Forex Price Action

Wait it without patience…
Look GbpChf too :slight_smile:

Jhonathon could you please advice is this pin bar valid again I mean like last week we traded pin bar???


Waiting for that candle to close aswell (in 3 hours time) to see what forms.
If it can break lower it will break past the BRN of 1.3000 which is where the wick of that candle is at now.

Back in 3 hours :smiley:

Ps. If it were to form a 2BR i would put my TP abit higher around 1.2750 (i take it your TP is the bottom red line on the chart?).
Any thoughts on that from anyone for learning purposes?

Remitu

Waiting also on the 2BR pattern on the EurUsd… Something similar happening on the UsdChf… Any comments on this setup, was a 2 bullish bar reversal on the NzdUsd 4H, the red lines are the SL and the TP, I took it and got stopped out, was this an A plus for you guys?

Regards


My opinion as a newbie who is still trying to learn something from here.

Seems like it will be close as a BEEB. But I have seen so many traffic around 1.2950 (from the previous consolidation area), which makes the trade has little room to run since we are probably entering from the break low of that BEEB and putting the stop loss just above that BEEB. That’s only my opinion though, and would like someone to correct me here if I am wrong. :wink:


Spotted a BUEB in the USDCHF daily chart but abit unsure what to make of it.


My thoughts so far:

  • There is no obvious trend. Market is ranging.
  • It formed at a S/R level that held in the past.
  • Signal is large and obvious.

I cant make out some clear TP levels and with a rather large stop below the BUEB i dont see a very good risk vs reward ratio.

Would love to hear the view of you guys on this setup.

Thanks in advance for any feedback :slight_smile:

Remitu

Hellow… somebody could please tell me what sofware do you use to make the screencaptures of your trades to post them? I did one but it doesnt look as good as yours.

Regards

you can choose picpick or snagit

Hi Remitu,

thanks for sharing your opinion, the wick of the candle is on the round number 1.3000, it make me hard to make a decision for entry a trade here, if the price break the round number, the support will be around 1.2900, i think only can take a little profit if we going to short from here.

appreciate for your responce.

yup, in my opinion, it’s not wise to long this pair.
for the past 3 weeks, it’s downtrend.
now if we long this pair, seem to me it’s against the trend and the higher TF trend is not trending.

thanks for your explanation too.

currently the price is slightly higher than the lower price of previous candle. i place a sell stop order below the BEEB and stop lose at the top of the BEED.

see how the outcome later

if you using MT4 software, i think you can go to --> File —> save as picture.( not sure your software have this function or not)

You can also use jing)


Hi every one,

Is this setup available? BEEB at strong resitance. CADCHF daily.

Hey Yumei,

I dont think that the bar you marked there is a engulfing bar.
It doesn’t fully engulf the previous candle. The highest point of the candle doesn’t go past the wick of the previous candle making this no engulfing bar.

Also BEEB means Bearish Engulfing Bar and seeing as this moves up it would be a Bullish Engulfing Bar or BUEB for short.

The level you marked looks good though just no PA signal on it at the moment.

I would put mine a little lower at 0.9026 so it is more in line with previous levels of S/R.

Also notice how the pair is in a down trend and this would be trading against it.

Remitu

Ps. I’m still quiet new to PA trading so take my advice with a grain of salt :slight_smile:

You can also right click in the chart and click “Save picture as…”

Thanks mates I dit as mttee said… This is again a 2 bullish BR setup that I took few days ago on the NzdUsd and got stopped out… both red lines are SL and TP1… any comments or suggestions about this trade? Maybe a comment from the seniors or Johnathon perhaps?



Regards

What 2bar a few days ago?

This one…for me it was a 2 bar reversal… feel free to correct me if I am wrong and make any suggestions you like


Regards

Price broke your support with that red bar, thats the area I would of liked rejected with a big pin bar, EB or 2bar. The 2bar you marked was after a bounce from the low and small in size.