Hey guys, Here’s a possible senario I’m keeping my eye on over the next few days.
Eur/Usd short off a good confluent area which could include:
Key Horizontal Level, 50/61% Fib levels, 8/21 EMAs,Re-test of the trendline.
The higher low of the recent uptrend has broken and the EMAs have crossed to the downside giving this pair a downward bias in my view.
Just a nice Price Action signal rejecting some of the above and Im in.:).
Agreed, I’d really like to see a retest of the 1.35 S/R area, altogether with the former trendline that could now act as resistance. If this happens, I’ll join you with some shorts 
Target will be the next major S/R area at 1.32.
Hey Guys,
I have another view on EURUSD - just my two cents:
- Look at the weekly chart: Sitting right on top of a major support there
- D1 chart: We are making nice higher highs (HH) and higher lows (HL)
I’m still more long biased here, would need to see some real strong downward signals to change for me…
The downtrend will confirm once there is a Lower High form and follow by a strong pullback
Hey here is a trade on the 4 hr nzd/usd chart I am looking at taking. Price has been ranging for a while now and has failed to break support multiple times at around .822. A nice pin bar just formed, and if I see price move lower, I will pull the trigger. This will give me a solid RR.
Pros: well respected horizontal support
Long wick on the Pin bar
Trend upwards before this range
Cons: support was tested many times, so it may break through this time
no strong resistance levels above for a while, just noise
Rating 2.5 starts out of 5
Hi Gpotylchan,
I saw this one too! Still a bit worried about the traffic on the left side though and the wick could be nicer for my taste. I think I let this one pass and wait for a more A++ trade…
USDJPY IB/Triangle Breakout Long
2.5 Star Quality
Good morning traders! It looks like there are some good price action candlesticks and patterns that are starting to form and shake out. I am currently in 2 trades right now but I wanted to post one of them. I entered the USDJPY long last night at the break of the IB. Depending on how things transpire I may hold until 100.50 for a solid 1:2 RR or I may hold longer and shoot for that 2nd key level of 101.50. This is going to be a trade that I don’t set a TP for but watch as it plays out. On daily trades I generally go larger on my risk 3-5%, I believe on this trade I went somewhere in the 2.5% range just because of the quality rating I gave it
Pro’s
*Long term bull trend going into triangle pattern giving this pattern an overall bullish bias
*Small IB candle showing price winding up for a breakout
*Increasing volume on both the IB pattern and the breakout of the triangle
*IB formed directly above key support at 99.00
Cons
*Price passed the 2/3 mark on the triangle
*Mother bar was very large
*Modified SL required for an acceptable RR, increasing risk of trade
I just entered a trade off of the 15 minute charts. If I get a chance later on today I will post the trade w/ analysis. Also my work hours have changed so I will be popping in around 5:20am and again at around 2:30pm (Central Standard Time) every day.
Hi Aaron,
I am loving this trade. I am long since 25 October, so sitting pretty right now 
I am also riding it out for a bigger fundamental unwinding of the currency pair. I can afford to be break-even right now, so it’s a free ride from here on with full position still on. Let’s see where this one goes!
Cheers
I was actually thinking about you when I wrote that post, haha. I think there are still good opportunities to get in, and I think the fundamentals are pointing to a higher USDJPY in the future. I will pyramid my position larger if price action setups present themselves.
Hahaha nice! Pyramiding is something you certainly have as part of your strategies that I don’t… perhaps I should add a “yet”. But that’s where I tend to get overwhelmed, perhaps I should start looking at pyramiding from the daily time frame, although I suspect this might be sub-optimal… I have some home work to do!
Good luck bud, keep us updated when you find some time
Pyramiding lets us guys who were late to the party, still get in on all of the action! :59:
The AUDCHF trade has played out quite well since called it it last thursday in my price action that matters for beginners thread. Price did pull back to the key retracement level(trendline and previous candle high), before shooting lower. That retracement entry would have allowed for a solid 1:3 RR setup as of right now, which is quite impressive for a daily setup. Price has temporarily found support at the first daily support area I had mentioned. Given the aggressive sell off I would not be surprised to see it break lower and reach the next daily support level at .8400.
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[QUOTE=“krugman25;564512”]<img src=“301 Moved Permanently”/>
The AUDCHF trade has played out quite well since called it it last thursday in my price action that matters for beginners thread. Price did pull back to the key retracement level(trendline and previous candle high), before shooting lower. That retracement entry would have allowed for a solid 1:3 RR setup as of right now, which is quite impressive for a daily setup. Price has temporarily found support at the first daily support area I had mentioned. Given the aggressive sell off I would not be surprised to see it break lower and reach the next daily support level at .8400.[/QUOTE]
Nice one Aaron! Looks like a great trade, I missed this one. I just have the one trade on the go this week, I took one of the USDCAD 4 hour pin bars, it is counter trend but at a very key level of a BRN. I used retracement here to lower my risk, Only risking 30 pips
[QUOTE=“wm247;563695”] Hi K, my Peppers shows me this: <img src=“301 Moved Permanently”/> Not a valid 2-Bar reversal there.[/QUOTE]
Hi
I have the same issue with my charts. I am using MT4 using oanda usd demo server, the timing is New York time but when I compare the daily charts versus the charts here they don’t seem to gel.
Apologies if I am asking a newbie query but appreciate it if someone could advise or direct me to thread which have discussed this?
Thanks
You can check the list from our comrades in Johnathon’s thread:
# Providers of 5-DAY New-York Close Charts
There they also discuss Price Action, albeit from different paradigm. Many traders here come from that side, and I personally believe Krugman’s thread is a good complement to what I’ve learned (and am still learning) there.
Yeah, it’s party in the USA!! <Miley Cyrus playing in the background>
With Krugman as our host, what could possibly go wrong?? <tempting fate> 
[QUOTE=“wm247;564687”] Yeah, it’s party in the USA!! <Miley Cyrus playing in the background> With Krugman as our host, what could possibly go wrong?? <tempting fate> :D[/QUOTE]
Haha, who’s Miley Cyrus?
Evening guys
I’m not sure a Miley Cyrus party is my idea of fun, It sounds almost as painful as Benedict squealing like a little girl whilst he’s watching X Factor.
Im pulling my mohican out tonight over these daily NZDCAD and NZDUSD pins, any thoughts on them? They appear nice and innocent and with trend at first view but maybe forming a double top pattern which would indicate a move down. On top of this, I would probably only look to take one of these, but which is the best? It’s a tough one because they look pretty identical.
BA
Haha, Benedict may kill to see you dance like Miley Cyrus, BA. It’s party in the USA. 
Krugman, that’s her signature song. ‘Party in the USA’. Check in youtube if you have time, and imagine BA dancing like that as bonus point.
In a more serious note, I think the resistance ahead is rather troubling for both NZDs. No go for me.