it is: forexschoolonline.com Johnathon’s site for PA trading information and schooling. Very good indeed.
Hi Leon.
As you saw it pulled back a lot after hitting the 1259 support. I took profit at 1259, and had my SL above the triangle, yes. Gold is a good pair for trading for me, but sometimes it moves some mysterious ways within a single day candle that’s not visible when it closes. So a good strategy for SL and TP is nescesarry, at least that’s what I have learned.
Thanks for the information
Im glad I trailed my stop also, thanks.
Johnathan,
Thank you!!!
I have just finished reading all 1925 pages. This is excellent and I wanted to post and say thank you!
You have handled yourself very professionally with ton’s of great information. I know that teaching
is very hard and your excellent at it. This is to a job well done!!! Once again thank you for all your
time and effort and knowledge!!!
snarlyjack
And you are getting these still on your live MT4?
As I think I mentioned to you previously, I have seen this regularly with demo MT’4, but not with live account so if you are getting these irregular spikes with a live account either look at getting some sort of upgrade or changing the MT4 you are using because there is a ton of different MT4’s and I checked all the MT4’s I use and none showed the spike you are showing and the MT4’s I have are all live feeds.
You need to start asking yourself if you can trust this broker anymore and if your trading business is worth using with their charting when their is a ton of others that don’t have their issues.
Yes that’s correct, price action or any method will never be 100% correct, but it is building and forming an edge over the market. We only need a small edge over the market and the point is that looking and trying to outsmart the market by reading what is coming out in the news does not add to the edge over the market and that is what we should be trying to add to.
Instead of wasting time guessing what is going to happen with the next announcement and where price is going to go or if we should stay out of the market because a rates announcement is coming out even though there is a trigger signal we would normally take etc we are better working on increasing our price action edge over the market by improving our skills.
It is just the same when a trader does back-testing. They take the win, the losses the breakevens and everything in between and they have no idea when the news or anything happens and all they come out with is the win rate and their edge and this should be the same way that traders in here are looking at it. They should be looking at it as their price action edge over the market.
Johnathon
There was a ton of discussion with this one so I thought I would recap it.
This has been discussed in here ever since price broke through the key support area on the daily chart by some switched on traders and price finally at the start of the week did retrace and formed a BEEB.
Price broker through and confirmed the BEEB and moved lower into the near term support where price did find support and has now formed a bullish rejection/pin bar.
I would still not be surprised to see price once again fall back lower from here and the reason for that is; firstly the overhead resistance as has been heavily discussed is a key daily flip level and secondly, what often happens in these scenarios is that price will make a push and if it finds a support or resistance zone the traders who have made profit from selling from resistance will cash in their profits. This can then create a move back higher which we have now seen, but this can often be short lived because this move can often just be profit taking and once the bears come back in price will then often roll back over.
It remains to be seen what happens here and whether the overhead resistance of the support below will win out.
Gold Daily Chart
Safe trading,
Johnathon
That’s one little habit you don’t want to get into…
The problem is we can never be sure exactly what setups will be winners and which will be losers. All we can know is that over time we can have an edge over the market.
By putting a higher % on certain trades than others, what you are doing is saying that you know what trades will be winners and what will be losers.
By doing this you can actually affect the whole edge and from the same trades change an edge from profitable to unprofitable just because of the different % you have put on different trades.
For example; if you normally risk 2%, and you have two winners at 1/1 RR so your account is now up +4%, but you then see a trade that you think is just awesome and decide to this trade risk 5% and it loses. Your account is now down -1% when if you had of just kept risking the same 2% the whole time, your account would still be in profit 2% because you would not have taken on the 5% loss you would have only take the 2% hit.
Make sense?
Johnathon
Copy that, thanks!
WOW all 1925 pages ,your going to do well snarly and good luck to you.
yes mate you get the point this time
if we wish to trade without tension and emotion then price action is the perfect tools
cheers
It absolutely make sense Johnathon, I am workin on that. Due to your guidance I have been able to build a better foundation for good trades with improved money management. So I am going away from the few 4-5% risk trades now. And stick to the max 3%. Thanks. 
Henning
Very True, I’m keen on the gbp/jpy 6h PB.
Best
Hi all,
I found this thread some time last year and read most of it with the intention of trying out the price action strategies. Unfortunately just after i finished the thread i found a new job which meant i just didn’t have enough time to be active on Forex. I am back now and hopefully will finally learn a lot and make some pips.
My biggest ‘blocker’ has always been the fact that i have a 9-5 job which means i find it very difficult to find the confidence to get started because i am just not confident enough to enter a trade and leave it running for a full day without knowing how it is doing.
Hopefully with this system i want to try and see if i can use it with only the Daily and 4Hr candles. I am based in the UK so i should be able to look at the charts once at night and twice at work.
Quick question, does anyone know if these brokers use New york close time
Alpari UK
TradingView
not sure about tradingview but alpari does.
Anyone thinking about taking the beautiful 2BR on the ea?
Is this it? I placed a pending here, yeah strong resistance and support line from oct and nov last year, it is also a strong BEEB on the 8 hr tf.
Actually, where did you place your entry/exit points? I have my entry at 1.44226 (low of lowest bar with buffer), sl 1.45253, tp1 1.43636 and tp2 1.42744.