I do not like to trade pairs with that much spread, if i do there has to be a very good chance of success on the trade. UOTE=andream1977;502629]aaargh with 7pips of spread i prefer to choose ther pairs for trading, and removing it from my watch list :-)[/QUOTE]
See that,s what i was talking about)I hope you were not trading with real money
http://forums.babypips.com/attachment.php?attachmentid=47560&d=1371829999
You drew yourself a support there buddy and your bearish pin should be piercing it with itās tail, not with noseā¦
I convinced myself, that tiny movement below this support was a āswingā, so the support has turned into resistance, and was tested with this PB:29:
You traded here right into the support that you drew quite well.
Just think of pins as the price that tested the level and then āquicklyā retraced (retreated) from it. And the direction it retraced to is the direction you want to follow from then onā¦Itās really a simple signal, but in my opinion possibly the most reliable one in this market. I hope I helped you some.
cheers
I know i m a bit delay but really wanna know why the bullish pin bar occured in EUR/USD n GEP/USD failed?? They were at swing low at support with PA confirmed on an uptrend. Or is it just bad luck?? Thanks lot
Could you say whatās the TF and the date m8? Because I see no bullish pins on h4 or D1ā¦
They were playable but you were also playing into a huge selloff, which means you had some momentum working against you. You also have to remember that pinbars donāt always play out how you think.
[QUOTE=ālittlemorepips;502432ā]
Hi Ansunirmal, did you enter that AUS/USD trade manually or by a sell stop order?[/QUOTE]
Manually ā¦
I was using the 8hr TF and thx alot for the explanation 
Thank you for your explanation!
Iām sorry, if the question is silly - do you mean that since the body of PB is above the Support, then what I thought was PB nose (long wick) was in fact its tail, and what I considered to be a tail was really a nose? I thought, since SR lines are really a āzonesā, then PB body may as well be seen as located below the line, so long wick is a nose, as typical for such setups.
Hereās how I saw the picture:
Arrows shows what I was expecting from price.
Your thoughts are highly appreciated, Iām kinda stuck hereā¦
Hi Sergei, what might you say about the 6 candles that preceded the pin bar if you were going to describe them?
Hi! At first Iāve considered them a āswingā, so I interpreted PB as a bounce from old-support/new-resistance. After price hit SL I presumed they were a series of indecision-candles (they all have tiny body and lined in classical āflatā formation), and a prolonged testing of my support (which was never broke). Guess Iām just fooled myself:confused:
Thanks for reply, Iām interested to hear your thoughts!
Your tail and nose is opposite. For bearish pin bar , the tail should be on the top while nose on the bottom. For bullish pin bar , tail on the bottom and nose on the top~
Hello everyone,
taking fib retrace or random retrace entries simply does not work with what we use in here! I have done extensive testing over long periods of time and not only does it not work more to the point it does not work with the method you are taught in here. It could be tweaked some how to to work with some other method or system, but if you are going to use random entries I can PROMISE you, that you will lose. Our whole method in here is geared against it. Our whole method is geared towards having confirmation and using the power of price going your way and in your momentum.
When we are taking an entry at the break we are taking an entry with price moving in our direction. Price is moving our way with momentum on our side. When we use random retrace area price is moving against us and we are simply just hoping that price will change direction. We have to take an entry and hope like hell that price will some how get the orders to change directionā¦ to make us a winner. The other difference is where orders build up. Have you ever noticed that when the low or the high of the pin breaks price will often spurt really quickly? This is because that not only is your order there to enter when price breaks but a lot of orders are there when price breaks. This is not because the low/high of the pin is the previous days low/high and when it breaks a lot orders are triggered in your favour so at the same time your pin entry is triggered price will often quickly spurt and often give you a really quick chance to take profit or get into break even.
Basically nothing makes sense to take retrace entries on pins or two bars. Nothing. Over the long term they do not work out profitable and our whole method is keyed completely against them. It is not a matter about whether you like them or not, our whole method is geared against them all together. If you are going to trade them you may as well flip coins.
As for retrace entries and engulfing bars that is a completely different story. But with the engulfing bar retrace entries you would never ever take random fibo retrace entries. Random fibo entries are just simply not logical. If we ever take retrace we need to use what we use for everything else: Price action.
Please no more talk about retrace entries. They do not work with what we trade with in here. They may do with other systems, but with the way we trade they simply do not.
Safe trading all,
Johnathon
1 Like
Hi Johnathon ,
I have a question about engulfing bar. As stated in your website, engulfing bar only need to be obvious and large , appear at swing point. My question is, should engulfing bar formed at support or resistance area? Or we can take with a swing without hitting the S/R area?
Hey guys, hope to hear your thoughts before markets open?
USDCHF D1. Despite the short-term downtrend, support here seems significant. We have seen 3 BUEBs form at these levels before, all of which have pushed price higher. We do seem to have some resistance just above, but if we see a break of Fridayās BUEB (and this level) is this a good signal to go long?
GBPUSD D1. BEEB formed at resistance. Two cons, although they donāt seem that important:- trading into some traffic (green box) although price moved through it easily on the last downturn, and we might be seeing an uptrend with recent higher lows and higher highs?
Both Engulfing bars didnāt form at the right swing point, definitely pass
We only trade BUEB at swing low, and BEEB at swing high
Thanks! I think I see the flaws in both trades now. The first I think I was looking for price to reverse, and the second I had thought WAS a swing point. But really itās not.
Hello Shane,
I am not Johnathon but I can answer your question with confidence. Every Price Action signal traded here is taken from a S/R area including BUEBs & BEEBs and of course should be at the correct swing. S/R areas are the bread and butter of this method, if PA is formed at an area that has no S/R or as they say āno manās landā we donāt even look at the PA.
I hope that helps. May the force be with you 