Price Action, Candlesticks, and the Story They Tell

Good day DNB;

First of all great thread, many pieces of great trading knowledge can be found here.

I was wondering would you recommend a strategy such as yours for someone that is working full time? Eastern Time Zone.
What are your thoughts in this?

Cheers

Eur/gbp


eur/aud


Hey Evermore, Doesnā€™t look like your chart has the huge gap on EUR/GBP?

Hello,

This is possible setup on EUR/AUDā€¦


and the second on EUR/GBP:
http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action-158.html#post360094

What do u think?

Hi, benjam1n

I have it on the 4h, dunno why is not visible on daily.

This is the only thing I could really spot worth noting at the moment. Inside Bar on UJ at resistance, itā€™s already breaking down.


I was wondering would you recommend a strategy such as yours for someone that is working full time? Eastern Time Zone.
What are your thoughts in this?

This is the perfect way for someone to trade working full time, youā€™re trading off Daily candles so you only have to check once a day. Just set your pending orders and off you go, what time is NY close for you?

Have any of you ever considered or used ATR along with this method for SLā€™s or TPā€™s? I like the idea of it and how it could act as a dynamic SL/TP.

Absolutely not, I hate indicators. I donā€™t need an indicator to assist me with stop or target placements the chart is right in front of me, I can visually identify the best places for my stop loss :stuck_out_tongue:

I think indicators should be killed with fire lol

Iā€™d love to hear about an average day in your life DnB!

Killed with fire! Lol

Try to use the NY close for your candles. The setup looks good to me. What do you say DnB?

Does anybody think this inside bar on the USD/JPY have potential?


DnB, have you guys traded or trade managed accounts?

Hi smoothtrader

I do like that UJ setup, I posted about it a few posts before you jumped in. Although I donā€™t like the real early Asian break makes the setup look bad, these early asian trade triggers never turn out too wellā€¦

I dont like that EURAUD trade. Here is my chart below


This chart looks bearish to me, also the conditions look choppy, Iā€™ll wait for that level to break and then start looking at short signals. Yeah sorry when I look at that chart I donā€™t wanna click the buy button, I also donā€™t want to sell yet because of support below and fact price is located away from the mean value at the moment.

DnB, have you guys traded or trade managed accounts?

Oh nothing serious, I am playing around on a website called Zulutrade at the moment, ever heard of it? Have you got a couple of million there you want me to manage for you? We can come to some sort of arrangement :stuck_out_tongue:

My EUR / AUD chart looks a lot different from yours.

About the millions, Iā€™ll tell you later, LOL. Iā€™ve heard of Zulutrade, but never understood what is it about.

So how do you adjust for that?

Are you sure that u have NY close?

Hey Dnb, why donā€™t you take in consideration this BIG pin bar with bearish close on EUR/GBP?
Seems good to meā€¦ But Iā€™m a newbie LOL


So how do you adjust for that?

You donā€™t trade early Asian Breakouts.

Hey Dnb, why donā€™t you take in consideration this BIG pin bar with bearish close on EUR/GBP?

It could work out, but that market is going sideways, until it starts moving again I am not going to trade it. It does look like a monster signal.

So itā€™s mean that when it break again in London or NY u will enter ?

I dont get it, so the NY closed daily candle is a perfect inside bar, when do you take the position?

@DnB

How many trades do you have a week?