[B]Reported[/B]
And to clarify that would be 10 years of experience using price action in options, and 6 months using it in Forex.
Hey crust, in my opinion that would be a trade you definetly wouldn’t want to go long. Any time you have a solid downtrend with a huge selloff, you want to be watching for opportunities to go short. With such bullish sentiment and momentum, the market could just be taking a breather before moving significantly lower. Also the area where the pin formed doesn’t have any real definitive S/R areas. You can scroll way back in time but there is just to many potential S/R levels. Pin bars by themselves don’t mean much, but when they are in the right market context(with the trend or ranging), and are at key levels they have be highly probably and profitable. It’s that high quality setup with all probability on our side that give us Price Action traders a trading edge. In my opinion the best trade setup would be if price is able to pull back to .9000 and form a bearish price action signal.
Sorry, im trying not to giggle to myself. Can you give me the chance to counter-sue you?
Pipzilla is about to step in as the bigger man and bang our heads together… Perhaps you would like to outline on what grounds you’re reporting me on. Apart from “violating” your own rules which are not underwritten by babypips.
Looking forward to you response.
Let’s see if this will post a chart shot of USDCHF.
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[I]Rules and Quick Navigation:[B] Before posting in the forum please visit post #2 and read through all of the rules for this thread.[/B] This well help ensure the thread remains valuable and targeted with what we teach here. Also check out post #3 where I have quick navigation links to important articles and videos that are posted here. This will help you quickly get up to speed and join in the price action discussions here. If you are a regular member, please continue to visit the Quick Navigation area as I will be updating it as new learning material is added.
[B]NOTE #2: I have tried to provide enough information of myself to help traders become familiar with who I am. If what I have already laid out is not enough then either move onto another thread or send your questions to me privately. I want a clean thread here dedicated to talking price action trading. Anything that falls outside of those boundaries are not allowed in this thread.[/B][/I]
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8.[B]Do your best to stay on-topic. We know it’s hard. Keeping the subject matter related to the original poster’s thread topic benefits us all.[/B]
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I set the course for this thread on day 1 as a price action discussion thread, so yes anything outside of that is both in violation of baby pips rules and the rules of this thread, and a derailing of this thread.
hmm…
Price is getting down into the bottom of a long term range, but you would still be trading into a solid downtrend that has recently picked up steam. While I personally don’t take counter trend trades I do know there are others here who do and may take this one.
[QUOTE=“krugman25;555746”]
Price is getting down into the bottom of a , but you would still be trading into a solid downtrend that has recently picked up steam. While I personally don’t take counter trend trades I do know there are others here who do and may take this one.[/QUOTE]
Thank you for your thoughts
Hi Krugman, please could I have your thoughts on my posts numbers 172 and 173 when you get a chance?
Thanks
Just checked and I got stopped out for a loss on my GBPAUD short trade. I was looking at another PA Thread and people were talking about this GBPAUD setup and because people had drawn the resistance line lower down than I did just below the nose of the pin (so it became support, it looked like you would be shorting directly into support) they were saying the setup wasn’t valid…of course this is all subjective and depends where you draw you s/r lines…if I could have your thoughts on where I placed my resistance line that would be appreciated to (see charts on post 172). Thanks
Interesting, Amy. If I were to take this trade myself, I will target the 1.68300 level as possible FTA.
But other than that, I don’t like the size of the pinbar for this CT trade. If it’s D1 tf, it’s okay. But this is H1 chart, so I demand a bigger and more obvious pinbar there.
[QUOTE=“mancamy;555841”]Hi Krugman, please could I have your thoughts on my posts numbers 172 and 173 when you get a chance? Thanks[/QUOTE]
Sorry Amy I’m on my cell phone and it doesn’t show post #. If it is ok I will try and check out the trade tomorrow morning an provide a little commentary on it.
I have one comment and one bit of wisdom I’d like to share to add value to this awesome thread.
Comment: Aaron, keep strong, stay firmly planted on our Rock and we can all make it through this (so predictable) phase of haters. It’s a season that any thread goes through, anyway.
Wisdom: I believe an earlier poster mentioned this as well, but price action signals set up all over the show, all the time. What I strongly suggest every newbie takes to heart is to choose ONE kind of signal and trade only that until you have mastered it. Otherwise you are surely going to blow it. The signal can be anything really. One very easy trade is trading a pin bar candlestick that bounced off a trendline, much like in Aaron’s first video about a good pin bar setup. I have demo traded 4 of these trades this week, every single one profitable! If I can rinse and repeat that for a month or so, I would have seen enough nuances of the setup and can confidently add it to my list of setups I look out for.
Here is just one example of one of these setups:
Have a great day and weekend everybody!
Cheers
What time frame(s) were you using Cyanidez?
Thanks.
Hi Daxter, I’m sorry, I see it’s a bit unclear. That was on the GBPCAD and on the H4 time frame.
Thanks!
Once again thank you for your dedication, it helps us newbies to walk the right way of success. I also don’t trade often due to my personal issue; mom of a little son, housewife and studying PA to become a fulltime trader after my son going to kindergarten school next year…it’s time consuming!!:57: So I like to take the trade on a 4hr chart or minimally a 1hr chart.
Kind regards,
Usa
Great post and great advice! I noticed you have been posting and actually had read through some of your threads before I saw here over at our PA that matters threads. I know you have been looking for some trading technique/method to help you become consistently profitable, I hope you get that from PA trading.
I agree with keeping your trading basket small and sticking to a few basic setups and even using just 1 or 2 S/R tools to start off. That was actually the motivating factor for starting this thread, I wanted a place to learn and use only the basic parts of PA trading before graduating up into the more difficult to learn parts.
Let me know how your demo trading turns out. Have a great weekend!
Hey Jetaime, thank you for the kind words! I am glad to help out, I hope it is making a difference in peoples trading. Raising little boys can be time consuming. We have 2 and are going to try for a 3rd. We are also planning on adopting 2 little ones in the near future. I will somehow find a way to trade though, haha. I watch the really low TF charts like 30min to H1 but there are rarely good trades to take at that level, most of my trading is done H3 to D1. I hope to see you around more.
Great, thanks, Aaron.
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