Forex Price Action

Trading Systems Free Forex Trading Systems
12467

Hi guys,
there are BEEBs that seem to be forming on AUDSGD & AUDUSD. Let me share my concerns & tell me what ya’ll think.

  1. AUDUSD: Price previously formed a double top at the round number 0.92000 & reversed, making this a resistance level. My concern is that it might act as support. I don’t like that the bar before closed above resistance.

2 AUDSGD: The BEEB that seems to be forming is sitting on the round number 0.17000. I don’t like that the bar before closed above resistance. The area I’m expecting price to stall is at the level I’ve marked the red line.

Now I know there’s still some time left for the candles to close but it’s always a good idea to “mark” a pair and make a plan before NY close.

All comments are welcome.

audsgdxxx.jpg700×328 27.1 KB

audusdxxxxx.jpg700×329 31.7 KB

12468

[QUOTE=“EternalNewB;530590”]What about this EUR / USD 4h chart ?to me it looks like it closed above S/R and it will bounce and go higher

what do you think ?
<img src=“301 Moved Permanently”/>

Same with this CHF/JPY 4 h chart

<img src=“301 Moved Permanently”/>[/QUOTE]

Where are the price action signals that quantify your presumptions?

12469

[QUOTE=“cheene;530725”]Saw this on AUSUSD 4Hr Chart. It’s against trend. Since I am on mobile, unable to verify previous resistance.

<img src=“301 Moved Permanently”/>[/QUOTE]

That is not a technically valid Pinbar reversal. Wick is 3x too small. Are you seeing this as a beeb?

12470

[QUOTE=“PIPOFF;530691”]Aud/nzd weekly pin.:33:

<img src=“301 Moved Permanently”/>[/QUOTE]

Pin bars are traded as reversals not continuations my friend :slight_smile:

12471

That’s a nice way to put it.:54:

12472

[QUOTE=“Kasravi;530922”]

That’s a nice way to put it.:54:[/QUOTE]

:wink: we are all still students of the game,but i think people (including myself) should read and heed the posts by senior members and those more experienced over the last few days regarding the quantity/frequency of quality setups over a given month. I think I counted about 5 different pair postings since the posts I mentioned…

12473

No please do hit me hard let me learn

For me it was the PA that it will retract to the S/R and then bounce up and continue its trend…

12474

The most common PA signals discussed that we trade here to produce the highest probability setups are:

-Pinocchio Bar Reversals (pinbar)
-2 Bar Reversal
-BEEB, BUEB (Bearish Engulfing, Bullish Engulfing)

12475

one day I will post something useful that’s a promise

until that day thank you for bearing me :smiley:

AUD USD 12 hour chart this is a Bearish Engulfing bar no ?

Good enough to short or too much noise below ?

2013-09-12 16_31_20-14744 - [AUDUSD,H12].jpg700×397 46.4 KB

12476

Don’t be so hard on yourself, this is not easy. If it was, everyone would be driving around in $100,000 cars with no money problems man. Just research and learn as much as you can. Think about it like this: Why are you here? Ask yourself that every single morning when you wake up. What are you trying to accomplish by interacting on this board and trading forex? Are you trying to “get rich quick”? Or, are you trying to harness the power of the internet to interact with professional traders, experienced amateurs, and newbies like you and I, to learn how to trade FOREX in an unprecedented manner. A manner which is going to produce profit over time, not over-night…

12477

These are some trade to be looking out for good price action signals to go long.

EURJPY.jpg700×295 21 KB

GBPJPY.jpg700×292 23.3 KB

12478

Thank you for sharing, on the EUR/JPY you are planning to go long ? I thought it was like gowing down yet it is against the trend right ?

For GBP/JPY can you please explain why looking for long? you think it will go even higher ?

Care to share your entry points SL and TP ?

Also could you take a look on my AUD/USD chart?

thanks

12479

Deleted

dupe

12480

I have both pairs on my watchlist. I really like GBPJPY if we can get a PA signal around the current level or ideally 156.60.

For EURJPY the resistance around 132.55 bothers me

12481

Anyone shorting Usd/Chf?

Cheers

12482

I got in @ .93337, but closed the position out yesterday.

12483

I am TP at .9210 sounds correct ?

12484

Sounds not bad, be cautious though,price was spiking prev. in that area.

Cheers.

12485

sorry to ask again what would be a sure one ?

12486

Maybe a recap would be of use, so here is what my guide says in short, with a few images which will help.

So, if price breaks a resistance level in an uptrend, we wait for a pullback, the old resistance level now becomes support, so we wait for it to retest the support (old resistance). If we see valid price action to go long, we set an order, if not, we don’t trade.

Here are some examples of setups I would trade.