Thanks Tom,
it is rare for people here to post charts other than daily or 4hr.
Thanks dudest. Get it more clearly now.
Hallo!
Yes, I think itās better to look for SHORTs at the top of the range ( + low of BEEB is very close to recent support )
[ or maybe wait for range to be broken either way; these low volatility times are trickā¦ ]
Cheers
[QUOTE=ātomyates;511182ā]
No, I donāt think so. Those higher timeframes will give you tradeable signals too. There are probably fewer traders overall who have access to those charts, and so you could argue that the 4HR and Daily are more reliable in that sense, but in practice those higher timeframes often work out great.[/QUOTE]
Youāre forgetting that retail traders have very little affect on price movement, our positions are tiny compared to the large institutions, hedge funds etcā¦ and all these guys will be using state of the art charting platforms and tech so to assume that most traders donāt have access is really logical IMO
Hello Bobba,
on the contrary you will see that people here do in fact post 12,8 & 6HR charts. So there is no reason not to look at these time frames before going to 4 hour but like Tomyates said most traders are looking at 4HR because it comes standard on most platforms. So what most of us who trade the 4HR chart do is look for signals on the 4HR & if thereās nothing we go up the 8HR & so on.
Hi Chisha,
that is where i am getting confused.
I am marking the S/R on the daily and when price moves to S/R on the daily, i scroll through the decreasing timeframes looking for PA signals assuming that to trade off the highest possible timeframe would be best (given that the PA is A+)
Having found "Manage Forex Trades Using Key Price Action Time Frames " at forexschoolonline.com all the answers are there.:rolleyes:
Think i will do a bit more readingā¦
Guys , have a look on this . EURNZD D1 chart forming a bullish pin bar. Is that a false break pin bar?
Hey Shane
I am new to this but I think the pin bar is good but not great. If it was a bigger than the signal would be much stronger
Also just wait for it to complete as that will give you a better opinion
Other than that. Itās forming in a good support level that has been tested in the past. I think the support is a round number if I saw it correctly which is 1.65.
Lastly it is with the overall trend so ya in my view it seems tradable
My apology if Iām not correct.
Just want to learn and contribute 
This CADJPY monthly chart, strong resistantā¦ pls comment
Yea we need some serious discipline and patience these days.
The price on wheat CFD,s was on a very interesting area but on one cfd the huge bearish pin bar on a daily chart didn,t open and close with the previous bar and the bearish pin bar formed next to it didnāt stick out so for me it,s an easy pass.Also on some other wheat cfd,s there was big pin bar wicks at the trading direction so also let them go as none of them meets my trading criteria.Glad if you already cleaned your hands on those setups as price moved down swiftly)
Guys what you think about this ? i expect gold to reach that massive resistance at 1300 and then fall as a rock
Hello Tom,
I recently talked about the key exact level in this market with another member who was trading straight into it similar to how you were with this BEEB. See this previous post here: http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action-988.html#post508458
The last candle on the chart is only the last candle. All the other candles are what makes the price action story and the story is what is most important. You say in your post that the BEEB is at resistance, but I can see that price is rejecting a very minor level, but sitting on a very key support level. This support in recent times has acted as both key support and resistance and has been well respected. You will also notice that the bottom of this BEEB moves down to test exactly this support area. If you move to the weekly chart or zoom the daily chart out you will also notice this key support level is also a longer term key level.
What I am getting at is the level you were trading into is a major support level that has been tested and proven time and again and looking to take trades into it was possibly not the highest probability play. Price did not break the lows and you would not have been entered into the trade, so no loss was taken so nothing to worry, but I thought I would post all the same, just for next time. It should always be remembered that the price action story is always more important that the last candle.
GOLD DAILY CHART
Safe trading,
Johnathon
Hi Johnathon,
Thank you for this thoughtful response. I think the key issue here is where Iād drawn my level. Seeing there had been a longer-term downtrend, I was looking for a swing high into resistance to get onboard, but in doing this perhaps I was ignoring the rest of the story - being the higher highs and higher lows.
EURNZD D1 false break pin bar formed.
EURNZD 12H showed a bullish pin bar too.
I posted before EURNZD D1 at previous post. Just to repost because I found out the 12H formed too.
At the same time, I did notice the EURNZD H4, will this counted as 2 bar reversal? Since if I combine both the bar it showing a bullish pin bar.
Heya Shane,
before I go on just keep in mind on Mondays we donāt trade anything below daily setups until the UK opens up so that makes all your other setups pretty much invalid so I would worry about them too muchā¦ The reason for this is because if your are going to trade them is you will be opening a EURO trade when all the of the EURO region is still in their beds and the whole Euro market is closed. You will be in a intraday trade before they are open and then they could open and go bam and completely change the direction of your trade.
The daily is different because the daily candle has to trade through every region. The daily candle has to go through Asia, Uk/Erurope/US etc SO the basic rule is On the Monday nothing lower than the Daily candle. The other major reason we do not trade the last 4hr candle of the week is because we donāt know if the last 4hr candle is a real valid reversal candle or if it is a profit taking candle i,ie people leaving the market and closing trades before the market closes. Obviously we donāt want to be getting into false trades that have been created from people just getting out of the market to close trades before the weekend and so we just donāt trade the last 2x 4hr candles of the week.
From reading from your post and your email you have sent me, I can gather your are pretty keen on this trade and that your are looking to trade this setup. Good for you! No matter what I say or what any one now says it is very important you stick to your decisions now. I am guessing you are on a demo account so it is important you make the trade if you have decided to make the trade and stick to your own decisions.
It is def a pin and from a a clear support level. It is not a false break pin bar though, because it is not making a false break of anything. One of the highest probability plays is the false break pin bar. This here on the EURNZD is a pin bar from support. It is a valid setup. It would be a lot stronger and higher probability if it formed down lower closer to the support level and stuck out away from price, if it did not have a higher wick on it, if it was a lot bigger and if it was with the trend. As it, it is still valid, but to answer your question; no it is not a false break.
A FALSE BREAK EXAMPLE BELOW:
Hope this one shoots higher for you this week!!!
Safe trading,
Johnathon
Nice explanation Johnathon. Pretty clear now. Finally I understand the false break pin bar. I will trade this pin bar setup, since I already made my decision . Thanks for the information. Really still got a lot to learn. =)
Regards,
Shane.
Now the markets are open for the week I am watching the AUDNZD 4hr charts like a hawk to see what price does if it moved into this resistance areaā¦ Recent trend and all momentum has been all down and this level and has been a haven for bears to push price lower so it will be interesting to see what price action we get if price can rotate higher back into this hot zoneā¦ This chart is firmly on my radar at the moment as a high probability spot to take short trades.
AUDNZD 4HR CHART
Safe trading this week to all!
Johnathon
hindsight is 20/20 but if you had checked the daily and weekly for this pair you would have seen the strong bullish momentum (large bull candles and price is on the move up). just by looking at the 4hr this would be countertrend as it is
what i would look for is a 4hr signal like this backed up by daily and possibly weekly momentum in the same direction