Forex Price Action

hi… a trade from my thoughts. :57:


Hello everyone!!

I have decided to join BP for the sole reason of becoming an active contributor to this thread. I have been studying this method for about a month now and have read every post from page 1 to page 304 of this particular thread. It is a lot of reading but I must tell you guys that I am glad I found this. I have been interested in forex trading for around two years and have had many demo accounts with different brokers. I have chosen not to go live during those two years because I am not consistently profitable yet. I, like many here, struggled with indicator overload and M5 scalping methods for a long time. Not anymore!!

I’d like to say first and foremost, thanks to Johnathon, bhops, dudest and all the other regulars on this thread for such a great explanation what we are trying to do with PA here. It’s great to see so many other traders helping each other. I am looking forward to becoming active here and not lurking anymore :slight_smile:

P.S. @Johnathon, I actually took that USD/CAD daily signal you posted up on the last page on my demo acct before I jumped to the last page in here and saw that you commented on it. Feels pretty cool to see that I have learned enough to see the same things you guys are seeing.

Don’t forget its "non farm payroll "tomorrow guys, don’t let it catch you out :58:

NZD/CAD is coming up to a VBRN (0.9000) Might be worth keep an eye on?

Interesting chart that actually Niblib ,if we look at the 1hr chart (not really what we talk about on this tread I know) is that a pin was formed at around 0.90240 and now we have a retest of that level and we are in a down trend (hourly at least)so may go south from there, but as you say vbrn lower down so prob a bit dodgy and as I mentioned non farm payroll in a while. Even if we don’t take trades its all good chart time and can only add to our learning. Happy trading. .

Did anyone take this pin from the GBP/JPY daily? I thought about it after it formed but got scared off by all the traffic below and some psychological levels nearby that might have choked the trade as price fell.


No sir but all GBP pairs have been in a downfall for the most part. I’m still in my GBPNZD that I stated a while back. (since 1.9950 8/6/14)

Sorry at work can’t post charts. :frowning:

Another week of trading is coming to a close. To every trader on this thread , have a great week-nd and will do it again next week, i am done for the week.:13:

Hello everyone :slight_smile: Been keeping up with the thread silently while practicing on demo for a year now and it has been quite a profitable run.
Would like opinions on whether is my trading plan heading towards the right direction and is there anything else important I should take note of ?

  1. Search Daily charts for a down/up trend
  2. Search for relevant Support/Resistance zones (If there is a trend)
  3. Mark important S/R lvls (BRN)
  4. Search for the three candlesticks begin (PinBar, Double Reversal or Bullish/Bearish Engulfing)
  5. Risk of 3% per trade. (usually get none or at most 2 trades a week)

And practice practice practice, good luck.

I did. After TP1 hit @171.153 moved my SL to BE.

If you had this plan on demo and it worked than everything is fine. Are you going to trade when market will be ranging? Remember traffic, that sometimes could be the issue. Also I think there are some plans in the links on the beginning of this thread. Good luck!

No I do not trade traffics since they scare me :stuck_out_tongue:
I rather live for another day then to gamble it out . Oh , thanks . I’ll check it out

need some quick advice here, i have two position open on this trend atm.
the markets have just opened with a large gap down in the direction of the trend.
should i hold or close these trades, i have very limited knowleage of gaps atm, and currently researching them as we speak lol.

first time i’ve rly help position over the weekend so haven’t had any dealing with gaps.

Hey Jamie,

I would close this trade and take profit because in the most cases of gaps that I know, the gap is like a peak and the ‘window’ that was created by the gap will likely be closed by a pullback and after that the trend may resume. That’s what I’m assuming but I’m no expert either.
So you have the option of taking profit or if you’re used to holding on over longer terms you could move SL to breakeven, wait for the pullback (which often stops where the gap openend) and the trend to go on downwards.

Beste Grüße

Hi Jamie,

I agree with Mass Krug. I would close it.

While I’m no expert either, from my experience, gaps tend to close. Although that gap is massive, so anything could happen in the hundred or so pips back up. It will depend on your risk appetite and trading personality.

good luck,

cheers guys, i did infact close and counter traded the gap.
woke up to a break even trade unfortunatly : (

Hey Guys,

just found a setup on EUR CAD H1. I think technically it is a pin Bar, but a bit small, did not take it. Can you tell me if you are seeing the same, cause i cannot find out if my broker (Admiral Markets) NY Close Charts.


I think there’s also something developing on EURGBP H1


Like to hear your opinions :wink:

Grüße

Hey TheTrend, I do not see a valid pin bar on my charts. The candle you point to on your charts isn’t technically a pin bar because it doesn’t close within the previous bar (at least on my charts and I can’t really tell where that candle closed on the charts you posted). Also, even if the candle was a valid pin it wouldn’t scream at me that price was about to fall. It’s just not big enough for me to take. Good call IMHO not taking that one. That being said, I’m still working on the daily charts and getting used to looking for PA signals myself. It looks to me like you are using NY close charts because my charts do look very similar to yours and I am using NY close.

what I see on EURGBP is a bearish pinbar forming on h4 at significant level, check that out :slight_smile: