Hello Bird,
can you throw up a chart to show what you mean? Did you just enter? or you are already at 1/1 RR?
I already set in 1:1 RR…i am not just entering,i see theres 2BR at daily and it with trend too in 4H while in daily its still ranging…
this my chart :
please review me if i wrong to take position sir…
thanks,
Ok sorry I am lost.
So you sold on of the daily chart today?
And you are aiming for 1/1?
Im also lost with birdcat trade.
yes mister…im trading with daily in GU and aiming for 1:1 …can you review for me if i am right?
There is no right or wrong in forex. That you will learn over time.
I am sorry though I am very confused over your trade idea. Maybe someone else watching this can shed some light and help a little…
Hi Johnathon
Thank for highlighting this important point. Though I have read in Babypips that trades tend to be thin on NY Fri afternoon where people either close existing positions or do not commit to new trades, I have overlooked to check this on the 4hr pin.
Many thanks again!
Look at it this way: in the same way that a square can be a rectangle (by definition), but a rectangle is not a square: an engulfing bar can be part of a 2-bar reversal pattern. But an engulfing bar is also a distinct setup on its own.
With 2BR, the important thing is: is the 2nd bar negating (cancelling) the action of the 1st bar?, and are the two bars similar in form?
With EB, the engulfing bar just needs to completely cover the first bar (body, wicks and all)
If an EB is formed (i.e whole candle engulfs previous candle) and the candle being engulfed appears similar in form to the engulfing candle, this is still a 2BR.
Makes sense?
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closed AUDJPY with nice profit
entered LONG on GBPJPY, nice 4 HR pin bar
EDIT: I’ve just realized it’s not really a pin bar, is it ? Impatience, my worst enemy.
Hi szatek,
Posting up a chart or two helps us get a good idea of your trade! 
The JPY’s have formed pins on H4, though as I see them, they are not true pinbars (at least for GBPJPY, EURJPY, USDJPY), since their bodies are not within the candles preceding them. AUDJPY pin looks more valid, but for me, has not formed at any important S/R, so I’m just watching it…
PS: still in the AUDJPY trade! If price does climb, and take me out at (several pips of profit), will still count it a winner. My final target is 82.60
Yes this is with the trend. What would you say about the level? What would your opinion be about the swing point and area?
Thanks in advance.
Johnathon
No not technically a pin bar as it does not close with in the previous candle. It is also rather small compared to the large down move you are trading against. It is however a reversal signals and from a clear swing point. It has also began moving higher for you so good luck!!
Seems like we giving questions to questions simultaneously Johno, sorry didnt see you were online.
I am only ever online when my email beeps at me because someone has posted in here…
i’ve noticed it…
i know, i’ve to study a “little” more!!
Sorry to go off the topic but, have you seen this thread is fast approaching 1000 posts and 45 000 views!
OMG!