Forex Price Action

[fxteddy]

:35:nice bullish engulfing bar forms at valued support
we can call it 2 bar reversal also
although we are going to take trade against very dominant trend but as
it is daily chart so we can take this trade

[fxteddy]

i am new in mt5 platform
but finding it slow than mt4 platform
now i draw my support and resistance line on daily time frame and
then look for 4/6/8/12 hour timeframe for a+ price action signal
is it right approach?

[abc2005]

i am new in mt5 platform
but finding it slow than mt4 platform
now i draw my support and resistance line on daily time frame and
then look for 4/6/8/12 hour timeframe for a+ price action signal
is it right approach?

absolutely

[abc2005]

:35:nice bullish engulfing bar forms at valued support
we can call it 2 bar reversal also
although we are going to take trade against very dominant trend but as
it is daily chart so we can take this trade

this is how I’m gonna to manage it , the FTA is on 92.60, so I’m gonna to move to BE there and tp1 on 93.00

[abc2005]

this is a nice engulfing bar so we could expect
price will rise some more
as it has forms in valued support point
but we will not buy from here
as we are seeing a nice downtrend
a strong downtrend
so we will wait for a pullback and then sell again
we will got with trend for making our trade A+

The trend is perfect , we’ve VBRN 0.8000 + daily swing and I think we can sell from here.
when we’ve a very strong trend, we can’t expect big retracements so we can go along with trend on nearer levels

Good luck

[fxteddy]

@abc2005

The trend is perfect , we’ve VBRN 0.8000 + daily swing and I think we can sell from here.
when we’ve a very strong trend, we can’t expect big retracements so we can go along with trend on nearer levels

Good luck

i am not sure but do u referring from this level?

[fjanos]

:35:nice bullish engulfing bar forms …to take trade against very dominant trend but as it is daily chart so we can take this trade

As you said it yourself, it is a Counter Trend, why is that situation would change on daily chart? It is daily chart so you can take counter trend trades. ??? Not a very good reasoning I think.

this is how I’m gonna to manage it , the FTA is on 92.60, so I’m gonna to move to BE there and tp1 on 93.00

It is CT so BE CAREFUL.

[FOREXunlimited]

@FOREXunlimited

Hi there QUESTION-

Was watching this approach as well, but I don’t agree with your analysis so I felt like sharing and maybe sparking some discussion. I think the GBP is in for some rough waters ahead.

Shortly following that swing point being taken out intraday (the newest Higher Low), there was a D1 close back above 169, but the price action just isn’t signalling continued strength to me right now on a larger scale.

It does look like your initial profit target is spot-on though if strength was to follow.
May I please ask - how did you arrive @ the horizontal level of support on your chart?

D1

H4

Wanted to share my charts - didn’t get a chance to yesterday though. What do you think (i.e. GBPJPY)?

[fxteddy]

will someone tell me which brokers support mt5 platform new work close 5 day chart?
except hotforex/gomarkets/insta/roboforex/liteforex?

[abc2005]

@FOREXunlimited

D1

H4

Wanted to share my charts - didn’t get a chance to yesterday though. What do you think (i.e. GBPJPY)?

I didn’t understand it , could you explain it alittle ? the images are not clear too .

[fxteddy]

@QUESTION

the area is valued area
this pair is in uptrend in short term momentum
we saw a nice pullback
a nice pin bar formed at 12 hour time frame in a
nice zone
so is it the right time to buy again?

bad luck

[westpest]

Xau/Usd Daily

Breakout and retest of 1350 level.
May hold as new support.

[westpest]

Cad/Chf D1
Another breakout and retest.
Inline with the long term Trend=Down.

[FOREXunlimited]

bad luck

I didn’t understand it , could you explain it alittle ? the images are not clear too .

I was seeing more factors of price action going against you, than were for you.

[ul]
[li]Swing high 1/2/2014 , lower high 1/22/2014, lower high 2/17/2014
[/li][li]False break 3/7/2014 up above the 2/17/2014 high
[/li][li]Impulsive selling in the face of your pinbar
[/li][li]That most recent leg down completely wiped out all the gains of the most recent leg up - where did the buyers go? They tried to take prices higher after about a 50% retracement (Small pinbar on / around 3/12/2014) but were wiped out.
[/li][/ul]

Where is the true demand to buy?
If you ask me, I’d say it’s around 164 - 165.

If you were looking for a shorter term play, waiting for price to get down to 166.5 - 167 would have been a bit more conservative of an entry.

[fxteddy]

I was seeing more factors of price action going against you, than were for you.

[ul]
[li]Swing high 1/2/2014 , lower high 1/22/2014, lower high 2/17/2014[/li][li]False break 3/7/2014 up above the 2/17/2014 high[/li][li]Impulsive selling in the face of your pinbar[/li][li]That most recent leg down completely wiped out all the gains of the most recent leg up - where did the buyers go? They tried to take prices higher after about a 50% retracement (Small pinbar on / around 3/12/2014) but were wiped out.[/li][/ul]

Where is the true demand to buy?
If you ask me, I’d say it’s around 164 - 165.

If you were looking for a shorter term play, waiting for price to get down to 166.5 - 167 would have been a bit more conservative of an entry.

why dont you use chart ?
i think ur comment is valuable but without chart it is not possible to understand it clearly

[hanz0]

XAUUSD 1D anyone else planning to go long?

[westpest]

Usd/Chf D1 +4HR

Price Trending down.
Price at 50 % of last swing.
Price at swing high.
Price at 0.8750 key level.
Pin on 4hr has a long lower wick.
Maybe price on daily chart will print a better pinbar.

[FOREXunlimited]

[QUOTE=“QUESTION;613224”] why dont you use chart ? i think ur comment is valuable but without chart it is not possible to understand it clearly[/QUOTE]

My chart is not coming across clearly…just pull up yours…either an 8 hour or 4 hr chart will do.
I included the dates in my post so you can see for yourself via your own platform.

[ddi]

I see your point forexunlimited…very good analysis…i got stopped out aswell on this trade. However i’m not fully sure whether the price will go down further. IMO there is a long term uptrend in place since august 2013. To me price will go down if it closes below 168. Let’s see.

[tonyro44]

Hi ddi if your looking at USD/CHF i don’t see a long term uptrend on it, i see a long term down trend. So i am not sure if we are looking at the same charts,my charts closes at NY time.

I see your point forexunlimited…very good analysis…i got stopped out aswell on this trade. However i’m not fully sure whether the price will go down further. IMO there is a long term uptrend in place since august 2013. To me price will go down if it closes below 168. Let’s see.