Not bad teaching here but nakitiafx you need to look a littler deeper there are more significant s/r levels here I dont know how to edit you charts but still not bad. People need to understand S/R levels do only come on swing highs and lows (previous support becomes resistance) look through the middle of swing high and lows you will find other important areas of S/R
especially if you scrolled out the chart a little more. What I mean by that is all yuor charts have 31 candles assuming you are looking at a daily chart (dont really matter on the what chart you are looking at.) you need to look at a bigger picture I.E. try to look at 120 - 180 bars to get S/R levels at a minimum and scroll i from there you might have done that but you are not showing a bigger picture here. I had to look at my charts to see what you were talking about also another note try to find a broker with a 5 candle daily chart for the week (with 5 bars for the week on ny close) give you alot more accurate look at the market just my 2 cents
Thank you bobmaninc…
I have only been trading for 3 years and consistently profitable for less then a year.
I am still learning new things as I go.
Would you be kind enough to recommend a broker who does have 5 candles per week?
I understand what you said. I use both MT4 charts and Trade Station charts.
On the Day Time frame, both candles are so different because the candle opening and closing times are different for both the charts…It had me wondering on what would be the ideal candle closing time…At the moment im still using the MT4 chartts for entries.
I would be more than happy to learn what you have to share bobmaninc.
To make more money???
GU D Chart…on the assumption yesterday was a buy so today is a buy. ( Dont take it literally ). Monday was a buy so ideally I would look for a buy situation on H1 chart. They yellow arrow shows where I bought.
So I bought early morning because I saw AU shooting up and I thought its going to be a strong up from Asian session today. Big mistake. I bought at where the Yellow arrow starts and I had to hold for retracement up to 80 pips. I hate it when a trade goes more than 30 pips against me. Position was 10% risk. So 80 pips against is a real emotional roller coaster. But I held even when it went against as much as 80 plus pips because I know direction is still up. ( Cant be too ****y though cause this is forex and anything can happen. )
This is another area im trying to work on. We buy low and sell high. A trade like the GU above is such a waste because it dropped 80 pips from entry before going up another 40. Imagine if I had hit the buy 50 or 60 pips lower…my take home would have been 90 to 100 pips.
So its such a waste that so many pips were not collected even though I got the direction right. Ill try to sort that out.
AU D TF. I bought AU at about 4 am GMT + 8 I think because I knew it was an up even before the candle closed for the day.
This is AU H1 TF. Yellow marks my entry. Since AU moves heavily during the Asian session, and I am sleeping too late, I thought it would be wise to buy before candle closed. So I entered and went to bed.
Got up at 9.30 am GMT + 8 and AU was already 30 ++ pips at 10% risk.
Saw GU doing a nice up so I whacked that with another 10% risk and decided to hold. GU went up a total of about 10 pips before doing a big U turn and falling against me 80 odd pips.
It was gut wrenching to see both positions at minus at a time.
This is where direction or bias is very very important. Held on tight and I still managed to cut off both positions on the american market session with AU at 70 pips and GU at 40 pips.
Had I held AU for another two hours I would have hit another 10 more pips to hit twice my daily target of 60 pips average.
But then one of the lessons u learn early on in forex is dont be GREEDY.
Sharebazar, pay attention to how the Monday AU candle closed. Look at that candle pattern. Imagine how the sellers were overcome by the buyers before candle closing time. If buyers ended up stronger as the candle ended, dont you think it would be logical to say that Tuesday would be a buyers day? Just as well as the price did shoot up.
Do you see how it works??..Pick one or two currency pairs and pay attention to it closely.
I hope that helps.
happy pipping.
Thanks for your suggestion, I will definately look for the candle in the daily chart,I am trying to concentrate on gbp/usd pair, but I still looking to eur/usd and aus/usd. I have a question , when Market close on Friday and we know daily candlestick is close down, when you will enter trade on monday.most of the time Market open on monday and price goes up, but it goes down may be after halfway through the day.
A true 5 day chart should only have 5 bars for the week on the daily and close with the NY close. Meaning it does not count Sunday as a day since it is actually Monday in NZ. If a chart does not close its daily candle with the NY close then it is not an accurate chart and will give you false signals. I trade with Etoro with accucharts software. There demo is free and does not expire as long as you use it. Non of that free for 30 or 90 day crap.
Now if I may offer some advice on your trades here. Your first chart GBP/USD daily looks like a valid entry with the 2 pin bars forming. But if you dropped to a one hour to make your entry (your second chart) I dont see anything validating your entry that pin bar looked to hit the dynamic resistance that looks like you found (your dotted line) and was rejected creating a bearish pin bar meaning price is heading down. The double bullish pin bars that came later would have validated your entry and price shot to the moon intill it hit and rejected off resistance thats when I would have cut out. On a side note pound dollar looks to be on a down trend retracing you around the 1.6050-1.6100 area. I would only make short trade around that area as of now till then I will sit on my hands and watch.
Your AUD/USD looks to be valid with a nice little fakey set up as price broke through support and then rejecting back up above to close the trading day on Monday great catch I would like to see that pin a little longer but looks like a winner to me. Still dont see what justified you entry on the 1 HR you got for the last chart. Honestly looks like you missed the boat a few hours ago but I dont trade the 1 HR very often. Assuming you take profit is the red line. I think I would watch it closely when it starts to get close. Seems like this trade might take a while to hit you TP as you should see a retracement on that 1 hr shortly but dont panic I think she has a little more steam to go north. Honestly I would take a look at the consolidation point just a little lower right before the big black bar heading up. Remember support turn resistance. I would keep an eye on that area price might see rejection there. Again price seems to wanting to start a down trend so be careful going long. But all in all thats text book PA trading right there great job. Provided it dont turn south at the minor spot of resistance you tp should be hit with no problem
Not to sure I understand what you are asking here. Honestly I dont like to enter trades on fridays or mondays but I will. Those are the time with the least amount of volatility generally speaking earthquakes and such dont happen over the weekend.
Sharebazar becareful on mondays and fridays. Mondays are the start of the new weekly candle. So sentiments might be different from the previous week. It might also retrace before going on the way of market bias.
Fridays are also like that. Especially first week Fridays.
Again these are guidelines…there are no hard and fast rules to it.
The most important part is trying to find valid entries with SL. If you are a trader that has a trade plan and you keep taking say 30 or 50 pips per trade, then you would find my way of trading attractive.
It doesnt matter what day it is, the most important is valid entries.
Thank you for your analysis bobmaninc.
As I pointed out earlier, Im still working out my H1 entries. I find that I am not yet that calm to be able to look at the candles and make very valid trade judgement on a fast moving H1 chart.
Ill try to work on that part and ask you more questions as I come across them.
I am aware of what you are saying by be careful on going Long on USD pairs as the long term outlook might be a short. I only hold trades for a max of 100 pips. My daily take or per trade take is 60. Unless I see a very valid and confident set up I dont hold over night.
The other thing that I do often is move my SL to BE+ a few pips as soon as it crosses 40 pips on trades where I dont see where is the direction going to be. It rarely hits my SL after it crosses that point. If it hits then I take it as a free shot at making a few pips.
Was another great buy on EU today. Im out for the day.
Im planning to try out the charts from the broker you mentioned earlier and try to set my candle closing time for NY market close time and see how the chart looks.
I hope you have a great weekend.
Happy Pipping.
Nikita hope you stayed in the aussie trade it was text book and my analysis was correct if you are still in and live happy pipin I knew it was a good trade but not that good only wish I would have taken it now. heck even if you cashed out you still should have made profits and nice profits at that. Is now looking like it is hitting resistance but with the steam backing it I would just trail up the stop loss sit back and watch the account grow. I just love when a plan comes together. Have a great weekend
250 was all I could hold for bobmaninc…one of the highest pip collected for me personally. 
Became too weak and not confident especially when I consider 100 pip move a windfall trade.
I took it after I added lots on an EJ trade right after the USD news yesterday and had 70 pips on that.
Decided I had a good week and I shouldnt be greedy.
Lets wait for Monday and see what the Charts tell us.
Have a great weekend
Happy Pipping to all.
250 is nice I wish I would have taken it I did see it set up but like I said before Iwas looking to go short so obviously I didnt get a signal to get in witch was a good thing or I would have given you those 250 pips good trading have a great weekend. I agree on not getting to greedy or you will give it back.
Still learning to trust my trade entries bobmaninc…
I wish I had let the whole fullsize position to go 250.
I took most on that day itself and let about 3% run…
Still learning.
Had the full lot sizes hit 250 I would have been a very very happy trader for this weekend.
Lets see what I can learn next week.
Good weekend to you.
UCHF
Was not paying attention to UCHF that much because it was just sliding south and I was expecting it to retrace back up.
Again this is a classic case of thinking what it will do instead of watching what it would do.
I like UCHF for the same reason I like GJ and EJ. Pay out is higher compared to USD pairs.
What I like about UCHF more is it does not do violent swings on H1 chart like GJ and to a lesser extent EJ. Its a much more predictable and profitable currency pair to trade.
I didnt want to post the charts of UCHF earlier because I didnt take the trade and I was lazy. But looking at what it has done, I thought it would be a good chart to post for those who are learning so here it goes.
That is the D TF chart. See what I mean by it sliding down endlessly?
Then See what happened on Wednesday ( the arrow marks the Wednesday candle ), which in itself was not much of an event because if you pay attention closely it has been doing that for nearly a week or more. Fall then pull back up. Fall again next day then pull back again.
This was the reason why I decided not to pay attention to UCHF for the time being until it does something and gets out of this rut. That and because I was having fun with EJ, EU, GU and AU this week.
Then watch what happened on Thursday ( candle marked with a tick) . For those who follow candlesticks, you would be very excited for Friday.( :mad: I WAS NOT WATCHING THURSDAY!:mad: ) Again same rule, Buy yesterday? so its a buy today. ( Warning again and again, dont take what I say too literally in regards to this statement. )
Forgive me for using such a crude marker on the charts. Was too lazy to make it look nice.
Now you would ideally look for a buy on Friday. Slap in a nice SL and you would have had a great classic PA trade. The boxed area would have been the buy zone. Ideally the most valid by hour would have been the next hour after where the vertical blue line on your left cuts. But buying anywhere inside the boxed area would be good.
I am still learning how to pick very precise entries on H1 as I feel it still whiplashes abit and not necessarily folow candle patterns all the time.
Remember, the smaller the TF, the more false entries or signals will be generated.
Sharebazar, try to go back to your MT4 chart and see what I am trying to say.
The trick is not to try to look for entries that you dont know what its going to do.
Its to hit max on trades that you know for sure. Pure price action trading can give you very accurate trades, but the key is you must have patience to wait, wait and wait some more for the price to form the patterns before you pull the trigger.
This is another reason I like to trade PA without indicators. You dont have to make too many judgement calls based on so many indicators and indicator windows and have a SL and wish for the best. ( not to say there are no traders making a killing with indicators. It just does not suit my style of trading. )
Have a great weekend and happy pipping.
Cant wait for Monday.
I managed to bring in 30+ pips on that my chart looks different then yours that huge move north has a tail on top of mine so I went short. Figured sine the trend is down thats a good entry cue. But I moves my stop to take profit I set it a little to tight and got taken out or else I could have pulled a few more pips out of it. I like those trades when I see a massive move like that with no real reason for it. I will wait for it to top out then trade in the other direction. The market will usally correct itself. Thats what I call a flip flop trade. Dont happen very often but can bring in some big returns. 30 pips is a good trade to me. We cant bring in 250 on every trade now OR CAN WE ?
UCHF D TF
Thursday was a buy, so Friday is a buy. Easy entries on H1. Did give about 60+ pips. I did not take UCHF today though because I was on EU.
Its not a good idea to trade pairs like UCHF and EU or GU where one is a sell and another is a buy. Chances are if prices go against you, especially if its a USD move, then both entries will be a loss. Its called correlation. It doesnt always work that way because some moves are also caused by CHF and Euro or Pound. With that being said dont tempt fate. Pick one at a time.
But I did have some other trades.
EU D TF Chart. Do you see the candle that is being pointed by the arrow??..yesterdays candle closed in that pattern. Had a strong feeling that it will drop. I would have liked for a small bear candle formed today so I could confidently sell on Monday.
But as usual, I didnt want to miss the chance on a few pips. So being greedy I did take a short.
EU H1 TF
I sold after the candle closed to form somewhat of a Doji or some other thing. Too lazy to look up the name for that candle. Had to go out for a while so I left it without a SL because I was confident it will fall because of market bias on D TF.
Came back nearly an hour and a half later and position was still in minus from the entry.
Decided to take a screen shot for you guys.
EU H1 TF
I cut it off at 45 pips. I would love to hold it longer especially when I think this candle has to end as a bear candle and Monday will be a short also.
But I dont hold trades over the weekends or even overnight without a very very good reason. So decided to take the 45 it gave. Got only 43.8 when it finally closed!.
That, couple with a GU trade and a 10 pip trade on AU,( 10 pips on AU so total take for today can be 100 ) I have had a very good Friday.
I hope the charts help.
Have a great weekend and
Happy Pipping.
Hi everybody I hope and wish that everybody makes money, lots of money and help others to make money,just finished my candle stick course, everyday watching the market mostly weekly and day candle. do you guys follow or have any trading plan if so what should I have in my trading plan please advice. thank you in advance.
happy and profitable trading…
Hi sharebazar Im new to trading as well, I just joined a signals/educational service I hope it goes well il let you know how I like it.
Hi Keith89 nice to hear from you, please let me know when you get time.I am trying really hard to concentrate on the chart, how the Market is moving, and also getting very good advice from the other member of the forum.
Have a nice weekend all…
Hi sharebazar
I guess im not allowed to talk about other services on these forums iv been warned 
so I guess if you want to hear about the signal service im in il have to find another way of communication.