So happy to see more experts back. Looking forward to learning from you guys. =)
Hi guys, I really like this thread. Cleared up a lot about PA-techniques and added some nuances. Now I have some questions about borderline-setups. And how to read certain PA stories.
What about a setup like this? It is a BEEB at an important S/R zone swing high.
Contra: It is a ranging market and there are a lot of resistances on the way down.
On the other hand, if this is enough to disqualify the trade, then it will be hard to take any trades in a ranging market like this, I think. What do you guys think?
I can not find the other chart anymore, but my second question was regarding two pin bars pretty much next to each other. Both of them would have been valid triggers for taking the trade. So thinking about taking the second one: does anything change about the setup, seeing that the - in this case bullish - steam was rejected just before once?
For a ranging market, I guess you just have to manage your trade accordingly, meaning your TP1 may be set at the first support that you feel may hinder your trade. Or set your SL to BE when you hit your TP1. I personally prefer to trade with the trend as Iâm still a novice at this.
For the 2 pin bars side by side, I thought of the recent post by Johno in his blog. Maybe thats what you refer to.
USDCAD Daily Pin Bar Setup That You Want To Pass on
And you can look at the chart of USDCAD now, there were 2 PB on 17-18 sep. Personally I wonât take that trade, as I feel that there isnât enough space for me to trade.
Ha, that was exactly the setup I was thinking about. Thank you! I share Jonathans analysis, that the first pin bar does not classify as a high probability setup. I am more interested in your opinions about this exact scenario with a second (and arguably better - if ever so slightly) pin bar forming right after it.
I find some logic in my thinking, that the first pin bar might be mainly profit-taking and is not at a good position; but when a second one forms, it seems to me, that all bearish momentum is sucked out and a bullish move becomes more likely. If you guys see it similarly and if this is enough to make the setup tradeable interests me a great bit.
In that case, I may just view it like a 2-day PB, and if you do, try looking at the 2-day chart and see if there is space to trade.
Personally Iâm not too sure if i should take the 2nd PB in USDCAD example because Iâm not sure if it can break through the resistance and continue its bull run.
I have attached the chart for reference.
Thanks Kas. Itâs good to see you again here. I am barely active, but I could see some people are still doing their best to help around.
Hopefully we could maintain this thread as âForex Price Actionâ, and not âshow me proof, and even if you do, youâre still bsâ thread. Too many good people had left this thread in the past, and thatâs kinda unfortunate. 
Thereâs some good people on here Just be carful who you listen to ,some profess to be gurus but in reality know nothing ,Beware.
No worries, iâm always discerning of the various opinions given by people in forum. Every traders interpret things differently, so I wonât say they are right or wrong.
I would highly appreciate it if someone can give me please some technical explanations regarding the failure of this marked BEEB of daily S&R level.
Thank you
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There are many ways to look at, shakeout, test, longs covering to go short etc⌠Trade channel. I look at it as a test of resistance then a spring or shakeout before the last move up past resistance. Or a breakout. Some may call it a classic Wyckoff accumulation phase. with a jump over the creek. Since it is a 4hr time frame it has taken some time before it got to the pin bar. I believe your entry points are arbitrary to the trades. If your going Wyckoff you might wait for the break of resistance before an entry. Got a steep advance with strong bars looks like good supply. But donât take my advice I donât want to influence a bad move, just my observation from my experience. Others will probably see it different.
Why you say it failed? I see the price went down for a distance equal to the candleâs size, so it didnât fail.
Or am I missing something?
Guys, Iâm new and trying to learn to spot the S/R levels and candle signals. Please tell me if, on EU (D1) below, I did it right. Resistance line is the dashed line and there is a bearish engulfing white candle there?!
Thanks.
PS try to ignore the rubbish on my chart 
Thank you Pingback for your kind observations, highly appreciated
Guys, I donât trust (yet) my own S/R lines. What do you think of the ones from dailyfx? Are they correct? Link at Forex Technical Analysis Data & Analysis
Wafikjabra-Donât mind giving my observation. I say observation because you will have to find your own methods. When you use the term failure swing I think of it as a failure to breakout or go in the direction of the trend your expecting. With your pin bar obviously it stayed in the range and did not breakout, but could have fooled other traders into going long and other traders in the move before the pin bar decided to go short, but they covered there longs and went short. It didnât quite go past Resistance but enough to make a bearish turn. I use Wyckoff mostly, if your a Wyckoff student you would probably wait for the breakout of resistance before making a move.
Guys, Iâve read that using this PA method you could get somewhere between 4-10 trades per month.
What I didnât understand is, you get 4-10 trades/month for one pair OR for 40 pairs that Johnathon said heâs watching?
Can anyone answer this, please?
The s/r level its good,but if you look closely,u will notice the bearish engulfing bar dinât really fully engulf the previous candle.It dinât close below the previous low.
How about if the next data release being positive or negative may determine if support or resistance holds or foldsâŚhhhmmmmm???
