why would you say that? the dollar as yet to close today and yes it as broke through CAD support, therefore you could be right, but if it closes at/above the Cad support, then this support is holding until PA on Monday tells us otherwise
There is no signal yet to do so.
Very tempting, engulfing several candles, from S/R level with a lot of space to the left, [B]especially EUR/JPY[/B].
The only cons Iâd found against them would be
- smallish size comparing to the recent up-momentum
Knowing myself - Iâd be setting short orders on the break if I wasnât at work at that time. On the other hand - with my limit order and SL placement - it wouldnât even get triggered.
Fil.
And I got stopped out. [B]To the pip[/B].
Fil.
This is how look my charts:
EUR/USD D1
GBP/USD D1
And I canât find any valid PA signal on these two charts.
Richard
Your EUR/USD looks like a pin to mark the end of the pullback @ a recent S/R zone. Your GBP/USD, on the other hand, does not produce a PS signal, but it is a good area to watch for one to form.
Somehow I donât like that PB, the tail is too small and the overall length of the bar is too small compairing to previous bullish momentum. Altho Iâm not saying it wonât go down, itâs just not for me. And as for GBP/USD D1, we have to wait, u never know what may happen⌠
Richard
it is not enough to be called a pinbar. technically, you want the close lower than that open.
it is also important to point out that a pinbar is not an automatic buy/sell signal.
Spot on. Trade wouldnât have gotten triggered 
Can anyone else comment about âthe close must be lower/higher than the openâ? Is it necessary?
Quoting from Johnathonâs site:
A Pin Bar must have:
- Open and close within previous bar
- Candle wick minimum 3 times the length of the candle body
- Long nose protruding from all other bars (must stick out from all other candles)
So these terms donât include that the close must be lower/higher than the open.
Anyways the trade on EUR/USD D1 isnât obvious enough to take it.
Richard
Nope it doesnât matter so long as it meets the requirements for a pin such as open/close within previous candle etc
For some others they make that rule but thatâs because they will have different entry rules to us such as taking retraces but as we only enter on break/confirmation it doesnât matter.
Johnathon can u please comment this setup:
GBP/CHF D1
Is it valid BUEB or is it more like indecision candle?
Richard
Instead of me giving it, why donât you tell me what you seeâŚ
I see a BUEB that has retraced from a support line. IMO, itâs BUEB, because it has closed above 2/3 of candleâs length. But looks nearly as indecision, thatâs why I ask for your opinion.
Richard
Yes I know that. But what do you see? Is it big and commanding and shouting at you price is going to reverse higher?
Ot is it just sitting there not quite sure?
In other words if you took this would you be very confident price would go higher?
I see your point now and thatâs why I wasnât sure about it, the price is just sitting there. Thanks alot Johnathon!
Richard
Hahaha I havenât said anything!
If you are unsure I think that in itself is a fair clueâŚ
Seams a decent area and would love to have seen big and obvious PA to make things a little clearer.
Johnathon
Thatâs what I mean.