Price Action, Candlesticks, and the Story They Tell

No, not at all…we are discussing the in/out indicator which just indicates Inside Bars.Still PA trading!:slight_smile:

I wish it would indicate inside candles that got the same low/high as the previous candle as well. Is it possible to edit the indicator to do so DnB, any ideas?


What do we think of this lovely pin bar?

Are u really using EMA’s 10 and 20? Because on my chart the 10 EMA looks different, i mean, it isn’t that close to the pin bar, altho the candle still touched it.

About this setup, it may be good, but i would be careful, because of the support level just under this pin bar. I would wait till it breaks and then ride in after a retracement. I also looked other EUR charts and seems that there it’s trying to get up. There were also good news about the EU (the 19th summit was succesful), but who knows… :33:

You are probably using a different broker with a different server time hence your charts appear slight different…the daily candles close at different times plus some have 5 daily candles each week some 5 and a little one…the little one being Sunday evening.

Hope that helps.

Cheers,
Michael.


What do guys think of this large pinbar?

The actual candlestick signal is good in form,

but that market currently sucks at the moment, look at that sideways chop. The EMAs are all twisted up, I won’t be trading that market until there is some clear direction. I like the EURNZD trade that evermore posts, see the difference in market conditions.

With the EURNZD signal, it would be better to wait for a break below, because that candle had a moderate bullish close on it.

Thank you for the explanation . :smiley:

Hey apologies posted in wrong thread :frowning:

Hello all!

Can anyone explain me why those 2x inside bars didn’t work as continuation candlesticks? They both were more close than far from the mean point. Also there is kind of a retracement level at 1.2460. The overall trend is going down. So what am i thinking wrong?


Hello there!

I wouldn’t touch this setup, because:

  1. The market is going sideway.


  1. The pin bar didn’t close within previous candles low/high.


I would wait till the price breaks through the support line at 1.2750 and then short when it retraces combined with a PA candlestick (rejection candle, bearish engulfing bar etc.).

it looks like the bullish englufing bar worked out fantastically…(note its the 4th bar in your pink circle)
plus it occured at a swing low…nice…

Is a lot of this from getting out before the 3:1 r/r is achieved?

Hi all,

EJ 4hrly has good pin bar. I’ve entered long @100.80; SL @100.20; P1 @101.30; P2 @102.00
EURUSD 4hrly has good BUEB for long as well.


Regards,
Toyogo

I knew it, but i thought engulfing bar should be bigger, seems this worked as well! :wink:

Aggressive, it’s swing high there, be careful.

What means BUEB?

Mostly, the other thing was taking trades without an A+ signal. Note: I risk what many traders can consider a lot per trade.

Do you think is good to take a trade based on different timeframes? I mean I normally use weekly charts to see bigger patterns or define the main trend, also I use 4h charts and even 1H charts to spot an optimal point of entry, but always took trades based only on daily charts. A pin bar on a daily chart is not the same as a pin bar on the 5m chart, or 4h in this case.
BTW, I don’t like this trade because I don’t see any good reason for this pin bar to form.

I use 8 & 21 EMA’s, but ONLY on DAILY charts, if I look at a different timeframe (e. g. weekly, 4h, 1H) I REMOVE the EMA’s.