Hi everybody, What do you think about USDCAD H4 setup? the price just rejected by Big Round Number 1.0000 and forming BEEB (is this a valid BEEB?).
Please give me some inputs.
thanks
EJ
Maxryan, it looks to me like the BEEB has traded straight into the the support and a BRN not too far below that.
As soon as it broke that resistance 1.5822 area I was not interested in any short attempt.
watch out , Nfp day…
Pin in the wrong level
Potential setup on GBPUSD Daily Chart
BEEB after pullback from recent downtrend.
Anyone eyeing on this?
Thanks.
Hallo Dudest,
On Hotforex what indices do you think are tradable from this list? All of them have big liquidity?
USA100, HKO43, SPA35, ITA40, SWE30, SUI30, AUS200 (I suppose this is Ausi 200)?
Im looking this chart too, also and GBP/AUD daily are very similar
Also, anyone looking AUD/CAD daily? Im not sure for my support… its on 1.03000 ring number but its formed something like a pin up that level (but not touched)?
Hi everyone.
As I wrote yesterday we are going to have a almost good pin bar (Hopefully)on AUD/CHF Daily chart. what do you think guys for this setup. I guess it is on a very solid area…
Now I know the market is random. Who would have thought such a big BEEB at the close. Puts a whole different light to my earlier post!
Hey can you ask you how you know when very strong trend will end? For example on EUR/USD, USD/JPY, AUD/JPY,CAD/JPY… how to know how long price may go up or down, which chart you looking for this? Weekly or mountly?
it’s difficult to trade with such a strong trend for me… maybe becouse havent too obviously pullback and i dont know where to entry and where to spot TP… and if I entry on this kind of charts with very strong trend then I wonder when to expect total reversal… any suggestions? Now Im wondering for example this charts above how far may go, and on next pullback if I entry if the price decide to reversal…
Can you help please? Dudest, someone?
Hallo str8,
When I last used HF MT4, I ended up with a final list having: USA500, USA100, USA30, FTSE100, DAX30, AUS200 & CAC40
Cheers!
Hi Hossein,
I also noticed aud/chf, it stands out. and if it is at the bottom of the range the pin looks very convincing, but my query is simply this - are we at the bottom of the range that started october 3rd or are we in a two week downtrend? in which case we would be trading against the trend?
regards
Mike
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Hello Johnathon and others!
I am newbie in forex market. After reading and analyzing tons of articles and strategies i found Price Action the most interesting. I like it’s simplicity and non-confusing, clean charts. I have been following this thread for a month. For now all i can say is, that i am impressed with your work and i’m looking forward to learn from you.
For start i have a question about trading/avoiding news. If i remember right, you posted earlier in this thread that you only avoid non-farm payroll news, which are released every first friday of the month. Does it mean that you close all trades on thursday or move them to break even? Is it smart to trade monday (or even maybe friday at the end of the day), when valid PA setup is formed on daily chart?
So in general i am wondering on which time period does non-farm payroll influence?
Thanks,
DC
I wanted to know what some of the seniors think about the BEEB that happened about a week ago on NZD/CHF Daily Chart. I took the trade and it worked out, however i know things may work out from time to time but over time will eat at the account…If its a trade not worth taking againg id like to know.
Here is why i took the trade…Price was clearly figuring itself out at a relevent level…When price reached the top of that range a not so convincing BEEB formed.The lower wick showed me the bulls where still in play…Then price moved in a tight range before eventually firing a BEEB that engulfed 3 previous bars before falling lower.
Also I saw that there were a few trouble areas. I see most of the A+ trades discussed have theses minor trouble areas. Example the EUR/NZD BUEB on both 11/7/12 and 1/10/13. Are there things you look for that help you decide whether to worry about them or not? Thanks in advance
Hi Gangman,
Well for me I tend to dictate the bias from the Daily.
As for how do we know if price will go up or down? We don’t!! All we are doing when entering a trade is trying to stack the odds in our favour to give us the best possible chance of success.
Think of of the same way you have card counters who play blackjack at casino’s. The gamblers that count cards don’t know exactly what card is coming next, but by memorizing the deck they are able to adjust their bets based on the probability of the cards turning over in their favour.
All it is is a statistical edge which they know if they play out over time will result in them winning more than they are losing. That is why casino’s ban them, because the ‘house’ knows that when it comes to blackjack they can’t actually beat the card counters!
So back to your question we don’t know for sure which way price is going but I usually look at the daily to determine which way price is likely to move.
OK so now for an example. Let’s take a look at the USD/JPY. On the daily we can clearly see a strong Bullish trend but with no major pullbacks that would allow us to get on board. Basically this pair has just been powering on straight up.
This is quite frustrating from our perspective because how do we get into this strong trend if the daily is presenting us with no major pullback opportunities?
The answer is quite simple. We drill down to the 4 Hour where we can see two things:
-
The pair is trending up nicely.
-
Within the 4 hour chart there are pullback opportunities which allow us to get on board.
I have highlighted one that was discussed in this thread and over at FSO. I was lucky enough to be on this trade and it made some nice pips.
I hope the arrows don’t put you off, but basically uptrend, pullback, an Engulfing Bar forms, and you are off to the races!
as to when we expect to see a total reversal well if we are in a Bull trend but price starts making lower lows and lower highs that is a good indication that the trend may be running out of steam. Conversely if we are bearish but price starts making higher highs and higher lows then that may be an indicator that price is about to turn around.
Remember also not to get too caught up in trying to pick absolute tops and bottoms. Not even Warren Buffet can do this! Just trade what is in front of you. If you identify a Bull trend and a nice pullback with a great PA signal and where there is value for you to get on board, take the trade! The market will soon tell if you if you were wrong or not :10:
Overall though if you keep things simple as Johnathon advocates and wait for the a+ trades over time you will win a helluva lot more than you will lose.
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No ne knows and dont try to guess, just trade what you see. Thats we we wait for nice pullbacks so that we have previously tested highs to aim for as a first target. the best moves are often the ones coming out of a solid period of consolidation, but if there has been a sustained strong move upwards just ensure that the pullback is sufficient to create space to trade into and dont worry about the move turning round until price tells you it is going to.
Yes I understand you very clear thank you 
Can I share what was I thinking, for example CAD/JPY if we see the weekly chart we can draw S&R and the price is comming that level, so is it correct to expect a corection in the trend, which means that on H4 and daily TF we will have reversal of the trend and option for short entries? Hire are the pics:
Weekly CAD/JPY
H4 CAD/JPY
Hey guys and gals,
some really awesome trends in place at moment and I am looking to trade with them in my favor rather than against.
EURJPY DAILY CHART
This is a pretty obvious trend. Now looking for any rotations back lower into support to get long.
EURGBP DAILY CHART
Another obvious trend is in place on the EURGBP. On the daily chart we can see price stalled finding minor resistance. Should price retrace back lower to this area it would not surprise to see it hold as new support and for bullish price action to present…
Safe trading to all this week and many pips,
Johnathon
Hallo,
[B]Expecting[/B] it to reverse will cause you to see what you want to see.
All we can do is DRAW THE S/R and wait for price to come to it and SHOW US if it wants to reverse (by means of reversal PA).
Cheers