Hey Sarbualex
I am still learning but my take on it would be that you may be trading into a possible line of support by going short here, also AUD/USD is currently up trending and so you would be going against the trend. I would be waiting to see what happens at this particular plateaux.
B A
PLEASE IGNORE ABOVE COMMENT…JUST REALIZED THAT I WAS LOOKING AT THE WRONG CHART. AUD/USD APPEARS TO BE TRENDING, BUT I STILL HAVE IT ABOVE A LEVEL OF RESISTANCE WHICH MAY NOW BE ACTING AS SUPPORT?
On my chart, it’s 1 pip shy of being a BEEB 0.9386 High on first candle and 0.9385 High on “engulfing” candle.
Yves
USD / JPY 4h Chart 2 bar reversal and not CT 
what do you think ?
sorry posting so much trying to see if I can catch the setups
Yes i see it now, I will wait thill the D1 close, maybe it formes an PB.
Question: how do we procede if it formes an PB but there is an gap and the PB doesnt close in the previos candle?
I would even call it a BUEB ! But resistance ahead worries me a bit !
Yves
Thank you Yves, you are thinking way ahead of me lol I am still trying to recognize the patterns but yes, now that you mention it, I see what you are referring too
Most of the time price would try to close the GAPs and then re-assume the previous trend. I prefer to wait if price reach the last support/resistance area previous to the GAP before enter any setup.
All my best,
But, in that case, it is a long setup and the gap is in our favor no ? or I missed something ?
EternalNewB,
I wont spare some punches, this is without a doubt the worst setup I’ve seen anyone take in a long time 
there’s nothing like this in the first 50 pages!
The setup criteria we have are simply rules for getting us into trades. When the criteria are not established as firm rules—and mentally rehearsed as such—there is a tendency to violate the setups. This violation often occurs because of the fear of missing a profit opportunity (in my experience because this is what I realize that I do). When the setups are structured as rules, trading can be much more consistent. Most frequently, the inconsistent trader is the one with the loosest rules. RULES AID TRADING CONSISTENCY.
I’m still learning myself but I’ve found that this is true.
I don’t want you, or anyone else, to spare me anything 
the fact that you took the time to reply means a lot to me
However, a part from the fact that it is a CT trade what is “wrong” with the setup ? it wasn’t a BEEB at a resistance level ??
Just because there is a PA signal on a chart (BEEB, BUEB, 2BR, PB- which we like to trade here) does not mean there is a trade opportunity. Think about over the course of 1 week*, how many of these occurrences take place across 4HR, 6HR, 12HR, and D1 charts…do we take every single setup? No. As discussed many times in the past, the solid, highest probability setups are going to occur on average 2-5 times / month. Patience is the name of the game. Look what price has done since 7/10.
We don´t know if the GAP will be closed. So I prefer to wait. From the chart (I can’t see mine at this moment), the previous trend was down, so I would look for position according with that previous trend.
Regards,
hi all working from the start to get through this colossal thread! But also like to read whats currently happen at the mo too. I’m fascinated by this gap which has happened over the weekend. Never tried trading one and know its risky but this does look like an interesting set up on the AU as previously mentioned.
on the daily you have this
nice pin bar
and on the 4 hour
nice engulfing bar
only problem is it sitting on a nice support bar.
What is the protocol for PA and a gap market?
any feedback is gladly received.
good luck all
Hi Dathfrancis,
And Welcome to price action (PA) trading.
I see your enthusiasm and urge you to read yourself through the beginning of this thread.
For simplicity and as a rule of PA we strip our charts of any indicator,MAs,oscillators trend line channels you name it.
Blank,all Blank. The only thing you should see are candles, and thats all you need mate.
Do that and then lets talk about the trade idea of yours with a naked chart, 1 resistance line and 1 support line.
good luck
Cheers
Hey there Darth- I was reading some of your older posts and see you’ve found some pretty high levels of success! Looking forward to interacting with you here…
Hi Guys
Any thoughts on AUDCAD daily? Here is my chart below:
Overall trend seems to be down and has a nice pin through what I see as RS and so I have chosen to take the trade at this stage. Any feedback much appreciated.
[QUOTE=“Mr B A Barracus;534125”]Hi Guys
Any thoughts on AUDCAD daily? Here is my chart below:
Overall trend seems to be down and has a nice pin through what I see as RS and so I have chosen to take the trade at this stage. Any feedback much appreciated.[/QUOTE]
Hi BA - I was watching this trade for quite a while today, as it first appeared a 2br reversal on the 4hr 1 bar earlier than the New York close. The 2br finished too near to my FTA for me to take in the en so watched the daily with interest. I saw the pin form but to me it looked like a ranging market and although I considered it for a while I decided not to take it as the pun wasn’t large enough for me to take unless with trend.
That’s not to say it won’t work out, still looks decent but I guess in my head I settled on it vein an A trade rather than an A+
Hope it works out for you
Wait there a second.
You all know that Aud/Cad’s Pin has closed in goats bum, literally.
The market has gapped, therefore the Pin Bar didn’t close within prev. candle’s range.
Rule #1…
