just waiting for its close to confirm the PA signal, NY market still not open, everything can happen.
Hi Jonathon ,
In a [B]Downtrend[/B] , If I get a [B]Bullish Engulfing candle[/B] at [B]Swing Low[/B] …will you take this trade as long trade ?
I am asking whether you do counter trend trading. Does it work or you pass it on ?
sunk by Carneys inflation comments.
My thoughts are:
- Always need to wait for candle to close.
- Mine support is @1.6728 so I’m still waiting it to drop and then will look for a signal.
It’s from last week but I wanted to ask if it’s an A+ setup…
Pin Bar on GBP/USD weekly chart at the major resistance.
Just a close look at the pin bar
I am in this trade
anyone seeing pin bar potential on daily chart of AUDJPY ?
I see a pin bar potentially formed on swing high on 95.130 area.
well, it’s not exactly sticking out the high, but still about 1000 pips down to the closest support, isn’t it? the resistance also already tried to breached 3 times. is it good to take the trade (waiting the pin bar closing tonight, of course)
Hi pipranha,
The pros of this pinbar:
-
Open and close prices are within the previous candle
-
It is big and obvious PB
-
Body close price within the lower (it is a short setup) 1/3 area of a candle
-
Upper wick of a candle is long & protrudes through the resistance, showing us there is clear FB.
-
Almost no lower wick
BUT…
IT IS A COUNTER TREND SETUP , so it could not be a “A +” setup.
As for me, this is the only thing that prevents this setup to be “A +” one .
Chill Trading :44:
Hi all,
Would this BEEB with trend at key horizontal area be considered at swing high, making it an A+ set up?
How do you rate this set up guys ?? BUEB on the EUR-GBP daily chart on previous support. If you consider this a A+ setup How would you trade it ??. Thank you in advanced.
Hi
Its a nice BUEB but at the wrong side for me, you Also have a level right above the Bueb.
With the trend is better. Wait for some bearish PA.
A+ setup is always with the trend.
By the way , why do you use lagging inducators?
/Daniel
Third attempt at looking for A+ setup. EUR/GBP 4hr. BEEB at previous resistance (Feb 17 and Jan 22) big candle, about to close near the last 3rd and in line with recent trend. Go for it or have I missed something?
Hi
How did you mark your S/R levels? Your levels are not obvious and clear as they should be.
How to mark S/R levels is well explained on the first page (# S/R concepts and how to mark S/Rs on charts).
BTW Johnathon wrote today about EURGBP, take a look EURGBP Fires Off Bullish Engulfing Bar Into Kill Zone | 15th May 2014
Pixpol
Looks good to me - I have my support and resistance levels marked right on that BEEB
Hi Everybody,
Pay attention on this pair! (wait for NY close)
Not an A + setup but could be a good one;)
Chill Trading :44:
I was just looking at that one too, but the bar is not yet closed. I guess we must wait and see!
Thank you for your response !!
Those MA’s are used in trades based on a trend following system. Nothing to do with price action.
Hi pixpol thanks for the link
Now that I see the chart again, your are right. My resistance line is no very clear, it should be around the most recent resistance area shown in the link where Jonnaton explain its take on this setup.
Cheers!
Holy balls is Christmas everywhere.
Can this christmas be trusted?
I think there are PA signals forming everywhere (Eur/USD, Eur/Chf, Eur/Aud, Eur/Cad, USD/CHF, Aud/chf)
But…
- its friday tomorrow
- market has been crazy last week. (At least in my book I had a lot of false signals)
If anything, It looks like consolidation-friday. A return to a bit more normal levels.
On the other hand… maybe the crazyness continues… and since its friday… its double crazy