Ok I have had a read through and I am starting to catch on. I spotted something on the AUD/USD 5 minute chart. It seems to be playing out as I write.
I will post an update later on.
Hello please can I ask you keep the posts to 1 hour and above and preferably 4hr charts and above. There is tons of thread for scalping but this is for soild PA on higher tfās.
Also the PA you have circled is not an engulfing bar as it does not engulf any bars.
Thank you,
Johnathon
Sorry about that Jonathon.
Iāll stick to 1hr and above from now on.
Cheers.
Sorry to be anal, just trying to keep things on track.
Johnathon
First off, I really appreciate the effort gone into this thread, many thanks! Iāll try to make this short as Iām sure they seem so basic, but I havenāt gotten an exact definition out of my several other sources of information, I just heard of forex a few weeks ago.
- For a BUEB (in bear to bull reversal, for example), which parts of the previous candle must the body of the engulfing candle cover? Only the body or also the top wick?
- For Pin bar reversal candles, must the long wick point in the āoldā direction of the trend? (ie: Bear to bull reversal; long wick be pointing down?)
From what Iāve gathered; wait for a solid signal (in 4hr TF) thatās going with the trend (by checking daily TF), check S&R levels for possible TP/SL levels (target for RR 1:1.5-2), wait for a confirmation candle, go in without emotions and with confidence (or not at all). Is there anything wrong with my thinking? Too rigid?
I have a few questions on risk rewards and money management (Demoās for me now though!), however Iām not sure that this is the proper place to ask.
Thank you very much for your time and any answers. Iām on page 50 of this thread, and Iām working my way of reading the rest of it. Links as answers to questions would be just fine too!
Thanks for this, looking forward to learning this and being active in threads soon
Have you seen the new first post of this thread I update today? This will help you a lot I think.
An engulfing bar must fully engulf at the minimum 1 previous candle. When we say this the candle must fully engulf all of the previous candle. The high must be higher than the previous high and low must be lower. Make sense? See: Bullish and Bearish Engulfing Bars Introduction
The Pin must reject the level we want to trade from. For example price gets to a solid support level. We then want to see price go lower, test this support ad whip back the other way creating a bullish Pin. The nose of the pin would then be rejecting the support? Make sense? See: The Pin Bar
What are your questions on MM? Before asking these may help: Start Thinking in Money Not Pips The Myth of Risk Reward
Safe trading,
Johnathon
@#2407.
Oh wow, Iāve been following this for a few days, but just now saw the update. Iāll hold any further questions until I review that. Thanks for the answers! Iām off to bed for now.
What do you think guys? A+? Although the pinbar didnāt really close inside the doji before it which was really small.
AudUsd 4h
Thereās a bearish engulfing as well - I think.
Hey,
You answer in your post 
Itās definitely not A+, because momentum is up now so itās against h4 trend and pin bar not close in previous candle. Not tradable if u want only A+
Itās not BEEB too because not engulf previous bar.
Cheers.
Hi sicnarf, just my view but I wouldnāt rate that as a+ and I would pass as the pin you speak of does close in the previous bar but didnāt open inside it, you would be trading right into an area where price has struggled before and Iām not sure the wick is 3x the body of that pin, also high speculation that is not a beeb as the previous candle is not engulfed, a beeb needs to engulf the whole previous candle at least, including wicks. Just my view
Iām learning so thanks for the definitions. Theyāre a bit different to traditional candle sticks. Thanks for the feedback.
No problem we are all learning here and the best way is to ask things your unsure of! Johnathons update on the first post and his site are brilliant resources to most things related to this thread
No itās not. Pleas read article on BEEB I suggested to someone above this post.
are you guys watching audchf 4h & euraud 4h?
whatās uār opinion on those ?
Why do you think that will be a retrace?
