Forex Price Action

[krugman25]

[QUOTE=“h3yn0w;500180”]

You’re right, that’s the technical definition. Personally I’d prefer to see it close high, or if not get confirmation on subsequent bar, which hasn’t happened anyways. So I’d still pass on this one:)[/QUOTE]

I agree, I too am passing on this one as there are sell signals that have formed on the 4 hour charts and the selling pressure over the past few week or so

[Spongybob]

Hey guys, anyone notice how many views this thread has?

Views: 905,747 WELL DONE JOHNO, closing in on 1 000 000 :59:

[TkMpZ]

Bearish engulfment bar occurs in a 4h AUD/CHF on a swing high, tp1 at near 0.8700. What do u guyZz think??

[jackson905]

To me it looks like the price action signal has formed in between the support and resistance. I like the bars and how to formed, but I would want to have seen it form higher.

This is weird,im using pepperstone MT4 and i dont have the same candle as you guys? O.o why is that…

[jackson905]

@Remitu

My take on the EURJPY pinbar that has formed (at a level i had marked already, the bottom blue line).

• Good size pin bar at swing low
• With overall uptrend
• Has space to move into (although not alot)

• Big bearish bar 2 bars before it
• Short term trend is down
• Trading towards RN 129.00 where price might stall.

(this for me was the best looking setup of the YEN pairs (with the pin bars)).

Here is my chart of this trade with a pending order to show my levels:

Entry = 128.20 (happens to be above a RN)
S/L = 125.84 (at recent support level)
TP = 129.80

I plan to move my SL to breakeven as soon as price reaches 129.00 (top blue line) as there is a resistance zone where price might stall. Final TP at 129.80 below the BRN of 130.00 which acted as support/resistance in the past few weeks several times.

Looking forwards to your comments on this setup.

Remitu

The reason i did not take that is because i watched the price struggle to close at the 130.00 this morning before new york close as well as some other JPY pairs. so i think most probably the JPY pairs are going down today

[jackson905]

@TkMpZ

Bearish engulfment bar occurs in a 4h AUD/CHF on a swing high, tp1 at near 0.8700. What do u guyZz think??

Umm feel that its very choppy, doesnt have “i want to trade it” that kind of feeling when i see it

[Remitu]

The reason i did not take that is because i watched the price struggle to close at the 130.00 this morning before new york close as well as some other JPY pairs. so i think most probably the JPY pairs are going down today

Price is indeed moving down but I have my entry at 10 pips above the pinbar so not entered yet.

If price continues to drop and go past my SL i will scrap this trade idea and remove my pending order.

Remitu

[Forex_School_Online]

Hey guys, anyone notice how many views this thread has?

Views: 905,747 WELL DONE JOHNO, closing in on 1 000 000 :59:

Yeah I gotta say I did not realise! That is a ridiculous amount of view huh! Kinda mind bongling! I do love this thread and the people though!

[marketdeal]

[B]Heads up everyone)[/B] Please stay away from the long orders on all yen pairs.A lot of faking bullish pin bars are appearing on yen pairs but in reality the historic up trend on yen pairs is loosing it,s power and right now there is war between bulls and bears is going on and we should not become part of this war.Watch it from the sidelines.
Thanks
Happy Trading

[forbiden]

Some opinions if EurNzd close BUEB?

[marketdeal]

Some opinions if EurNzd close BUEB?

Asking for my opinion or some one else opinion?And to which time frame of EURNZD you are referring to?

[forbiden]

Asking for my opinion or some one else opinion?And to which time frame of EURNZD you are referring to?

On 4H timeframe (Sorry), and I accept everyone’s opinion thanks

[h3yn0w]

On 4H timeframe (Sorry), and I accept everyone’s opinion thanks

Risks I see with this one at the moment. Just my opinion of course:

If you are looking at this as a BUEB, it should engulf the previous candle, and ideally the high of this candle should extend well above the high of the previous candle. The further this secondary candle rises, the stronger the signal is considered. If it closes higher it would be better as BUEB or even pin bar on the daily.
Looks like ranging and indecision just above and to the left.
I don’t see a good bounce off support. Would have like to see it form lower, closer to support at 1.6365

[forbiden]

Risks I see with this one at the moment. Just my opinion of course:

If you are looking at this as a BUEB, it should engulf the previous candle, and ideally the high of this candle should extend well above the high of the previous candle. The further this secondary candle rises, the stronger the signal is considered. If it closes higher it would be better as BUEB or even pin bar on the daily.
Looks like ranging and indecision just above and to the left.
I don’t see a good bounce off support. Would have like to see it form lower, closer to support at 1.6365

Thanks for the opinion

[fortunatus]

Yes marketdeal, i agree with your opinion. just like the first pin bar that was traded on sunday, it lost all the profits it made the following day plus this new pin bar that failed indicates a strong pressure between the bulls and bears

[B]Heads up everyone)[/B] Please stay away from the long orders on all yen pairs.A lot of faking bullish pin bars are appearing on yen pairs but in reality the historic up trend on yen pairs is loosing it,s power and right now there is war between bulls and bears is going on and we should not become part of this war.Watch it from the sidelines.
Thanks
Happy Trading

[ppchrispp]

Price is indeed moving down but I have my entry at 10 pips above the pinbar so not entered yet.

If price continues to drop and go past my SL i will scrap this trade idea and remove my pending order.

Remitu

My entry didnt trigger and i have closed the order.

If entry does not trigger, when should I close the order?

should I wait until it hit the SL which is what i did in this case. or should i wait for another candle stick to form ? or should there be a time limit?

not too sure which is the best option

[dudest]

@ansunirmal

AUDUSD BEEB 4HR chart

@h3yn0w

Hi there. Just sharing what I have on my chart. I’m also looking for a short signal, however I’ve got a potential SR line not too far below where it’s at now. Good luck.

…frankly, i’m hoping audusd bursts thru those resistances like a rocket thru clouds!

[dudest]

This is weird,im using pepperstone MT4 and i dont have the same candle as you guys? O.o why is that…

Compare with the pair’s chart on Live stock, index, futures, Forex and Bitcoin charts on TradingView

If tradingview has it, then consider switching to Axi or HotForex or RoboForex charts

Cheers

[marketdeal]

@dudest

Compare with the pair’s chart on https://www.tradingview.com/e/

If tradingview has it, then consider switching to Axi or HotForex or RoboForex charts

Cheers

Hello dudest) A few months ago i saw your post about the MPTM trade manager where you have also told about the another method of opening of different positions for splitting risk and taking partial profits.Now i can,t find that post i tried but can,t .These days i am actually trading futures with the FXCM where i can,t took partial profits by closing part of my existing position.So i think the only way to do that is by the opening different positions.But now i am not clear about how that method really works.Can you please explain that again?

[Remitu]

My entry didnt trigger and i have closed the order.

If entry does not trigger, when should I close the order?

should I wait until it hit the SL which is what i did in this case. or should i wait for another candle stick to form ? or should there be a time limit?

not too sure which is the best option

I would say as soon as price reaches your SL your trade idea becomes invalid.
Price has moved where you didn’t want it to go.
That is what i use to determine when i close down a trade.

Using a fixed amount of time i wouldn’t recommend as the market doesn’t take this into consideration as it moves.

I would say as soon as SL is hit the idea is invalid.

Remitu

Ps. I closed down my trade order aswell.