Sounds neat. I believe a bounce from this area is very likely. However taking first profits at FSA (first support area) is more sensible than taking profits arbitarily half way through. It’s a safer approach and would be inline with what we do here.
'Best
The downtrend had actually already finished and started moving into an uptrend by the time you entered at the pin.
Absolutely! What I mean is that, before your 2 bar reversal signal appeared, the swing high was already established. Price waited around for a second to decide what it wanted to do.
According to Johnathan:
Because 2 Bar Reversals are reversal signals, it is critical traders look for them at swing points.
These would be great examples of what Johno is talking about (I took these from his website):
If you have a system for counter-trend and range trading and it is consistently profitable for you, by all means do it! But what I’m saying is the 2 winning trades you had were both with the trend ;). It’s more about stacking odds in your favor, as well as reading the whole price action story, than simply seeing good PA and jumping in - and the trend is the best odd you can have on your side. Johnathan constantly stresses the importance of watching the price action story and cherry picking the best setup with the trend. He says we can
…catch some nice winning trades when we use patience and discipline to wait for pullbacks in the trend to nice areas, and then by hopping aboard the next wave and riding it for as long as possible.
This way, you can have higher probability of winners and maximize profits at the same time
I hope this clears up some confusion, and please forgive me if I have crossed any lines.
Happy trading!
Joey
I think the fta is on 0.8300 + RN .
my first TP is 10 pips above on 0.8310 and after that ST to BE .
Good luck
HI
the 2bar reversal you refer and the second example you post from mr jon is a false break 2bar .
as you can see, the swing high was already established and there is nothing wrong with it , I mean , when price is on swing high like eur/cad , we’re looking for price action to trade it . we can have it in 2 candles or 10 candles but when we get it , we’re gonna to trade it .
I think the FTA on eur/cad was very strong and very close around 1.5155 and a big stop , so the RR was not good at all because it needed about 120 pip ST and the fta is about 30 pip .
May I know what is your Entry level on GBP/CAD?
Trades I’m interested for this week :
NZD/USD D pinbar . I heard from a friend it’s not a pinbar and the wick is not 3x bigger than body , but in my broker roboforex , it’s a valid pinbar. the wick is 43 pip and the body is 13 pip , that’s more than 3x . Please check it out .
eur/cad D pinbar . It’s big and valid pinbar from swing high , The RR isn’t good , I’ve not decided what to do with it .
gbp/aud , Daily uptrend , breakout occur and I’m looking for a retrace to buy it .
usd/chf Daily downtrend . we’ve a big breakout candle , looking for a retrace to sell
what about you guys ?
1.8457
st on 1.8600
tp1 1.8400
[QUOTE=“abc2005;608845”] HI the 2bar reversal you refer and the second example you post from mr jon is a false break 2bar . as you can see, the swing high was already established and there is nothing wrong with it , I mean , when price is on swing high like eur/cad , we’re looking for price action to trade it . we can have it in 2 candles or 10 candles but when we get it , we’re gonna to trade it . I think the FTA on eur/cad was very strong and very close around 1.5155 and a big stop , so the RR was not good at all because it needed about 120 pip ST and the fta is about 30 pip .[/QUOTE]
Okay, now you are just splitting hairs. What I’m stressing at is the importance of picking only the very best setups, not just any old thing that comes around. And if the previous candles don’t mean anything to you then you might want to reevaluate whether you are trading Price Action or price action signals. All of Johnathan’s examples of the best 2 Bars all form the swing high, not drifting and appearing days/weeks later, meaning those are the only 2 Bar signals I am looking for. If you choose to play mediocre signals, be ready for losses.
The Best to You
Joey
buddy I’m not new here.
I never said you shouldn’t trade from swing high/low . the eur/cad trade was from swing high (daily swing high) , it made a big 2bar reversal from swing high and it’s valid .
switch to daily TF , the TF you should place your SR levels and kill zones . it’s a very very important level and an obvious swing high .
I didn’t take it not because the 2bar was invalid , because my other rules didn’t let me .
Good luck
The EURCAD trade in question is a countertrend trade so imo it is ok to see price form a swing high first so we know price is respecting that level before we jump in.
Of course, trading countertrend is riskier and requires a tighter trade management. It all boils down to one’s risk appetite and experience whether they are ready to take such a trade.
my 2 cents 
I happened to agree with AH Q because i too like to take on counter trends.
[QUOTE=“Ah Q;608856”] Of course, trading countertrend is riskier and requires a tighter trade management. It all boils down to one’s risk appetite and experience whether they are ready to take such a trade. my 2 cents :)[/QUOTE]
Agreed
I’m not saying don’t take counter trend or range trades, I was just providing my perspective on fjanos’ trades.
Hello there… does anybody knows if i can set NY close charts on oanda?
My week starts Sunday at 5 pm ET, i wonder if i can change the this time it would be ok so i can see the NY charts as everybody does. THANKS!
[QUOTE=“luchozappal;608965”]Hello there… does anybody knows if i can set NY close charts on oanda? My week starts Sunday at 5 pm ET, i wonder if i can change the this time it would be ok so i can see the NY charts as everybody does. THANKS![/QUOTE]
Hey luchozappal!
Every broker has their own set close times so unfortunately it’s not possible to change them. I recommend opening a demo account with FXDD (they have NY close charts) to watch and mark your levels and opening an account with Oanda (or whatever broker you choose) to place your live trades.
[QUOTE=“luchozappal;608965”]Hello there… does anybody knows if i can set NY close charts on oanda? My week starts Sunday at 5 pm ET, i wonder if i can change the this time it would be ok so i can see the NY charts as everybody does. THANKS![/QUOTE]
Hey luchozappal!
Each broker has their own set close times so unfortunately they can’t be changed. I recommend opening a demo account with FXDD (they have NY close) to watch and mark your levels and opening an account with Oanda (or whatever broker you choose) to place your live trades.
Good analysis, and I agree with your S/R lines except for the gbpcad which is a bit lower in my book but that’s your gbpcad trade would of made money while mine is still in limbo so who am I to say that it right or wrong.
Anyway here’s to march!!
Darth
bullish pinbar completed on GBPAUD H4. On a retrace after gaining upward momentum. Seems to be at a swing low. Good to go long once it is broken? Appreciate your opinions on this.
Nice bullish pin bar and with the trend, though for me not at a swing low better if it formed a the pre-marked 1.8670 area.
Darth
I agree, although more conservative I’d like to see 8650 which has confluence with weekly PP.
I also see NZDUSD daily, waiting for pull back to 84 i.e big round number.
Apologies for no charts not on main pc.
PG
