Hi Krugman, thanks for this. I think I had my risk percentage at about 1 percent but as I am new to trading the bigger time frames I suppose the loss just seems a little scarier (about 100 dollars per trade) but I am sure I will soon make it back with the next good PA. This was my first two official PA trades and I suppose like anyone it’s a little scarier catching up from a deficit than trading from profit if that makes sense. But I am feeling positive and will stick with it.
Kind of funny the irony of it all but GBPJPY and AUDJPY are both forming some very impressive price action setups. On the AUD flavor, a huge EB and on GBP flavor a huge 2BR. Also on daily an EB and Pinbar respectively.
I’m looking at it too.
AUDJPY it is very solid support.
NZDJPY 4HR is good!!!
The market wants to give it back to us 
I love the pinbar but there is some major resistance overhead at 82.50.
I take NZDJPY 4H.
know there is resistance but still think it is good trade (AUDJPY resistance too on 93,400)
93.4 is a key level indeed.
93.4 is important level but for me not key. Key level is for me around 92.8 - 92.9 and price is now above this level.
What’s the value of that top horizontal line if you don’t mind me asking please?
83.40 its too shorrrrrrttttttt
Sorry, but the post confused me. Are you not seeing the price action candles that I have mentioned earlier? Because I see them right in the charts you post.
I saw the candles, I just couldn’t see how the daily key levels correspond @ the 4HR level?
I figured that one out, I was looking for your support line value… I think its around 81.32…good level.
Solid FTA: 82.34, then move to BE.
I agree the level you chose is an important level, I don’t think it’s the nearest support. You can see the candles from 9/10 to 9/18 formed a resistance area(yellow line), and then once price broke through we see that level has now been tested as support a couple times. Again in a strong trending pair, those recent SR levels will fire off key PA and let you get in the trend, and many times price doesn’t pull all of way back to those levels where price was consolidating. This is different than when trading ranges as there is not trend to play from so you just wait for price to reach those extreme high and low SR levels in the range box.
I think we have been taking range trades so long, it’s hard to make the shift over to trading a strong trending pair. Since price tends to act a little different in a trend than in a range.
If price had broken the near term SR level and held, I would have then started watching for PA to form at your marked SR level.
Ok much clearer. The only thing that scares me is that 156.72 is a 3 year high. If anything I’d like to see something form on the D1 chart, but we still have 3 hours. Good spot though and thanks for sharing. I agree there was a very strong recent uptrend and we may not get the signals we want to get on board in these types of markets.
It was the 3 year high, the new 3 year high is now 160. I get what your saying though, that was a key price level where price broke out of its range. I’m just saying I wouldn’t dismiss these other levels, as they are relevant, which can be seen by all of the PA signals formed today.