Forex Price Action

you can do it with EA’s but the way its normally done is to just split the order up. say you want to trade a total of 1 lot and have 2 targets you would place two 0.5 lot trades at the same price but with different targets

HI, what do you guys think of the 2BR on GBP/AUD D1 chart? The candle has not closed yet.
Sry can’t post an screen right now

i dont do this often, but im going long with two orders at the same time…usdjpy and eurjpy

Whats your SL and Target justise?

When you’re done, please provide us with charts how you did it. Thank you in advance.

Remember justise said ["never take a trade before the candle close.QUOTE=sarbualex;588867]HI, what do you guys think of the 2BR on GBP/AUD D1 chart? The candle has not closed yet.
Sry can’t post an screen right now[/QUOTE]

Could someone explain to me the following please:

If a pin-bar’s body bounces off support/resistance but a large tail passes through it, is it valid?

If so is it more or less valid than a pin-bar whose tail rebounds off support / resistance?

Likewise for a 2BR. There’s currently a 2BR forming on the GBP/AUD 1D which when combined into a pin-bar, would have a body that would rebound perfectly off support but the tail end’s somewhere in-between two areas of support.

It sounds like you have a fair idea of how it works. However on the H4 chart you say if it passes the minor support line you ‘enter again.’

No you only want to be entering your whole position on the break of the 2 bar. Once it hits the minor support level you might want to move to break even or even take a small portion of profit off the table.

The daily didn’t form a valid Pin so that option was off the table. Although the H12 did fire off a valid PB signal which you could have got in on if you’d missed the initial 2 bar on the H4.

Hope this helps!

but which one to go for :wink:

Darth

Pound/Yen.

Hi! Yea it most definitely is valid imo. I’d go so far as to say it’s better than a pinbar/2BR that just does a touch and go. PA that pierces through S/R levels also tend to give your trades more room to move so all in all it’s definitely a good thing :slight_smile:

Seen that setup also. There are quite a few setups today, GJ, GBPAUD and AUDUSD on the daily and H8 for USDCHF bullish engulfing, thinking about which to take.

I’ve spread my risk 50/50 across 2 trades on GBP/AUD and EUR/JPY both on D1. Entry order has just been hit on GBP/AUD and waiting on the other.

Both quite big signals though so could have positions open 'til the end of the week should the trades go my way. There’s some resistance above both (mainly BRN of 145.00 on the EUR/JPY) but I’m trading on the basis that the signals were big and so, if they can punch through it there’s potential to make over 2RR.

Trade update.
Price reached TP and trade has been closed.
More details on initial post. I did not even manage to move to BE as have been at work all day long.

Fil.


Hoping for some PA on below and few more pairs.

Fil.




It closed as a good looking PB. I’m going for this.:smiley:

Go for it …

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After trying indicator after indicator, tried out few EA that was supposed to make me tons of money while a was sleeping and so on I finally came to the conclusion that I needed to simplify my trading I if would ever gonna succeed in Forex.
So about three months ago I decided to take a close look at naked trading and very soon I found this thread and I’ve learned more here in the past three week than in the past 3 years before that.
I’m looking forward to reading this thread from now on and hopefully I can be a valuable member of this community that is making this thread so great combined with your excellent mentoring.

svig

a lots of 2BR… lets see :slight_smile:

I like the 2BR forming on GBP pairs a lot. Really huge, really obvious. They’re too huge for my risk limit tho :frowning: