If you see a PA signal on the Weekly then you should play it on the Weekly with stops, targets etc.
unlike a daily chart âŚweekly candle changes every dayâŚhow do I take signal here ?
Do you want to say week close candle ? signal in a current weekly developing candle is not acceptable ?
Hi Johnathon and all the member here.
Been reading 50++ first pages.
And I feel really blessed that I found this Thread less than a year of trading and after a mostly break even trade which is getting me crazy sometimes. (at least I still have no exact method, still an empty cup that could be filled with anything. and filled with this thread, itâs worth it)
Iâll be posting my chart soon for sharing my trade and for opinion
God Still Love me
Good day all
ok then, this is my setup for GBPJPY H1 and USDJPY H1
did I put my SR on the right place for this trade?
I see price action in both of my resistance line.
I put my first TP on the next Support line
Am I doing this right?
hi armyharahap,
GBPJPY has good level but this is not pinbar for this bar didnot close within previous candle. USDJPY still not reach the key level around 102.600. we usualy mark the level on daily then go down to lower time frame to find PA signal for intraday trade.
I see, I take it that if there is a candle looks like a pin bar, whether it is around on the line, as long it doesnât close within pref candle so it is not a valid PA right?
for the lines from daily chart, wouldnât it be too far away from current price?as there would be many SR happen in between (the line I draw wonât be reached by today, probably)
some pair I draw the line from daily, if it close enough (by close, I mean I calculate my risk from my lot that iâm about to trade) but when I see itâs far, I take a look in my H4 or H1 chart. and for the PA, I look for every timeframe between M30-h4.
I must be doing wrong, I suppose.
Thereâs a bullish engulfing forming on daily NZD/USD at Fib zone and at minor support zone. Looking at 8 hour chart we see a strong bullish signal from that zone. As far as I understand the 8 hour chart doesnât qualify as any of the PA signals defined in this thread. But whatâs forming on daily potentially will. So I entered on 8 hour chart just now because itâs such a strong bullish signal.
What do you guys think of this setup ?
You say there is a bullish engulfing on the daily, but Iâm not seeing it. Price formed a 2-bar reversal, which dropped into some congestion and stalled out. Itâs now making a pullback to potentially retest the recent resistance around the .8700 area.
I donât watch the 8hr time frame, but Iâm not so sure I see the engulfing bar that you talk about, nor do I see any signal in the chart that you posted.
If you look back to the recent 2-bar reversal, you see that it was a strong signal because 1.) price rejected the previous resistance with a false breakout and 2.) price rejected the .8700 area. I got in off that reversal and took my profits out slightly before it got back to .8600 because of the congestion it was running into.
Personally, Iâm not currently seeing any setups. It did create a support level around .8600, but I donât see a signal off that bounce to go long at this point.
The 8 Hour is fine to trade but you must try and trade EBâs from swing points. Either swing highâs or swing lowâs. This is neither subsequently price hasnât really got the desired âspaceâ to move in to. I would suggest going to the start of this thread and looking up the links for swing points so you can really hone your understanding of what a swing point is/looks like. Then you will be much better placed to understand how to get the best out of PA trading.
As per the methodology contained within this thread that is correct.
when we trade PA, we not only focus on the single bar signal, but also the whole story of price action which reflect the behavior
traders. in this thread, what we trade is false break. if the candle close higher than previous candle, it means temporary trend still continue an the break still valid. the pullback momentum is not strong enough. enter trade at this time is risky so.
for the S/R drawing you can see more in here 301 Moved Permanently . on USDJPY, this pairs currently in ranging market, with this type of market, we only trade when price at extremes high or low see this link for more detail 301 Moved Permanently
Hi guys, here is some chart iâm concerned about taking the trade today, just wanna know if I put the SR correctly on these daily chart. planning to find the PA on H4 or H1 once the price get to the level.
please give me some opinion of this.
-----edited----
found this and already trade it with my demo account. is this a good setup?
this is GBPUSD on H1 TF.
the far blue line is a line from my daily chart, the solid blue and orange line is my minor line for the H1 SRâŚ
and i found this nice PA on that line,
is this trade is good as per this thread rules?
regards,
Army
How good is the set up below. Although pin bar seems to be small. The below is the 4 hr chart
daily chart for the level
the level is good but the candle is horrible, compare the size of this pinbar and previous bearish candles .
It can work but itâs no no no trade for me .
Good luck
i dont trade such as markets for below points
1-EURUSD: the big momentum is going down, it runs down after big BEEB with no trouble. i dont want to against it.
2-GBPJPY: the martket is temporary ranging, but this ranging is small and looks like the rest of market before breakout. i will waiting ultill they break and pullback to find the signal. this pair looks same with XAUUSD
3- with PA method, it was recomment to trade on high timeframe, with intraday trade, i ussualy trade on H4. only trade in H1 when the PA is very clear with trend and touch level on D1. with GBPUSD we can see clear up trend on D1, so on intraday trade, i dont want to against it, also it is at middle of trouble area
How do you mark your levels ? you should mark your levels only on Daily and weekly charts and trade them on other time frames .
the level you mark is nothing for me , have a look at daily TF , youâre selling on an important SR level .
good luck
Hi learningpips,
first of all, if you like to use PA method of Jonathon to trade, you dont need any indicators on chart, even trend line. just pure chart with S/R line. in this pair, this bar is too small to trade, also the down momentum is quite strong. We only trade the A+ setup when all condition is good. missing trade does not make you to be a losser.
yes, I actually want to wait for the pullback after the line broke.
I mark them on my daily chart, actually. but not on weekly. thatâs why I wanna ask people in this thread if my line were correct or not.
when I draw my line, I just simply drag my line through the chart and search for closest Support/ressistance or closes support that become resistance after break. By close, I mean closest to the current price. and thatâs what i got on my chart. did i do this incorrectly?
regards,
Army
What are everyoneâs thoughts on the GBP/USD daily? 2BR of previous resistance/support and going back into recent trend. It looks pretty good to me. But not sure if Iâm missing anything
when mark the level, just draw 2 line at key level on D1, 1 below and 2 uper current price and use them to trade on D1 and lower TF. just keep simple like this.