Thanks, dudest!
Maybe USDCAD give us a chance to go long? Forming pin-bar look a like o D1. I’ll enter at close of candle if stays like this.
I would wait for a bigger pin bar… compared to the last candle it’s a small one. The wick needed to make this candle as big as the last one I guess. But that’s is just my opinion.
I agree with waldmann007. The wick is just 10 pips…to small
Thanks to both.
I couldn’t quite find any minimum wick length in the thread.
How long should it be to be worth thinking about trading?
Hi Slenderman,
There’s no minimum wick length requirement ( e.g x no. of pips )
[ a valid pinbar must of course have wick at least x3 size of body ]
However, just by eyeballing it, you can see the pin as a whole is small compared to the preceding two bars; you want something BIG to show reversal of momentum.
Hope that makes sense; if not, please holla back
Cheers
Hi dudest!
Thanks for your input.
It does make sense, I’m just having problems spotting an A++ pin bar between so many pin bars (some of them look good to me, but then they are not long enough).
I knew about the x3 rule, and that is why I thought maybe there was another rule for these cases. But I guess is just a lot of experience
I’ll keep on studying them, thanks!
hi all. what does the forum think of eur/usd 4hr pin bar? thanks
It’s not closed yet. If it closes above 1.2944 I’m in
Good pb but you will be trading straight into VBRN Resistance. Be warned that the daily is forming a BEEB. Few more hours to go though.
I see a nice pin bar against resistance on gbp/chf 4h. When I swap to daily though it shows a bueb.
eur/usd seems to be doing the same thing, only reverse.
I have been watching these 2 also OMFGWTH… still 3 hours to go. Both have BEUB forming at what looks like good SR on the daily. I was wondering what others thought of thses 2? Also would y’all consider these to be large enough?
R:R doesnt look to good on GBP/CHF and it also looks like its in a downtrend so no possibility to let the trade run
Mine doesn’t engulf the bar on the 26th Just a quick question, isn’t there a minor S/R level around the current price? (newbie here) but it looks bearish to me. did you place your orders already?
AUDCHF, GBPCHF, EURUSD:
Too bad all the great potential Engulfing Bars aborted, and failed to close strong
Price may yet continue in the desired directions; will wait and see…
I’m using HotForex for charting. I wonder what AxiTrader is showing. Who’s charts are u with?
Just a quick question, isn’t there a minor S/R level around the current price? (newbie here) but it looks bearish to me.
An entry with a buffer below the low of the setup should take care of that
…did you place your orders already?
Yes
( this is not trading advice !!)
Cheers
I’m using FXCM for charting
Good luck!