[QUOTE=LeonMiyavia;420342]Hi guys.:chart I'm unsure of is the NZD/USD 4hr chart, as it seems after the previous pin bar was formed, now it is forming another pin bar which might bring the candles to be bullish. What are your views?
Hi there Leon,
Great that you are joining in here. Just a couple of things though - Can you resize your charts as it is pretty hard to identify the latest ( & Most Important ) Price Action. I am not too sure if you are using New York close bars which is pretty much a requirement on this thread so that we are all looking at the same thing.
It is recommended reading the 1st 50 pages of this thread. Johnathon covers everything you might need there.
Just ask if you need help.
In response to your question on the NZD/USD H4 - The bar you refer to as a PinBar is not actually a PinBar.
The strict definition of a good PB is that it must be large enough to stand out from the crowd , it should have a nose that is at least 3 x the real body and it must close within the preceeding bar. Recent momentum is strongly Bearish and I would need an exceptional PA signal to consider any Long trade. In fact I will be watching now for a continuation down then a re-trace back to test recent Support now possible Resistance and try and enter Short.
Hope this makes sense mate.
Thanks Spongy - The Boss beat me to it but yep - I sure am . After 6 -7 years of Indicator Cr-p, I was still going nowhere real fast.! Found Johnathon's PA thread here on B/Pips which showed me the way to FSO. Jeepers - it was here in front of me all the time . I just did not know what I was supposed to be looking at. Thanks to Johnathon , you, Dudest etc ( sorry if I missed some out), I am finally starting to see what PRICE ACTION is telling me. So Much to Learn - So Little Time (LOL )