Hi all,
I have 1 basic Doubt.Sorry if it already raised & clarified in this thread.Bcas i still reading this thread & may take some more days to read it fully.Is there any method to know reverse of trend.If there is reversal Pinbar at first we are considering it as a counter trend move.So what are the conditions to know that the trend is ultimately changed.For Eg:We had Pinbar reversal in AUDUSD before a week & now turning up but it is considered as Consolidation.So when we consider the whole trend is bullish from here.
Thanks in Advance
Regards,
Muthu
Hi all,
I can find USDCHF Bearish Engulfing in weekly chart.Your suggestions & feedback on this please.
Hey. Looking on Daily thereās some supports to hold the tradeā¦ thatās what bothers me to short it
Iām not saying that could not work.
Thank you waldmann for ur thoughts.
I donāt trade the Weekly soā¦but the signal looks nice and if it occurred on the D1 I would be giving it heavy consideration.
Hi bhops ,ok purly for supposition if you saw this on the daily ,then flicked down to the 4hr and saw what waldmann can see on his daily chart (on your 4hr) would you still take it ,as it looks like trading into support to me,bit confusing this one eh,cheers mate, your opinion much respected and appreaciated.
OK so this part is very very [I]very[/I] important.
If you take the D1 you ALWAYS make your zones off that chart. If I was going to take the W1 or the H4 I would do the same thing. Never ever go down to a lower TF than the one you are trading.
Ok what your saying is that if your trading off the daily its imaterial whats happening on the 4hr even coming up to support/resistance,even though it probably going to bounce off that 4hr support/resistance short term it will most likely push through eventualyif it looks good on the daily,hope this is not too confusing .
Yeah I guess you could say that.
Guys i know this is off topic but do you have any suggestion about forex brokers?
i have my real account with FXPro but i start to have doubts looking at horror stories about Cyprus bank bailouts everywhere. I start to think i better get out of there ASAP. I know FXPro has account in Barclays which I think is safer than local banks in Cyprus. But I am still not convinced considering Cyprus situation is worse than ever.
I am now thinking to move to Pepperstone or Vantage FX or IBFX. Do you guys think this is a good idea? All these brokers are regulated and personally I like IBFX more than the others as they seem to be larger and have been around longer but I dont knowā¦
Hello Muthukumar,
defining trend changes can be difficult, but like everything it become easier with experience as you begin to notice the key ingredients that tend to come with all reversals. To read a tutorial on how I personally look for trend reversals using price action you can read an article here which I hope helps: How to Trend Trade Price Action | In Depth Tutorial
If you have any more questions just post them up in here and myself or someone else will attempt to help you.
Safe trading,
Johnathon
A lot of interesting two day setups for this week and one of these is the GBPCHF. The two day chart of the GBPCHF has a Pin Bar which is formed in-line with the recent trend and also at recent resistance level. Support comes in close if price can continue to move lower.
If price fails and moves higher we could see the end to the short term trend lower with a bit of room until the next major resistance around the Very Big Round Number of 1.4500.
GBPCHF TWO DAY CHART
Safe trading to all this week,
Johnathon
Thanks a Lot for your valuable reply Mr.Johnathon.Was going thru all ur forex strategies, articles & videos from yesterday.Very very useful.In single word āSUPERBā. looking forward for ur guidance.Thq
Jon,
Great thread, glad as a newbie I found this thread and your website.
I take it from this potential trade on the GBPCHF chart that weād be looking to short if price starts to move lower (sorry if this is a dumb question), I would assume that our tp would be near those candle bottoms if our trade was initiated?
Thanks
Andrew
nice pin bar reversal
Hello johnathon)I have one little confusion.A while ago i asked dudest about the RN,s.BRN,s and VBRN,s and gave a very excellent detailed answer.Aren,t the number 1.4500 you mentioned in the above GBPCHF setup is called RN instead of a VBRN?According to what dudest said which i would like to mention below.Four zeros after the decimal is a VBRN,three zeros after the decimal is called a BRN and two zeros after the decimal is called RN.
Practical examples:
a) USDCAD: VBRN of 1.0000 (see how price behaves around that)
b) GBPUSD: BRN of 1.6000 (see how price behaves around that)
c) AUDNZD: RN of 1.2400 (see how price behaves around that)
With the gap open we have Monday morning this setup is no longer for me as I wanted to see price move lower past the pin and not open higher like it has so i am letting let this go.
[QUOTE=forex4worth;469921]Hello johnathon)I have one little confusion.A while ago i asked dudest about the RN,s.BRN,s and VBRN,s and gave a very excellent detailed answer.Aren,t the number 1.4500 you mentioned in the above GBPCHF setup is called RN instead of a VBRN?/QUOTE]
I canāt talk for Dudest but, 1.4500 is a VBRN so is 1.500 and 1.400 just like for the USDCAD 1.00 and 1.0500 is for the USD and 1.3500 and 1.400 is for the EURUSD.
