Forex Price Action

[Keel]

do you guys add to your winning positions? or just protect it once it moves in your direction?

[Panupat]

We don’t do re-entering as far as I know.

[dudest]

@jon487

Price looks like it could be finding support on that chart down at 141.00. Would you consider a long down there?

141.00 is a solid place for range longs right now IMHO

I’m long off the H12 pinbar from 2 days ago

Price is stalling, could go either way (accumulation probably going on)

.

[dudest]

do you guys add to your winning positions? or just protect it once it moves in your direction?

In the basic strat, no.

But can be added as a personal touch [ e.g stack (add additional positions) on retraces to minor S/Rs or Fib levels ], esp in a trending pair.

[ I personally prefer to just protect and trail the original ]

Cheers

[Chromeo12]

How do people feel about trading signals from both the Daily and H4 concurrently, for example the following scenario on which I’ve placed a trade:

USDCHF bearish pin bar forms on the daily.
2 bearish pin bars also on the 4H
Missed the pin-bar on the 4H but placed a trade when price retraced to where my entry would have been had I not missed it.

I’m essentially using a retracement to an entry on a confirmed signal on the H4 to get in early on an unconfirmed trade on the Daily.

Can I have some thoughts on this?

[Panupat]

Just my 2c - Looking for levels in daily and trade of H4 signal is totally OK. But if you miss the trade and try to do a late entry, I don’t think that’s a good practice - it’s training you to chase a trade. Something Mr. Fox taught us against. If you miss the H4, the daily set up is still valid and you should look to play that instead.

[Chromeo12]

So, to summarise: trying to get a head-start on an unconfirmed signal on the D1 by using a retracement to an entry on the H4 a few bars earlier is a bad idea?

[Yumei]

the pinbar shows clearly on 5-DAY New-York Close Charts. what is your chart?

@juancliment

Yes, all succesful short trades go down, so by “waiting for” it you will avoid some unsuccesful

Just for you to know, I don’t have that daily Pinbar in my chart.

[knotthead]

Hey Knotthead congratz on your trading! maybe you can tell us more about your trades? wich trades you took, what risk you took, what was your R:R… etc remember all that matters is what your R:R is and your % of winning trades, we can have 200 winning trades and zero losers but if we are only making a 0.2% of account balance per trade and risking 3% on our SL then is not so good. make sense?

hope to hear something back from you man and best wishes!!!

Thanks Cheva! Yeah tomorrow I will grab a transaction history and share. I started around $245 in my account and now have just over $300. Its been two weeks or so. Im trying to nail down the system before I throw more money at it. Two things I know im doing incorrectly… One is my charting software isnt ny close. I took a couple of trades using a sunday chart too. The other is my lot size. I think im riskimg around 4% per trade. I will toss more details up tomorrow for you. Cheers.

[Papagoy]

I took this AUDCAD two bar reversal trade

[Panupat]

So, to summarise: trying to get a head-start on an unconfirmed signal on the D1 by using a retracement to an entry on the H4 a few bars earlier is a bad idea?

No no no. Sorry if I confuse you.

Summary

• Mark level on daily, look for signal lower time frame = good.
• Miss a trade, try to catch up = bad

[abc2005]

@Papagoy

I took this AUDCAD two bar reversal trade

It’s a really tiny 2bar , We’re looking for big and obvious candles to trade with

[justise]

2BR in a nice area…traffic about 50 pips away

[Kasravi]

@justise

2BR in a nice area…traffic about 50 pips away

Hey Justise,

That’s some great signal in tune with the momentum. However I’ve got my level at 0.8050, and unfortunately price closed
above that. Otherwise I would have been all over it.

Thanks for sharing though.

Cheers

[Kasravi]

How do people feel about trading signals from both the Daily and H4 concurrently, for example the following scenario on which I’ve placed a trade:

USDCHF bearish pin bar forms on the daily.
2 bearish pin bars also on the 4H
Missed the pin-bar on the 4H but placed a trade when price retraced to where my entry would have been had I not missed it.

I’m essentially using a retracement to an entry on a confirmed signal on the H4 to get in early on an unconfirmed trade on the Daily.

Can I have some thoughts on this?

Hi Chromeo,

That’s a great question.

You don’t want a late entry on the retraced 4h pinbar in anticipation that it will trigger off the daily pinbar, in general.
If you are a conservative trader you’d wait for the daily to trigger. However if you trade aggressively, considering a
retrace entry is best played once price moved back into the pinbar.

As it is now, anyone who took the 4h pinbar has already pocketed some profits. In other words the Pa signal done it’s magic
for those who took it and for them it’s a no stress trade.

Hope that helps.

cheers

[tonyro44]

Kasravi gave you a clear and great answer, not to many people give such a answer right to the point.

Hi Chromeo,

That’s a great question.

You don’t want a late entry on the retraced 4h pinbar in anticipation that it will trigger off the daily pinbar, in general.
If you are a conservative trader you’d wait for the daily to trigger. However if you trade aggressively, considering a
retrace entry is best played once price moved back into the pinbar.

As it is now, anyone who took the 4h pinbar has already pocketed some profits. In other words the Pa signal done it’s magic
for those who took it and for them it’s a no stress trade.

Hope that helps.

cheers

[AnotherPip]

Hi, I post a similar thread and then I see this one. Won’t reinvent the wheel. Very Interesting!

[cheva282]

@justise

2BR in a nice area…traffic about 50 pips away

Im on this one as well justise, whats your target?

[AnotherPip]

2BR on h4 EURAUD??

[sensiblekiller]

anyone watching AUD/USD H8 Pin Bar

cant post charts