Forex Price Action

[rcreddyvanga]

EUR/NZD Long.

Chart EURNZD, D1, 2013.11.11 13:49 UTC, Multibank FX International, MetaTrader 4, Demo - MetaTrader Trading Platform Screenshots

[darthfrancis]

@dudest

Hallo mantra,

Saw the similar pin on D1.

Formation-wise, it looked perfect!

Only reason I didn’t take it was because of WHERE it was formed, i.e above a level near RN 0.8700 that has been relevant recently, and that could cause a downward move to struggle.

Had the pin closed BELOW this level ( thus making it a BEEB ), I’d have been all over it.

Cheers

.

I thought the same, glad I’ve learned something. lol.

Question though dude, how did you modify your graph like that?

Darth

[sivricmarijan]

Is this a BUEB forming on EURGBP? What do you think about my S/R lines?

[darthfrancis]

EUR/NZD Long.

Chart EURNZD, D1, 2013.11.11 13:49 UTC, Multibank FX International, MetaTrader 4, Demo - MetaTrader Trading Platform Screenshots

Hey there, saw this myself. Didn’t take it personally. Even though its a nice size bueb at a swing low the FSA was too close to warrant the appropriate S/L. So thought it too risky. Good luck though if your in.

Darth

[dudest]

@sivricmarijan

Is this a BUEB forming on EURGBP? What do you think about my S/R lines?

Hallo sivric,

A BUEB/BEEB must FULLY ENGULF the candle before it; this one does not

–> http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action.html#post309174

You’ve entered a BUY at market before the D1 candle has closed. We don’t do that. We set pending orders AFTER a setup candle has closed

Your SR’s look fine (my lower one is abit higher). Though I’d throw in another around 0.8450

PS: I could be wrong, but I think your charts have a Sunday candle (!), that’s a problem, please double-check

Cheers

.

[Yumei]

it looks like that is 6daily candle per week, i dont see any setup on 5 candle chart.

Hallo sivric,

A BUEB/BEEB must FULLY ENGULF the candle before it; this one does not

–> 301 Moved Permanently

You’ve entered a BUY at market before the D1 candle has closed. We don’t do that. We set pending orders AFTER a setup candle has closed

Your SR’s look fine (my lower one is abit higher). Though I’d throw in another around 0.8450

PS: I could be wrong, but I think your charts have a Sunday candle (!), that’s a problem, please double-check

Cheers

.

[kneesup]

Is it not a little strange that this course costs $287 yet it’s still in the “free” section - maybe someone can explain ?

[sivricmarijan]

@dudest

Hallo sivric,

A BUEB/BEEB must FULLY ENGULF the candle before it; this one does not

–> http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action.html#post309174

You’ve entered a BUY at market before the D1 candle has closed. We don’t do that. We set pending orders AFTER a setup candle has closed

Your SR’s look fine (my lower one is abit higher). Though I’d throw in another around 0.8450

PS: I could be wrong, but I think your charts have a Sunday candle (!), that’s a problem, please double-check

Cheers

.

Yes, this candle started to form on Sunday, but what’s wrong with that? Sometimes, I see a BUEB on my chart, sometimes I don’t…sometimes I don’t see a pin bar and you do…

But I found this on Johnathon’s blog: Bullish and Bearish Engulfing Bars Introduction

What’s the difference between my BUEB and his (we see a different chart - I really think that I have a BUEB)? :

BTW I know that I have entered the market before D1 has closed but I’m still practicing and trying to find my own system and I think there is nothing wrong with that! Do you think I will make money just by following your system? Maybe I’m another type of trader, right? Anyway, thanks for your help and I’m very happy I finally got a good S/R level!

[Will_Easton]

Hi all

As the EURUSD continues weaken, am I right to be looking for a retrace at the marked level on the graph and then bearish PA signals? How are my S and R levels looking?

Thanks, Will

[Will_Easton]

Me again!

I’m currently looking for a broker to open an account with (Just a demo to begin with of course), and I need something with flexible position sizes, i.e. no minimum trade size. Has anyone got any suggestions of brokers that allow this?

Thanks
Will

[darthfrancis]

Me again!

I’m currently looking for a broker to open an account with (Just a demo to begin with of course), and I need something with flexible position sizes, i.e. no minimum trade size. Has anyone got any suggestions of brokers that allow this?

Thanks
Will

Depends on what currency your looking to trade with and other criterias. I wanted to trade with GBP and I finally went for Vantagefx. Haven’t looked back since. Anyway do your research took me 2 months to decide.

Darth

[darthfrancis]

Hey all got a good looking setup i wanted to share.

GBPCHF D1. BEEB forming on the D1 chart at a swing high and a resistance level.

Caution. Pair currently ranging but this has formed at the top of the range.

Thoughts?

Darth

[Will_Easton]

Depends on what currency your looking to trade with and other criterias. I wanted to trade with GBP and I finally went for Vantagefx. Haven’t looked back since. Anyway do your research took me 2 months to decide.

Darth

Thanks for the quick reply, VantageFX looks great, think I’ll keep shopping around for a bit though. Looking at HotForex at the moment, any views on them?

Will

[Will_Easton]

@darthfrancis

Hey all got a good looking setup i wanted to share.

GBPCHF D1. BEEB forming on the D1 chart at a swing high and a resistance level.

Caution. Pair currently ranging but this has formed at the top of the range.

Thoughts?

Darth

Look like a pretty good BEEB to me. The only thing I’d be worried about is trading into all those smaller resistance areas just below the current level. Just my two cents.

Will

[dudest]

@wm247

Agree! dudest, how do you do that?? I beg you, please tell us how to do it. That will surely come in handy in the near future. :51:

@darthfrancis

…
Question though dude, how did you modify your graph like that?

Darth

You’ll be shocked at the simplicity [courtesy: MS Paint]

.

[dudest]

Is it not a little strange that this course costs $287 yet it’s still in the “free” section - maybe someone can explain ?

Go figure it out for yourself mate

.

[dudest]

@sivricmarijan

Yes, this candle started to form on Sunday, but what’s wrong with that? Sometimes, I see a BUEB on my chart, sometimes I don’t…sometimes I don’t see a pin bar and you do…

But I found this on Johnathon’s blog: Bullish and Bearish Engulfing Bars Introduction

What’s the difference between my BUEB and his (we see a different chart - I really think that I have a BUEB)? :

BTW I know that I have entered the market before D1 has closed but I’m still practicing and trying to find my own system and I think there is nothing wrong with that! Do you think I will make money just by following your system? Maybe I’m another type of trader, right? Anyway, thanks for your help and I’m very happy I finally got a good S/R level!

Feel free to trade your money as you desire. I wish you the best.

Cheers

[dudest]

Me again!

I’m currently looking for a broker to open an account with (Just a demo to begin with of course), and I need something with flexible position sizes, i.e. no minimum trade size. Has anyone got any suggestions of brokers that allow this?

Thanks
Will

The brokers listed on post #8 (301 Moved Permanently) are good both for charting and for trading (if you wish).

I personally have Pepperstone and AxiTrader live accounts (Aussie brokers are some of the the most regulated in the world), and AxiTrader (MT4) & RoboForex (MT5) demo accounts

Cheers

[dudest]

@Will_Easton

Hi all

As the EURUSD continues weaken, am I right to be looking for a retrace at the marked level on the graph and then bearish PA signals? How are my S and R levels looking?

Thanks, Will

Hallo Will,

If price can form a nice ‘V’ pullback to RN 1.3400, I will also consider going short if PA presents itself.

Watching in the coming days also how price reacts to RN 1.3200 or RN 1.3100 (for counter-trend opps)

Cheers

.

[Will_Easton]

@dudest

Hallo Will,

If price can form a nice ‘V’ pullback to RN 1.3400, I will also consider going short if PA presents itself.

Watching in the coming days also how price reacts to RN 1.3200 or RN 1.3100 (for counter-trend opps)

Cheers

.

Thanks for your advice Dudest. I’ve noticed that you put quite a lot of emphasis on RN, would you say they are more or less important than a good strong S or R level?

Thanks