Very good trade! Too bad I thought it was another trade I had open that I didn’t close, so I closed this one by accident -_- Oh well, profit=profit.
I did take a tp, tp2 stopped out at BE .
you’ve to plan what exactly what you want to do before you enter a trade ,
It means , when you enter a trade , you now where exactly you want to tp , when you want to move to be , where is you tp1 and etc
safe trading
Hi all,
I’m looking at this pair which could provide us with a nice big D1 pin bar (I’ll wait for midnight obviously)
The level looks really solid. This setup is countertrend if we are looking at the immediate preceding trend which is strongly up. However, the pair has been ranging for ages and could well bounce back down in my opinion.
Any opinions would be much appreciated.
Cheers guys
Good trading
EDIT: Wrong Thread…
IN DEPTH ANALYSIS
NZD/JPY DAILY BEEB
This pair experienced very strong momentums today. Tossing price back and forward and finally closing below support line @ 87.00. Creating a mssive Beeb and engulfing price action of the whole week!
This shows that there is a strong momentum behind that candle and now with such a strong closing as of today. This Beeb could spark a strong trend reversal on Nzd/Jpy.
Market structure on this pair was a ‘stop and stare game’ lately. As it was consolidating in late Feb. and through early Mar. it broke upwards with a strong candle. Only to consolidate again. Now with a massive Beeb presenting itself and embracing 4 candles. A reversal is a high possibility.
That said Counter Trend trades always bare an extra amount of risk and traders who have CT trading in their plan will have a better anticipation towards reversal trading.
If low of the Beeb is to break next support would come @ 85.70. Giving room enough to move and making this position easily managable.
Looking forward for peers input.
'Best
Yes you need price to break above or below the trigger signal, but you do not need price to “close” above or below the trigger signal, they just need to trade past the high or low.
Johnathon
Howdy Johnathon,
What are your thoughts on all the 2BRs on the euro pairs and close lying ftas?
(aud/chf daily 2br,eur/gbp daily 2br and eur/usd daily 2br)
'Best
Heya Kas,
sorry off to sons sports day as of 20 minutes ago!! Will back back in tonight and will take off from page 1770 where left off.
Johnathon
No rush.
Good luck!
'Best
Hi all,
nice call, J.
Cheers
fok
[B]
GBPUSD monthly chart[/B]
It’s simply counter trend. As for the counter trend statistics lately I got my SL hit so many times despite that it gave me many good signals. I wouldn’t trust this trade. I bet it wouldn’t turn out well.
thanks for sharing
a question , this is my nzd/jpy chart , i’ve a about 45 pip wick , isn’t this important ? I think 45 pip is very much and it tells us that bulls reject this level too .
the long wick is risky signal, but if the price come back and go through the low of BEEB candle, it is still valid setup, so we just need to wait until it break the lower. just set pending order under lower previous bar then let price does its job.
Hi ABC,
I understand your concern. When you look at the lower wick of a beeb, you want to see an imbalance with the upper wick d body. In other words you’d gauge the lower wick through comparing it to the overall of the Beeb.
However, you are right a too long wick is the indication of a rejection. In the N/J case it is in an acceptable portion.
Price Action story is King and we follow where price goes.
Remember peeps it’s Friday again, and follow-ups can be real slow.
'Best
guys what do u think ?
is this pin bar still valid?
this is not trendy market rather this is a ranging market
but the pin formed after retracement
and fulfill all criteria
Hi Q,
Looks like you’re looking for a bargain there. So far price did not manage to break the low and move higher could be still possible,by since ft as Been hit there is not much sense to it.
’
you are right i am bargaining . when market dont give us
trading opportunity then we need to fight with it and demand our right.
and as this is a valid pin bar with long wick so
we will fight with full strength to establish it
i am preparing my war tank
fight trade!
Ambitious!
What does your tank shoot? Money? You’ll need it to fight a trade and move the market.
'Best