I was never in that trade. The box to the left was obvious so those in the trade I’m assuming at the very least moved to BE when price hit the low of that box. That’s how I would have played it at least.
Hey thanks for taking the trouble to mark up and post those charts. That has really helped me understand better how to mark up my S&R levels.
Seems we didn’t get the PA signal. No 2BR as it closed a fair bit higher than the open of the previous bar. It’s very interesting to see how this pair is now reacting to the BRN a @ 0.8000. The strong psychological area is certainly stalling price at the moment.
This really is a great forum with members being so willing to help out.
Cheers
Stephen
Looks like a reasonable area with a second pullback after the break but I didn’t see a valid signal. I would have wanted to see a 2BR or BUEB there. I’d also wanted to have closed above the three bar lows immediately prior. Can anyone tell me, did I miss something ?
Saw this one but, despite the strong level, wasn’t convinced by the PB. Do you think it’s a bit small specially when comparing it to the larger bullish candle preceding it. Trying to learn as much as I can so would welcome comments on my observations.
Thanks
Stephen
Agree pin bar too small compared to preceding candles.
I took that one and made 60 pips. I didn’t mind the bullish candle because it was showing rejection of the same level that the pin bar was. I actually used it as extra confirmation. I also had a sell signal with a different system I am trading, so for me it was a no-brainer.
That’s a really interesting comment - thanks. Looking at it again I can see that despite the bullishness of the preceding candle initially, it did indeed reject the level and, importantly, close back down below it. I’m trying to build my competence at reading the PA story so appreciate the feedback on my thoughts.
Good on any one who took the G/N Pb. It was a clean play.
Best
took 50% the profit on the GBPNZD pin bar and now its a free trade
best set up i seen in a while
It was risky because of the consolidation box on the left. I’ve stopped out many times with trades very similar to that.
i dont trade this PB for same reasion.
I know it is friday but what about the pin bar being formed in AUDSGD at the VRN @1,16?
I think trend is up after the double floor at @1,11 and in december and january and, therefore, now the price is at swing low
A few factors prevent me from entering on this one.
- size of the pin compared to the size of candles nearby
- price hasn’t closed strong on that pin bar. There is some rejection at the top of it
- the formation of that pin surely has some influence on day traders closing their positions on a Friday
There’s always other opportunities out there - just wait for the right one.
I think you’re being too picky… I see nothing wrong with the size of the pin. It’s a false break pin, so the real volume contained in that candle is at least double the size. The upper wick is barely there, and per the rules price closed in the last 1/3 of the bar. It’s fine to play Friday candles on the Daily, the only thing you need to watch out for is the 1H and 4H charts which are going to be affected by traders closing out their positions from 1:00 PM (half-day traders getting out before going home) to 5:00 PM.
It’s good to be selective with your trades but not everything is going to be a textbook example and you will soon find yourself at the point where you are barely trading at all.
Last week short GBPAUD pinbar, i think level is nice and has a good pinbar, but still trigger stop loss, what’s worng with this setup can anyone share u opinion?
I prefer aud/cad pinbar
