As for the poster who asked what we trade I have had success trading a lot of different markets with PA and in past have even used on weekly charts of top 100 US stocks. As long as liquidity is big enough it is In line to be traded.
Because we are trading higher time frames and only A+ setups there will be times of sitting on hands. Instead of getting more traded by going down TF,s it is Mich better to stay on higher tf and incorporate other markets.
Here is the chart and lets say price broke 5900 level ok, now it need to go to lets say 5980 and come down to 5900 to test it to be valid signal to go longâŚ
I suppose, but a pin bar anywhere still shows pressure. if this pin forms, it shows there is significant buy pressure, maybe not at a level youâd want to trade, but I would think it could be at least enough to wipe out a sl.
Told you guys there is AMPLE good traders in here for me to retire from here
Having said that, Wigglez how you my old friend? The possible close of a pin you mentioning will make a statement to me yes, that round number 5900 is holding. I am short that BEEB at the same level as dejanb1981 and im sticking to my plan though.
If a pin is formed I will not alter my trade as iv planned my trade and now im trading my plan to short the break of 5900 in the stronger down momentum we are having.
I would not long the pin had I not been in this trade purely as I see the down momentum very strong and im yet to see a solid 1-2-3 higher low to support any upward momentum.
Sorry guys just popped in for a visit, JOHNO your thread is a winner dude and to all newbies give a round for JOHNO!!
Here we have BEEB against current up momentum. This BEEB was potential trade against trend but was never triggered
because of high break. Price checked previous resistance area which now turn to support. Setup now is invalid. Iâm waiting for this now:
