[QUOTE=“tonyro44;522461”]Good observation Krugman chances are that someone would do just that.[/QUOTE]
I was referring to a micro account…sorry for the confusion.
[QUOTE=“Forex School Online;522452”]
A+ signal? I am scratching my head trying to work out where exactly the signal is. I am not trying to be overly blunt, but you have openly admitted yourself that your are over trading and then continued doing it so I don’t have much sympathy. You either are just a sucker for punishment or you really lack control? This does not come close to being a Pin Bar. it does not fit most of the requirements. As the other poster said those were some solid levels.
This thread has got a lot of people on the right track and you can be one of them, but you have to put in the work to. If you have not read the very first post and what it recommends you should have read then please do.
Johnathon[/QUOTE]
I’ll go back and drill this into my head more. Not gonna lie…coming off a dry spell and seeing the PA system sparked my interest and I may have gotten a bit ahead of myself. Thanks for keeping me honest though. I’ll just quietly observe for now.
Take care,
Your doing great work with the charting bigcheefer30, this pair is worth looking at thx.
Understood- the word “retrace” is thrown around alot and I tend to over analyze things so I was thinking you meant retrace in terms of a FIB retracement. I.e. the market is retracing on the way down. Waiting for a 50% retracement of the pin bar the day after it forms can easily put you out of the market. I’ve watched some more of your videos again, did some more reading, and see that the proper entry would be the break of the low of the PB candle.
This setup just looks so similar to some that have been mentioned on the first 50 pages or so. I’ll continue to analyze though.
Looks like we’d want to look for something like this to happen, before getting into this trade (grabbed this from an earlier post in the thread)…
Thanks
I can see why this isn’t the optimal set up. I see a bearish bar (which almost closed out as a BEEB) formed at a swing high, and if you were to go short (which may not be “wrong”), you’d be trading INTO a major significant level. Additionally, this trade is against the trend, and we’d need additional confirmation following any pin bar in the fashion of the next candle breaking through the close. Not saying I see a PB, but if this was one, and you were looking to go short (which isn’t PERFECT), you’d need price to break that close.
I think It’s a+
I classify it as a Pin.
Would you like to put forward the points why it is an A+ setup or a very high probability setup? That sounds like I am challenging you, but I assure you I am not in anyway, I would just like you to put up your charts with your points of view of how you are seeing things and why you see this as high probability… It sure is a large bearish rejection candle.
Thanks for reply , you’re right .
I didn’t notice the big rejection candle on daily time . I saw the big movement on 4h and I thought we should trade on this timeframe and don’t care other timeframes like daily but We should check larger timeframes for a trade but if we want to trade on daily timeframe we shouldn’t care 4h or 1h . is that correct ?
Thanks
No you really want to check all 3 T/F 1hr, 4hr and D to get a better direction, its better when they complement each other.
Hello everyone,
I am just 3 weeks into trading and I hope you don’t mind providing me some help in my analysis to get me started
EUR/JPY daily I see a shooting star at a major resistance line so I think I should short
GBP/JPY 4H chart I see the engulfing with shooting star and down trend already began so it is a good time to enter short
EUR/CAD daily a huge shooting star so also thinking to short
Thank you for your thoughts and insights
In my opinion that pinbar is way too small.
I am also planning to go short because there is pinbar at DAILY chart. Pinbar is also formed at major resistance level.
This would be trading against the trend… And it seems that pinbar lies in no mans land.
i like the first 2 , but i wouldn’t trade the eur/cad
aleksihe billyboy402 thank you a lot for your help
Can you please elaborate a bit more on where to put my SL and TP ?
also why EUR/Cad is not relevant ? the pin bar looks huge to me and at the highest it had ever reached in months you mean we need like a confirmation or something because we are not yet sure the trend is done ?
thanks again
Hey everyone! Hope you all had a nice weekend so far!
Just had a quick look at the USDCAD and saw a really nice bearish pin bar on the daily chart. I know it is a counter trend trade but what do you guys think of this? If SL is placed above the top of the PB and target at FSA this would be a 1:1 risk/reward setup. This pinbar really stands out nicely from the other candles.
