Thank you Jonathon but I have figured that bit out. Do you then keep all the different charts open along the bottom tab (so there would be 27 pairs x 4 time frames) or save each pair’s multiple time frames saved in a separate profile (so 27 profiles with 4 time frames in each)?
What has been happening is I have tried to save each pair as a different profile with 3 or 4 time frames per pair, but then when I leave that profile to open another one and then go back again the offline charts have reset back to the default color scheme etc whereas the 4 hour and daily ones are as usual.
Sorry if this doesn’t make sense -if it is a nightmare to write on phone there is no rush
Yes of course and the big green candle hire is one spot swing high (Im sure that)… I just asked you is it matter that this 2 bars arent side by side to be engulfing bar pattern? Also if we have swing high or low and price doesnt formed any of this patterns (pin or engulfin) what you doing then what you looking for signal that price will go back? I saw two more candlestick patterns- inside and outside bars, do you use them John?
Yeah. Looks like this is going down. But I already placed an order in gbp usd. It was already triggered and at BE. I will pass this setup since it did not meet one of my criteria. But double pin. at the right level. On a downtrend is already good. Good luck to all.
If the candlestick pattern is huge it’s still good to put stop loss above or below the candlestick pattern? I traded today the pin bar on GBP USD but it was really huge and I can’t win so much if I put the stop loss above it.
Just wanna share my thought on this particular pair.
Even the pin bar is formed @ swing low but it is not at any important key levels. I was expecting the bullish pin bar to be formed at 0.81575 which is resistance level previously that turns to be support level. However, it didn’t but the price is now gone back to the range zone between 0.79530 and 0.81575.
I will stay aside and wait for more OBVIOUS PA setup.
Hi Liangko, thx for the input…there is however a S/R line at 0.8100 which is at present being rejected, so long trade may still work?
Jonathan any comments?
Thanks
I have drawn up a line at 0.81000. What you can see from there?
What I can see is that the price has penetrated up and down through the level without much hassle during early December, which suggests that it’s not a key level and the price is not respecting that level.
In addition, the price now is gone down lower than the previous higher high formed and back into the range mentioned in my previous post. These suggests bullish momentum is vanishing and it’s quite risky to enter long. I would say that it’s going to be 50/50 trade which is not worth to risk our hard earned money.
It simply needs to be bigger than at least one previous bar (including both shadows/wicks). Usually these bars are different colours as you need to remember: we play those here as reversal signals from swing high/low, not as per your example - continuation signal.
Good post! I am interested to hear other opinions on this as I completely see what you are saying, but on the other hand it could also be seen as a good level due to the strong reactions a couple of swing highs ago. There is a better pin on the 4 hour off of the same level but im still going to pass as it is a little too buried for my liking. Keen to see other thoughts on the level still though.
Hi, just got home and checked my trade. I am lucky on the GBPUSD, still running with 100 pips, Jonathan is right the bigger the PA, the stronger the kick to reverse the existing trend. The larger the probability to get more profit. Thanks.
If you took this trade, good for you. Congrats. A lot of pips. But since Ive been burned a lot of times going against the trend, will not take this trade. However, since it reached an interesting level now. I will look for short. And to answer your question YES. It is BUEB.
