First post - pin bar question.

[ajs5274]

Please can you have a look at my chart and explain to me why my TP was not hit ?


As you can see the white pin bar reached at its lowest point 0.9293 and yet my tp at 0.9300 was not activated.

[daydreamer65]

Originally Posted by ajs5274

Please can you have a look at my chart and explain to me why my TP was not hit ?


As you can see the white pin bar reached at its lowest point 0.9293 and yet my tp at 0.9300 was not activated.

The spread on AUD/CAD is 8 pips & your chart is showing the bid price (0.9293) so the ask price (0.9301) was not made. So therefore the order was not closed.

[mytwopips]

Pinbars work great with fibs retracements, ema's, pivot points, and 00 & 50 levels. By themselves they are about 50/50. Also they are more reliable on higher time frames like the daily and 4hr. (hmmm... what isn't )

Even after all of that, you will have a loser sometimes.

Your headed in the right direction. Don't let that loser discourage you.

[ajs5274]

Thanks for the prompt replies.