Man, what im saying here is that trading recent momentum is the key here and by looking far back is only going to complicate things. I’m really just trying to help you to get through the confusion you are getting now. Yes i totally agree that PA is very subjective but there is an parameter that can check you in line with such as recent momentus, BIG OBVIOUS Pin Bars ( although we cant define big but you will know when you see one), trade from swing high/low etc.
The two charts i posted is not trying to show you how did the price react, it is to show you how to see things from Johnathon’s eyes and when he analyse the chart, this much of price info will only be showed on the screen instead of years of infos and SRs.
Cheers!
P.S. good to know we have a fighter amongst us lol
I respect your opinion and appreciate your comments. The only difference I see between timeframes is the inherent risk as the timeframe gets lower, otherwise in my mind everything is the same. Markets are fractal which means inside of a weekly pinbar, there may be daily pinbars, and inside of a daily pinbar their may be hourly pinbars, all the way down to the minute candles. The same signals are being thrown at all timeframes, except that the lower the timeframe you go the more at risk of whipsaw and noise it becomes. While I may handle trade management more cautiously on lower timeframes, I don’t actually see any difference in the price action or the results I expect from PA signals.
There is a cookie cutter method that is thought here which is 3TP levels and moving to BE at TP1. It is easy to learn, easy to execute, and can get you good profit while protecting capital. I think it’s a great money management method and one I use in about 90% of my trades. But if need be, as a trader I will tweak the standard cookie cutter method based on a number of dynamics that I see in the market structure.
Whether you do the standard method or maybe change it up a bit for a specific trade, doesn’t matter as long as you are doing it as a “PRE-PLAN” and not because of a sudden emotion. And also if you are doing it from “trading experience” and not greed or emotion. If I only have 1 TP level, or move to BE early, it’s because I had already planned to do it, and it is just a robotic action to my trading plan. I have also traded like this long enough to get a statistical idea of it’s success, so i’m not wondering if it works or not
I try and keep any tweaked MM plans to myself unless specifically asked about a trade, because I think there is huge importance to getting down this method and getting successful with it. If we all stick to the standard method here in this thread then we are all on the same page.
[QUOTE=“jackson905;541792”] Man, what im saying here is that trading recent momentum is the key here and by looking far back is only going to complicate things. I’m really just trying to help you to get through the confusion you are getting now. Yes i totally agree that PA is very subjective but there is an parameter that can check you in line with such as recent momentus, BIG OBVIOUS Pin Bars ( although we cant define big but you will know when you see one), trade from swing high/low etc. The two charts i posted is not trying to show you how did the price react, it is to show you how to see things from Johnathon’s eyes and when he analyse the chart, this much of price info will only be showed on the screen instead of years of infos and SRs. Cheers! P.S. good to know we have a fighter amongst us lol[/QUOTE]
I agree with what you’re saying about recent momentum, and also, most likely any historical zones that are relevant will be reflected in what price is currently doing…I.e. A huge pin bar.
Just got back from sparring tonight, no amount of tiger balm can heal right now lol. Take it easy jax…if you take those positions please let me know how you make out!
Hi all,
Does anyone have any thoughts on the pin bar forming on the eur/gpr H4 , I know there is still 30 mins to go but if it forms just above support at 0.8400 could it be the rare A+ setup ?
correct me i fi am wrong, but i feel that it is in a downtrend. that may signal a pullback reversal, so entering is a CT trade… wait for it to hit the resistance and follow the trend and go short?
Thanks Jack, I see what you mean, that’s very helpful and gives me a better idea of what to look out for. They both would have been very nice trades too!!
Thanks wm247. It’s a nice change from driving tanks, blowing things up and listening to that crazy fool Benedict banging on about Celebrity Big Brother and Kate Burley from Sky News. I like to think that my trading experience began sometime ago, when the A-Team finished and work dried up I inevitably turned to copious amounts of gold jewelry and crack cocaine. It wasn’t long until I found myself trading in women and midgets to support these two addictions. Now I am mostly clean again, I am ready to get back on top so I can ditch this crazy fool Benedict once and for all!!
That is a whopper of a pin bar!!! So tempting but it would be against the trend, could it signal a reversal? I believe this pair are currently fighting it out at an important level. Which way will it go?
For this trade, I decided to let it run and have moved my SL to BE. I was considering pyramiding in after seeing the strong downward movement, and space to the next major support level. But, it’s a Friday, and I’d like to close this out if I can before this afternoon. My initial target was around .84339, giving me a nice 1:2 ratio. When I saw the BEEB close beneath the low of that recent support, and then fail to test again, I knew we were in business.
I know it was posted but under my understandings it deserves much more discussion. Regarding NZD/JPY 2br.
Moreover that previous area wasn’t much of an issue 2-3 days ago when you went long with a pinbar forming on the H4.
Reason behind it I understand might be that you were trading a lower TF and weren’t bothered with such a time span.
Fact is it is that the 2br is with recent momentum from a key support level and it has got room to move till next resistance. From what I can see we all have pretty much same S/R lines.
Does that make sense?
I am looking forward for more input from yourself and fellow peers.
[QUOTE=“eignerdauL;542065”] I´m glad that this trade worked out for you. BUT IMHO you are not selling from a swing high, instead you are selling from a swing low. regards[/QUOTE]
Agreed…when market momentum is strong, sometimes there always isn’t a perfect pullback to where I want to trade from . There were 2 bullish candles that failed to break through previous resistance before the beeb, and I read this as a key signal that we may be continuing downard. When that support was broken, my prediction was confirmed, and the sell order was placed. Additionally, the overall trend was down too, and this signal formed around a significant level. Appreciate you taking the time to check out my trade though… Have a nice day
a bit too late though …
