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Price Action - CTA + Trader Psychology

  • #361
  • Edited 8:09am Sep 29, 2023 12:15am | Edited 8:09am
Quoting pipibrasci
{quote} GBPUSD H4 (Battered) Failed Falling Wedge PO met. Possible Price Action Scenarios {image}
GBPUSD H4 Update

Bounce off that 76.4% fib Pullback level.
Retracement 23.6 & 38.2 fib levels met. Next 50 level + trendline confl?
Could it take a break back to 23.6 and then aim for 50%/61.8%?

Quoting pipibrasci
{quote} GBPUSD H4 Update Bounce off that 76.4% fib Pullback level. Retracement 23.6 & 38.2 fib levels met. Next 50 level + trendline confl? Could it take a break back to 23.6 and then aim for 50%/60%? {image} {image}
GBPUSD H4 Update

50% fib level taken out.
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Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #362
  • Edited 9:36am Sep 29, 2023 8:50am | Edited 9:36am
CADJPY H4 ~ Rising Wedge

Its Friday guess market rounding up for the week.
Not sure short term scalp will hit target soonest. (30pips from price)

Quoting pipibrasci
CADJPY H4 ~ Rising Wedge Its Friday guess market rounding up for the week. Not sure short term scalp will hit target soonest. (30pips from price) {image}
CADJPY H4 Update

That was pretty fast.
First Target (short scalp) met.

Massive Bearish Engulfing candle formed. Sellers stepping in.
Nice setup (shorts) going into next week.

Quoting pipibrasci
CADJPY H4 ~ Rising Wedge Its Friday guess market rounding up for the week. Not sure short term scalp will hit target soonest. (30pips from price) {quote} CADJPY H4 Update That was pretty fast. First Target (short scalp) met. Massive Bearish Engulfing candle formed. Sellers stepping in. Nice setup (shorts) going into next week. {image} {image}
CADJPY H4 updated

Oh dear still AXEING!
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Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #363
  • Sep 30, 2023 6:52am Sep 30, 2023 6:52am
One of the greatest skills to acquire in trading is market observation.
-trend
-structure/pattern
-price action
-price inaction
Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #364
  • Sep 30, 2023 6:59am Sep 30, 2023 6:59am
Quoting pipibrasci
What is/are your favorite Price Action trading style(s)? A. Trend following B. Reversal trading C. Range trading D. Breakout Trading E. Pull Back Trading F. Fake out Trading G. Break and Retest Trading H. Counter Trend Trading
For me;
B,C,D,H.

A is the Holy Grail!

I'm working my ass off to master it.
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Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #365
  • Sep 30, 2023 7:28am Sep 30, 2023 7:28am
If indicators do not work most of the time how and why on earth do you take entry signals off indicators?
That is pure luck if it goes your way. 80% -95% indicators are lagging.

Price action first then you become objective with indicators and know what indicator(s) would best fit and compliment your system.

Made same mistake as a beginner... indicators before price action.
Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #366
  • Sep 30, 2023 7:35am Sep 30, 2023 7:35am
- SMALL LOSS
- BREAKEVEN
- SMALL WIN
- BIG WIN

RINSE & REPEAT for the next 100 trades.
Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #367
  • Sep 30, 2023 8:11am Sep 30, 2023 8:11am
What do you hate most about trading?

Me: The moment I get into a trade and it never turns green .

I've come to terms with it. You can never have an 80% win rate system long term!

So stop hopping from system to system or strategy to strategy (& be mindful of FF). You will never find a 80% win rate trading system.

Focus more on Risk Management, Discipline and Consistency.

+ I'm 5 today!
Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #368
  • Edited 10:11am Oct 2, 2023 9:56am | Edited 10:11am
Suddenly the Dollar and Yen are in sync! Smh.... likewise Euro and Swiss Franc

Meanwhile,

USDJPY D1 TF
Who's gonna pop first!?
https://www.forexfactory.com/thread/...7#post14594507
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Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #369
  • Edited 11:21am Oct 2, 2023 10:04am | Edited 11:21am
Quoting pipibrasci
CADJPY H4 ~ Rising Wedge Its Friday guess market rounding up for the week. Not sure short term scalp will hit target soonest. (30pips from price) {quote} CADJPY H4 Update That was pretty fast. First Target (short scalp) met. Massive Bearish Engulfing candle formed. Sellers stepping in. Nice setup (shorts) going into next week. {quote} CADJPY H4 updated Oh dear still AXEING! {image} {image} {image}
CADJPY H4 Update

Taking it's time.
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Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #370
  • Edited 10:47am Oct 2, 2023 10:22am | Edited 10:47am
Quoting pipibrasci
Suddenly the Dollar and Yen are in sync! Smh.... likewise Euro and Swiss Franc Meanwhile, USDJPY D1 TF Who's gonna pop first!? https://www.forexfactory.com/thread/...7#post14594507 {image} {image} {image}
USDJPY Chart Updated (D1)

Channel added. Makes more sense now. Will it break out of channel or reverse from there ? We have a rising wedge which it broke out of and not certain price will fall back in.

at to see what is gonna happen inbtw the intersection lines (upper Channel line + Resistance) .
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Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #371
  • Oct 2, 2023 3:21pm Oct 2, 2023 3:21pm
Quoting pipibrasci
{quote} EURJPY H4 Update Support yet to be broken. Price bounced off support zone, heading for resistance?...accumulating volume & enticing retail traders. {image}
EURJPY Update

Price rose to resistance and was rejected immediately and sent back to support once more by sellers. Pressure mounting.

Diamond Top pattern taken out of context as price made a mess of it though left some hint of what could be expected.
Focus now on Rectangle (S/R) and breakout. Could this likely to happen soonest?
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Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #372
  • Oct 3, 2023 1:54am Oct 3, 2023 1:54am
Quoting pipibrasci
{quote} CADJPY H4 Update Taking it's time. {image}
CADJPY Update

PO met.
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Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #373
  • Oct 3, 2023 3:00am Oct 3, 2023 3:00am
EURCHF D1/H4 ~ Rectangle (Breakout) Reversal?

If price maintains its push (closes) above the trendline, we could have ourselves our PO in the short term.
Price broke out of rectangle (resistance) and tested it again. H4 candle with strong push to the upside again.
PO roughly +115pips from price.
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Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #374
  • Oct 3, 2023 8:58am Oct 3, 2023 8:58am
Quoting pipibrasci
{quote} GBPUSD H4 Update Bounce off that 76.4% fib Pullback level. Retracement 23.6 & 38.2 fib levels met. Next 50 level + trendline confl? Could it take a break back to 23.6 and then aim for 50%/61.8%? {quote} GBPUSD H4 Update 50% fib level taken out. {image} {image} {image}
GBPUSD H4 Update.

Price visited support 3 eventually. Bounced off support 3, 50% fib retracement (counter trend) realistic short term. roughly +75pips.
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Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #375
  • Oct 3, 2023 9:18am Oct 3, 2023 9:18am
Quoting pipibrasci
{quote} EURJPY Update Price rose to resistance and was rejected immediately and sent back to support once more by sellers. Pressure mounting. Diamond Top pattern taken out of context as price made a mess of it though left some hint of what could be expected. Focus now on Rectangle (S/R) and breakout. Could this likely to happen soonest? {image}
EURJPY H4
and it POPPED!
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Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #376
  • Oct 3, 2023 9:47am Oct 3, 2023 9:47am
Quoting pipibrasci
Suddenly the Dollar and Yen are in sync! Smh.... likewise Euro and Swiss Franc Meanwhile, USDJPY D1 TF Who's gonna pop first!? https://www.forexfactory.com/thread/...7#post14594507 {image} {image} {image}
USDJPY D1/H4 (Updated chart)

Guess we call it tops!
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Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #377
  • Oct 4, 2023 7:24am Oct 4, 2023 7:24am
Quoting pipibrasci
{quote} GBPUSD H4 Update. Price visited support 3 eventually. Bounced off support 3, 50% fib retracement (counter trend) realistic short term. roughly +75pips. {image} {image}
GBPUSD H4 Update

50% fib retracement.

61.8% next + resistance i.e "2" previously support (confl)?
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Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #378
  • Oct 4, 2023 1:37pm Oct 4, 2023 1:37pm
Quoting pipibrasci
EURCHF D1/H4 ~ Rectangle (Breakout) Reversal? If price maintains its push (closes) above the trendline, we could have ourselves our PO in the short term. Price broke out of rectangle (resistance) and tested it again. H4 candle with strong push to the upside again. PO roughly +115pips from price. {image} {image}
EURCHF H4 Update

Did not happen.
Wait again.
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Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #379
  • Edited 1:23pm Oct 5, 2023 1:02pm | Edited 1:23pm
Quoting pipibrasci
{quote} GBPUSD H4 Update 50% fib retracement. 61.8% next + resistance i.e "2" previously support (confl)? {image}
GBPUSD H4 Update

"Target 2" taken out as well.

Noticeable key D1 fib rert. levels 76.4 and 61.8.

"Target 1"/61.8 fib (resistance) in sight in the short term as price breaks and should it close above trendline. Some breather for the pound hopefully.

The D1 Tf shows a 3bar pattern bouncing off a major support Zone.
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Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #380
  • Edited 1:41pm Oct 5, 2023 1:08pm | Edited 1:41pm
A certain chart pattern/candlestick pattern becomes common across most FX pairs.

Broadening Wedge & 3 Bar pattern
Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
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