Hi learningpips
Go to the first page, posting #8 and there are some links there to how to post clean charts.
You can download the Jing screen capture app
Yes it is.
- Nose is 3 times of body
- Opend and closed within previous candle
- Nose sticks out from other candles
yes itâs ok but I didnât take it because lots of traffic and bad RR.
if there was no traffic , I would take it 100 percent , but with all traffic , bad RR and CT , I didnât take it .
Good luck
Okay so a few trades Im currently taking.
Question about S/R. As I have understood we look at Support and Resistance as zones where price might bounce, not strict lines. I am saying this because pinbar on AUDJPY is abit above my resistance and BEEB on AUDNZD is a bit under the resistance. So my logic is saying it is okay to trade those areas, am I correct?
BEEB, bigger than many previous bars.
With trend
-FTA close
-a bit traffic on the left
+nice pinbar
+with recent trend
-longer trend is ranging
+nice pinbar
+with recent trend
usd/jpy is in momentum
bull is dominant the market
who are in buy posistion can fix target at 102.65
the are has value
nice setup
everything is perfect except the area however
we will take risk to take this trade if it breaks the high of the pin bar
if the pin were formed at more low that yellow area this would be best setup
but still now the is a good chance to
take it
bingo!
Hi dude, Good effort on your analysis, a couple of things,
On your AUDNZD I think your lines are slightly off check Kasavriâs post. But I like that BEEB and now that Bearish PB
EURAUD looks good all round, S/R lines look good, good PA, With the trend.
AUDJPY the PB has formed on the wrong side of your S/R line so it seems your trading straight into support. No trade in my eyes.
Most importantly as all 3 trades are correlated via AUD, I hope you have split your risk equally. Money management is the most important thing.
Darth
this was a valid pi bar
it formed after a uptrend
the body of the pin close within the previous bar
i entered the break of the low of the pin
then why this trade dont wok?
expecting dudest or brice or jonathon or some other experience dtrader will reply it
Hi Q,
Iâm afraid you entered an intra day trade outside a major trading session and that, is an absolute no go!
We take intra days through the London and U.S. session, preferably while they are overlapping. Any other than that And you are likely to get a fake entry.
I advice everyone who hasnât read the key links on each topic of the first page to go and do so. It is a must and will safe you lotâs of money and headaches.
'Best
Thanks for the reply. Was wondering about S/R on AUDNZD
Why is the S/R line marked with purple not valid? I understand that that the âyellow resistanceâ line is more powerful (price has tested it more), but the âpurple resistanceâ line has been also tested three times (on a relatively short time period) on a daily timeframe. I was thinking that is more than enough?
This is where trading can be slightly subjective. I think both answers are right. If you had marked the purple area to take profit and managed your trade accordingly then I see nothing wrong with that.
However when trading with a strong trend you can sometimes give your trade a chance to âbreatheâ and let it run down to the more significant zones marked in red. There really is no right or wrong because either way you managed that trade you would have had a winner!
That and sometimes trades donât work out, :18: Iâm actually being serious here. You can tick all the boxes, trend, level, PA signal and still have your a trade get run over. It happens.
To my naked eye though it wasnât the most convincing of PBâs. take a look to the extreme left of the chart (somewhere around the 8th Feb) and you will see a much much more convincing PB. On that PB you would have at least got to BE and probably taken some profit off the table.
Hi Q I would actually like to see the wick of the PB break and âsnap backâ through this zone rather than just touch it.
This is a great example of a ranging market and should price hit the red zone you have marked I would definitely look at a signal to short.
