There is no right or wrong in forex. That you will learn over time.
I am sorry though I am very confused over your trade idea. Maybe someone else watching this can shed some light and help a little…
Hi Johnathon
Thank for highlighting this important point. Though I have read in Babypips that trades tend to be thin on NY Fri afternoon where people either close existing positions or do not commit to new trades, I have overlooked to check this on the 4hr pin.
Many thanks again!
Look at it this way: in the same way that a square can be a rectangle (by definition), but a rectangle is not a square: an engulfing bar can be part of a 2-bar reversal pattern. But an engulfing bar is also a distinct setup on its own.
With 2BR, the important thing is: is the 2nd bar negating (cancelling) the action of the 1st bar?, and are the two bars similar in form?
With EB, the engulfing bar just needs to completely cover the first bar (body, wicks and all)
If an EB is formed (i.e whole candle engulfs previous candle) and the candle being engulfed appears similar in form to the engulfing candle, this is still a 2BR.
Makes sense?
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closed AUDJPY with nice profit
entered LONG on GBPJPY, nice 4 HR pin bar
EDIT: I’ve just realized it’s not really a pin bar, is it ? Impatience, my worst enemy.
Hi szatek,
Posting up a chart or two helps us get a good idea of your trade! 
The JPY’s have formed pins on H4, though as I see them, they are not true pinbars (at least for GBPJPY, EURJPY, USDJPY), since their bodies are not within the candles preceding them. AUDJPY pin looks more valid, but for me, has not formed at any important S/R, so I’m just watching it…
PS: still in the AUDJPY trade! If price does climb, and take me out at (several pips of profit), will still count it a winner. My final target is 82.60
Yes this is with the trend. What would you say about the level? What would your opinion be about the swing point and area?
Thanks in advance.
Johnathon
No not technically a pin bar as it does not close with in the previous candle. It is also rather small compared to the large down move you are trading against. It is however a reversal signals and from a clear swing point. It has also began moving higher for you so good luck!!
Seems like we giving questions to questions simultaneously Johno, sorry didnt see you were online.
I am only ever online when my email beeps at me because someone has posted in here…
i’ve noticed it…
i know, i’ve to study a “little” more!!
Sorry to go off the topic but, have you seen this thread is fast approaching 1000 posts and 45 000 views!
OMG!
Hi Guys!
I’ve been following this thread for a month now and find it invaluable! I am really fond of Price Action as a trading style and have been trying trading according to what’s been presented in this thread. I believe this is a key to success in trading Forex and I would like to join you in posting charts, asking questions and commenting on the trade ideas to learn more. Many thanks to you for keep this thread running - especially Johnathon!
Safe trading,
Pawel
Hi Guys.
What do you think about this chart?
This is a weeakly chart of audcad.
The price reacts to the suport zone with a nice green candle last week, i think in next weeks the price can test the 1.05 resistence zone
Nice 2BR pattern on Eur/Usd 8hour chart at big round number and previous support. Within the range Eur/Usd has been making lower highs so I’m abit cautious of this long position. Have already taken partial profit and moved stops to breakeven.
hi everyone and thank you johnathon for this wonderful thread!
i was wondering since i live in the new york time zone is it best to wait until 5pm when the daily candles close to make trading decisions as far as entries go? does it help that i am in a time zone that makes me available at 5pm ny close or is there no difference?
also about getting the 5 day candles with new york close in mt4 mentioned earlier (i’m only on page 23 now in case there has been an update on this). is this an expert advisor or mt4 script or a separate program? since i am in the same time zone as new york do i even need this?
EURAUD might be a nice long of the daily chart in an hour. What do you all think?