You are at your best when you trade in your comfort zone!
So closing out a trade that makes you uncomfortable is a must on top of that 4 pips is pretty much BE.
That said there have been 2 inside bars on the USD/chf which means that price is going to explode very soon,
both on fibre and the dollar frank.
Cheers
[QUOTE=“Kasravi;561989”]
You are at your best when you trade in your comfort zone!
So closing out a trade that makes you uncomfortable is a must on top of that 4 pips is pretty much BE.
That said there have been 2 inside bars on the USD/chf which means that price is going to explode very soon,
both on fibre and the dollar frank.
Cheers[/QUOTE]
Thanks again Kasravi
Looks like i jumped at the right time too, that move would have destroyed my stop loss. Wish I’d had the foresight on my CADCHF short which just got exterminated.
I was long in the EUR/USD and then BOOM! Price dropped like crazy in a minute, my SL was not executed and I lost 3x what I was risking because my SL did not get executed in time. What the heck happened?
[QUOTE=“jpw0100;562015”]I was long in the EUR/USD and then BOOM! Price dropped like crazy in a minute, my SL was not executed and I lost 3x what I was risking because my SL did not get executed in time. What the heck happened?[/QUOTE]
That sounds pretty nasty, JPW. You should always have a stop loss in place, I always include one when I place my order. The big movement was to do with positive news coming from the US, I set a sell stop at 1.30pm just below the 15 min bar and managed to bag an extra 40 pips. Some threads on here teach that news should be ignored which I think is very dangerous sometimes.
I have the stomach flu right now so I won’t be around much for a day or two. I’m long on the USDJPY right now, I am curious if anyone else is long on that pair.
That sounds nasty. Get well soon, brother.
Without Krugman, I feel we’re kinda lost sometimes. 
15 min bar sounds like a very aggressive trade, BA. Even Krugman will only go as low as 30 min tf. Are you sure that fits your trade plan?
Hey Aaron, yes I’m long USDJPY as well, since hitting the bottom of the pennant formation.
Get well soon man, take care.
The first movement of the market was when the ECB lowered their interest rate by 0.25%,
then the news from the States.
It is very dangerous ALL of the time, I would like to see those guys who advocate ignoring the news to post their trades well BEFORE the news. It always amuses me, a lot, when I see trades posted with big winners AFTER news using (lol) pure PA.
That was great entry.
Triangle break out being rejected right now.
Krugman get well soon. I hate stomach flu.
(actually none of the flu’s I’m really found off) 
[QUOTE=“wm247;562063”]
15 min bar sounds like a very aggressive trade, BA. Even Krugman will only go as low as 30 min tf. Are you sure that fits your trade plan?[/QUOTE]
Hey WM27
Yes it fits one of my other trading plans that wouldn’t meet the requirements here. But I do sometimes trade news explosions with extremely tight stop losses, usually 15 pips. The reason I used the 15 min chart today was that I could see price had dropped rapidly with the ECB announcement and had temporarily consolidated waiting for the figures from the US that created a nice box. I decided I would go with momentum, and set my order just below the current candle. Obviously this can back fire which is why it is important to have a tight stop loss which also allows slight movement before the explosion. When it works, it works great! But this isn’t for everyone, and I only do it when an opportunity presents itself.
[QUOTE=“daydreamer65;562071”]
The first movement of the market was when the ECB lowered their interest rate by 0.25%,
then the news from the States.
[/QUOTE]
I agree, traders should at least be aware of the possibility of some news around the corner that could spin there trade totally in the opposite direction, at least then they can manage and protect their trade adequately. I admit I ignore minor news, but I do pay attention to the stuff marked in red and orange if you know what I mean! I know Aaron also takes the news threats into account as he very kindly posts the news schedule at the beginning of each week.
[QUOTE=“Mr B A Barracus;562020”] That sounds pretty nasty, JPW. You should always have a stop loss in place, I always include one when I place my order. The big movement was to do with positive news coming from the US, I set a sell stop at 1.30pm just below the 15 min bar and managed to bag an extra 40 pips. Some threads on here teach that news should be ignored which I think is very dangerous sometimes.[/QUOTE]
From my previous statement, i had a SL in place. As stated above, it did not get executed. It finally got executed at 3x what my SL was. I guess it was because price dropped so rapidly? I did not know this was possible.
So what to do from here? Get out of all trades prior to a news event for that currency? I almost dont even see any other choice after something like this happens.
Hi Veleje,
I’m quite happy with the entry price 
Yeah it’s rejecting the trendline very strongly right now, but I can’t be bothered with it. From my analysis the USD/JPY has to break out of this pennant and I’m hoping for this to me the move.
If it stops me out, meh, I move on. But I like the probability and the risk:reward is 1:18!!!
Let’s see how it plays out.
Cheers!
sorry to hear that Aaron - hope you get better soon…
was also long on USDJPY but closed out for 2R today just before price reversed - looks like pin bar forming on the daily showing rejection of the upper range of the pennant. but was a volatile news day…so may still be a breakout to the long side yet…I am monitoring PA on the daily
A good looking 2-bar reversal has formed on the GBP/USD 4H chart and is also rejecting a strong support zone. I am setting a buy stop at 1.6093. You can see where I am setting my take profit levels and stop loss below.
GBP/USD 4H Chart - 2 Bar Reversal
You Can See The Support Zone on This Chart Below
[QUOTE=“mancamy;562115”] sorry to hear that Aaron - hope you get better soon… was also long on USDJPY but closed out for 2R today just before price reversed - looks like pin bar forming on the daily showing rejection of the upper range of the pennant. but was a volatile news day…so may still be a breakout to the long side yet…I am monitoring PA on the daily[/QUOTE]
Good job taking profit off the table. I had moved to break even when it shot up, and was even thinking about closing out the whole position for a 2R. It turned our being a scratch, no harm no foul.
I am long on USDJPY since 97.68 however my TP was/is too greedy (100) so I missed today peak and I am back now with just a few pips green, looking at the chart I even went red today
Maybe it is time to close it green because of the HUGE BEEB forming on D1
Looks like we are getting a ton of really nice big pin bars on several EUR/USD/CAD pairs on the daily chart. Just need to give them all a rating and take the best setups on pairs that are not correlated. 
Do you still consider these pinbar tradable even when they are the results of news ?
