Thanks man!
I was looking at this trade but didnāt end up taking it because of the large bearish bar just before the BUEB formed. Can any of the veterans chime in here about this trade? Iām curious if I was right in my thinking that this isnāt A+ just because of that large bar. Glad it worked out for you though!
quite agree. i have been trading eurusd since late june on the weekly chart (the two most recent swings on the weekly). the thing about weekly is that, you donāt have to be as strict with the pa spec, as you can see it has been moving in neat swings with engulfing and/or 2bar signals for entry
the last time the eurusd moved 750 pips was feb/mar, but the overall trend is looking like a wedge type breakout pattern so maybe in store for another move. if this week closes engulfing iāll be shorting, or longing usdchf
[QUOTE=āadamjn;518460ā]Hey guys, what do you think of this massive pin bar on the H8 chart on EURGBP. I think I am actually going to take this trade on my real account and not my 50k demo lol.
Bar closes in 1 hours time.
<img src=āhttp://forums.babypips.com/attachment.php?attachmentid=49596ā/>[/QUOTE]
Ok, so this trade kind of went south and hit my stop. Anyone with experience care to tell me if i did something wrong or if the pin wasnāt valid.
Thanks
Adam
Sorry, mate. Iāve warned you a few posts ago, but you ignored it. I repeat it again here: āThe pinbar is obvious, but I think youāre running into a huge traffic ahead. It could work, but I will not consider this an A+ trade setup. Maybe just a B setup.ā
On the other hand, my buy stop order at D1 chart has not been touched at all so I still have my hope that this trade will move into my favor later this week. Weāll see how it unfolds later.
[QUOTE=āwm247;518733ā]Sorry, mate. Iāve warned you a few posts ago, but you ignored it. I repeat it again here: āThe pinbar is obvious, but I think youāre running into a huge traffic ahead. It could work, but I will not consider this an A+ trade setup. Maybe just a B setup.ā
On the other hand, my buy stop order at D1 chart has not been touched at all so I still have my hope that this trade will move into my favor later this week. Weāll see how it unfolds later.
[/QUOTE]
Yeh, i see what you are saying boss. On the daily though the price didnāt close within the previous bar, out of interest and for learning purposes, why would you class it as a valid setup?
Thanks
No, thank you for the compliment boss. :60:
I see that you still have not fully grasped Jonās idea about pinbar and PA. Iāll suggest you first read at least the first 50 pages of this thread and then we could continue our discussion here. Good luck mate!
[QUOTE=āwm247;518737ā]
No, thank you for the compliment boss. :60:
I see that you still have not fully grasped Jonās idea about pinbar and PA. Iāll suggest you first read at least the first 50 pages of this thread and then we could continue our discussion here. Good luck mate![/QUOTE]
I have read to page 84 and made a word doc full of notes lol, maybe i have missed something though. My understanding of a pb was, it must close within previous candle, does that mean within the body or just candle? Also, has to form at key s/r and wick must be 3 times length of body and stand out from all other pa.
Cheers for the help and advice 
every little helps
BINGO! Youāve answered it yourself: āit must close within previous candle.ā Jon did not say within the body of candle. He said WITHIN previous candle, so that means including the wick!
Now, my D1 setup is as valid as what I could think so far based on Jonās rule and dudest guidance. Iāll leave it to you as why my D1 setup may still work at the end. Notice that I say āmayā in my previous sentence.
i wondered that for a while too but it was recently clarified by johnathon that it only has to close within the high or low of the previous candle. and the reason he gave which finally exp;lained it for me was if the candles are separated ie price doesnāt close within previous range, it creates extra traffic (er, something like that lol)
edit: dāoh, should have waited ^^
[QUOTE=āwm247;518746ā]BINGO! Youāve answered it yourself: āit must close within previous candle.ā Jon did not say within the body of candle. He said WITHIN previous candle, so that means including the wick!
Now, my D1 setup is as valid as what I could think so far based on Jonās rule and dudest guidance. Iāll leave it to you as why my D1 setup may still work at the end. Notice that I say āmayā in my previous sentence.
[/QUOTE]
Jackpot, that had me confused big time. So within the candle, that clears that up then, thank you!
Maybe i should have placed my stop under the pb and not 3/4 the way down. I will get a look at the daily chart and compare my setup to yours
Win sone loose some i suppose, thanks again bud.
Jack C Iām in this trade as well :59: plus I see that we have the exact same levels marked. Price is currently at a minor resistance level. But you entered before the BUEB was broken bro.
Hey, i totally understand the frustration why some people think it is an A+ setup and some do not. Well, one thing is that we all have the guidelines to measure if one setup is a A+, however, besides the guidelines, its also up to your own discretion to decide, which can be practiced through more chart time and understanding of the guidelines.
Ill explain why it is an A+ setup for me.
Firstly, it is trading in a [B]Range[/B].
Then, i see that there is an huge Buyng bar (in blue, few days before). which shows that there is a very strong buying power at the bottom of the range.
It is true that large bearish bar before the BueB cause a little bit of confusion, however, in my opinion, the BIG BUEB has totally proven that it is true that there is strong buying at the bottom. When we look at the price action, we do not see it as only a signal, we need to understand why this trigger (in my case, BUEB) has formed.
So with my understanding of the situation, the big players are probably behind this BUEB action therefore, i entered.
You can see that within this three days, it is all blue showing strong buying power. Only now, it showed some resistance above.
Hope this clear your confusion.
Jack
Shame poor Dudest, give the man a break! hahahahahahahhahaha
I have a question regarding the time I should look at daily charts. Should I look at them right after the daily candle close? Would it be ok to look at it 2-3 hours after it already closes?
Iām asking this because NY close is around 4AM my time. I usually wake up at 6:30, wondering if that would be a good time to look at daily charts?
Thanks.
Ny close is around 5AM my time lol i try my best to wake up 
most of the time i woke up 2 hours later
Hey guys.
Just to kinda get a feel for the situation now a days. I donāt think Iāve had a trade since maybe early/mid june now, not really spotted anything of signifigance, A+ trades. Is it just me, or are we all in the same boat? I do see charts popping up, and ppl have jumped on some of them. But in my eyes they havenāt really been worth the risk.
Please leave a comment, or just ālikeā if you feel the same. Kinda frustrated! haha.
Best regards!
GBP/USD yesterday rocked H4 Long
i donāt know if itās just me but last july 2012 i had my best month (out of no profitable months lol). this year since late june i have tried this method on weekly time frames and another basket trading method and have made over 10% roi per month with both methods. will probably go back to being nonprofitable when the market picks up
Well, the D1 chart just this morning shows me that price has fallen beyond the strong support line. Bummer, my trade setup is no longer valid in this case. Canceling it and planning the next move:
On the side note, the pending order saved my ass this time. Had I entered the market order prematurely, I would have had my third strike this week. Starting to see the pricelessness of pending order here.
Thanks dudest and Jon! :51: