D1 Pin bar from HighLow?
Been watching this as well, just waiting for it to break the low and Iām in. Unless someone can point out anything Iām missing.
Same here for me. Put an entry order on this one and on GBP/NZD.
Good Thread I learned a lot
Hello everyone. Just found this forum and been reading it over the weekend. Really interesting PA information here.
GB/CAD 1 day; Any comments on the set-up? Pinbar is a bit short for my taste there. There is also a pinbar formed on the 4hrs chart but has the same problem, ie is too short.
all comments are very welcomed.
Usd/Chf weekly Pinbar,
Iām liking the look of this. Still a close lying minor support could cause trouble.
Best
Funnypip: try combine both PA together n it will form a big doji in the middle of some indecisive candlesticks. I am sure there are other pairs that look more attractive.
For NZD/USD, the PA certainly looks attractive, PB on a bounce. However I passed this trade, and if you look at it in a weekly graph you will understand why.
Correct, NZD looks very bullish across the board.
Best
thanks Kasravi and TkMpZ, youāre right. had a look at the weekly chart and got what you mean. nzd is indeed bullish
I donāt really agree. Youāre trading the trend āof the momentā and on daily itās making series of lower low and lower high. Classic 1-2-3
However, I am not taking this trade. Not because of bullish weekly but because my target is not worth the stoploss.
About the NZDUSD, I fully agree with Panupat. While the NZD is bullish on the Weekly, the PA signal discussed is on the daily and therefore (at least in my book) any action taken should be based on the daily TF. To me the R:R is not worth taking this trade either. Patiently waiting for some good PA actionā¦ (not much going on at the moment).
Hey Panupat,
I fully agree with your analysis. I was wondering about risk/reward though. Correct me if Iām wrong( Iāve been on this thread for about a month only), but I thought in this thread weāre not paying as much attention to risk/reward, and we are not looking for 1:2 or more ratios, like some other PA methods. So Iām wondering if itās just you who only takes certain risk/reward trades(which is totally fine) or Iām not understanding Johnathonās method right ?
Thanks,
Because of that Iām still waiting for this trade to trigger.
Risk reward is very important because if a trader does not understand their individual risk reward strategy, they wonāt know what they have to do to make money or stay profitable.
What we are doing is instead of looking for 2/1 risk reward, we are looking for a higher win rate and lower risk reward because obviously the more you win the less you have to make in rewards and the more you lose the more you have to make in profits to continue to cover the losses, but risk reward is important because if you donāt know this and donāt know what you have to achieve then you could may not get the right mix and this is why journals are important.
The other thing is everyone has their own plan and their own way of seeing things with their own rules and risk reward etc. Donāt worry about what others are doing because quite often they are fighting their own little battles and working through their own little problems and what I mean is that quite often another trader will be just changing their plan after noticing something in their journal that could help their trading so by copying their strategy is not going to help because you have no idea what they have been doing or trying to work on.
Safe trading,
Johnathon
I think we all have our own preference and rules regarding R:R. My own rule is to look for 1:0.6 at least. While Iām not looking for 1:2 myself, risking $100 to make $30 doesnāt sound like a very good idea.
Johnathon beat me to it 
I donāt want to get into this too much in here, but what often is overlooked or not factored in is that often traders will have multiple profit points i,e they will take 2 or more different targets and the first level is just the first closest level.
What a trader will often do is see the first level and work out their whole trade risk reward based solely on this first level, but thatās not how the trade is going to necessarily work out because the trader will know that they are not going to take 100% profit at that first level.
For example; a trader may see a trade and say I am not going to take that trade because I can only get 1: 0.5 RR, but the thing is if they are working on having two profit points, they know they are not going to take 100% profit at that first level so there is zero chance of the trade being a 1:05 RR trade.
The trades need to be thought out a little more. The other potential targets need to be factored in as well and just like we work out the win rate over time, the risk reward should also be constantly worked out overtime.
The reason for this is because there will be runs of breaks evens that are just going to happen and there may be three in a row and I see this happen all the time and I will get emails from traders who have just changed their plans because they got stopped at break even a few times in a row, but it is the same with the win/loss. We donāt know what is going to happen and we need to let the market do itās thing. There will then be a group of winners in a row and then partial profits and break even and they all need to be put into together to have the risk reward worked out. The first level by itself is not what works out the whole trades risk reward and it is no good chopping and changing plans every time the market does something we donāt like because it comes in runs.
Johnathon
Personally, I am less concerned about Risk:Reward and more concerned with where price is [B]MOST LIKELY[/B] to head next. I have my own personal limits, of course, but probability is the name of the game for me. Just my 2 cents.
-Joey