as long as the other side of the pin is not taken out it remains valid.
It can stay this way for many days. The pin is a reversal candle and it can take a while for price to build the orders for the market to reverse. This is also why quite often you will see a pin bat and then an inside bar straight after. This is the market shifting orders and getting ready for the market to reverse.
So there is no rush and contrary to popular belief this waiting can actually be a good thing and a building of orders for the reversal of the market.
Johnathon, is there some kind of way to adapt PA trading to lower time frames like 15, 30 minutes?
Im trying to win a trading contest to boost my deposit but it lasts only 1 week so its hard with 1 A+ setup/week any suggestions?
Any thoughts on EURJPY.
6hr showing 2BR at an level where resistance has held in the past.
Not the greatest 2BR and i would prefer it with the trend, but the level is good.
It has now been tested 4 times on the 4HR chart and is the most logical swing high on the daily chart in my eyes. Where would you be looking to short it from?
Here one different point of view…
1)We have PB on Support zone and VBRN 78.000
2)We have IB after PB who tell us if price break it it will go up
3)The momentum is up
The EUR/GBP is sitting right on top of a major support level. It served as resistance for the range that started in March, where we broke out of two weeks ago. I would rather look for that level to serve as support now.
Congrats mate on hitting the 1000 page mark and I see this thread is heading towards an epic 1 million views. All down to your hard work and perseverance, it is very very difficult to keep these types of threads on track in public forums but you’ve managed it.
if your gotta do it you have two options. Stick to higher timeframes and load up on each trade risking large chunks of your account (obviously only if it is a demo account) to get anywhere in these contests you have to pretty much risk 100% of your account every trade and hit winner after winner. The winners will end up with thousands of percent in a few weeks or months and the only way to get that is to risk the whole account trade after trade and get lucky. The other option is go to smaller timeframes and use the same methods as what you would on higher timeframes and hope you don’t get hit out on too many false breaks and false moves.
Good luck.
PS: I highly, highly, highly do not advise trading contests. They encourage bad trading and before you know it your are trading with a swag of bad habits and a lack of discipline.