HI Guys
i am a newbie, do you think about this PIN BAR. is it A+?
EURCAD 1D
AND EURCAD 4H
[QUOTE=âallibaba986;495564â]HI Guys
i am a newbie, do you think about this PIN BAR. is it A+?
EURCAD 1D
<img src=â301 Moved Permanentlyâ/>
AND EURCAD 4H
<img src=â301 Moved Permanentlyâ/>[/QUOTE]
I liked a lot about that setup. My biggest problem with it is that the pinhead formed right above a big round number, so it will have to break through that immediate resistance. It also just barely, if at all closed within the last candle. It is going against long term trend. Finally it would have been nicer to see the pinbar have formed a little higher, so the tail is protruding farther outside of the resistance line.
Hello allibaba986
I just follow S/R Daily area and if i wont get any any PA then i switch to H4. But sometime i switch to H1 also for PA. But i think we need more practice to look H1 time frame for PA. I am still try to learn and implement what i learned from this thread. D1 and H4 are more reliable then H1.
Hi Johnathon and Guys, sorry if i make a mistake, because i am just a newbie. Can you tell me what i was wrong on 2 chart :
USD/JPY 4H :
EUR/JPY 4H :
thanks so much
yes, i agree with you, i also like to follow S/R on DAILY and 4H, and then i find PA on 4H and 1D. I just use 1H to check my decision. I think PA on 1H is also important too, but i can not use it now, because i need to practice more and more.
nice to know you.
USDCAD H4
Iâm new but is this a good looking pin bar? In an uptrend, formed within previous candle (not closed yet)
just my opinion:
- the pin bar is tiny, we need big and obvious pin to form a good setup.
- look like form at no man land or form at a not significant area.
- according to S/R line you draw, enter trade like trade direct into S/R level.
hi Johnathon,dudest and spongy, please correct me if i wrong.
Rgds
TEE
Yup youâre right. A few good points there I missed.
Thanks for feedback 
I entered into this trade and have now taken 50% profit of the table at my TP1 and moved my remaining position to breakeven with a final TP at 0.82850 
Remitu
Hey ansunirmal,
Just checked the setup out on my phone and i noticed the candle hasnât closed yet on the daily chart so it is kinda hard to comment on this.
If the setup were to remain the same as it is now (daily chart) i wouldnât consider this a viable trade.
The pinbar is with the trend but the previous bars are HUGE compared to this.
So we cant say that the signal is sticking out which should be more then enough reason to pass on this.
On the 4H charts (i dont trade these yet) i notice you entered already but those 2 last candles both arenât pinbars.
They dont open and close within the previous bar. It is close but still not quite.
Good work anyway on posting up charts to get some feedback.
I do the same and find it to be very usefull for learning.
Remitu
[QUOTE=âRemitu;495748â]
Hey ansunirmal,
Just checked the setup out on my phone and i noticed the candle hasnât closed yet on the daily chart so it is kinda hard to comment on this.
If the setup were to remain the same as it is now (daily chart) i wouldnât consider this a viable trade.
The pinbar is with the trend but the previous bars are HUGE compared to this.
So we cant say that the signal is sticking out which should be more then enough reason to pass on this.
On the 4H charts (i dont trade these yet) i notice you entered already but those 2 last candles both arenât pinbars.
They dont open and close within the previous bar. It is close but still not quite.
Good work anyway on posting up charts to get some feedback.
I do the same and find it to be very usefull for learning.
Remitu[/QUOTE]
You are right Remitu I am wrong thank God trade close some + some pips
Yes Krugman, I think I should look 4 hour charts too, it was a default setup on the broker, lets see it on a 4 hourâŚ
Yes, i think it is A+ trade. But i will wait for close candle on 4H.
Wait together now
I wait it too but resistance at 0.93000 worried meâŚ
The PA signal was decent. but the pinbar was a little too small. Support was around 1.0340, which price closed above for the candle. If you take a look at the next candle that followed price did push up to first resistance @ 1.0387, so it did end up playing out.
what do yall think of this pin barLIKE candle fomring on the 4h chart around. Alot of price action in past at this support level.
Please disregard USDJPY chart
You have done a good job at finding important support and resistant levels. But from what I can see in your charts there are no PA signals. Your charts were a little hard to see, so I pulled them up on my brokers software. The daily bar for USDJPY hasnât finished up yet. But for the sake of argument lets pretend it had, in your chart, you have a bearish pinbar that formed directly above support. What you are looking for is a bullish pinbar at support and bearish at resistance. You donât want to be shorting into support, when everyone else is looking to go long. A bearish pinbar that forms and closes above important support is actually a reversal signal, and shows weakness in the bears.
as for the EURUSD 4H charts, if you are talking about the last candle on the chart. That candle also hadnât finished forming, but if it had, here is why itâs not a PA signal. It is way to small compared to the previous bar. The tail of the pin doesnât protrude past the upper wick of the previous candle. from what I can see in the picture, it looks like it formed above support, so again you would be shorting into support. That candle could just be a breather before bulls push higher.
If you havenât already, the first 50 pages of this thread are an absolute goldmine and give a good solid foundation into properly identifying PA signals.