Thanks Bryce 
Also liked the EURJPY, but after candle close, have chosen the USDJPY pin
Cheers!
Hi Johnathon
Thanks for pointing out on the BRN.
Hi bhops
U may be right. Thought I see a swing low at 105.4 in D1 and it is also the lowest swing low for the whole month of Mar12.
Hey all,
I wanted to do a post just to recap some trades of the last month or so as in the last few weeks I have not had the amount of time to post in here that I would like. Now some of these setups have been posted I know but I want to emphasise some things to new traders.
Now when learning this method of Forex School Online’s the hardest thing to do is learning to idetify what an A+ trade is. The more time a trader can see them the better and quicker they will get at spotting them for themselves.
The three setups I am posting are classic and very simple price action setups.
AUDCHF DAILY BEEB
This BEEB was with the trend and price had pulled back to a very logical old support area. This old support acted as new resistance and price sold of.
GBPCAD DAILY PIN BAR
This Pin was not for beginners as it formed in a lot of chop (range). It did however form at a proven resistance and rejecting big round number of 1.600. Price sold of to the next support level where it found buyers and went higher. Traders in this were hopefully enough awake that they could see this level and either took profit, moved to break even or a bit of both.
GBPJPY 4HR PIN BAR
Very obvious and clean Pin Bar Reversal. This was once again not for the beginner as it was formed against the trend however Pin’s are reversals and this gave a huge clue price was looking to reverse.
If anyone has any questions please just let me know.
Johnathon
Surely there is some more opinions out there about this Pin Bar at old support which looks to hold as new resistance?
Comments? Trading?
Johnathon
Thanks for the analysis and showing me the flaw in my plan, dudest. I overlooked the point A that you mentioned and set my first profit target at your point B. But this is why I plan on demo trading for six months before using real money.
if i was at my computer at 5am my time (ny time) i would have taken this trade. this is the second a+ i’ve missed this week after the AUDSGD Daily setup on monday. keeping track of these though
Great spot Dudest. This was tempting but this time I will sit and watch.
My trading week is now done and I will start again next week.
I DO NOT trade the news but when NFP comes around I take a long weekend and have a few beers instead of look at charts. This weekend no beers but I will not be trading until next week.
Good luck on this one!
Johnathon
has anyone taken the US/Jpy yesterday… doesnt look good right now even if all conditions for a A+ were met…
Hi Crumpetis1!
All conditions…? Is it real A+?
How about the BRN 80000?
Regards
Hello Johnathon!
How about the PB on 4H EURCAD?
Rejected from an important level and from the swing low.
Might be a nice one on daily, tomorrow.
Any comments?
Trade?
Regards
This does look very solid and if the daily looks a little more bullish I would consider it. I am happy to watch the 4hr pin as it is very similar to the CADCHF just inverted. Both trading into a lot of candle highs/lows. The daily is from great level and if price can close bullish it would look to be a good signal. This is all subject to change of course until the candle actually closes.
What I should have said was all USD trade for me are now of the radar until Mon next week due to NFP.
Johnathon
Hello Crump,
I am in this one. The plan for me was to move to BE when price got to the very big round number of 80.00 which did not quite happen.
Your right this is not looking good at the moment.
I am unsure how long you have followed this thread but if it has been for a while you will realise a few things. 1: We all lose in here. None of us are magic. 2: It is how you manage the losses and your trades as a whole that counts. in other words individual trades do not matter. What does matter is your account over many many trades.
The last point I want to make is a point I quite often make. We can make the best plans in the world but at the end of the day what makes the price go up or down is by other people bidding the price up or down. The reason absolutely no one can know for sure what will happen is because of this reason. To know with 100% security you would have to know the exact orders and trade management of every person in the market! Possible? No.
This is looking like going on to be a loser as I type this but this is not the first and I can promise you it will be far from the last! The reason I go on and on and on about peole getting the processes correct and also getting into good habits is because like I said the individual trades do not matter. Traders can get away with making occasional dodgy trades and good trades also fail but what happens over all and over many trades is what counts. I can guarantee this: The person who gets away with the crappy trade occasionally will not get away with it over a long period of time but the person who is in good habits and always trades with the correct processes may lose a few trades but overall they will be profitable. It matters what happens overall! Not the individual trades.
I know I am writing this to you but I am actually writing it for a lot of people in here who get very wrapped up in each and every trade they play. they need to start looking at the big picture which will take stress of the individual trades.
I hope this clears it up for you.
Safe trading,
Johnathon
1 Like
Thanks for the feedback and NFP reminder Johnathon, appreciated!
Makes sense, lots of highs and lows…
Actually, I do not like to say something before the candle closes.
Thanks Johnathon for your reply and reminder about the NFP, tomorrow.
Nice weekend!
Hello everyone
I’ve been really working on my patience and discipline the last couple weeks and its been really difficult. To help me sit on my hands I’ve made a list of criteria/framework that I think should be met for a trade to be A+. I would like the input/comments of the advanced traders in case I have missed out something or misunderstood something.
[B]Trend: [/B]Trades should be in direction of recent momentum
[B]Key Levels: [/B]Only significant levels should be traded off. Significance of a level can be determined by a)No. of previous rejections of the level, b) Impact of price rejection on previous touches, c)Confluence (round numbers, trendlines etc)
[B]Price Action: [/B]Only take pinbars, engulfing bars and 2bar reversals off key levels. The size of the price action is very important
[B]Swings: [/B]Trades should only be taken a swing highs and lows on distinguishable retracements
[B]Problem Areas: [/B]Trades must have enough room to run before hitting problem areas
Input would be most welcome.
PS: Its alot easier to write this out than to actually follow it
From the quick look I have just had I think you have most there. In saying that happens when trading against the trend or from signals that fake the market out like on the 4hr EURCAD (and daily) or CADCHF?
Imo it’s a good trade. Not just that, it seems all CAD pair start to reverse.