AUDCAD - I’d say its bounced off good support, well spotted. Gives a good RR if tp at 99.50 level.
taken :57:
AUDCAD - I’d say its bounced off good support, well spotted. Gives a good RR if tp at 99.50 level.
taken :57:
Well price has met support at where the pin bar has formed, it is a small pin bar but if you look to the left you will see a massive pin bar and all the bars after that are actually inside bars so technically people could have been in that trade as the bottom of that pin bar hasn’t been taken out yet. But now you have a signal to go long and my bias is that price is going to visit the VBRN and magically S/R of 1.0000. Cannot wait to see some fireworks when price gets there.
Remember though trust your own analysis and not let others sway you into a trade.
Darth
as far as I know ,we trade BUEB on swing lows and BEEb on swing hight , otherwise it’s wrong.
The level is great, but c’mon guys!, that’s a tiny pin!
Yes dudest tiny pin but as darthfrancis was saying that pin is confirming the big pin on the left…i took this one cause it’s with the overall trend and bouncing off the level broken a few days ago…let’s hope it goes right even though i’m still on demo
The more I trade H4 signals the more I feel D1 only is the way to go.
Sorry ddi, but no such thing as “yes pin is tiny but <insert justification here>”…
You have to draw a line somewhere.
Today it may work out, maybe even tomorrow; then soon enough you start watching your losses mount.
Form good habits while on demo, and they’ll carry over into live ( the reverse is also true )
you just need to be more selective trading H4
I must agree with you Dudest in term of having good habits and I think is good to have someone reminding us that. I would say sometime is good to trade what you trust even though the setup is not perfect but you need a proper money management, not being over greedy and review your expectation, also you need to keep a journal of trades to know in the long term what work and what doesn’t to learn from it.
Question though, I have just to this thread posting my none A+ setups. Is it a trade where people want us to only talk about A+ trades?
The idea of demo is to learn how to trade properly,as dudest pointed out to you. Developing good habits is one and then when you are consistent, now your ready to go live. Good trading didi.
I think that one is tricky I will stay out and see… good luck to those on it! the problem of it is the pinbar is small and is not protruding. and the Big Pinbar before was almost completely reversed so It show certain indecision and rejection of price action Pinbar. However anything can be possible in forex Markets
Guys thanks for the comments. much appreciated…I tend to overtrade and experienced losses for that reason…so yes i should be more selective…this one i really thought was worth risking but i understand when dudest says i have to draw a line…i think i should trade just A+ or almost A+ but sometimes i get carried away following the forum as there are so many people posting potential trades…my fault!
Cheers
Listen to Dudest ddi It worth it.
I put a sell stop pending order on this. I know the pin bar is not placed at a perfect position and there is not enough room for price to “breath” but I’m taking it with some few pips. 30-40 pips.
trading into so much traffic will kill you in the long run, dont make it a habit mate
Why take the setup if you can see it is running into traffic? This traffic is actually a bottom forming, a W pattern, price will prob pull back to the neckline, then continue up stopping you out in the process. Although I can not be 100% sure about this, but I am pretty certain that it will not hit your expected profit target.
Wait for a buy at the neckline would be the best idea Also, you are not trading from a daily resistance level, in fact you are trading right into daily support.
USDJPY Weekly - Buy retracement entry at middle body pin bar. Not an A+ but an A setup. First target at 104 and final at 105.
Cheers,
Dave
Hi Dave we dont buy retrace entries as they make no sense and is not what Jonathon has taught us!!
I don’t understand why you are saying that they make no sense, if you predict a small retracement before prices continue it is actually better to minimised your RR. When you have a strong rejection like this one you can be certain that you have a retracement. Regarding Jonathon’s method, for sure it does not do that but doesn’t mean it is bad…
Im not saying its bad but If you look back to history there are more losers than winners. thats why we set a pending order above the pinbar so we get a breakout and momentum on our favour. maybe it will work for this trade but in the long term run will not. just my 2 cents if you take time and look back to the previous years of price action you will see this is correct. anyway it will be nice to do it cause the RR get incredible better… but it comes along with muuuch more losers trades. regards.