No need to get technical lol 
@Kasravi EUR/AUD is Nice Chart. Even candle on 28th also a pin bar, tested lower levels but closed at almost high of the day.
Just a early indication of trend reversal. Even though not strong enough to trade, nice chart.
Alright
Ye, itâs a risky setup.
But I wonder why people donât check these little things, like how a signal has formed. I mean, how can one boast about a signal (not in this case particular) and how valid it is in terms of size and everything else, if the actual form has been shaped in a time frame lower than 15 mins. (Breakout) Specially if its in the last minutes of the biger time frame candle close.
And the corrolation is another thing. People dont take it in consideration, where I have had some serious conflicting trades where I see very strong PA signals in oposite dirrections on very corolative pairs. (meaning, they should both go in the same dirrection). In the end, one patern prevailed and went itâs course, and the price in the corelative pair moved side by side with that pair, and went in the PA indicated dirrection only when the first pattern had gone itâs course and made a reverse.
I chose to not check these corrolations most of the time to save time and because I want to keep things simple, but in the end I donât see any other good argument to ignore them.
well its something to consider referencing the time frame Iâm not sure how important it is if shows up on the 15min and looks good on the daily.
And your absolutely correct correlation is very important as if you take two correlated pairs and trade both with the usual lot sizes then you are doubling your risk.
Darth
It sometimes look good on daily because the whole move has happened in the last minutes. Aka, there was a huge break downwards and then the price, just as fast, recovered creating a huge vick forming a pin.
I mentioned that in my first reply, regarding the one minute TF. You can check it out to see what I ment.
Hi SkyHigh,
IMHO, it doesnât matter in which bundle of minutes action happened that caused a D1 candle to finally end up a given way.
The fact is, the whole candle was formed within a 24-hour period across all trading sessions; doesnât matter which session contributed how.
Keeping it simpleâŚ
Cheers
Hey Bret, not sure what you mean? are you talking about the small pin bar which was the last candle or your waiting for a pin bar to form at the vbrn?
Darth
That was a good question from skyhigh since it might be mind buggling for many, but as dudest said the daily
candle gives us info about all trading sessions of the day. You may look at it like a daily sum up.
However you are completely right about not trading a signal that you feel has not met your satisfaction. In the
end you open positions only when you see a clear picture.
Cheers
Recapping this one shows how important these levels especially when not trading with a clear trend. These minor levels will often give way when we are trading a solid signal from pull-backs within strong trends, but when there is no clear trend price is a lot more likely to hold.
Nice one! Area is always more important than signal and as you said whilst the 2 bar was a killer 2 bar it was against a strong trend and straight into very strong resistance and so if we take away the 2 bar it really did not have anything going for it.
Heya Amy,
we were adding some things to the site for a little while which took longer than we thought, but was back up after a little while. If you have any queries or problems or you need to know anything you can message me/email me and I will let you know as sometimes I donât get time to check in here everyday.
Johnathon
Heya Amy,
nice charts, but please keep em clean with no indicators or emaâs etc. Any questions please refer to post one here: http://forums.babypips.com/free-forex-trading-systems/42378-forex-price-action.html#post309168 or let me know.
Johnathon
My humble opinion. Itâs a real nice looking PB but itâs
- In an uptrend
- Broke resistance
- Not much room to move down (R:R is tiny even if you do take Counter trend)
- Previous candles donât show sentiment to move down. (Personal rule of mine, unless itâs a huge rejection, previous candles should show small signs of reversal as well in order to take.)
Hi Johnathon
IMHO the pin looks good in structure but I feel its tail is not long enough/strong enough to be a CT.
Having said that, it has rejected BRN 1.6400 and closed below it so I am looking for it to retrace and then I would take a long trade (continuing with the dominant trend) at FTA 1.6250 on a good PA signal.
Kiwiman
In regards to your number 4; how would the previous candles show sentiment that they wanted to move lower? or signs or a reversal?
Hi Johnathon,
Nice to catch you here, Iâm mostly sound asleep when you are all awake!
I was thinking about that cable setup too.
Thoughts that came to my mind were:
minimum noise, somewhat room to move or to take some money off the table before it possibly reverses.
However recent blows higher makes it a total CT and I prefered if price fully rejected 1.6500.
That said you know that gut feeling you were talking about a while ago, I ABSOLUTELY feel for that one!
Cheers
So what you gonna do about it then?