Forex Price Action

Hm, yeah, Im looking this pairs too, but I prefer to wait the pin bars on daily TF, this days I lost a lot from H4 TF… so I will wait tonight and if I see pin bars on daily- GO :smiley:

My Opinion its A+
Large and obvious BUEB at Key daily support and with the upward trend

It is going to have to bust through a couple of levels first to continue the move higher. I have highlighted where price has found support and resistance in recent times. Trend has been higher here so that definitely helps for price moving through levels, as well as the nice support it has formed from.

Safe trading and many pips,

Johnathon

EURUSD 4HR CHART

The setup is nice but i am not taking this trade because of the overhead traffic.Good luck to you.
Thanks.
Tahir

Ok, lets write some charts which I looking for entry this days, I think will be usefully for all and if I have some mistakes please correct me :slight_smile: Ok lets start:
GBP?JPY



GBP/NZD


NZD/JPY


USD/JPY


AUD/JPY

and 2 more charts:
AUD/CAD



EUR/USD

Hmmmmmm, why this? What is the number one rule of this thread?

Mmmm swing points? On H4 you will see that swing points, on daily isn`t so obviously but on H4 is good :slight_smile:

Yes but you posted a daily chart referring to an EB so the 4hr has nothing to do with it.

i don’t think so, if you looking H4 you will see a big green candle who engulf a 3-4 previous candles, which on the daily is only one doji and one big green candle who engulf the doji… so is it not the same think?

Hire is the H4 and the big green candle:


Mate i have no idea what you are talking about.

You posted a daily chart of the GBPJPY with a BUEB. You even wrote on your chart “engulfing bar”. This is at a high and not a low. Now your saying the 4hr? Well that’s no different either. It’s at a high and not a low.

I am not saying it won’t work out but what i am saying is this is a something we have spoken about a lot in this thread. Entering away from value areas means you will be entering the market at a time when the big guys are taking profit and leaving the market. This is why we wait for retracements…

Johnathon, what you will tell me about my short AudNzd trade?

I see my mistake, I think I mixed the daily and H4 TF on this chart… :smiley: So I`ll wait for retracement on daily not H4
Thanks for explication :slight_smile:

Seams a solid trade with large BEEB. I personally missed it as not in office, but pretty much everything we are looking for. Strong trend in place, retracement higher and then large BEEB at resistance.

There’s something I don’t understand about 4 hr charts.

Let’s say on weekly chart 89.50-90.30 is a resistance zone (as we all know resistance isn’t an exact level). The pair is in an uptrend.
On 4h chart you see a pullback and then a bullish pin bar on 89.50. It’s at swing low and has enough space to move. However the 89.50-90.30 zone is an important resistance zone on weekly chart. Do you take the trade?

I too missed it, but what you think, can we catch on daily? If engulf the hole previous candle? Its chance wright?

I don’t think you understand what I am getting at with the above posts when i talk about getting in at value or correct swing points etc Because the daily AUDNZD would be the exact same scenario with it forming at a low and NOT a high. This is CRITICAL and covered in depth through this thread as to why and how we do it this way.

Sorry Johnathon
I did not get the point!!?? you meant we should not take this because of the possible S/R on the way ??!!

Nope, just highlighting what price is moving into for those taking the trade to take into account.

Hi Fil :slight_smile:

Thanks for the kind words.

Yes, I do mark levels on Daily and wait at those on H4.

However, there are also times (such as this scenario, when price looked like it may have only been going for a minor retracement before continuing), that I also mark out the relevant H4 level.

It’s not contrary really; it’s just adapting to the scenario one is stalking :slight_smile:

Cheers

PS: sorry for all the lines below, but hope it further clears it up :slight_smile:

Before:


After:


Edit: “H4-specific zone where i thought price may reverse”