I put the Demo trade on just to test & track it, i learn better from making mistakes :13:
I am still in the process of digesting all the info on first page link, but from what i understand in this method you set the TP at next Daily S/R levels, and then take partial profits or Set to BE at pre-determined levels (Where?)
Hi all, I have been following this forum and it has taught me a lot. I am still very new to this forex stuff but love the price action strategy. I to saw the set up with the NZDJPY on the 8hr chart. I know my charts are not NY closing time, but this is what
I saw, decent BUEB. My only issue was the R:R. Seemed I was risking too much to make a profit
That pair offered an A+ trade opportunity posted by good Johnathon a few days ago.Now Price managed to break support and create a flip point! Those areas are marvelous in order to look for signals to position ourself with the momentum.
That said a neat pinbar on the 1hr chart presented itself right on spot! Price broke the low of the pinbar and triggered
my Entries. I believe playing from such an level with the recent strong momentum is an excellent opportunity. Given you
are not already on gbp/chf short.
Wish all the best and as always looking for peers input.
This trade will probably workout for you coz your awesome but couple of things about that pinbar, its not a great example of a pin bar, too much bottom wick and small compared the previous bar especially since its been played off the 1H charts. But as this pair has been trending down hard your probably be ok.
You are right it is not the biggest of pinbars,but price still closed in the 1/3 bottom half of the candle thus the lower wick
is still in the green. As you said the size of the pinbar is acceptable since I’m positioning myself with the down trend anyway.
Hey… erm they must be a scratch on my monitor?.. Point taken, its a habit, i’ll make sure i clean them up if i post.
You’re right its a sunday candle but either way it should get rolled into the monday candle which i cant see happening on other peoples charts which is odd.
For those who use other platforms and think the Bueb is too sharpish than have a look at the 8h chart which has formed
a lucrative pinbar/bueb. All in line with the daily trend and from a solid support level.