Forex Price Action

[LeonMiyavia]

Hello,

it is super dooper important every trader undertsands the length of trade they are looking for and what type of trader they are because from that they can then look for the different trends in the charts.

The vast majority of traders are always on the wrong side of the trend and this is not because they want to be, it is because they think think they are trading with the trend, but they don’t fully understand what trend it is they should be trading with.

Every chart has multiple trends, but not many traders understand this. You only really here traders talk about the “trend”. “Go and trade with the trend”, well that’s great, but what every trader really first needs to understand is how long they trade for because this will determine what trend they look at.

We are swing traders. As price action traders, we are trading price action swings. We are taking pins and other price action signals from key levels and then trading them back into the next price action key level. These can last anywhere from 3-8 sessions normally and sometimes longer on really big runner trades. For us it is so very important to get on the correct side of the next swing and with the short term trends. It is very important that when the next short term trend is moving, we are moving with it. Does this make sense? If we are making money of the swings, we need to be in-line with the trend that is most recent.

If we were long term trading we would not be concerned at all with this short term trend one bit. We would be looking at the overall trends. But our trading would also be completely different. We would be looking to trade for periods of weeks to months and we would be looking to have stops in the thousands of pips. We would look to trade the same way but on a large scale.

So basically if you are looking to make money by trading with price action swings you need to ensure you have the next swing going your way. This is often why the 1,2,3 can be used so effectively with what we trade.

AUDCAD DAILY CHART
<img src=“301 Moved Permanently”/>

Johnathon

Hi Johnathon.

First I wish to say I do not mean to oppose what u said. Its just that I hope to hear more details about e decisions u made. If I did made u feel bad I am sorry.

I am not at all clear about the 1,2,3 thing. Is it that once this 1,2,3 has been established we can say that a new trend has started?

[cams75]

I don’t like to be rude, but a few of the brokers you mention there have problems that Johnathon himself does not really like. I strongly suggest eignerdauL verify it directly with Johnathon -or whoever he has vouched to give an accurate opinion for FSO trading like [B]bhops[/B] or [B]dudest[/B]- about why certain brokers have that kind or problems, and not just random people in this thread as it can be confusing. Maybe it’s daylight saving problem, or 6-day candle chart, or inconsistencies of showing offer chart instead of bid chart.

To be fair, they do look like NY Charts if they don’t have that kind of problem.

You didn’t sound rude but I don’t need someone to hold my hand to tell me if a broker has the correct charts. They show 5 day candle, bid price etc so leave it at that shall we and just choose a broker that has NY charts. K.I.S.S my friend no need to over complicate things.

Not sure of these problems but that they are all regulated perhaps he is not affiliated with these ones that he has problems with:33:

[darthfrancis]

Where is this BUEB?

At work at the mo, but will show you a chart later.

darth

[GabbyFX]

Hi Johnathon.

First I wish to say I do not mean to oppose what u said. Its just that I hope to hear more details about e decisions u made. If I did made u feel bad I am sorry.

I am not at all clear about the 1,2,3 thing. Is it that once this 1,2,3 has been established we can say that a new trend has started?

The trend trading Tutorial will help: How to Trend Trade Price Action | In Depth Tutorial

[Forex_School_Online]

@Kasravi

Hi Eternal,

If you got some spare money throw it into usd/cad. That pair seem to dry up in liquidity,it barely moved in the last 13 trading sessions.

Cheers

Now it has broken the high of the weekly pin bar it may finally begin to get a wriggle on and make a move into the first resistance area… It has not done anything for the last few weeks, but that is hardly surprising if you have a look at the daily chart and all the recent traffic it was trading back into the left. When you are trading back into a lot of traffic, then you have to expect price will take time to work through it and this is why we look for as much space as we can.

USDCAD WEEKLY CHART

[dudest]

Hey Will,
…I can’t give him evils for that. I mean not reading this thread for a day or two and catching up becomes a project itself!
Moreover volatility is not at it’s greatest… he’s probably sitting in the shade and smoking pip with you know who.

Cheers

Yeah!, smoking pip with Merry n Pippin!

Actually, haven’t been trading past two weeks, day job + life pressures have been on the rise, so haven’t been in the best frame of mind to trade.

Price to pay for not being in here daily = 500+ posts (!) [ what are you guys smoking?! ]

[dudest]

@marketdeal

Hi everyone)Everyone can answer this question but it will be more good if seniors like Jonathan and dudest answer this question.
In many of Jonathan,s articles he said that we should only trade the intra day charts like 4H,8H and 12H from the daily levels.But many times we can,t see the minor retracements and pullbacks(S&R areas) on the daily charts but we can see them on smaller intra day time frames.So is it okay to mark those pull-back areas on intra day time frames and trade from those areas?In the past i did that and had success.Am i doing right?Or i am doing wrong and developing bad trading habits which are not good for getting profitable in the long run?
Thanks
Secure Trading

Hey MD,

This is purely my opinion.

Each timeframe has it’s own S/R’s.

Marking intra-day S/R’s and taking trades off them is not wrong, and can produce good opportunities.

However, intra-day trades from higher time-frame S/R’s ( e.g H4 trade from D1 zone ) have even HIGHER probability for success.

I used to mark off H4 alot in the beginning, and got quite a few good trades. But nowadays, I only take trades marked off D1 or W1 ( better confluence + high probability )

Cheers

[dudest]

The trend trading Tutorial will help: How to Trend Trade Price Action | In Depth Tutorial

Long time no see Gabby

.

[dudest]

How cn i benifit frm this thread?

Eeeh, read it and learn how to trade for yourself?

[dudest]

Thanks kasravi. Could you tell me what time would be the Frankfurt market open time, in terms of how many hours before or after the London open?

Many thanks!

Market sessions in your timezone! Forex Market Hours - Forex Market Time Converter

.

[dudest]

@Recent trades:
In addition to the trades that have been already discussed, I think this GBPNZD D1 BEEB was also a good one [ I’d have taken it ] ( I know someone posted it, but I think it flicked by… )

@Watching:
USDCAD D1…oh brother!

@Salutations:
Sad to see Krugman no longer here. All the best in your thread bro!, will be dropping by to check it out.

Cheers

.

[wm247]

Yeah!, smoking pip with Merry n Pippin!
Price to pay for not being in here daily = 500+ posts (!) [ [B]what are you guys smoking?![/B] ]

Well, you know… pips? Hey, don’t blame us… it’s Coach J himself who told us to smoke some pips when there is no A+ setup around.

[Kasravi]

Yeah!, smoking pip with Merry n Pippin!

Actually, haven’t been trading past two weeks, day job + life pressures have been on the rise, so haven’t been in the best frame of mind to trade.

Price to pay for not being in here daily = 500+ posts (!) [ what are you guys smoking?! ]

Cheers Mate!

Good to have you back.

[chisha]

Dudest if you didn’t put this up I would not have noticed that I don’t have GBPNZD on my watchlist mxim.

[QUOTE=dudest;548255]@Recent trades:
In addition to the trades that have been already discussed, I think this GBPNZD D1 BEEB was also a good one [ I’d have taken it ] ( I know someone posted it, but I think it flicked by… )

[darthfrancis]

@Forex_School_Online

Where is this BUEB?

Hi mate this happened a couple of days ago and got stopped out last night.

it was against the trend but looked to me a good reversal signal.
thoughts are always welcome.

Darth.

[SkyHigh]

EUR/GBP has formed quite a juicy weekly BUEB, but I don’t really like the levels all that much.

Comments appreciated.

[Kasravi]

EUR/GBP has formed quite a juicy weekly BUEB, but I don’t really like the levels all that much.

Comments appreciated.

Hi Skyhigh and Everyone,

I took note of it last weekend, but I knew I wasn’t going to play it.
However it tells us a great price action story. That weekly BUEB on E/G is engulfing 3 weeks!
Moreover it covers a very critical Resistance area.

What we can understand from that PA signal is that the last month was rubbish in terms of volatility.
But with such a huge bar coming into play means that market is picking up and is ready to make a move. Looks like the consolidation is breaking up after all.

Now with Eur/Gbp making a move it is only a matter of time before other correlated pairs start their next swings. That is why it is Important to have S/R lines ready on your pairs in order to be able to trigger once we get the right PA signal. Believe me in times like now when market is slow you’ll think to yourself ‘ah there is nothing to catch’ and then out of the blue those huge pillars of candles are all over your charts rushing through S/R lines like a herd of bulls . That will leave most unexperienced traders stunt and thinking why am I not on this?
Just some food for thought.

I wish all the very best of luck. and stay sharp!

Cheers

[bhops]

@darthfrancis

Hi mate this happened a couple of days ago and got stopped out last night.

it was against the trend but looked to me a good reversal signal.
thoughts are always welcome.

Darth.

The problem was the zone overhead that got hit literally to the pip and then reversed back down with the dominant trend.

[frosty85]

Hi all,

Just wanted to get a comment on a demo trade I did a few days ago. Hope this is exactly what we should be doing, lol

-Trade Entry Reason: Pin bar - Reversal play (from a resistance level)
-Trade Management: exit 50% at 1st target, exit 50% at 2nd target, stop loss 10 pips above pin bar
-Reason for not moving stop loss to breakeven: volatile market conditions (from observation of previous candles range)

Any comments appreciated

Also, I have joined Johnathon’s members only area I must say there are many valuable information just from the first course.

[Forex_School_Online]

@frosty85

Hi all,

Just wanted to get a comment on a demo trade I did a few days ago. Hope this is exactly what we should be doing, lol

-Trade Entry Reason: Pin bar - Reversal play (from a resistance level)
-Trade Management: exit 50% at 1st target, exit 50% at 2nd target, stop loss 10 pips above pin bar
-Reason for not moving stop loss to breakeven: volatile market conditions (from observation of previous candles range)

Any comments appreciated

Also, I have joined Johnathon’s members only area I must say there are many valuable information just from the first course.

Heya Frosty,

(it helps if you name the pair & TF)

you picked a really hard market to trade of the bat. This was really tough. When assessing your next trade to go for, first jump to the daily chart and first just look at it. If it look like a pile of poo (just kidding), bust seriously, if it looks like Gold and ranging and boxed up and going no where it means that anything you trade is pretty much going to do the same i,e it will box and go no where.

In saying all of that however, your trade was from the high which is a massive tick and nice resistance which was also solid.

Just this Gold just is a real worry and I would be really cautious for any one looking to trade it at the moment. If you look below this pin you played there were so many areas that could have acted as support at any stage for price to turn and that was what I was referring to as the traffic or the range. If you look at this on the daily this is the “winding up”. If you mark your key support and resistance on the daily chart and trade your 4hr trades from your daily levels this should keep you out of trouble.

PS: Thanks for nice comments. Have recently just spent 5 weeks making new revision on it for members where added 60 pages and 8,000 words.