Forex Price Action

[fjanos]

I took it and i’m really disappointed!!! my take profiti was 2 pips below the pin low…i could not access my phone and when i did the price was up…i had already moved my SL to break even and my final profit was 15 pips less than planned…forex sucks sometimes…

But it was a good setup. Did you take the minor support level into consideration? The pin tails were touching that level but you could still take about 50 pips. Sorry for your loss.

[Ennyone]

@EternalNewB

Off course take my comment with a grain of salt but the level of the GBPCHF is pretty relevant my eyes

well I have my line a bit higher (at 1,46) and so I have quite some s/r-action around it in the past.

However, I see your point which makes me think twice and I thank you for that. But it didn’t get me off that trade and I’m still that convinced this trade can work out often enough and I set the order to go for it… let’s see

[Mr_B_A_Barracus]

[QUOTE=“EternalNewB;613950”] You are then already in the money However the 4h pin bar closed above support line here on my chart, care to share your S/R line ?[/QUOTE]Hey ET Are you talking support or resistance? I have resistance around 1.46233

[Pippin_it_Old_School]

Hey Guys, has anyone noticed this broadening top formation on GBPUSD? I don’t focus on chart patterns too much, but this one caught my attention. Price is at an extremely important level right now on the weekly chart and is starting to move lower on the daily, printing a BEEB at the 1.66 level. From what I have read, these formations are reversal patterns that appear at extreme highs. If price can break past the 1.625 level, we might be seeing a new downtrend and can start looking for short trades.

How many of you are looking for patterns like this and which ones do you find most frequent/reliable (including pennants, wedges, head & shoulders, etc.)? Looking to add more weapons to the armory

[EternalNewB]

You will be lucky to get away with this lol

Johnathon is not a big fan of patterns and is rather strict about this thread rules PURE PA only and patterns are not PA Pattern Traders are NOT Price Action Traders

Cheers

@Pippin_it_Old_School

Hey Guys, has anyone noticed this broadening top formation on GBPUSD? I don’t focus on chart patterns too much, but this one caught my attention. Price is at an extremely important level right now on the weekly chart and is starting to move lower on the daily, printing a BEEB at the 1.66 level. From what I have read, these formations are reversal patterns that appear at extreme highs. If price can break past the 1.625 level, we might be seeing a new downtrend and can start looking for short trades.

How many of you are looking for patterns like this and which ones do you find most frequent/reliable (including pennants, wedges, head & shoulders, etc.)? Looking to add more weapons to the armory

[Pippin_it_Old_School]

You will be lucky to get away with this lol

Johnathon is not a big fan of patterns and is rather strict about this thread rules PURE PA only and patterns are not PA Pattern Traders are NOT Price Action Traders

Cheers

Did you even read that article?

Patterns are just candlestick formations that can give us clues as to which direction the market is heading - of course they are price action. Any move price makes on the chart is price action. In the article, Johnathan is talking about the difference between traders who simply look for a pattern or candlestick and they’re in the trade vs. traders who read the price action story and look for confirmation at key levels.

Cheers

[EternalNewB]

Did you even read that article?

Patterns are just candlestick formations that can give us clues as to which direction the market is heading - of course they are price action. Any move price makes on the chart is price action. In the article, Johnathan is talking about the difference between traders who simply look for a pattern or candlestick and they’re in the trade vs. traders who read the price action story and look for confirmation at key levels.

Cheers

Yes I have read it and I stand by what I said, patterns are not traded in this thread, I am not saying they are not good nor that you shouldn’t learn them or anything. All i am saying is that in this thread “rules” are rather strict and patterns are part of them just like MA for example

Cheers

[Pippin_it_Old_School]

Yes I have read it and I stand by what I said, patterns are not traded in this thread, I am not saying they are not good nor that you shouldn’t learn them or anything. All i am saying is that in this thread “rules” are rather strict and patterns are part of them just like MA for example

Cheers

I don’t trade patterns, nor do I think anyone else in here does. I trade high probability set-ups such as pin bar, 2bar, and engulfing bars. Like I said, patterns give us clues as to which direction the market is going and I think it’s valid to discuss them. Please direct me to where it says I am not allowed to post about price action patterns in this thread and I will never post about one again.

The best to you

[adamjn]

Ok Well I was just trying to warn you as I personally think the setup will fail on Monday or Tuesday and price will continue up to 1.469 area before dropping again. I would actually buy that if it broke a level I have marked, but everyone has their own opinion

That is not true, that GBPCHF is not at a swing low, whilst it’s not the best pin bar in the world, it is a pin bar which has formed at a swing high and maybe considered as a retracement. I personally am already in the 4hr Pinbar.

[EternalNewB]

I don’t trade patterns, nor do I think anyone else in here does. I trade high probability set-ups such as pin bar, 2bar, and engulfing bars. Like I said, patterns give us clues as to which direction the market is going and I think it’s valid to discuss them. Please direct me to where it says I am not allowed to post about price action patterns in this thread and I will never post about one again.

The best to you

Who am I to say what you can or cannot post

Cheers

[Mr_B_A_Barracus]

[QUOTE=“adamjn;613984”]Ok Well I was just trying to warn you as I personally think the setup will fail on Monday or Tuesday and price will continue up to 1.469 area before dropping again. I would actually buy that if it broke a level I have marked, but everyone has their own opinion [/QUOTE]

Hey adamjn

I don’t know how this trade will work out, it may well fail, but all I meant was that technically this pin bar formed at a swing high.

[fxteddy]

@fjanos

Your judgment is not accurate. 2bar reversal at swing high. No retracement which means this 2bar could initiate the retracement, you can trade those too, that is still PA.
-Super high?? what do you mean?

-I think the problem is the minor level that is under it where the FTA begins. You could still profit about 50 pips.

“rather go to 6 hours chart some valuable setup…” You mean to trade the same pair but different TF? If you go short there than it is the same price movement and you get the same trade

i did not mean the same pair in different time frame
see some of my post i posted my recent trade setup in 6 hour time frame
and we know we could play these trade but i refer about a+ set up
nothing more

[fxteddy]

in an uptrend there is a nice retrenchment:56:
we are seeing a nice bullish engulfing bar here
the bar is obvious and large so we can anticipate a huge momentum also
mates , what are you thinking about this pair?

[fxteddy]

is this a good trade?
are there any of my mate with me
in this trade?

[adamjn]

Patterns are PA bro

PA means Price Action, Price action is what price has been doing, if price formed a head and shoulders, that is what price has done, therefore that is price action.

You will be lucky to get away with this lol

Johnathon is not a big fan of patterns and is rather strict about this thread rules PURE PA only and patterns are not PA Pattern Traders are NOT Price Action Traders

Cheers

[abc2005]

@fjanos

Your judgment is not accurate. 2bar reversal at swing high. No retracement which means this 2bar could initiate the retracement, you can trade those too, that is still PA.
-Super high?? what do you mean?

-I think the problem is the minor level that is under it where the FTA begins. You could still profit about 50 pips.

“rather go to 6 hours chart some valuable setup…” You mean to trade the same pair but different TF? If you go short there than it is the same price movement and you get the same trade

a question , don’t we set pending orders under or above the PA ? are you waiting for a pullback and then sell it ?

[abc2005]

gbp/chf closes a pinbar on daily TF and rejecting the resistance .

[abc2005]

is this a good trade?
are there any of my mate with me
in this trade?

the traffic and vbrn 0.9000 is bothering me …

[abc2005]

@QUESTION

in an uptrend there is a nice retrenchment:56:
we are seeing a nice bullish engulfing bar here
the bar is obvious and large so we can anticipate a huge momentum also
mates , what are you thinking about this pair?

I don’t want to disagree with you , just want to tell my view
Traffic

[tonyro44]

I am already on closing positions for the week-nd, i don’t wait for the closing bell.

the traffic and vbrn 0.9000 is bothering me …