Forex Price Action

[dudest]

No worries mate, I’ve been following this thread for a while now and I can see how you, spongybob and Bhops have been trading well implementing Jonathan’s method. Good job guys!

Thanks Dipak!

[teb5108]

Looking good dudest. Looks like they’re turning before hitting resistance though. Oh well it happens more often than not. Here’s what I have my eye on for the next few hours.

EURAUD

[Spongybob]

Seems like you guys like the 4H like me. :59:

I just wish I had more time, seem to be missing too many trades. I guess its time to resign. lol

Where are you guys from? Im in Cape Town South Africa.

[ajyong830]

nice thread,big help for newbie

[ajyong830]

Seems like you guys like the 4H like me. :59:

I just wish I had more time, seem to be missing too many trades. I guess its time to resign. lol

Where are you guys from? Im in Cape Town South Africa.

resign?u manage to make bigger profit from u salary?

[dipak]

Any thoughts on the 4hr pin just formed at daily support?

[Forex_School_Online]

Any thoughts on the 4hr pin just formed at daily support?

On what pair?

[Forex_School_Online]

Looking good dudest. Looks like they’re turning before hitting resistance though. Oh well it happens more often than not. Here’s what I have my eye on for the next few hours.

EURAUD

Hello,

if you go to the daily chart you will notice a very clear support level comes in a little lower than you have highlighted. This support is also the 50% fibo area and an excellent area to get long should PA present.

I will cover more tomorrow.

Johnathon

[dipak]

On what pair?

Sorry guys gbpjpy

[Vahagn]

@dudest

GBPAUD: BEEB @ H4 swing high:

Hi dudest !

I actually took that trade and get stopped out on BE with 28 pips of nice profit !
I am Interested to see Johnathon’s or Bryce’s thinking on that BEEB…

Here how it looks now…

[ajyong830]

seriously does englufing,pin bar working in h1 timeframe?
so far i make 10 trade with h4 timefram and got 9 profit trade.
any idea with h1 time frame?

[nctrades]

seriously does englufing,pin bar working in h1 timeframe?
so far i make 10 trade with h4 timefram and got 9 profit trade.
any idea with h1 time frame?

Hi.
I think the most reliable timeframs is the 4h and daily charts.
But sometimes i like to use 15min charts

[nctrades]

Hello Galileo,

all questions are welcome. We were all new once and we are all new compared to someone else (Buffett) Haha.

Yes my charts are MT4 with a 5day candle and New York close. I use NY close candles as NY is seen as the unofficial close for forex markets around the world for the 24 hr period.

I do a lot of daily time frame trading so it is important to get the best info which the 5 dasy close NY candles give.

The difference you are seeing is the candle close time on all time frames such as 1hr, 4hr and daily. Price is still doing the same thing, however it is being represented differently in the shape of the candles. In other words if price is going up on your charts it is on mine however if your 4hr candle closes now and mine in 3hours time we are going to see very different things.

As for the second question. I plot my levels where I think price will react in a certain way. I then wait for price to reach this level and give me a Price Action signal to confirm my thoughts. So for example I may plot a support area and when price gets there I look for a long signals of this support to get long. Make sense?

Hope this helps. Safe trading,

Johnathon

Hi.
I’m reading this thread since the begining.
How can i know if my charts are on New york close or how can i setup the charts to new york close?

[nctrades]

Hey that’s cool. I can guarantee someone else is reading this and thinking the same thing.

You can not set the timing of your charts. You can change the time you see however the broker decides on candle make up and closing times.

The other option is if you want to see the NY close signals I see, is setup a MT4 demo account which costs $0 and then you can monitor setups on demo and keep placing trades on your other broker.

Let me know if you wan’t to do this and I’ll put you onto the correct demo as once again not all MT4 companies use the same candle close time!
Johnathon

Sorry, i only see the answer to my question now.
But how can i now if my broker use new york close charts?
I use Oanda with metatrader4 plataform

[teb5108]

Sorry, i only see the answer to my question now.
But how can i now if my broker use new york close charts?
I use Oanda with metatrader4 plataform

Either ask oanda or compare your charts to the ones posted here

[nctrades]

What do you think about this chart?
Possible H&S pattern?
The chart is aud/chf 4h

[Ang101]

Nicely market levels, now just look for PA there.

Simple as pie!!!

[Paddymctaff]

Ok 1st time poster here so take it easy:) On the AUD/CHF that looks like a clear beeb, formed at previous S/R, in the direction of the trend and now a break lower than the close of that beeb, so we should be in that trade now with target around the top of the right hand ‘S’ that you have put on there and 2nd target a little higher that the ‘H’ (I hope that makes sense)…

If im off the mark would welcome feedback

[Alienonweed]

@teb5108

Looking good dudest. Looks like they’re turning before hitting resistance though. Oh well it happens more often than not. Here’s what I have my eye on for the next few hours.

EURAUD

My take on Eur/Aud. Zooming out on the daily I see that price was rejected at previous support (and now resistance?) [red line]

Was looking to got short in that region but did not get a good price action trigger to go short. I’m looking for a break and retest in support and the trendline [blue lines] before looking to go short.

[Paddymctaff]

If there is a bullish signal off of the previous resistance would you take a long? I can see that if we were looking for a short then we need to wait for price to break the recent resistance and then retest, but im confused as to how to identify which trend to favour. Longer term is a clear down trend but since the end of Jan there is a nice up trend and a clear area for strong PA to signal a long…