Forex Price Action

[guardian09]

Hi all,

I have a question. In the system that we are using, do wo we take into account what price does in the past? Or just the “very recent” price action.

For example the Audusd. Would anyone have taken that PB trade and why not?

Would we take into consideration the double bottom in the front or do we just look at the pinbar (assuming its a valid trade.)

I hope my question is understandable. Thanks In advance!

[jackson905]

Hi all,

I have a question. In the system that we are using, do wo we take into account what price does in the past? Or just the “very recent” price action.

For example the Audusd. Would anyone have taken that PB trade and why not?

Would we take into consideration the double bottom in the front or do we just look at the pinbar (assuming its a valid trade.)

I hope my question is understandable. Thanks In advance!

Hey man,

According to previous posts by johnathon within the thread, he mentioned to trade the recent momentum. So we will only be taking note of the price within the window we are looking at + it is zoomed in(One more click of the + button will be the max).

Im not sure about the Audusd though, im not with my chart:/

Hope this helps!

Jack

[guardian09]

[QUOTE=“jackson905;535142”]

Hey man,

According to previous posts by johnathon within the thread, he mentioned to trade the recent momentum. So we will only be taking note of the price within the window we are looking at + it is zoomed in(One more click of the + button will be the max).

Im not sure about the Audusd though, im not with my chart:/

Hope this helps!

Jack[/QUOTE]

Yup that helps. I’ve always wondered how munched zoomed in do most of you look at the trade. Maybe I guess I zoomed out too much! One more click of the - and i see lines! And I wonder if I am looking too much into the past.

Thanks!

I like this thread. Always learning something new and improving.

Anyone please share your views on the Audusd PB about 2 days ago. =)

[EternalNewB]

Yup that helps. I’ve always wondered how munched zoomed in do most of you look at the trade. Maybe I guess I zoomed out too much! One more click of the - and i see lines! And I wonder if I am looking too much into the past.

Thanks!

I like this thread. Always learning something new and improving.

Anyone please share your views on the Audusd PB about 2 days ago. =)

As per previous posts it is not a valid pin bar because the price didn’t close within the body of the previous candle due to the WE gap opening

Cheers

[kennymingt]

Hi everyone,

I have been following this thread for a while now, and finally I dare to post a chart
This is what I’ve come out with, and would appreciate some comments. Does it really makes sense? or am I going completely wrong about it?

Kenny

EURUSD 2013-09-18 Daily
Thanks

[wm247]

Welcome to the club, Kenny!

Have you finished reading the first 50 - 200 pages of this thread first? You will be a lightning year ahead in your Forex journey once you’ve done that, and it will be much easier for you to follow our discussion here. As for your chart, we cannot say much as you do not draw any possible S/R line there.

Cheers!

@kennymingt

Hi everyone,

I have been following this thread for a while now, and finally I dare to post a chart
This is what I’ve come out with, and would appreciate some comments. Does it really makes sense? or am I going completely wrong about it?

Kenny

EURUSD 2013-09-18 Daily
Thanks

[Kasravi]

Usually when we see a A+ setup, we do not care much about MM unless there really isnt much space for the price to go towards FTA(First Trouble Area). Thats my view on the latest setup you guys are discussing.

If you have learnt MM is important, it sure is. However, you have to unload most part of the MM ideas here(i had a difficult time doing that n for a while i doubt this method), but after few months of trading PA, i realised what Johnathon saying is VERY true, not to mention that his method has such a high winning probability that i did not lose a single trade yet even sometimes my MM is only 0.3 ~ 0.5 : 1.(Of course it depends on how to manage your trade and selection of A+ setup as well)

Now just to share more thoughts on EURGBP 4HR or 6HR.

In order to be an A+ setup on 4HR TF, it should be a MUCH MORE CONVINCING Pin bar than what you usually trade on Daily. It is because its a 4HR TF which is 6 times less information than Daily in the candle, only BIG and Very Convincing Candles will show that the price will most likely go towards your way.

To illustrate my points below.
<img src=“301 Moved Permanently”/>
(source from FSO)

For example if the small pin is a Tradable A+ Pin Bar on DAILY, then the A+ Tradable PIN on 4HR must be the Bigger one. Only the Bigger PIN will ensure that edge is on our side.

What I’m trying to say is that the Pin on the 4HR is not convincing enough to me(based on the photo provided by you guys few post back) not to mention other criteria.

Cheers!

Jack

Hi Jack,

Good explanation,
To put your graphics into writing on a daily chart the wick has to be 3x the body length,
but on a lower time frame something like, wick 5x the body length, did I understand you correct?

Cheers

[tonyro44]

That wick thing makes allot of sense jackson905, thanks.

Hi Jack,

Good explanation,
To put your graphics into writing on a daily chart the wick has to be 3x the body length,
but on a lower time frame something like, wick 5x the body length, did I understand you correct?

Cheers

[jackson905]

Hi Jack,

Good explanation,
To put your graphics into writing on a daily chart the wick has to be 3x the body length,
but on a lower time frame something like, wick 5x the body length, did I understand you correct?

Cheers

Yup thats right

[jackson905]

That wick thing makes allot of sense jackson905, thanks.

You welcome

[fahedksa]

Hi,
Most of theory now very clear to me but i still have issue where to put my SR lines .As i understand now its consider as zones not a lines only.
I have a questions here will clear some points for me :
When i mark support line i look for nearest low of previous swings but if nearest low was broken ,is it still valid to mark?
Can i use high of previous swing if it nearest support or should i look for nearest low of swing ?

Thank you all

[jackson905]

Hi,
Most of theory now very clear to me but i still have issue where to put my SR lines .As i understand now its consider as zones not a lines only.
I have a questions here will clear some points for me :
When i mark support line i look for nearest low of previous swings but if nearest low was broken ,is it still valid to mark?
Can i use high of previous swing if it nearest support or should i look for nearest low of swing ?

Thank you all

Have you read this before? Price Action Holy Grail - Support and Resistance

That should clear your doubts.

Jack

[fahedksa]

Have you read this before? Price Action Holy Grail - Support and Resistance

That should clear your doubts.

Jack

Thank you Jack
I will read it now

[darthfrancis]

Does anyone that participates @ FSO have a myfxbook account?

Yeah i do. what’s up?

[Mr_B_A_Barracus]

Hey again

Would this be classed as a BEEB?

2nd to last four hour bar.

[Mr_B_A_Barracus]

I disagree, Kasravi. BA is the correct one here, your engulfing bar is not valid and the best decision here according FSO way is to let it go. Even one or two pips off is something that we should not tolerate in our trade. No butts and no iffs.

[B]HOWEVER![/B]

While what you and BA were discussing there really does not fit our definition of Bullish Engulfing Bar, it [B]DOES[/B] fit our definition of 2 Bar Reversal. I’ll quote Johnathon’s words at FSO website fully here:
“The 2 Bar Reversal is similar to the Engulfing Bar in that they are both reversal Price Action Reversal signals. The main difference between the 2 Bar Reversal and the Engulfing Bar is the 2 Bar Reversal does not have to fully engulf the previous candle or bar where as the Engulfing Bar does have to engulf at least one previous bar.”

In short: Is it BUEB? [U]Nay[/U]. Is it 2 Bar Reversal? [U]Yay[/U]!

Please read more here:
The 2 Bar Reversal
Bullish and Bearish Engulfing Bars Introduction

PS: But that does not mean we are free to take this trade, though. Please check it first whether we have A+ trade setups here.

Hi WM247

Thanks for the help. I’d missed that it was a 2br and now I actually really like this trade on the daily. The reason for this, is I have the 2br sitting on a line of support and would also be with the strong up trend. I am now considering putting in a pending long.

B A

[EternalNewB]

My EUR GBP hit first TP thank you guys

a pin bar is being formed now in the opposite direction

[Kasravi]

My EUR GBP hit first TP thank you guys

a pin bar is being formed now in the opposite direction

Yeah it literally rushed all the way down.

[EternalNewB]

Hey again

Would this be classed as a BEEB?

2nd to last four hour bar.

I was considering it but then I don’t trade CT yet

If more experienced members here give their input maybe I’ll take the plunge

[bigcheefer30]

Yeah i do. what’s up?

Can you provide a link to your account page?