Forex Price Action

[EternalNewB]

Hello guys,

I will try to do an analysis this time

EUR/AUD Daily 2 Br

1. Happens on swing edit Low
2. Bullish bar is strong enough
3. Support around a round number 1.4200
4. The pair is ranging more than trending

I think to go long on the blue line (about 15 pips higher than it is now) and identified 3 TP areas first 2 are dotted and the final one is the highest yellow line

I see that after the fist area is broken (very close to entry point) it is like a free run

This is my first take to real analysis so thank you for your insights

[Piping_Hot]

@EternalNewB

Hello guys,

I will try to do an analysis this time

EUR/AUD Daily 2 Br

1. Happens on swing high
2. Bullish bar is strong enough
3. Support around a round number 1.4200
4. The pair is ranging more than trending

I think to go long on the blue line (about 15 pips higher than it is now) and identified 3 TP areas first 2 are dotted and the final one is the highest yellow line

I see that after the fist area is broken (very close to entry point) it is like a free run

This is my first take to real analysis so thank you for your insights

To me, but I’m not a pro, this should have happened above the blue line to be good

Yves

[semmee]

Hi. Sorry I’m on my phone. I hope you mean for bullish 2br to happen at swing lows the pair has recently broken past support that might look to be new resistance. It’s too early to say that it’s a down trend but with a double top and a lower low I’d be cautious. There’s a lot of consolidation around your support area if my memory serves correct. Might work for a small risk to reward but who wants that?

[Kasravi]

Hello guys,

I will try to do an analysis this time

EUR/AUD Daily 2 Br

1. Happens on swing high
2. Bullish bar is strong enough
3. Support around a round number 1.4200
4. The pair is ranging more than trending

I think to go long on the blue line (about 15 pips higher than it is now) and identified 3 TP areas first 2 are dotted and the final one is the highest yellow line

I see that after the fist area is broken (very close to entry point) it is like a free run

<img src=“301 Moved Permanently”/>

This is my first take to real analysis so thank you for your insights

Did Matt not post this yesterday?

[Kasravi]

Hi Matt,

Eur/Aud resistance line ,

<img src=“301 Moved Permanently”/>

What do you think about that?

Cheers.

There you go, heavy Resistance overhead.
watch out.

[EternalNewB]

Did Matt not post this yesterday?

Oops sorry this thread is going to fast for me, I need to learn to read before I post

There you go, heavy Resistance overhead.
watch out.

That’s why I set my first TP so close

[darthfrancis]

This thread moves so quick!

Just wanted to say eternal that i took the EA trade. Hey go long.

Also taken the GY and EY as there was a great PB on the 4 hour charts on both with support on the GY at 160.00 and this pair is highly correlated.

[EternalNewB]

Did Matt not post this yesterday?

There you go, heavy Resistance overhead.
watch out.

This thread moves so quick!

Just wanted to say eternal that i took the EA trade. Hey go long.

Also taken the GY and EY as there was a great PB on the 4 hour charts on both with support on the GY at 160.00 and this pair is highly correlated.

thank you for the heads-up, I saw the PB on EUR / JPY but my trading plans says no Counter Trading so I didn’t take it

I am in the EUR AUD now and few pips in profit

[fazliy]

I’m about to sell short this pair if having any clear reversal signal
any comment about this?
sorry for bad english…

[fazliy]

and also want to buy this pair if having a clear signal…

[bigcheefer30]

@Kasravi

There you go, heavy Resistance overhead.
watch out.

---

@bigcheefer30

Lots of traffic above

[bigcheefer30]

@fazliy

and also want to buy this pair if having a clear signal…

I’d be looking more toward this level (158.0)

[bigcheefer30]

What sett said was actually true. It is much safer to trade with the trend here. You may have taken profit here but thats not the point, bad trades does work out sometimes but it doesn’t make the bad trade a right one. It is the edge in the long run that make you a consistently profitable trader.

Besides, if this level were to be a good level to take counter trade,

1. It is not valid BUEB

2. PA is not [B]SIGNIFICANT[/B] enough to take

My 2 cents.

Jack

Thanks Jackson. I too feel that I slightly bent the rules on this one. The low of the bullish candle missed fully engulfing the previous one by a fraction. However, I don’t necessarily think it was a “bad” trade. That level it bounced from was significant enough on my D1 chart, and the action @ that level displayed to me that there was enough upward buying pressure (4 candles all closing with significant tails & then the strong bullish reversal candle). To me, this was a strong signal that price was trying to reverse and wind back up to that previous support level. It did, and quickly came back down.

In the future, I’m going to exhibit more discipline and not take trades like this. I understand it’s essential to first identify our levels, then look for PA. But, I also think it’s important to see “behind the bars” and read what price is trying to do.

Thanks for taking the time to reply.

[bigcheefer30]

@Kasravi

There was a trade Idea I wanted to share last night but got busy.

Gbp/Aud Daily chart Pinbar,

The blue line represents VBRN 1.7000.
Price was in a clear 1,2,3 reversal downtrend.
Now rejected latest swing low.
If entering is an option it would be clearly above 1.7000.

Cheers.

-Blue dashed line is 1.7
-Clear PB reversal
-From a swing low

-1.7 is indeed a key psychological level. But, here’s how I see this. I feel 1.68779 is more significant than 1.7. This zone (lower horizontal line) was tested multiple times b/w Jun-Aug and more recently in Sep (gray shadows) and held almost perfectly. This, to me, illustrates a key flip zone (or, the “kill zone”).

-The 1.7 level has only recently been tested (only looking back to May). And, what I see is price popping up and down through it. Price rotated around 1.7 7 times (with the 7th being the most recent PB). That is a signal to me that there really isn’t much of a solid identity for that level (in other words, we don’t know if it’s Support or Resistance yet).

With that said, I feel this reversal off the previously held 1.68779 level (2 BR 9/10-9/11 & previous resistance) is a solid setup. Ideally, it would have been nice to see that pin close above 1.7, but, I truly don’t feel that in the overall scheme of things, price is going to have any trouble staying above. The 2 candles following the high candle (of the most recent swing) are pretty telling to me. Price was trying to break down, and that 1.68779 - 1.7 zone held firm.

[dudest]

Hallo peeps :)!

Wow, some great progress made since I’s last here!, great job all!

It’s taken me a few days to catch up on the posts, but have finally made it to the end

Hope to be more around than in the past two weeks.

Cheers to all!

[EternalNewB]

Hallo peeps :)!

Wow, some great progress made since I’s last here!, great job all!

It’s taken me a few days to catch up on the posts, but have finally made it to the end

Hope to be more around than in the past two weeks.

Cheers to all!

welcome back

[Pandex]

BEEB has formed on the 4h gbp/cad, at swing high - round number

daily chart:

BEEB formed 4h chart, good entry point?

cons:
Against trend
Have some support/resistance verry close

What you guys think?

[dudest]

Hallo again,

Just to allay some concerns I picked up while catching up on the thread.

Johnathon’s PA method is simple, and uncomplicated ( not to be confused with “easy” or “trivial” ). The rules that Mr J has put up on what makes up a VALID + OBVIOUS pinbar/EB/2BR are straightforward, and do not change/bend with what the market is throwing at us ( gaps, “FOMC”, etc )

If you practice this way of thinking for a few months exclusively, you will get it pretty fast, I assure you.

But that means emptying the cup and chucking pre-conceived ideas (indis, trendlines, cluttered charts, R:R in isolation, mixing methods) out tha window!

If you must, have two demo accounts. In one, continue trading as you always have. In another, do exactly what Johnathon says, exclusively. Then after 3 months, see which one is out in front, and which one gave you the least stress. I won’t be surprised that that latter will be the one you enjoyed trading.

Lastly, trading from D1 (esp only D1 when learning the method) does not equal missing out on setups.

Trading from D1 has a lovely side effect of developing a fresh mental state that generates success time after time. Waiting for setups stops being a problem, because when they come in waves, you cleanup like nobody’s business!, then retreat into the shadows and wait for the market to make it’s next ‘mistake’ Of course, with time, H4/H6/H8/H12 become fair game, and provide great opps. But from my journal, the bulk of the best trades came from D1.

Once again, great work all!, happy to be back among this good bunch

Cheers

[Piping_Hot]

Trading is a cool activity, weekend starts on friday early afternoon ! Have a great weekend all !

[bigcheefer30]

@Pandex

BEEB has formed on the 4h gbp/cad, at swing high - round number

daily chart:

BEEB formed 4h chart, good entry point?

cons:
Against trend
Have some support/resistance verry close

What you guys think?

Always remember, the trend is your friend. Looking at the Daily- why go against the recent surge up? Price may pull back (people taking profits), then provide a nice signal to go long…