Forex Price Action

There is a lot of chop for price to trade through.


Hi everyone.

My first month of live trading is ending in profit :slight_smile:

However the first few days when I went live I got very excited and very greedy. In my urge to make pips I entered a few trades not following our method and they all ended up taking pips away from me.

Here are my losing trades. I hope they would help remind everyone not to make my same mistake.

EURJPY Daily. I ignored the bear candle, tried to enter long after the pin bar to get a ride up with the trend. Entered mid pin for better RR instead of waiting for the break up higher.


GBPJPY Daily. I chased trade. I was already 2 candles late for the BEEB yet I entered it anyway. Not to mention counter trend.


USDCHF. Again a counter trend BEEB and I tried to enter at random retrace just to get a better RR.

GBPCHF. Exactly the same thing as above on opoosite direction.

Daily charts of the pairs I watch have not presented any trades for me to take in almost two weeks. Currently watching AUD/USD, which looks promising for an opportunity to short with the trend should the resistance at .8853 hold. We will find out in the next candle or so whether or not this level will hold:


Thank you for the advice and I have a question: Is it possible for a trend to have more than one correction? I mean After the breakout the trend has more than one retest (This what we take advantage of) and several BEEB s form at swing high or BUEB s form at swing low (ranging for long time).

A very nice Pin bar at Swing high on 12H AUDJPY. Going down from its first correction.


@panupat good to see your traders. even I am facing these kind of situations. Anyhow thanks for sharing.

@Panupat Good Luck buddy , Hope to make lots of $$$$

Without being 100% certain of what you mean the tentative answer is yes, price can retest a certain level again and be valid. these patterns are sometimes known as double or triple tops depending on how many times it touches a certain level.

Aud/usd 12h seem to be making a pinbar. we’ve to wait for a 12h close
What do you guys think ?

Thanks


good set ups on the yen pairs

i will probably trade usdjpy after more analysis

That Pin is not really occurring at a swing high which is where we want to be trading from. It would also ideally have a wick which would push through a proven zone and then snap back.


GBPJPY TP1 hit, moved SL to BE…free trade for now

Can you post how you are managing your trade? Interested because I took EUR/JPY.

i took the first profit at the blue dot…then moved SL to BE


so if I understand correctly your TP1 is where RR 1:1?

usdjpy trade just hit full profit…gbgjpy almost as well


first TP1 was 0.5:1…stop loss was bigger than the FTA but it was a high probability trade so i took it

EUR/JPY D1 does have a decent looking BEEB @ swing high, but not taking it because of the choppy 139 area. :28:

my account summary so far after i started following johns methods

13 winning trades
3 losses

PA work people

Nice trade Justise!

Chinese new year coming up tomorrow in my country, today’s been a crazy tiring day. Off to bad without any trades once again :slight_smile: Good luck everyone!