Hi,
I am new to PA thread (and new to the forum).
So first of all hello and thank you all for all the information.
Learning a lot as i read through all the posts. I am trying to find new examples on my charts of the PA’s that are described.
Currently I am looking at the daily EUR/AUD Chart
What’s wrong with the BEEB on 29th? It looked like such a beautifull setup.
Is this an example of “a false one that draws you in”?
That’s not a BEEB mate. EB has to engulf the entirety of the previous candle (body+wick). That one just engulfs the body.
ooo thanks for your quick reply.
Back to the books for me
Hey no worries… Made the exact same mistake when I first started!
Did you trade this one?
No, my broker doesn’t offer AUD/SGD and I’m trading a different system now.
Fair enough, so you don’t do price action anymore? Were you profitable whilst doing it though, or are you more profitable now?
I don’t want to derail the thread so I’ll shoot you a PM after dinner.
Jadd Would be great if you could shoot me that PM too! 
[QUOTE=“jadd806;625293”] I don’t want to derail the thread so I’ll shoot you a PM after dinner.[/QUOTE]
Please if possible to me also
Heya Zubair,
whilst this was an okay area to be looking to take long trades, you need to be mindful of the overall story and especially what you would be trading back into.
I made a post about this the next day, but price had found support and then burst lower and when you were looking to get long I was looking for the market to pull back and get short at the old support new price flip resistance area. The reason for that is by taking longs you would be trading back into all the mess where as taking the short you would be trading away with the very short term momentum.
AUDCAD Daily Chart
I can definitely see your idea and why you would look for longs from there and it is also not wrong at all, but when price was going to trade back into this area it was going to have a time to breaking through with all the traffic overhead and especially as price had just found support there previously.
Safe trading,
Johnathon
Exactly… High probability trades is what we are after, but not perfect. Every trades involves risk and sometimes traders can go from way overtrading to the other side, but it can take time so don’t beat yourselves up. It can often take time to find the happy medium and learn what is your personal style, but try to remember that every trade does involve risk and no trade will ever, ever be perfect.
Johnathon
What are traders thoughts on the weekly BUEB on the NZDJPY? How would you guys assess it (both senior and new)?
NZDJPY Weekly Chart
It’s a nice uptrend and price bounced the support area. A BUEB was formed at pullback but the target is too close to the resistance area and R:R ratio isn’t favorable either. I wouldn’T take it.
Imo, price action is the most profitable trading strategy about. Add your own touch, mine is inside bars. Once you know how to trade your system and know it is profitable, trade it like a robot.
the price is sitting on extremmely high with momentum is weaker and weaker, also the R:R is not good, so i pass.
I see the R:R at 1:1, so pretty good and the fact that once the high is broken it may climb a lot higher, to maybe 91, which was the highs in 2007, making the trade very profitable.
Risk is around 135 pips reward 62 pips. Is it really that good?
Your target should be at the next R/S level which I’d put at around 89.200 and you should have a strategy too because “…maybe it climbs up to 91” is not a good strategy even if you don’t take a trade don’t get into anticipations like this it could become bad habits (I know I’ve been there), remember you follow the trend and the big guys not predict them.
Most of the time if the setup is A + than one should go for it without much thinking about R:R but with doubts stay out. My doubt is that there is not enough space to let my profit breath.
I see risk of 170 versus 100 reward, not a bad R:R, as most trades are in that area I find, such as the latest XAUUSD (280:320) and the GBPNZD (70:100). My understanding of this strategy is that most trades are based on a high probability with a combination of a decent R:R. And maybe it goes to 91, maybe it doesn’t, that’s the beauty of trading, nothing is certain, just a higher probability, hence the edge we look for in price action trading.
Easy for me to say all this, I only took it in demo anyway…
Hi my two cent, in some cases where you have a trader with strong win record and he is only looking to make less pips to finish his quota , he might just take an R:R like that one.
