I think the setup has gotten even better ( fake brake of resistance & a good BEEB). Only downside I see is that weekend is coming. I am still learning so dont know how to react to the coming weekend, but I still plan on taking the trade.
yep - looks like a really good oneā¦same as you am a bit hesitant taking this as is formed on a Friday - otherwise i would be all over this one like a rash!!!
[QUOTE=āmancamy;572839ā]
yep - looks like a really good oneā¦same as you am a bit hesitant taking this as is formed on a Friday - otherwise i would be all over this one like a rash!!![/QUOTE]
Iām in this one taken from a 4hr signal - Iāve never had to be strapped into the Trader 6000 for quite so many days as I have recently. I will be holding this one over the weekend along with AUDUSD.
I am actually in that trade as well. Took a retracement entry on the 8 hour chart after the BEEB had formed. The PA occurred at the confluence of the horizontal support, trend line and the 50% Fibonacci retracement level which further confirms this trade. It is also with the recent downtrend. I would give this trade 4 out of 5 stars.
In my trade journal iāve given this trade the following pros and cons:
Pros:
Well defined PA signal
PA at major S/R
PA at trend Line
PA at Fibonacci 50% level
With the trend
Cons:
No clear rise in volume on the BEEB to confirm the bearish movement.
Hope everyone is having a fantastic weekend. November is now over and i thought iād share my results with you.
There were many opportunities for good trades this month but i missed out on many of them due to lack of time. But i managed to take 9 trades total during November and 3 trades are still open. One of them is my AUDCAD weekly trade where i have +220 pips in unrealized profit right now.
To summarize November trading:
Total number of trades: 9
Still open: 3
Break even: 1
Wins: 3
Losses: 2
Total gain during November +0.77%, but with +4% in unrealized profit.
I made 2 obvious mistakes during all of these trades. First mistake i did was during the NZDCAD trade where i missed out on 100 pips of profit because i moved my SL to soon and it got hit for BE. Second one was during the CADCHF trade where i got scared and closed the trade early for +45 pips because of a massive engulfing bar against my position but price eventually turned around and would have hit my initial TP for 340 pips.
But overall a good month. Many predictions i made for pairs and signals i did not trade would have been winners if i would have traded them which adds more to my trading confidence. It looks like i am slowly getting better at both understanding and reading the market.
Well, thats my trading results during november. Iām curious, how has your month been? 
Have a great upcoming week everyone!
Hey Diablo
Itās reassuring to know that you are also in this, I took this from exactly the same area but from the 4hr with a slightly weaker signal. Apologies for the noisy charts but I actually use a mixture of different methods when I am trading with the trend. I look for rejection signals at key areas as usual but I also now use the 30, 50 and 100 EMA to give me further information when I am trying to get in on a trend:
I first of all took the 2br reversal that appeared on the 30 EMA, when price moved above it I then cancelled this pending order. However a small engulfing bar then appeared at the key level offering further confirmation that price was struggling to go higher.
I feel that this pair could go either way at the moment, next week is a news heavy week for a number of currencyās including the Aussie dollar.
What a great month for you Diablo!! That is a fantastic win/loss ratio, I wish I could say the sameā¦I had the worst month trading since I began. Nothing too major but it has set my profit back by about 250 pips. I am currently still in 3 trades, AUDUSD, NZDUSD and AUDNZD. I hope to learn more of your technique Diablo, you are clearly a very successful trader.
I am hoping for a better month next month and will take learnings from this months mistakes. My main mistakes were overtrading and trading reversals when I should have understood that the markets were in strong trends. Up until this month I have only really learned price reversal signals but I am now learning to get in on continuation signals which I am finding interesting and hopefully in the long run, profitable too.
Well, we have an edge working for us on the AUDNZD. Will be interesting to see how it plays out. 
My current open positions are in NZDJPY (-27,6 pips), AUDNZD (+2.3 pips) and AUDCAD (+226 pips).
New month, new possibilities! 
Sorry to hear that BA. October was a real tough month for me, luckily i was only trading on a demo account. But you are right, those months are also good months because you get the possibility to see your own weaknesses in trading and then you can correct them. Just focus on not making them again. There is a nice saying: āThe first time it is a mistake, the second time it is a choice!ā. 
Well, i am very successful trading stocks right now with a return of 180% this year, but Forex, naaa, not so much, haha. 
Iāve so far invested 10 000$ into Forex in different ways (5 000$ in different courses and 5 000$ in losses on live accounts) and havenāt made a buck in real profit so far so i guess i have a long road ahead of me. But that is half of the fun, you gotta enjoy the process of getting better and better and before you know it you have a major breakthrough. That is how it was for me when learning to trade stocks.
I am convinced that we 5 years from now will have many new really successful and wealthy full time forex traders, all of them coming from this thread! Right?
Amen. AMEN!! [B]AMEN!!![/B] :51:
Hey diablo/BA,
Like that ideaā¦letās see a few pro traders coming out of this thread in a few years time
Have been live trading a small account, not been trading this week as I have been reviewing all my forex learning materials and refining my trade filter checklist and plan.
That said, I havenāt done too badly this month. Am up just under 3%/3R. 15 trades taken (actually sounds too many, not all of these were 5star trades, hence me refreshing on my learning). 10/15 trades won or break even.
Am v pleased I am not down on the month!
Cheers,
Amy
Nice Amy! Good job!
5 losses out of 15 trades is a nice 67% win rate which is really good if you can keep it at that level consistently. If 15 trades are too many in relation to 3% profit depends on how much you risk per trade of course. But i for instance entered 9 trades during November and 8 were based on daily charts. On top of that i missed a few good opportunities so if there were 15 good opportunities that you saw, then thereās nothing wrong or too much with that. One month we get 3 good signals and another month we get 20. Hard to say what is ātoo muchā. The most important thing is that we consistently run all setups through our filters and only take the really good ones that stick out compared to all other ānormalā ones.
Thanks Diablo!
Yes, you are right. My issue at the moment tho is that I am not sure whether they were all good opportunities (although I have a feeling some where sub-par) because my trading checklist is not precise enough, I definitely need to do some revision. I think to be consistent (I could have just been fortunate this month), I need to know for certain what fits my plan and what doesnātā¦I have some studying to do.
have a good rest of weekend.
Hey Juan55, welcome to the price action community here. I only trade from the 8/21 EMAs off of the daily chart. I am a big fan of finding all S/R off of the daily regardless of what type of S/R I am using(horiz./trend/ema/fib). I actually try to hide them when posting intra day setups as they arenāt of much use to me.
Hey everyone, hope you had a great weekend/Thanksgiving weekend. Great comments from those who posted what they are thankful for, and good to see people keeping their priorities right.
I hope everyone is ready for another great week of trading! Trading is always better when you are full from a big turkey dinner. :13:
The ill wind continues, whatās wrong with you NZDians? Surely you can see that your currency had clearly broken out and retested and was ready to continue down, down, down on the NZDUSD? This was the safest trade I took last week and looked like a clear pip earner and yet I wake up this morning and Iām busted out and your back inside your little box. What kind of money do you use down there? Rubber?
heres an interesting one, nice pb (could be a little larger and close more bearishly but still pretty gd) formed a a lovely level:
strong sr
61.8 fib (which i have found to be the most consistent reversal level)
and could be forming a new trend line
100 ema
but its right after a big bueb
USDCHF H4
[QUOTE=āWookie1985;573703ā]heres an interesting one, nice pb (could be a little larger and close more bearishly but still pretty gd) formed a a lovely level:
strong sr
61.8 fib (which i have found to be the most consistent reversal level)
and could be forming a new trend line
100 ema
but its right after a big bueb
USDCHF H4
<img src=ā301 Moved Permanentlyā/>[/QUOTE]
That is a nice pin bar Wookie, I may have to sit this one out as its recently broken from its triangle and seems a little unsure of which way it wants to go. I will wait for more confirmation.
i was watching the triangle but it didnt really break strongly enough for me, but i agree its a little unsure at the moment which is evident from the big bueb followed by pb
Dear NZDians
Revenge is coming in the form of U.S data released on the hour, mark my words, weāll have our day yet. Sell stops will be set, pips will be made!
Citizens of NZDier, if the daily pin bar can close back behind 0.81600 you know itās on!