The EURCAD H4 has printed a bullish pinbar after a pullback to that daily level that was broken last week.
Im not seeing this pinbar on my chartsā¦
Are you using NY close 5 day charts like the rest?
Would you say this pin close above or below the key area though Dude?
Hi Boss!
On the basis of H4, it is below the key area (recent H4 highs)
I took the trade however on basis of my D1 S/R zone, to which price pulled back to and formed the bullish pin. Recent momentum on D1 seems to be bullish in that zone.
Please correct me if Iām missing on anything.
Thanks!
I believe so my charts usually match up with everone elses. Iām using Oanda. Havent had an issue prior to now.
Hi Johnathon,
I looked at it but I wasnāt sure if it is A+ setup so I rather passed it on. I was worried about heavy traffic before it and it is also counter trend (?).
I have nearly no experience so Iām āscaredā of these setups and I feel fear of possible loss (I think it is because I donāt know if it is A+ setup or not).
Good stuff sensei!
Hi Njox :)!
Post up a few H4ās and weāll dig out those setups together :)!
Cheers
By bigd41190 at 2012-09-12
By bigd41190 at 2012-09-12
Does anyone know what went wrong on the AUD/CHF pair? I traded the bearish pin bar entered maybe two lae since I was two candles behind? The bearish pin bar took place on friday I believe.
Also is that a BEEB on the GBP/AUD daily?
I know Johnathon will reply soon when he gets online; he has really good advice on fear and how tendency to avoid pain can affect our trading decisions, look out for his reply 
In the meantime, donāt beat yourself on it. Next time you see a possible setup, post it up and demo trade it.
Your confidence will grow in bounds, and the fear to be right will diminish. After all, we are all learning and growing.
IMHO, the EURAUD is in a range. I went for the GBPAUD instead. Both were great setups.
Hi Bigd,
When you say you entered two candles late, do you mean you entered two candles after the daily pinbar was formed?
If yes, that would have put you at a disadvantage, since with this method, entry is at the break of the setup (in this case, a few pips below the pinbar). And if you get the setup has left you behind, let it go, look for another train to enter.
Regardless though: not all setups will be winners. We canāt know which will be winners and losers.
(And thatās not to say this is a loser!, price could just be retracing before going lower for all we know)
As Johnathon teaches: We trade like a casino. Even if we lose a couple of hands (inevitable), we have an edge in our favour, over many trades we come out on top.
Cheers
Daily SS
Analysis
- FCL too close for trade management.
- The SS did not really retrace enough.
- Monthly trend BULLISH.
- Plethora of UNC R levels above the setup but none below.
- Weekly indecision candle signaling a pause on the Daily trend and a possible sideways movement.
This is a PASS
Although the SS is not trade-able it is a valid until price violate the high of it.
It isnāt so much that something went wrong as it is that we are playing a game of odds. I was in on the AUDCHF pinbar as well. The set up looked great; it just didnāt pan out is all.
I do not like the phrase āplaying a game of oddsā. Trading is a very serious business. I like to call it a business of a calculated risk taking exposed on probabilities using tools that you can trust. The relevant SS had low probabilities to be a real footprint of sellers where we could join according to concepts that rely on FACTS.
Hi, what do you think about AUD/CHF 4H? Thereās a BEEB but I would rather pass it on because of RN 0.98 and Iām also worried about green support, anyway would you worry about that support? Because nearly every time there are some candles high and lows - look at the next marked support (blue line) would you consider this as a valid trouble area?
Hi Belier!
Looks like a valid setup to me.
The BEEB has formed after pullback and in an S/R created by that gap to the left.
The low of the BEEB is below the BRN 0.9800, so if taking, better to have entry lower still (below BRN and BEEB)
I think your blue line is a valid first trouble area ( mine is a bit lower than that )
Belier I only trade the Daily and above. Have in mind that the H4 is 6 times more risky than the Daily. Trading the H4 requires babysitting price. Trading the H4 you need to be 6 times more faster in your decisions. Trading H4 you need more data to evaluate and analyse. What are your odds? I am sorry I can not help.
Thx for the responses. I understand you want to win the majority of your trades overtime like a casino. And that no one can predict the markets.
What do you guys think about this BUEB on the EUR/USD? I understand we do not know where a good TP point would be because it is recording new highs. So would you guys just stay away from it?
