I mean drawing trend lines, fibonacci and highlighting areas of interest and adding text, colouring candles in etc. I am finding Metatrader poor for this, as often text or arrows will not “fix” to the candle I have placed them on but rather the grid behind. This means that text moves from the pattern it is describing and becomes worthless. i hope this helps.
HMM, yea I don’t know, I have always used MT4. You could try taking screen shots of your charts and opening them in paint to add text and arrows and colors and what not?
Hi Reggy, I like to use Google Docs to markup my charts. You can do this easily as follows:
- Use a screenshot tool to snap your chart (free ones I like: Lightscreen Portable for Windows or Shutter for Linux)
- Create a Drawing with free Google Docs
- Import your chartshot
- Markup your chart with vast variety of tools in Drawing program
- Download the image in static PNG format for sharing
Thanks for sharing that, very helpful!
Here is a daily pin bar setup on the USDCAD that I am considering taking long, I don’t typically trade this pair that much but I might jump aboard this signal.
I used to trade pinbars and one thing that was helpful to me was studying how previous pinbars behaved in similar circumstances. From just looking at your picture, I’d say this is a “medium” size pinbar. Also, the typical move is about 2:1, or the length of the pinbar itself in the direction you want (based on entry from 50% retrace).
Yea, I agree, I didn’t get filled yet but I am about to, now there are 2 daily pin bars!
I fail to see the impossibility in your mission. I have a very fine version of what you see here on h1 timeframe dating some time back. In the text and arrows buttons, the [A] things move, but the [T] ones stay put. Sometimes mouse falls short of hanging, and something invariably gets caught and moves: to handle that I have a labeling system (like library) for naming (& description) everything added on the chart to stay. Wouldnt know about changing colour of bar thing though.
PS: wont figure how to upload chart
2 pinbars is even better. The setups that made me uncomfortable were the ones where I’d see a great looking pinbar and then the next bar was a mirror image (in other direction). But 2 or more usually means pressure building…
Yea, I totally agree, the more confirmation via price action setups the better. It’s all about confluence of factors for me.
Well that one never came off to the upside, I never got filled, thankfully!
does anyone in any forum truly understand how to read price action?
A number of traders on here seem to make it work for them so yes, I would say that there are many on here who have a pretty good handle on it. That is the great thing about this site - there is a lot of knowledge on most aspects of Forex trading sloshing around on here.
I have been a price action trader for over 2 years now, it works for me, I trade off the daily / 4hr charts. I can help you if you have any questions, or you can check out Nial Fuller, that’s where I learned.
Check out this huge 4hr USDCAD pin bar, I entered this one on a break of the pin bar low, looking to make 2 times my risk.
TRADE UPDATE: out with 2 times risk, nice pin bar setup trade, awesome.
There are some pretty good pin bar setups out there today, I am noticing the following:
GBPJPY, EURJPY, CADJPY, USDJPY, AUDJPY…these all look like pretty decent price action setups.
I Just wanted to update this thread and let everyone know I have a 3 week winning streak going. I’ve made very decent money every week for the last 3 and it was all from trading simple price action setups. Now it’s time to keep it going.
Well, my 3 week winning streak has ended I think, but still a good run via price action!
mindsetpips, “all good things must come to an end”, or so they say, a 3 week winning streak is good though, I’m sure you were profitable for that month, which is the most important thing, if you can maintain profitability at the end of each month that is all that matters really.