Forex Price Action

[Kasravi]

@HumblePai

Really confused with this trend pattern. Will you consider this as a down trend or an up trend?
It looks like a longer term down trend and coming back to retrace but also look like a uptrend :17:

Sorry for my english

Hi,

Usd/SGD daily market structure

As visible on the chart above, prev highs have been breached suggesting an uptrend. However recent highs have been
rejected with a pinbar that could yield a reversal.

Hope that helps.

Cheers

[HumblePai]

@Kasravi

Hi,

Usd/SGD daily market structure

As visible on the chart above, prev highs have been breached suggesting an uptrend. However recent highs have been
rejected with a pinbar that could yield a reversal.

Hope that helps.

Cheers

thank you! it helped me understanding it a lot :7:

[dudest]

@MarcusMav

Hi All,

Wanted to get your thoughts on USDCAD Daily. I took the trade on the BUEB on the daily chart and it has since come awfully close to my SL. From earlier post it seems quite a few have taken the long trade off the 4 hour chart.

Unfortunately i read Jonathan’s post on the USDCAD trade after my trade was triggered and seems the main issue with the daily BUEB is that it doesn’t have much room to trade into?

Has any one else taken the BUEB on USDCAD daily as i would like to find out how they are managing this trade?

I am a part time newbie and my game plan was to first concentrate on daily charts but i am wondering if 4 hr offer better opportunities?

Thoughts appreciated.

Thanks
Marcus

Hallo Marcus,

Though the BUEB was great, I didn’t take it coz the distance between entry and what would have been my FTA (upper marked line) was 22pips [ very small for a D1 trade as per my rules. Note to reader: define in your rules minimum FTA that a trade should satisfy before you take the trade. Go through past trades and decide for yourself what is comfortable for you ].

I haven’t seen the article by Mr J but I agree (as per your reference) that room to move into was an issue.

The trade is still in play though (with SL below BUEB). Price may as well test the zone and it may as well hold as second time.

Cheers

.

[dudest]

Help!

If pullback did not hit / close to resistance or support but reversal patterns is produced, should we enter the trade or let it go? and how do we determine swing high or low then?

Thanks

Hey Ryan!

Throw up a chart! ( or a link to one ) and we can discuss off that

Cheers

[dudest]

Totally rich? No
Trading for a living? Maybe

One of the most important things in a Trading Plan is “What are your goals?” Is 500$/month enough for you?, Maybe your goal is 3,000$/month, or 10,000$ /year, or you just trade to eventually buy some things like clothes or watches… After that, you can make a good risk/reward money management plan that helps you to achieve your goals.

I personally think that “being rich” is not a realistic goal, specially when we are very amateur traders.

I agree; monetary goals tend to skew our psychology (and can mess with our trading, e.g by leading us to over-trade).

Here’s a great article on why setting of non-monetary goals is much more helpful: Points not Dollars, and Non-Monetary Trading Goals

Cheers

[adamjn]

Hey guys,

Looking at the JPY pairs, I see what could be a few setups, the best looking one imo is EJ H6.

Anyone have any opinions on it?

My analysis.

On current trend line
With trend - Strong uptrend
Over 1:1 Risk:Reward - 1st TP 142.740
Solid 2 bar reversal
Higher highs being created, and higher lows

Opinions and criticism very welcome

Cheers,
Adam

[dudest]

@HumblePai

Really confused with this trend pattern. Will you consider this as a down trend or an up trend?
It looks like a longer term down trend and coming back to retrace but also look like a uptrend :17:

Sorry for my english

Johnathon teaches that pairs tend to RANGE more they TREND.

Currently for USDSGD D1: resistance is holding and support is holding => the pair is in a range, with price currently at the upper boundary. A false-break pin was formed on Friday last week.

NB: prior to entering the range, price was in an up-swing ( higher highs, higher lows + broke resistance that’s now holding as support ). So it won’t be a surprise to see price continue in the direction it was in earlier (after the range).

Cheers

.

[dudest]

@adamjn

Hey guys,

Looking at the JPY pairs, I see what could be a few setups, the best looking one imo is EJ H6.

Anyone have any opinions on it?

My analysis.

On current trend line
With trend - Strong uptrend
Over 1:1 Risk:Reward - 1st TP 142.740
Solid 2 bar reversal
Higher highs being created, and higher lows

Opinions and criticism very welcome

Cheers,
Adam

Hey Adam,

My thoughts:

Pros:

1. Could close as solid 2BR/BUEB at solid pullback area

Cons:

1. Where is your FTA? Looks pretty close to me…
2. Trendline ??
3. Arbitrary 1:1 risk:reward ??
4. MAs + volume indis ??

.

[adamjn]

Hey, thanks for your thoughts

Yes, a trendline, as this is an uptrend and I can match points, I drew a trendline…

And yes, one MA and yes, risk:reward, that is how I manage my money, not using a % rule, sorry if you don’t like it And yes, volume also, not really an indi as such, more for confirmation

Cheers,
Adam

Hey Adam,

My thoughts:

Pros:

1. Could close as solid 2BR/BUEB at solid pullback area

Cons:

1. Where is your FTA? Looks pretty close to me…
2. Trendline ??
3. Arbitrary 1:1 risk:reward ??
4. MAs + volume indis ??

.

[Forex_School_Online]

I agree; monetary goals tend to skew our psychology (and can mess with our trading, e.g by leading us to over-trade).

Here’s a great article on why setting of non-monetary goals is much more helpful: Points not Dollars, and Non-Monetary Trading Goals

Cheers

That’s super dangerous either way and if you think about it, if you are aiming for points or money you are still setting yourself up to over trade.

With both goals instead of just taking what the market gives and taking the trades as they come, your are forcing the market and going into the market with a mindset set of what you have to get. This is very dangerous and does not lead to being in the zone.

Our trading goals need to be around our trading processes and getting all our trading processes right and following our plan and staying disciplined etc Not forcing the market and what may not be there.

Johnathon

[pipwhip]

Hey, thanks for your thoughts

Yes, a trendline, as this is an uptrend and I can match points, I drew a trendline…

And yes, one MA and yes, risk:reward, that is how I manage my money, not using a % rule, sorry if you don’t like it And yes, volume also, not really an indi as such, more for confirmation

Cheers,
Adam

You’re going to be in a world of pain when johnathan read this!!!

[dudest]

…

[B]Our trading goals need to be around our trading processes and getting all our trading processes right and following our plan[/B] and staying disciplined etc Not forcing the market and what may not be there.

Johnathon

Agree 100% sensei. That’s what I’s hoping to highlight.

Cheers

[dudest]

Some of the indices are forming nice BUEBs on the Daily!

++ DAX30
++ DJ30
++ FT100
++ S&P

8+ hours to go; watching this space.

Cheers

[Panupat]

Hey everyone. Just wanted to report my monthly result from the last 2 months

October was tough, I had a rough time at work which really affect my decision making. So I took a little break after the 2 full loss that I’m going post. Luckily I still end the month with a small profit.

This one went straight to stoploss. Duh.

Bullish pin bar. The price eventually went bull, but it hit my stoploss first.

Big obvious pingulfing bar.

[Panupat]

November was a great month. 0 loss. :59: What more can I ask for?

Nice big obvious signals. 3 profis, 1 break even, plus 1 more profit advanced trade I didn’t post.

Only had 2 trades this month (Dec). 1 was break even, 1 still hanging around -10 -20 pips.

[eignerdauL]

Some of the indices are forming nice BUEBs on the Daily!

++ DAX30
++ DJ30
++ FT100
++ S&P

8+ hours to go; watching this space.

Cheers

Hey Dudest!

Which Charts / Broker do you use for these indices?

Best regards

[Kasravi]

Hey Dudest!

Which Charts / Broker do you use for these indices?

Best regards

Hi Eignerdaul,

Haven’t seen you posting in ages.

Hope trading goes well on your side.

Cheers

[eignerdauL]

Hi Kasravi!

Yeah, I´m really busy since the end of October due to University etc. and so I´m more a dormant partner at the Moment.
Trading is going well . I´m still riding the AUD/CAD weekly trade all the way down. (+ 330 pips at the Moment)

And what about you?
Everything ok?

Best regards

[Kasravi]

Hi Kasravi!

Yeah, I´m really busy since the end of October due to University etc. and so I´m more a dormant partner at the Moment.
Trading is going well . I´m still riding the AUD/CAD weekly trade all the way down. (+ 330 pips at the Moment)

And what about you?
Everything ok?

Best regards

That’s great.
I’m fine too, can’t complain.

Cheers

[Kasravi]

Hi Kasravi!

Yeah, I´m really busy since the end of October due to University etc. and so I´m more a dormant partner at the Moment.
Trading is going well . I´m still riding the AUD/CAD weekly trade all the way down. (+ 330 pips at the Moment)

And what about you?
Everything ok?

Best regards

Are your still on that October weekly Beeb?
That was a neat play mate. How are you going to play it further? I’m curious to know.

Cheers