[QUOTE=“bigcheefer30;538483”] Hey Jackson, can you please elaborate more about this concept of “traffic”… I understand it at a high level, but I’ve got 20-30 charts saved on my desktop here of “a+” setups taken from earlier pages in this thread posted by senior members, and they almost all have “traffic” or some type of zone where price fluctuated that would need to be overcome. I thought the idea was that if we get a solid enough/very strong pa signal, at a key level, with the trend, that minor “traffic” would be overcome, with tp’s set at next logical level?[/QUOTE]
Hey I’ll be home in a min n I’ll show ya in details k
EDIT: FAIL, closed nothing like the way I wanted it too… disregard this post.
GBPCHF H4 Pin Bar Forming
I am already short on GBPCHF on a 2 bar reversal from the H8 chart, I was just generating my H8 again on the H4 and seen a pin bar, well one forming, this could be a good chance to jump on this downward move if it closes within the spec. It is at a price flip zone and looks to be at a good level.
UPDATE: It is now turning into a 2 bar reversal as I type. Remember, hold off until the bar closes
Ohhh noooo! I was in the fog so far???
I trade with FXCM Marketscope 2.0 and they show me the right charts - NY Close Chart(always as you all people post on this thread). Where did I go wrong? Is there anyone who trade with FXCM Marketscope?
My work went in ruin for last few moths?
Hi,
I have one question.
If I draw R/S lines (one above one below price) on 1D chart I use it for 4H,8H… charts too. Signals in this S/R zones are often A+.
But can I draw minor S/R lines only on 4H chart and trade from this S/R zones? Of course on 4H charts??? Or is it trade in the middle of no man’s land and basicaly no A+ trade???
I know that a can’t look at S/R lines from 4H chart if I trade 1D chart.
Don’t know if you understand me … there is example:
I know that there is orange S/R line obvious on 1D chart too but sometimes this S/R zones are obvious only on lower time frames.
Alright, i totally understand the frustration in defining if one setup has alot of traffic and i have asked this question before and one of the seniors Tomyates cleared my doubts. I cant quote him as its barried deep within the thread but basically what he meant was, there is always a problem with a setup if you want to find it however, it is up to your discretion to see if the problem is big or serious enough that prevents you from taking the setup and his explanation could put in the “traffic” context.
There will always be traffic at the left hand side that prevents you from taking the setup however, it is up to your discretion to see if the traffic is important enough to prevent you from taking the setup.
I hope you understand what im saying on top and ill give my view why i think ad’s setup is not a suitable pair.
Before that, ill give you my thoughts on J’s A+ setups.
1.
For this setup, my view is that i will not take the setup as i think the traffic is quite significant and i think the PIN bar is not commanding enough. Im not saying it is not an A+ setup because J has many years of experience and forex knowledge that led him trade this pair.
I will take this setup because the Engulfing bar is Very commanding and comparing to it, the traffic is less significant. Therefore, it has higher chance that the price will penetrate through the traffic below.
Definitely will take this setup because the Engulfing bar is Very commanding and there is distance between the heavy traffic and entry.
What im trying to say here is that, there is a certain discretion on your part when defining if the the traffic is significant, however there is also certain part which is “fixed”. In J’s setup that you uploaded, all the trending pairs has moved down quite abit before it retrace back, so that the price at the left is not sticking close to the PA you are trading.
However when you look at Ad’s setup, there are these lot of traffic just below it and sticking together with the entry, so, we cant know what will happen when price hit them.
According to Johnathon, yes it is the same logic and rule when you trade 4HR that you can draw SR on 4HR and trade them. Early in the thread he posted 4HR trade that draw SR on 4HR before.
Hello Adam,
whilst I agree with what Jack is saying about traffic I personally feel the PA on the EURAUD is fine. I shorted it and I expect price to stall around the level with traffic or maybe even turn but for the most part I’m confident it will go lower. Like Jack said it’s up to your discretion. As you have noticed yourself half the time when a setup is posted here some people wont be comfortable taking a particular setup & others will be. The culture promotes constructive debate and personal opinion as long as these are in line with Johnathon’s PA criteria
you could continue using FXCM for your live account if you have no problem with them so far. But for the sake of discussion here, please post the chart using the correct NY Close chart (some NY Close chart are considered incorrect, either they use 6-day candles or inconsistently using Ask chart instead of Bid chart so it’s kinda confusing). Coach J himself did not show his approval for FXCM because of the recent problem with them.
Anyway, I strongly suggest you continue this discussion about broker using PM to Johnathon himself. He [B]REALLY[/B] does not like to use this thread to further discuss about brokers, but he will be more than delighted to help you with broker preferences if you PM him directly. Another member that I recommend you PM directly is krugman25. He has quite an experience with FXCM, so he may be able to help you here.
Good luck, and please no more discussion about broker in this thread from you and let’s focus on Price Action from now. [U]Direct request[/U] from the Godfather himself.
I see this as a very strong sell signal due to the sheer size of the bar and how it is clearly rejecting the high.
I have my TP at 1.42070 which I think is reachable as that is the previous low, and the high which was rejected is a price flip zone, also another thing in favour here is the double top which has formed. It is all about reading the whole story, not just the setup on its own.
And yes, it is fully up to the trader to make his/her own trading decisions, this thread is not a signal service, but to help people learn how to recognise setups and understand the importance of where they form.
Hey guys, not sure how many people live out in the EST (Eastern Time Zone aka NY Close), but I put together a quick time-chart that shows when candles close, so you can look for PA and know the key times to check the charts. I know this is a bit off topic, but just wanted to share- one less thing to store in the memory banks. I have it tacked up on my wall behind my computer…
Pros:
1)definition pinbar; larger than previous candle, protrudes well through marked resistance
2)no traffic
3)formed at support from last swing high
4)Next logical T/P level is 2-3x SL distance for a nice RR
5)Trade is with uptrend
Not much overhead, next major resistance around 138.
Killzone
W/ Trend
Relatively tight stop
First target area around 134
There was pretty strong downward pressure toward that 133.2 support zone, but a mint PB formed. I’m going to be looking for price to hit 133.72 for order fulfillment. Nice spot!
Edit- srry, was looking @ incorrect TF. PB is valid, but, my key level is @ 158 though. This is a traders discretion potential setup. Maybe if it pulled back a wee-bit further…
