Hi birdcat,
Support turned Resistance is good, swing high at resistance for shorting is good, the pin bar formation is correct except the bar is too small (H/L only 26pips) which is not very strong reversal signal…
Regards,
Toyogo
Hi Birdcat,
It looks good to me but I am not an expert.
July 11, there has a bearish Pin on daily chart. and Friday that bull candle couldn’t close above that pin. Overall the downtrend of GBP/USD market, it significant that this week price could move more down.
On your 4h chart that Pin Bar is valid Bearish Pin i think. Nice entry!!!
hi birdcat…it looks good …
im no expert but i always worry about the weekend candle…they can be deceptive…so just keep your eye on it…i would say.
im gonna wait for london open to see how she moves.
but nice one for posting
another non-expert viewpoint here. look at the candle compared to the other circled candles. i would be looking for something similar in size to those to even consider this a trade, even though a few months ago i would have still tried to trade it : ) also, according to my s/r lines which were marked on the daily it has formed in the middle of a range
look at the gbpcad and usdjpy 4h trades that johnathon posted from last week. the price action candles were among the largest candles on the chart, especially the usdjpy engulfing bar/pin bar which was freakish. both were successful trades
Price Action Check list.zip (7.68 KB)
Spreadsheet attached. If you guys who have been trading PA could have a look at it, see if the questions make sense and other suggestions you may have to improve it.For all PA areas that can be given a score it will give a score, with total % at the bottom. Other questions are for reminders
This I didn’t know (guess I have always had the same price), can anyone else comment on this off-topic please?
Richard
Hi Birdcat,
If you look at daily chart, it has formed the 2 bar reversal signal at the support and swing low. Thus I’m looking for a long instead of short trade.
Regards,
Toyogo
Hi all,
EURUSD has BUEB at the major support (wkly) @1.2160ish). Pls comment!
Regards,
Toyogo
Hi!
Look at the previous candles (the huge bearish momentum) once more and now look at the BUEB. Does it look convincing enough for u to risk your hard earned money for this small pattern? We are traiding only large and obvious PA, it means, the candle has to stand out from all other, it looks like the 4 previous small bars, so for me there is no trade.
Don’t take it personally please if I somehow offend u, just want u to look for the REAL DEAL! 
Altho I haven’t said this BUEB won’t work, it’s just as Johnathon said “trading such signals, won’t make u profitable in long term”.
Hope this helps and safe trading,
Richard
Hi Richard,
Thank you for your reply. We are here to learn and any discussions are welcome. Indeed I’ve also commented the 4hr pin bar on GBPUSD posted by birdcat is too small. I’m looking at this trade because the average H/L for EURUSD pair is about 110pips and the BUEB bar is about 100pips - it is certainly not a large one but an average one.
So you are right that it is not an A+ but only an A or an A- trade; and it is a countered trend trade which is even more risky!
Regards,
Toyogo
Hello, I have a quick question, if you could please enlighten me on it I would greatly appreciate it.
More often than not there is a difference between the chart patterns formed if using the Bid price/ Ask price as displayed.
How do I choose which chart to play attention to the one displaying Bid or the one displaying Ask prices ?
Thanks
This move is coming off nicely but here is why we wouldn’t take it.
Number One this is coming straight out of a weekend, who knows what the big players are going to do when London and New York opens?
Secondly it really is a puny Pin Bar isn’t it? What are the chances of the market being turned around by that one tiny signal?
In this case it is coming off but take these trades over time and you will end up with way more losers than winners. Plus an account that is whipsawing all over the place between profit and loss.
As always though, if you took the trade best of luck!
Regarding counter trend trading I tend to think of it this way. Think of a well defined trend like a big ocean liner like the Titanic. Now did the Titanic sink because it ran into a teeny weeny bit of ice or did it sink because it ran into one seriously big iceberg?
Counter trend trading is the same. For you to turn that trend around you ideally want to see a larger than normal PA signal to trade. Why? Because we fighting all that recent momentum.
Looking at your chart, first glance I can see clearly about 4 bull bars. And 1 in particular sticks out. Which one do you think it is?
Is it the one you are planning to trade?
It happened at a long term downward trend line (zoom out to the daily), a previous support and resistance zone, and was preceded by a doji, which was also preceded by consecutive gapping white candles (signifying a sporadic move upward more than a controlled psychological movement of the market)… it really boils down to pros vs. cons!
ps. i know everyone love naked charts, but check out the stochi on stock settings… it was due for a reversal!
-PJ
It happened at a long term downward trend line (zoom out to the daily), a previous support and resistance zone, and was preceded by a doji, which was also preceded by consecutive gapping white candles (signifying a sporadic move upward more than a controlled psychological movement of the market)… it really boils down to pros vs. cons!
ps. i know everyone love naked charts, but check out the stochi on stock settings… it was due for a reversal!
-PJ
To be honest [I]as per this thread[/I] and the ideas of the OP it isn’t a case of pro’s vs. cons.
Simply put, we don’t trade intraday signals coming straight out of the weekend before the big boys have woken up and we don’t trade PA signals that small.
Sorry to be brutal about it but Johnathon has been pretty clear and adamant as to what an A+ signal [I]as per this thread[/I] looks like and certain rules in place. ie don’t trade intraday straight out of the weekend.
Despite it being a winning trade this would be an easy pass for me and I suspect for Johnathon as well.
I make the point [I]as per this thread[/I] because there may well be other PA teachers out there that would advocate this trade, but I know this is not the type of trade Johnathon is trying to teach/advocate on this thread.
Hope that helps.
Bryce.
Sounds rather on-point. I’ll have to check the rest of this thread to get the jist of an A+.
Thanks for your reply,
-PJ
No worries, and please don’t think I’m trying to have a go. I just know that Johnathon is trying really hard to keep this thread/methodology about having reaaallly big obvious PA signals as part of his trading arsenal.
Glad your in profit though!