Pro7 PA trading analysis 28+GOLD | Page 125 | Forex Factory

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Pro7 PA trading analysis 28+GOLD

  • #2,481
  • Dec 7, 2020 5:06am Dec 7, 2020 5:06am
Quoting nts0904
{quote} As shown in image, would you wait for a candle to close above R to buy and close below S to sell? I really like pattern you share, I'll be looking at similar setup.
it was just an image, here is EURUSD break out example on H1
for me this look like nice buy pullback and entry buy should be @ 1.209954 - 1.20729
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.png Size: 36 KB
Forex can only be understood backwards, but it must be traded forwards.
  • #2,482
  • Dec 7, 2020 5:27am Dec 7, 2020 5:27am
Quoting prozor7
{quote} it was just an image, here is EURUSD break out example on H1 for me this look like nice buy pullback and entry buy should be @ 1.209954 - 1.20729 {image}
EURUSD
my live trade:

fishing 2 buy @ 1.20900 & 1.20916
1 buy closed @ 1.21066 took 15 pips leave rest to ride

EA will open new trade @ 1.20900 if this one closed by PA move
Attached Image
Forex can only be understood backwards, but it must be traded forwards.
  • #2,483
  • Dec 7, 2020 5:57am Dec 7, 2020 5:57am
EURUSD
for me
PA above 1.19546 buy TP 1.23178
with this said I will go smaller TF to spot a buy pullback
Attached Image
Forex can only be understood backwards, but it must be traded forwards.
  • #2,484
  • Dec 7, 2020 6:22am Dec 7, 2020 6:22am
EURCAD
open H4 chart look for that range 1.55277 - 1.54770

what do you believe

break up 1.55277 and if it does break where PA should go
break down 1.54770 and if it does where PA should go
Forex can only be understood backwards, but it must be traded forwards.
  • #2,485
  • Dec 7, 2020 6:53am Dec 7, 2020 6:53am
Quoting prozor7
EURCAD open H4 chart look for that range 1.55277 - 1.54770 what do you believe break up 1.55277 and if it does break where PA should go break down 1.54770 and if it does where PA should go
This is what I think.
Attached Image (click to enlarge)
Click to Enlarge Name: EURCADH4.png Size: 42 KB
  • #2,486
  • Dec 7, 2020 7:16am Dec 7, 2020 7:16am
I baught Eurcad off monthly support
  • #2,487
  • Dec 7, 2020 7:24am Dec 7, 2020 7:24am
Nts0904 I am understanding support and resistance better now, I believe that your green arrow showing resistance is too low. Price should penetrate that level.
  • #2,488
  • Dec 7, 2020 7:30am Dec 7, 2020 7:30am
AUDCAD
D1 sell - pay attention to 0.94928 as support if PA stay above D1 should enter buy mode
Attached Image
Forex can only be understood backwards, but it must be traded forwards.
  • #2,489
  • Dec 7, 2020 7:39am Dec 7, 2020 7:39am
Hi Prozor. Aucad above 0.95 is a buy.
  • #2,490
  • Dec 7, 2020 7:51am Dec 7, 2020 7:51am
Quoting Houtbay
Nts0904 I am understanding support and resistance better now, I believe that your green arrow showing resistance is too low. Price should penetrate that level.
You're right, I usually use levels to define the SR, so it can be wrong sometimes.
Can you share a chart of your understanding of SR? I am happy that we discuss it on the charts.
  • #2,491
  • Dec 7, 2020 8:07am Dec 7, 2020 8:07am
Quoting nts0904
{quote} You're right, I usually use levels to define the SR, so it can be wrong sometimes. Can you share a chart of your understanding of SR? I am happy that we discuss it on the charts.


Houtbay post you charts, later in the week you can see more clearly how did you analysis go.
Forex can only be understood backwards, but it must be traded forwards.
  • #2,492
  • Dec 7, 2020 8:57am Dec 7, 2020 8:57am
Quoting prozor7
{quote} EURUSD my live trade: fishing 2 buy @ 1.20900 & 1.20916 1 buy closed @ 1.21066 took 15 pips leave rest to ride EA will open new trade @ 1.20900 if this one closed by PA move {image}
EURUSD
update
close buy 1.21600

I would like to see 1.21400 - 1.21200
Attached Image
Forex can only be understood backwards, but it must be traded forwards.
  • #2,493
  • Dec 7, 2020 11:29am Dec 7, 2020 11:29am
My last post for the day, but I am possibly now selling Gbpusd. Have a look.
  • #2,494
  • Dec 7, 2020 5:55pm Dec 7, 2020 5:55pm
Good morning from Australia
Hope my question is not too unrelated, but do any of you trade during the Asian session? The Asian session is during the day here but a few other traders have advised me that is much less reliable and not to bother, but to waiting for London or so to open at least. Just rethinking about the absolute best time to trade and appreciate any other traders (particularly fulltime) advice! Regards!
  • #2,495
  • Dec 7, 2020 10:17pm Dec 7, 2020 10:17pm
Hi Four owl, I trade South African time from London Open to Us Open. The market I think is slower during the Asian session, however if the set up is right than it does not matter which session you trade through. An example is the Gbpusd from yesterday, one could have held it through the Asian session.
  • #2,496
  • Dec 7, 2020 10:34pm Dec 7, 2020 10:34pm
Don’t let the session deter you, everything is about the set up and timing. Have a look at Eurusd it’s the Asian session but one can still buy. The secret is knowing when to buy or sell and when to take profit and cut positions.
  • #2,497
  • Edited Dec 8, 2020 12:28am Dec 7, 2020 11:03pm | Edited Dec 8, 2020 12:28am
Quoting Houtbay
Don’t let the session deter you, everything is about the set up and timing. Have a look at Eurusd it’s the Asian session but one can still buy. The secret is knowing when to buy or sell and when to take profit and cut positions.
Thanks very much for getting back to me. I will maybe give the Asian session more time or maybe a bit stricter better setups then. I did buy gold but got out a bit early based on this thinking that the Asian session is less reliable, and left a fair bit of profit behind. I will monitor it but watching for widened spreads and other things! Much appreciated!!
I use a simple PA style approach (with Al Brooks kind of the approach I like although he is probably too indepth for me) with a 20EMA. I do use a GMMA (Daryl Guppy's multiple moving average) indicator on the chart, not for signals but to help me visual trend, strength and to help me avoid my bad past habit of doing counter trend scalps (although yesterday on GJ or gold after their big sell off I made a few pips). I will post a chart later. My biggest problem is not picking good entries as I have good intuition and 'gut', it is not being 'wiggled out' and not taking enough profits! I would seriously double my profits if I stop worrying all the time! lol!!
On the chart below you can see the buy and sell arrow in that I took too little from my Asian H1 trade on Gold!!
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-12-08_16h26_43.png Size: 114 KB
  • #2,498
  • Dec 7, 2020 11:09pm Dec 7, 2020 11:09pm
Prozor and nts0904 have shown me, and it only clicked yesterday that all one needs is to read price movement and levels(support and resistance). With this one has understood real trading and this is where the edge lies.
  • #2,499
  • Dec 7, 2020 11:20pm Dec 7, 2020 11:20pm
Hi

Expecting gold to drop to 1957 again, then rise to 1898,slag at that area, then we go to 1928
  • #2,500
  • Dec 8, 2020 4:14am Dec 8, 2020 4:14am
good day to all
Forex can only be understood backwards, but it must be traded forwards.
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