I found thats really funny.
- Counter trend don’t take
- trend with retrace don’t take?
Then what else we can take?
I found thats really funny.
Then what else we can take?
you can take whatevers you want the idea is to take the best set ups are you consistently making profits taking option 1) and 2)?? if you are congratulations you might be 1 in thousands on traders!
Yes the traffic was there and I considered it. But this Pinbar was so perfect that I was certain that this setup could bear at least 20 pips TP… and It did.
I think you should put buy stop order instead of buy in the middle of the body.
After i see his chart I realize what u r talking about. You are asking him not to take middle of the pin right? He should put stop order instead of buy in the middle of the pin. Am I right?
Looks like you lucked out trading during important AUD news. Don’t get too confident now or it’ll encourage bad habits
Pending order got triggered, now it’s sitting at +40 pips
GBPCAD daily. Only 1 target around 1.85000 near the swing high.
Correct tony
…(GASP!) And here I am waiting for shorts intra-day at the midway point ( around 1.8250 ).
Have mercy Panupat!
Johnathon’s goal in starting this thread was ( and still is ) to teach a price action method founded on trading only the absolute best ( i.e, A+ ) setups.
Of course, in the process of learning and developing, alot of non-A+ setups will be posted, which is fine & very normal. And with practice, the trader will develop to trading A+ setups ( and this will of course be reflected in their posts ).
It is not envisaged however that non-A+ setups will be posted & discussed openly in the full knowledge that they are not A+ (!)
[ Kinda beats the purpose of the thread, right? It’s one thing posting a non-A+ setup when learning and trying to work one’s way out; it’s quite another posting the setup knowing full well it’s not what Johnathon advocates for; it just leads to confusion and non-consistency in the thread ]
Cheers
Is it just me or has the BP editor changed?
I’m suddenly feeling lost when trying to post images… ( it’s also refusing to add images in-line )
Weird…
Hence my question, I understand completely why, thanks for the clarification and I think it will make this thread way more important if we discuss A+ setups.
Hi dudest, as I’m new to the forum i’m a bit confused about setups…especially when you or others say not to trade retracements, not countertrend etc. and a bit confused about the 1-2-3 pattern aswell.
i read the first 70 pages and some posts here and there…i need to read more but i’d appreciate if u could highlight to me some articles or posts where i can get some clarification…maybe there are set of rules to follow…sorry for bothering you…maybe when u’ve got some spare time u can help me.
Cheers.
Each of us have developed our own unique twists to Johno’s method (e.g touch trading at key levels), and retracement entries can be valid for some specific scenarios (e.g some HUGE engulfing bars). But some things are ‘non-negotiable’, and one of them is: absolutely no retracement entries on pinbars (!). Why? The edge is lost
Hey ddi,
This really shouldn’t be happening, the spec should be clear, that’s been the goal all along
For your sake, lemme try to break it down
Setups we trade:
–> The Pinbar
–> The Engulfing Bar
–> The Two-Bar Reversal
A+ setup:
–> At a key horizontal level (KHL)
–> At the correct swing pint ( swing high for shorts / swing low for longs )
–> Large and obvious; sticking out from the rest of the candles
–> Preferably with the trend.
Areas we trade from:
–> In a trend / swing: we look for PA after retracements (pullbacks) in the trend
–> In a range: we look for PA at the extreme boundaries of the range.
Notes:
a) Don’t be confused by “retracements” and “retracement entries”
–> Retracements = pullbacks ==> GOOD!
–> Retracement entries = entering a setup trade when price moves in the opposite direction of the trade, and before the setup high/low has been broken in the direction that the setup is pointing to. This is a twist, and only works in VERY SPECIFIC scenarios, not recommended, esp when you’re learning the method
b) Counter-trend setups can also be A+, but only after you’ve mastered with-trend setups
–> Nobody said NOT to trade CT setups; only that you have to know what you’re doing, and it has to be defined in your trading plan.
–> If you can’t trade with-trend setups profitably, you are kidding yourself that you’ll trade CT setups well; kinda like trying to run when learning to walk.
–> Properly traded however, they provide very profitable opportunities ( e.g the GBPAUD CT short pinbar from two weeks back )
c) The 1-2-3 is simply trading PA following a pullback (retracement) in a trend/swing [ what I was talking about earlier ]
They are one and the same thing. Is has been fully covered in the links on Page 1.
==
Lemme know if that clears it up for you. Every detail is also covered thoroughly by the reference links on Page #1
Cheers
Thanks dudest…this is a super clear answer!! i was confusing retracements with retracement entries!! as i’m not an english native speaker sometimes don’t understand properly what is being said! thank you very much. i’ll do my very best to stick to the plan.
Safe trading
Speaking about retracement I’m confused also, according to this thread rules is it OK to short green candle at given moment as it already break the low of pin bar, but went up and hasn’t closed yet? Or it is not even called retracement?
is that 5 day NY close as it looks really different to mine.
Darth
To me the last leg could be the beginning of a new uptrend so we should wait for pull back with formation of higher low and enter when we get PA for 3rd leg of 1-2-3 pattern…but wait for better answers
that’s from 2011 and a little bit tweaked for question purposes