Well you took the trade where there is allot of traffic , but it does have a bearish bias so there is a chance you will do fine. I would bring the trade to break even when ever possible.
Lepip, thank you for opinion. Candle after doji is signal for short. Both candles (doji + berishcandle after doji) make berish engolfing pattern. Berish engolfing on resistance is strong signal indicating that bulls are not in control. I agree with you itās possible consolidation here but also equal chances that price goes right down.
thank you my brother.
In case if somebody of new people in forex follow me in this trade I just want to say that Iām out from tonight with profit of 52 pips. Doji on 50% fibo could means that price may go up. I wonāt waiting to see am I right.
looking for advice on this guys.
been away for few days and i returned to this setup, problem is iāve missed the swing high, but i love the setup here.
with so many confluences i really want to be in this trade as it seems a sure winner.
my issue is iām not sure how to enter this market now that iāve already missed the swing high.
is it still worth trading in your opinion and how would you enter this in itās current state ?
Iāve setup on the weekly chart with an almost 1:5 ratio, but iām very curious how others would have approached this.
should i have just waited for another setup ?
interested in your views
Jamie once the ship has sailed youāve got to let it go. what i can give you is the 100% cast iron certainty that there will be many more set-ups like this just around the corner.
thanx for the feedback,
kinda had that feeling in my gut tbh. :34:
Still short on EURNZD, looks to be maybe going my way now, but weāll see next week. It was a real mess and whipsawed around the resistance like crazy.
Took the trade quite early as the first of the many signalish candleās wick hit resistance. I have a wide stop in place.
Hey guys,
anyone catch the USDCAD daily BUEB X Inside Bar combo setup formed at the obvious key daily support level? How are you guys looking to play this one.
After a quick pause and forming the inside bar, price has now broken and confirmed the BUEB so it will be interesting to see if price can continue the strong push higher into the next strong area of resistanceā¦
USDCAD Daily Chart
Johnathon
Heya Leon,
before entering each trade you need to working out the complete inās and outs of your trade and coming up with the complete pre-trade plan. You should not be getting into the trade and then trying to guess or figure out where the major levels are or who you think you want to manage etc because this is when the money is on the line and when your not going to make as clear decisions as what you will before you are in the trade and nothing is at stake.
Before entering your trade you need to work out exactly where things lie and exactly how you plan to manage the trade.
Forget the news and announcements. Your are either a price action trader or a new/announcement trader. As a price action trader you are reading and trading the price action which means the price action is your guide. Remember; news does not move the price, traders do and it is the traders who are directly making the price action that you are trading. That is important to recognise because as price action traders we have a direct insight into the behavior of what the market is doing.
You are better of spending your time trying to make your trading edge more consistent than looking at the news because you will still have losing trades regardless of what you do, but watching the news will not help this in anyway, shape or form. When the news comes out it is already priced into the market and a heck of a lot of the time price goes the opposite way to the announcement than it should because trades push price and not the news.
With your edge the idea is to make money over the period regardless of what happens and yes you will have losses, but if you have an edge on the market, then you will end up making profits and money.
Safe trading,
Johnathon
Heya Jamie,
I understand your Fibo on the daily, but for it to be in play in this pair we would have had to use it two weeks ago. Price has moved away from the 61.8 level and it is time to look for new setups.
The next thing I would super dooper highly encourage is getting rid of using the fibo for extensions for profit targets. I know this can be very tempting and can throw up some juicy risk reward numbers, but concentrate on the price action and what price is telling you.
Over time the market teaches all of us to not get wrapped up in any one trade and to never think that a trade looks like a sure trade. The simple fact is we just cannot afford to make these two mistakes for too long so we either listen to the market or continue to pay a heavy price.
There is no trade that is a sure thing. No matter how great the level or trigger signal and no matter how very similar it may look to another setup that formed and was a roaring winner, it can be a losing trade and it pays to trade NEVER over risking on any one setup because of it. All markets are controlled by traders and at any point price can go anywhere at anytime. Nothing is certain in the markets and this is why we trade for an edge and use money management.
[B]No two trades are ever the same[/B] because to have the same signals we would need both markets to be exactly the same. We would need both markets to have the same traders enter the same markets, at exactly the same times and buy exactly the same amounts and hold for exactly the same time and exit selling to exactly the same people which obviously is impossible. Because of this, as I said above; no matter how similar a setup may look to a previous setup, it can still fail.
Safe trading,
Johnathon
Hi Johnathon,
was considering this, but as my S/R was a little bit higher and BUEB closed just below it so I have passed this one.
Still not sure if our S/R is more like zone and not exact line how many pips allow to either side of S/R to consider that PA touched or closed above/below S/R?
Took this trade today playing from the 4hour charts.
daily isnāt closed yet either so you have time to check it out.
as you say Jamie daily bar not yet closed and all sorts of crap if you look to the left, might be time to let this bus go and catch the next one.
that crap to the left looks like a strong resistance level with a false break followed by a 50% retrace.
you could be right Jamie,higher lows though over a period just not keen but you never know do you
Hi there,
first of all, this is a really nice thread! Better than all those books out there 
, so thanks for that.
@ Jonathon, or anybody else who has an answer:
I have two questions about two charts that were posted on page 10:
in this picture the red arrow is marking a 2BR, right? But as we see you shouldnāt have got long there.
My question is, how can I see this in the first place, cause the 2 bar pin bar sticks out, closes inside of the prior bar and is located above a resistance level, so it seems to be a swing low.
If you do some candlestick math with the last three candles in the second picture, a pin bar will evolve as well.
My question is: would this be a tradeable long signal ( like a 3bar reversal or so?
Thank you guys 
In the 1st picture I think you will see that the 2nd candle just didnāt close particularly strongly, i.e above the 1st candle.
In the 2nd picture You wouldnāt really need to blend the candles as you could simply play the last candle as a standalone engulfing bar.
So if I unterstood correctly, the formation in the first chart was too doji like, so for a valid 2BR the second candle should close slightly above/ below the first candle and in 1/3 of the price in direction of the trend ( is that what you meant by strong close?)
Regards