is it a tradable pin bar?
Is it sticking out? :33:
Best
Iām with you. Itās OK but Iām not in love with it. If only the body was a bit higher up you would have had more of the wick trading through and then āsnapping backā past that key level of 0.88490
Perfect. Thanks for the Answer.
D1
This āsignalā formed directly under a key weak breakout just under 1.4.
I normally donāt mark my charts up like this, but you need to be aware of where price is trading and not just blindly take a PinBar because it formed @ an area where you can drop a horizontal line.
[ul]
[li]Breakout structure leading into 1.385
[/li][li]Breakout occurs, but where is the follow through? Itās not there. Nearly 9 full trading sessions are evaporated in 2 days of selling. Who is in control @ this price?
[/li][li]The ascending channel (the most recent bull leg up) also fails - the lows are breached (prior resistance did not hold as new substantial support).
[/li][li]Now, we see that support which couldnāt hold for long acting as resistance (plain price action).
[/li][/ul]
H1
[ul]
[li]Chart should be self-explanatory.
[/li][li]The EUR is stuck in an intraday range.
[/li][li]There was a 100pt sell-off in 1HR, 3/19/2014. Whoās in control here?
[/li][li]Adding further confidence to sellers, buyers try to rally hard on Monday, and were stopped on a dime @ the previous lows of the breakout level (False break of range).
[/li][/ul]
This āsignalā formed directly under a key weak breakout just under 1.4. Who would be buying here?
Here are direct links to HD images of the charts (make sure to zoom in).
D1
H1
@jadd806 / @mancamy - You guys nailed it IMO. Good work avoiding getting trapped for now.
Hello Derek,
as aujla17 posted a group of brokers are NY close for the bulk of the year and then are 1hr behind for periods of the year and Fxpro is one of these. I made a more in-depth post about how this works here: 301 Moved Permanently
Basically you are better going with a broker that actually changes in-line with the daylight savings every single time and also sends you out emails before the event so that you know that come the following market open the market will open either earlier or later so you are never missing out.
Johnathon
I also thought that this PB is not really at a swing high, more of in a swing high āareaā, am I wrong in saying that?
Hello everyone,
Been reading this thread for some time now, great source of information, you guys are great help.
Iāve been searching for an answer but cannot seem to find it, but I am looking to go for the real deal now, and not use a Demo account and just wanted some form of input on peoples views on what broker I should go with.
Iām based in the UK , obviously i need NY close candles and I have been using PepperStone Demos, Are they a good live broker? or possibly FXpro? Someone has mentioned FXCM new live servers too me too.
But to be honest, I just donāt know so some/ANY help would be appreciated 
Thank you
LSTR
Here is an area I have been keeping an eye on ever since I saw a commanding break lower and price closed below on the daily chart. We had Bearish Engulfing Bars on both the daily and 4hr charts when price broke through this support level, but what was telling was how price broke the support level on the 4hr chart with the massive BEEB exploding lower.
These types of price flips are up there with my favorite types of levels to hunt trades because whilst this particular pair may or may not fire of a trade, it is this pattern that forms time and time again in the markets and over time many high probability setups form for the patient trader who is willing to wait for the quality setups to cherry pick from.
GBPUSD Daily Chart
GBPUSD 4hr Chart
Safe trading,
Johnathon
That pinbar formed at KHL taken form the weekly and daily chart. So I didnāt just take it blindly. I didnāt just drop a horizontal line blindly in the air. According to Jonathonās method , that pinbar yes it should formed at those Horizontal lines that I just happen to drop precisely at KHL. So maybe youāre doing a different PA method but youāre talking about ascending channels and OVERCOMPLICATE THINGS HERE, itās much simple than that
Unfortunately it hasnāt been firing trades yet. We just wait patiently.
Iām curious Jonathon. What do you think about this season that not a single good trade has showed up during this 2 months? Over the long period of your trading experience, Have you ever had seasons like this? Will these low seasons be offset your balance during the year? What do you say?
Heya Fjanos,
Maybe you are looking for perfect trades when what we are after is high probability. This can often be a trap that is often easily fallen into. Traders come from playing a lot of trades way over trading and then go way to the other side of looking for perfect trades that donāt have any risk at all when in fact every trade involves risk.
The market has been exactly is normal self of late with trades there to be made. Just a few of the recent examples in just the last few days that have been posted in here would be; the pin bar on the 4hr chart of the GBPCHF that moved lower, the engulfing bar on the S+P 500 that hit the recent highs and the engulfing bar on gold weekly chart that is yet to work out yet. These are just basic reversal setups in the last few days and obviously if you then play continuation and breakout setups you then have other setups to look at, but possibly you may need to look at looking for high probability and consider that all trades contain risk and you cannot get rid.
Safe trading,
Johnathon
Hi bud, Iāve started from no knowledge to āsomeā knowledge. But Iām starting to see things that I once didnāt. Like anything that requires a lot of concentration it takes time a bit like driving car, only after you finish your lessons and pass your test you start to learning how to drive properly. Hope that makes sense.
Trading is complex even with a clear chart. As your looking for Pinbars, ebs, 2brs etc and analysis the setup you generally miss other clues which would help indicate if the setup is valid. As you may have noticed you might have an A+ that fails and you would think WTF~ OR a weak setup that would of cleaned up. PA is reading the whole story and thatās where the hard part is. But donāt worry with alot of practice its possible to master this.
Just perfect the basics and go from there and also trust in yourself ( this is my weakest attribute) Iāve become fantastic at spoting them but taking them is another story. As long as you keep head up and striving for mastery which if you believe the hype takes 10,000 hours/ 10 years. A mountain right? But the way I look it is find something you love and never work again ( and i love forex and attempting make money lol).
Its long and perilous journey but like the soliders in the trenches in WW1 were in in it together.
cheers
Darth
First Thank you for the answer Jon
the pin bar on the 4hr chart of the GBPCHF
I missed that big time I wasnāt at my desk.
the engulfing bar on the S+P 500ā¦the engulfing bar on gold weekly chart
My broker has a very big spread on those i donāt trade them.
Maybe thatās why I see the whole picture as no trade at all 
Iām kinda have mixed feelings about this because long time trend is up and it has BUEB (did not close strong and not looking very comanding) on 24-03 which seems like swing low on minor S/R @1.6471. But weāll see if 1.6600 holds.
Brilliant Post!
Best
How much does your broker charge for spread on the exotics? Mine, ICM, is around 20pips, hence day or weekly trading onlyā¦
Hi Johnathon,
I understand that you donāt really talk about pips in this thread, but I am interested in understanding how many pips are made from a daily trade and a 4H trade for example, if you average out positive trades over a 1-2 years period.
I am more interested for information sake more so than anything else and also to ensure I am not too greedy on my trades, nor too skinny.
Would you have that information available?