Cancel my pending sell. the price move higher.
[quote=ânus,post:18822,topic:41718â]
Yes, price moved higher, but the 2 bar reversal signal was very strong and at a very good level, I think you shouldnât have closed that order, because when you opened it, you were very convinced of its high probability, very often price takes its time to confirm the signal, the only thing you have to take care of is setting your sell price 10 pips below the low of the second bar in that case (2 bar reversal), in my chart it was at 1.2553, so your order should open at 1.2543
Hi guys,
I am following this thread for a long while and unfortunatly I did not post nothing until now, as the answers are clear enough for people who ask for help or advice. I am also a price action trader mainly on daily timeframe, but also on weekly (see UsdCad for an A+ pin bar setup which I am in). I did not felt necessity to participate proactively as I usually only see the charts when I go to bed and read your posts (NY close, as I am in europe).
My idea at this moment is to post a Chart with a trade setup and a poll for everyone to vote on it - in a clear and concise way.
With this everyone could understand if the trade is ok to enter or if generates doubts. Obviously this will be complementary to all advice given by members.
Do you think this is good? Do you like this idea?
I am a long time follower as well and have never posted. I really like this idea just everyone throw up a chart that they think is a good trade and we can openly discuss it. Great idea
Hi Psalda&Radius
Doing it together is a fasntastic idea as many minds together is better than 1. However we tried that very approach last year around September, and it turned out that everyone was cancelling each others trade ideas. And some of them were actually really good. As it was a nice pullback 4h PB on E/J formed and everyone agreed on taking it. As it was legit. But unfortuntaley it was a loser.
This somehow brought up an ackward feeling especially for the newbies and for a while posting trade ideas felt more like an ego game rather than sophisticated analysis. Fair enough it was a tough period back then but it left a bitter taste. This is how it went anyway. Doesnât mean it wonât change!
Maybe the two of you could actively contribute and discuss trade ideas further? Iâm looking forward to it!
Best
Here is the first example of a poll with a trade setup:
http://freeonlinesurveys.com/app/showpoll.asp?qid=468303&sid=ci7hoe4auhguz3q468303&new=True
Letâs see if works.
Here is the first example of a poll with a trade setup:
http://freeonlinesurveys.com/app/showpoll.asp?qid=468303&sid=ci7hoe4auhguz3q468303&new=True
Letâs see if works.
[quote=âVenfith,post:18823,topic:41718â]
Hi venfith, I open sell stop based on 2BR on H4 chart. Yes I convinced of its probability. But when price move higher and break the high of 2BR , I think the sell-stop order not valid anymore. I donât mind if price than move lower, because I set the order based on 2BR on H4 and Iâll stick to that plan.
Cheers. 
[quote=âVenfith,post:18823,topic:41718â]
Hi venfith, I open sell stop based on 2BR on H4 chart. Yes I convinced of its probability. But when price move higher and break the high of 2BR , I think the sell-stop order not valid anymore. I donât mind if price than move lower, because I set the order based on 2BR on H4 and Iâll stick to that plan.
Cheers.
[quote=ânus,post:18831,topic:41718â]
price didnât close above it , I think as long as there is no close above it ,it is a valid setup .
As experienced traders say : The greatest enemy of a trader is himself, not the market, not the analysis. To know yourself - that what you realy need to succeed as a trader.
[quote=âabc2005,post:18833,topic:41718â]
Yes, it didnât. But in my opinion, 2 BR not good enough if price move higher, even the candle didnât close above it.
My reference : The 2 Bar Reversal
Cheers
itâs a pinbar but a very small one ,
Is the pinbar with the trend or against it?
Can anybody tell how to think here?
Hi Daniel,
Take it easy bro, there will be endless number of oportunities that you will able to learn from :44:
Now, letâs see what we have hear :
A) The Trend - As long as you can identify that lower lows and lower highs are formed this mean you in a downtrend. You can see it on the image above (blue lines). And vise -versa, if you see higher highs and higher low are formed itâs mean you in an uptrend. Simple 
B) As to the PB fomed here - The area you choose is good area to look for the Price Action (PA), this area is around 1.2570 (red area on the image above). Why it is not exact number you ask? Because this how it works in this market - all support and resistance lines actually represented by areas. The PB that was formed here is a good one, with the downtrend we already identified.
But, but, but ⌠you see this huge bullish candle before the PB itself? Yeah, this one show us that there was buyers pressure that was rejected a little bit at 1.2570 area (this rejection is simple profit realization by the buyers as they saw the price is close to the resistance area). Then the PB was formed showing that the 1.2570 area was rejected and some sellers jumped into the game, but the PB is two times less than previous huges bullish candle. This mean that buyers have higher pressure in this case and it âscaresâ me :58: so I pass this one.
This was just a simple story that we can read from this chart. The more you expirience you have the longer and correct story you will able to read from the charts.
Chill Trading :64:
Hi All,
I have been following this thread with a lot of interest. Before I stumbled on this thread, I actually used all sorts of indicators to enter a trade but after I have read through the first 100 pages, I felt silly and price action is all I need to actually learn to trade. I would like to thank Jonathan for starting this thread as well as all the senior members and experts in this thread. I really learned a lot by following this thread.
TanCH
Itâs a proper Pinbar rejecting key level after pullback
It is a nice downtrend with textbook looking Higher highs and higher lows and then when it rejects that key level after pullback that makes it a good setup. The tail is not tiny and obviously itâs away form other candles and rejections in the past. Itâs not rejecting VBRN, BRN, not even a RN but it doesnât matter because the key level still stands. It closed within the previous candle so itâs good to go. R/R is not risky thatâs a good point too.
In every A+ setup there is a big bullish candle OR strong Bullish momentum before the rejecting Pinbar. A big bullish candle before a rejecting pinbar shouldnât disturb you before entering a trade or when you read PA story. For example take a look at this perfect EUR/NZD setup.
Comparing the whole size of the pinbar (PA signal) to the previous candleâs whole size I didnât read about this in Jonathonâs method, but maybe Iâm wrong please anyone show me a link to refute it.
It was a good setup. I took it but sometimes you have to take into account that A+ setups can turn out against you but with LOWER chances. Thatâs why you need to be expertise in money management to handle âsurprisesâ like this.
Pin bar was too small for me. It does stick out from price, but very barely.
You need the deadset obvious setups to ensure that you are taking on the best trades. Only then, will you allow your account to grow quicker exponentially as you will tend to lose less trades.