hi Zakuthimdlethe i would argue that aud/usd in the daily tf the trend is bullish just be aware of brn 1.05
Sorry, but I don’t see a bueb. The bottom of that bullish candle doesn’t extend past the bottom of previous candle.
see how the previous bar has a tail and see how the bullish bar has none?
Higher highs and Lower lows.
Draw a moving average on your chart,then you will see-NOT THAT I USE MOVING AVERAGES John…:33:
This bar is a example of a bearish engulfing bar as the whole candle from top to bottom is covered
Please feel free to comment. Ps I am not trading this bar as I was not happy with the wick at the bottom I felt it wasn’t strong enough to trade.
In my humble opinion, the noise you have to the left is reason enough to avoid trading it.
Cheers.
Agreed! I didn’t enter 4 the same reason
I am confused by this rule “- Long nose protruding from all other bars (must stick out from all other candles)”
How far back does this rule apply? Days, Weeks, months, years?
Can someone explain?
Thanks
Not sure I understand what you’re asking.
A Pin Bar is valid when it meets the criteria to be a pin bar. This has nothing to do with if it is with or against the trend.
Whether an individual trades against the trend comes back to their personal trading rules and plans.
Seams as though a lot of people have been confused with the latest daily setups on GBPUSD and EURUSD.
Firstly both these were counter trend trades and as I say all the time, new traders want to stick with trading with the obvious trend, but more experienced traders may choose to trade both with and against the trend. Some really good reversal trades will be found against the trend.
When trading against the trend it is even more important that we are trading from a key area. The GBPUSD was rejecting a solid resistance area and with a nice Pin Bar. This was a solid opportunity for those traders that trade counter trend setups and a good chance to move lower because of the level it was rejecting.
GBPUSD DAILY CHART
Does this make sense?
People should not be asking in here if they trade counter trend or not. They should know in their trading plans if they do or not and if they don’t know this STOP trading with real money now as you are not ready!
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Hate what just happened.I left money on the table because I have bad management skills.
Anyway.since the pair is uptrending,maybe a signal will surface for us to ride the trend upward.cross fingers!
Open and close within previous bar ??
0.9920 is the key ! then 1tp 0,9889
What win rate does it have in average a really good trade against the trend compared to a A+ trade? I’ve heard that trades with the trend can have 75%+ win rate. Is this true? How about counter trend setups?
I’m asking this question because of money management. If I win 80% of time I can risk a bigger % of my account than if I win only 60% of time.
If I risk let’s say 5% of my account on A+ trades how much should I risk with counter trend trades?
what do you mean with Open and close within previous bar , i’m still newbie :19:
Hallo guys n gals,
I was away, and thought I’d see guys all over that GBPUSD pin! ( for those with CT trading in their plans )
As Mr J sensei said, a valid pin is a valid pin (regardless of trend), and that GBPUSD was one of the best CT pins in some time.
Lessons for another day…
Cheers!
Hi Raj,
I do not fancy that pin as it is not at swing high ( has formed much lower, giving you little room to your next S/R )
Lemme know if that makes sense (it is key)
Cheers