I’m in on this. The BEEB previous was formed on a day when the RBNZ kept interest rates on hold and some thought it may go up. Signal from RBNZ is that is likely in 6wks time. The 4hr has not quite formed a BUEB which shows that the uptrend of the NZDJPY may be continuing again. Set my T/P at 85.50
So it was an invalidated setup long ago and I didn’t realize that, and I had lucky :41:. Anyway it was a nice pinbar I won’t take anymore setup like this …
Gbpjpy is now trading sideways in a channel range of about 100 pips.so one can trade the pin bar and take out of the market 50/80 pips while waiting for it to break out. That would work for an aggresive trader like me.:19:
Finally hit TP on last week’s friday’s GBP/AUD D1 CT pinbar. It struggled all the way down so much that I decided not to hold half of the position open after TP.
You know you can build pairs that your broker doesn’t offer? So if they offer you SGD and EUR against USD then you can buy one sell the other and you are legged into the EURSGD cross? In saying that i would becareful that you’re not getting killed on the spread. Best thing is to passively get filled on one pair and then hit the market on the other that way you using the spread from the first fill to pay for the spead you pay on the second.
Yes, since i made high losses before, i decided to cut loss quickly and be very patient when market reversals happen.
If i would not not make mid-trade adjustment i guess my losses would be higher at my newbie stage
But yes, i ll experience that and compare the trading strategies.
thanks.
I thought about going short und AUDUSD this morning, but cancelled the pending order as it did not look like an A+ setup to me. Here is the chart I was looking at, any comments? No spot at all?
this is not a valid pin bar…it has a lot of things wrong with it…and the following bar isnt an EB…there was no price action to tell you to short…please read the links in the first page as its the best starting point for you