Thanks Alg626
You are the best
literally every night before i go to bed now im like, okay, are there any setups that can make me money in the middle of the night lol
1 Like
Hi guys! I’m new to forex with a few months of experience. Currently, I’m practicing on a demo account. So, on 02 Feb '22 (UTC+8) I took a short position on AUDCAD. The trade didn’t go as I expected, SL was triggered (Entry and SL were a few pips below the low and above the high).
Reason for entry:
A bearish engulfing bar on the daily resistance and an overall downtrend movement.
Why I think it failed?
It might be because of the recent bullish momentum and I was fighting against it. I also think that I marked the daily support and resistance not on the key levels.
While I know that there is nothing certain in trading, I just want to get you guys perspectives on why this trade failed. Thank you!
1 Like
Still posting about your strat? How’s it going?
Hi all,
Just thought I would post a little trade idea some might be interested in. I’ve been following this thread as well as the other by Jonathon Fox and thought I would chime in. Feel free to comment as I’m learning as well.
AUD/CAD is in a long-term downtrend and appears to be testing support turned resistance with a newly formed pin bar on the daily chart. I’m placing a sell stop a few pips below the low of the pin, stop loss at the high of the pin bar and target will be the recent lows at 0.89060 for a 2.5:1 RR.
I understand this thread prefers a pin bar to close within the range of the previous candle but just thought I would post this anyway for a bit of a discussion if nothing else.
Any opinions?
Hi,
If you look at the 4HR chart there is a short-term uptrend and it has broken a good resistance area. I think I would enter a long position if there is a pullback and good price action at 0.90600 and exit at 0.91300 before entering a short position on the daily chart. I’m still learning and I might be wrong here. I would love to hear your opinions.
Attempt at a 4HR trade.
USDCAD.
Seems to be on the edge of a range.
Seems to be a Lower High, and forming tight / small bars.
Breakout?
If to the downside, I have marked an area for profit taking.
Hey thanks for the reply. I think your setup was perfectly logical on the 4 hour timeframe and it clearly made a good move up today so maybe some pips could have been bagged! In general though from what i’ve read, the levels on the daily timeframe hold more weight than the levels on the lower timeframes. Looks like price formed an even bigger pin bar today! Second time lucky 
Hello trading crazy men :)))
I have 2 out of many trade setups here, anyone interested please join me!!!
EURUSD
GBPCHF
Hey guys! I found a setup on the GBPJPY 4HR chart. A 2 bar reversal has formed on the 4HR support area along with the recent uptrend movement.
I have a different idea on the USDJPY pair. I think the pair is still in an uptrend and it might not be a good idea to fight against the trend. You can see my setup below. I might be wrong here. What do you think?
@WrinkleDude
Well, i’m viewing it in frame D1. Maybe your idea is right in the short term or I will be wrong lol :)))).
I saw the false breakout and the price came back, forming 2 reversal bars.
Hello! It can be tricky to sell as daily is making potential HLs. But of course its just my personal idea. Im new in this thread. Soon I`m going to share also my setups. My trading setup is mainly looking for daily & 4H structure (trend), then checking the left for clean traffic again the same TFs. At least what I have backtested till now
Hi guys,
USDJPY, GBPAUD seems to go according to my plan.
1 Like
Price made a pullback to the daily support and it has now move higher past the daily resistance. I’m now waiting for price to make a pullback on the resistance area and if there is a good price action I would enter a long.
Hey guys, just want to make a quick update. So, the USDJPY went lower and I got stopped out.
What I did wrong?
I failed to see that price has broken the daily support. When price broke the daily support I should have expected it to be a new resistance and wait for a retracement on that area. So, price did retrace back to that area and formed a pin bar before going lower.
Lesson
I need to pay attention to what the price has done and is doing. Don’t just make an entry if there is a setup and try to see the bigger picture first.
Hi friend,
Let’s start with d1 framework, it will be clearer.
