Hey guys, we forgot to talk about this usdjpy preice squeeze broken.
Are we late to the party?
DnB, as for your method, how do you enter on these patterns?
I usually wait for a candle stick signal,
In this case the trend was down so I was only interested in bearish breaks, there was an inside bar that you could of traded.
I didnât trade this one as I already had other trades open.
But the inside bar is also inside the trangle and as for your course we must wait for the break of the compression pattern donât we?
Is correct to enter on the breakout of the low of yesterdayâs candle (the 1st red candle outside the pattern) and place a SL over the high of yesterday?
PS: amazing AUDJPY and AUDUSD :35:
Good question lucariga,
the safer approach is to wait for a close outside the consolidation pattern, but in this case the inside bar was really wedged into the extreme end of the pattern, as you have even marked out yourself, so really there was no where else to go - a breakout was inevitable. By entering with bearish momentum as price broke down under the inside bar, you would be trading the breakout of the consolidation pattern and the inside bar. You would also be trading in line with the trend and close to mean value.
If there was no candle stick signal there, then yeah it would of be a slightly high risk just to trade the breakout on itâs own.
AUDUSD & AUDJPY are on fire. Unfortunately the GBP is dieing quicker than the EUR so the EURGBP trade is suffering 
True, am i correct assuming that atm EUR and GBP are way weak compared to USD and JPY, so itâs better to go for EURJPY rather EURGBP ?
P.S - Closed my EURGBP trade with only 60 pipsâŚbeen hlding it for a week now and upon that price seems to be so stalled.
Hi, what do you guys think about Pinbar on NZDUSD 4 hour charts? I personally think itâs a valid Pinbar and the price already making higher lows.
Hi, payahbleh.
Iâm gonna try to respond the way I think DnB would.
DISCLAIMER: Iâd like to say this is not trading advice, meaning nobody here will tell you when to enter or exit a trade. We are just a bunch of guys discusing our views on the market, based on a specific way of trading which is Price Action (PA).
As far as I know we almost never look at a 4H chart, specially if you are new to this (believe me, I blew out two accounts before I understood the importance of this seemingly irrelevant rule). Thus, there is no need to look at lower charts since daily charts provide plenty of opportunities. I humbly suggest that you review the charts DnB have shared in previous posts, so you can grasp the main concepts of what we are looking for in a chart.
Happy trading and welcome.
How did I do, DnB?
P. S. DISCLAIMER, LOL.
Hi, what do you guys think about Pinbar on NZDUSD 4 hour charts? I personally think itâs a valid Pinbar and the price already making higher lows.
If I trade the 4 hour charts I always make sure what I am doing lines up with the Daily Chart. You want to take a long position based on a h4 signal, but when you look at the Daily and see that powerful bearish market you should only be looking for selling opportunities.
Countertrend trading from the 4 hour chart is not my style, best to wait at least for signals to form WITH the overall trend.
Evermore,
They donât look too bad, the break of the lows could see prices move down lower. Donât take too many trades at once though.
Also I am out of E/G guys, -15pips no biggie. After that Daily close I thought nah this setup didnât have any bearish follow through so I pulled out. Itâs still valid until the rejection candles highs get broken for those that are still in.
DISCLAIMER: Iâd like to say this is not trading advice, meaning nobody here will tell you when to enter or exit a trade. We are just a bunch of guys discusing our views on the market, based on a specific way of trading which is Price Action (PA).
Thatâs right 
, we are not a signal service. Just Price Action enthusiasts!
SO, whoâs excited about NFP 
I hate to think what is going to happen if the NFP result is bad⌠The GBP has been butchered enough lately, how much more can it take???
Weekends are boring.
Weekends are boring.
The downfall of being a trader, all of a sudden the weekends you looked forward to now arenât so great
I has my eye on the 2 setups you posted up as well Evermore, I must admit youâre definitely a fast learner.
Just threw up a heap of charts on my blog post, feel free to check them out guys⌠>MY LATEST CHART ANALYSIS<
To bring the subject back up of momentum candles, here is a good example of one on the EURGBP, I didnât trade this one because it was counter trend but it still played out nicely and is a good example for educational purposes
Notice how the retrace for the day was low , providing us with a nice area to place our stop.
I am going to be watching this setup when the market opens, If price breaks lower we could see a nice move down.
There are a few other setups floating around, but they are all against the trend , this one is in line with the recent weakness in this particular market, so itâs got a bit of momentum behind it. Price is also closing on the bearish side of the EMAâs. Anyone else watching this one?
I do. Thanks for the support.
DnB, can you give us some advice about brokers? Which are the best for this style of trading and why? Thanks.
BTW, Which one of you is write in the thread? Is it Graham or it is Pierce? LOL
I do. Btw, can you give us some advice on brokers, which ones do you recommend fo this particular style of trading? Which on do you use and why?
Thanks.
Sure,
For Non-US residents I recommend Alpari-UK, theyâve always been good to me, never a problem withdrawing money and never any spread spikes.
They have recently shifted their server to New York Close time, and they also give you the option to trade commodities, not just gold & silver, they have both Crude Oil markets, sugar, corn etcâŚ
For US resident brokers I only hear bad feedback. The one that seems to stand out is FXDD, itâs on NY time and I havenât heard anything bad about them.