Forex Price Action

[monjorra]

CHFJPY H12 BEEB …Though price didnt reach day s/r zone …

[bhops]

Hello Monjorra!
I like the USD/CHF, I’m in it as we speak.
Good luck

I’m in the USD/CHF as well, good luck to us all, haha.

[Edmo]

Couple of things I should make clear. I am not in this trade - demo or live. The stop loss never bothers me because I use position sizing to a fixed amount per trade. What kept me away from the trade is the choppiness to the left. That is why I asked the boss about his opinion, whether that was enough to dissuade him from this trade. It was not bad choppiness either. hmmm. I am yet to hear from him on this count…

I never play with my position size. If the R:R bothers me and if the set-up is A+ in my books, I am willing to change the rules of the stoploss, like setting it under a significant support or above a significant resistance or a VBRN etc. etc…to acheive reasonable R:R instead of setting it at the other end of the PA pattern.

What usually happens 90% of the time is that I err on the side of caution and take the best position in the market - which is not taking a position ;). Hence am not in the EURCAD trade. The downside of being too picky is that you might miss out on a few good trades. For example, I must be the only follower of Johno who is not on the live USDJPY trade. In that case I simply did not like the size of the preceeding bearish bar in relation to the size of the pin bar… the last question I ask myself before taking a trade live is whether I feel good about it… and I did not.

All said and done I am happy with the one trade I do in a week. :)… All the best with the Yen pairs guys…

Raj

Next to Jonathon, my respect goes to you Raj

[marketdeal]

Hi everyone) 11/06/2013 CADCHF D1 short trade,Risk reward <1:1.
Reasons of entry

Trade management

Result

Thanks
Happy Trading

[AtaArticles]

Price opened nicely last night and i got straight in with a instant execution buy order.

Got my TP at 100.00 aswell with the SL at 96.00.

Remitu

USD/JPY shot down to 96.81 currently. You reckon your target profit at 100 was slightly too high.

[Remitu]

@marketdeal

Hi everyone) 11/06/2013 CADCHF D1 short trade,Risk reward <1:1.
Reasons of entry


Trade management


Result


Thanks
Happy Trading

You seem to be on a roll
Nice before and after shots with the explanation that goes with them

Remitu

[Dunn]

Which currency should I buy at the current time? As there are many changes in JPY, INR and others.

[Forex_School_Online]

@marketdeal

Hi everyone)10/06/2013 USDJPY D1 long trade,Risk reward less than 1:1
Reasons of entry


Trade management




Result


Thanks
Happy Trading

Nice one! So did you take profit as planned here and now out at break even? How are you managing the CADCHF Pin? Where are your profit levels are your major levels if price can really break the lows and get running through?

[traderamateur]

Hi everyone) 11/06/2013 CADCHF D1 short trade,Risk reward <1:1.
Reasons of entry
<img src=“301 Moved Permanently”/>
Trade management
<img src=“301 Moved Permanently”/>
Result
<img src=“301 Moved Permanently”/>
Thanks
Happy Trading

Good job mate. I have one question. Did the big bullish bar prior to the pin bother you before taking the trade? Kindly share your thoughts on this please.

Raj

[traderamateur]

Next to Jonathon, my respect goes to you Raj

Thanks mate. But I am just a student of the game. It is a privilege to be in the company of some cool and like minded PA traders like yourself.

[traderamateur]

I’m in the USD/CHF as well, good luck to us all, haha.

Hi Bryce,

Good to see you commenting. USDCHF seems to have worked well so far. Could you share your point of entry in this trade? I had felt that there was an intraday resistance zone between .9332 and .9330 thereabouts on the 4h chart. Hence my query.

Raj

[dollareuro]

I think a valid PIN bar formed on the USD/JPY now:
Tell me if I am wrong!

[dollareuro]

Here is a PIN bar (look to me) too on the daily GBP/JPY:

[cams75]

Here is a PIN bar (look to me) too on the daily GBP/JPY:

You are correct, a pin bar did form on most of the JPY pairs but that is 3 days ago so I am not sure what your point is.

[mttee]

that is pin bar, but dont tell me you going to make a trade when the price pull back to the top of the pin bar. there are no chance for you to re-entry, just let it go and wait for another opportunity. chase the market will make you lose. just be patient.

I think a valid PIN bar formed on the USD/JPY now:
Tell me if I am wrong!

[marketdeal]

You seem to be on a roll
Nice before and after shots with the explanation that goes with them

Remitu

Thanks for the motivating words pal) And yea CADCHF was my 7th consecutive winning trade.Being extra picky with the patience and discipline really pays off)

[Dava005]

Is anyone still being in play with usdjpy pin bar trade since monday? It did not hit my TP1 which was 99.90 and now I’m 110 pips down as speaking, still in play thou,my SL is 95.90

[marketdeal]

@Forex_School_Online

Nice one! So did you take profit as planned here and now out at break even? How are you managing the CADCHF Pin? Where are your profit levels are your major levels if price can really break the lows and get running through?

Hello Jonathan thanks and whatever success i am making today is just because of you and definitely all the credit also goes to you)
Yes i planned my USDJPY D1 long trade as usual.When i was in some serious profit i moved my stop loss to break even because the recent little bearish pressure and the overheard resistance was alerting .I know why you asked this question because the upper wick which is almost touching my TP is confusing.It actually didn’t touched it with the difference of two pips.And i took that screen shot later.
Sorry for not posting a screen shot about how i managed my CADCHF pin bar because i thought there is no need to as i posted here plenty of times about how i manage my pinbars/engulfing bars and 2 bar reversals.
I entered at the low break of the bearish pin bar and put my stop loss at 10 pips above the high of the bearish pin bar.
I just set my one and only TP level for CADCHF short trade which you can see on the screen shot .
I always plan my trade then trade my plan

[Remitu]

USD/JPY shot down to 96.81 currently. You reckon your target profit at 100 was slightly too high.

Hey AtaArticles,

Still in the trade as i haven’t touched my SL yet (still at 96.00) so who knows what can happen but i agree my initial target of 100.00 might have been reaching for the stars.

Watched Johnathon’s movie about the setup and saw he had his level marked at 100.00.
I was actually wondering where to put my level and thought 99.00 would be good initially but after looking at the movie 100.00 made more sense and i changed it (not blaming Johnathon btw :D).

Will see what the trade does eventually and then recap in my journal what went wrong/right.

Deffo something for me to learn from, wether win or lose, to take more time analyzing setups.

Remitu

[chisha]

Hello trademateur,
I couldn’t help but share with you my point of entry and exit in this trade because I was in it. I entered right on the break of the BEEB (I take snapshots of every trade when I enter, exit & when I move my stops as I manage it). I exited right on the blue line, that’s where my TP was.
I would like to hear Bryce’s view.

@traderamateur

Hi Bryce,

Good to see you commenting. USDCHF seems to have worked well so far. Could you share your point of entry in this trade? I had felt that there was an intraday resistance zone between .9332 and .9330 thereabouts on the 4h chart. Hence my query.

Raj