Hi spongybob, I certainly appreciate and accept what you said and respond to my question.
My question is asking what have I missing and wat have I not done before I jump into the trade.
And someone replied commitment and hard work??
That’s rude!
Anyway, we are all here to make money in forex, not make enemy. I will not respond to that reply again and once again I have nothing against you and I appreciate your guidance truly. No pun nor sarcasm from me.
yesterday i took a trade NZDJPY base H1. As i can see that i couldnt see any large pullback so i decide a small pullback entry. I want to know from you guys Is this valid setup ?
For this one it would probably wise to wait and confirm the bearish trend reversal.
Currency correlation may apply here too especially after a fundamental day in
Australia.
@forbiden such a funny world. I am actually short EUR/AUD from 1.2475 price is not really breaking the 4 hour 1.2370 level if it goes beyond it can easily go down 100+ pips
Hi All,
Interested to know your opinions on this setup.
USD/CAD Daily Chart…
Shot up resistance of 1.0100 and now I view it as resistance turned support.
Is this a valid opinion?
opinions are welcomed!
Thanks
May I ask what your entry based on, to me
I am looking forward to a pull back to previous support at 0.9388, waiting for a reversal PA then go short
May I ask what your entry based on, to me
I am looking forward to a pull back to previous support at 0.9388, waiting for a reversal PA then go short. Hope it makes sense
Hi klhh,
I can’t see any sell entry signal on EURUSD Dailly neither
Price is currently approaching resistance level. See if it can break it through
If it does, I would look for a PA signal as shown below. Hope it makes sense
Agree, as Johnathon always said, never place a trade against the big trend.
But good luck with this entry forbiden, as I can see your TP level is reasonable
Hi Monjorra,
I do agree it’s a very strong pin bar, with long tail
IMO, it’s no trade for me, mainly because the price fall straight into support zone after that pin bar (support 1). Even if it break support 1, support 2 is not far away (see my chart below). Anyone feel free to correct me if i am wrong, as i am a newbie, still a lot to learn from experts here
Yes,you’re right. Emotions for “in the game” get prevail… Learn a lesson 
Hi hmr7788,
The pin par is at Support (0.9300), please check my screen shot, although my order was closed by stop loss
Hi, hmr7788, the pin bar touched resistance (1.31268) and I entered for sell when the price broke down at 1.30525, although my sell order was closed by stop loss…
Hi klhh,
I could hardly see the candles in your screen shoot; the candles are just too small and blur; sorry for my poor eyesight too. May be we are using different chart, as i can’t see any obvious pin bar formation in my NY closed chart
The trend currently is a strong downtrend. As Johnathon said, always trade with the trend. In this case, we should be looking for short, rather than long
Cheers and happy trading
Hey Hmr7788,
I have a question about something i was wondering about for some time.
Seeing your chart i thought it would be a good idea to ask:
Looking at the trend it has been down from jan. till the start of apr.
Now it is moving up again and if it were to break past that R/S level you marked i understand we would look for a retrace down to that level to go long.
Now my question is: How do you tell the difference between this being a uptrend instead of a retracement?
Is it just the sheer size of the up move? (Aka is it too big a move to be considered a retracement).
Wording it like this i might have answered my own question but would love to have some confirmation on my thought proces.
Thanks in advance for any answers.
Remitu
Ps. If we were to get a very large and obvious PA signal (reversal) price might just move down again?
no, it doesnt stick out…
