Forex Price Action

[ChinaRav3r]

I’d like to advise newbie traders to avoid trading at least 4-5 hours prior to major announcements such as NFP and interest rate decisions, unless you know what you’re doing

[simonbb]

I’d like to advise newbie traders to avoid trading at least 4-5 hours prior to major announcements such as NFP and interest rate decisions, unless you know what you’re doing

Yep, I got stopped out of a trade based on the announcements. One to remember and keep an eye on.

[muruncool]

what do you guys think about this one? For the TP level?

[forex4worth]

@forex4worth

Hi everyone) Yesterday i took the trade on NZDUSD 12H chart.The riskreward ratio is less than 1:1 but i took it as it looks promising and convincing.I had no idea about the non farm payroll news today but looks like it will work.


That,s how i planned to manage it


And just a few minutes ago both take profit levels got hit)


Thanks
Tahir

Hi michalkraus) Which higher high are you talking about?

[arsii619]

@forbiden

Hi guys, what do you say about this positions? I know AudCad and NzdChf is are against the trend, but I think they are good because we have support with PsyLevel 1.06 on AudCad and nice resistance on NzdChf.On the EurNzd have same 1.56 psylevel and BUEB.
NzdChf


AudCad


EurNzd

Well done…Forbiden…i think they proved to be good setups…i really appreciate your work in this thread

[anishfx]

Hi everyone) Yesterday i took the trade on NZDUSD 12H chart.The riskreward ratio is less than 1:1 but i took it as it looks promising and convincing.I had no idea about the non farm payroll news today but looks like it will work.
<img src=“301 Moved Permanently”/>
That,s how i planned to manage it
<img src=“301 Moved Permanently”/>
And just a few minutes ago both take profit levels got hit)
<img src=“301 Moved Permanently”/>
Thanks
Tahir

For me was A+ so dun wanna miz it… Not much pips but took it…

[anishfx]

Well done…Forbiden…i think they proved to be good setups…i really appreciate your work in this thread

I prefer demo on these type of set ups coz trading against the trend!! I will sit back and watch and look for the PA to ride on the trend at swing point
Just my view

[arsii619]

I prefer demo on these type of set ups coz trading against the trend!! I will sit back and watch and look for the PA to ride on the trend at swing point
Just my view

I also prefer demo on it…though they are against the trends…but i think they are counter trend setups…so i prefer to take it…
That is my view…

[forex4worth]

For me was A+ so dun wanna miz it… Not much pips but took it…

Yes pal that,s what it is about) Some people might have different thoughts on this but for me high probability of success matters and i don,t care much about the risk reward.

[forex4worth]

I prefer demo on these type of set ups coz trading against the trend!! I will sit back and watch and look for the PA to ride on the trend at swing point
Just my view

Trading such setups on a demo account is a nice idea but just sit back and watch them instead of making a trade on your demo account is a superb idea.Treat your demo like a real money account.Build some soild good trading habits and they will take you where you want to be.

[Forex_School_Online]

Hi Johnathon,
I might miss out but it seems I couldn’t find your opinion on this one.
Thanks

We are price action traders and not news traders.

Only thing I avoid is the NFP. Other than that I trade when I see my edge present.

[Forex_School_Online]

Reading through the thread and I have come across the below a couple of times and I’m really struggling to understand it.
Can anyone help?

This is critical and the first thing we look for. If you have not read about this you need to go back to where you had got to and keep reading. I could explain it again but this will not be near as good as the 10+ examples I have written through this thread. You will not have to read far as this is one of the most discussed topics in this thread. I have literally spent hours in this thread discussing this and you just need to dig a little deeper and continue reading the thread.

[Forex_School_Online]

@simonbb

Hi Guys,

Heads up on what I think could possibly be an A+ or at least a B+ :). EURAUD on the daily. It has just launched with a nice bullish engulfer. Found some nice supportive candle at 1.268xx. Any input? I think a chart tells more than a 1000 words.

Not a BUEB. Needs to have higher high and higher low which this does not.

[Forex_School_Online]

@buster48

Hi Johnathon at the risk of being told to read the first pages again,could you clear something up quickely for me,Ive looked at your definition of pinbars but still not sure.If we look at this perticular pinbar,we notice it closes and opens within the combined wicks and body of the previous candle but not solely within the body itself.so Im assuming when its said "candle must open and close within previous candle this includes the wick ,is that right.Cheers.

• Pin Bar needs to open/close within previous candle/bar. full stop.

It does not matter if body wick or whatever just within previous candle.

[Forex_School_Online]

Reading through the thread and I have come across the below a couple of times and I’m really struggling to understand it.
Can anyone help?

As just said in previous post everything you seek and more is in this very thread. You just have to dig a little deeper.

We have articles at the site that cover it in depth that I will not add link to. One such article it titled “How pros trade and hunt stops”.

To help you with this you may like some of the links below:

http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action-117.html#post345588

http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action-684.html#post450756

http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action-300.html#post383344

http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action-141.html#post355165

http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action-103.html#post342650

http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action-113.html#post344780

http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action-650.html#post444161

[sachithgh]

USDCAD daily pinbar with the uptrend
with retracement to support level 1.02300
any opinion?

[in2fx33]

USDCAD daily pinbar with the uptrend
with retracement to support level 1.02300
any opinion?
<img src=“301 Moved Permanently”/>
<img src=“301 Moved Permanently”/>

A couple things I see wrong with this setup. I don’t have access to my charts as I am in the caymen islands on vacation but it doesn’t look like that candle qualifies as a pin bar because it doesn’t close within the previous candle. Even if it did that is not a swing low. You have no room to trade as you are trading right into overhead resistance at the 1.0330 level. You want to buy at value areas where your trade has room to move. Sorry for not being able to post a chart. Hope this helps

[in2fx33]

USDCAD daily pinbar with the uptrend
with retracement to support level 1.02300
any opinion?
<img src=“301 Moved Permanently”/>
<img src=“301 Moved Permanently”/>

One more thing. You could have been looking to go long on the 4hour chart at the support level u have marked. You might have been able to find more value in that trade. I don’t know if price action presented itself in the 4 hr or not but that’s how I would have been looking to play that. You did a good job at marking that support level. Hope you understand what I’m saying.

[sachithgh]

Thanks For you reply

A couple things I see wrong with this setup. I don’t have access to my charts as I am in the caymen islands on vacation but it doesn’t look like that candle qualifies as a pin bar because it doesn’t close within the previous candle. Even if it did that is not a swing low. You have no room to trade as you are trading right into overhead resistance at the 1.0330 level. You want to buy at value areas where your trade has room to move. Sorry for not being able to post a chart. Hope this helps

[TkMpZ]

hi Johnathon

Been following this forum for a while, first want to appreciate all the work you have done here, very knowledgeable. It changes my whole trading style and the way I read charts (before my chart is like a graffiti). However, I have two questions that hope you can provide the answers for me regarding to PA.
I.) Referring to a pin bar set up, why a “pin bar” that open/close outside the previous candle is not considered a valid pin bar setup?
II.) Will you also consider other PA such as, Piercing, Dark Cloud Cover… etc into your trading style?

Cheers
TK