I have been eyeing this pair also. I am waiting for a deeper pullback to the trend line. If it happens at the right time we may end up with overlapping S/R to create a high quality PA setup.
Please label the timeframe on your screenshot or in your post. Also at a minimum have a basic list of pros and cons of what you think of the trade. We want to keep this as educational as possible.
what is your broker ? mine doesnât look at all like that
Krugman do we have to use NY closing time brokers in this thread too for consistency ?
Yes it is a requirement found in the rules post. Thatâs why I was asking for the timeframe because I also couldnât find a timeframe that looked like that.
This broker is Hantec markets, its my contest account its kind of strange becouse in the past they had NY close charts but now as im looking at my regular account its diffrent then this. On the NY close chart if you blend in 4h chart for 8h chart you will see engulfing bar so setup is valid i think. Could you comment on the posted chart as an educational example?
I forgot to add to my trading plan:
sl move to be @1,0388
Thanks Aaron,
I didnât know we also look for a candle that protrudes in case of Engulfing Bars, good to know. I will leave my order, my guess is that it wonât even get triggered and if it does, I will be very strict with it.
Yves
Glad I can help as always, Krugman. I see some members here are more than happy to ditch the âold wayâ from the âother threadâ once they joined your own personal thread here. Iâm not saying they are wrong to do that, but I want people to never forget the kind of things they basically trade off once they âconvertâ to âyour wayâ. For many newbies, it can be very painful to re-read their journal and find out that they essentially have [B]a very low Win Rate[/B] before hitting that one big win that could compensate all the loses they have taken so far. You just recently lower your acceptable timeframe from 1 hour to 30 min, donât you? Interesting. Very interesting, indeed.
Anyway, like Iâve once said back then, I like the strength of both J and K approach, and I have no problem to incorporate anything that suits my own personal strategy. Just like Bruce Lee once said, â[B]Because of styles, people are separated. Research your own experience. Absorb what is useful. Reject what is useless. Add what is essentially your own.[/B]â
Source: ZEN PENCILS - 35. BRUCE LEE: Absorb what is useful
In the real life, most people at the first glimpse will think that Iâm a complete oaf and therefore, harmless. Conversations with me are rarely linear, and sometimes it takes a moment to realize how one thing might relate to the next. But you do realize after a while that if you keep up with me, hang on tight, and have faith, all kinds of strange sense may eventually be made. 
We have a very nice pin bar forming on the Silver Daily TF
Pros:
It has a great long wick
it shows clear rejection of the price since the wick goes well beyond the support area
Cons:
Counter Trend
the day isnât close yet 
It is in the middle of S/R area
Rating 2 / 5
Ok so here is my analysis :
Pros :
Cons :
another one I have my eyes on is EURJPY BEEB
Pros:
at S/R
pass the S/R area and then close below it showing price rejection
Not against the trend since it is a ranging market
Cons:
Not on the top of the range
a lot of noise on the left
day is not closed yet
Rating 3.5 / 5
Many potential setups forming on the daily. Itâs a bit to early but better to keep an eye on them
Hard to read, so here is the detail:
EURCHF BEEB likely
NZDUSD PB likely
EURJPY BEEB likely
CADCHF PB likely
CHFJPY BEEB likely
Hi Eternal.
I have a support level higher at at 132.64, so not sure about thisâŚ
You are right mate. But just want to point out that, there are some CT on some of the pairs here.
Interesting âŚ
I am still struggling to learn how to position these correctly thanks for the head-ups
I disagree that a trader has to ditch one method to come and learn over here. I see it more as someone building on top of what they already know. What is taught over at Mr. Foxâs thread is very rudimentary and base level PA information. Nothing I teach in here that would be labeled âadvancedâ makes any sense without that base level PA knowledge that you would learn in places like Johnathonâs thread. I would like to know what you had to get rid of to âconvertâ to this thread. Let me use this comparison, when you learn middle school math, do you throw all of that away to learn algebra, trig or calc? No, it actually becomes the foundation and most important part of this higher learning of math. Whether someone learned those foundational PA principles over at Nial, Chris, Johnathon or learned it all here doesnât really matter. Everyone has ârulesâ, and I may disagree with some of these other teachers regarding their rules, but the foundation PA principles change very little between each teacher.
What I am teaching here has a number of distinctions between other mainstream PA teachers. The biggest one is I donât stick PA in a tiny box. I firmly believe that the reason this happens is because each one wants to sell a method that doesnât look like anotherâs. So for example if Nial has made some sort of candle setup a staple of his trading, you wonât see the others using it or talking about it. So you have restrictions put on the teaching, not based on whether it is important or not, but based on what they are trying to sell to people. I look at every aspect of it and strive to teach and master each of these market dynamics. I donât have a conflict of interest in my teaching so I am discussing things I truly believe in and not leaving anything out.
Regarding the candlestick timeframe, I personally trade a number of things not allowed in this thread. The biggest reason is I donât want to introduce something to traders that I havenât personally proven effective (I.E. Iâm watching out for you). There are things not taught here, not because I donât think they work, but simple because I have not learned them myself. The other reason is because some things are truly difficult to trade with an edge and I wonât put it in here until I get ample learning material on it. A good example of this is the pennant pattern. The 30 minute timeframe was added because I think they can be traded as successfully as the 1 hour. It is a good addition to this thread.
Hi,
I want to show you my trade on USDCHF H1. Not because it was successful trade but because I want know your opinion about this trade. Still think that we can learn a lot when we post our trades (successful or unsuccessful). So here is how I think when I take this trade:
Proâs and Conâs are in graph
I place SL below BUEB (3 pips??? not sure) and I want place SL below the low of the 1. candel after weekend gap
I use retracement entry 0.9100 because I want place my SL to BE if price reach the nearest high which is 0.91130. So my SL is 13 pips and if price make 13 pips to profit I move with SL to BE.
I donât want place entry below 0.9100.
For me it is illogical place entry below BRN and I donât want place entry above BUEB because then there is nearest high too close. Nearest high is for me danger area and when price reach this level I want have my SL on BE.
In this moment is everything fine I risk no money and hope that I catch momentum and price reach my target 0.91273.
I almost never split my position. I have usualy only 1 target.
Sorry that I donât post it live but on H1 TF I am happy that a take trade in time ;). I am slow trader in fast TF ;).
I want to give you a good thorough response but I honestly donât completely understand the post. It seems to me you were saying you entered on a retracement of the BUEB (went long) and was shooting for your target. But in the picture price has already gone through the target. So are you asking for advice on a trade you are wanting to take, one that is live, or just theorizing if you would have taken the trade?
The one i like most is the CADCHF. I start really seeing the point of EMA lines, on this chart you can clearly see how they affected the price. The nice thing is there arenât any on the way down !
I went long when this BUEB occure (picture below). Hope it is clear.
I want to ask if you take this trade or BUEB is too small for H1 TF or if you see any other problem with this. What do you think about moving SL to BE in general? Some people say that if you move with SL then you ignore reason why you choose the trade (S/R lines, if you place SL below PB it is significant level but if you move with SL and place it above PB (you are BE) there is no reason why price should react to this level). You have SL in BE but not in significant level.
I like the setup, and for traders looking at volume, this is a really telling sign of a price rejection. I am cautious on this trade though as it has really fought moving lower. You can also see a bearish flag forming at the smaller time frames. Due to the contradicting PA signals I am seeing, in this case I would rather just trade the flag. I posted the flag, the different types of entry and risk of each entry, and corresponding SL that would go with the entry taken.
