I guess the philosophy behind the system is: If you know you can take those pips why not go for them? Setup is with the trend, reaching support, pin bar. Go for it.
I think down at 1.3020/40?
I did opened a short position after the BEEB
Hi fazliy,
This pair is in the uptrend (HH & HL) and the next major resistance is @0.8300. So I donāt like to trade against the trend (which is 4hrly time frame) even it has BEEB formed.
Regards,
Toyogo
Hi Toyogo,
The level and BUEB were great. The only reason i didnāt take it was the close FTA.
May it keep going up for you my friend 
Iāve learned from that itās better to watch for 4h two bar, because it can give you better risk:reward than a daily pin bar.
Honestly depends on the pin bar and how you trade them
this would have been a perfect example though. Youād have to set your entry higher than you would the two bar. with sl in the same place
I must be missing what you are trying to say. Based on that chart with the 2 bar entry. You would have waited to for break above the outside bar with a stop below it correct? Now let use our imagination here for a second and picture that outside bar was a hammer (pin bar) would you not wait the the break above with a stop just below the wick? Thats the exact same R:R
I trade pinbars a little differently that I will not go to deep into here but I trade the 50% retracement of the pinbars wick. This gives me a better R:R. However in a case like this (again pretending that outside bar was a hammer) I would not have got a trade as there was no retracment.
Hope this helps
oh, yeah iām talking about playing the break of the pin bar.
I agree, the probability is reduced because of the HHās + HLās, it may reach its target, but i wouldnt short here because of the reduced probability
What charting software is this? Your charts always seem super clear when you post them!
I use screen capture program such as Gadwin (FOC) which can capture part of the screen area with PNG format. Then I use Paint.Net(FOC) to edit the image.
Regs
Toyogo
240M +2% TP reachedā¦daily still going, (refer post #5486 this thread; forum wont let me insert links)
240M is the better trade because the risk is lower, ie. price had to move 89 pips to reach the +2% TP,
on daily it needs to move 117 pips to reach +2%
just want to ask another question regarding outside bar/engulfing bar. For me, a outside bar has to be not too long but at the same time doesnt have long wick in both high/low. This one looks like itās way too long so thereās a possibility it could retrace back as well as fake breakout. Please take a look, do you consider this an at outside bar? (Ignore the timeframe. im asking if this happen in strong S/R, would you take it)
Hi rsg, that is an engulfing bar but definitely not one we want to be trading, that bueb is at a swing high, we want to be buying from the lows of swings to give us more value and more probability the trade is going to go in our direction, or selling from the tops of swings. Buy low sell high! On your chart you would be buying high and then be hoping price pushes higher.
The size of the engulfing bar shouldnāt be too much of an issue if you play from the right areas, also the bigger the better really as big bars equal big momentum!
Hope this helps, I would post charts to illustrate my points but Iām on iPad at the moment,
Steve
