Well, glad I waited, look what happened today, 17/4/19. 90 pip plus to the negative, would have been taken out. That’s the news events for you, check for news before committing to a trade.
Once it breaks the 50EMA, then maybe long after retest of support.
Patiently stalking.
Happy trading .
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this usually happens when the market rolls over from one trading day to the next.
spreads widen for about an hour after the new york close and the price can gap up or down.
Its a sign of low liquidity.
You can start your own separate threads to ask random questions.
Thanks for the info. I know how a forum works, thanks.
You identify an area to get long, but you dont discuss a target or RvR. on those swings up on your chart, no buyers swing has achieved. ie hasnt broken a new pivot high. yes you have identified a buyer level but you dont know if they will give up here. its a dumbo area. what that means is there is an accumulation of stops below those mirrors which could get stop run.
It seems to be alls youve done is isolate a couple of mirror bars and decided a trade long is viable. those mirrors dont even stand out as being of interest on the chart. ie they are comparable length to previous bars.
I dont see anything in this area to get me sitting up on my chair.
Hello @johnftseman, quick question, did you manage to read through this post before commenting? Many of your reservations have already been addressed on the way, and no, this post isn’t about targets or R:R. It’s simply about how much value is to be placed on the PA pattern at that level. Stops are logically expected below key levels as long as you’ve identified those levels correctly. Thanks for the inputs anyways. Appreciate
for newbies which babypips is all for. it is most important they understand the trade and if the rvr is not there for an achievable winrate, all we are sharing is a possible entry, which frankly is exactly what price does, it offers entries all over the place. opportunities abound in price. the skill as a trader is only to take the good ones with good rvr targets or good rvr to first obstacle which can be profit stop managed.
i will keep commenting but really you need to think of the new trader who knows very littel of trading and is still struggling to find their skillset and to identify what works for them. so i believe it is imperative to have a good record keeping system in place from the outset, if we cant measure something, we cant improve on it.
I get it that everyone doesnt view trading as a business and many just dabble or watch it as a hobby. Im not interested in helping these sorts,. im keen to get people as independent traders making thier own decisions on price and mastering a toolset to a very high level. When you get a core team at this level the feedback from the group becomes very special and to the benefit of all.
The quality of the charts and trade ideas soars above the clouds and become fantastic learning opportunities for those not achieved that level yet.
Really this thread was created for a specific purpose (views on identified PA at a key level ) and nothing else. When you start talking about Risk vs Reward, Win rates, entries, first obstacles, profit stops, record keeping systems and all that, It only really confuses newbies you’re trying to help more often than not. That’s why Babypips is structured the way it is. This thread is NOT FOR NEWBIES. Just a simple question needing simple answers really.
if this thread is not for newbies, why is it in the beginner questions section? or am i missing something here?
2 BAR REVERSAL Would you Take This?
Beginner Questions
Candlesticks, Chart Patterns, and Price Action
Ok, I think I’ll do my best to clear this up in a nutshell since it’s turning out to be quite longer than expected.
This post was specifically on opinions on the validity of the 2 Bar Reversal Candlestick pattern.
Yes the post is in the beginners section, that isn’t out of order as I pretty much consider myself and the question more in the beginner range myself.
While the beginners section is meant as a hub for newbies in the forex trading world, “This thread isn’t for newbies” means that while it is meant for newbies to do most of the asking, it is meant for traders with much more PA experience to provide the responses. I hope that clears things up a little.
thanks macilme
Looking forward to your further posts…
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