Here’s how I’d decide, ask yourself two questions:
1)What is the trend, or, What is my bias?
2)Does the current candle confirm, or go against my bias/trend?
Trading becomes simpler no?
I am in too
Although my trading style do not match on the theme of this thread, I will still watch the buy low and sell high techniques…
Price just break out a short consolidation zone n push down quite hard. If to go long, the PA has to be really big n obvious to be convincing that big buyers are behind. Just my thought
Jack
Sarbualex,
I have a different point of view, I see NZDUSD is in a resistance and look for short signal. What do you think?
I also see it as a short looking @ daily chart which is what i usually base my decision on.
Dont know, at the moment i am watching H4 candles formations.
Maybe Johnathon can share his opinion on this.
[QUOTE=“sarbualex;514328”]HI, NZD/USD is at support.
<img src=“301 Moved Permanently”/>
Waiting for a good PA formation to go long.
Safe trading.[/QUOTE]
I’ve been in this short to here from resistance just below 8100. I’ve taken profits here and moved stop to BE. If this holds and I get a decent PA candle I’ll switch and go long too
I think u draw the S/R line based on H4 chart right? Is better to draw it using D1 chart then look down at H4.
Hello everyone,
Here is another trade i took last week and it just closed down today.
AUDJPY - BEEB from resistance
- Price was ranging lately but was bumping against the top of the range (3 preceeding candles to the BEEB).
- Overall trend still to the downside
- Size was OK looking at the previous candles but i have to admit it did make me think twice about the trade.
Trade was managed like this:
Entry = 91.550 (10 pips below the BEEB’s low)
S/L = 92.850 (10 pips above the BEEB’s high)
Target = 90.050 (just above the BRN (and recent lows) and at the bottom of the (small) range price was in).
I planned on moving my S/L to BE+5 when price went below 91.00 as i felt price might find support on the BRN and i wanted to protect my investment as soon as reasonably possible.
Trade closed above 91.000 on friday (which had me worried abit but sticking to the plan).
It was good to see price gap past 91.000 on monday morning and hitting Final Take Profit several minutus ago.
Only had 0.01 lot on this trade due to MM rules (on demo but treating it like real money) so it closed down the entire trade when FTP was hit.
Final profit was: +150 pips
On a sidenote: That makes it the 5th trade in a row to turn a profit which is great for confidence 
I would love to hear anyone’s opinion on the trade so i can learn from it for the future.
Remitu
Debate a lot with myself on this n gave it up due to the OK size engulfing bar. Gd trade Anw! Can feel ur happiness on gaining confidence part 
I personally have marked this level for shorts from daily chart, see chart below. Anyway, it’s just my point of view :59:
I also have the exact same line drawn and waiting for a short opportunity, let’s hope we’re right :51:
Hey Remitu, i took the same trade and entered at the same price, i took 2 positions, closed one alreday, moved my sl to +30 pips profit and now it´s at +150 pips, i´m not sure if close it or see if it drops further, but price have bounce 2 times already from the area is sitting at now… so maybe i should be happy and bag the pips…
Anyway, im still learning, and have a lot to learn, but good to see that someone took the same trade than me!
Nice!
If i had 2 positions i would prolly aim for the second one to reach 89.35.
Price reached our first logical area so it is hard to say what will happen next.
Did you have a plan in mind for the second position?
Before entering the trade i mean 
Remitu
Well, my trading plan is still a work in progress, i´m still on demo.
What i usually do is, enter 2 positions, each one with a 1,5% risk, so for each signal, i risk 3%, for the first position, i set a TP, and once reached, i move the SL of the remaining position to BE or some resistance or support away from price and if price keeps moving my way, i just keep moving my sl. to the next resistance or support (depending if is short or long)
My english is also a work in progress so i´m not sure if i explain myself correctly 
If not, just let me know an i will make a screenshot with an example.
Also, i´m not sure if it is a viable trade plan… would love to have some feedback on it.
Cheers!!!
I’m looking at the same level to go short
nice to know we’re thinking along the same lines!
What does everyone think of the set up on Eur/Aud Daily? Bouncing off support at the moment, candle hasn’t closed yet but i’m looking at a short if it’s a nice pin bar/BEEB?
here’s what i’m talking about:
comments/advice welcome