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what happens next? Price action training

  • #61
  • Dec 28, 2016 11:12am Dec 28, 2016 11:12am
Quoting Kamnoi
I would wait for short setup on this one. {image}
Same

It's USDJPY M5 btw
  • #62
  • Dec 28, 2016 1:24pm Dec 28, 2016 1:24pm
Quoting Kamnoi
I would wait for short setup on this one. {image}
Did you catch it?
  • #63
  • Dec 28, 2016 7:30pm Dec 28, 2016 7:30pm
Quoting simond2002
{quote} Did you catch it?
No,I didnt. End of the year and I am not in good condition besides because I catch a cold last weekend. so I decided to stay away from the market during the rest of the year. now I just enjoy the thread.
  • #64
  • Dec 28, 2016 7:32pm Dec 28, 2016 7:32pm
Quoting price777999
{quote} 1.04560 ?
I'm not a breakout trader
Learn, a forex trader must, unlearn and relearn he will.
  • #65
  • Dec 28, 2016 7:38pm Dec 28, 2016 7:38pm
Attached Image (click to enlarge)
Click to Enlarge Name: waiting5.png Size: 48 KB
Learn, a forex trader must, unlearn and relearn he will.
  • #66
  • Dec 29, 2016 3:24am Dec 29, 2016 3:24am
Quoting Kamnoi
{quote} No,I didnt. End of the year and I am not in good condition besides because I catch a cold last weekend. so I decided to stay away from the market during the rest of the year. now I just enjoy the thread.
  • #67
  • Dec 29, 2016 3:27am Dec 29, 2016 3:27am
Attached Image (click to enlarge)
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  • #68
  • Dec 29, 2016 3:39am Dec 29, 2016 3:39am
Quoting COGSx86
{image}
Top, bottom and middle of this market on this TF.

Would trade each accordingly depending on the PA that sets up once price arrives. On current chart I don't see an opportunity yet so would need to wait until something sets up.

Point of interest on that top - even though it's a higher-high, quite often the market will form a double-top here, and these can be very lucrative to trade. If price is going to go higher there, however, it will often form a bull-flag just underneath prior to breaking out. Can be trickier to trade but re-assuring to witness because it helps form a clearer understanding of what is at play.

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  • #69
  • Dec 29, 2016 3:54am Dec 29, 2016 3:54am
what is it ?
  • #70
  • Dec 29, 2016 3:57am Dec 29, 2016 3:57am
The trade has already been and gone on this market. Can anyone spot and annotate it?

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  • #71
  • Dec 29, 2016 4:25am Dec 29, 2016 4:25am
short at last swing point before breakout ?
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  • #72
  • Dec 29, 2016 4:51am Dec 29, 2016 4:51am
Quoting Kamnoi
short at last swing point before breakout ? {image}
Spot on

It's GBPJPY M5
  • #73
  • Dec 29, 2016 4:59am Dec 29, 2016 4:59am
Quoting Kamnoi
short at last swing point before breakout ? {image}
yep took the exact trade
  • #74
  • Dec 29, 2016 6:08am Dec 29, 2016 6:08am
Quoting simond2002
{quote} Top, bottom and middle of this market on this TF. Would trade each accordingly depending on the PA that sets up once price arrives. On current chart I don't see an opportunity yet so would need to wait until something sets up. Point of interest on that top - even though it's a higher-high, quite often the market will form a double-top here, and these can be very lucrative to trade. If price is going to go higher there, however, it will often form a bull-flag just underneath prior to breaking out. Can be trickier to trade but re-assuring...

Interesting concept, with regards to the "bull-flag", I never called it that before.
Attached Image (click to enlarge)
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Learn, a forex trader must, unlearn and relearn he will.
  • #75
  • Dec 29, 2016 8:31am Dec 29, 2016 8:31am
Quoting simond2002
{quote} Spot on It's GBPJPY M5
thanks. you gave a nice chart. I tend to make things complicated. It was a good exercise to remember basics - love this keep it simple chart!
  • #76
  • Edited 4:07am Dec 30, 2016 3:55am | Edited 4:07am
Was going to post this last night but it was getting a bit late. Came back to it this morning and what played out can be worth a look.

What happens next?

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  • #77
  • Edited 5:30am Dec 30, 2016 5:13am | Edited 5:30am
Quoting COGSx86
Interesting concept, with regards to the "bull-flag", I never called it that before.
A nice example from this morning (initial "supply" didn't form the higher-high but PA is quite demonstrative):

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  • #78
  • Dec 30, 2016 5:49am Dec 30, 2016 5:49am
i've only just started trading gbp/jpy ...seams to move well
  • #79
  • Dec 30, 2016 5:54am Dec 30, 2016 5:54am
You think it can take out the high's?
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  • #80
  • Dec 30, 2016 5:55am Dec 30, 2016 5:55am
Quoting price777999
i've only just started trading gbp/jpy ...seams to move well
I've found it one of the best pairs to trade. When it's asleep, which is not that often, I tend to trade EURUSD on very low TFs. The only other pair I watch is USDJPY.
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