The BEEB is great but (as you’ve already said), it closed near the recent lows, giving us no space to trade into.
IMHO, price might either:
Cheers
Hallo Pippatron,
@timeframes approach: I think you have that nailed down OK
@GBPAUD H4 trade: Entering at the low of the pinbar would have been a better play.
Entering at the break of the first trouble area worked this time but what if price had reversed on you there? Point to ponder…
Cheers
Hi everyone
I spotted a possible setup on AUDCAD H4. As you can see we have Bearish Engulfing bar with trend in a pullback. it is rejected by resistance. Although the candle is not closed yet and you know everything can happen. 
any opinion??
Thanks for the comments dudest. You are right about the better entry being just below the pinbar low…My entry increased the stop loss and lowered possible position size.
I shall start trusting the obvious PA more and use the trouble areas as points to move to break even or take partial profits.
Dear guys,
Just to update my trade on usdcad. Hit TP and get half of the profit, set the rest for breakeven and let it flow.
What do you think? Maybe this is not an A+ setup, but still can make some profit.
Thanks to Johnathon and others, though I am still learning but I really love the concept and it really helps me a lot, changing my mind about trading.
EJ
Hi) I want some help from senior members regarding VBRN,s(very big round numbers).So far theoratically i understood S&R levels,price action signals,FSA,FRA etc well enough.I am making misktakes though because i have no practical expereince of analyzing A+ setups.But i have no sound knowledge of using big round no,s in the analysis of A+ setups.So i would like to ask some questions.In case the presence of a big round no at the resistance area does the bearish PA signal candle suppose to close below the big round no so that,s mean the price is rejecting the big round no? And what does the big round no suppose to mean at the support area?In case if the vbrn is not like 0.9100 and it,s like 0.9106 so we need to round it off? Finally does the importance of the big round no stands equally with the PA ingredients while baking the A+ cake?
Thanks.
Tahir.
Now the usdcad formed BUEB on the support H4. but the big number 1.0000 is quite near.
will you trade this?
thanks
EJ
Hi EJ) I don,t like to trade this setup because it lacks proper S&R levels and secondly it,s a strong downtrend and i don,t want to trade against the trend.Just my personal opinion)
Thanks.
Tahir
Forex4, that looks like quite a nice level on the daily against the recent high. I would prefer a bigger pin bar and the NY session has not closed yet.
Hey EJ 2301,
I took this trade on the 4hr BUEB. When you look to the daily chart it appears to be in an uptrend with a pullback to a significant support.
I gave my opinion according to what i saw on his 4 hour chart.Aren,t you good to go if you have a nice setup at hand?Why shoul one wait for the closing of the session?
Correct me if I’m wrong but we want to wait for the candle to close because you don’t have a confirmed PA signal until then. I’m new to this but I have watched plenty of potential PA setups turn around before the candle closes. I like to also wait for the next candle after to confirm the market is doing what I think it is. Yes you might “waste” a few pips not getting into the trade right away at the swing, but better to wait for price to break your direction before entering. Safer, gives you a better edge.
Am I on the right track here?
Forex4, if you notice I was referring to the [B]daily TF[/B] and at the time of posting NY hasn’t closed yet so it was risky to preempt the action into NY close. If I was taking the PA setup on the 4H, yes that would have been valid to wait for the completion of BUEB candle and then jumping in on a buy stop for instance.
Hi,
Does below count as picking tops/bottoms?
Big 2BR (yes, IB at the same moment, but it looks to me more like a 2BR…) from proven weekly level.
Anyone sees any cons apart from being countertrend? I’m not taking as of the above reason, I have lost my all CT trades so far…
EUR/GBP (other EUR pairs in similar situation)
Dude, my guru…
I thought you mark levels on daily and wait at those on H4 for PA, but it looks like H4 levels and D1 looked different in this example. Please enlighten me
Fil
cheat sheet
I’d go even a step further and say: not only until a candle closes, but until it’s [B]broken[/B] in the direction that you’re trading.
Fil.
What I concerned is about the big round number 1.0000 is too close as the trouble resistance area.
If you look at the daily chart, it is an uptrend going on, but looking at the 5previous candle on daily, it is quite interesting to see several big bearish candle and also PB formed, which means the “sellers” are in control.
That’s my opinion.
Hope to hear from Johnathon as well and hear his opinion.
Thanks
EJ
Hasn’t closed bullish enough for me to be even considered.
right, so if i was watching a pin bar, i would wait not only for the pin bar to close but for the next candle to break before entering the trade.
And on that eurgbp chart i think i would look for this retracement to bounce off support and go with the trend.
same as eurusd.
