Forex Price Action

[Dekpips]

Thoughts on GBP/CHF D1? Fantastic pin bar formed at resistance

[Panupat]

Hi everyone. Comment on S&R I’ve drawn on couple EUR pairs, please? As I’m learning I drew a bit extra lines and not just 2.

EUR-AUD

Blue lines I zoomed out on daily. The top one acted as resistance before in 2010. The bottom one I’m not sure?
FxPro EURAUD D1 YNf5n | cTrader

Black lines seem to be where support turned resistance recently.
FxPro EURAUD D1 GNf5n | cTrader

EUR-CHF.
Top and second line seem to act as both S&R this year. 3rd and 4th didn’t seem very clear.
FxPro EURCHF D1 jNf5n | cTrader

EUR-GBP
Can I ignore some of the less clear lines such as the 2nd line from top? Price also seem to be sitting right on top of another S&R line?
FxPro EURGBP D1 zNf5n | cTrader

EUR-JPY
FxPro EURJPY D1 cNf5n | cTrader

EUR-USD
Marked the top line as it’s the recent high. Zoomed out a bit and found 2nd line to act as resistance a few times. The rest are lines that had acted as both S&R recently.
Also noticed a nice big EB bouncing off support but right into resistance. Would this be considered a retest to go long with the trend?
FxPro EURUSD D1 BNf5n | cTrader

EUR-CAD
I found quite a lot of levels that acted both S&R as I went lower… is it necessary to draw all those lines if you’re trading from near by position?
FxPro EURCAD D1 HNf5n | cTrader

[sett_burana]

choppy on the left, against the strong up trend. PB closed didn’t pass my level.IMHO

@Dekpips

Thoughts on GBP/CHF D1? Fantastic pin bar formed at resistance

[bearOZpips]

i noticed the size as well and lowered my risk. decided to split my risk across the aud/chf pair as well in case that order fills. alot of potentials this morning.

Hi, its a valid BEUB however i think the BEUB is rather small for my liking therefore i didnt take it. Also there are some resistance below.

But nonetheless, it may still work out for you.

Gd luck!

[abc2005]

Nice spot!

Formed right at my level too.

Had I seen it, my only concern would have been BRN 0.8500, but glad to see it finally got through that.

The D1 is also looking to close as a nice BEEB ( 1 hour to go )

PS: are you in the H4 BEEB trade? how are you managing?

Cheers

hi , thanks dudest
yeah , I took the trade on 4h yesterday .
I opened 2 position on this trade , the first part got tp on 55pips and the other part is still open .p2 is on break even .
the second tp is set on 110 pip ,only thing that concern me is the doji on 4h timeframe that has formed near the S/R level .is it important ?

about nzd , I didn’t take the trade because the risk/reward wasn’t good , It need 94pips stoploss and it was very close to a Solid S/R level .

Thanks

[shane]

GUys, USDSGD D1 formed a pin bar too ~

[bearOZpips]

gday everyone. anyone take the nzd/chf trade? not sure if its an a+ trading into some resistance and not a very large pin candle plus not really trending either way.

[abc2005]

nzd/usd
Trade on solid S/R level .
Very Clear BUEB on S/R
I opened 2 position . First Tp on 0.800

Any suggest ?

[abc2005]

Gold waiting for a pullback

[iJan]

Did u take the BEEB on last nigh?

nzd/usd
Trade on solid S/R level .
Very Clear BUEB on S/R
I opened 2 position . First Tp on 0.800

Any suggest ?

[abc2005]

Did u take the BEEB on last nigh?

no I didn’t , because of the very big stop and bad risk/reward

Today ,we got another one and I’ve inserted my orders .

[Diablo1505]

Well, the BEEB trade on the AUDCHF looks good so far:

But i got stopped out by only 6 pips on the NZDUSD. But like abc2005 said we have another BEEB that formed at the same level again.

A normal reaction to this situation on the NZDUSD would be not to take this new setup due to fear because the first setup did not work out. Personally i think one should treat this new setup like every setup out there as long as it is valid according to your trading plan no matter what short term history you have with the particular pair at this level. That means i will take this trade also, if my entry orders get triggered that is. Interesting situation.

What do you guys think?

Would you take this trade?

[aleksihe]

@Diablo1505

Well, the BEEB trade on the AUDCHF looks good so far:

But i got stopped out by only 6 pips on the NZDUSD. But like abc2005 said we have another BEEB that formed at the same level again.

A normal reaction to this situation on the NZDUSD would be not to take this new setup due to fear because the first setup did not work out. Personally i think one should treat this new setup like every setup out there as long as it is valid according to your trading plan no matter what short term history you have with the particular pair at this level. That means i will take this trade also, if my entry orders get triggered that is. Interesting situation.

What do you guys think?

Would you take this trade?

My thoughts are exact same. I get stopped out and now I have orders pending again

[bearOZpips]

Order was filled on the cad/chf D1 timeframe

[rcreddyvanga]

@Diablo1505

Well, the BEEB trade on the AUDCHF looks good so far:

But i got stopped out by only 6 pips on the NZDUSD. But like abc2005 said we have another BEEB that formed at the same level again.

A normal reaction to this situation on the NZDUSD would be not to take this new setup due to fear because the first setup did not work out. Personally i think one should treat this new setup like every setup out there as long as it is valid according to your trading plan no matter what short term history you have with the particular pair at this level. That means i will take this trade also, if my entry orders get triggered that is. Interesting situation.

What do you guys think?

Would you take this trade?

AUDCHF h4 chart - BEEB formed at key support. looks perfect.

[rcreddyvanga]

I have recently started trading on Demo account.

USD / JPY H4 Charts
Trend is Bearish
BEEB at key Support.
Traded below the low of BEEB.
My charts are not New York closing.

Chart USDJPY, H4, 2013.08.16 13:07 UTC, ADS Securities LLC, MetaTrader 4, Demo - MetaTrader Trading Platform Screenshots

Chart USDJPY, H4, 2013.08.16 13:07 UTC, ADS Securities LLC, MetaTrader 4, Demo - MetaTrader Trading Platform Screenshots

I would appreciate your suggestions.

[chisha]

Hello Rcreddyvanga!
If your charts are not New York close the information you have is different from what those of us using NY close have. You have to start using NY close charts for this method. There’s no way around it. If you like your broker you can just download NY close chart for analysis and sharing posts on here.

I have recently started trading on Demo account.

USD / JPY H4 Charts
Trend is Bearish
BEEB at key Support.
Traded below the low of BEEB.
My charts are not New York closing.

Chart USDJPY, H4, 2013.08.16 13:07 UTC, ADS Securities LLC, MetaTrader 4, Demo - MetaTrader Trading Platform Screenshots

Chart USDJPY, H4, 2013.08.16 13:07 UTC, ADS Securities LLC, MetaTrader 4, Demo - MetaTrader Trading Platform Screenshots

I would appreciate your suggestions.

[HeriFx]

Hey Guys What dou you think about this

Price Bounce when break support and going to resistance leve

l

[abc2005]

@HeriFx

Hey Guys What dou you think about this

Price Bounce when break support and going to resistance leve

l

You are trading against the market , for me it’s very very bad set up , Actually I’m looking for getting short on 0.9300 , the last S/R level + Round number and in the market direction .

Good luck

[HeriFx]

You are trading against the market , for me it’s very very bad set up , Actually I’m looking for getting short on 0.9300 , the last S/R level + Round number and in the market direction .

Good luck

if you say then market really going up to rally to 0.9300 then sell at the round number:D