everyone in here is allowed there opinion and I am definitely not going to dispute how people see things.
What I would say about these particular trades and for looking forward. The formed quite low to the recent lows. The were not from swing highs. Now that is fine when price does break the support area and keep moving on swiftly but the problem comes in when the support holds. It is the same as a taking a trade right into a support zone and hopeing for it to break if you get my drift?
I would love to add some charts but really busy at mo and will talk later when I can.
It looks like it failed to break the resistance at .9143 and looks to be forming a pin bar. A break above .9210 looks to be a buy with the first tp at the 50% fib and then the .618. There seems to be a lot of confluence at this level.
Let me know if I am on the right path here. I need to learn! haha thanks!
Please take those moving averages off, they just going to confuse you. :22:
You have pretty good S/R levels there, now if you wanting to long you looking to long at swing lows, if you looking to short you looking to short at swing highs.
I have seen his website, but never really spent time there. I have used them in the past and they worked as levels of S/R but I will say they kind of crowd my charts. I guess thats what happens when you are used to having naked charts.
Johnathon and Bryce (bhops) usually do this alot better, but iâll give it a try.
2BR
-> 2BRs occur when two bars (bearish and bullish) form as mirror images of each other. When formed at swing high/swing low, the pattern could indicate a reversal is about to happen
Engulfing bar
-> Like the name implies, an engulfing bar completely engulfs the bar before it. When formed at swing high/swing low, could indicate a reversal is about to occur.
Tried to get a chart that had both, this is the quickest i could come up with:
=> PS: Iâm assuming youâve read this thread from the beginning (!) If you havenât, I highly recommend it. Youâll see lots of live/hindsight charts posted having 2BRs and EBs (BEEBs and BUEBs)
=> Also, check out Johnathonâs free videos at Video | Forex School Online Youâll find those setups covered there as well.
Hi Dudest i wouldnât have taken either personally.
Just too choppy on the Daily at the moe and the 4 hour really lost all its steam with the one big bearish bar. Doesnât really âpopâ to me and trading back into lows. Easy pass.
If you mean the âPinbarâ on the 4 hour for me not in a 100 years was that a compelling enough piece of PA to trade.
Donât get me wrong the level was really nice but this thread is âForex price Actionâ and as such that really wasnât a big enough PA signal to trade, maybe you couldâve touch traded that level but then that is a whole nother thread :54:
It wasnât the âpinbarâ alone that I was looking at. That was just an indecision candle. If you combine the 2 candles surrounding the pinbar I think thatâs pretty decent price action. Combining the 3 we have a strong pinbar on a â12 hourâ candle donât you think? I donât know how to put up 12 hour charts so I just kinda do it in my head.
Combining or candle blending sometimes gives us the PA we seek but not always. Iâll post up the 12 hour version.
As I say donât get me wrong, a really lovely level to play from, but respectfully Iâll disagree, the PA around this level didnât scream long or loud enough to be traded. At least not for the style of trading we are trying to endorse in this thread.
It is frustrating I know when you have finally reached a level you have had marked out, sometimes for days, and to then not get the level of PA you had hoped for, but as Johnathon is trying to endorse, it is those who have the discipline to sit on their hands and wait for all the stars to align who will consistently make money over time.
