I’m trailing from there, so 55 pip TS. I think it’s almost certainly going to get to that point, and if it turns around after that I don’t mind getting taken out at BE. That’s a very small boxing area anyway, not too big a deal for me.
Correct me if I am wrong, but I come across this “set up”
[ul]
[li] Bullish EB rejecting the S&R at and its a Swing low on the H4
[/li][/ul]
Full view to show the level
Close up to show the EB
Hi all, i take this 2 Bar Reversal on EURAUD. Just for an additional view, after price break 1.500 in the past, I think the head and shoulder formation has been confirmed
OP : 1.4897 , SL : 1.5027, TP : 1.4730
H8
I’m waiting for 8h close , I think it could be a 2bar reversal on swing low .
That is a sweet trade. Well spotted. 
I like the level and the shape of the PB but for me the size just isn’t big enough. Good luck with this one.
I would go so far as to say the signal is untradeable. However for those on their toes and seeing this level get touched would have been able to sneak in to this trade on the back of that nice 2 bar signal on the H4 which was posted up here recently.
A great example of how you mark your levels on the daily but can then hunt an entry on an intraday TF. I personally like the H4 and above.
Got it - thanks Fjanos
I found a potential key level to trade from. A nice key level on Daily CADCHF. We wait for the daily candle to close to see if it triggers a nice short PA signal for us. There is a traffic on the left and we could call it as indecision area, there is even a IB there but if the PA signal pass it through than it’s good to go.
Questions:
-
Do you consider SWAP rates before entering a trade?
-
Spreads: “I enter a trade only if spread<X”. What is your X? 5 pips? 10pips?..
-
Broker: How importatn is to have a broker based in your own country? If you use a broker based abroad, do you need to pay extra fees?
thx
PS: I just discovered the power of MT5. Having so many timeframes available is quite practical 
There is a consolidation box on the left indecision that could’ve trapped you in. How many pips did you take?
I closed the trade with a few gain so not to get stopped out. I just didn’t like that consolidation box on the left. It was just risky.
Hi Derek,
Swap rates is a so so factor. It really starts to matter when your trade gets dragged into weeks.
Spreads are really important. That’s your [B]business expenditure[/B], so you want to keep it as low as possible!
I found it easier working with brokers where you can fund&withdraw your account straight from your bank card/visa/Master or equivalent.
Mt5 is not practical?! It’s Critical!
Best
I’m Liking this PB on Usd/Chf 1H;
It comes at a super critical level, posted about it here too.
Best
Hi Can you explain a little more about why you see this as a key level. I’m still very much a newbie and didn’t find the level jumped out at me. What do you see that gives you conviction in the level ?
I did look way back and found that this are was a major swing low back in Mar / Apr 2005. Is that part of your reasoning or are you looking mainly at recent S&R.
I’m keen to learn so would value your comments.
I see that the BRN of 0.8000 is nearby. Maybe we should look to this as our key level ?
Thanks in advance
Currently up 65 pips. My SL is at break-even so it’s a free trade now and I’m going to just let it do it’s thing. The bulls tried to come in at BRN 1.96; seems they were all murdered after a brief struggle. Going to TP after 100 pips (1:1 R:R) as it looks like the bears are strongly in control.
It looks like that consolidation box and the inside bar didn’t scare you. Good for you.
This is how I read the whole story.
