Do you guys think this is a good setup into AUD/CAD or do you think there is resistance below what would be the entry? Reason for trade would be bearish engulfing bar at an S&R line.
Can tell somebody what is FSO i would also like to join it. Thank You
hi lovac it stands for forex school onlineā¦
johnathon who runs this thread is an expert on price action.
he is training us upā¦but you can get even more expert tuition if you join his course for a modest fee.
here are the details.
The Pin Bar
i will hopefully join when i start making some moneyā¦as this is a no nonsense approach to trading and it focuses you to the top tradesā¦from where you can make fat wads.
Hey Lovac24,
Its Forex School Online. Johnathon Fox a Mentor , who started and maintained this thread. He has posted some interesting articles and videos on his Website . Have a read and look at Forex School Online | Learn To Trade Forex Price Action Trading Strategies
Cheers
HA
i rather wait for a long Pin bar or signal before i enterā¦ its a strong trend upward
Hello Brink,
okay you need to slow down and stop over complicating things. Keep it simple!
Why are you assessing what the USDJPY will do when the trade in discussion is the NZDJPY?
Who cares what the USDJPY is doing. Of course it will do something different as it is made up of another country! The US. Both these pais have completely different support and resistance levels and look nothing alike, meaning they donāt do the same thing. Look at both charts and you will see they are two different pairs.
The USDJPY could go up and the NZDJPY still down.
You need to focus only on the chart of the setup and keep things simple.
Safe trading,
Johnathon
EUR/GBP H4
So I saw this Bearish Engulfing Bar this morningā¦ noted by the arrow.
I didnāt like it because of the all the traffic I circled to the left. This pair is also ranging so there is no trend to go with.
Obviously it worked out, and itās at a point where I would have taken profit and moved stop to B/E. So Iām wondering if Iām being too conservative, or would this really not be considered an A trade.
Thanks in advance for any opinions!
Rob
Hey all,
I have been going through the last few pages to catch up what I have missed. From this I want to make a few things clear.
We do not use IBās or indecision bars as trade triggers in this Price Action thread. The reason is over time they simply do not make money. As simple as that! Please think about this: Price Action has been around for a very very long time. If people could make money by seeing an inside bar and trading the breakout, wouldnāt everybody be rich? Cāmon wouldnāt everybody not have jobs and just make zillions of trading inside bars?
This is the same with indecision bars. We do not trade indecision bars. Why would we trade a candle that is telling us it is indecisive when we could simply wait and trade a bar that is very decisive and telling us which way it wants to go?
Of course these will work out from time to time. I could also enter the worst type of pin from the very worst area and it may work out sometimes. What I am tryingt to show you all is what to do so that over a long period you will be profitable. Not gambling, but having a real edge on the market.
There is one reason traders and people love to trade IBās and indecision bars and one reason only. Itās because they form all the time. They form on all time frames and nearly every day. The absolute number one reason people lose money in the markets is because they always have to trade. They always have to be in the market. Inside bars and Ind bars give traders what they want. It lets them enter and be in trades! This is why they are so so popular with new traders. In between the very good setups forming we could get 10 of these setups. So whilst I am not trading anything others who are trading these other IBās can be in trades. This fills the void they have of needing to be in a trade.
Just let me please repeat something for you all: The number 1 reason people do not make money is because of the need to be in a trade and participating in the market. It is by far the biggest account killer there is!
I am sorry if this offends anyone but I am simply telling the truth. I am here to help you so please at least think about what I am saying. Everything I see in here, and what people are trying I have been through! I have traded the IBās, I have over traded, I have lost money doing this!! And I see it repeating everyday in others!!!
At the end of the day the way I trade and teach people to trade may not be for you. There is plenty of other threads in Babypips that will trade the above mentioned setups and also discuss things that maybe personally suit you better for your personal trading style.
Safe trading to all,
Johnathon
1 Like
Hello are you using the charting gear suggested on page none that we use for spotting setups? My charts look different to your.
Correct demo charts found here:NY Close charts
Johnathon
Hi,
Sorry I deleted my post cause the pics were blurry. Nope Iām not using the charting gear youāre referring to, Iāll go check it first. Might be the reason mine looks different is because I use GMT +1/+0 charts. Thanks will get back to this.
It seems like you finally jump in with the Big boys. Great for you. Hope I can join you but I am still struggling with my finances. Hope to end my month with 20 percent almost there. It is just like we are going to miss all your valued contributions.
Hi guys,
Ok Iāve got the suggested charting gear installed (from peppermint). Here are the charts: (EurUsd & GbpUsd 4hr)
They arenāt pinbars as opposed to my charts, but judging I would say they are Bullish piercing patterns? Do you guys take these signals? Also did I identify the S&R levels correctly?
But if your chart looked like this (like mine), would you say this is a pinbar? (tail long enough?)
Hi Sicnarf,
Few things which Johnathon have mentioned in the thread many times and I think in last article about inside bars.
The discussion in this thread are for
Pin bars
BUEB or BEEB - Engulfing bars
2 Bar reversals
In the third chart , the pinbar is too small or I should say by the looks of it , its not a pin bar ā¦ Long wick and it should close in between the previous candleā¦
Cheers
Hemant
Goodstuff Andy!, I hope it works out better than well 
Oh alright, will try to read the previous posts when I have time. So a pinbar needs to close inside the previous candleās body? How about if it closed just within the lower wick of the previous candle? Thank you for the clarification.
Pepperstone lol and no thats not a pinbar because it doesnāt close within the previous candle. Can someone check out my setup and see if you think the engulfing bar is legit? I donāt play engulfing bars much. Mainly pinbars.
Friends i would like to hear all of your valuable comments on this bearish engulfing bar in NZDUSD daily chartā¦what can be best set up here?
Thanks
What setup are you talking about? Pair?
AUD/CAD bearish engulfing bar on some resistance on the daily chart.
Hi Rob,
After the last BEEB traded on EURGBP daily, the pair has just been acting kinda haywire IMO!
My A+ checklist: setup must be:
- at a key level (S/R-wise and swing-point-wise)
- large & obvious PA ( i.e decisive )
- (preferably) with the trend
PS: even if all conditions are met, it is still your discretion whether or not to enter, for certain given reasons, e.g traffic overhead/below that could jeopardize the trade.
I would not have touched the BEEB in the H4 had I seen it! coz first itās not quite at what I think is the S/R, and also all that trafficā¦ (and when you find yourself saying ākindaā about a setup, you mind is already questioning it!, so if you take it, you will worry and potentially over-manage that trade!). So Iād have passed this up.
PS: the marketās been quiet this week, very tempting to forcefully make tradesā¦ Bryce was right, besides finding A+ setups, being able to patiently wait for them for days is the real dealā¦
Cheers!
