Forex Price Action

[EternalNewB]

Can you share your trade plan for this one?

Well I saw the pin bar on the 4 Hr chart but, after it closed, it turned out not to be a pin bar.

Few posts later posted it on the 6 hour chart 301 Moved Permanently and some discussions took place here about the validity of the trade.

I was reluctant to take it because the R:R was < 1 but more advanced members explained that it is sometimes OK specially with a solid method like PA

So I took the trade, entry point 5 pips under the break of the pin SL 5 pips above the pin and the TP at the latest swing

[EternalNewB]

Is this Gold D1 chart BUEB enough or it doesn’t count because of the context that generated it ?

[SteVeXX]

I expect because of “the context” that price will go more up during asian and european session tomorrow.When the us$ does bad people invest in gold. Isn’t PA, but for me the reason why I’m going to trade thise pair and not another one with some nice PA signals too.

[EternalNewB]

Is this a valid pin bar on the EUR/JPY daily chart ?

[Kasravi]

Is this a valid pin bar on the EUR/JPY daily chart ?

<img src=“301 Moved Permanently”/>

Nope, not at a swing low.

Cheers.

[EternalNewB]

Nope, not at a swing low.

Cheers.

Can you please explain more ?

[Mr_B_A_Barracus]

I hope there were some people who were able to capitalize in a HUGE way on this news!!!

Thanks for the heads up Bigcheefer, managed to cash in on the NZDUSD 2br but have exited now.

AUDJPY bearish engulfing bar was a bad trade I took earlier and paid for it. I learn’t a few lessons from it, one being don’t enter trades where the reward is equal or less to the risk!

Thanks again

BA

[bigcheefer30]

Can you please explain more ?

-PB’s are traded as reversals, this would be a continuation
-If you were looking to go long, you’d really want the PB to be at a swing low
-Not a technically sound PB. Re-read the requirements for what characteristics a PB [B][I][U]MUST[/U][/I][/B] maintain

Remain patient, an A+ will come around eventually, and then you will pounce.

[EternalNewB]

-PB’s are traded as reversals, this would be a continuation
-If you were looking to go long, you’d really want the PB to be at a swing low
-Not a technically sound PB. Re-read the requirements for what characteristics a PB [B][I][U]MUST[/U][/I][/B] maintain

Remain patient, an A+ will come around eventually, and then you will pounce.

Second time I miss the reversal part today sorry about that

[fahedksa]

I just add pending long NZDJPY @82.15
H4
Up trend
BUEB (there are two BUEB)
Pullback to support (old resistance)
TP1 82.60 Tp2 *3.50
Comments Please if correct?

[semmee]

Second time I miss the reversal part today sorry about that

We all start somewhere

[bigcheefer30]

Thanks for the heads up Bigcheefer, managed to cash in on the NZDUSD 2br but have exited now.

AUDJPY bearish engulfing bar was a bad trade I took earlier and paid for it. I learn’t a few lessons from it, one being don’t enter trades where the reward is equal or less to the risk!

Thanks again

BA

Glad to help. Thanks for posting up your ideas so we can discuss them. I must say that my mentality has shifted so rapidly and so drastically just over the last week or so…Positions that I’d normally want to enter, are just tossed aside and never thought about again as I patiently wait for the better setup that we know is coming down the pipe eventually. The benefits of being patient also dramatically reduce stress levels associated with the psychological components of trading (i.e. the “what if I this/that…”).

Just think, I’m not sure about your specific strategy, and there is nothing wrong with you trading the way you want to trade. I’m not the expert. But in this post, you mention opening 2 positions on a 2br and BEEB in less than 3-4 days? I understand these setups can come in waves, but looking back on them, were these the 2 absolute A+ setups that we all dream of on this thread? Were these the two setups screaming “TRADE ME RIGHT NOW WITH NO DOUBT IN YOUR MIND I’M AN A+ TEXT BOOK PA SETUP?”. Or, did you have to bend the rules a little bit, but the trades may have played out in your favor?

I’ve gone from being obsessed with checking the charts, and craving to be in a position to feel that rush…to…Completely harnessing the patience game, experiencing and converting that same strive and emotion of wanting to be in a position into patience and checking the charts only 4-5x a day (9am, 1pm, 5pm, 9pm EST). It takes a few seconds to analyze a chart, if nothing sticks out like a sore thumb, I move on. No ifs, buts, or ands about it. I feel liberated, and more and more like I’m heading down the right path. Why toss your money into a gamble when you can just hold onto it, and intelligently use it to make more?

[bigcheefer30]

Second time I miss the reversal part today sorry about that

Dude no worries…If this was your 500th posted chart and 1,400th post, then I’d be questioning if you’re doing the right thing trading currencies. Just stick with it man, we all have little “ah-ha / light-bulb” moments every day. It’s a never ending learning experience…

[semmee]

@fahedksa

I just add pending long NZDJPY @82.15
H4
Up trend
BEEB
Pullback to support (old resistance)
TP1 82.60 Tp2 *3.50
Comments Please if correct?

Might not quite be an uptrend but on its way there it seems. (according to D1)
BUEB? I can see why the support line is there but the BUEB is rather small compared to the other candles. It also does not seem to be sticking out too far from the rest of the candles.

Hope it still works out for you though

[fahedksa]

Might not quite be an uptrend but on its way there it seems. (according to D1)
BUEB? I can see why the support line is there but the BUEB is rather small compared to the other candles. It also does not seem to be sticking out too far from the rest of the candles.

Hope it still works out for you though

Regarding BUEB there are 2 BUEB first one small and next one large and its engulfing around 8 previous bars

[semmee]

@fahedksa

Regarding BUEB there are 2 BUEB first one small and next one large and its engulfing around 8 previous bars

Hm I see what you mean. It doesn’t show as an engulfing bar on my charts.

Just my opinion. It’s too close to the other candles to have retraced back and move back up if that makes any sense. Doesn’t stick out as much as I’d like.

[Mr_B_A_Barracus]

Glad to help. Thanks for posting up your ideas so we can discuss them. I must say that my mentality has shifted so rapidly and so drastically just over the last week or so…Positions that I’d normally want to enter, are just tossed aside and never thought about again as I patiently wait for the better setup that we know is coming down the pipe eventually. The benefits of being patient also dramatically reduce stress levels associated with the psychological components of trading (i.e. the “what if I this/that…”).

Just think, I’m not sure about your specific strategy, and there is nothing wrong with you trading the way you want to trade. I’m not the expert. But in this post, you mention opening 2 positions on a 2br and BEEB in less than 3-4 days? I understand these setups can come in waves, but looking back on them, were these the 2 absolute A+ setups that we all dream of on this thread? Were these the two setups screaming “TRADE ME RIGHT NOW WITH NO DOUBT IN YOUR MIND I’M AN A+ TEXT BOOK PA SETUP?”. Or, did you have to bend the rules a little bit, but the trades may have played out in your favor?

I’ve gone from being obsessed with checking the charts, and craving to be in a position to feel that rush…to…Completely harnessing the patience game, experiencing and converting that same strive and emotion of wanting to be in a position into patience and checking the charts only 4-5x a day (9am, 1pm, 5pm, 9pm EST). It takes a few seconds to analyze a chart, if nothing sticks out like a sore thumb, I move on. No ifs, buts, or ands about it. I feel liberated, and more and more like I’m heading down the right path. Why toss your money into a gamble when you can just hold onto it, and intelligently use it to make more?

Hi Bigcheefer

I really appreciate your comments and feel as though you must have been following me around today because I immediately regretted placing the beeb trade which then created a very stressful day where I was constantly checking my charts and feeling very anxious. This definitely was NOT an A+ trade!

Again the NZDUSD trade was not A+ and I contemplated cancelling my pending order, but when I read your post about the news coming out at 7pm UK time that would affect the USD I decided to keep it on because I knew it would blast out one way or the other, if it was to fall my order would not have been triggered but if it soared as it did I would make profit quickly and get out quickly.

I admit I have fallen prey to the psychological aspects this week, up until today it must be about 3 weeks since I have had a trade and I started to believe that I must be missing A+ set ups. I felt crappy earlier and knew that I had made some bad trades today. I need to learn to be more patient and wait for something decent to arrive. I need to borrow some of your zen bigcheefer. I have already pledged to only use the 4hr and daily charts but I need more discipline and will think much harder before racing to enter a trade from now on.

[fahedksa]

There difference between my chart and yours (My broker FXDD ) attached zoomed picture ,But your point i think its true if its more near support line .

[semmee]

@fahedksa

There difference between my chart and yours (My broker FXDD ) attached zoomed picture ,But your point i think its true if its more near support line .

Yea (Axitrader) I just couldnt make out what was behind those colorful green lines haha. Seems like a continuation if anything. Might have looked more convincing on the 1HR charts. I just don’t venture there

[alan_thompson]

Hi What do you all think to the daily pin on gbp/chf. Lines up with resistance from mid May and longterm trend seems generally down. The lower wick is a little long and it is a little busy to the imediate left not a A+ but I think the best setup ive seen in the last couple of weeks.
Regards Alan.