Forex Price Action

[Yumei]

Just one issue with me, there are lots of traffic candles on left side, just have a little land to move.

@ivan7342

Hello Guys, i´watching this one:
USDCHF D1

As far as i can tell, it´s with the trend.
Good size pinbar.
Entry would be 0,9080
SL 0,9186
TP 0,8995

Am i missing something?
Thanks!!

[darthfrancis]

Setups are dropping like flies

I’ve got a buy stop set for 10 pips higher of the PB. :41:

[dudest]

@marketdeal

It,s against the recent uptrend .What strong market levels you have for taking a counter trend setup like this?

@tse13

i agree with marketdeal or should i say i don´t understand why this is a high probabiltiy setup?! it is nearly against all that is teached in this thread?!

• against the trend
• no pullback
• no reversal pattern? (ok on H4 you could see one but not really outstanding and obvious)

is it some kind of advanced stuff?

maybe someone can please enlight me! i would have wait to let it break through, then testing this area and go long with a sign.

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

@bhops

Are you talking about the EUR/CAD D1?

I would call this range trading and wouldn’t recommend it for beginners. However we can see price has clearly hit the top of a well defined range and stalled.

Although I don’t place a huge amount of stock in them price has formed something of a ‘double top’ pattern. See below:

If we get a close up look at the level price has stalled there and has now printed out a BEEB on Friday. The BEEB also contained a wick which shows a false break through Resistance before whipping back.

Yesterday was an Inside Bar and today we have finally had a break of the BEEB to go short.

…and that’s why I call him Sensei Bryce!, couldn’t have come close to explaining it as good :)!

Cheers

.

[dudest]

Maybe he could have told Darth to make sure he doesn’t let his trading go over to ‘the dark side.’ :18:

Or maybe something along the line like, ‘Darth, I’m your father…’

LOLEST! Too fresh!

@Darth: with such a handle, it was gonna come sooner or later…

.

[dudest]

@wm247

The more important issue is, does this trade fit your trade plan? If it’s not, then it’s actually a wise move to let it go. I was tempted myself, but then I found out that this trade does not fit my personal trade plan (VBRN 1.40000 ahead BEEB), so I simply let it go. It doesn’t matter if it goes down, that’s irrelevant as it is not in my plan to take that kind of trade.

Even among seniors, they have different and highly personal trade plan. You can see it yourself that while bhops took this trade, Johnathon did not. I don’t know about dudest.

Very true.

I personally did not take it ( doesn’t mean I didn’t agonize over it! Just look over to the left to see what happened the last time price was here at the top of the range… )

I hope for Bryce that he’s still in, and that it smashes lower.

Let’s also see if anything happens ( to the long-side ) in the 1.3900-1.3950 range…

Cheers

.

[dudest]

@robocop1

Price Approached Long term Weekly Support. Nice Round number and looking for Pinbar formations. Market has been in slight downtrend, looks like it will pull back. Waiting for some actions here.

Watching GBPNZD too like a hawk!

Price is at a key area ( BRN 1.9000 ). Let’s see what happens…

PS: anyone who took the BEEB last week would have been sitting pretty right now ( 500pips+, that’s GBPNZD volatility for you)

Cheers.

.

[darthfrancis]

LOLEST! Too fresh!

@Darth: with such a handle, it was gonna come sooner or later…

.

loving the star wars quotes!! more please :60:

[dudest]

loving the star wars quotes!! more please :60:

<waving hand> These are not the setups you are looking for…move along…!

[dudest]

@chisha

Darth Silver looks good but I’m exposed in other trades so I’ll pass it.
this is SILVER

Hiho silver away!!

LOL! The Lone Ranger rocked!

That was a lovely rejection of support! But the marked wick areas signal trouble for me.

I also like to have my pin bodies at the KHL (key horizontal zone), with the tail sticking out and giving a false break of the level.

So not for me

Cheers.

.

[darthfrancis]

@dudest

LOL! The Lone Ranger rocked!

That was a lovely rejection of support! But the marked wick areas signal trouble for me.

I also like to have my pin bodies at the KHL (key horizontal zone), with the tail sticking out and giving a false break of the level.

So not for me

Cheers.

.

“these aren’t the trades i’m looking for”. moved along sigh.

well i’m in this and my only t/p is the FSA so we will see but i made some errors in my trading yesterday by not allowing the daily bar to close and entered the trade prematurely.

my bad.

Darth

[EternalNewB]

@dudest

Very true.

I personally did not take it ( doesn’t mean I didn’t agonize over it! Just look over to the left to see what happened the last time price was here at the top of the range… )

I hope for Bryce that he’s still in, and that it smashes lower.

Let’s also see if anything happens ( to the long-side ) in the 1.3900-1.3950 range…

Cheers

.

@dudest

Watching GBPNZD too like a hawk!

Price is at a key area ( BRN 1.9000 ). Let’s see what happens…

PS: anyone who took the BEEB last week would have been sitting pretty right now ( 500pips+, that’s GBPNZD volatility for you)

Cheers.

.

@dudest

LOL! The Lone Ranger rocked!

That was a lovely rejection of support! But the marked wick areas signal trouble for me.

I also like to have my pin bodies at the KHL (key horizontal zone), with the tail sticking out and giving a false break of the level.

So not for me

Cheers.

.

Man you should post more, I mean much more

This is great to read and learn from

[dudest]

@EternalNewB

Any opinion on the EUR CHF daily pin bar ?

Hey EB,

I still don’t have EURCHF in my watchlist ( due to SNB heavy tampering )[ though some have managed to make good use of that, see Zorro Trader project, Z5 script if automatons pique your interest ]

For your sake [ ] I’ve checked it out. Nice pin, formed at a mid-range level. Could work out well, esp if the prior climb was just a retrace for the previous down-swing.

Are you taking it?

Cheers

.

[Muhammad_Saeed]

@dudest

LOL! The Lone Ranger rocked!

That was a lovely rejection of support! But the marked wick areas signal trouble for me.

I also like to have my pin bodies at the KHL (key horizontal zone), with the tail sticking out and giving a false break of the level.

So not for me

Cheers.

.

Great insight bro :54:

[wm247]

loving the star wars quotes!! more please :60:

“these aren’t the trades i’m looking for”. moved along sigh.

well i’m in this and my only t/p is the FSA so we will see but i made some errors in my trading yesterday by not allowing the daily bar to close and entered the trade prematurely.

my bad.

Darth

Okay, there is one Star Wars quote that really fits this situation. You know which one, don’t you…? :16:

[B]“NNNNOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO…”[/B]

[dudest]

“these aren’t the trades i’m looking for”. moved along sigh.

well i’m in this and my only t/p is the FSA so we will see but i made some errors in my trading yesterday by not allowing the daily bar to close and entered the trade prematurely.

my bad.

Darth

You’ve learned enough to self-correct Darth :), that’s what counts!

@Silver: it may very well work out ( who knows? may explode up never to come back again! )
So just carry on with your original plan, that way you won’t have beaten yourself

Cheers!

[EternalNewB]

@dudest

Hey EB,

I still don’t have EURCHF in my watchlist ( due to SNB heavy tampering )[ though some have managed to make good use of that, see Zorro Trader project, Z5 script if automatons pique your interest ]

For your sake [ ] I’ve checked it out. Nice pin, formed at a mid-range level. Could work out well, esp if the prior climb was just a retrace for the previous down-swing.

Are you taking it?

Cheers

.

Much obliged dudest thanks

Yes I am in it although I did a mistake of selling at market price instead of putting up a pending order so I am in before confirmation however, since it was at midrange, I sized 1/2 my normal risk so I am ok with the loss

I also noticed it is a pretty nice fakey setup at 12H time frame

Let’s see how it goes

[dudest]

Hi Dudest:
No, I’m not brave, I have problem with ALPARI UK charts. See post #14177
Thank You.

Aaah, ok.

But you’re still brave (as a person )

Did you remove your pending orders? Have seen price has dropped away to the underneath support zone.

Cheers

[dudest]

@mselva

I took full profit on USDCHF D1, now waiting to going short.
As always comments are welcome.
Cheers,

Nice trading and management!

Cheers!

[darthfrancis]

You’ve learned enough to self-correct Darth :), that’s what counts!

@Silver: it may very well work out ( who knows? may explode up never to come back again! )
So just carry on with your original plan, that way you won’t have beaten yourself

Cheers!

Unfortunately my AUDJPY and NZDJPY got stopped out this morning and it really stings as I prematurely entered before daily candle closed.

I am really pissed at my self but you live and learn and better to learn these mistakes with smaller lots than when i have a bigger account and bigger lots.

[dudest]

@chisha

BEEB at resistance on CADJPY D1

Hey chisha!

Another mid-range setup.

Only worse is that CADJPY D1 has several levels that price could turn ( e.g see 94.00 not far below the BEEB )

Would rather only take a trade from the top & bottom of the current range.

.