Pure price action trading setups

Thanks for the advice saliv even though you are cautious about it,and I will try to pay attention to the market.
Here is a new chart, and this the pair I will be looking to trading around

wednsday or thursday.

I noticed that you have weekend candles on your chart. Which broker you using? I prefer a New York closing chart and 5 candle a week chart. Since we are trading from Daily chart, the weekend candle give us false signals.

Happy pipping.

Im using gci and I have to say that I am less clued up when it comes to this broker thing.
And I will be on it after replying to this page.

thank you very much saliv,I have deployed to a 5 day close chart and new york closing.This is why this thread is better than the thread that is liked more than a thousand times and it is gem packed. You have just given me something that will make me to be on the same page as you are all the time of this trading life.

Nice pin bar rejection off resistance at 1.6300. I think its a decent setup as other pairs are correlating.

Entry 1.6274 (fib retrace of pin bar)
Stop 1.6320
Target 1.6175

GU Daily Setup

I’m short. I would really like to see it touch above the last high made in sept tho to take some stops. I think there might be another push up. Also on oanda their open position ratio tools is showing a lot of retail traders short.

Yeah there’s a possibility it may hunt the stops but I’ve decided to take the chance with a tighter stop. Good luck getting in the pips bro

Nice setup on EU and GU today. I’m with you on this trade exact entry, Stop and TP.

Happy Pipping.

Yep looks good for now bro.

Very nice work guys…

I’m in it also, got in at 1.6276

An update on the GU pair.
As we can see,the pair has failed to brake my sell signal and it has become resistant line eventually.If the trade continues to be boring like it will be closed be weekend.

Trade Update:

The pair is still hovering at the entry levels. It can’t break the 1.6270 level. We need to close today’s candle below 1.6270 area for a better result. See my chart to see the level that I posted two days before.

We traded the pair off the pin and we get a 50% of the wick for a better reward:risk. I avoid the EU because lack of a better R/R. But GU showing a nice setup. The setup is good because the GU clearly resist the 1.6300 level and print a pin bar.

The trend is still Up. The short is a counter trend. So it consist much more risk. If the pair close below 1.6270 then we can hope. Otherwise it may go up from here.

EU also showing the momentum to go up. The previous support turned resistance nicely supporting now.

I’m sticking with my trade. One of my exit level will kick me. Anything will happen. I will update it tomorrow.

@Zakuth: If you are trading with real account then Just cancel the order. If it demo then you can trade. Shorting at your level is risky for now. Better safe than sorry. Your R/R is poor.

Fingers crossed.

Happy pipping.

I understand Saliv. I don’t want to close trades manually since I have a stop in place, there is no need to close the trade as I’ve accepted the risk and I don’t want to be successful in closing trades,… it might turn into an emotional cost.

These guys seem to agree with you

Sorry man, I thought you put an entry order below the Pin bar. I didn’t understand your entry point is triggered. You are right on this practice. If we enter a trade then stick with the trade. Wait to trigger one of our exit point. We are fully accepted the outcome. No matter whether it TP ot Stop.

Good luck for all of us.

Happy pipping.

Lol… That’s good. :smiley: May be it’s a trick for traders to go short. :smiley:

Here’s the dollar index daily. Patience guys :slight_smile:

[QUOTE=Aesthetic;433808]Here’s the dollar index daily. Patience guys :slight_smile:

I have never come across this index,and its good that we can trade any security from the price action learned from forex.
Question:What is the direction of the trend on this one>

GU nicely moved south up to 70 pips so far. Stop moved to 1.6250 (20 pips locked). I Hope the TP will hit today. If not I will consider to close before market close.

What about you guys? Will you hold it for weekend?