Heya,
have a look at Machal’s chart above. If you have the same you do have NY close charts and all is good.
Night all,
JOhnathon
Hi, Machal Thnx very much thank u That’s exactly what am talking about. So Johnathon U mean the pin bar must taste the resistance? **** me. I am a slow learner why didn’t I get it once? Gashh. Ok Thnx for the additional info.
Don’t rush things. It all takes time…
Do what I recommended when you get time and this will help you to learn what I am talking about.
Johnathon
thanks, will try again!
great thread, great information on PA!
David
Hummmm! Machal and Johnathon thanks very much. But if I and Machal’s chart should look alike (i.e New York Close chart which you recommend) how comes then that you did not see what I and Machal saw? Just curious
good
tapic
Just a quick Hi! and special thanks to Johnathon!
I found this thread today (on my fav website … babypips) after about three years of self education I always found I intuitively went back to monitoring price action without any method, and so never got around to actual trading (as much as I want and need to!). I have been demoing different strategies, applying different indicators, but none of them really did it for me.
Today I find this thread and the forex school online website and absolutely love it. Will carry on reading for the rest of the week and start demoing using what I was always comfortable with… I guess I will be back with lots of silly questions but for now I’m going back to page 22 of this thread 
I just want to say it is so encouraging to see the kindness and generosity of 1.Johnathon and 2.other contributors …
It is hard doing this alone and without interacting, but to find a group which shares their success with others and aligns with what I was steering towards is the ultimate!!!
wish you all lots of winning pips…
Thanks Johnathon now I can post a screen shot here is the screen short of my trade I told you about. The red line is where my support is the blue line is my entry point (its a late entry) while the red line is my resistance area where I make as my profit target
Machal and Johnathon don’t you think this is a very strong support looking at the second pin bar. what do u think? for now it seems to be heading towards my entry point then my target. what’s your view over this?
GBP.USD bullish pinbar in 2 hours chart…it was a nice entry yesterday a reward of my study of price action.
Hi Arriffx,
As per the chart this is not Pinbar , This is more or less BUEB. And before the candle (which is circled above) is also BUEB. Now whether it meets the tick points to buy or sell , We need to check the S&R. I cannot see the NY close on my computer for couople of hours till I get to my laptop. But just my 25 cents in regards to the shape of the candle.
Cheers
HA
Thanks Jonathan for starting a very detailed thread
I’ve been reading for days and also printing alot of your posts off and re-reading them. I’m only up to page 60 so excuse me if I am asking questions which make you repeat yourself.
Do you find trading at the pull back from a break off support/resistance more profitable than trading off the first movemnet to the S&r?
What are your thoughts and opinions on managing money which allows as minimum risk as possible when trading Pin Bars/BEEB/BUEB?
Is the 4hr as reliable than the daily’s or do you mainly stick with dailys and upwards?
Hi nctrades!
Which setup, exactly? (point it out on your chart / call it by its name)
Agreed with hemantarora.
You didn’t indicate exactly where you entered but (working with your chart and assuming you bought after the ‘pinbar’), you bought at a dangerous place, since you bought high (instead of buying low, as per this method; incase this doesn’t make sense just holla back and it’ll be explained). I think you have the support rejection to thank for the success of your trade, but in the long run, such entries could end up costing you badly.
Using candle counts (i.e the candle you indicated is the 18th 2-hour candle this week), the 18th 2-hour candle in the New-York close chart is the one below. It is physically a BUEB (bullish engulfing bar) but not the kind we look to trade since it didn’t close within the last 1/3rd of the bar (in the buy direction) [ At best, one may argue it is a 2-bar reversal, but that long upper wick doesn’t add to the integrity of the setup ]. Essentially what would be helping someone here if they took the trade would be the rejection of the support level, but not because price decisively showed that it wanted to go up. We want to stack the odds in our favour before committing money to a trade (thereby increasing its chances of success)
All the best!
I’m not Johnathon but…
We like to play pullbacks, they represent both value for money and usually with price puling back and then rejecting a previous S&R zone you have confirmation that you are on the ‘right side’ of the trade.
Simply playing breakouts can be profitable but risky. As you’ve probably gathered even by page 60 of this thread we trade reasonably conservatively and try to wait for the A+ trades to pick off so that we remain consistently profitable.
The Daily is more reliable than the 4 hour and the Weekly is more reliable than the Daily. Basically the higher the time frame the more reliable the PA.
Oh and welcome to the thread!
Hi Guys,
Just reading the material and find it very interesting. I’ve always liked the support/resistance method so this will hopefully be a great addition to my trading tools.
I have attached what I think would be a trade based upon your rules. (Although this is only a 15m timeframe I believe it works the same).
PA shot into a S/R zone followed by a Engulfing candle, with TP set at the next S/R zone. The EUR/GBP daily time frame indicates that this pair is on a down trend, so this trade is inline with the longer TF.
This trade ended up failing.
Why has no1 posted about the engulfing bars on the GU, UJ and GJ?
I personally wasn’t around but the GJ was nice.
Johnathon
Hello,
it does. Please read the group of messages again. Th confusion was over calling the small nothing bar a Pin Bar.
Johnathon