It’s nothing out of the ordinary, it’s what we’ve been doing all along in the thread!
Price move -> 2. Pullback + PA -> 3. Price continuation in original direction
Maybe this one just looks weird coz it’s at (what could be) the shift of the trend (from down to up), but the idea is no different from the trend continuation trades we’ve been learning here.
That my friend is a fine looking entry. Be cautious though as the aussie is expected to cut rates later and that could cause this to turn around real quick
It is easy (I understand it) for me to look at it as trend continuation as I have played it for last 6 months and it’s quite obvious with all your examples. Good work.
I just can’t get over it as a trend reversal. Probably this is the next level
And! links helped me to look at charts in more short-term. I usually look at loads of data, probably way too much - it causes confusion, adds extra s/r zones, but now it’s clearer. Thanks again.
Bullish Pin Bar just formed on H1 and #2 is Fib’s 50% retracement of #1. I think its a good setup with pretty much confluence. I’ll take it if it breaks H1 pinbar. R/R 2:1, with TP at 80.40, SL at 79.90.
I too went to look at hourly, problems were preceding bars were large and the pin bar small in comparison so easy no trade. I generally dont look at hourly though.
Remember the rule about BIG and OBVIOUS signals. On your daily chart, even if that candle closes as a pin it will be one of the smallest candles on your chart.