Hi all,
Does anyone trade this pair and would see this as a potential good set up?
BUEB, not BEEB.
Hi all,
Since this pair is in a strong uptrend, is this BUEB at swinglow worth looking at? Or should the swinglow actually be at my red support line?
I was looking at that one, do you have tp at 1.0560?
Are you really sure about that one ? look at the long wick of the BEEB that clearly shows a rejection of the blow price.
In my book the best BEEB would have a long wick on the opposite side
Good luck
Itās rejecting a key support level which is good, but itās heading straight into another key resistance level at 17.1. No room to breathe. Personally I take very few trades in choppy markets.
Isnāt this a 2br? At swinghigh? Strong PA signal?
Are you sure your charts are NY close? My chart has a much smaller wick than yours. Yours doesnāt even look like a valid BEEB. In any case, the set-up is not good enough to make me want to trade into all of that mess below.
You mean this area?
It is very choppy and range bound, but what market isnāt? Donāt we want to trade from a rejection away from either s/r into another area of s/r, which show us potential tp areas?
Do you mean that traffic to the left, highlighted in chart?
Would it be better if it was 3 or 4 bars up, instead of so many?
It is a 2br but a BEEB ideally will not have a wick on the low end because a wick is a sign of price rejection of lower price area and, since you will be selling, you donāt want that
Nope. The signal is on the Daily so we manage on the Daily. Donāt fall into the trap of heading to lower and lower time frames to manage trades unless youāre taking a trade from a signal on that TF. The area youāve boxed isnāt really a problem area to trade into. Itās very clean compared to the price below and left of it, wouldnāt you agree?
Iāve marked the area I was talking about in this chart here, bound between the two lines.
Particularly the area on the left, itās just a mess that price will have to struggle through all the way down and could hold as support. The BEEB in question is already showing signs of rejection of this area, making it a certain no-trade for me!
I agree entirely with you and thanks for your explanation and patience.
I understand we want to trade away from s/r in the direction of the trend from a pullback area.
I have highlighted a potential scenario on the chart attached as a better alternative (assuming it is the trend direction), would that be a better set up? Less new resistance to deal with?
Well if you get a bullish PA on this one it would be a great setup, look at all this free space for the trade to move in
For sure, that would be the trigger to go long, yes.
On another note, would you have the lines in red as your s/r or the lines in green?
Yes but Iāll change it because I donāt really want to get into traffic, but Iām curios if it would go all the way down.
Particularly the area on the left, itās just a mess that price will have to struggle through all the way down and could hold as support. The BEEB in question is already showing signs of rejection of this area, making it a certain no-trade for me!
I agree on that choppy area on left side. Thatās why I put my TP before that traffic starts even with that scenario I could gain about 50 pips which is good. Or I could open 2 lots, TP 1 reaches only the beginning of the choppy area the other TP 2 doesnāt even touched the choppy area >> that way I lock profit
BEEB or BUEB must engulf 1 or more previous candles thatās it. Jonathon said:"ā¦the low must be lower than the previous bars low and the high must be higher than the previous bars high. Now some people get confused about the wicks of the candles but if you remember that the low and high must be outside the whole of the previous candle you will be alight."
I have highlighted a potential scenario on the chart attached as a better alternative (assuming it is the trend direction), would that be a better set up? Less new resistance to deal with?
Why do you anticipate that the price would go long? I donāt understand. The main trend is downtrend so the this BEEB would indicate the right direction. Trend is your friend broā. or Am I missing something? Please anyone lighten me.
Iāve been in this Jonathon trading for quite a time. I doublechecked, asked support of my broker and I compared hundreds of chart posted here by many old veteran Jonathon PA trader. Do you think I wouldnāt have noticed? I guess your chart hasnāt been changed to the daylight saving New York cl. chart. Check that with your broker. Why isnāt it a valid BEEB. if it isnāt a valid BEEB than Iām confused.
It is a 2br but a BEEB ideally will not have a wick on the low end because a wick is a sign of price rejection of lower price area and, since you will be selling, you donāt want that
It is a BEEB because it engulfs. the Bear candleās wick yes rejects a minor R/S level thatās true but I was analyzing the whole PA story I switched to 4H TF to see the story and Iām seeing a whole bunch of bear candles, a long bear candle is showed up too. I donāt know this is what Iām seeing thatās why I took this trade. Please correct me if Iām making a fatal mistake. I know it is a bit risky but an A+ trade is risky too. the whole forex is risky.
Hello to everyone, ive just finished reading the 1st 50 pages of the thread and some of the valuable links attached on page 1.
I huge thank you to all the contributors and senior posters and supporters of the thread, specially to Mr. Jonathon Fox. your inputs are so clear and direct to the point, it enlightens me a lot about the simplicity of PA trading and all the nescessities to carry on trades are almost given away for free.
how i just wish i bumped with you guys 5 years ago. im an asian and been trading for a few years now, on and off and of no continued success, ive used multiple indicators on my charts and trade mostly in lower timeframes m15 down to m5. i am currently applying this on demo and hope do it live this april.
i will be following with full interest.
regards
F
hi
could someone share their charts on gbp/chf ?
Iām using roboforex and it supposed to be NY close , I saw some charts and I think roboforex is not NY close .
Could some one share their gbp/chf and mention the broker you are using ?
Thanks
I find out that even though brokers use NY closing time, they can still have different charts.
For example:
Pepperstone and FXopen use both NY closing time, but as you can see, the charts are different:
Pepperstone:
Fxopen:
At the moment I find out that:
- Fxopen, Axitrader, FXCM, Pepperstone, Instaforex, Liteforex: they have all different chartsā¦but all are NY 5 close time
- FXpro, HotForex, Traders Way, Roboforex: avoid because they do not adjust the server time in winter.
what broker do you think is correct and making Ny close candles ?