Quote:
Originally Posted by johnnykanoo
bruce i see a nice pinbar forming on the daily (maybe) and the last 4h was a pinbar. A pinbar by itself doesnt mean much but when it forms at a swing high or swing low than i pay close attention.
short at 1.4100
p1 1.4000
p2 1.3925
s/l 1.4200
its only my ideas on the pair and phil may say something different.
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I agree with Johnny, but for different reasons... And that's a good thing! If two different types of analysis give you the same result it usually means they're both good methods.
My reason for a short around here is the same as the GBP/USD trade I called earlier, but didn't work out. The two pairs are mildly correlated, and the same scene is playing out on EUR/USD right now.
You'll notice we actually missed the entry, but it retraced anyway so we can still get in. It's a good short to me because there's a long wicked candle that formed a bit past the trendline area and in the S+R zone, which signals a possible reversal. Then the next candle dipped below the reversal candle, and that's your entry!
