Forex Price Action

[Kasravi]

Thanks for the kind words Kas!

Aaah, the stopped out yens…

I think they ( EURJPY H4 and GBPJPY H4 ) were both A+

Price on both has been moving to places it’s not been in years, and pullbacks in strong moves can be shallow (esp on D1).

So lower TFs (e.g H4) present better opps since the pullback is more defined [ with the recent D1 highs acting as new support ]. In this case, the H4 pins were on formed at previous D1 highs.

I was in the EURJPY trade as well. Since I followed my process (including risk determination in advance), the loss did not sting, the trade was probable as all others, and I’d given it a chance to work out. More will come

Cheers!

<img src=“301 Moved Permanently”/>

<img src=“301 Moved Permanently”/>

.

That was some great post!
I think folks had doubts about those trades and it was critical to hear from a much valued member that there was nothing wrong with it.

Cheers.

[bigcheefer30]

@ bigcheefer30
that was useful, thanks. What do you think on USD/NOK? Thanks in advance

Glad to help out.

[Piping_Hot]

Hi all,

Here is a setup I decided to take. Didn’t get triggered yet.

Doesn’t look very clear,

AUDJPY 8H Entry: 92.63 TP1 93.4 TP2 94.2 SL 91.79

Also forming something promising on the daily, maybe it’s time back to carry trade for the big guys.

[Piping_Hot]

EURCAD is going upwards and doesn’t look good.Well i must stick to my plan .

It’s not over yet ! Go bears !

[dudest]

@marketdeal

EURCAD is going upwards and doesn’t look good.Well i must stick to my plan .

Hey!

I’m also in the EURCAD D1 BEEB ( at key level after pullback from down-swing + formed at RN ). Suweet setup in my books.

Cheers

.

[ansunirmal]

GBPAUD target hit … And EURJPY running will see…"…

[Piping_Hot]

@dudest

Hey!

I’m also in the EURCAD D1 BEEB ( at key level after pullback from down-swing + formed at RN ). Suweet setup in my books.

Cheers

.

Thanks for letting us know. That suddenly grows my confidence a lot !

Yves

[Songok]

@dudest

Hey!

I’m also in the EURCAD D1 BEEB ( at key level after pullback from down-swing + formed at RN ). Suweet setup in my books.

Cheers

.

Could You elaborate about this trade? Why are you trading against the trend?

[EternalNewB]

@dudest

Hey!

I’m also in the EURCAD D1 BEEB ( at key level after pullback from down-swing + formed at RN ). Suweet setup in my books.

Cheers

.

I am sorry this will sound stupid but I don’t get it really :S sweet setup to long or to short ?

The BEEB is a trigger to short when pin bar and bullish candle are bullish signs so I am lost

[krugman25]

USD/ZAR weekly, bullish pin??? Also USD/NOK weekly, bullish pin? Thanks

I decided to take the NOK over ZAR. Right now up about 800 pips.

[Piping_Hot]

I decided to take the NOK over ZAR. Right now up about 800 pips.

It’s party tonight at krugman’s place ! Is Norway filling for bankruptcy or what ?

[EternalNewB]

I decided to take the NOK over ZAR. Right now up about 800 pips.

can you please share your entry point ? I entered @ 5.969 that’s about 450 pips (1/2 of your 800) !!!

irony wants it that one setup is running just fine you are on a demo account

[krugman25]

can you please share your entry point ? I entered @ 5.969 that’s about 450 pips (1/2 of your 800) !!!

irony wants it that one setup is running just fine you are on a demo account

High of the weekly was 5.9465., I decided to give it a 35 pip buffer and went long at 5.9500. It’s pulled back a bit since this morning and is up about 650 pips. I have 1 take profit level at 6.1000.

It looks like you gave the weekly candle a buffer of about 225 pips.

[dudest]

Hi dudest
I took this one and I got stopped out . a question . Can we move our Stops to BR when we get to a very strong SR or VBRN and don’t take profit ? If we want to tp , the RR is not gonna be good .

What should we do in these situations ?
Thanks

Hey abc,

http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action-37.html#post328078

Mr J:

When we enter a trade price will go to an first area of what we is a possible stall or reversal area. I call these first support and first resistance area or FSA and FRA. When price gets to this area traders can do a few things:

• Move to break even
• Take full profit
• Take partial profit and move remainder to BE
• Do nothing

So to answer your question: yes, you can choose to move to BE and not take profit.

Even better if what you’ll do at FSA/FRA is written down (planned) before you even enter the trade [to make sure you execute and don’t second guess].

Cheers

.

[dudest]

I am sorry this will sound stupid but I don’t get it really :S sweet setup to long or to short ?

The BEEB is a trigger to short when pin bar and bullish candle are bullish signs so I am lost

I was talking about the BEEB, a nice setup to go short.

.

[dudest]

@Songok

Could You elaborate about this trade? Why are you trading against the trend?

How I see it:

KHL @ 1.3900 RN

A: price found resistance at KHL, resistance held

Between A and B: price broke KHL; old resistance looking to hold as new support

B: new support held shortly before breaking; old support now looking to hold as new resistance

C: price at KHL again; BEEB formed at level looking to hold as new resistance

If price can fall away under the BEEB, the 1-2-3 ( swing + pullback + swing continuation ) will be complete.

Cheers

.

[EternalNewB]

High of the weekly was 5.9465., I decided to give it a 35 pip buffer and went long at 5.9500. It’s pulled back a bit since this morning and is up about 650 pips. I have 1 take profit level at 6.1000.

It looks like you gave the weekly candle a buffer of about 225 pips.

I took the last digit of the decimal for a pipette not a pip:)

[Songok]

@dudest

How I see it:

KHL @ 1.3900 RN

A: price found resistance at KHL, resistance held

Between A and B: price broke KHL; old resistance looking to hold as new support

B: new support held shortly before breaking; old support now looking to hold as new resistance

C: price at KHL again; BEEB formed at level looking to hold as new resistance

If price can fall away under the BEEB, the 1-2-3 ( swing + pullback + swing continuation ) will be complete.

Cheers

.

Interesting analysis, do You trade setups like this often? When the trend isnt yet reversed?

[bambino358]

Hi,
i want to say something to EternalNewB but it can be helpfull for all. First of all I must say that I LOVE THIS FORUM but:
I’m a little bit concerned about your solution trade only on 1D chart. It cannot help you trade only 1D charts if you have bad money management. I want to say that money management is not only “how many % of my account i want to risk”. It is about everything you do after you decide to take a trade. Where place SL, where make entry, where place TP, 1 or more TP … If you have bad MM trading on 1D charts isn’t solution. For me you should trade demo account and trade everything on 4H,8H,12H,1D… Why? Because it is all about experiences, “sense for the market” so you need trade, you need look at the charts and thinking about them. On this thread it is not about trading strategy it is only about entry signals and noone who bought the course cannot talk about MM but MM is important it is “holy grail” of using PA.
If you look at successful forex trader they don’t use same entry signal they use everything RSI, CCI, MACD, price action … but what is same for all? They have great money management. You cannot learn it like recognition entry signals but you can follow some basic rules which you probably give in Jonathon’s course and then you must learn yourself… read book, look at forums, be suspicious even if it is Jonathon, Dudest or other “senior member” you can learn a lot from stupid question and nothing from blindly following.
Nothing again this forum but it is probably the most strict and tight in choosing entry signal (thats great) that i have ever seen but sometimes it is too meticulous in choosing entry signal what is maybe 30% of success but say almost nothing about MM what is maybe 70% of success. Again it is fine cause this forum is about entry signals.
So my advice: try to upgrade your MM because your entry strategy is definetely A+ in global view even if people on this thread tell you that “it is probably not A+ trade because there is a mess on the left side” ;).
Just my opinion.
Cheers
bambi

[Mr_B_A_Barracus]

Hey Guys

Just looking at this pin bar that has formed on the AUDCAD 4hr:

Trend looks to be up, it’s a nice pin, but has some traffic ahead, any thoughts?