Pure Price Action For Dummies

[sharebazar]

Hi Sharebazar, thanks a lot for your explanation, I really appreciate it. Can I show you what i saw for the GBP/USD pair, so you can tell me if I am on the right track?

<img src=“301 Moved Permanently”/>

SO the bias for last week was bullish. SO this week we should be buying. I also drew the SnR lines that I saw.

<img src=“301 Moved Permanently”/>

After that i went to the daily TF and saw that yesterday (monday) was a bearish signal. So we should not buy. SO we only buy when the daily candle that closes is a bullish candle and it has to be close to the SnR levels?

What happens if it was approaching a resistance level? We do not go short right because of bullish bias?

Am I on the right track? let me know. thanks!

Hi gkuang2

You are in right track, just need to focus on SnR level in my opinion.

[sharebazar]

Look at the chart below I have draw the SnR line on weekly TF and move to lower TF.

Please ignore the dark colour.

GBP/USD

Weekly TF

Daily TF

4HR TF

[TC_Holland]

Sharebazar your analyses and explanation are very clear as always ( EU). I agree to look for a short entry and my SR is on the same level as yours. The only thing that confuses me is that last week candle was bullish The week before that as you pointed out looks like a reversal candle but last week candle was not the conformation that we should be looking for. So I am a little in doubt about this trade.

[sharebazar]

Hi guys what do you think about the AUD / USD pair. I am looking to go short may be today or tomorrow.

[sharebazar]

Sharebazar your analyses and explanation are very clear as always ( EU). I agree to look for a short entry and my SR is on the same level as yours. The only thing that confuses me is that last week candle was bullish The week before that as you pointed out looks like a reversal candle but last week candle was not the conformation that we should be looking for. So I am a little in doubt about this trade.

Hi TC,

You are correct, but if you see the week I have pointed with arrow down is closed with a very small body with very long wick at the top and very small wick at the bottom, in my opinion EU pair still weak and can drop more down. Even last week candle also closed inside the week before last week.

[TC_Holland]

Hi TC,

You are correct, but if you see the week I have pointed with arrow down is closed with a very small body with very long wick at the top and very small wick at the bottom, in my opinion EU pair still weak and can drop more down. Even last week candle also closed inside the week before last week.

Hi Sharebazar,

Now I understand what you want to say about last week candle Thanks! It is not completely what they call an inside bar but close enough.

About AUD/USD It is getting close to my SR Small SL possible Not sure about TP (0.7755 ??)

[donsls]

@sharebazar

Hi gkuang2

Just look at the EUR/USD pair.

See arrow marked is the week before last week, last week also closed with a wick at the top.

Weekly TF

We need look for sell for this pair.

Look at the yesterday daily candle also closed bearish.

Daily TF

See the horizontal line line which is draw in Weekly TF.

Horizontal line blue colour and the resistance line below is my entry area for short.

We need to wait for the price to come to our entry area then we will wait for 1HR or 4HR candle for signal to open position.

If we get an entry then our SL will be under 40-50 pips, and if the trade go against us we will only loose 40-50 pips. But if the trade go according to our plan then we can have 80-100 pips.

Hi sharebazar,
Could you give a little bit more info about this pair please? You mentioned that 2 weeks before the W1 had a long wick. Why do you think it is bearish?

[bobmaninc]

Hi guys what do you think about the AUD / USD pair. I am looking to go short may be today or tomorrow.

Sounds good to me i did have a long on AUD/JPY from yesterday up 92 pips right now but i think the rally might be losing steam.

[Gssg]

Hi ,

This is a pic for GU(4H). My understanding on this method and BPC. And last week bias is buy, so this is the reason why I chose to buy for this pair. Can anyone pls comment ?

[Gssg]

Hi guys what do you think about the AUD / USD pair. I am looking to go short may be today or tomorrow.

Hi Sharebazar,

My take on this pair will be sell around 0.78577-0.78800, as prices have been acting as resistance for the past 2 weeks. I think RR would be very nice as TP will be the region 0.7720. SL probably 40pips.

[TC_Holland]

Hi sharebazar,
Could you give a little bit more info about this pair please? You mentioned that 2 weeks before the W1 had a long wick. Why do you think it is bearish?

Hi Donsls

The long wick at the top makes it a bearish pin bar. You can google for “pin bar and inside bar combo” to find more about this. I also didn’t see it at first because last week is not a real inside bar.

I hope it helps

TC

[blackhand]

Exited GU trade with 88 pips. Took forever to move but it finally did. Two trades in a row and GU didn’t move until Wednesday. Will note that.

[sharebazar]

Sounds good to me i did have a long on AUD/JPY from yesterday up 92 pips right now but i think the rally might be losing steam.

Hi bob

Very nice trade as always. Let’s see how my trade ends up this week.

[sharebazar]

Hi ,

This is a pic for GU(4H). My understanding on this method and BPC. And last week bias is buy, so this is the reason why I chose to buy for this pair. Can anyone pls comment ? <img src=“301 Moved Permanently”/>

Hi Gssg,

Hope you got good amount of pips today from GU pair.

[sharebazar]

Exited GU trade with 88 pips. Took forever to move but it finally did. Two trades in a row and GU didn’t move until Wednesday. Will note that.

Hi blackhand,

Very good trade 88 pips, let’s pips come to all of us.

[blackhand]

Thanks. Yes pips for everyone.

[donsls]

Hi Donsls

The long wick at the top makes it a bearish pin bar. You can google for “pin bar and inside bar combo” to find more about this. I also didn’t see it at first because last week is not a real inside bar.

I hope it helps

TC

Thanks TC.

[Gssg]

Hi Sharebazar,

Thanks. Managed to grab 78 pips on GU. Which pair are you in now?

Hi Gssg,

Hope you got good amount of pips today from GU pair.

[TC_Holland]

Hi,

Good to see that everybody is making good pips this week. I missed the GU but got yesterday 73 pips on GBPNZD
Keep it up

TC

[TC_Holland]

I went short on NZDJPY price 89.686 and moved it to BE

It is against weekly bias but on monthly you can see the pattern and yesterday candle was bearish TP on today’s opening for now.