Forex Price Action

darthfrancis · November 26, 2013, 6:01am

or pin bar depends on your outlook, personally the graph kinda looks like a double top and you candle is smack bang in the neckline. Also it could be contested as a counter trend trade as the most recent trend has been down.

I’m definietly no expert but just my 2 pips.

Hope it works out for you.

Darth

Yumei · November 26, 2013, 6:01am

Hi Birdcat,
i dont have this pair on my broker, but base on the chart you posted, your trade face directly to resitance, also have a lots of trafic at the left. The pin bar looks nice, but not enough to make A+ setup for me.

brettosm8 · November 26, 2013, 8:11am

AUDUSD H4 BEEB with open on break of bar low. Is this about an A level setup? I thought maybe not A+ as BEEB could be a bit bigger and maybe closer to resistance?

Thanks.
Safe trading,
Brett

MarcusMav · November 27, 2013, 7:35am

[QUOTE=“rcreddyvanga;571004”]GBP/USD now its time for sell, looking for BEEB at the key level. Chart GBPUSD, D1, 2013.11.25 13:27 UTC, Multibank FX International, MetaTrader 4, Demo - MetaTrader Trading Platform Screenshots GBP/CHF, perfect BEEB, waiting to enter the trade below BEEB. Chart GBPCHF, D1, 2013.11.25 13:28 UTC, Multibank FX International, MetaTrader 4, Demo - MetaTrader Trading Platform Screenshots[/QUOTE]

Hi

Did you take the gbp/usd trade? My trade got triggered but over last few hours on the back of good data Gbp/usd has just gone straight up.

Kasravi · November 27, 2013, 8:30am

Forex_School_Online:

Heys guys,

market is open for another week! :35: Let’s make some money!

The Forex market is quite good at the moment. Just a few months ago we could not say that. Price was very slow and was trading sideways. This can be very boring, but at the moment, most pairs are moving quite solidly even in their ranges and as long as they move they provide chances to make trades.

The first pair is the GBPUSD. Clearly in a range or consolidation on the daily chart at the moment. The reason I bring this pair up is not only am I watching this closely is because this is the type of market that can and will suck a lot of traders in by making trades in the middle of the consolidation. We had the clear up-trend in play and then price moves into consolidation. We see this pattern on all charts time and time again. Price makes a move and then pauses, price then continues. What we don’t want to get caught out is making trades in the middle of this range or consolidation. We either want to make a short from the high or a long from the low or we want to wait for the break in either direction and trade that direction, but not in the middle.

There are plenty of charts that looks similar to this, but not exactly so traders can go through as use this same method. AUDNZD daily is similar, GBPAUD daily is similar etc etc

The time when you avoid a range and it’s better to not make a trade is when the levels are not clear and price is not moving in either direction for sustained periods. A perfect example at the moment is the USDJPY daily chart. Trading that chart at the moment would be a waste of time because it would be very risky for not much reward. The chart shows how price is not moving either higher or lower for long at all which makes it hard to make money and there are no real clear levels. This is when it is best to leave well along and flick to the next chart. It must be said that traders should be watching VERY closely to the USDJPY because it is getting very close to exploding. It has been winding up and winding up and the longer it goes on the bigger the explosion will be.

GBPUSD Daily Chart

USDJPY Daily Chart

Safe trading this week,

Johnathon

Hi,

I quoted Johnathon’s post. It was a great pre market analysis. And made vital points about
GBP/USD 's current state.

This and the small signal should have left you out to short at that point.

Hope that helps.

Cheers

darthfrancis · November 27, 2013, 9:05am

auzchf bottom of range on d1. watch closely for close of this day.

Darth

rcreddyvanga · November 27, 2013, 9:26am

@MarcusMav

No, I haven’t entered the GBP/USD trade, as the next candle not able to trade below the low of BEEB (1.6132).

Watt · November 27, 2013, 1:25pm

Good signal! Или нет?

monjorra · November 27, 2013, 2:20pm

GU rejected from Long TL … check weekly chart

Papagoy · November 27, 2013, 2:26pm

Two problems I have with this trade are
it is against trend
but bigger proble I have is that it runs straight into a good resistance level

MoneyTalks58 · November 27, 2013, 2:28pm

Is there any good setup today? I can’t analyze well after a rough day in work. My mind is out of this world today.

Watt · November 27, 2013, 2:55pm

Or maybe the underlying trend bearish?

Kasravi · November 27, 2013, 3:16pm

I know how that feels, I call it ‘‘low battery’’!
Time for entertainment…

Cheers

darthfrancis · November 27, 2013, 5:17pm

I’ve had the roughest month trading ever most trades have turned around on me which has compounded and reverting me into a real noob. I know the principles, know the signals and no the plan but every trade that has promise has uppercut me hard.

Any professional pointers?

Darth

mancamy · November 27, 2013, 5:46pm

hi Johnathon/All,

Am new to this thread - have been learning price action for a few months now and came across this thread which looks really cool, thanks Johnathon …looking forward to joining in the discussion and contributing - once I have worked my way through the thread guide articles…

[sorry for the dull/techy query as part of my first post here but I clicked on links in some of the posts on the thread guide to articles on Johnathon’s site and I am getting rich text versions of the webpages and no images showing…is anyone else experiencing this issue? would like to see the images - a picture is worth a thousand words and all that…

web page is coming out like this at the moment:

]

cheers,
Amy

Kasravi · November 27, 2013, 5:56pm

Hi,

Welcome to this thread.
Yeah having same issues , that problem seems to have started a few days ago.
Hopefully nothing prevalent.

Cheers

Yumei · November 27, 2013, 8:23pm

Hi Darth,

Just set trades follow your plan and let them run themselves and relax until your energy come back…maybe you are over trade so far.

bhops · November 27, 2013, 9:22pm

Trade less Darth. Trade less make more. Learn to sit on your hands and wit for that really really plum PA to come to you. Most traders make the mistake of going towards the market and trying to pick trades. Instead let the trades come to you.

I hope that makes sense, it is really a mindset.

wm247 · November 27, 2013, 9:27pm

Hi Amy!

Welcome to the Dark Si… err, different school of thought of Price Action! I’m active on both this thread and Krugman’s, so let’s help each other here and there. Krugman was once one of us, until he decided to rebel and start American Rev… err, leave and begin his own personal PA thread.

I’d say both method work within their limit, so you need to pick up the best of both worlds that fits your personal strategy.

Cheers!

darthfrancis · November 28, 2013, 3:51am

Yes you are right!!! I forgot that…DAMN. I need to go back to my Sith meditation room and get back in touch with the darkside. I guess I’ve been using the plan on any half descent setup instead of using the plan on the those A+.

They weren’t wrong when they said patience is a virtue.

Darth