Very good analysis and trade managing :))
Good luck.
This is what I see on my h4 chart. I tht you shorted it right after the bearish engulfing barā¦
What does BE stand for in your trading vocabulary? To me it is an acronym for Break Evenā¦
Try uploading a more zoomed in pic plsā¦
:60:
Thx, what pair are you referring to tho?
Hi man if I understood well, the only pinbar you consider to be valid is the first green from the right, but that one is too small and hasnt really tested the resistenceā¦we are here to help each other, so A+ setup must super and totally obviousā¦I hope this helps
Hello. I wanted to get some other opinions on interpreting this price movement. Below is attached a NZDCAD daily chart with a NY close. On the right there is a very clean Bullish Engulfing Bar that came off a previous zone of Resistance turned Support. I placed a Buy Order off of it with the stop placed at 0.8295 (behind the BRN).
Whatās not shown on this chart is that the pair is in a very long-term uptrend.
Hereās what I donāt get. How do I apply what the candlestick after the BUEB is telling me? I know itās a consolidation but it had moderate movement up before being brought back. Is that a greater indicator of weakness? Am I just reading too much into it?
The problem is- Iām not sure what I should do with the information that todayās candlestick adds (if anything)? My gut tells me that the favorable conditions- the long-term uptrend, the resistance turned support with previous testing, and clear pattern- outweigh the immediate adverse conditions. My inclincation is to be patient and let it play out.
How would you interpret this development? Is it a trade you would stay in? Iām mostly certain that Iām going to stay in and see how it plays out but Iād like to hear what others have to say.
EDIT: I also have no idea why Insert Image didnāt just make the chart viewable like in other posts; unless I used the wrong command.
Yes I shorted right after bearish engulfing and when the price touch 1.8790 I put my SL (Stop Loss) to BE (Break Even)ā¦
Dear Johnathon,
This trade went well, but i still curious and want to know if it is a valid PB?
thanks
EJ
Iām not Johnathon but to me it checks out. Itās at a swing high with the trend. The pin bar sticks out and touches a relevant level. The only thing Iām unsure about trading against such a strong candle. Maybe Johnathon or a senior trader can comment.
Hello EJ) It is with the overall downtrend price is also rejecting the round no of 1.8800 but the little support on the left area scares me as it can wipe out my stop loss( look at the longest bullish candle).Finally where is the value area? Do you really think this BEEB formed at swing high?
Hi everyone) I will feel glad if johnathon,dudest or bhops or any other senior member answer this question.Under which circumstances should we trade against the trend?Suppose if we two A+ setups one is with the trend and the other is against the trend and both offer good chances of success.So the one which is against the trend needs something special to convince us for pulling the trigger?
Thanks.
Tahir.
Well, since we are only looking for the best of the best set ups; we canāt really say that there are A+ set ups with and against trend. That would imply that the benefits of trading on either are equal- and they are not. With the trend is always better because the direction is more predictable. The problem with counter-trend trading is you donāt really have a good prediction on where the price will rebound. Itās also more difficult to predict your risk versus reward.
Thereās no real reason to trade against the trend with Price Action. You can apply the principles to any range bound or trending pair. I check probably 30 pairs every day for opportunities and there are usually opportunities available or one in development.
From everything Iāve read, watched, and seen in my own trading; trading against the trend is not advisable with Price Action.
Both 
Clear and organized analysis . There were other pairs that could have been traded yesterday but those two pairs had more clear Tp and support and resistance areas. My problem is that I am too impatient to wait for setup A* . But as Johnathan said picky is the best.
Good luck.
You were already almost 100 pips in profit at 1.8790 then, as I thought. What were you breaking even with. Youāre confusing me lolā¦:15:
Keep those trade setups coming bro! cheers
I mean that I donāt close my position until the price donāt reach 1.8520.Now my SL is 1.8857, I open at 1.8888.That means Iām on breakevenā¦ A canāt explain it more clearlyā¦
lol, i tht it was something that iāve done. hehe-- yea, itās real nice to see PA absolutely RULE
I thought you were talking about zero net sum gain.
Pinbar forming on GBPUSD D1. Support at 1.56000.
I donāt know if Johnathon can talk about the setups before it happens here but I really would like his opinion about this one.
just 2 words mate there is a ction and reactionā¦that pinbar is the reaction of the stacked orders in that blue zone , see the chart !! was stalking for that setup since the morning.
Also USDCAD Engulfing bar at resistance. Hmmm wonder why? hehe