Hi everybody!
A perfect D1 pin-bar was formed at a long term trend line from the W1 chart. I am long on it, but it does not seem to go up for now, Any ideas on this?
hold on to your longs, you may have entered to early, we may dip down into daily demand, and its unlikely it will be taken out so SL below 146.85 at the highest
The pin-bar may be perfect, but the trendline isn’t where I’d have drawn one, myself.
That’s often the way, though, isn’t it? Trendlines are very subjective and interpretative.
I see nothing to trade there, myself, but I’d certainly rather be long than short, and I wish you good luck with it.
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Then should I move my SL below the supply area? That would leave me with a very large position open
well Ideally thats where you want your stop to be. you have to figure where your stop needs to be and then determine your lot size on the entry prior to entry and adjust according to your risk tolerance. SO if your risk limit is 1% per trade, then your stop loss if hit should result in a 1% loss on your account.
Most important is getting the stops in the right places where they are most unlikley to get hit, better is wider stops and smaller lot sizes, as opposed to larger lot sizes and tighter stops.
see attached 15M chart, it may be safe now to move up your stop loss see chart but make sure to keep it below the grey box at a minimum worst thing in the world is to have tight stop losses, you need to give the trade some room, GJ has a huge range and trading it with tight stop losses is not advisable.
Well, about size calculation, I did my maths before entering the trade, but if I take the SL to the area below, that risk would be increase. I also drew that interesting resistance level on my charts, I think it may be short term though. I guess your blue rectangle is a main demand area, and your green and red are short term resistances? I am not really sure about understanding your charts hahaha. Are you into this trade anyway?
PS: Do you have any kind of system on EURTRY? It’s a pair I am interested in, and I would like to discuss about it, or maybe you have any post on it?
Thanks a lot for your advices 
https://contattafiles.s3-us-west-1.amazonaws.com/tnt27052/XHREPt8PZbdIbuh/Pasted%20Image%3A%20Feb%2016%2C%202018%20-%204%3A55%3A21pm here is another GJ chart
I smacked eurtry today and eurmxn held some over ++swap 
there is no system, there is best trading practices. And GJ is a beast. I had some longs, but I prefer ST SD with LT SD in mind always, and I prefer to be in the market. And it never hurts to take a profit. and you can always get back in.
And you need to make some trades today we need to eat tonight LOL :Þ
EURTRY OBVIOUS WAY in advance. no?
As to the pinbar, thing about pinbars is that there are 2 types, what type it is determined by how it forms, but most pinbars are continuation pins not reversals, and this is where big $ is taking lots of profits, which causes a pullback. then they re-enter and price continues on in the SAME direction.
the real range to consider
That range is a too long timeframe for me, I check weekly at highest level. That EURTRY trade was a great one, such a pity to miss it.
About what you said on pin-bars, I know that most of them form as a retracements in continuation patterns. Maybe that’s more probable, but I think that a pin-bar at a nice level, together with some kind of divergence in D1 timeframe can yield a great reversal with at least a 1:3 risk/reward ratio. That’s all about preferences anyway.
This not a bad looking pin bar and it does reject from the 200EMA.
However, a pin bar only really confirms the following day and this was positive and did break the pin bar’s high intra-day but its still a weak performance. On top of that the 50EMA is now below the 20 and is sloping downwards, and the swing low potentially formed by the pin bar’s low is below recent previous swing lows.
Nevertheless, the opportunity was there to take this pattern and set a buy order just above the pin-bar’s high.
Note that entering or setting an entry order on the close of the pin bar itself or entering manually at the closing price of the pin bar are aggressive tactics and will have a lower win rate. I think you acknowledge that’s an uncomfortable place to be in now. Waiting for confirmation sacrifices some pips from total, but gains a better win rate: given that this pair has been in a jerky uptrend since late 2016 and is miles away from all-time highs you might think the sacrifice of one day’s-worth of pips in order to get a more secure entry is worth it.
I added some to my position, and whereas I am maybe taking a little bit risk than expected, I have switched my SL idea to a longer term approach, considering that estimated value for Q2 is 155 on this pair. I expect to increase my equity a 20% by that time, and I am risking a 5%. I will update this week, as today markets where mostly sleeping
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here is another favorite EURMXN, hope you caught it. https://contattafiles.s3-us-west-1.amazonaws.com/tnt27056/b-HGbBAtA7Okt6n/Pasted%20Image%3A%20Feb%2020%2C%202018%20-%204%3A06%3A43am
and for sure hold onto the GJ longs
I cannot trade EURMXN 
GBPJPY was finally okay, first TP achieved and SL is now breakeven, so at least there will be no losses
HOLD on to those GJ longs at least until after tomorrow! its going to get another leg up higher ahead of tomorrows close.
forget that thinking! never set SL to B/E its going way higher tomorrow and into the weekend, look at it!
think long term, ++SWAP, small position sizes, multiple trades, wide spaces between orders, scale in, fade the top, sell and hold I have larger accounts so I dont need such wide spaces or small lot sizes, but you gotta play the reversales like you did on GJ, except you should have loaded up long big and fat at the bottom of the pin bar,. it was a reversal pin, often if you look at the 15M on GJ you can see the slowing momentum on the way down and the reversals are easy to catch.
Do you trade demo or real account? Because that’s a huge volume on EURMXN hahahaha
I will let it run until the weekend, then TP and enjoy!
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