You are right, I simply forgot to check for trend:29: It’s enough to mark the setup as not an A+. Thanks!
What do you think about this EUR/JPY pin in a daily TF? Along the downtrend momentum, swing high rejected 129 and good size, A+ setup??
I wonder anyone notice that or not. There is beeb on eurusd and gbpusd weekly chart
Do you see any key S/R levels on the weekly that both pairs would be trading into? I am also looking to short the EURUSD but on the daily, and waiting for a retrace up to the 1.3200 – 1.3250 area to give us more room to trade into.
for gbpusd, there is a resistance line on 1.57188
Yes, it just looks to me that this BEEB has formed the wrong side (trading into support) of a level which has held pretty well since 2008. On EURUSD Weekly, 1.3100 is a significant S/R level and from the looks of the candle that’s forming for this week, it’s being respected again.
OK, my newbie opinion.
I just don’t have SR line there (but I consider it to be a First Trouble Area).
Good luck to you!
PS mine SR are 125.600 and 130.900
WTH is this??
SILVER currently at 1981. Dafug?!
I basically cannot read any pattern on silver due to this long loong looong looooooooong super loooooooooooooooooooooooooong bar.
I meant SILVER
Im with alpari uk demo MT5 chart btw, does anyone experience this? or issit just me?
Just you mate. Something wrong with your charts…
PS: This is why you always have 3 or more charting packages set up and on the go ready so you can always check and cross reference if you ever want to check anything if you ever need to. You never want to have to rely on anyone else for anything if at all possible. You especially don’t want to be waiting for people to reply in forums because you don’t know how long they will take or if they will and how good the quality of the reply will be. Always best to rely on number one.
All, have a look at GBPCHF 4HR
Nice pin bar forming at swing high for a short position. It’s with the trend on the 4hr, and I have the pin bar at both a strong trend line and S/R level.
I’m too lazy to post the chart 
But I’ve been watching this one for a while waiting for it to swing back to the trend line and SR.
hey h3yn0w
i’ve been eyeing it too. how are you looking to manage the trade as price looks choppy below?
Yes, the choppiness below is a concern.
My approach to this trade:
1/ Enter early. The bounce at intersection of trend line ans S/R was enough confirmation for me, but this does goes against some of the recommendations in this thread about price break and confirmation.
2/ SL. Tight SL. If the trend & SR line breaks, my reason to be in this trade is false.
3/ TP. I’m hoping for the trade to touch the bottom of the channel I have drawn, but I’m expecting it to get stuck in some ranging in the choppy area and will take some profits there.
I am looking at this pair too, the 8hr TF also shows a PB rejected 1.4500. The trend is sideway down, so if my entry triggered, I will have the trend going with me. Due to some traffic in 1.4400, I will take half profit there and move the rest BE.
Hi everyone) 25/06/2013 XPTUSD(future)(aka platinum) H4 long trade,Risk reward >1:1
Reasons of entry
Trade management
Result
Thanks
Happy Trading
That is some serious counter-trend trade. I don’t trade this pair, but if I were I would be looking to short it.
Hi rubenE) I have a simple way for executing counter trend trades.At least two tops/bottoms plus a very strong price action signal capable to reverse the price .And in that trade i had both factors in my favour.
I think that Eur/Gbp is bracing up for a breakout. Its a weekly chart, but I consider the PA there more reliable. I try to look at every trade as a short time investment, so with good MM, patience is required. Its hard to sit and wait, but reward is always huge. Safe trade.
Hi Edmo, what kind of PA will you be looking for here? A pinbar rejecting one of the levels you’ve drawn?
Hi Tomyates, my advice is, back to babypips. Checkout Rising and Falling Wedges. It may help.
Firstly, this looks more like a symmetrical triangle than a wedge to me. My question was geared more towards whether you were just going to play the breakout or look for PA to confirm.