Am looking at this one too… where are you looking at for your TP? Any Resistance level in particular?
I have some S/R related questions: It’s about GBP/JPY and its recent support level. I saw on other people’s chart that they put the support level at around 169.780 but I put it at around 171.150 (the pink line below on the picture). Is it still good or something wrong with that?.
It was likely done that way with the reasoning that the support is a good place to put your stop near when going long. The rationale being that if it doesn’t hold as support, the market is not reversing and the premise for your trade has been invalidated. The pink level you illustrated is certainly a relevant S/R level, but is not a good place to put your stop. We price action traders like clean charts, so most of us just mark them up as little as possible - the blue support and resistance are the most important to the trade so that’s all most of us show.
guys always remember…the “set it and forget it” is the most golden rule you will ever learn in trading…PA and everything else come secondary to this
with saying that…let me swim in some of my new founded pips
Too small, trading right back into resistance, not a great trend
The pin is at swing high instead of swing low
Hi friends today Gold daily closing pin bar is reliable for buying? Actually me is confuse now because its did not close on previous bar inside and its also small, so please confirm me i have not set the still buy order …thanks
Silver is looking so juicy!!
See how tight the range was on the left then the massive move there after.
Now see how price is repeating itself on the right only question is which way will it pop?
Darth
Anyone else see the BEEB on the daily XAU/USD?
@netbusinessman - no.
Please go back and read about swing high, swing low and what a valid pin bar looks like, they’re all explained in this thread Also please don’t post charts with indicators.
Gold - Oh man, gold really loves to stay low huh. I noticed the EB too but it’s kinda tiny with a lot of choppiness up ahead.
Did a quick check on all daily pairs, nothing screams [I]trade me![/I] at the moment. At least for me. Time for breakfast
Oh, you might be right, but I am unable to watch every 4h bar, just 2 of them during the day max and a daily close, so plenty of opportunities missed.
Fil
Update. First TP hit. It missed my SL by 3 pips… :56:
Too close… I guess next time I should pass the trade if SL was too large for my liking.
Also looking at the BEUB the USD/CHF daily. I’m long here.
I’m in trade with with JPY pairs. I gathered all the comments on that trade.
The gap was the only reason I’m not in one of those trades
these pairs have been trending strongly of late, they didn’t seem like A+ - there’s quite a bit
of resistance above (minor and key) and given the long range of the 2bar reversal, not much room to move up ahead before you meet first resistance…
For me, the GBPJPY is cleaner in terms of area of formation (relative to candles around it) and less resistance to get to FTA (more room to move).
The Japanese are up to something with 2-bar reversal omnipresent at this point. What I don’t like is that some pairs have a clear gap
in the left that may serve as relevant resistance ahead.
I’m in position with GBP/JPY and USD/JPY. It’s an A- not A+ but I think one needs to risk a little bit not having raise the bar too high. Maybe I close profit right now.
USDCHF? Where do you see the engulfing?
Cheers
My friend there is no engulfing Bar on Daily USDCHF…
I was looking at the last two daily bars on the USD/CHF. To me it looks like a bullish turn, but I’m definitely not a pro at this. Any tips would be appreciated!
H8 or H4 at the last swing low was an engulfing, I posted the setup earlier I think. Don’t enter now, wait for a pull back to the swing low, USDCHF has done a 1-2-3 reversal pattern, which is used here as far as I know.