My thoughtless answer on this one is that it's a fake-out/bear-trap in that there is a two-bar reversal and then a SO/test. Also on the 5 min that pattern will look like a doji bar (indecision) on the 15min. An effective way to clear out over-head ...

Prez Forex (pres78) Trading Journal

Im honoured! Thanks and glad it was correct.

Prez Forex (pres78) Trading Journal

Hi Pres I think some people were looking for visual examples of a Pres2BR. I think I found one (didnt trade it sadly). Are you able to confirm it meets the requirements of your reversal criteria? Cheers Gav

Prez Forex (pres78) Trading Journal

Thanks Pres for taking the time to answer my questions. Much appreciated!

Prez Forex (pres78) Trading Journal

Pres, a couple questions if I may; What markets do you follow (assume you limit the amount)? Would you rather follow fewer and get inside that market or do you just set alerts for a lot of them and take the best setups as you see them? Does your ...

Prez Forex (pres78) Trading Journal

Intend on taking that attitude! Thanks Pres.

Prez Forex (pres78) Trading Journal

Two trades this morning. The winner AUDUSD I was pleased with entirely because I didn't tinker with it or mess about lowering the stop or trimming the position which is a bad habit Im in the process of getting rid of. The loser GBPUSD was ...

Prez Forex (pres78) Trading Journal

Brilliant stuff. Ive got a lot of work to do but I want to be that good! Please dont apologise for the long posts. I, for one, get a lot from them and Im sure others do too. Rinehart - good trade!

Prez Forex (pres78) Trading Journal

Yeah I saw that too although I couldnt find an entry like a NS. But it touched perfectly and didnt close below on the 5min at all. How/where did you get long?

Prez Forex (pres78) Trading Journal

Cheers Pres! Pres, can you tell us a little about when you start to disregard the previous days HVB and use the LO (or todays highest vol. 1hr bar)? Like today for example. Because of the high impact payroll news does that mean you simply choose the ...

Prez Forex (pres78) Trading Journal

Did a trade yesterday that yielded around 1:1.2. EURJPY. I didnt use the highest volume of the prior day but the highest that was closest to the range at LO. Is that something you would suggest against Pres?

Prez Forex (pres78) Trading Journal

Thanks for the description. Super helpful. Also I saw this earlier and it looked pretty text book (5min AUDCAD). I was in another trade at the time and Im not ready to manage multiple trades but it looked nice (in retrospect). The purple line ...

Prez Forex (pres78) Trading Journal

Makes perfect sense thanks! So the EURAUD trade is, based on your description, a re-test of the 50% after having made a new low and broken the range Low? If thats correct understanding then you would be looking for potentially another entry once the ...

Prez Forex (pres78) Trading Journal

Happy New Year Pres, Would you say its higher probability to take a nd/ns once price is outside the 1hr range as opposed to taking the equivalent entry off the 50%? Gav

Prez Forex (pres78) Trading Journal

Oh I see. I thought you were marking the 30 min highest volume on your chart not the hourly. That makes sense. Thanks.

Prez Forex (pres78) Trading Journal

Hi Pres How did you pick that zone from yesterday as it isnt the highest volume bar? Thanks Gav

Prez Forex (pres78) Trading Journal

Haha. 'fraid not.

Prez Forex (pres78) Trading Journal

Im a new subscriber to your thread here. Thanks for sharing all this information, its really interesting! Have a good Christmas. Gav

Prez Forex (pres78) Trading Journal

You should write a book. Keep up the good work!

A Basic Guide On How To Read and Trade The Markets