Is there anyway you can zoom your chart in to make it clearer so I can see? I can’t see any candles… Then maybe I can comment.
On my chart I do not have a pin bar at all so we most likely have different time frame brokers. So if you can make your chart a little clearer or make it more zoomed in would be great.
Johnathon
Hi Guys, this may be a horrendusly noob type question but I have noticed today that I came home from work to see at least 3 very nice signals that I am too late to take - short AUD/CHF, long CHF/JPY and and long EUR/AUD (all on dailys). Firstly would welcome feedback on those signals as they all seem solid to me, but my main question is how do I know when the daily candle will close for the different markets? I am in Australia and don’t get to check the markets until around 7pm Sydney time (its 8pm right now)
Thanks for your help!
Hi Johnathon,
You are getting me really worried now. I was convinced I was using NY close time charts but I’m beginning to doubt it. Please find attached 4hr pin bar.
Cheers,
Would it not be better to wait for the price to reach the previous support level that you have marked and wait for a signal to go short? Such a clear downtrend and not much breathing room from current long entry signal to the marked level (1st target), vs where we would have to put our stop…
I agree with you, I’d rather wait for PA signal to
Form at resistance marked overhead
OK so I see where to confusion is coming in. I simply looked at Bird’s chart without fully reading all the posts behind it. To behonest I was really confused and could not see the chart and that’s why I asked for another one.
The charts you are using are correct, don’t stress.
I am still confused as to what bird means with the last questions. What does this mean:
“Look Good PB at that level…is that Grade A++ PB ?”
Is this referring to the trade already gone or like I was thinking a new possible trade? That’s where I think I was getting confused. I was thinking bird was talking about a new trade possibility.
Johnathon
Phew. I will leave it to Bird to reply.
That is definitely not a bad way to go. Can you not do both? For example if you can see price has a very strong chance to go higher into this level could you not go long and take profit and then look to short and make money coming back the other way?
Okay so one way someone could play if they wanted to do both is they could take a long at the break of the BUEB at place a stop below the support level. Now note we normally place the stop below the candle low but sometimes this can be tweaked. I don’t want to go into this to much but this could be an possible option and would cut the stop width and increase the RR. Traders could then set a target of the resistance I have already marked and this would be over 1/1 risk reward.
Then as said traders could look to short.
This is all hypothetical obviously and definitely not trading advice as the trade has already been and gone. I don’t want to go to much into stops and trade management i,e targets and protecting capital etc in here.
I hope this helps and answers your question,
Johnathon
If price does get to resistance marked its a very good RR trade, im confused as to why you call that a little move. Someone also commented that its in a down trend? Really???
i mean if the last PB can be graded as PB with A++?, because i am still confuse which one PB with perfect setup…
Sorry john,
i am already tell that " My TP already got Hit ",because someone ask @szatek to post picture, but he cant then i am trying to help by uploading my picture,but my trade was already gone…
forgive me for asking what must be the blindingly obvious, but what does BEEB mean?
Bearish engulfing bar
Hey cuddles
Price Action must stick out and make a statement. Here is a BEEB, (Bearish Engulfing Bar) and BUEB (Bullish Engulfing Bar)
Cheers mate
Yeah it is but look at the size of the PA. It’s not very big is it?
The level looks OK and it is a nice pullback in an uptrend but what makes this a pass for me is that the if you look to your left the bearish bars are a lot bigger than this.
So it is this failure to put a tick in the 'size of the PA’column that would make this a pass for me. But I think you’ve got the general concept, and you never know this could well end up shooting higher an being a nice winner. I just personally like to stack the odds a little more in my favour.
Please read through the first 15 pages or so of this thread and read and watch free article and vids here: [B]Price Action Trading[/B] and then you will be right up to spead.
Hope this helps,
Johnathon
Hey guys,
Can help me out? I entered into a short position yesterday when I saw the pin bar on the AUDNZD H4. As it turned out, I incurred a stop loss on my demo account.
Can you comment whether the setup is sound so that all of us can learn from it? When I entered into the short position, I thought it’s okay as the pin bar is formed at a resistance level. This pair is also in a downtrend before it started to consolidate beginning this month. It also seem to promise a good risk reward ratio.
Thanks in advance!
Hello yes I can help you. The trade or Pin you are talking about is technically NOT a Pin Bar as it did not close with in the previous candle. This is one of the first rules to pins which defines whether they are pins or not. Sure you can be like most price action traders and trade all price candles that “look” like pins and you can be like most traders and loose, or you can be like the few disciplined traders and only trade the bets setups and the “real” Pin Bars. For more info read this article: Pin Bar Reversal Will take you two secs and explain it a little better.
Okay so what I did was take the trade on the 1hr chart that we were talking about yesterday. Price did go lower and ran into trouble and I was taken out at BE. See charts for explanation:
AUDNZD 4HR NOT A PIN
AUDNZD 1HR PIN STOPPED BE
Johnathon
Hi Johnathon
Thanks for the quick reply! Will look out and bear this in mind in future trades 
