on close of daily. Potential to previous highs at 1.2780. What you think?
Daily - BUEB forming

Weekly chart - see the PB forming at swing low.

[dudest]

@liangko

Hi all,

Potential setup GBPAUD Daily Chart as follows:

Bullish pin bar forming at support level. However, it is against the current down trend.

Anyone would like to take up this trade with low risk?

Just up for open discussion.

Thanks.

Hallo liangko!

If it closes as is (as a pinbar), I will pass, because right now it is under (new) resistance. I will instead look for short PA on H4 (pinbar rejection appears as a pullback).

If the current pinbar however closes as a BUEB (by climbing higher through the S/R zone), I will go long with it.

Cheers!

[Rossymc]

Eur/Aud
Hi All,
See the attached Eur/Aud daily - BUEB forming at swing low and the weekly chart where a pin bar is forming. Potential long trade on close of daily. Potential to previous highs at 1.2780. What you think?
Daily - BUEB forming
<img src=“301 Moved Permanently”/>

Weekly chart - see the PB forming at swing low.
<img src=“301 Moved Permanently”/>

Dobo

Draw a line through 1253. Snack bang under support this one.

RMc

[zhangshuo]

Hi, I am going to enroll into FSO, can any senior member post a genuine review of the members’ area?
I am asking only because forex world is full of scams right now, don’t wanna risk hard-earned money on something not worthwhile. Hope u guys understand. Thx in advance.