Hallo denoxster, and welcome!
To be on the same page, you need to use NY-close charts ALL of the time.
You can post live trades on any broker, but for analysis, NY-close charts always.
Cheers
PS: for a quick check on your setup, try https://www.tradingview.com/ NY-close charts (don’t have NZDCAD on my Axi MT4)
Correct!
The level is great for shorts, but the pin was small ( according to Johno’s rules: Pin Bar )
Cheers
PS: HOWEVER, on another timeframe there might be a valid setup. Try check H6 or H8 (using MT4 period converter script or NY-close MT5)
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[QUOTE=“dudest;492463”]
Correct!
The level is great for shorts, but the pin was small ( according to Johno’s rules: Pin Bar )
Cheers[/QUOTE]
Thanks mate as always it’s a pleasure to learn from you guys
I took the BEEB a couple bars before it. Looked like a strong bearish close to me. I got lucky, I didn’t set my trade right after the bar was formed, otherwise I would have lost.
Hallo,
A couple of questions I have to run through you (to help to remove your confusion):
Hallo wigglez,
If you mean the big red bar to the left (closing under 0.8200),
a) that’s not a BEEB (it’s not engulfing the previous bar)
b) BEEBs are taking from swing high, this candle is at swing [B]low[/B] (buy @ support, sell @ resistance)
Cheers
Aah, ok. Thanks for clarification
Hello to all, fellow traders!
I’m totally newbie in the Forex world, I’ve read al the school of pipsology, and I’ve found this thread regarding PA, which I found trully interesting.
I’ve been looking a lot of setups and charts in this post, and this afternoon I’ve seen what I thought may be a good point to go short in the EURUSD, 1H, here the image:
For me it was a BUEB with a great pin, and I thougt it was almost sure that this will go to the 1.2817 point, but it have scaled a bit in the other direction, what have I miss guided?
I’ve putted the next setup: Trade entry -> 1,2907 Stops -> 1,2910 Targets -> 1,2820
I’ll apreciate any comment you can do on this setup, as I told you, I’m totally newbie, but after some trades with a virtual account, I feel as I’m totally lost.
Thanks to all!
And maybe my english is not the best, but I hope you can all understand what I’m trying to explain!
Have a great day!
Mate,
This is BEEB not BUEB. I think by mistake you typed BUEB. In regards to setup , Please find the attached chart , you are trading direct into support which is not recommended / suggested.
Second - Just for future trades , Your SL should be above the BEEB which is also mentioned in the chart.
Cheers
HA
The Pin bar is quite small if compare with previous candle, but with strong trend, available but Not the A+ setup, so i dont take it. wish you success.
Why was it bad? Looked like it was at a good level, strong close. People here seemed to really like that pin bar though
Its a bearish pinbar rejected from resistance
Hi to all!
Thanks for your reply hemantaora.
As you well say, I misstyped an U… 
I meant that was a BEEB.
The fact is that I haven’t identified well the support and resistance levels in this chart.
As said, thanks in advance for your comments.
Regards!
Yeah. How was my analysis any less valid though?
Sometime we can see price break support then test res. i want to know should we wait for nice reatrace as i mention in the pic … its a short retrace after break support and form a bearish pinbar rejected from res. so short retrace valid setup in this situation … pls forgive me for my bad English. Thanks in advance
GBPCAD H4 chart … s/r draw from DAILY
