Forex Price Action

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17709

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Valid Setup to go long?

17710

No, certainly not! First of all, by going long you’d be trading against the trend.

Second, that’s a mediocre BUEB (it’s mostly wick) and it just looks weak when you compare it with some of the recent candles on that chart.

17711

Hey Dudest, thanks again for throwing light on USD/CAD pair. I have tried to understand swing lows and swing highs but seems I am still missing something. Can you please share why it is not a swing high?

Cheers mate.
Farhan

17712

[ATTACH=CONFIG]58125[/A

This is an inside bar go long from nose of the MB
Regards.

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17713

Nice spot Eugene

I’m already in the pinbar trade. The BUEB gives me extra confidence that there’s a good chance price wants to go up.

Cheers

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17714

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Hi Farhan

I think Dudest meant that the body of the pin has not closed close enough to the swing high level, which I think you have marked correctly, (see my chart below) to make it a valid trade.

The tail of the pin certainly passed through that swing high, but that alone is not enough to trade on. Ideally the tail needs to be standing way past the swing high with a nice small candle body having closed real close to the swing high level.

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Hope this helps
Kiwiman:)

17715

That’s a realizable goal :slight_smile: go for it!

Aim to [B]trade well[/B], not to get ahead, and the profits will take care of themselves.

Cheers!

17716

Hey Farhan,

What Kiwiman said :slight_smile:

Your marked area is swing high, but the pinbar was formed below that, so was not at swing high itself.

Had it been formed higher ( with body nearer the resistance area and tail sticking out away from said area, it would have been perfect! )

Cheers

17717

Hi sirkay!, welcome to the thread.

Thread rule: no indis on charts please.

Also we don’t trade IBs

Cheers

17718

Any idea on the CADCHF 1D? Price seems to be at swing low and some nice pinbar and BUEB.

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17719

Hi hanzo, welcome, IF you are talking about the lastest 2 bars at the latest swing low, that pin bars isn’t a pin bar and that engulfing bar doesn’t engulf the previous bar.

If you need pointers don’t hesitate to ask.

Darth

17720

Hi Francis,

Could it be a 2BR?

Cheers

17721

you tell me Superior Master Contributor, he he :stuck_out_tongue:

Imho could be but would rather the a 2br to bounce off the same level.

Francis

17722

Hard. Really hard. :57:

17723

LOL, ‘Senior member’!

17724

Junior member says it is a terrible 2BR! Part of the track missing.

If that “signal” was much larger than worth a thought but the trend is so bearish I would rather look for something with a better chance instead of fighting a strong trend and close overhead levels.

17725

I’d rather call it ‘nothing candle’

17726

Hey Kiwiman,

Thanks a bunch mate :slight_smile:

Cheers,
Farhan

17727

Hey Dudest,

Thanks a lot, that makes sense now :).

Cheers,
Farhan

17728

Hey Papagoy,

I personally chose the GBPCAD over the AUDCAD just coz of how the immediate bars before the pins looked.

Looked to me like the GBPCAD had less minor levels to work through.

But both were (are) A+ opps in my opinion

Cheers