morning friends,
1000 posts!!
very good!
a lot of thank to dnb and all other participant…
now i’m in holiday, in the other side of the earth: i live in italy, and now i’m in Brasil!
perfect situation to try a different time zone, i.e. now, ny close chart correspond at 18.00 here in brasil, instead of 23.00 in italy: i prefer this time zone, so i can watch end of daily chart just before dinner, and can rewatch it before going to bed, (looking for false asian breakout)!!!
Lucky person!
l hear they are including [B]trading[/B] in the Rio Olympics so you have a head start on us!
Hey guys, what do you think of NZD/JPY for a short?
Well, its in a flat top triangle formation so price could well drop back to the bullish trend line before another attempt to break the 64.40 resistance zone but it hasn’t even taken out the 10ema as yet nor has the day finished. So its wait and see l guess!
completly stumped on all pairs at the moment i cant tell which way things are heading the market seems to have got away and i cant tell whether its going to pull back or just keep going to the moon!
Hi, everyone
I like this IB on EUR/JPY. Personally my bias remind bearish for the time beeing, but since price closed above resistance and today’s IB retested it, I don’t eliminate the posibility of a higher move. Anyway, we are not here to predict the future and the main thing is I will trade this IB the moment it breaks no matter short or long.
What do you guys think? Any thoughts DnB?
Frustrating it is. The GBPAUD trade l highlighted yesterday but decided not to take worked a treat of course!
There are a few breakouts happening and several charts at critical junctures too.
Quite a few charts seem to be tempting me in BUT things aren’t quite at the point where l HAVE to trade just yet! As you say matt, some pairs may fly away BUT some may trap a lot of traders too.l’m holding my nerve and not firing til l see the whites of their eyes!If l miss a trade or two so be it, l won’t actually have lost any capital!
What do you think DnB?
Good spot Evermore, this one slipped my attention.
l like it. The 10ema has crossed the 20ema and price is above the 50sma.The weekly momentum is up with last week printing a bullish engulfing bar. However, l have price just under resistance and of course we have parity at 1.0000 not far above.
However, l like it and if price has the energy to break the high of the A bar we could hit parity and then 101.00
l may take this one…thanks again!
Hey everybody,
This is my first post on the forums. I’m a new trader (only been trying to seriously trade for the past 3 months), and I have basically just been breaking even up to this point. I stumbled upon this thread and it has really changed my perspective on which charts to look at and how I look at them. Now I’m just in the process of practicing and getting used to picking out trade setups. So I was looking at the AUD/USD daily chart just a little while ago and thought that I might have seen a good spot to go long. I was hoping to get some feedback from others to see if I’m anywhere near the right track.
Ok so looking at the daily and weekly charts, I see that this pair is in an uptrend (I drew a green trendline). I also drew a black S/R line (I’m still working on those so forgive me if it’s not perfect). I believe that I see an IB a couple of candles back and now a bullish rejection bar, both right at the support and trendline. Now I would just like some feedback to see what the other traders see in this chart. Any suggestions and/or tips are greatly appreciated. Thanks.
Tom
I cant trade gold
I think some of the breakouts that have occurred over the past couple days just highlight the point that DnB made about trading into S/R. Looking back at a few pairs there were price action signals a few days before the breakout under critical resistance levels. These levels often break!
Looking back I could have taken these trades and if they didn’t break got out at least break even or a small win. This is the mentality i need to take forward so I don’t miss these trades again. Just thought I would share my thoughts. 
I like this IB on EUR/JPY. Personally my bias remind bearish for the time beeing, but since price closed above resistance and today’s IB retested it, I don’t eliminate the posibility of a higher move. Anyway, we are not here to predict the future and the main thing is I will trade this IB the moment it breaks no matter short or long.
I don’t like this one Evermore. I like my Inside Bars to close in the direction of the trend, unless it’s an inside/indecision candle. But if the body is large I want the close to be in my favor. What you could watch out for is a break of the low -> then a market push back up and a break of the high, that would be something I would warrant trading. I personally wouldn’t like to short this market at the moment, as it’s obviously trending up.
This is my first post on the forums. I’m a new trader (only been trying to seriously trade for the past 3 months), and I have basically just been breaking even up to this point. I stumbled upon this thread and it has really changed my perspective on which charts to look at and how I look at them. Now I’m just in the process of practicing and getting used to picking out trade setups. So I was looking at the AUD/USD daily chart just a little while ago and thought that I might have seen a good spot to go long. I was hoping to get some feedback from others to see if I’m anywhere near the right track.
Ok so looking at the daily and weekly charts, I see that this pair is in an uptrend (I drew a green trendline). I also drew a black S/R line (I’m still working on those so forgive me if it’s not perfect). I believe that I see an IB a couple of candles back and now a bullish rejection bar, both right at the support and trendline. Now I would just like some feedback to see what the other traders see in this chart. Any suggestions and/or tips are greatly appreciated. Thanks.
Welcome to our Price Action thread, I hope you enjoy your stay 
At the time you were looking at the chart this signal looked alright, however there has been an Asian false break of the highs early in this session, and now price is falling back in on itself as London approaches. This is a huge warning sign for us Daily PA traders here as Asian sessions breaks have no oomph behind.
So if anything I am expecting this one to drop.
Anyone looking at Gold?
It’s good to see gold finally been moving, I’ve been waiting for this market to break form consolidation. I’ll be looking for long signals after price corrections to the mean value.
I think some of the breakouts that have occurred over the past couple days just highlight the point that DnB made about trading into S/R. Looking back at a few pairs there were price action signals a few days before the breakout under critical resistance levels. These levels often break!
Looking back I could have taken these trades and if they didn’t break got out at least break even or a small win. This is the mentality i need to take forward so I don’t miss these trades again. Just thought I would share my thoughts.
Trading into S/R doesn’t concern me as long as there is a nice trend in place backed by a nice signal. My theory is if there is a trend in place, HH & HLs or LH & LL’s being made so S/R is continously going to be broken while the trend is in motions. Things like double touches of important daily levels with the second touch failing, (double tops) are one way to tell if the trend has lost it’s steam or the market is going to go into a range before continuing.
hello,
gbpusd has broke resistance,so its good to take direct breakout directly or wait for pullback to take trade. which is one is best.comments please.
I think if you jump in now you’re already too late for the train, imho.
Better wait for a retracement of the move and further development. Next week events are very important and can change the direction of the bias.
gbpusd has broke resistance,so its good to take direct breakout directly or wait for pullback to take trade. which is one is best.comments please.
I think if you jump in now you’re already too late for the train, imho.
Better wait for a retracement of the move and further development. Next week events are very important and can change the direction of the bias.
Couldn’t have said it better myself. That train has left the staition, you have to wait for the next train to arrive before you can board the next rally. Wait for price to correct first, then wait for a bullish signal.
Sorry to repeat myself Kimonz and l am not trying to be negative but l can’t see the point of posts like this unless you give YOUR reasons for looking at gold so we can see your thinking process and make comments/learn from you/ add our insights etc. You have to put something in to get something out.l realise you may be busy/using a mobile to post etc and just throwing stuff out but its best to post things you have considered yourself first imho.
[I]I like this IB on EUR/JPY. Personally my bias remind bearish for the time beeing, but since price closed above resistance and today’s IB retested it, I don’t eliminate the posibility of a higher move. Anyway, we are not here to predict the future and the main thing is I will trade this IB the moment it breaks no matter short or long.[/I]
[B]I don’t like this one Evermore. I like my Inside Bars to close in the direction of the trend, unless it’s an inside/indecision candle. But if the body is large I want the close to be in my favor. What you could watch out for is a break of the low -> then a market push back up and a break of the high, that would be something I would warrant trading. I personally wouldn’t like to short this market at the moment, as it’s obviously trending up.[/B]
Hi DnB…l like your take on this situation.One approach l sometimes take with situations like this, if l am around the following day, is to look at 4hr chart at candle close times to see if there is any significant set-up like a Pin Bar which would add some confirmation to the daily signal and get you in early with a smaller risk. What do think?
Thanks,
Michael.
Gold broke off the top of a triangle after consolidating there another resistance level at 1675 not sure how it will react there… Was just checking if others are trading gold and if they are seeing what I saw?
Hi DnB…l like your take on this situation.One approach l sometimes take with situations like this, if l am around the following day, is to look at 4hr chart at candle close times to see if there is any significant set-up like a Pin Bar which would add some confirmation to the daily signal and get you in early with a smaller risk. What do think?
I don’t look at the 4 hour too much, With Inside bars on the daily chart the h4 would generally looks like a mess of congestion, that’s the whole point of Inside bars, consolidation breakouts.
Gold broke off the top of a triangle after consolidating there another resistance level at 1675 not sure how it will react there… Was just checking if others are trading gold and if they are seeing what I saw?
Yeah it’s good to see gold has broken out, it’s been consolidating for months. But the longer the consolidation the bigger the breakout, hopefully we see a strong trend develop with gold now.