Forex Price Action

[walker]

Decent looking EB on the h4 also

@darthfrancis

I have a good trade setup, on the gold D1.

2-BR at a swing low stopped at a KHL. Also to add a W1 is forming a sweet PB but there’s a couple of days till that plays out.

Darth
note. I’m new to IB’S and housing candles but I’m setting entry outside the break of the housing candle to be safe. Any advice on this subject would be appreciated. Thanks

This is how I’m playing it.

[goldenfisher]

@darthfrancis

I have a good trade setup, on the gold D1.

Good morning Darth,

thanks for sharing the gold setup, it seems to me very decent, however isn’t it heading into a bit of traffic? Please correct me if I’m wrong…

I’ve been reading about housing candles as well since they were mentioned the other day by Johnathon.

Good luck with your gold trade!

[mselva]

Hi Mr. Fox:
I have been out the market for a few weeks and I’m trying to come back. I saw the first page of this thread and noticed a new guide. I just want to congratulate you and thank you for this summary. You could edit all that for a book.
All my best.

[walker]

Hi goldenfisher,
Yes, you are right, it is heading into traffic, but thats where his TP is … as is mine…
cheers pw :59:

Good morning Darth,

thanks for sharing the gold setup, it seems to me very decent, however isn’t it heading into a bit of traffic? Please correct me if I’m wrong…

I’ve been reading about housing candles as well since they were mentioned the other day by Johnathon.

Good luck with your gold trade!

[rsharpe75]

Hi all!

Ok, so I’ve spent a good few weeks reading and am now in the process of re-reading using the glossary that has recently been posted. I’m trying to look at my charts and pinpoint set ups that have recently transpired in an attempt to make sure I have a solid trade plan going forward.

With that said, I’d like to show a chart and ask about a recent setup (may not even be a setup) and see if I am looking at things correctly.

I plotted my S/R “zones” on the daily chart and then flipped over to the H8 (my preferred time frame) on the AUDCAD. I have highlighted what I reckon is a BEEB. Would this have been a trade considered by anyone else in this thread? Am I on the right path to understanding this particular setup?

P.S: Babypips should seriously consider making the images clickable to the larger version. It’s hard to see almost all charts on this forum.

[dudest]

@Will_Easton

Is this a BEEB forming on the EURGBP Daily chart?

Will

Yes, that’s a BEEB at a nice level.

Not for me though, coz:

a) A stronger close would have been better
b) FTA is too close for my liking

Cheers

.

[dudest]

@Will_Easton

USDJPY is forming a wedge, waiting for a retracement to the bottom of the wedge and a buy signal there to signal a breakout. Any thoughts?

Will

Yeah, that wedge will have to break sooner or later (weeks?, months?)

The scenario I’m looking to play when that happens is as per chart below.

Cheers!

.

[dudest]

@rcreddyvanga

Anybody has entered this trade?

Chart GBPCHF, D1, 2013.11.13 17:22 UTC, Multibank FX International, MetaTrader 4, Demo - MetaTrader Trading Platform Screenshots

A couple of peeps did!

The level around 1.4600 gave peeps a chance to manage the trade ( take partial profit / move to BE)

Cheers

.

[dudest]

I did, got stopped out for small gain.

Darth

Good on you for not taking a full loss when you didn’t have to!

Cheers!

.

[dudest]

@darthfrancis

I have a good trade setup, on the gold D1.

2-BR at a swing low stopped at a KHL. Also to add a W1 is forming a sweet PB but there’s a couple of days till that plays out.

Darth
note. I’m new to IB’S and housing candles but I’m setting entry outside the break of the housing candle to be safe. Any advice on this subject would be appreciated. Thanks

This is how I’m playing it.

From my point of view:

2BR: Yes

Pros: formed at a great level ( extreme bottom of range; great place for longs )

Cons: it is not commanding

Cheers

.

[dudest]

@rsharpe75

Hi all!

Ok, so I’ve spent a good few weeks reading and am now in the process of re-reading using the glossary that has recently been posted. I’m trying to look at my charts and pinpoint set ups that have recently transpired in an attempt to make sure I have a solid trade plan going forward.

With that said, I’d like to show a chart and ask about a recent setup (may not even be a setup) and see if I am looking at things correctly.

I plotted my S/R “zones” on the daily chart and then flipped over to the H8 (my preferred time frame) on the AUDCAD. I have highlighted what I reckon is a BEEB. Would this have been a trade considered by anyone else in this thread? Am I on the right path to understanding this particular setup?

P.S: Babypips should seriously consider making the images clickable to the larger version. It’s hard to see almost all charts on this forum.

Hallo rsharpe!, and welcome!

That is a BEEB alright.

However, we trade BEEBs as REVERSAL SIGNALS, and that means they have to be at SWING HIGH (at the top of a swing, not within other candles).

When not traded from swing high, you will find you are trading straight into support [see chart below]

From the Thread Guide, a couple of helpful posts:

–> http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action-40.html#post329095
–> http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action-100.html#post342057
–> http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action-35.html#post327697
–> http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action-61.html#post333457

Cheers

.

[darthfrancis]

Good on you for not taking a full loss when you didn’t have to!

Cheers!

.

Thanks, wish I was more conservative with my tp, but hey you live and learn and this lesson didn’t cost me anything.

Darth

[rsharpe75]

@dudest

Hallo rsharpe!, and welcome!

That is a BEEB alright.

However, we trade BEEBs as REVERSAL SIGNALS, and that means they have to be at SWING HIGH (at the top of a swing, not within other candles).

When not traded from swing high, you will find you are trading straight into support [see chart below]

From the Thread Guide, a couple of helpful posts:

Cheers

.

Hi Dudest,

Thanks for the explanation and the relevant links. I’ll go back to my charts and look at them again and will amend my trade plan.

Once again, thank you; your help is greatly appreciated.

[darthfrancis]

@dudest

From my point of view:

2BR: Yes

Pros: formed at a great level ( extreme bottom of range; great place for longs )

Cons: it is not commanding

Cheers

.

Thanks for your input, always appricated bro.

Darth

[rsharpe75]

Don’t have my usual charts at hand right now so I can post it but looks to be a very decent pinbar forming (H8) on the GBPJPY. Resistance from a good area off the daily chart and it looks to be from a swing high.

Can anyone confirm that this is a “possible” setup and also that it is the kind of setup we should be taking?

Regards

[darthfrancis]

GEEZZZZZZZZZZZZZ !!!

Just been checking out the thread guide and that is some extensive work… You guys ( Dudest, Jonathan and every trader who’s has been humble enough to ask for help) have made the NO1 PA guide on the net ( most likely )

Welldone boys

Darth.

[rcreddyvanga]

GBP/USD Buy, Eventhough Candle is not BUEB, candle looks very strong at key support level.

Chart GBPUSD, D1, 2013.11.14 14:46 UTC, Multibank FX International, MetaTrader 4, Demo - MetaTrader Trading Platform Screenshots

[mselva]

Not a BUEB but 2BR
Good luck with that.
Cheers,

[rsharpe75]

Hi again!

So, I went back to my charts looking at past trades that were possible setups. I came across one that I feel may have shown me what you guys mean by “don’t trade into traffic”. Please have a look at the chart (hopefully it can be opened to a larger version).

Regards

[rsharpe75]

Hopefully people aren’t bored of me yet. Here is my attempt at trade anticipation. Am I going about this the right way? This is the AUDCAD …