It looks like price broke out of your resistance and is retesting the area with a pinbar. Strategically that is a neat scenario. But at the moment I do not have access to this chart to evaluate more than that.
hope that helps.
Best
Looking at Daily a BEEB is forming on a swing high and the long term trend is down.Ofc could be a rebound but i would look for shorts
Looking at Daily a BEEB is forming on a swing high and the long term trend is down.Ofc could be a rebound but i would look for shorts
I am not sure if it still relevant, but if it happened in the past it can happen in the future !
Please read this , as to why you should better avoid EURCHF :
Cancel my pending sell. the price move higher.
[quote=“nus,post:18822,topic:41718”]
Yes, price moved higher, but the 2 bar reversal signal was very strong and at a very good level, I think you shouldn’t have closed that order, because when you opened it, you were very convinced of its high probability, very often price takes its time to confirm the signal, the only thing you have to take care of is setting your sell price 10 pips below the low of the second bar in that case (2 bar reversal), in my chart it was at 1.2553, so your order should open at 1.2543
Hi guys,
I am following this thread for a long while and unfortunatly I did not post nothing until now, as the answers are clear enough for people who ask for help or advice. I am also a price action trader mainly on daily timeframe, but also on weekly (see UsdCad for an A+ pin bar setup which I am in). I did not felt necessity to participate proactively as I usually only see the charts when I go to bed and read your posts (NY close, as I am in europe).
My idea at this moment is to post a Chart with a trade setup and a poll for everyone to vote on it - in a clear and concise way.
With this everyone could understand if the trade is ok to enter or if generates doubts. Obviously this will be complementary to all advice given by members.
Do you think this is good? Do you like this idea?
I am a long time follower as well and have never posted. I really like this idea just everyone throw up a chart that they think is a good trade and we can openly discuss it. Great idea
Hi Psalda&Radius
Doing it together is a fasntastic idea as many minds together is better than 1. However we tried that very approach last year around September, and it turned out that everyone was cancelling each others trade ideas. And some of them were actually really good. As it was a nice pullback 4h PB on E/J formed and everyone agreed on taking it. As it was legit. But unfortuntaley it was a loser.
This somehow brought up an ackward feeling especially for the newbies and for a while posting trade ideas felt more like an ego game rather than sophisticated analysis. Fair enough it was a tough period back then but it left a bitter taste. This is how it went anyway. Doesn’t mean it won’t change!
Maybe the two of you could actively contribute and discuss trade ideas further? I’m looking forward to it!
Best
Here is the first example of a poll with a trade setup:
http://freeonlinesurveys.com/app/showpoll.asp?qid=468303&sid=ci7hoe4auhguz3q468303&new=True
Let’s see if works.
Here is the first example of a poll with a trade setup:
http://freeonlinesurveys.com/app/showpoll.asp?qid=468303&sid=ci7hoe4auhguz3q468303&new=True
Let’s see if works.
[quote=“Venfith,post:18823,topic:41718”]
Hi venfith, I open sell stop based on 2BR on H4 chart. Yes I convinced of its probability. But when price move higher and break the high of 2BR , I think the sell-stop order not valid anymore. I don’t mind if price than move lower, because I set the order based on 2BR on H4 and I’ll stick to that plan.
Cheers. 
[quote=“Venfith,post:18823,topic:41718”]
Hi venfith, I open sell stop based on 2BR on H4 chart. Yes I convinced of its probability. But when price move higher and break the high of 2BR , I think the sell-stop order not valid anymore. I don’t mind if price than move lower, because I set the order based on 2BR on H4 and I’ll stick to that plan.
Cheers.
[quote=“nus,post:18831,topic:41718”]
price didn’t close above it , I think as long as there is no close above it ,it is a valid setup .
As experienced traders say : The greatest enemy of a trader is himself, not the market, not the analysis. To know yourself - that what you realy need to succeed as a trader.
[quote=“abc2005,post:18833,topic:41718”]
Yes, it didn’t. But in my opinion, 2 BR not good enough if price move higher, even the candle didn’t close above it.
My reference : The 2 Bar Reversal
Cheers
it’s a pinbar but a very small one ,
Is the pinbar with the trend or against it?
Can anybody tell how to think here?