Forex Price Action

[Trading_With_Price_Action]

@kibrul

I m new in Price Action: is my idea correct or wrong. Expert opinion asking…for EURUSD

@russbryant

It might be right somewhere,but it is wrong here. Follow directions in the first post.

Russ

Yes Russ is correct, that does look like a double top but that isn’t what is traded in this thread. Only raw price is traded here with the use of price action. If you have any questions about price action I, and many others are here to help you.

[monjorra]

I am watching EURNZD H4 . pinbar rejected from res and also RN 1.5500.

[liangko]

@sabertoothrex

Hey Team,

First time posting, finally read the first 50 pages or so. Did not know ANYTHING about PA when I started. So I am only 1 week and 50 pages (on this thread) schooled up on PA…

Here was my humble attempt this weekend to identify some PA on daily charts. I only found this potential PB on the daily GBP/CHF…

Hi there,

IMO, it’s a no trade for me due to the followings:

1. The bullish pin bar is relatively small in size compare to previous candles
2. Strong resistance level awaiting at 1.45000 level, which is quite close to current price, leaving it insufficient space for upwards movement to have better risk:reward ratio

I will wait for the price to breakthrough the resistance level (1.45000) to confirm the bullish trend and enter long at retracement to the resistance level.

Thanks.

[liangko]

@monjorra

I am watching EURNZD H4 . pinbar rejected from res and also RN 1.5500.

Hi there,

I’m watching this pair as well and I have entered short on EURNZD based on daily chart.

Pin bar formed at swing high and key resistance level (1.54528), a level where it serves as strong support for the past few months (tested 3 times).

However, the pin bar is not closed in bearish but bullish instead. But given the pin bar is huge and is formed at key resistance level + swing high. I’ve decided to go for short.

Thanks.

[hmr7788]

@liangko

Hi there,

I’m watching this pair as well and I have entered short on EURNZD based on daily chart.

Pin bar formed at swing high and key resistance level (1.54528), a level where it serves as strong support for the past few months (tested 3 times).

However, the pin bar is not closed in bearish but bullish instead. But given the pin bar is huge and is formed at key resistance level + swing high. I’ve decided to go for short.

Thanks.

IMO, I won’t enter the trade at this point, because:

1. I don’t see it as a strong pin bar (as the body is quite big compare with the candle size)
2. It doesn’t close as bearish

But anyway good luck, i can be wrong

[Forex_School_Online]

@liangko

Hi there,

I’m watching this pair as well and I have entered short on EURNZD based on daily chart.

Pin bar formed at swing high and key resistance level (1.54528), a level where it serves as strong support for the past few months (tested 3 times).

However, the pin bar is not closed in bearish but bullish instead. But given the pin bar is huge and is formed at key resistance level + swing high. I’ve decided to go for short.

Thanks.

Problem is it is not a Pin Bar. To be a pin it does not have to close bearish, but it does have to close within the previous candle and have a long nose 3x the length of the rest of the candle and it does neither.

Far better pin bar setup at the same area on the 4hr chart of this pair that is valid.

[GRIX_FX]

The Eur/Usd retested friday’s high but failed to break the resistance level.
With a narrow intraday range of 70 pips a reversal off this area may provide a short
term sell opportunity off this level.

[sabertoothrex]

Hi there,

IMO, it’s a no trade for me due to the followings:

1. The bullish pin bar is relatively small in size compare to previous candles
2. Strong resistance level awaiting at 1.45000 level, which is quite close to current price, leaving it insufficient space for upwards movement to have better risk:reward ratio

I will wait for the price to breakthrough the resistance level (1.45000) to confirm the bullish trend and enter long at retracement to the resistance level.

Thanks.

Hey, Thanks for the response liangko that makes good sense!

[Trading_With_Price_Action]

@Trading_With_Price_Action

The Week Ahead

I would just like to post a couple charts and some stuff for us to watch in the coming week. Hope you guys find it helpful!

The first that im going to be watching next week is the GBP/USD. It broke through recent resistance and is looking like it is starting a little uptrend. Look for price to maybe go up a little more then retrace to the support zone. Watch for a bullish price action setup to go long.

GBP/USD Daily Chart

The next chart is the USD/CAD. Price is coming down to a strong support zone and we should be watching how it reacts around it. If a bullish trade setup forms then we should look to go long. If price busts through the support zone then we should look for price to pullback to the support zone then look for a bearish trade setup to go short.

USD/CAD Daily Chart

The last chart is the USD/JPY. Price has busted through the resistance zone and is looking like the uptrend could be continuing. Watch for the price to retrace to the resistance turned support zone then print a bullish candle to go long.

USD/JPY Daily Chart

We have a pin bar that just printed on the 4H GBP/USD chart. It is right on the major support zone that I marked. The pin bar isn’t huge but it still looks like a good trade setup.

GBP/USD 4H Chart

[cutie]

@Trading_With_Price_Action

We have a pin bar that just printed on the 4H GBP/USD chart. It is right on the major support zone that I marked. The pin bar isn’t huge but it still looks like a good trade setup.

GBP/USD 4H Chart

Hi Mate ,
Great Setups am already with you on GBPUSD trade my SL 50 pips under the market price and TP 1.5350 any thoughts would be appreciated

[Trading_With_Price_Action]

@cutie

Hi Mate ,
Great Setups am already with you on GBPUSD trade my SL 50 pips under the market price and TP 1.5350 any thoughts would be appreciated

Here is how I am managing the trade. Once my take profit level is hit I will move my stop loss up past my entry so no matter what I will at least break even.

GBP/USD 4H Chart

[cutie]

@Trading_With_Price_Action

Here is how I am managing the trade. Once my take profit level is hit I will move my stop loss up past my entry so no matter what I will at least break even.

GBP/USD 4H Chart

Thanks alot for your Quick reply :21:
am a new PA trader any advice to improve my trading ??
Big Thanks to Mr. Forex School Online It is a Gorgeous Thread Keep it up Sir

[hmr7788]

Problem is it is not a Pin Bar. To be a pin it does not have to close bearish, but it does have to close within the previous candle and have a long nose 3x the length of the rest of the candle and it does neither.

Far better pin bar setup at the same area on the 4hr chart of this pair that is valid.

Thanks Johnny for the input
I have a question. As you have mentioned to be classified as a pinbar, it has to open and closed within the previous candle.
Do you mean within the body of the previous candle, not included the wick?

Cheers

[Trading_With_Price_Action]

Thanks alot for your Quick reply :21:
am a new PA trader any advices to improve my trading ??
Big Thanks to Mr. Forex School Online It is a Gorgeous Thread Keep it up Sir

The best way to improve as a trader is just practice practice practice in a demo account. Once you get it down and learn how to be a profitable trader in your demo account then you can move to a real account. So the best advice I can give you is just keep trading and learning!

[Loong]

Hi, just looking for some advice for situations like this with gold.
the BEEB was the first candle of the week, so I know that it’s not ideal. I’m more interested in the actual pattern in relationship to support-resistance.
I was watching for reaction at the SR line and there is a nice BEEB, but price has already broken and held above the SR line.
Would you wait for price to close below the line once again or simply treat this as a no trade?

[hmr7788]

The best way to improve as a trader is just practice practice practice in a demo account. Once you get it down and learn how to be a profitable trader in your demo account then you can move to a real account. So the best advice I can give you is just keep trading and learning!

Very true. I found this thread got a lot of invaluable info for newbie, a great place to learn.
I was newbie too, going through the previous post, up to page 40 now.
I think i need to speed up, can’t wait to learn more from Johnathon

[hmr7788]

My first sharing of thoughts, I am a newbie too, still learning
Currently keeping an eye on EURJPY Daily chart

Looking forward for a pullback to the previous resistance at 126.05
A pinbar or BUEB will be great, and go long

Feel free to comment~~

Happy Trading

[Trading_With_Price_Action]

@hmr7788

My first sharing of thoughts, I am a newbie too, still learning
Currently keeping an eye on EURJPY Daily chart

Looking forward for a pullback to the previous resistance at 126.05
A pinbar or BUEB will be great, and go long

Feel free to comment~~

Happy Trading

Yes this is exactly what you should be doing, wait for a retracement to the support area then look for a bullish trade setup. I would say the closer resistance would be around 127.10

[cutie]

Trading With Price Action
what is your opinion about waiting for a retracement to the support 103 for a long trade on CHFJPY ??

[cutie]

NZDUSD

Am Watching for a PA around 0.8457 for a long trade