Auslanco - GBP/JPY and GBP/USD (newstrade)

Quoting dagoods

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AS FOREXNOVICE POINTED OUT LAST WEEK.... PA is king... here is "pinbar" on the weekly as it looks right now...... what would james 16 say?

here is amonthly PA snapshot... the arrow shows the resistance turned support.... that is currently supporting price... how long will it hold...will price retrace from here? how far will it retrace?

i have no idea lol ask Karm fn quecee etc...

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Quoting arezab

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Does anybody see this pin bar on daily time frame?
I think if another daily candle closes above previous bearish candle tomorrow (209.70 area), next week will be a bullish week with high probability to break 214 resistance and head up to 217.50 then we can count on bears and target 200 area.

If we see another major fall tomorrow which negates this nice pin bar, then then bears will continue their journey next week down toward 200 area.

I've been studying james price action thread and I think after almost 10 days bearish movement, such a nice pin bar counts (if it keeps).

What do you think?

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Quoting jarroo

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Don't believe everything you read.

Jim

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Quoting quecee5

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Lower Highs and Lower Lows spells Lower GJ. . .
Until GJ price has a 4hr close above 211.80 with a bullish second candle close GJ will be a sell on all rallies.

I've been following this same chart for two weeks now and it hasn't failed me yet. . . No reason for it to change now, needs to break out of the upper channel to make me a believer!

See chart below. . .

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Quoting forexnovice

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The MAN himself would definitely answer that if you posted this question in the James16 thread .

Here is a UJ Daily chart with Tuesday(highlighted bar) closing as PB with bounce from Monthly pivot 107.64. Entered at close of the daily bar (106.52) & Was stopped out today for +10pips.

Entered again at the monthly pivot.

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Quoting jarroo

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Good looking Pin bar . Bad location .

We want Pin Bars at the end of a trend of the current time frame. The longer the trend the better. There was a small trend the prior days and it did respond a little on the down side, but all in all not a good setup to play that Pin Bar.

The Pin Bar was a result of the rejection of the 107.80-90 S/R level, a great area to watch on the USDJPY.

Jim

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Quoting quecee5

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U r quite correct he shouldn't believe everything he reads. . .
However, all he has to do is read my post and look at my charts from 1week, 2week, and 3weeks ago which says volumes!

I do believe this forum would be a better place if we stick to analysis and charts instead of mindless dribble!

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Quoting jarroo

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Pin Bar info.

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Quoting OrionsWay

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What should i do now, im so confused!!!!, any pearls of wisdom among us,

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Quoting vinesh2

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Look to the stars for answers

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Quoting quecee5

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Here is an updated 4hr chart. . .

I will post this same chart next week to see how we fair.
See u's at the retest of the lows and maybe a break.

One thing to watch is UJ, if price starts to drop with a bearish GU then look out below. . .

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Quoting arezab

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Guys this Price Action is really gold. The more I read the better I see and understand the way this market moves and of course the clearer I see how many excellent trade I've lost because of waiting for some indicators to give signal just when that trade had almost reached it's end ...

This Price Action and skunny's fibo trading have unbelievably improved my trading ... I'm still studying Price Action and I don't use it in my trades yet but I've been using skunny's fibo levels in my trade since last week and 9 out of my ten trades hit target only by using fibonacci tool and no indicators or moving averages was used. I just place my orders and leave my computer, when I return I just get astonished of what happened.

Here is my trades for today. Those closed manually or those trades I changed their target to the start point which closed by 0 profit would have hit their target or at least closed with their trailing stops in profit if I didn't close or manipulated them emotionally. Even losing trades would have been profitable if I placed their stop loss a little wider and it was because I was not familiar enough with the movement pattern of that pair (like GBP/CAD which has very long candles). This was just a test and I see it works great.

I recommend everyone to go and study those threads.

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Quoting arezab

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Does anybody see this pin bar on daily time frame?
I think if another daily candle closes above previous bearish candle tomorrow (209.70 area), next week will be a bullish week with high probability to break 214 resistance and head up to 217.50 then we can count on bears and target 200 area.

If we see another major fall tomorrow which negates this nice pin bar, then then bears will continue their journey next week down toward 200 area.

I've been studying james price action thread and I think after almost 10 days bearish movement, such a nice pin bar counts (if it keeps).

What do you think?

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Quoting trader1024

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hey arezab,
u can also check james16 thread or if u want to learn more abt it u can check his paid forums as well ..yea price action is very good ..combine it with indicators(ema,fibs,pivots etc) it will give u an early entry and amazing results ...inside bars and outside bars are also worth learning about..works well on the longer TF charts ...

Regards
Thomson

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