That’s my thoughts exactly - and I assume we’re building some tremendous willpower here:cool:
I’m wondering the same thing.
The BUEB formed right on my SR line (bearish bar went below it but the BUEB has now closed strongly above it).
But i was looking to go short with the big trend which is down :33:
So i guess i’ll take my position along the sidelines on this one 
Remitu
I am with you remitu. Pass mainly because FRA bit too close, and the recent strong down momentum.
ps. having said that, the BUEB on the previous swing low worked pretty well though
Thanks mate this may also help haha 
Thought it was a good place to enter. Although the Pin is not that obvious but i thought it was ok. Got stopped out lol
And ya, i enter with retracement instead of breakout, if not i wont be in the trade 
That is not a pin bar mate.
I’m in this trade guys. Its still not too late to enter!
BUEB at support + 50% retrace!
RRR 0.83:1
Not bad!
Why not ??? 
o
[QUOTE=“jackson905;506219”]<img src=“301 Moved Permanently”/>
I’m in this trade guys. Its still not too late to enter!
BUEB at support + 50% retrace!
RRR 0.83:1
Not bad![/QUOTE]
Where did you enter the trade?
Near 1.6531
[QUOTE=“jackson905;506222”]
Near 1.6531[/QUOTE]
Where you planning on taking a retrace entry? It’s good practice to play your PA signals at the break of the signal especially for us newbies. There’s a method to taking retraced entries on engulfing bars and your entry is something that’s not taught using this method. Don’t change your trade plan now but maybe something you can think about for your next trade.
Good luck with this one. Hope it works out for you
Regards,
Eddie P.
Sorry i mean it is not a valid pin bar to trade.
to be a valid pin bar,
1st : long tail rejecting resistance/support line (not fulfill that pin bar)
2nd : formed at swing high/low ( this one fulfill in that pin bar)
3rd: for bearish pin bar must have a close below the open , for bullish must have a close above the open
4th : is better to have a small head and small body
Thanks man just one thing though, as long as the body of the pin close within the previous candle, its fine but yeah, i agree that wasnt a nice pin. I took it because i was out of patience i guess lol
Hello everyone,
Today I need your help about managing trades.
Below is an image showing a trade I entered based on a BEEB formed on AUD/NZD daily. (Someone had mentioned it here too)
I took one position and I was waiting to see if it’s able to make a new low. My plan was to trail my SL as it moves in my direction. But now I am not sure how should I do this. In fact I don’t see any suitable level (like a lower high) to move my SL there. I prefer to close it here instead of just letting my SL get hit 50-100 pips higher.
And the second trade is a trade based on a PB on CAD/CHF daily chart. (It was mentioned and discussed here too)
I see that it is just wasting time around my entry without going up/down. What would you do if you had entered this trade? Would you close it for a small loss?
It would be really nice to know your opinions as I’m yet learning by trading on a demo account.
Thanks
Not at my charts at home (still gotta work for the $ :D) but it looks good to me (if entered at the break of that BUEB ofcourse).
Didn’t see it when checking NY close last night as i think i have my S/R zone abit lower.
Good luck on the trade!
Remitu
Yeah i agree.
Since i couldn’t convince myself which (clear) direction price was heading i decided to stay away
If it were to move higher now i would start looking for signals to go long in the future.
What do you think?
Remitu
Why would you want to close the CAD/CHF? By the looks of your chart, price still hasn’t managed to close above the S/R line you’ve drawn. How will you determine when your PB has been invalidated? Is this a part of your plan?
you’re right, it’s not invalidated as price hasn’t broken above the Pinbar tail. but I was wondering that should I have kind of rule to ignore or exit a trade based on time. In fact i expected to see a sudden break while it is just stalling.
I wait CadChf too…
Tomyates how will you determine when your PB/BUEB/BEEB has been invalidated? I don’t think about that for my strategy…
Hehehe
Sensei says:
(1) “We are only concerned with the short term momentum. That is why the 1,2,3 pattern suits out style so much because it shows change in the short term momentum.”
(2) “We are swing traders looking to get on the right side of the next swing.”
With those guidelines in mind, we are only concerned with the last down-swing, that is our trend (i.e, DOWN).
Thus, the BUEB is counter-trend ( and a super counter-trend for those with CT in their trading plan ).
So for with-trend trading, waiting for correction upside and then waiting for sell signal would be the high probability play!
.