Wouldn’t the higher % play just wait until price retraces back to the red level you have marked as valid resistance and look for PA on either the H4,H8 or Daily to go short with the predominant trend?
that is more appreciated way
as the trend is down so we will wait price reach that red line first and we will start shorting
from there
That is the way I tend to play these types of scenario’s. I look for the very high % plays that comes with trading with the trend. For me to take a CT trade I need to see a very large and compelling PA signal. I personally like a large PB to take CT trades on.
USDCAD has been on a nice uptrend for quite some time now. Looks like a big move is gonna happen soon.
Thoughts?
My thoughts
1- not at swing high
2- I myself don’t trade any IB . I’ve tested it and I don’t trade it anymore .
3- It’s really choppy , I’m waiting for a breakout and then trade it .
Good Luck
It’s NOT counter trend trading that’s a good point. BUT Price is ranging which wouldn’t be that big problem either you could still trade it. It’s a valid pin bar. It doesn’t matter if the pinbar’s body is skinny or fat.The important thing is that it should be sticking out form all other candles (protruding). AND open and close within the previous candle!!
My worry of this trade is the traffic on the left. I would short trade it reaches that traffic.
nice engulfing bar
we can call it 2 bar reversal also
it forms in nice area
looks promising
i am taking this trade in 12hours time frame
Hey mate, it’s a nice BUEB but the really close key resistance at 92.8 would have me concerned enough to not take the trade. Look at how many times price has bounced from that level in the past.
I don’t trade IBs either 
Just pointing out the consolidation.
the area is valued area
this pair is in uptrend in short term momentum
we saw a nice pullback
a nice pin bar formed at 12 hour time frame in a
nice zone
so is it the right time to buy again?
I would like the pinbar to be bigger but this setup looks good to me. Good luck
Hi there QUESTION-
Was watching this approach as well, but I don’t agree with your analysis so I felt like sharing and maybe sparking some discussion. I think the GBP is in for some rough waters ahead.
Shortly following that swing point being taken out intraday (the newest Higher Low), there was a D1 close back above 169, but the price action just isn’t signalling continued strength to me right now on a larger scale.
It does look like your initial profit target is spot-on though if strength was to follow.
May I please ask - how did you arrive @ the horizontal level of support on your chart?
it is a BUEB on D1 now, nice A+ setup on ranging market. i place a pending order and wait…
It’s not an a+ , a+ should be in a trending market .
we have a BUEB on Daily too .
Good Luck
this is a nice engulfing bar so we could expect
price will rise some more
as it has forms in valued support point
but we will not buy from here
as we are seeing a nice downtrend
a strong downtrend
so we will wait for a pullback and then sell again
we will got with trend for making our trade A+
:35:nice bullish engulfing bar forms at valued support
we can call it 2 bar reversal also
although we are going to take trade against very dominant trend but as
it is daily chart so we can take this trade
i am new in mt5 platform
but finding it slow than mt4 platform
now i draw my support and resistance line on daily time frame and
then look for 4/6/8/12 hour timeframe for a+ price action signal
is it right approach?
absolutely