Anyone trading this set-up on the Aud/Jpy 4hr chart? Nice confluence.
It’s doubtful for the following reasons:
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Price is ranging strongly.
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On daily there is a huge tailed pin bar that would indicate short trade.
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Price is in the indecision stage.
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A confluence can be plotted but there is too much traffic too.
Conclusion: It’s a 50/50 chance trade
Right bhops and dont forget the very big commanding Pinbar on Daily chart screaming us to go Short you dont trade against such a big commanding signals I guess.
To be honest if I am taking a trade on the intraday I don’t factor in the Daily or vice versa. There is often enough room on the intraday charts to take a successful trade against the overall trend of the daily, if that makes sense.
a question from you senior member .
I wanted to take aud/nzd 8h 2bar reversal but I didn’t take it because the last 8 hour on Fridays is not valid , is that correct ? or I could take it ?
Thanks
I wanted to take this too, in fact I posted it up on the FSO forum. It also formed a really nice BEEB signal on the H12. I would have taken the signal but due to the gap opening on Monday the trade was invalidated.
Normally with intraday trades I would say avoid taking them early Monday before the big boys in Europe and NY have woken up but due to both currencies being relevant to the Aussie/Asian session I was willing to take it.
Not from a swing high, I would leave it alone.
EURGBP D1 is now at important level around 0.8330-0.8350 Waiting for valid PA
Why it could be good trade?
-with down trend
-at significant level (5x support, 2x resistance)
-good R/R
What do you think about this?
Also I would like to say hello to everyone, because it’s my first post in this thread 
Hi
welcome to price action trading forum , you’re in a good place
the level is good , I’m looking for a big and obvious pa to trade it .
Good Luck
bhops - thanks for the analysis.
I am aware of the minor trouble area above, but feel it is a safer play (small position size on) than as others have suggested about shorting the pin bar on the daily - check out the level they would be trading straight into, and against the trend. The daily chart shows that price fell after the pin bar formed but only to the 93.00 level which is strong. I also notice how price was marked up straight through this level very quickly, it did not hesitate.
The 4hr is coiling up, its gonna move hard soon enough.
Maybe it would be safer not to take EITHER trade?
That I can agree on. That is why I only have a small position on because it wasnt the best set-up. I was looking to the 0.94 level to take some off the table.
Hi Jonathon
Great video, but just one question. You reccomend to set and leave the trade to avoid micro management, and in this instance you were confident in your price action to ride the trade out. However, are there any trades where you may lose confidence in your price action set up, and decide to cut the trade early? Or is this never an issue if we only ever use pending orders on A++ set ups?
Thanks
Owen- new to forex
There is this short term uptrend on EUR/USD and on 4H TF. I spot a BEEB which is a good signal because it engulfs many previous indecision candles. The price was ranging for sure but the ranging broke and at high swing formed the BEEb. It is worth to put a short pending on this I think.
I like the in depth explanation you gave on why you may short this pair. Quick question as I’m still a newbie: where would you enter your short pending order at?
Hi everyone
My name is Quenton, I have been in Forex for about 8 months now but only been doing research on PA for about 2 weeks now
Still very new to me though.
I am struggling to find the right areas as to where to place support and resistance.
In my attachment you will see the areas as I marked where I thought it would be a good idea to place S&R
Please correct me if I am wrong
I would really like to trade on 1 Hour but I see on 4hour charts looks a bit better.
Any inputs here?
I appreciate the help
I am using XAU USD
My attachment is not the best or biggest so I will add another one again and ask the question again sorry folks
