-> KHL: check!
-> Swing point: check!
-> Size of pinbar (ASSUMING IT CLOSES THIS WAY): check!
Now my only concern is SPACE TO TRADE INTO. There are (at least) two trouble areas above that pinbar that could stall/halt the climb upward. And (personally), only for that reason would I stay out of a good-lookin’ POTENTIAL trade like this
A few people have explained this to you, but I get the feeling you may not be 100% be understanding what they are trying to explain.
This is critical. The area you made this trade from was a horrible area to trade from. It was smack bang in the middle of no-mans land and this is somewhere we never want to be getting into trades. You experiences a tug of war between the bulls and bears and you are going to keep experiencing them if you keep enetring in those areas.
When you enter in the middle the bulls and bears and going through a fight to work out who will push price where. You don’t want to be taking a part of this fight because this is when price can whipsaw in any direction and it can be no fun at all.
This is when you need to sit on the sidelines and wait for price to move into your key levels and then trade when the market has shown it’s hand. You have your key black levels marked. ( I am guessing they are your levels?) These are the only two levels you should ever be trading from. You should not be doing anything in the middle of that rubbish.
I recently made an article on this discussing this exact subject because I noticed a lot of people struggling with it. You can find it with the rest of the articles. If you have any questions please let me know and when I am back in here in a couple of days I will answer or Bryce, Dudest will help you out.
This is really crucial so don’t be shy about asking questions.
Don’t ya just love when you have one of those “AHA” moments? They are awesome! You can walk around for weeks felling confused and then all of a sudden sometimes without knowing why just all of a sudden “AHA”! and it clicks!
That was actually for something else, but never mind…
Don’t worry I have full dialogue with the site admins and understanding. As soon as I post links or videos I send it over to them for approval. They will then say yay or nay. This time they wanted me to take things of my page on Forex School Online which I am not going to do obviously.I would rather take the link off babypips post than change FSO site. Other times they let me leave the link or video if it meets criteria.
Basically it just has to meet the criteria of in line with being in spirit of babypips education, which pretty much all of the links are and if you go through the thread there are a couple of hundred links that have been approved and they are all in line with this.
What do y’all think of the pinbar that’s formed at resistance on AUD/CHF H1? Price has respected this level twice before. My original plan was to short at the break of the previous bullish bar @ 0.88434, SL just above the pinbar high. I’m hesitant now as the pinbar isn’t all that large, which is something we look for on the smaller timeframes.
I don’t believe I can attach a chart as this is my first post here.
@tomyates - on the day chart there is a bullish engulfing bar suggesting a bullish reversal. i will be waiting for a move in the opposite direction as this is a key s/r area
Hi guys, I’d love to be a member of this super onward family of price action traders. I am through with the first 100 pages and made a couple of trades on my own. Hope I’d learn better interacting with you guys
Entry = 128.20 (happens to be above a RN)
S/L = 125.84 (at recent support level)
TP = 129.80
I plan to move my SL to breakeven as soon as price reaches 129.00 (top blue line) as there is a resistance zone where price might stall. Final TP at 129.80 below the BRN of 130.00 which acted as support/resistance in the past few weeks several times.