This may have been obvious to most people, but i have only just came across it myself with some clarity, either i missed a topic somewhere or i’ve read so much that i’m going blind lol.
Anyways thought i’d use a little bit of paint artistry to provide nice clear example of blended candles to help in our ever lasting search for the perfect pinbar setups.
Candlestick patterns are made up of one or more candlesticks and can be blended together to form one candlestick. This blended candlestick captures the essence of the pattern and can be formed using the following:
The open of first candlestick
The close of the last candlestick
The high and low of the pattern
This is such a great thread, especially for someone new like me.
I like trading 30 min chart in demo account. Would this pa work on that time frame.
From what I have read I would mark s/r on the hr chart and trade from 30 min.
Is that correct?
I usually trade daily, 4 hour and sometimes the 1 hour. if your trading the 30mins then you would mark s/r on the daily timeframe. when you drop down to the 30minute chart you would take trades from that s/r line (that you marked on the daily).
I then went to the 4hour to took for trades from the daily s/r line. the trade i.e 2bar reversal in this case can then be taken on the 4 hour using the daily s/r lines. its the same for 1 hour, 30 mins time frame etc…
So I draw the sr line from daily, and I want to trade 30 min chart I should look for my trades on 30 min chart.
I think my mistake I was making was, I was drawing sr line from next time frame up at 1 h chart.
Thanks for trying to clear it up for me. I spent all weekend reading around web and I’m more confused than when I started but I think u cleared it up.
I think I also been just looking for pin tops and bottoms and not seeing other reversals.
correct. when you draw your lines on the daily you can drop down to other timeframes and look for pa signals from those lines. as mentioned I usually look for trades 4 hour and daily. but sometimes 12 and 8 hour, the odd time I look at 1 hour - always using the daily s/r lines. also make sure you trade with the trend on the timeframe you are taking the signal from, in your case the 30 min chart.
Hey traders!
I’m short EUR/TRY. I’m in the red at the moment but I’m not “out” hopefully the market will sell off & the money will roll in.
Anybody else playing this?
Wanted to thank Forex School Online for this thread. I recently decided to get back into Forex trading again and try to make it my day job(Hopefully) I started learning PA and this thread is absolutely wonderful!!
Overall not a great few days in demo account, but I’m starting to see stick pâté earns better but having issues wit entry on my stops. But I feel overall price action they way to go for me.
This thread has helped a lot but I need to better get my entry’s and stops Bette.some bad trades should have been winners.
sorry I have personally not been around. As you may or may not have seen in the last couple of days, the reason I have been absent is because I had been working on a rather large guide that I wanted to get published to answers Bob’s point, whilst that info is not in here, I still felt it was info that would help traders out in their trading and it took me a long time to make and get published.
1: Everything needs to be used. The whole price action story. The wicks, the bodies, where price can and cannot close is also super important and tells us a heck of a lot as well. We are taking everything into account and then marking our “levels”.
2: This more depends on your experience! You need to earn the right to work your way down the time frames. Price action can be traded down the smaller time frames, but not just by any one. Send a new price action trader down to the 15 minute chart and they will get eaten. Send a price action trader who knows what they are doing down there and they will make money. Traders need to prove step by step on each time frame they can make money and as they go work down. A lot of traders actually find they never move past the daily charts through choice! Others can’t wait to get to the smaller charts and other want the happy medium of the daily/4hr setups.
3: There is no hard and fast rule. You are watching the price action and what it says. If price cuts through a level then obviously and closed above/below the level you are not going to look for a setup, but if price clearly rejects the level again, then we can once again look to make another trade. We are watching for what price tells us after it has played it’s hand.
hopefully the market will sell off & the money will roll in.
