I’m now in it.
[QUOTE=rcreddyvanga;550816]Buy trade on USD/CAD buy stop order 10 pips above high of BUEB.
Hey just my humble opinion, but looking at your graphs it seems your buy stop is at a recent resistance level. Personally too much traffic to the left for a good setup but will be following you on this from the sidelines to see how it goes for you. It is a nice BUEB though.
darth
I saw this last night and wish i acted on it but looks good still and hopefully it won’t drop too much in price before a get home.
Darth
i agree with marketdeal or should i say i don´t understand why this is a high probabiltiy setup?! it is nearly against all that is teached in this thread?!
- against the trend
- no pullback
- no reversal pattern? (ok on H4 you could see one but not really outstanding and obvious)
is it some kind of advanced stuff? 
maybe someone can please enlight me! 
i would have wait to let it break through, then testing this area and go long with a sign.
Forget your line charts all-together. They don’t hold the information you need. You don’t want to be marking your levels with line charts and then switching back to candles and then tweaking. That is just way to confusing and candlestick charts contain the most important info we need which is in the wicks. This is where we can learn where price has been and where price can and cannot close above/below.
If you don’t know how to mark support and resistance correctly then you can read tutorials on marking levels and I have also tonight just made a new video discussing why not to use line charts and exactly why they are such a problem and how to use the wicks of candles to mark better key levels, but this wont be released for around four days or so and when I do I will put it up in here so keep an eye out.
Johnathon
Are you talking about the EUR/CAD D1?
I would call this range trading and wouldn’t recommend it for beginners. However we can see price has clearly hit the top of a well defined range and stalled.
Although I don’t place a huge amount of stock in them price has formed something of a ‘double top’ pattern. See below:
If we get a close up look at the level price has stalled there and has now printed out a BEEB on Friday. The BEEB also contained a wick which shows a false break through Resistance before whipping back.
Yesterday was an Inside Bar and today we have finally had a break of the BEEB to go short.
care to share your entry point and your FTA ?
I am having a hard time deciding on those
EDIT: I just saw your detailed explanation post thanks for this !
Entry point is at the break I guess ?
Whilst I am not in this trade and it is not personally for me, I can clear up a few things for traders…
Whilst not all, a lot of traders are under the assumption that all trades are only played with the trend. Whilst we do recommend that new traders stick to only trend trades and it is also true that the trend is your friend, or in other words a massive edge we have as traders is the obvious trend, there are still great opportunities to make trades against the trend when the trader has experience and understands the correct times to do it.
To answer your other points for you; you don’t need a pull-back when price is at an extreme high or low. There is nothing to pullback from. The reversal signal is a BEEB.
If as someone else has said the BEEB nose has made a false break of the resistance area and has since followed up with an inside bar. If price can break lower it may move into the near term support area.
Whilst this is not for me I can see why some other would play this.
Johnathon
I am now actually at BE. This I think will either keep dropping quite quickly or could whip back. Let’s see what happens.
I have taken a little bit off the table so I can hide my stop to just above the entry.
1 Like
Ride it down like a cowboy.
ps: I wouldn’t recommend trading these types of setups for folks who want to be on the safer side, bhops put a hell lot of market knowledge into his analysis in order to consider triggering a position from here.
With experience comes market knowledge, thus trading more riskier market conditions becomes second nature.
I wish all the best.
Cheers
hehehe no of course not coach, were here to lift eachother up
[QUOTE=Forex School Online;550834]I am not sure what else you would have me say to Darth… Would you like me to say “why on earth did you trade that pin bar Darth!!!”
Maybe he could have told Darth to make sure he doesn’t let his trading go over to ‘the dark side.’ :18:
Alright guys, got it
Thanks for the fast and well explained answers!
I think for the moment I stick to the other ones but keep that in mind 
I’m seriously tempted, dudest. But I also found out that the Pingulfing has 1.40000 VBRN ahead if you want to go short, and that level has been respected quite several times. Not an A+ setup in my plan, but it can be A- or B+ setup.
And to someone who asked before me, that is definitely not trend trading, but it fits range trading if you have that in your trade plan. It’s at the top extreme of range, so going short is really tempting at this point. 
That settles it.
The rule of thumb is that if the charts does not show what the seniors in this thread read, than you should go looking for another broker. I do not say to go live with another broker. Even a demo account will do, so that the chart is close enough to have meaningful discussing in this thread.
ahh man price has moved without me :17: damn you Eur/Cad!
FORCE LIGHTNING!!!
You raise me up, so I can stand on mountains;
You raise me up, to walk on stormy seas;
I am strong, when I am on your shoulders;
You raise me up… To more than I can be.
Or maybe something along the line like, ‘Darth, I’m your father…’
The more important issue is, does this trade fit your trade plan? If it’s not, then it’s actually a wise move to let it go. I was tempted myself, but then I found out that this trade does not fit my personal trade plan (VBRN 1.40000 ahead BEEB), so I simply let it go. It doesn’t matter if it goes down, that’s irrelevant as it is not in my plan to take that kind of trade.
Even among seniors, they have different and highly personal trade plan. You can see it yourself that while bhops took this trade, Johnathon did not. I don’t know about dudest.
