Forex Price Action

Oh sorry what I meant is bullish 2 bar reversal, our charts our different, i,m using IBFX

Hi Ivanceus,

Use charts which are NY close. If you want to make sure that they are NY close (check tradingview) Their charts are NY close. I use them if I dont have my laptop around. I posted the above from that only.

In regards to 2BR reversal (This is just my view) the box around the 2BR or traffic around 2BR. I cannot combine the two candles to make it two day chart which should show you pinbar if its 2BR. Once I get to my computer , I will be able to do that. On another note, I dont see a strong S&R at that point. (It can go very well in your way) . Just my 2 cents.

Cheers
HA

i took it last night b4 i went to bed and put tp at 0.9512. almost reached it

Hi everyone.

One of my pending orders was triggered this morning. I just wanted to ask your opinion guys. USDCAD H4. . It seems a good setup, I suppose. it is located on a relevant Resistance. As you can see there is a engulfing bearish bar which also can be taken as 2Bar reversalā€¦ . Good R/Rā€¦ with the overall trend (Bearish) ā€¦ relevant pullback ā€¦

waiting for your comments


Thanks hemantarora. If checked the W1 chart and saw a pin bar forming, is this the one we are looking? I guess the strong S&R could be on 1.03440. This pair has been on range for the longest time.

Hi ivanceus) It is not called a valid pin bar because it didn,t open and closed within the previous bar and do you think its from the value area?.At least read the first 50 pages of this thread.

Hello forex4worth,

Not a pin bar but a bullish 2 bar reversal but you and hemantarora are correct itā€™s not on a value area. I already read the first 50 pages, perhaps I need to do it again.

Hello people,

what do You think about this Bullish Pinbar on GBPUSD Daily chart ?? It open and closed within a previous bar and it is sticking out and also it rejected a round number 1.5600.

I have enter a buy stop order on breakout of this pinbar and am already in trade. I want to hear from senior member and Forex School Online what he think about this ?? Yes i know it is not with trend but is looking for me as a reversal.


Actually I am not a senior member but I would like to leave comment on this setup if you donā€™t mind?? :slight_smile:
I would not take this setup because :

1- In my opinion it is not sitting on a Key & relevant Support ( I just can not see it clearly )
2- It is against the trend and also it is extreme low which can be dangerous ( As Johnathon said before)
3- If we look at the previous candle before the PB , it seems to be a strong Bearish candle with significant momentum.
Although I just expressed my thoughts . I hope it is a win trade for you :wink:

But isnā€™t this PB at the bottom of a swing low? Johnathan said it is not setup A* if the PB or Engulfing bar at bottom or top of swings.
Sorry, I just want to understand better the concept of swings and PB as I am somehow a newbie.
Thanks

Dear Johnathon and friends,
Is this count as a valid PB?

thanks
EJ


what pair and tf, EJ?

Johnathon,
Great info. I was hoping that you could share some info to see if Iā€™m in the right ballpark here. If you were just to stick to the 4 hr and daily charts, how many A+ set-ups should one expect to see a week? If one sticks to the A+ set-ups, what % come out winners, what % break-evens and what % losers are realistic?

Thanks for the insight.
James

Hi jcdawsey

Thats not an easy question to ask anyone, remember Johnothans PA system is open here for everyone. Its up to each individual to apply what they learn. We not all going to get the same % of trades, losses ect as emotions effect each one of us differently.

Hence, he nor anyone could answer that question. What I can say is Johnathonā€™s PA has a better edge/probability over everything iv learnt since I started forex.

Hope that help. Cheers

I was hoping to be long on a swing lowā€¦lolā€¦ but unfortunately it wasnā€™t
Anyway, for my understanding of the ā€œrulesā€, pin bars are reversal signals, so we have always to buy at a bottom of a swing low and sell at a top of a swing high, havenā€™t we? Can someone clarify it to me?
Yes, I know that was counter trend, but the pin was so nice and screemed ā€œBUY MEā€ā€¦
What am I missing?

Sorry for my bad english guys

If its any consolation I got caught out on that pin bar trade too.

it is Eurusd H4

Good post. Huge bearish bars prior, counter trend against very strong trend, decent but not major level, also no room to move to the left which is important

When itā€™s going against the trend like this, no matter how good the pinbar is, i take only 40 to 50 pips and then move my sl behind the price in case it keeps on falling or climbing without big pullbacks. Pinbar is good tho(to me), dunno what would Fso students say thoā€¦ On daily chart it is confirmed somewhat too that level u drew is being rejected.

But it formed lower high and lower low on H4 TF, which means it starts to move down (downtrend).

EJ