I’m still at that stage…
…What I’m gonna do about it…
Cheers
For “sentiment” I’d look for previous candles that may show wicks and size(spread) in the direction of the reversal basically. If I had to give an example using this pair, 8/27/13 and 8/28/13 on the GBPUSD both show bullish PB’s. I did not take the previous one as it did not hit the support line that I had drawn and the prior candles had shown selling strength with the upper wicks, but took the second one because it had touched my support line AND had shown previous “strength” or “sentiment” in that previous candle (8/27/13) to that general area.
Another example I could give on this pair (GBPUSD) would be DAILY 7/31/13 - 8/02/13. We see a bullish PB (Not a PB in the strictest sense and one that I did not take). It does rest on top of a nice minor support line right smack on the 1.52 RN but it did not show much sign of going up judging from the previous bearish bar and the previous lower low, which we then see in the next bearish bar on 8/01/13. This bar (8/01) was interesting because it took out the stops that may have been on that previous PB (which some may have taken) and then the next day proceeded to produce a BUEB right on top of the 1.51 RN along with on top of the 50% FIB line. So in my eyes during that time, there was a support rejection, stops were taken out, and then price pushed up to continue the way the previous bullish PB indicated.
There was another one that I saw many people take. It was the GBPCHF DAILY Bearish PB on 8/15/13 that you had written an article about. The “sentiment” that I saw came from the previous 2 bars. You can use the large wicks seen on top to further give confidence in the bearish PB and that was discussed. We would normally not trade those large bullish bars despite the large wicks because they aren’t valid signals, but we can definitely use them.
Another instance on the GBPCHF DAILY 9/18/13. Large bearish PB that was also discussed here. The pair has been in a long term range and short term uptrend and it has hit a resistance as seen with another bearish PB on 5/15/13. Large wicks on top followed by lower and lower closing prices showed “signs” of weakness around this resistance level. There was a bearish PB right before this one on 9/11/13 but it not show previous “signs” of rejection prior to the PB.
I guess you could call this my way of seeing the PA story. I only begin to look once I see a valid PA signal. If I see a gigantic, stick out like a sore thumb signal, I can assume the “sentiment” has changed. I also take into consideration the size of the candles. Obviously larger candles with little wicks show strength in either direction. Also, of course you can’t use this alone and must be used in harmony with PA, S/R lines and whatever other people may use. I believe many people who start off in PA get lost in the idea of ONE CANDLE TO RULE THEM ALL type of ideology and take 100% emphasis on THAT ONE CANDLE, instead of looking at the PRICE ACTION STORY to support as you like to say.
I’d like to see the EFFORT to produce the RESULT in any of the candles I trade. A small PB needs more “effort” seen from other candles to go the direction of the PB, but a gigantic signal has shown the effort already and could disregard previous candles, like the DAILY bearish PB on GBPUSD 1/2/13. I’m sure many have made a killing on that one hahaha.
As for the PB on the GBPUSD, I just could not see the pair making a COMMANDING move down to take over the bullish momentum. I can see it go down a bit but of course that’s not in favor of probability and R:R.
Forgive me for typing too much. Opinions are always nice 
Hope I didn’t make any mistakes.
It is a pin to me, it is also at a right level (1.6340) but cable has been showing a strong upward force. Is there a pattern showing a continue of the uptrend that im missing?
For me it is a trade I would be willing to take. Yes it is a CT trade but it depends on how you play it. There is profit to be made there I believe. I have already placed my pending orders! As long as it is in my trading plan I will take it…,
How are you playing this one? What will be your trade management plan if you don’t mind sharing?
I am interested because I think there will be quite a few taking this and I think there will be quite a few different methods of management… and obviously there is no right or wrong here…
There is a small bearish move to be had into the 1.63, but I think overall we will see a bullish move on this pair soon.
The weekly has broken out of a consolidation box between the 1.59 and the 1.63 and is retracing back to the 1.63 before continuing on.
Hi all, this is my 1st post here.
IMHO, it is a good setup although it is CT.
I think it is a start of a pullback to area around 1.6239. So, if enter at 1.6332, it has around 100 pips profits.
Hope it work out.
Cheers.
- Is price at a significant S&R level?
- Is there LARGE PA?
- Is it at a swing high or swing low?
I can only say yes for question 2) at this moment
meirk
GBP/USD 1h TF
I went long on this one. It’s a short term trade based on what I call “N” pattern, and it is one of the most reliable patterns in my book. So I am using it as a reference to a retrace entry.
When this pattern completes I will be taking a short, most probably.
Edit: Just added SL to BE 
Hey guys can [B][I][U]someone who uses[/U][/I][/B] the ForexSchoolOnline Methods tell me the following, I am thinking of membership
- How may setups has this method generated [B][U][I]for you[/I][/U][/B] per week or month ?
- What is [I][B][U]your[/U][/B][/I] Win rate on average ?
Thanks in advance
Hi sky,
As far as I concern you get a retrace entry once price broke the pinbar and moves back into it.
Just keep an eye out for that.
Cheers
I agree, no trade here for me.
Hey Kas~!
Not sure on the methodology, but as I see it, in this example, if price makes a strong move upwards in begining with out breaking the bottom of the pin, then it counts as a retrace. I think it is very unlikely that the price will give another retrace entry after breaking the bottom of the pin. (in this scenario, since it already ventured up quite a bit. )
Edit: N pattern, more or less, finished. I would look for a sell at this point. But who knows…
ok firstly there’s too many line on the chart, I’m going to guess you mean the most recent pin bar.
for me its no trade.
- daily hasn’t closed yet ( I’m not sure if your waiting for it to or not)
- It’s a counter trade against a very bullish momentum downwards. I would want a much bigger PA to CT against it.
- Personally I would want more the wick protruding through the line to show a real rejection.
Well done for posting a chart. It help you, me and everyone to learn.
Darth
Hey Adam just because I wouldn’t trade doesn’t meant I’m right. You have to be your own boss on these matters.
Regarding your graph for GBPUSD, what are you trying to trade? ie PA, direction, entry, exit, reason?
Darth
hey guys some general questions,
when i read through some older posts, a few guys showed trades on timeframes like D2, H8, H6, H12. no i dont ask how to get that 
my question is. does it makes sense to use these timeframes? dont we want to trade from timeframes which are used by a majority of people to get our high profitability setups? do you understand what i mean? when i see a setup on D1 and on H8 i would like to join it on D1 because more people or institutions are using this timeframe. maybe someone can write something to this
kind regards!
Valid point, the way I look at it is if its an A+ setup on any time frame 4h plus. then it’s valid as long as you play it from that timefame. I would also like Jonathon or a senior to clarify this though.
Good question TSE.
dARTH