I only took one trade this week that fit my plan criteria and the rules of the thread and it was counter trend at that, but I closed out the month +8%. Couldn’t have done it without the guidance here. Thanks a lot.
Hey Fahedska, I am having trouble following what you are asking me. Can you do what you are asking on a chart and post it here, and I will tell you if it is correct or not.
Hello Aug484 and welcome
care to share your trade / PA / entry and exit points ? we might all benefit from it
Hello everyone, new to the forums and just wanted say hi! I also wanted to post a couple charts that I am going to watching when the market opens up.
GBP/CHF 4H Chart
Watching as prices near a strong support zone and will be looking for a bullish price action trade setup to go long
AUD/NZD 4H Chart
The first scenario would be for prices to bounce off of the support zone and I go long if a bullish price action trade setup rejects the support zone
The next scenario would be if prices broke through the support zone then pulled back and retested the broken support turned resistance zone. If prices do pull back I will be looking for a bearish price action trade setup to sell short
EUR/CAD Daily Chart
After a strong bearish candle on Friday prices have closed below a strong support zone and I am now looking to short this pair. Ideally I am looking for a pullback and then a bearish price action trade setup to form rejecting the resistance zone. Also it looks like this currency pair is starting to downtrend and would be a great time to jump on the while the trend is young.
That is what I am going to be looking for in the upcoming week, what is everyone else looking for?
Hello and welcome,
Glad to have you here and can’t wait to seeing more of your input.
I have posted a weekly evening star of GBPUSD just one page before, if you can take a look at it and give me your opinion
thanks
Thank you eternalnewB!
I do not trade evening stars so I could not tell you. My analysis of GBP/USD would be that on the daily chart prices have broke through a major support zone and I am waiting for prices to pullback and retest the broken support turned resistance zone. The chart below will explain better:
Looks more like a double top structure to me.
care to elaborate more as I am not familiar with double top ?
Very common pattern, Bizzaro posted a link with some basic info and stat analysis about them before…
but there is loads of information all over the net that go into more depth.
Being patient…
Hi everyone!
I had some time on my hands today so I thought i’d share something I am looking at. Sorry if this already has been brought up earlier but to be honest I had to prioritize this week and have not been able to go through the latest 10 pages of posts in here (this thread is really skyrocketing).
I was looking at the AUD/CAD weekly chart and saw a pretty big price action (Bearish engulfing bar) at a very attractive level (strong S/R and VBRN).
As you know this pair broke out of a consolidation zone in the end of may this year and has now come back to retest it. This is how I look at the pair (weekly) and the PA signal.
Closeup of the PA-signal:
I’ve mentioned the pros and cons in the screenshot. We need another lower low lower close to confirm a new downtrend on the weekly chart. So the only cons i can find regarding this setup is the non confirmed downtrend and that we are trading in the middle of a S/R zone when looking 2 years back. But looking at the pair only over the last year this trade setup is really attractive.
With a 5 point rating i would give this trade a 3.5. Entering at the break of the last bearish candle would leave us with a pretty big stop loss though (220-240 pips) so maybe an entry on a retracement would be a better idea. The size of the bearish candles signals heavy selling-power so we maybe do not get a deep retracement before price continues south.
What is your view regarding this pair/time frame?
Make it a great week peeps!
EDIT: Sorry for the small text on the first screenshot. I’ll make it bigger next time. 
the pinbar could also form due to the week ending and short traders taking profit. i would rate it 2 stars. it is indeed at a strong support area though
I uploaded a video today on Why Pin Bars Form
I don’t think it is enough trade a checklist or do a 1, 2, 3 step process to become a truly successful trader. Each trader should understand why price action works and what causes the various price action candles and patterns to form. This will help you think “in the market”, and develop good chart analytic skills.
Hey guys, I turned my back for a bit and the thread suddenly EXPLODED… Anyhow, its Sunday evening where I am, and with the markets opening in a few minutes, I’m wondering, Is there anyone who trades the weekend gaps? I’ll post a chart in a bit, to avoid the concept of trade calls. Keep in mind, I am usually wrong, but stops keep me afloat.
As promised, AUDJPYH2 chart with just a few scribbles on it, showing the concept of what post 1376 stated. However, this is a trade I would most definitely pass up, due to AUD and JPY being active during the same session.
There are techniques that claim to be successful in trading gaps, but gap trading doesn’t fit the type of price action trading here.
Point taken and duly noted.
Hey everyone. I’ve been thinking. Ever since I seen Kas post up the EUR/USD last week. We all have seen what happened to that pair. He was right! And I’m a dummy for not getting in on it. So, that leads me to talk about something. It’s hard to understand, but I’ll try an explain myself. It is called “hindsight”.
We all have been there. How many times do we look at the charts, see what happened, and just wonder why couldn’t I have played it that way? You know, I’m one to preach “learn from your mistakes”. But, you know very well, in this business it will take time and time again to learn something.
My question is this…Is it possible to really bridge the gap between what happened in the past, to accomplish it in the future? How much is repeated in the past that will happen again?
Just somebody tell me that they took Kas’ advice and went short the EUR/USD this whole past week. I haven’t heard anyone on that. IT WAS A NO BRAINER!
I’m kicking myself, because I really believed him that it was gonna “crash”. I don’t know why I didn’t take it. Was there no real PA signal? But there was the pattern though.
Look…I’m just venting to myself. And wondering if anyone else has sort of the same thoughts.
What I would love is to see this again, and take 300 pips in a week. But, I doubt it. Unrealistic.
Will this happen again? Can I learn from hindsight? In fact, how much is repeated? To be learned.
I do understand that price action is successful because of the repetition of signals and patterns built over time, but, how much is repetition as opposed to randomness? Randomness meaning we just CANNOT guess where’s it gonna go.
Thanks for listening.
But, I am ready for another week of possibilities.