Hiya Spongebob square pants. 
I wouldnât consider to follow the trend on a chart lesser than daily d1. Quite small pins, youâre right. Not a high high probability setup. I wont take them. Was just checking if someone else did here.
Hi ColbertBearish
Why wouldnât you consider a trend on 4hour? I ONLY trade the 4hour and always take the momentum of that time frame.
Remember though on the 4H chart, swing points are mostly daily highs and lows and the more important S/R levels are the daily swing points. Other than that the current momentum on 4hour can be and should be considered.
Cheers
I first open monthl<, weekly and daily charts to confirm the trend. I reckon that 4h would then igive me conflicting data and make me more hesitant⌠Good to hear that someone is successfully trading PA on 4 hour charts alone though. Have a good day.
Second day in a row, the Gbp/Usd testing resistance at 1.5175 to break RS and fails to break. Quite a tail the upper side there. Guess going short after an hour or two may be a possibility.
Ignore the indicator and look at the line and the candles only!
Maybe or may be not a double top. But either way an excellent entry point basing on the ressistance zone and the shooting star⌠Keep it looked till it gives you a good reason to exit.
definitely agreed. It is not the best double top, better to say it was second testing of this resistance confirmed by PA, I holding :-)âŚ
Hello everyone)First i would like to thanks johnathon for starting this great thread.Also i wanna say thanks to everyone else who contributed to this thread.I have been closely watching and reading this thread for the past 3 months and i really learned a lot from this thread.I took a trade on a NZDCHF 2D chart and i spotted this setup according i have learned in this thread so far.
1)A bearish pin bar was formed on swing high.
2)It,s on a resistance level and price has respected that level many time in the past.
3)The size of the pin bar is good and its a valid one.It,s wick is at least 1/3rd of the body,did open and close within the previous bar and it sticks out.
But today my stop loss has been hit .I think this has to happen to everyone because we can only stack the odds on our favour and there is no thing as certain.Loosing is part in this business.Or if i did any thing wrong then please let me know?
Thanks.
I took this trade as well off the daily pin engulfing candle , and got to my first support area where I moved to break even and was them stopped out at break even, where did you have your first take profit set and what was your trade plan on this trade ?
Joffie
What I note from your chart is that you are trading into support.
Note the previous PA with higher lows and so forming a triangle
By connecting those higher lows you will have a line that price has reacted to 3 times already
There is also a minor horizontal SR line
The intersection of these lines would be a logical place to tighten SL or take some profit.
It didnât precisely hit this line, but got close and you should have been aware and maybe protected some of your profit.
Do you think that smart money follows 2D charts?
How do you guys know which support/resistance level will hold? What are you looking for? Because when I get a PA setup, theres usually some sort of resistance in the way to stop me getting a 1:1 RR⌠Is there a good method to see if a S/R level will hold?
Nobody knows if it holds, you can just point out which one is more reliableâŚBut Think it over, if you can indetify SR, you know all your obstacles, that is your edge and you are able to protect your capital by moving to BE
Any A+ trades since Monday 18th ?I havenât seen any or am i sitting on my hands too much?Some A+ charts which you may have trades for the week will help.
thanks
giddy
I have attached a 2 day chart and a daily to show why I wouldnt have taken the 2day pin bar and where I took my entry on the daily and first tp and b/e at.
joffie
Well done mate your management was good.I turned my winning trade into the loser(.But your entry was not correct you should enter on the break of your pingulfing bar.
My entry was on the break of the low of the pin engulfing candle on the daily chart
joffie
