Pure Price Action For Dummies

Nice trade a ballsy one imo. I like to trade after long candles like that but be careful price can be unpredictable. Very profitable if you on the right side. As for me since i am on still holding my position from my last post last week. Was up 100 pips or so but now holding on to 50. Got a long way from my tp or stop so hell let it roll. As soon as i figure out how to post a chart with my new phone i will. I am not tech savy. Hell sometimes clickimg my mouse can be challenging. Especially these days since i have not seen my laptop in quite some time.

Bobmaninc,

Goodluck with your trade!

And a nice weekend to all of you…
TC

Have a great week-nd everyone and we will do it again next week.

Hi Everyone,
I would like to know your comments on the following 3 pairs

chf jpy
Bias weekly and daily says sell
The blue broken line is my SR from H1
My fibs and the broken line comes very close @ 61.8.
Go short around that area?


eur gbp
Bias weekly and daily says sell
The blue broken line is my SR from H1
My fibs and the broken line comes very close @ 50.0
Go short around that area?


gbp chf
Bias weekly and daily says buy
The blue broken line is my SR from H1
My fibs and the broken line comes very very close @ 61.8
Go long around that area?


Out of the 3 pairs I think gbp chf has the strongest SR with H1 SR and Fib 61.8 coming together.

I have few more pairs with simillar setup, but if my analysis is good for these, they are good for others too.
But I want your valuable reply. If I made any mistakes, I want to learn from them.
Comments are greatly appreciated.

Donsis out of the three i trade and follow the EURGBP and in that one i would go short on the 50 , but i would have a tight stop.

Missed the entry on chf jpy. Could have bagged 50 pips at least. Other pairs didn’t give me entry signals.

Are you drawing your fibs backwards or do I need some stronger coffie?

Are you referring to all 3 pairs?
This is how I draw Fibs :
In a down trend, if I see a reversal, I draw the fibs from the point of the reversal candle to the required candle (upwards) in chart and vice versa.
So in a down trend from bottom to top and up trend top to bottom.
This is in MT4 (don’t think that matters).
Am I doing this wrong?
May be I need some strong Vodka.
Now you totally confused me :slight_smile:

Hi everyone hope you are making lots of pips.

Just hit my TS on GBP / AUD.

Opened two positions total gain 235 pips.



Yes you are drawing them backwards. In an up trend you want to draw them from the bottom to the top. The fib percentages are the percentage of retracement of the swing you drew the fib on. I know that was probably confusing it was confusing to type lol.

Read this it might help

Fibonacci Retracement | Know When to Enter a Forex Trade

Hi everyone what do you think about this pair EUR / JPY





Just add one more horizontal line(red) on 1HR TF.

I went in long @ 134.41 and looking to make some lunch money and maybe dinner too. :wink:

I am waiting for price to retrace to my price level at 135.34 region in order to take a sell.

Gssg when eurjpy gets there , i will be ready to go sell too if the price action is right.

That thing is clearly a long term sell (EJ Weekly)


Hi tonyro44,

Lets see if it does get to the level that we want.

Hit my TS closed with 61 pips on EUR / JPY pair.

15 Min


1HR


Hi Sharebazar,

Sweet! Good start for the month…

Great job sharebazar on the EJ trade.

You went in LONG?