yeh its looking very interesting right now isn’t it, i know there not traded on this particular thread but if it double bottomed from around 1.055 i would definitely start looking for longs, i think if it does reverse we are going to get a nice strong rise in price
Hi all,
I am just starting posting on the trade (which I thing is great) and I will be posting the trades I will be taking with some explanations of why. There are not all A+ trades but I believe have great odds in our side. Also, I will be posting the result of all the trades I took.
So let’s start with the AUDCHF Daily - Nice pin bar reversal formed at S/R level and within the short term trend. sell stop order 5 pips below pin bar, not a+ trade as the open and close of the pin bar is not within the previous candle. I have put a sell stop order 5 pips below it but did not get triggered by less than a pip on Friday. SL 5 pips above the wick of the pin bar, first target at 0.7962 to break even and the final target is at 0.787.
Next up is the GBPCAD Daily - Pin bar formed at resistance level and within the trend. Buy stop order 5 pips above pin bar. Not a a+ as the open and close of the pin bar is not within the previous candle but previous pin bar formed confirm the swing back. First target at 1.825 and final one at 1.855
Next one the CADJPY H4 - Nice pin bar formed at resistance within the trend. Sell stop order 5 pips below pin bar. Not looking to target too far as it seems the trend is in reversal (higher highs higher lows forming). SL is 5 pips above the S/R level as pin bar top is quite far. First target at 92.27 and final one at 91.73
Next EURGBP H4 - 2 obvious pin bar at S/R level and within the short term trend. Buy stop order at 5 pips above the last candle. First target at 0.8328 and 0.835
Next EURCAD Daily - Pin bar formed after an engulfing bar at support level and within the trend. Buy stop order 5 pips above the pin bar. First target at 1.515 and last at 1.525
Next USDCAD Daily - Obvious pin bar at a strong support and within the trend direction. Buy stop order 5 pips above the candle. First target at 1.117 and the final one at 1.125
That’s all for now which I think it’s quite a lot of setup for a week though. Let’s see how it’ll turns out.
Cheers,
Dave
@Dave. When placing orders on correlate pairs I personally think it’s a better idea to trade only 1 pair with better PA, so you’re not doubling your risk.
For example. GBPCAD and EURGBP. Both have GBP and they have tendency to move together (opposite direction in this case). If 1 doesn’t go your direction, there’s very high chance the other one won’t as well. Same goes with GBPCAD and CADJPY.
Another way, if you think PA looks equally good, is to only place 1/2 the risk on both pairs.
I don’t agree with EURGBP, I would be waiting for it to drop to the neckline of the double bottom, then look for buy signals, same with CJ, no point selling 40 pips for an 80 pip stop, buy it at the neckline, as for EURAUD, I think the setup is valid, I took a trade on H4, though there is resistance ahead quite close, so I will be taking profit at the marked levels.
Seems like you want to trade, so you are picking any old setup you spot… Maybe be a bit more picky 
I do agree with you on correlate pairs like the GBPCAD - EURGBP however pairs like GBPCAD - CADJPY for the last year have been independently random. I am placing stop order, they might never get triggered…
Hey Dave,
I’m glad it’s going your way and good job on the trade management.
Just to point out that we don’t take retrace entries on pinbars (…ever)
Hope it keeps going down for you!
Cheers
As I said the trades are not A+ setups but have a very good change to be on my side. I doubt the EURGBP will drop below further as it is in an up-trend and won’t create lower lows. As for the CADJPY the risk ration is 1.5 (60pips SL for 90 SP) I do believe it worth the shot.
I am quite aggressive on the trades and ride small swings for steady incomes, I am not looking for high long swing though I know I should be picker but it has work pretty well so far.
Thanks Dudest, I might have been quite aggressive on that one 
but I appreciate the feedback thanks for that.
Hi Dave,
How do you plan on managing the AUDCHF at 0.8000 BRN?
Cheers
@USDCAD: the pin did not open and close within the previous candle, thus by this method, it’s invalid
Cheers
EURAUD daily trade hit first TP
move SL to BE
sometimes trading feel so easy
It has been broken 4 times without a glitch (a bit the first time) and as it is in a down-trend I assume it will and currently it is below at 0.799 my next partial target profit is at 0.7962 above previous small S/R level
I know, as I said they are not A+ setups… But to me it is valid as at strong support level and in up-trend. Still not hit my buy order though…
Same here, feels good when that happen 
I placed an order on the GBPCAD pin bar(s) but I’ve actually cancelled it now after noticing the pin-bar reversal on the weekly chart. I can easily see this pair reversing downwards even with the resistance at 1.805
we only trade in one time frame, and the weekly pin bar most likely played out already
furthermore, the pin bar is actually tiny
Hi guys what do u think about AUD CAD H4 pin bar…I know the pin is not inside the previous candle so for sure not A+ but looks decent to me… any thoughts?