Forex Price Action

[dudest]

dudest, what make you say the pin is not valid

Hallo walker,

‘not valid’ as in ‘not tradable’

That is: technically, it is lovely pin, but not formed at the swing high, hence not tradable.

Cheers

[walker]

Hallo walker,

‘not valid’ as in ‘not tradable’

That is: technically, it is lovely pin, but not formed at the swing high, hence not tradable.

Cheers

cool, thx for clearing that up

[Gangman_style]

Hey dudest, This way to drawing S&R from the weekly chart is cool! thank you, now I want to share one chart and my prediction, I hope to be right
So the chart is NZDCAD daily:

For now its formed a pin bar on top, but will see to tonight, is have more a lot of time to close the candle, Yes trade this eventual pin bar will be again trend but if the pin bar is clear like now and tonight, I will go with short.
Quickly 2 questions based on this chart, first up where I mark this was a 2 bars reversal right? After that price touched many times the support line, but I dont see any patterns formed, do you see any? And the last, its formed something like pin bar, but the price of pin bar not open and close in previous candle so…? but we see that price go in right way. Any comment why its vallid pin?

[toyogo00]

Hallo doky,

The area and the setup were ok, but didn’t take it as i thought the First Trouble Area (those overhead wick lows) were too close to my entry.

Best of luck to you!

Cheers

Hi doky, dudest,

I’m in this trade, entry @87.45, SL @86.80, target @81.30; I’ve shifted SL @87.30 now!

Regards,
Toyogo

[doky]

Hi doky, dudest,

I’m in this trade, entry @87.45, SL @86.80, target @81.30; I’ve shifted SL @87.30 now!

Regards,
Toyogo

Yes, i entered at retrace at 87.45, will move SL beyond support @ 87.30 in 1 hour (h4 close) and my TP is 88.26 (believe yours is 88.30 instead of 81.30:). On h1 is a lot of bad traffic, if we do not escape in the next hours, I will close partially+ BE, if available. Also, as Dudest said in the previous post the First Trouble Area is obvious on h1 with clear supply levels.
Good luck:)

[vasude]

dudest, what make you say the pin is not valid

see the bullish power of the previous days,trend is reversing,its not good time to sell ,look for a buy entry

[Forex_School_Online]

I’m in ;)) And don’t know next step ^^!

That’s a worry.

[fxsrikanth]

@Gangman_style

Hey dudest, This way to drawing S&R from the weekly chart is cool! thank you, now I want to share one chart and my prediction, I hope to be right
So the chart is NZDCAD daily:

For now its formed a pin bar on top, but will see to tonight, is have more a lot of time to close the candle, Yes trade this eventual pin bar will be again trend but if the pin bar is clear like now and tonight, I will go with short.
Quickly 2 questions based on this chart, first up where I mark this was a 2 bars reversal right? After that price touched many times the support line, but I dont see any patterns formed, do you see any? And the last, its formed something like pin bar, but the price of pin bar not open and close in previous candle so…? but we see that price go in right way. Any comment why its vallid pin?

about the pin in my opinion is

the price rejected the level nicely. the size of the pin is nice but i did not trade that coz i did not get clear signal there.(seniors may trade this but i cant take risk)

i think there is no need to trade this kind of signals …just pass them if u r not sure…the best way …!!! and we have more pairs to watch …wright…?

[Gangman_style]

@fxsrikanth

about the pin in my opinion is

the price rejected the level nicely. the size of the pin is nice but i did not trade that coz i did not get clear signal there.(seniors may trade this but i cant take risk)

i think there is no need to trade this kind of signals …just pass them if u r not sure…the best way …!!! and we have more pairs to watch …wright…?

Thanks, I’ve looked at from this angle (the consolidation)
Im worry only about that the pin is not close in the body or wick of the previous candle and I wonder next time when I see such a pin to risk or not… and why? Hmmm

[Jinz]

I don’t know if anyone else took this, but I had a Long GBP/AUD off the Daily, a pin par that seemed to be off established Support:

<img src=“301 Moved Permanently”/>

Price never went far, collapsing back and eventually closing at -84 pips. This would have been a reversal of the recent downtrend and at a clearly established Support area. Did anyone else take this? Can anyone offer an idea why it might have failed?

Hi merchant, i know u use fxcm trading station but what do you use for drawing the arrow? Trading station lack of that and i am trying to find a simple tool for that

Thanks

[varnuunas]

A reversal false brake pinbar after rising wedge and inside swing on 4hour chart

[doky]

Anyone watching AUDUSD? Still two more hours till h4 close though:)

[doky]

@varnuunas

A reversal false brake pinbar after rising wedge and inside swing on 4hour chart

hahaha:) sorry Varnuunas, did not see your post prior to posting

[dudest]

@Gangman_style

Hey dudest, This way to drawing S&R from the weekly chart is cool! thank you, now I want to share one chart and my prediction, I hope to be right
So the chart is NZDCAD daily:

For now its formed a pin bar on top, but will see to tonight, is have more a lot of time to close the candle, Yes trade this eventual pin bar will be again trend but if the pin bar is clear like now and tonight, I will go with short.
Quickly 2 questions based on this chart, first up where I mark this was a 2 bars reversal right? After that price touched many times the support line, but I dont see any patterns formed, do you see any? And the last, its formed something like pin bar, but the price of pin bar not open and close in previous candle so…? but we see that price go in right way. Any comment why its vallid pin?

Hallo Gangman!

Good job on drawing the S/Rs yourself then posting up for comparison!

Answer 1: the setup on my chart is NOT a 2BR I would trade (nowhere near A+)

Answer 2: often-times there will not be a PA setup to signal a new swing

As for today’s candle: let’s wait and see what forms at end of day.

Price seems to be making higher highs and higher lows though; I’m watching it for now.

Cheers!

PS: there’s something about your charts…are you sure they are NY-close?

[Rossymc]

Anyone watching AUDUSD? Still two more hours till h4 close though:)

<img src=“301 Moved Permanently”/>

Yes but pinbar small.
Would like a BeE or 2BR

RMc

[Gangman_style]

Hmm on EURUSD daily It seems we have pullback but its agains the trend… anyone suggestion?

[Gangman_style]

@dudest

Hallo Gangman!

Good job on drawing the S/Rs yourself then posting up for comparison!

Answer 1: the setup on my chart is NOT a 2BR I would trade (nowhere near A+)

Answer 2: often-times there will not be a PA setup to signal a new swing

As for today’s candle: let’s wait and see what forms at end of day.

Price seems to be making higher highs and higher lows though; I’m watching it for now.

Cheers!

PS: there’s something about your charts…are you sure they are NY-close?

Thank you Our charts are very different… sometimes you have a PA signal, sometimes I have, but you not
Can you look please again on my chart of NZDCAD the lower pin bar on my chart, becouse im confused that this pin not close and open i body or wick of the previous candle but steel go on the right way, in that case next time what shoud to do is it subjective? Would you trade such a signal?

[Kevin_LaCoste]

Since this thread has been here for awhile, has anyone profited during the last 6+ months?

[dudest]

Thank you Our charts are very different… sometimes you have a PA signal, sometimes I have, but you not
Can you look please again on my chart of NZDCAD the lower pin bar on my chart, [B]becouse im confused that this pin not close and open i body or wick of the previous candle but steel go on the right way, in that case next time what shoud to do is it subjective? Would you trade such a signal?[/B]

Price doesn’t need our definition of a trade-able pinbar to do what it wants to do.

Johnathon’s definition of a trade-able pinbar gives us an [B]edge[/B], meaning a high probability chance of putting on a profitable trade.

To answer your question: i would NOT trade a pinbar that does not open and close within the previous candle

Please read these, they will shed light:

1. What is Price Action
2. Pin Bar

Cheers!

[rajfx10]

Yea doing good at the moment still have to learn abit more tho, I did very well off a gbp/usd pin bar in dec and also a few other times, the main thing I find hard is being patient and finding a AA+ trade