It was jitters as news came out that Moody’s thought about downgrading NZ’s AAA and finally said they wouldn’t for now.
[QUOTE=“jpw0100;557984”] Wanted to show a trade I got in. I’m not an expert on playing double tops so i wanted to use this as an experiment. Where is the best place to enter on these? Was my thinking ok? This was an uptrend that formed a double top signaling a reversal in trend. It came down and broke an area of major support, while also forming a pinbar which told me price would continue down. And that is where I entered as I was expecting it to continue down to the next area of major support. I am currently up 90 pips on this trade and have almost hit my TP Was this a sound trade? Suggestions, comments please?[/QUOTE] I would not have taken this myself. Pin bar is in the middle of nowhere and relatively small. I would have waited for a large signal to go long at the bottom around 1.600 or closer the top to go short where it met resistance earlier.
Hey guys, Here’s a trade I just took. I shorted the Aussie against the Swiss. Normally I would wait for a 10 pip break of the candle to enter but my broker wouldn’t let me as price was already within the 10 pip window for pending orders so I just entered at market. Stop loss usual 10 pips above the pin and I’ve set my T/P near the 100% fib level at 0.8417 for a 1/4.5 Risk/. Greedy I Know but these are great when they work.
Steve.
Hey Yves. I made 36 pips yesterday on the Aus/Nzd, short. TP kicked in.
Thanks to you on that one, for the heads up on it earlier.
I’ll be scruitinizing and analyzing my trades on the weekends.
Thanks man!
This is exactly the kind of setups I would enter as well. Personally, I think it’s good. The only thing is it will be working hard right from the beginning to break that support a few pips below entry.
Very glad to hear I made someone happy ! Now, don’t take all the setups I mention before getting a few more views from other members on it and most importantly aim at becoming independant.
Forgot to add this volume pic. I’m not sure if the parameters are right or exactly how to interpret it (for instance big volume bar and a small candle???). I’ll wait for Aaron’s lesson on volume.
Steve.
Hey traders, It looks like there are some potentially good setups forming on some of the CAD pairs, so keep your eyes open for those. Also I wanted to let everyone know last night I recorded part 2 of my original pin bar video. That video will be discussing the story behind pin bars and the market psychology behind why they work. I need to do some editing on it before I upload it but I will hopefully have it up before the weekend.
Are those daily levels ? I don’t even have a resistance at that level.
Just as predicted yesterday, but no decent signal to enter arrived. Doh! I hate it when no plan comes together…
AUD/CAD weekly looks like it might form a nice BEEB. Right under a VBRN 1.000000
I will be watching this pair and if all goes well will take it on monday.
First TP would be at 0.97907
I’d rate it 4/5
Pros:
-It’s at a good level (VBRN)
-I think it goes with the trend if the last move downwards can be called that. I don’t know how to determent the trend in this scenario, since before its quite ranging.
-Fairly clean area to move below.
Cons:
-It doesn’t stick out all that much just yet, that might change.
Edit -I noticed the 0.99000 support, so unless the beeb closes under it, the trade is risky
Any comments?
Hey guys!
Really love the feel here! Nice work Krugman!
I see that the thread is going really well and fast n i hope i can catch the train here 
Little intro about myself,
I’m from China, Liao Ning province if anyone knows n i went to Singapore about 10 years ago to study and currently reside here. I have recently graduated from college and awaiting to serve National Service in Singapore. (Their NS is compulsory for Permanent resident and citizens.) And im 22 years old, who’s younger than me?
Anws, I have been in forex for about 2 years and about half year ago started to learn PA in J’s thread and love PA since then. I like the way you teach PA here krugman and hope it helps me to increase my general knowledge on overall market and PA.
Lastly, like to thank you for starting the thread and will definitely follow it and contribute as much as i can thats within my limit. I guess the reason why the thread is going really well is also because of your selfless contribution to the community Krugman. Nice work!
Jack
Hey Jackson, I am glad to have you here! I know you have been a big contributor to the price action discussion that go on here at babypips, and I appreciate that. I look forward to your contribution here, and I know your knowledge and experience in price action will valuable. Running all of the various platforms that I use to teach price action has been really time consuming, but also really rewarding! I have a certain way I tried and it is natural for me to trade that way, but it has been challenging to get it out in a format that others can understand. Going through the process of getting my trading style and methods from being internal to being written out has really helped me grow as both a trader and teacher.
How long do you have to serve for? I joined the US Air Force when I was around 19 years old. I hope you receive a lot of benefits from this thread, and it translates into more profit. Some of the things discussed here are more advanced and like all things trading, new concepts and methods take a while to learn and master. I look forward to seeing you around.
~Aaron K.
Great Commentary. First question is what is the timeframe for this chart? That is a tiny EB compared to the previous candle, which is something to consider in the risk. Time frame is important when looking at relative candle sizes. There are potential setups forming on other CAD pairs. Have you checked these other pairs? If so do you think they are better, worse or about the same quality as this?
I have to serve for 2 years and starting on the 5th of Nov. I wont have much time for first few months but ill try to squeeze time for forex study and trading. I’m now trying to catch up with all the info here as its really going fast! Should have been here sooner!! haha Anws ill definitely see you around Aaron!
Jack
Thanks Aaron
But I did mention the TF on top of my post. It’s weekly
And yes, as I mentioned in the cons, the beeb is still quite small, but the week is still young. I’m hoping for it to go down some more, so if it does, I think it’s a great place for a reversal.
And on the Cad pairs, I’ve noticed USD/CAD D1 to be a good spot for a bearish signal, other than that I need to check more my charts and see what the Cad pairs offer.
Hey Jack, I am from Malaysia which is your neighbor country. =)
Btw , I am 22 years old too. Hope can learn from your contribution here
Shane
Hey of course! Really love to hear more from you since you dont post that much!
Glad to know we are same age
Jack
I wish I had started trading at 22…
Gosh you make me feel old
Aaron I always notice in your charts (FxCM trading station I guess) an extra candle when the market is closed
does it build in real time or it just appears when the market opens ? also does it show price rejections that happened in that period ? i.e. wicks and shadows ?