Agreed - looks a good area to turn away from.
What you think about this Daily AussieSwiss ? Reasonable size bars , good 2 Bar form , Higher low , Price squeezing up a bit BUT against trend.:59: Just finished checking Dailies and ready to sort through H4’s. Will post if I spot anything interesting.
Are you guys suggesting complete trend reversals here? Im not too familiar with these if so. Ha may watch from the sideline and see what develops here.
Haha im in the second 2br formation as well. Nearly closed it awhile ago when it passed BE as i dont trust it just like the others here. It’s being an annoyance already that it just wont go down lol. But ill just wait it out and stay with it whatever happens.
I already have long order on around 0.9665. Thats a few pips above the pin bar
Hi Jinz
Can you post a chart for us so we can see what you are doing . My order for a long position would be above the BUEB - I don’t follow your order being set above the PinBar at 0.9665. To me , that PB is a signal to go short - not long ? A chart will help us to follow your reasoning and the senior guys & gals here will be able to comment.
Cheers
Meadsie
For me that pin bar just short temp short position, i’m looking for a longer time like a month or more.
If it’s reach 0.9665 meaning that higher high is form, meaning uptrend, thats all, there’s no need for charts.
Hi all,
Here is daily AUDCAD pinbar setup:
Regards,
Toyogo
Hi there Toyo,
I too was looking closely at this earlier today. Decided against it because -
A great pin should open & close within the previous bar. Although close , it did not meet my rules.
Also, over the past 8 days, there have only been 1 actual Bearish bar , the rest being a Doji Indecision bar and the remaining 6 days showing buyers are active. A higher low tested & rejected the 1.000 level. Current bar shows bullish as I write this.
Only my take on this - that resistance may hold and push Price back down but I am happy to watch this one safely from the sidelines. Good success to you if you get in my friend:)
Happy pips to you
meadsie
Correct ! meadsie …
In addition to that the wick should be 3 times the length of the real body…
also price hasn’t yet triggered an entry anyway…
cheers pw :59:
Just wanted to jump in as know new traders are watching.
Not only should the great pins open and close within previous candles but ALL Pin Bar open/close within previous candle. This is one of the very first criteria.
Johnathon
Hi Johnathon,
Thanks! I overlook. It has 2.8pips difference !!!
Regards,
Toyogo
Hi meadsie :),
My opinion:
Pros:
It’s a reasonably sized 2-bar, and the bullish bar is also a BUEB so that’s good.
As a 2-bar, it’s located around the 61.8 retrace of the most recent upswing, so that’s kul too.
Cons:
Entry is 15-20 pips under 1.9600 RN (significant? maybe)
The target above seems to be a key resistance
It looks alright… and maybe just because of that I’ll pass (coz of that looks alright feeling that I just can’t put my finger on). Let’s see how it pans out…
Eeeh…Jinz, you’re not helping us very much when you tell us to buy this/sell that without showing us why (charts!)
BTW guys, in this market condition (if at all it is market condition dependent) how much pip allowance do you add from the break of a PA candle high/low to enter? and if going long you have to add the spread as well right? as opposed to going short you don’t have to factor in the spread. am i correct?
Hi wtf , luv ur nic lol lol, was pmsl when i first seen it :18:
Have asked the same question my self actually … answer i got = depends… size of candles … time frames etc,
but have seen posted elesewhere 10% …
Would be nice if the boss or some of the other clued in dudes would clear this up for both of us 
i had the exact same thought process when I checked my charts earlier. Glad to see we are al on the same page.
haha had to google what pmsl means lol. how about you how many pips do you allot?
also, any of yous taking this BEEB? although countertrend:
Just be aware 2 bars and engulfing bars are different. One has to engulf the previous candle and the other does not and on the 2 bar we need to see basically a pin formed over 2 sessions to make a large nose.
Don’t stress about what “may” be happening. Don’t fall into trap of trading what you think, stick to trading only what you see.