Forex Price Action

ok i made a link where you guys can view the PDF without downloading…let me know if there are problems

FX.pdf - DocDroid

Any comments peeps?


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So… If I was looking at this pair, and I’m not, as it makes my head spin drawing easy S/R’s I’d consider my targets around 1.955/1.96 but I’m not interested in it, so pass + I don’t feel safe in CT setups. Good luck though! :slight_smile:

Fil.

Although 2.000 is a VBRN and chances are that it will stack the odds in his favour.

IMO, it is a A+ setup. It is with the current momentum and rejecting the VBRN which is respected so many times before.
If i enter this trade, my 1st TP will be 1.9760 and 2nd TP at 1.9680.

I might stay out. There are a couple similar candles rejecting the same 2.000 and it didn’t get far. Price went back to test the BRN really, really often and most times it made false breaks. If it repeats itself, it would very likely trigger my stoploss.


Your EB wasn’t valid. It didn’t entirely engulf the previous bar.

I agree. Always doing extra demo testing is a good thing and will sharpen your eyes and understanding what levels are good to play from. However playing these same trades in real time is very different with real money at stake and your emotions in play. This is where demo is limited.

i understand that we mark levels off the Daily chart and look for PA at those levels.

In an intraday chart (e.g. 4H), do we look for troubled areas based on those levels too? Or should we mark troubled areas based on the particular intraday TF (i.e. the area may not be a level marked from Daily)?

damn no one liked my PDF :frowning:

You can mark your own significant levels on the intra-day charts as we treat each time frame differently. However, with the said, the daily support/resistance areas tend to be much stronger than the intra-day ones.

That BEEB is in no man’s land and CT, dudest. Easy pass for me.

I concur. Trading live it’s like trading demo ‘in steroid’. The emotion is greatly amplified when real money is at stake.

i just finished 2003 with an amazing 83% winrate…which led me to the following

money management is much more important than learning PA…like many said when this becomes live trading my emotion will likely influence my trades (cut profit shorts and let losses run)…i have noticed many times the PA would come SO CLOSE to my SL but respect the S/R levels and then go to hit my TP…we just need to trust our skills and once we enter a trade we might as well close MT4

Found this quote in another thread.

Secret #8: If it’s not boring, you are [B][I]NOT[/I][/B] trading correctly.

Trading is a very lonely business for the most part.
People love to do things in groups.
Trading is extremely personal.
People love excitement and things that are interesting.
SOLID trading is exceptionally boring and lonely.

good quote…ya i guess i wont bother making another PDF XD

Hello friends,

I’ll share with you this setup on the GBPAUD on daily TF , we have here HS pattern at good structure point in weekly chart also engulfing candle which engulf last three days candle and the price rejected three time from the same price with this engulfing candle i think this means the bears willing to control the market ,so in my opinion if we see nice bearish price action here it will be good trade , i appreciate your reply


Hello friends,

I’ll share with you this setup on the AUDNZD on Weekly TF , we have here two PB pattern at good structure point in weekly chart the price rejected two time from the same price , also in the daily chart we have
D bottom pattern i think this means the Bulls willing to control the market ,so in my opinion if we see nice bullish price action on the daily chart it will be good trade , i appreciate your reply


Sorry to be a pain, but we keep things like head and shoulders out of this thread.

This is pure price action
1 - trend
2 - whether it is as key support/resistance level
3 - whether at swing high/low
4 - whether a valid PA signal has formed

that is all :slight_smile:

Yipee! FXCM now has NY close so I don’t have to juggle between two MT4 software :slight_smile:

I think here’s an example of NOT an A+ trade.

Solid pin bar
With the trend
NOT at a support or resistance level

If you take this, there is a chance that it may go in your favor, but we only pick the best here!