a outside bar is formed ,a retracement entry is a better thing… what you guys think about it…
Like the retractment but I would have preferred the outside bar to close more bullish. Also isnt there some pretty significant resistance above? (this is from memory as im at work right now)
Like the retractment but I would have preferred the outside bar to close more bullish. Also isnt there some pretty significant resistance above? (this is from memory as im at work right now)
ok,thanks for your analysis.
hello all,
I wanted to introduce myself. I attempted to try FX a few years ago without sucess. But recently have become interested again.
I have been reading this thread for a while and like the method and the way it can fit around someone who has a day job. The idea of using PA to trade off of daily charts apeals to me.
I thank you all for your contributions to date as it has greatly helped the learning process. Once I get upto date on the thread I hope to be able to throw up some trade ideas. Only reached page 71 so far…
Welcome, Sir !
You are right, dailies are less stressful, less time consuming… but all the same tricky !
Hey guys,
I wanted to give a brief outlook for upcoming week. I’ll be keeping an eye on the following situations:
EURCAD
AUDUSD
Notice the steep bearish TL forming, after the break of a well respected bullish TL and of a strong horizontal level. This pair is showing a good confluence area in the noted area on the chart (TL+Horizontal level+mean value), I’ll be looking for a short opportunity there
have a great Sunday 
I previous pointed out a potential reversal signal on the AUDCHF, however the setup didn’t work out due to the shear weakness of the Australian Dollar. But however and identical setup formed on the USDCHF chart and it played out as expected…
Looking over to check out what’s going on with the Australia Dollar / USD
This market has hit a support line which bulls have shown aggressiveness in the past. Last week almost closed as a bullish outside day, price is at a distance from the mean so as CryAgony has pointed out a chance of a correction is high. We will be looking for and price action sell signals around the mean.
Other 2 pairs to keep a look at:
EURGBP
Notice the high confluence of TL’s and the 2 weeks Pinbar formation. Despite this, playing this setup on its own looks like is leaving a too wide SL, that’s why I’d be looking for a daily continuation signal durign next week(s)
CHFJPY
Neat swing point is showing up, let’s see if Price retrace back and drop a trade opportunity for us
:44:
chfjpy looks a good one to look for - similar to the 85 on usdjpy
Isnt this against the DNB strategy as the MAs are still strongly saying look for longs. I thought counter trend trades were only ok when extended far away from the MAs to catch the regression back to the mean.
Daily charts have been quiet last couple of weeks for the type of PA we trade but don’t get caught into trading for the sake of it. There is a nice bearish engulfing on GBPUSD that I have set orders for on a retractment that I think would also be a good signal for this strategy. Super strong resistance to watch out for at around 5300 though.
l agree with Paddy, you are trading against a strong trend on the EURCAD.It has been pretty overextended in its uptrend recently so you may get another leg down to form a complex pullback or it may just range whilst it chills out for a while after its exertions! They can be hard to trade after being overextended as you can get false breaks up and down.
l’m a little wary of the GBP too as its a little over extended as well. Also, coming up to strong resistance as you say and on the daily are we could be seeing the Three Pushes formation which can signal the end of the present surge i.e look at the last three legs of the trend compared to the previous three; is the trend getting tired?
Personally, l have just taken my first position off in my NZDUSD trade. Playing it as a Flat Top Ascending Triangle which l really like. We are now at the flat top and we could see a breakout this time but l have taken a position off at +71 pips and moved stops up under the four hour ledge formation as it could drop down again and need another run at the big resistance.
Finally, thanks to Vasude for reminding me to pop back and enjoy this great thread again!
Here’s the NZDUSD trade. The magenta lines mark the ledge on the 4hr chart where l added a third position. Previous two entered nearer the TL. Took set-up off the Daily but entered via 4hr charts. Stops now below 4hr ledge. Lets see if R is broken!
hope it does dude looks like it will shoot up if so!
hmm its look a nice retracement entry let see what happen if its retrace or not, that ec pair looks nice with a resistance anyway thanks for reminding me about ma.
thanks
Hey guys,
some good setups being posted in this thread now, seems like everyone is getting the idea of this type of Price Action trading.
The EURCAD candle looks great but no other factors really line up with it which can make things high risk. Like it was mentioned earlier try not to trade because you feel you have to, some times I even need to remind myself of that one, because it’s so easy to pull the trigger.
I’ve been watching a setup on the AUDJPY market this session, it has respected the Inside Day 50% rule and is just about to trigger, we could see a bullish breakout from this double inside day price action setup…
hi dnb,
now eur/usd pulled towards today retracement entry ,its a good chance of moving high ,since key support is line…
