Depends on if you trade retracements or not. Personal preference mostly. That’s a pretty strong pin though it looks like. Same on EURUSD.
Pin Bar reversal signals are showing on both Eur/Usd and Gbp/Usd. They have both bounce off BRN’s. Any thoughts?
The pin bar on the EU close a little more bearish than in the picture. Looks to have a clean run down to the next level
There’s some traffic to the far left to look out for on GU
There’s actually quite a few setups this time around, but I believe they violate the teachings of this thread for going against trend. However I’m not sure how far back we consider a trend.
I’ll wait for the retrace on support.
If you are going to enter on this retracement protect the trade as soon as possible.
Yeah, I wasn’t going to act on them. I’m with you on this one. Tired of losing money 
Guys, I am already in this one. I spotted the H6 pinbar, which formed as an H8 - 2 bar reversal.
My stops are at BE now. So it’s a risk free trade.
I am completely aware that this is against the grain of this thread, and my trade size is smaller as it’s anti-trend - so lets see where it goes.
Whys it against the grain it looks good to me for a CT trade (although I cant see the level it is rejecting to the left).
I like the GBPUSD pin alot but am going to pass more due to the time of year than anything else. If I am going to take a CT trade then this would be one I would seriously consider. Perfect level, acceleration into the level and clear rejection with space to move with a logical 1st and 2nd tp.
Wont be trading till 2nd week of Jan now, good luck guys!
The setup on GBP/USD seems more tradeable to me then EUR/USD. Although GBP/USD is in a uptrend it didn’t broke the horizontal resistante around 1.6270 like EUR/USD did with 1.3170. Also GBP/USD has support at bigger distance.
We’ll see - the level is back off into May - and at that, is it a level? Not sure, time will tell. I would consider Johnno’s (no offence Johnathon) style to be with the trend only.
Been quite a frustrating week for those trading the D1 only, as there have been such massive moves intraday. My big adventure for next year is to concentrate on the 4-6-8 hourlies.
This style of trading has really resonated with me after all the nonsense I have attempted since starting this.
Lets hope to make some decent cash in 2013 - enjoy your holiday!
I trade 4h and daily. I had only taken one trade so far this week, and even then I started to get nervous about it.
Jonathan made a comment on usd/chf which has correlation with eur/usd, stating that a daily bullish pinbar has been formed and if it retraces it could hit the latest resistance and with A+ PA would be good to short ie possibly go long on eur/usd, but as said only if the retracement is confirmed.
So stay put and see what hapens, there are plenty of other opportunities.
Cheers.
Yeah, there’s quite a few pairs that have broken out of support and resistance. Just sitting on my hands waiting for retrace. I wonder how its going to play out being christmas time. Does that have adverse effects on pa trading?
Do you all look at USDCHF pair? It seem very convincing pin bar on H4.
Sorry not posting chart. Using IPhone to post this thread.
Hi all,
I had this setup this morning (GMT+7)…is this qualified as a 2 Bar Reversal on AUDCHF-4H?
The support line is coming from the daily chart here…
Any comments is welcome.
I setup an entry order on usd/chf based on 4h pin bar. I’m thinking the daily is more accurate and trumps 4h. In which case the 4h is no good.
Then again, the overall trend is down, so i’m conflicted.
Ya. Sorry should be daily. Pin bar in daily… Lower low.
Yeah, 4h pin is lower high. So I guess we can’t stick to the same time frame as analysis and trade. Have to venture upwards to double check.