Price Action, Candlesticks, and the Story They Tell

I think i’m not following you… at all! 3 days cos i’m in that trade for 3 days :slight_smile:

cheers

I just started reading this thread a few days ago. I’m back on page 15!
But I got myself into NzdUsd yesterday after the pinbar. I’m up +60 pips, and I don’t have an exit strategy.
What is the strategy for setting targets?
Thanks.

My 1st PT would be the same lenght of pinbar. Then i’ll move my stop to BE or a few pips higher.

After that i’ll let it ride and always trailing my stop with the higher lows and higher highs created.

That’s my strategy ;).

Cheers

I’ve never trailed my stop before. I like it!
Thanks

Seems like we’l be havin good setups this upcoming week.

I’m looking at few pair’s.

AUDCHF


EURUSD
This pair is over extended from the MA’s, So i’d be looking for it to correct back to MA before triggering a long position.


Hmm… am getting prepared for a nice breakfast of pipssssssss! :7

I just started reading this thread a few days ago. I’m back on page 15!
But I got myself into NzdUsd yesterday after the pinbar. I’m up +60 pips, and I don’t have an exit strategy.
What is the strategy for setting targets?
Thanks.

Just start off by setting targets that are double the size of your stop loss, 1:2 risk reward. Once you get more comfortable then you can start increasing.

EURUSD
This pair is over extended from the MA’s, So i’d be looking for it to correct back to MA before triggering a long position.

Sounds like a good plan, that EURUSD trade was a nice east 230 pips for me. I’ve exited due to the over extension.

How many setups do you guys get ? As most of the times market’s are ranging, how do you cope up with the ranging scenarios. ?

Generally I stay out of ranges and go for the trending markets. I won’t trade ranging markets unless it’s in an obvious range, some people confuse choppy consolidation for ranges and get burnt on them. It’s best to stick with trends at least you’ve got direction behind you.

Did anyone enter AUDCHF short ?

Did anyone enter AUDCHF short ?

I am short AUDJPY, across the board the AUD looks weak. It will be interesting to see how EURUSD closes at the end of this session, after that sudden surge up there will most likely be a decent correctional move down.

What’s everybody else trading?

I’m looking at EU. As gs88 posted, it has to correct back to the MA. Looking for a nice opportunity to short.

How do you see that AUDJPY is a better pair to short than AUDCHF ?

How do you see that AUDJPY is a better pair to short than AUDCHF ?

I didn’t say that it was better, they are both good signals. Just with the CHF piking up with activity as of late I thought I would just stick with AJ, I shouldn’t do that though I like to keep my chart analysis strictly to the chart that I am looking at. But they are both valid signals.

hi dnb,
how to know which currency is strong and weak?

how to know which currency is strong and weak?

Hi vasude, I just said the AUD is looking weak, because when I flicked through all the AUD pairs they all had sell signals or the chart looked like it wanted to drop down. That’s what I meant.

If I opened up all the EUR pairs and the all had sell signals on them, then you could say the EUR is looking weak.

I hope that answers your question :slight_smile:

Hi guys, am short on both AUDCHF and AUDJPY since the open of the markets today, looking to take profit at the red pivots indicated for a reward twice my risk. does that sound like a good idea? :slight_smile:



I’m short USD/chf.

Isn’t that too risky, thought you would have waited for a pull back to the emas after the previous long candle, and then a price action to confirm down trend continuation! or am I wrong?


Hi all, l’m back (must go back thro the thread to see what l’ve missed!) and looking at GBPAUD…



Price is in a strong uptrend and bouncing off the 10 with an IB - we just missed this pair as it took off remember. There is a bearish PB on the weekly but last time it produced a similar bar price continued on another 500 pips!
Comments welcome!