No the PA does not stick out.
Thanks.
Point taken!
I donāt see any PA signal and it retraced from nomanās land.
GBP/USD D1
Red marked areas are the spots, where I would like to see a valid PA signal.
Hope this helps,
Richard
ah bogger, it was ECB press conference. the bar is gone now :-I
it would be a beautiful signal if we draw a channel. similar setup was taken by Johnathon on eursgd a few days ago. in the channel, so we d use common sense SR lines, but then we have a borders of a range described by angled lines.
Iām wondering if itās fine trading from news candles? I know we donāt even look at the upcomming news, cuz price tells u everything, but still Iām curious. There are now few setups, which, IMO, are valid.
Richard
I wondered about it as well a few posts ago without response.
Recent news create pinbars, engulfs etc. which basically makes signals looking good, but fake.
Taking xauusd as example: news did boost the signal, large retrace made it looking not very reliable, and now its direction went back to normal - as from before news.
With my little experience, i will be avoiding weeks like this one in the bright future.
It would be great if Johnathon give us some light in here.
And as well, i d like to share this weeks trading experience.
I have spotted all good trades /compared with FSO website/. And becose i dedicated this week fully to trading, i make mistakes. Having too much time on your hands makes you reconsider things as they go wrong way. I jumped of a few trades with loss, but if held longer, they would come back with profit.
Johnathon is right here mentioning patience and persistance in his materials.
If your fingers itch, plaster them together, so you dont play too much against you.
Hi all,
AUDSGD hit resistance with nice pin bar on 4 hrly chart. Pls comment!
Regards,
Toyogo
Letās wait for Johnathon then, I hope he sees our posts.
Richard
yes, its a beauty and A++ but the pinbar came from ECB press conference.
i have already lost money today, didnt check the calendar.
Hi Toyogo,
What broker charts are you using please!!because I am not getting this pair with my pepperstone charts, Thanks
this is against the daily trend so just a retrace trade good for 60 pips, if, you would consider taking it. trend could always change though
AUDUSD likewise massive pin bar on h4ā¦ although against trend it is also at the top of a channelā¦ if price pulls back below head of pin I will consider taking the trade
Hei!
IMO, the best setups are on USD/CHF H4 and EUR/USD H4 with the huge engulfing bars, because they are with the overall daily trend and rejected daily res/sup line pretty hard.
USD/CHF H4
USD/CHF D1
Safe trading,
Richard
looks beautiful, but again, again, again - nobody here is sure if we suppose to consider this bar as a good enough to make your decision. this bar came from ECB press conference. this is a news bar, same as the previous large bear one from yesterdays FOMC rate.
Hi,
For this (and all pairs with big movement today), Iām waiting for Daily to close, then make a decision based on the Dailies.
Also keeping in mind that NFP is tomorrow, so USD pairs may be particularly prone.
Cheers
I was wondering, actually it doesnāt matter from what news or how that bar formed, all we need to know is what the price tells us and it YELLS at me (H4 bars)! Every day price forms bars from different little/big news that makes the movement as well as trades and banks speculating, so my conclusion - valid PA, I may burn taking this trade, but then it will be a lesson for me. Itās just my opinion, Iām still learning.
Richard
USDCAD - 4hr beautiful pinbar to go longā¦ BTW the news is what makes the markets move if you donāt trade the news what are u going to trade???
