Forex Price Action

[krugman25]

I was about to ask the same question. We place SL with a 10 pip buffer, so does the virtual sl have to be reached or only the bottom of the pin bar. Also, if GBP/JPY is not valid anymore, does it make EUR/JPY more risky ?

Breaks on either side of a PA signal can be false, which is the point of the buffer. I think a buffer of 5-10 pips on most pairs and timeframes help you sift the real signals from the false ones.

[Piping_Hot]

Breaks on either side of a PA signal can be false, which is the point of the buffer. I think a buffer of 5-10 pips on most pairs and timeframes help you sift the real signals from the false ones.

Thanks krugman, so this means that gbpjpy stays valid until bottom of the pinbar + 5-10 pips is taken out ? Just wanna make sure we talk about the same thing?

[krugman25]

Thanks krugman, so this means that gbpjpy stays valid until bottom of the pinbar + 5-10 pips is taken out ? Just wanna make sure we talk about the same thing?

It’s a great question and one that I would love to hear responses from others. But yes I personally don’t considers a PA signal invalid until it breaks past the buffer I place on it. The same way we can have false entries if we place our entry too close to the candle, you can have that same thing happen on your stops. The entry buffer and the stop buffer are both their to weed out false signals. A lot of retail traders will put their stops right on the other side of a candle, so it is not uncommon to see price poke out 1-5 pips past the low of a candle, trigger a bunch of stops, and then explode back in the other direction. It is called stop hunting, and it lets the big boys get in at a great price. The buffer is there to make sure you get out of a trade when the market truly is moving against the signal.

It would be kind of silly to put 10+ pips stoplosses on a PA candle if you though that it was invalid after 1 pip. Again just my opinion.

[Piping_Hot]

It’s a great question and one that I would love to hear responses from others. But yes I personally don’t considers a PA signal invalid until it breaks past the buffer I place on it. The same way we can have false entries if we place our entry too close to the candle, you can have that same thing happen on your stops. The entry buffer and the stop buffer are both their to weed out false signals. A lot of retail traders will put their stops right on the other side of a candle, so it is not uncommon to see price poke out 1-5 pips past the low of a candle, trigger a bunch of stops, and then explode back in the other direction. It is called stop hunting, and it lets the big boys get in at a great price. The buffer is there to make sure you get out of a trade when the market truly is moving against the signal.

It would be kind of silly to put 10+ pips stoplosses on a PA candle if you though that it was invalid after 1 pip. Again just my opinion.

That makes sense to me! Let’s see what others think about it.

[bambino358]

Hi,
for me right now no trades.
Still waiting on EURJPY 4H. For me still valid signal.
Agreed with krugman25 buffer 5-10 pips. So it is logical to say that signal is invalid after 5-10 pips if it breaks through potencial SL. It is only more comlicated and for me illogical to place SL 5-10 pips below/above PB (thats definetely right) but saying that signal is invalid after 1 pip.

[jackson905]

@Kasravi

Hi All,

Eur/Jpy H4 Pin bar
Pull back play from most recent flip point.

I was stalking that area to get long, and bam a nice pin bar comes up!

What you recon?

Cheers

Hey man nicely spotted. Looks like its going to trigger you guys entries soon! Nice PA!

I dont play Intraday setups for now so im not in bt definitely a good looking one!

Gd luck for those who are in!

Jack

[EternalNewB]

It’s a great question and one that I would love to hear responses from others. But yes I personally don’t considers a PA signal invalid until it breaks past the buffer I place on it. The same way we can have false entries if we place our entry too close to the candle, you can have that same thing happen on your stops. The entry buffer and the stop buffer are both their to weed out false signals. A lot of retail traders will put their stops right on the other side of a candle, so it is not uncommon to see price poke out 1-5 pips past the low of a candle, trigger a bunch of stops, and then explode back in the other direction. It is called stop hunting, and it lets the big boys get in at a great price. The buffer is there to make sure you get out of a trade when the market truly is moving against the signal.

It would be kind of silly to put 10+ pips stoplosses on a PA candle if you though that it was invalid after 1 pip. Again just my opinion.

Thanks, let’s see how it plays out…

[krugman25]

Hi,
for me right now no trades.
Still waiting on EURJPY 4H. For me still valid signal.
Agreed with krugman25 buffer 5-10 pips. So it is logical to say that signal is invalid after 5-10 pips if it breaks through potencial SL. It is only more comlicated and for me illogical to place SL 5-10 pips below/above PB (thats definetely right) but saying that signal is invalid after 1 pip.

After price was precariously close to breaking the low of that candle, in a few minutes shifted gears and is about the break the high of that pinbar.

[Songok]

My gbp/jpy order was just triggered, and now its a little back. Lets make some money

[Matthgm]

My gbp/jpy order was just triggered, and now its a little back. Lets make some money

Looks like all JPY pairs are on the move

[jackson905]

My gbp/jpy order was just triggered, and now its a little back. Lets make some money

Its gonna be fast cash if you in live!!

ALL EUR pairs are up across the board!

opps sorry thought u were talking about EURJPY bt nonetheless, its going up tooo!

[afdx]

Sorry same post.

[afdx]

Hi to all friends. Kasravi thanks for sharing EURJPY. I entered after break the PB. It is going good.

[Mr_B_A_Barracus]

Checking in on the GBPJPY 4H chart with buttocks firmly clenched…

[bambino358]

Hi,
the best what you can do right now is turn your computer off and don’t look at chart. You can do nothing with it right now. You must make the best what you can do before you take the trade. How say one of the best price action trader (not me )
Set and forget ;).

[Mr_B_A_Barracus]

Hi,
the best what you can do right now is turn your computer off and don’t look at chart. You can do nothing with it right now. You must make the best what you can do before you take the trade. How say one of the best price action trader (not me )
Set and forget ;).

Thanks Bambino, Yes I do this now but do like to check in every four hours if it is the 4hr chart or daily if it is the daily chart etc to manage my trade.

[bambino358]

Of course I look at it every 4H too.
i only want to say that it is not good way to sit before your screen and check your trades every 5 minutes.
When I start with trading i check trades for hours and if trade was good i said to myself Ok, but if trade goes in wrong direction you experiencing it much more than winning trades … it mean you only torture yourself.
We all know that it is A+ trade and we all know that all A+ trade don’t finish in profit … it is trading.
We make the best before the trend … now it is only on market.

[adamjn]

GBPJPY H4 Pin Bar Trade Stopped out

[EternalNewB]

GBPJPY H4 Pin Bar Trade Stopped out

here too

[Mr_B_A_Barracus]

Of course I look at it every 4H too.
i only want to say that it is not good way to sit before your screen and check your trades every 5 minutes.
When I start with trading i check trades for hours and if trade was good i said to myself Ok, but if trade goes in wrong direction you experiencing it much more than winning trades … it mean you only torture yourself.
We all know that it is A+ trade and we all know that all A+ trade don’t finish in profit … it is trading.
We make the best before the trend … now it is only on market.

Very true Bambino but perhaps you would like to purchase my new Trader 3000 Extreme Buttock Clencher for those times when trades go against us, only £63.99 and available from all good retail outlets. Please PM me for delivery options.

BA