Haven’t but the pinbar looks legit. The only issue could be the support, is kind of no man’s land @16.40 area. But eventually it will all boil down to wether nok will appreciate or not in the following days/week
Not saying it won’t work out because it does look large but for me it is in no-man’s land as well. If that signal had occurred at the very bottom or top of that large range i would definitely consider it.
I have my support at around the 16 mark too, but interestingly this set up is mentioned on Foxy’s FSO, so maybe we have our s/r line in the wrong spots, or is it that big that it is worthwhile trading?
I took it, although I had the same concern you both pointed out. That support doesn’t look solid.
AUD/NZD 8H PB
I don’t know about you guys but that pin is looking juicy to me. The fact that price didn’t smash through 1.0700 tells me that there is hopes for a bounce.
Let’s see what happens.
Best
Filler…
Hi, can you explain further what you meant when you say “price didn’t smash through 1.0700?” Does it mean a daily candle did not close below 1.0700?
TIA
itching to get back to uptrend of GBP/JPY, does this look like a good reentry? pin bar on the 8 hour time frame formed, unfortunately not an A+ pin bar, closed bearish and not that big, its within the trend though and body bounced on a whole number 174 and very near resistance formed by former high of the trend.
Ultimately this is the slightly subjective part. You and I may have similar levels and others may be different. As long as we know how to execute when price reaches our pre-determined levels and manage our trades correctly we will profit.
The BEEB is there and the trend looks bearish. But there is no s/r where you drew the line, more like a middle line between a high and a low. This time my feeling is that is going to work mostly because there has been a double top recently on the 4hrs @1.7145. But again, this is no A+ set-up and that could be dangerous to do the same in the future.
matko24, use daily charts to look for s/r lines and 4hrs for candle patterns. 1 hr is tricky and not-reliable. Your support there is @94.70 area so you don’t really have that much space left underneath, more like 50pips and then you’ll run into the real support.
