I know that this was no pinbar, but I guess I had a wrong definition of EB in my mind. Additionally, the level looked quite nice for a bounce at the resistance. Anyway, my feelings were correct that this was no A spot (or no trade at all!)
Thanks for your quick answer.
Good call staying out Saimon. While this one does work out, getting into habits of taking sub-par set up will cost you in the long run. That bar has long wicks on both sides, indicating an indecision. It could have gone either way.
Hi Guys,
I am fairly new to price action and have started demo trading earlier this month.
Attached below is GBP/JPY on the daily chart. Could anybody tell me what I did wrong? Was it not a valid pin bar?
Zoomed in a bit:
Thanks!
Hi Arion.
itâs neither sticking out nor at the lowest swing point. See the candle I pointed with green arrow? Ideally youâll want a pin like the blue one I drew. At the low, very obvious, sticking out.
For demonstration. We enter a pin bar by setting pending order above it, with 10-15 pips gap for spread and buffer. And the stoploss would be below the pin with some buffer as well. If the price hits our stoploss, we cancel our pending order.
oh, I see. Thank you for your feedback Panupat!
Thanks. THis is interesting stuff. I trade PA already but have learnt some stuff here
Justice: I kinda like it
I didnât take it because of the the big previous BEEB and I think it was a signal. I also followed my instinct. Whatâs more is the pin bar is kinda like bearish because of the previous candle. Now itâs going down breaking support.
Today EUR/JPY hit my TP @138.58 bringing me 191 pips profit. Seems like price continues to go lower but we canât be too greedy, can we? 
Safe trading for you all!
Took a loss on this one. I forgot to tell BOJ what my plan was. lol
Oh well, learn and move on.
fjanos, its true there was a Pinbar, but it had a few thing that made it invalid, first: its not protruding from a High or Low swing point second: price never broke it higher, so there was no momentum reversal confirmation (some people dont wait for break of high of the pinbar and thats why they have so many losing trades)
hope it helps Good luck buddy!
Weekend is on, but not many potential trades for next week. On my charts my newbie eyes only see this one:
The range looks pretty solid and straight forward, however the 2 previous D1 bars before this potential BEEB look like thereâs been indecision.
What do you guys think? :33:
-PinTonic
There might not be any set up now for next week, but the week-nd is long and anything can happen over that time. Go ahead and enjoy the time off, these way you will come back ready kick a**.:5::5:
I think Iâll do exactly that! Have a nice weekend tonyro44! :5:
Itâs a pin bar but as far as Iâm concerned, not big enough, doesnât stick out and not at a real swing low anymore. Just how I see it
Evening star set up on CAD CHF looking at a great risk reward on 4hr chart. Also we have another evening star set up on AUD JPY in a harmonic pattern and has
a close of a daily bearish engulfing candle on the consolidation area that it has been in the past few days. Both look good and if you want to see more of my chart analysis let me know ill put more up when I have time.
Hello Ace,
Iâm assuming youâre new to this thread? if thatâs the case youâre welcome. One of the rules we religiously follow is that we should post clean charts i.e No indicators, the only thing you should include are your support and resistance levels. We also donât use the evening star as an entry setup, the setups we play are the pin bar, 2 bar reversal and the engulfing bars, this isnât to say you shouldnât use other entry setups in your own trading because we all know there are many ways to skin a cat but only limit the trades you post in here to the entry setups Iâve mentioned above. Please read at least the first 50 pages of this thread, it will help you raise your game to a new level on top of what you already know
Good luck!
With that DEEP D level I am guessing this is a butterfly or crab pattern. I am afraid we are not into forecasting here, just price action based on happening now time frame. Your chart reminds me of the old days when I had a stochastic on top of your chart hence I have been reading this PA stuff and following it religiously and never looked back!
not to mention that PA actually tells you everything if you know how to read it
it tells you when something is oversold or overboughtâŚit tells you if your in a trend or about to reverse âŚetc
