And as always just because this is not A+ does not mean it will not work out! I am not saying it will not work, i am saying over time they lose more than they win.
True, you have proved this in the past. And thanks for reminding us again ( lesson: average setups lose more than they win over time
Okay for me:
Way to small compared to previous candles. Very small and indecisive,
Not formed at a swing high but rather a low. Trading from a low will mean you are trading into support and we must trade away from these levels.
@Way to small compared to previous candles: you’ve told me that before (!), wonder why i keep forgetting it => big & obvious it should be, right?
@Not formed at a swing high: makes sense. I think i’m understanding better why we look for pullbacks => because they create swing highs (in this context)
Yes the BEEB was rather large and obvious! Nice post and yes your are getting there. Next after you have learned exactly what makes A+ comes the hard bit and managing trades to maximise profit whilst protecting capital.
I still don’t quiet understand the difference between engulfing bars, inside bars, and 2 bars reversal.
i do understand with the engulfing bars, but not with inside bars n 2 bars reversal, coz they are like pretty much the same with engulfing bars.
Could you give me a little bit explanation with examples?
Don’t be to rush to answer my question, I know my questions sounds like silly and very basic, maybe i’m the only one who ask this in this thread hahha… an maybe it’s a little bit to late after so much pages in this thread…
I figure I will make a small post to add some help. Please let me know if you still do not understand.
The Pin bar, Engulfing bar and two bar reversals are all reversal signals. They can both be played from against the trend or with the trend. They need to be played from swing point. Trading from pullback within the obvious trend is by far the way to go!
You understand the engulfing bar so I won’t post about this.
The Two Bar reversal:
Okay so this was a setup i discussed live in this thread. It was a 2 bar reversal at support on the USDCHF daily chart. Okay with the engulfing bar the bar must fully engulf the previous bar. With 2 bar’s this is not the case. The best 2 bars are the bars that close above or below the previous bar. In other words for this example the 2nd bar closes above the first. If it was a bearish 2 bar we would look for the second bar to close below the first bar. Make sense?
There is heaps of info on this on videos I gave link to above
INSIDE BAR:
until you have learnt how to play the above signals with and against the trend and from good levels give the inside bar a miss. This will eat you alive until you have worked out the above.
I get it now, Thank You so much Johnathon. U are such a great teacher… from now on I’ll learn Price Action and keep my chart clean. :). and I’m interest to register your Price Action course…
I saw this pin bar and from expierence took the buy, but my only question is MACD has crossed and is heading down as well as CMF is showing alot of selling pressure / Weak Market. So will the power of the Pin Bar move forward? From my trading these in the Past to get a clean Pin bar on a weekly chart was a surefire move of a least 50%. I will keep you guys updated on this t rade, I am still in it and the weeks is young!
Okay so thought I would post 2 pin bars. one has already been posted but I will post again.
USDCAD 4HR chart:
Lovely big and obvious pin at resistance. We would look for price to drop to the bottom of recent traffic which has done now. From here anything could happen.
If this pin breaks lower trouble comes in at the recent bar highs. The chances of price going to this level should the pin break would look high. From there price going either way would not suprise so traders who take this keep that level in mind!