I see. The same here, but only for intraday trades on Friday. For D1 chart and above tf, I have no problem to open a new trade even on Friday.
The pinbar looks smallish for a CT trade. It still can work, but not an A+ trade setup in my personal trade plan.
Aud/USD= kaaaaching!
Some nice daily IBs formed today, USD/chf, GBP/nzd.
Cheers
I don’t know how to say this any other way. Trading with the obvious trend is the easiest way to start increasing the chances of making winning trades. We talk about this a lot. And the opposite of this is also true; taking trades against the very obvious trend is the easiest way to make losing trades.
Now in saying that there are times when we can play both side i,e take counter trend trades, but we have to be smart about it. We need to pick our times when we make a counter trend trade. If we know that taking a CT trade is going to be less high probability than with the trend, then we know we have to is less often and only when there is better reasons for doing it.
In other words and to be really frank; taking really small pin bars that are at extreme highs against really strong trends and small engulfing bars against strong trends is not going to get us very far for very long in the PA trading game. Yes they will work out here and there and as we know all PA signals work out from time to time, but like the page one of this thread says we are to make high probability signals time and time again and for the long haul, not just to get lucky and then blow accounts. Trading small pins & EB’s against strong trends in the long run ends very badly.
We can trade against the trend when we have good reason. The AUDUSD daily EB I recently took was clearly against the recent trend, but notice how it was a large and commanding signals that was not just in the middle of nowhere. It was rejecting a key resistance level. It had clear space to move into at which point if it moved lower I could then think about cutting down my risk levels. Whilst this was a counter trend trade you can see the difference between this and a small pin bar sitting by itself up against no recent key levels.
Hi Johnathon,
First of all thanks for educating people about the price action trading, i am also trying to learn it 
i am using Pepperstone Demo charts but my GBPCAD Daily Charts don’t look like yours :|, don’t know where am i going wrong. The Pin Bar is bit different.
Heya Radiatelabs,
welcome aboard! You charts are the best ones and most definitely the ones to go & stay with! They are what I trade live with myself. The chart I posted earlier today is is from my cousins PC and whilst he does have NY close he has Axi trader. This is why Axi are a pain in the bum because they are often a little bit out of whack so we should always stick to pepper. I just did not have a choice on this occasion.
Johnathon
[B]Update[/B]
AUDUSD, D1 ,bearish engulfing bar counter trend short trade . TP got hit at 0.9530 .
Thanks
Secure Trading
Same here!
regards
Hey Kas,
nice trade.
Again I took this last week, but cut for 35 pip profit on Friday. I was quite glad i had as it had rallied back to 0.9615 on Monday.
If you don’t mind me asking, did you stay in over the weekend and keep your stop at the top of the BEEB or did you get back in on Monday.
I am making money, but struggling to maximise my good positions.
Cheers
its not a pin bar bro is a beeb.
ok so my gbpchf trade i reset my tp to just past entry and it got hit with a tiny profit. luckily i did as price bounced off this point and went back up.
my ct trade on gbpcad also hit tp for 2% gain. Jonathan is right CT trades are tricky. but i like them and you never know it maybe the start of a new trend.
Is anyone still short the AUDSGD?
“I just might learn to speak Mandarin coz’ of all this SGD that I’m handlin’” :18:
Which one is this bro?
this was my gbpchf trade i took on friday.
was this what you meant chisha?
darth
Ohh yes of course, I saw this. You moved your stop to BE so you were taken out by the adverse excursion. This is the same market you & Bhops talked about a few days ago.
Cool let’s keep playing this game.
Hi Bobba,
While it’s wise to keep stops tight on a counter trend trade, I had to give the position space to move before I go BE. Moreover I planned out before I took the trade how I’m gonna treat it, so I sticked to that.(of course I felt a bit stressed once it went in profit and then in loss,on top of leaving it open over the weekend just like you, but I trade following my pre trading plan not my feelings and emotions. They are no good trading assets to me)
All in all if you are profitable than give yourself a big pat on the back, it only looks easy once it’s done,but it’s a hell of a ride
that many other crumble under.
Cheers
Ha’ good one Chisha.
Cheers mate
Thanks for your reply.
I am fairly sure i would have stuck with it had it not been for the weekend. Think perhaps i should walk away more.
Cheers.
I’m glad i could help. see sweet setups on friday but then get faked out. i’m lucky it didn’t cost me anything this time.