Forex Price Action

[Kasravi]

i think we’re looking at different graphs. mine is GBP/EUR and yours is EUR/GBP. i’m going to post a picture of my graph now someone has told me how to do it.

I found a solution for you, in order to compare your charts precisely do the following,

GBP/EUR,

open your chart right click and go to properties-> tick show ask price instead of bid price.

Automatically your charts will change a little bit and voila you will have exactly the same levels just upside down,lol.
However you are better off using charts from brokers mentioned on the first post by Johnathon.
Hope that helps.

Cheers.

[Kasravi]

It’s new one, the one with ‘0’ before 13 and without prior posts counted:48: Funny things can happen, when you decide to change email…
Anyway, I want to tell you, guys, about backtesting PA - it turns out to be possible and easy. Just load LFH trading simulator (a tiny free ea for mt4) -

Hi Sergei,

You might find these two options useful too,

1. Google for ‘vhands mt4’ , you’ll find full instructions once you find it.

pros; you can trade an unlimited time frame

cons; you can’t change the timeframe , placing trades is somewhat unusual gotta get used to it

2. Forex tester 2,

A sophisticated software to backtest.

pros; ability to change time frame at any given time, speed control based on ticks or 1m candle close-1d candle close,
have as many charts open as you like on any timeframe.

cons; some limitations when using the free version.

Have a look at those if you are into backtesting, no harm in it.
But don’t loose out on forward testing while you’re at it.

Cheers.

[tjg4863]

does anybody have an opinion on how the USD will react to the latest new on Syria ?

[krugman25]

[QUOTE=“tjg4863;525408”]does anybody have an opinion on how the USD will react to the latest new on Syria ?[/QUOTE]

There are other forums dedicated to fundamentals and speculation based on news. The PA method taught here takes no news into trade consideration. Price is always reflecting everything that encompasses the value of the currency so there is no reason do anything other than trade pure price action. To keep the thread pure to Johnathons PA method taught here I say we avoid talking fundamentals.

[Kasravi]

There are other forums dedicated to fundamentals and speculation based on news. The PA method taught here takes no news into trade consideration. Price is always reflecting everything that encompasses the value of the currency so there is no reason do anything other than trade pure price action. To keep the thread pure to Johnathons PA method taught here I say we avoid talking fundamentals.

Thaaaank you!!!

[abc2005]

@Kasravi

Hi,

Setup I spotted for the comming week,

Eur/Usd Daily candle Pin bar,

There seem to be room to move before hitting serious resistance, whilst trading from the bottom of the range(1.3200 which has been rejected a few times lately) with a pin bar causing a false breakout makes it a decent setup. Bread and Butter for Price Action traders!

On top of that;
There are plenty of rejection candles on the Eur pairs favouring an upward movement, on the other hand pin bars have formed on Friday on manyUsd pairs suggesting weakness in that currency. That is why I go for the fibre long rather than Eur/Aud,Eur/Cad or Usd/Dkk, Usd/Nok which have formed PA signals too.

I would wait for London opening before placing any buy stops above the Friday highs.

Cheers.

This is 8h TF . Very Solid pinbar

[abc2005]

anyone took cad/chf ?

A question , I’ve 2 open position , I risk 1% per trade.
Can I take anymore trade ? How much can I risk at a time ?

Thanks

[Kasravi]

This is 8h TF . Very Solid pinbar

Indeed, but we tend to overlook price action signals that have been forming on the second half day of Friday.
Simply because they are not as reliable.

Cheers.

[abc2005]

true but It’s formed on Thursday (29/8) .
It’s 12H TF .

[Kasravi]

true but It’s formed on Thursday (29/8) .
It’s 12H TF .

HI,

Can you post your chart,please?

Cheers.

[abc2005]

HI,

Can you post your chart,please?

Cheers.

previous page :
http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action-1159.html#post525468

[Kasravi]

previous page :
http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action-1159.html#post525468

For some unknown reason images are not loading for me at the moment, however
i understand that you posted a H8 Chart.

I wanted to know how your H12 Chart looks like, for I cannot see any valid pinbar on that TF.

Cheers.

[chisha]

abc2005,
if you went back a few posts you will see that this setup was posted & we discussed it. It’s in your best interest to go through the posts that you have missed when you login so you can catch up. That way you won’t ask the same questions that have been asked & have already been answered.
The other thing is you need to take the time to study and learn money management. You should only risk what you’re comfortable losing. Let’s discuss:
1 Some people are comfortable losing 3% of there total equity on each trade or on all open positions. They can go about this differently either they open 3 different positions & risk 1% on each position (risking a total of 3%) or they can open one full position risking 3%.
2 Others are comfortable risking 5%, others only 2% etc depending on their risk tolerance. Some people don’t use percentages and are comfortable risking a certain dollar amount.
Money management & risk is a long and detailed subject on itself & it’s not discussed extensively on this thread. You have to carry out your own research, study & keep trying different concepts until you find something that works for you. I’m still learning. I hope my answer helped somehow, if not may be someone whose more experienced can answer your question.
Forex School Online offers advanced money management strategies in their course.

anyone took cad/chf ?

A question , I’ve 2 open position , I risk 1% per trade.
Can I take anymore trade ? How much can I risk at a time ?

Thanks

[chisha]

Hello Kasravi,
abc2005 is talking about the pin formed on CADCHF 12hr. I have attached an image below.

@Kasravi

For some unknown reason images are not loading for me at the moment, however
i understand that you posted a H8 Chart.

I wanted to know how your H12 Chart looks like, for I cannot see any valid pinbar on that TF.

Cheers.

[Kasravi]

Hello Kasravi,
abc2005 is talking about the pin formed on CADCHF 12hr. I have attached an image below.

\Hi Chisha,

Oww now this clears things up.I thought we were talking about Eur/Usd.

Well, thanks for clearing things up.

Cheers.

[marketdeal]

Hello[B] dudest[/B])I wanna ask a question regarding counter trend trades.What something more convincing you need for pulling a trigger for counter trend trades as compared to the trend trading?

[chisha]

I figured that’s what you thought.

Cheers mate!

\Hi Chisha,

Oww now this clears things up.I thought we were talking about Eur/Usd.

Well, thanks for clearing things up.

Cheers.

[Mideel]

abc2005,
if you went back a few posts you will see that this setup was posted & we discussed it. It’s in your best interest to go through the posts that you have missed when you login so you can catch up. That way you won’t ask the same questions that have been asked & have already been answered.
The other thing is you need to take the time to study and learn money management. You should only risk what you’re comfortable losing. Let’s discuss:
1 Some people are comfortable losing 3% of there total equity on each trade. They can go about this differently either they open 3 different positions & risk 1% on each trade (risking a total of 3%) or they can open one full position risking 3%.
2 Others are comfortable risking 5%, others only 2% etc depending on their risk tolerance. Some people don’t use percentages and are comfortable risking a certain dollar amount.
Money management & risk is a long and detailed subject on itself & it’s not discussed extensively on this thread. You have to carry out your own research, study & keep trying different concepts until you find something that works for you. I’m still learning. I hope my answer helped somehow, if not may be someone whose more experienced can answer your question.
Forex School Online offers advanced money management strategies in their course.

It seems like risk 3% at one time and not per trade if its like that.

I thought I can open a lot of positions with 3% risks in each of them.

[Sergei013]

Hi Sergei,

You might find these two options useful too,

1. Google for ‘vhands mt4’ , you’ll find full instructions once you find it.

pros; you can trade an unlimited time frame

cons; you can’t change the timeframe , placing trades is somewhat unusual gotta get used to it

2. Forex tester 2,

A sophisticated software to backtest.

pros; ability to change time frame at any given time, speed control based on ticks or 1m candle close-1d candle close,
have as many charts open as you like on any timeframe.

cons; some limitations when using the free version.

Have a look at those if you are into backtesting, no harm in it.
But don’t loose out on forward testing while you’re at it.

Cheers.

Ah, big thanks man!

[abc2005]

@Kasravi

For some unknown reason images are not loading for me at the moment, however
i understand that you posted a H8 Chart.

I wanted to know how your H12 Chart looks like, for I cannot see any valid pinbar on that TF.

Cheers.

here you go