Forex Price Action

Keep in mined that this is the first week of the year. There are people that are still in vacation and others like me are waiting until next week to take on trades.

A very exciting new year. Those who caught the bearish signals this past week would have made a lot of pips already.

Hey justise!

Tried to email but your post count also means email to you is not enabled :confused:

You’re at 12, 8 more to go. Make 8 separate posts on 8 charts you’re watching for this coming week, and you’ll be good to go with mail/PM :)!

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Me and you buddy; was watching the same area for longs.

Now looking out for shorts at same level in the coming days ( esp intra-day TFs )

Cheers


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'Twas a great level ( BRN 0.9000 ) but didn’t see any PA

Bummer for the stop-out.

EDIT: just realized you didn’t get entered!, hooray :slight_smile:


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Hallo HP,

Nice false-breaks ( the both of them ) but trading straight into traffic (which brought the FTA much closer).

EURCAD and CADCHF are also very negatively correlated (like mirror images of each other), hope you didn’t take both…

Cheers

TP hit!, good stuff

PS: mine showed up as a BUEB rather than a pin! Which charts are you using? (curious)

Cheers

This might be a good one to begin the year with :slight_smile:

XAUUSD W1 counter-trend BUEB off key 1200.0 zone.

I have my FTA at almost 100pips from entry (red), (black) are potential targets on the way up.


PS:

Incase someone is wondering about how large SLs are handled, the answer is to position size

We all know weekly trades can last for weeks, this could be a slow grind

Cheers

Hi Dudest,

That consider a A+ Trade? I thought it was a no man land?



Hey guys!

Gonna take this one on Monday!

Jack

Why is the spread so high?

many asked me that before lol. Its actually 0.9 Pips :slight_smile:

Why need to watch closely? You can just set buy stop order after the break of the PB.

i want to thank you for bringing this to my attention, i have downloaded a demo account from LITEFOREX and my charts look different

does that mean liteforex charts use newyork closing and my old ones were not? if this is the case im switching to liteforex…this is the chart i see now


Hey Tony,

You’re right, it was not an A+ trade. The S/R was an intra-day from H4 which can be very tricky.

But the management (TP target) was a great exit, and money was made, so hoorayed for that :slight_smile:

PS: my S/Rs are exactly like yours!

Cheers

Hey all and hears to a new year and new trades.

So I’m back after reviewing 2013 I see where I’ve gone wrong and now I’ve learnt the error of my ways.

Back to business, there a few decent trades to talk about for next week.


CHFJPY D1
Looking for strong PA to go long.


GBPUSD D1
Looking for strong PA to go long.


SP500
Looking for strong PA to go long.

There’s more possible trades but just a few to look at.

Anyway good to be back team now lets make some money.

Darth

You’re welcome justise!

I know LiteForex MT5 is 5-day NY-close, not sure about the MT4.

You can compare the one you’ve downloaded with another from the list on post #8: http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action.html#post309464

Cheers!

GBPUSD
looking for buy chances


can you see the the few charts i will post now? they all from the new downloaded liteforex…is it the same as yours?

Hi dudest,

What kind of facts on price (according to this thread) should set our bias (short/long) on a particular pair?
Below 2 examples of yours, kinda similar I would say to some extent apart from what price has done at lower level.

  1. Euro
    You said - looking for shorts - I guess as it has broken the 1.365 level & the recent momentum (opposite to the overall 1D trend up) has been down. Am I correct? If EURUSD had produced a BUEB, you’d be entering market long, right?

  2. Gold
    Kinda similar situation - price within previously marked support + resistance levels, but this time instead of (like EUR) going through the level, and you waiting for retrace and a PA to go short, it gave a weekly signal to go long. But if the price broke it down, you’d be waiting for retrace and going short??

Conclusion…
I think I have been looking at loo large chunks of the market in order to set my bias, we are swing traders through this thread, not trend traders, so determining my bias for longs vs shorts on below amount of data (my EURUSD chart below) is incorrect for this method, isn’t it?

Regards,
Fil.