I never mentioned using either of those when I posted the chart, I wasn’t using them at all for this setup.
There wasn’t any signal that WE take on this thread, hence I said “KEEP AN EYE ON” this chart, because it was approaching the resistance level.
You don’t mean to offend, but you’re being a bit of a lollipop.
I’ll try to post cleaner charts in the future, as well as try to make it more clear that I don’t see the signal yet, OR, posting AFTER I see the signal.
Thanks.
Well I got me lots of sweet money from good old oil. How did you guys go. It didn’t quite hit my tp so I just closed it anyway. Hope you all got some good pips and or are you still in
[QUOTE=“Scottyspips;682819”]Well I got me lots of sweet money from good old oil. How did you guys go. It didn’t quite hit my tp so I just closed it anyway. Hope you all got some good pips and or are you still in[/QUOTE]
Scottyspips I didn’t quite manage to hit my tp either just closed before it started to reverse.
Darastonius it was on a 2 bar with the bear leading the way and the EU is weak as well.
What do you all reckon. Looks to me like a decent setup. Recently trending upwards. The pin bar goes down to sr line off the daily. This pin bar is on the 4hr chart eur/jpy.
Quite a ****ty-looking pin imo. Big body, not at swing low, huge stop distance for very small lot trade.
The level where the wick touched was nice and I would only consider this a good trade if you do a touch trade where your blue line is.
To add on to what Panupat said, this technically is a not a valid pin in the first place because the high does not close within the previous bar.
Cheers fellas. Yeah it’s not even a proper pin bar.
Have any of you tried the PA method on smaller TFs like 5 min or 15 min? At the current pace and timing its not fitting well in my lifestyle.
Firstly, I can’t check trades during the day, so only the D1 TF left. But when the NY stocks close, its 11 PM where I live, and I can’t manage my charts at that time. With smaller TFs I can say, that “I have 2 free hours in the afternoon, and I’m gonna look for trades then.” So i’m not tied to any specific time.
Secondly, there are too few occasions to practice. Yet another week passed, but I opened only one trade, and even that wasn’t good, because I didn’t have the practice to evaulate everything for a good setup. Especially after 11 PM, when I’m tired.
Hey Darastonius,
While trading pure price action on a smaller time frame is more risky due to large price swings, it is possible as long as you are placing your support and resistance lines in the right places. It’s all about learning to correctly read the order flow that is being displayed on your chart. If you can do that, I believe you can be profitable on any time frame.
If you want more practice time, I suggest you invest in a backtester like Forex Tester 2. Really speeds up the learning curve and is just a great tool to have. If you do though, I suggest you invest in one of the premium data packages they offer for the highest quality data possible.
Best,
Joey
Pipinit old school do you mind me asking what is backtester 2 im newbie currently going trought school of pipsology 
Hey Valentas,
It’s called Forex Tester 2. Check out this article HERE. I suggest you completely finish the School of Pipsology first though before you do anything, even demo trade. It’s important to have a foundation before you move on. Skipping steps will only leave you confused later and will end up taking you more time to learn.
Best,
Joey
Hi J(oey)
I think it is about time for me to thing seriously about Forex Tester,
can you kindly explain the difference between the free version and the paid one ?
thanks
My friend, you can easily find this information with a quick google search.
Of course buddy! The free data they supply you with is from a broker called Forexite, which is not NY close. In order to make the candles blend for NY close, it is suggested to change the shift time to NY time zone, but I find that the data is still VERY unreliable in terms of accuracy. Alternately, the premium data subscription provides you with data from MULTIPLE brokers, including FXCM and FXDD, which are NY Close. From my experience, I came out with completely different results using the free data vs premium data and I highly suggest you invest into the premium if you do end up getting FX Tester 2. It is essential in my opinion.
Hey y’all!
Decided to take this GBP/USD BEEB - I was a pip from getting triggered but I didn’t, so I’m just sitting tight & waiting for price to reach my entry. I’m basically using a 10 pip buffer on the entry, stop-loss & take-profit, so price hasn’t gotten there quite yet. The only slight concern is the bearish rejection at around the 1.5350 level a few days ago, but it appears to be a minor area of support that shouldn’t interfere with my trade - the two red lines are solid levels of S&R that price has rejected significantly in the past. Hopefully this is not an exception.
The trade is in-line with the overall bearish trend on GBP/USD and should hopefully lead us down to the marked support level. 
What do you guys think?
Looks good mate. Maybe a little resistance but should keep on going down.
What time frame was that chart on
Do you guys find 1.13375 level on eur/usd H4 a solid level to trade off? There was a pin just like the one today that worked out really nice, I´d like to know your opinions. It is countertred so I will pass, I am just curious
I seem that too was tempting but not really a perfect setup.
