Well it looks like the pin bar on the EURCAD daily that we where all getting excited about has went south, however there is a chance we might get another pin today…
You opened a short? On which pin are you talking about?
Thanks,
Adam
Hi guys, I’m on the move so no chart I’m afraid, but looking at the EURUSD 4H there appeared to be a short developing off the last closed bar as a BEEB.
Your thoughts invited?
Hi Adam,
Attached explained chart
Sorry, my bad, I misread your post and thought you said pin bar haha.
Ahh yes, I see where you are talking about now 
I might wait and see how the daily chart closes then open a short from it.
Thank you Adam .
Can i ask why and what we need to see in daily chart to go short ?What close on daily will give you confirmation?
Heya EN,
really now sure about your MM method and I would strongly consider the advice of the previous posters moving forward.
That’s great you want to make 100 pips a week trading, but do you think the market gives two hoots? What I am getting at is setting trading goals around making pips or money targets is a no, no because it will only force us to only over trade to reach the target. We can only take what the market gives us and nothing more. This may be more this week and less next week. You may make 300 pips this week and 0 next week, but if you are so set on making your 100 pip target goal you will force it so hard and over trade into making losses.
Making trading goals should always be set around the PROCESSES of trading and not about the outcome.
All traders need to get out of their heads completely that more pips means more money… Pips means nothing at all. Why do you want 100 pips a week? Who cares about pips? Would you not rather -10 pips a week if it made you more money?
Trading is the game of making money and not the game of making pips. Pips count for nothing whatsoever. If you can make 100 pips per week you can still make nothing. You need to working out how you can make real money every week, not how you can be averaging 100 pips per week. You need to get the pips completely out of mind because they don’t get us what we need and that is making money.
Johnathon
Update on the EUR/CAD daily pin bar luckily the order was never triggered and the pin is now invalidated
Thank you so much Johnathon,
I guess as a beginner I have to set to myself goals and thinking in terms of pips made me indifferent from the money but of course you, and others, are right so I am sticking around more and more to learn and I thank you for your patience and time
Cheers
Perfect example of why we do what we do right there! Full loss averted! :35:
No worries. When I post, whilst I post to you, I also post keeping mind that a lot of other traders are going through the same experiences and reading the same post and will be gaining the same learning lessons. What I am saying is don’t take anything personally and I am always, always trying to help.
Safe trading and a good night to all,
Johnathon
Everything felt wrong about this trade, however, I did manage to lock in my profit on this one. It might be beginners luck. I still have problems trying to draw S+R and identifying the PA signals correctly. So starting today, I bought a white dry erase board to draw out the most common PA signals, and I’m hanging it in my office to remember which PA seems right.
Here is my live trade on the daily AUD/NZD pair. I only had one indicator, which was my ichimoku to draw out my S+R lines for me. But I cleaned it up in this picture for simplicity’s sake.
The Pin Bar not completed within the previous candle body. So I did not enter this trade.Regards,
I have question to Johnathon, how much A++ signals do you get a week/month trading with PA? I recently saw that im taking less trades - just one this week and i think none for past two weeks. I dont know is it just me (did i become more picky or just there is not that much to trade). Dont get me wrong im happy with my profits (600% profit in 3 months with 30% risk per trade - micro account so i risk more :P) but i dont know if loose grip on the market maybe :P,
Hi everyone,
Peers have lately mentioned many times that trading means sometimes waiting.
I have skimmed through recent setups(that were actual A+ setups).
There were many more,but the essence is that whoever thinks they lost perspective should have a look at those.
You may very well see it as a tutorial if i may say so;
(dates&pairs Daily chart)
16.jun
01.may
Eur/Usd
28.aug
08.aug
Aud/Jpy
19.aug
05.aug
Eur/Aud
While looking at them you realize that everything was in place,setups that were easily identifiable.
Pull the trigger when there is a target.
Cheers
Hey
Sorry, but I fail to see a proper PA signal in Maj 1 on EUR/USD since the pin does not close within the previous candles Body (Ok, seems like I’m wrogn and if the pin closes within the vick it is acceptable.)
Also EUR/AUD 05.aug pin’s vick could be bigger. It’s only 2.3 times the size of the candle.
They seem like good setups at good levels, but if you are calling them A+ trades, then I think you should have picked better examples 
Correct me if I’m wrogn.
SR lines take a while to learn how to draw correctly. Just take your daily chart and look for areas where price reacted to most to as support or resistance. And find just the major ones, where swing highs and lows happened, or price was repelled multiple times. It depends on the currency and what the market is doing but you should be able to look over a large pip range, and only have a few major supports and resistances, not dozens. The daily candles help you find the most important levels.
I like the dry erase board idea. In my office I have a stick note attached to my computer screen that says “Don’t sabotage your trades”. Anything to help you from making bad trading decisions is a good thing.
Hi sky,
I understand where you’re coming from with Eur/Aud since it was a CT, it was indeed a valid pin bar.(maybe you are using different charts).
I am by no means trying to defend the setups,if you or anyone else has a different view then that’s cool.
Personally I couldn’t find a reason not to trade them.(under PA rules of course)
Eur/Usd Pin bar 01.may (I was personally drooling when I saw it,lol)
http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action-821.html
Cheers.
Kasravi
Indeed, EUR/USD is a valid pin, my mistake.
But about EUR/AUD, the vick is a little to small. (not 3 times the size of the candles body)
Even though it might seem like nit-picking, it’s still not up to PA standards.
