thanks for the input on the engulfing bar criteria. hopefully johnathon will respond also
that gbpcad 4h trade was successful btw and made 70 pips. just a quick range trade
also, i can’t believe how many great trades have come along last week. all those slow weeks and now a bunch of trades in a row. it was tough to pick which one(s) to take : /
You should also be in this pair from the 2bar, Hmmmmmm
Please follow up this set up at end of session GBYJPY 1D, it might still be inside bar. Will appreciate any comments only once session is finished
for me it was risky, but when works out, nothing more to say.
well done for taking risk!
Hi Johnathon,
I have read your FSO Article that you posted a bearish rejection candle setup on EURUSD as shown. I do a quick calculation of the bearish rejection candle:
a. The upper wick(high-close) is 1.93 times of the body (close-open).
b. The lower wick(open-Low) is 28% of the candle (high-low) which is quite large.
Do you call bearish rejection candle a pin bar? if yes, do you qualify it as a valid pin bar?
Regards,
Toyogo
Hello,
No not a Pin Bar. Simply a candle that is showing rejection of resistance and higher prices. That’s why I called it a bearish rejection and not pin bar.
I am traveling so not at my charts but it could possibly look like a 2 bar pin if you put the rejection candle and small bearish candle together???
Safe trading,
Johnathon
Apologies regarding the BUEB, I thought that the lows were so close together that I wouldn’t matter.
Could someone please explain the rationality behind the engulfing bar and why the second bar low cannot be about the same as the first bar’s low (BUEB). I know technically an engulfing bar ‘engulfs’, but in reality, is it that significant?
I accept that it isn’t an engulfing bar, but just want to know why it would not behave the same anyway.
Hi Johnathon,
Thanks! Here is the blended candles. It is a pin bar except the lower wick is still too long!
Regards,
Toyogo
Hi, why too long? What are your perfect PB criterias then?
Fil.
Hi Fil,
Do don’t know, I found a lot of articles simply stated that the low wick must be small without giving a specific qualification. I calculated that it is (close-low) 21% of the candle (high-low) which should consider “not small”.
Regards,
Toyogo
Hi all,
Pls comment the up trend PA retrace to the swing low support with 2BR setup, the only issue is there is a minor supp -> rest just below the trigger level and the reward ratio is smaller than 1. Do you consider it as an A+ setup?
Regards,
Toyogo
Hey Toyogo
The size of the 2 bar really caught my eye. the level though was not great and the resistance levels it was trading straight into made me go against the trade.
You getting there though, keep it up.
Cheers
I assume this is a real time chart, but for some reason i have at least 10 candles after that. Worked anyway.
Maybe i live in different time diamension, that would be handy, wouldnt it 
Guys,
EURCAD H4, bullish engulfing bar.
cons:
you can see SL and TP lines on the chart. I run setups through demo, once they trigger, i look over again and if still optimistic, i am in live.
to be honest, i am hungry trading. its been a few days without a treat
anybody up for this one?
I am reediting the post:
Yes, i have just realised how cadjpy and eurcad are correlated. Please excuse me thrashing the forum.
Hi Bob,
I shifted it backward so that one can analyze the chart before it moves. Of cause, it worked out for this trade but it doesn’t qualify it as A+ trade!
NB: If as what you said, then we don’t need to learn anymore as I would post the chart here, you could “see” the result immediately, call me and I would enter the trade with a “known” target. LOL!
Regards,
Toyogo
Sorry, but I don’t see any BEEB.
Richard
There’s a major resistance level at 97.82. It’s technically not a BEEB but it’s good enough I reckon because of the size of the candle (it has completed now) and that resistance line.
Hi all,
AUDSGD has reached the major resistance with BEEB bearish setup. Pls comment! (I’ve entered short)
Regards,
Toyogo
Hi Ariffx,
where is your support line? My view is to first of all define the S/R line which is shown. As the price has broken the resistance, I will goto 4hrly chart, wait for the price to retrace back to resistance with PA setup. Pls any other comment?
Regards,
Toyogo
