Even though we have been in an uptrend… we have moved over 1000 pips… and a pinbar on daily chart has formed right a the resistance of 1.6300.
This level may hold until next support has been reached.
1000 pips??? are you sure!!!
I guess it is only 100 pips…though it should have been good entry for some quick pips…though entry is against the trend…
Hi Aariff,
Tried to make a reply to your post earlier in the day, but BP was having issues.
My opinion: the resistance is a key weekly/daily level, and the pinbar is valid by the rules of the thread.
My major concern is that it is counter-trend. Others may be waiting to take longs at key levels below this one.
So if you do/did take it, you may want to have tighter trade management.
Cheers
Thanks for the reply.
I totally agree with you. it should have been totally against the trend.
I was not able to make out the trend in weekly, since it seems like sideward movement…higher high didn’t happen in all swing highs…so it was hard for me find out the trend.
Aariff
Hi,
As you said most of them are following Newyork close for daily candle formation.
I cannot watch newyork close…as it is 2Pm at PST. I will be in office…
Will i be missing the trade if i start after 4 hour delay of the start of daily candle?
Aariff
yeah, wathever, 100 pips or 1000 pips, who cares!!! :eek:
IMHO, the weekly seems to be a long-term range.
But since the trade is on the daily, let’s work with only that timeframe ( my pic was just to show that the daily S/R is important on a higher timeframe too )
hi dude, can you post all your abbreviation, it is more and more difficult to follow your script (like IMHO etc.)
IMHO i guess its in my humble opinion
LOL, PMSL hope that makes sense to Rammar
Hallo Mr.Johnathon…thanks for ur concern…
if u dont mind can i get clarification for this…?
for example…as i showed in the picture…if we find a bearish PA signal which is not closed under that line…what do we need to do?
can i send my doubts…to you directly…because…this may cause some sort of disturbance…if not i will post here itself…thank u…
i want every one’s comments and answers…please comment on this…so that it will be very helpfull for all new traders…thank u…
…that’s a very good question srikanth, good on you for asking…
how i’ve done it so far: if that support line is a BRN (big round number) or VBRN (very big round number), i put my entries BELOW the support.
Otherwise, i do my best to pass it by (painful, but better to be out of a trade and wishing you were in it than…)
looking forward to Mr Johnathon’s ( 
) and others’ replies…
edit: remembered something else: if the signal was on a lower timeframe ( e.g H4 ), I wait for the higher timeframe candle (e.g H8, D1) to close to see if PA signal that’s closing below support area will be formed.
But it aint a line as such, its an “area” aint it?.. that depends on bearish pa to “stick out”…the way I understand Mr Johnathons teachings… am I right? :18: :18: :18: :18:
cheers pw
oh my godddddddd…i dont expect a reply…as fast as this…thank u…and i have lot of questions like this in my mind to ask…but i will ask one by one…after clarification of this doubt…
mee tooo waiting for more and more replies for this…thank u
hey another question on this…please tell me the solution…
if that is a retrace or pull back…then do we take short position…with that bearish PA?
hi friend…thank u…yes…u r wrighT[B][I][/I][/B]
Yes, that’s the idea.
Example: downtrend >> pullback to key area + PA signal >> short at the break (low) of the PA signal
Example: uptrend >> pullback to key area + PA signal >> long at the break (high) of the PA signal
PS: i trust you’ve read the first 20-50 pages of the thread bro…
[B]In other news[/B], there’s a lovely [B]2-bar reversal on EURGBP H4[/B] at a Daily S/R
Cheers
edit: remembered something else: if the signal was on a lower timeframe ( e.g H4 ), I wait for the higher timeframe candle (e.g H8, D1) to close to see if PA signal that’s closing below support area will be formed. Last edited by dudest; Today at 11:03 PM.
Hey dudest …thats cool… I like that… am gonna add it to my trading plan… thanks 
cheers pw
ps… by formed … do you mean comfirmed ? or?
I’m also in US Pacific time. Looking at the charts when you get off work for the day should not present any problems for you. There might be a few trades that you miss because they just take off right away, but generally, after NY close the market goes into a quiet period for a couple of hours, and many of the daily setups will still be there for you at 5:00 or 6:00, whenever you get off work.