Forex Price Action

[semmee]

@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.

Man if you took this trade, its goin down harder than a dubstep drop LOL

[Matthgm]

Hey Matthgm,

I’m not quite sure what your question is, but as you stated entry would definitely be below the support given (1.47193) if I had set a pending sell order on the pin. However, based on that daily pin by itself, I believe it’s not convincing enough to put that order in. IF the pin had closed BELOW that support line I listed with a bigger more convincing body to the downside, then it would definitely look lovely. Besides being cluttered in with the previous candles, the wick is beautiful, but the nose is a bit too long for my liking.
It’s not to say it won’t work out, cause it definitely seems to be going in that direction atm!
Did you take the trade?

Yes, I’m in it. FTA hit, stop moved to BE and managed on a tight stop

[mselva]

Hi Kasravi:

I passed in this setup because I thought the 09/06/13 bearish candle was a setback and then a confirmation of a new support on 0.9389.

I would like to ask you what made you take this position short.

Also I want to know what sign could we look for as confirmation of a continuation of the downtrend, in case that doesn’t show a retracement to 0.9169.

Thank you,

Usd/Chf final TP hit.

Cheers.

[adamjn]

Anyone take the 2 Bar Reversal on GBPCHF H8?

Seems to be playing off pretty well so far. It was at a daily high, so the signal formed at a valid level.

TP 1 has been hit, moving stops for the 2nd 2 positions to BE if it doesn’t close below 1.46287 today as specified in my trade plan.

GBPJPY H8

[afdx]

Hi to all friends. There is a BEEB at NZDUSD H4 TF. It is at swing high but it is not enough big. What do you thing about that? Is it right? ı can’t send chart because of ı haven’t 5 messages.

[fahedksa]

Hi to all friends. There is a BEEB at NZDUSD H4 TF. It is at swing high but it is not enough big. What do you thing about that? Is it right? ı can’t send chart because of ı haven’t 5 messages.

My thought:
I think we have to wait until candle close also if its true BEEB its will be against the trend and there still no signs of changing direction.

[Yumei]

Hi Mate,
it against very strong up trend, the price also still not hit the key ressistance level. too risky to long. it better to mark the R/S level on daily chart or higher then use them to find the PA.

Hi to all friends. There is a BEEB at NZDUSD H4 TF. It is at swing high but it is not enough big. What do you thing about that? Is it right? ı can’t send chart because of ı haven’t 5 messages.

[afdx]

My thought:
I think we have to wait until candle close also if its true BEEB its will be against the trend and there still no signs of changing direction.

Hi Mate,
it against very strong up trend, the price also still not hit the key ressistance level. too risky to long. it better to mark the R/S level on daily chart or higher then use them to find the PA.

Thanks your comments.

[Forex_School_Online]

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

We spoke about this together just the other day… We all need to take 100% responsibility for our own trades and stop following and looking to other traders. It does not matter what other more seniors traders are doing.

The worst possible thing we can do is enter because other more seniors traders are. What happens when we get into the trade? We get into the trade and then what? How do we manage it? Do we then send the more senior trader a message and ask them how they are going to manage it or hope they post updates so we can follow?

We all need to do our own analysis and we all need to take 100% responsibility for our own trades so that when we get in the trade we have full confidence in it.

Johnathon

[Forex_School_Online]

@EternalNewB

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

No and not something you ever want to trade. There is an article that I made to help people that are stuck trading pin bars like this. I don’t want to link to it but it will really help and it is called “where traders go wrong with the pin bar” and shows exactly why this is not a pin bar.

[Pandex]

This is the daily for cad/jpy, if any signal will occur on the 4hour like a pinbar/engulfing would this be a good zone to enter the trade? this is the daily chart.

4hour chart:

disregard the last candle,3 and half h before the 4h close.

I’m new like i said and just reading through the thread while this “possible setup” occurred.

[adamjn]

@Pandex

This is the daily for cad/jpy, if any signal will occur on the 4hour like a pinbar/engulfing would this be a good zone to enter the trade? this is the daily chart.

4hour chart:

disregard the last candle,3 and half h before the 4h close.

I’m new like i said and just reading through the thread while this “possible setup” occurred.

IMO it would need to be massive pin bar on the H4 to make me take this trade due to the size of previous candles…

[Forex_School_Online]

@Mr_B_A_Barracus

Thanks EternalNewB, well done with the EURGBP trade!

I decided to take the AUDJPY Beeb despite it being CT…I don’t know how it will work out but one of the main reasons I decided to take it was a little further back on the 4hr chart there is a very bearish movement at 93.256 which I hope may indicate a number of bears in the market…I don’t know if this is right but we’ll see.

I would also welcome any input from more experienced members

I am really not sure what you entered this one

When looking for high probability or A+ trades we are looking to stack as many factors in our favour as possible what would you say this trade has going for it other than being a valid bearish engulfing bar? I have read your post a few times and from it all I can gather is you are saying it is against the trend and you are really not sure about it at all and still you are entering it…

We need to constantly keep in mind that the last candle is just one candle and it is only the last candle on the chart that is made up of many candles. This last candle is just what we use for confirmation to get into a trade. It is the price action story that is the most important! This is what make the trade and is key to making a high probability trade. It is all these other candles that build the trends and key levels that go into the price action story that are the most important. That’s why we look at these first and market our key support and resistance before we even start looking for price action signals!

Here on this particular chart of the 4hr AUDJPY, price was in a clear up-trend and price had stalled. As we often talk about; for price to move in either direction it can’t just move straight up or down it needs to rotate to build orders and as traders buy and sell and make profit and then sell their positions. This is just normal market movement. If a trader or company makes a profit the only way to cash in this profit is to close their trade. Until the trade is closed the profit is paper profits. When closing the trade this can then cause an in-balance in orders and this is how we can get the rotations and retracements in price and this is why price never moves straight up or down. Traders always need to get in and out of the market and always will.

After price had moved higher it moved into consolidation and this is when it formed this small bearish engulfing bar. This small engulfing bar was not a large reversal signal but it had formed in a clear sideways move or in other words instead of forming up at a swing high like we need and like all the good examples we have shown in here it formed in a bunch of consolidation and traffic. If you are going to be trading straight back into traffic then you are going to be having a really hard time nearly every time! let me give you the read hot tip right now; don’t get into the habit of trading signals that are trading back into traffic or that are formed in consolidation. Stick to what we have taught in the first 50-200 pages.

AUDJPY 4HR CHART

Safe trading,

Johnathon

[Forex_School_Online]

Hi Alan, welcome to this thread!

I notice that this is your very first post, so please be honest here. Have you read the first 50 - 200 pages of this thread before posting your chart? If you haven’t, please do it now. If you have, then please answer this honestly: if you think that is not A+ setup, then is taking the trade really the right thing to do here?

Cheers!

Thanks heaps Will for looking out for the thread!!:35:

I will do all this type of thing in future though. I go through every single post normally each weekend and this is when I will normally clean them up, delete, ban or do what is needed etc

Thanks mate.

Johnathon

[bigcheefer30]

Thoughts on EURNZD 4H CT trade?

-I see KHL around 1.62, with room to breath for entry about 10 pips above wick high of the bullish candle.
-Bullish candle corresponds with support around May 30/31
-Formed @ swing Low; target area would be around 1.62

[sett_burana]

why would you risk to play CT, instead of play with some PA at 1.6200 and with the trend. I think the probability is much more than play CT.

@bigcheefer30

Thoughts on EURNZD 4H CT trade?

-I see KHL around 1.62, with room to breath for entry about 10 pips above wick high of the bullish candle.
-Bullish candle corresponds with support around May 30/31
-Formed @ swing Low; target area would be around 1.62

[adamjn]

@bigcheefer30

Thoughts on EURNZD 4H CT trade?

-I see KHL around 1.62, with room to breath for entry about 10 pips above wick high of the bullish candle.
-Bullish candle corresponds with support around May 30/31
-Formed @ swing Low; target area would be around 1.62

Here is my analysis on this pair, I am looking at the daily chart.

What I would be waiting for is a retracment. It broke down through support, which should now act as valid resistance. I would wait until price reaches this area, the look for a valid PA signal to go short. Just my 2 cents

Thanks,
Adam

EURNZD Daily

[bigcheefer30]

@adamjn

Here is my analysis on this pair, I am looking at the daily chart.

What I would be waiting for is a retracment. It broke down through support, which should now act as valid resistance. I would wait until price reaches this area, the look for a valid PA signal to go short. Just my 2 cents

Thanks,
Adam

EURNZD Daily

My D1 chart looks pretty much the same. I have my KHL around 1.62 though. I felt this may have been a good position to go long in, given how the previous 3 candles closed. I see buying pressure stalling the decline, then a pretty large movement to the upside (bullish candle). This reversal corresponded with another key support level back in MAY, and this level hasn’t been broken, or even tested, since.

[bigcheefer30]

@bigcheefer30

My D1 chart looks pretty much the same. I have my KHL around 1.62 though. I felt this may have been a good position to go long in, given how the previous 3 candles closed. I see buying pressure stalling the decline, then a pretty large movement to the upside (bullish candle). This reversal corresponded with another key support level back in MAY, and this level hasn’t been broken, or even tested, since.

Here’s the Chart for that Support I’m talking about:

[Matthgm]

EURAUD Daily

Not had a chance to study this but let me know what you think.

I’ve marked daily support, FTA and potential TP’s