[QUOTE=“wm247;568033”]
There is indeed a very large Pinbar, but the close is way too low for my taste. Almost in the middle.
If the open and the close is reversed, though, that pinbar is really valid and I’ll be licking my lips like a hungry wolf right now. :D[/QUOTE]
Yes very true! It is very bearish.
[QUOTE=“wm247;568033”] There is indeed a very large Pinbar, but the close is way too low for my taste. Almost in the middle. If the open and the close is reversed, though, that pinbar is really valid and I’ll be licking my lips like a hungry wolf right now. :D[/QUOTE]haha, my phone charts are ask charts, so the spread may be distorting the candle.
Hey guys.
At work now, sorry I can’t post any charts.
But, I took the AUD/NZD short. Have plans on that one going way short.
But I wanted to mention about these pin bars. Look at the nov 13 pin bar. I call it the “fakey” pin bar. It’s opposite of the real reversal one. Price seems to either go one way or the other with those huge pin bars. And the fakey one on the 13th became valid, price went down to it. So, now another one,the 18th, and I think price will go down to that level also. It all seems bearish to me. Also, there is like no traffic on the left, since like 2009.
I would like to know what you all think about those pin bars, going one way or the other. "fakey or reversal.
Thanks.
Mike
AUDNZD - there’s a short PA set up - mother bar, inside pinbar on the 8 hour chart at the key s/r level on the daily, price did fall away from that to the short side, but it looks like there is a retrace now back to the original MB/IB PB set up…a 50% retrace would be at 1.1245, not sure that price will get back up there and i have my key s/r level marked below that at 1.1235. but I don’t see any valid PA signal on the intraday charts that would make me want to short just yet…since I missed the original 8 hour chart signal…
Agree with you, Amy. We are at the strong support zone on D1 chart, so I am looking out for the opportunity to go long here, not short.
anyone watching CADCHF? - huge false break to the downside and now price reclaimed old key support level and price seems to be holding that level with two bullish pinbars on the daily chart…looks interesting…
[QUOTE=“wm247;568075”] Agree with you, Amy. We are at the strong support zone on D1 chart, so I am looking out for the opportunity to go long here, not short.[/QUOTE]
Agreed, if the day ends strong we may have a nice engulfing bar and false break bar at a key support level. It will be one to watch.
Very wise and motivating words my friend! Very well written post!
And I know the feeling you are talking about since I am slowly but steady moving towards it myself. 
Woohoo! 600th post on baby pips… Sorry, could not resist! 
EURCAD short, intraday (demo) - would score this a 2.5
entry 50% retrace - 1.4089, sl 1.4127, tp 1.4000 - RR 2.5
PROS
nicely formed pin on the 4h chart
with near term daily trend
at key daily resistance level
after the huge bullish move - which turned out to be a false break - price appears to be ranging between 1.41 and 1.39
CONS
some noise to the left on the 4h chart
that bullish pin bar on the daily chart that extends across the range…
if this short trade comes off, wld give a decent RR and if that bullish daily pin fails, could lead to a bigger move to the downside and will be on the move already
Thanks man, appreciate the feedback. A moment of clarity and inspiration hit me and I had to share. 600 posts?! Congrats, that’s quite the milestone! :35:
I’m on my cell phone right now and can’t post any screenshots, sorry for that. But once again i’m onto the NZDCAD.
Nice pin bar forming on the NZDCAD daily (possible triple top) with strong rise in volume. But it would be a counter trend trade and only worth taking when using an retracement entry. Else the r:r would be to bad in my opinion.
I’ve personally placed an entry at 0.87385, SL at 0.87885 (50 pips) and TP at 0.86385 (108,5 pips) for an R:R of 1:2,17.
(Spread not subtracted from the pips values above.)
The same goes for the NZDUSD. Nice pin bar at a good S/R level but only an interesting trade if we can enter at an retracement. Not taking that one though since one counter trend trade is enough for me at one time.
Good night everyone, it’s late here. 
USD/ZAR has cought my attention on D1. A chance to go logn, perhaps.
There is still 1h to go. Will see how the pin forms, but it looks decent.
Pros:
-If it goes up, I don’t see a lot of noise. Clear space to move.
-The overall trend is up
Cons:
Pin could be longer
Not sure if my support is top-notch.
I’d say 3/5 ±
looking at setups on nzdusd, nzdcad too, also audnzd that we discussed earlier today - but how to pick one of them? otherwise, taking a position on all three triples up exposure on the NZD - how do you all decide which one to take? if relative strength - how do you guys go about figuring out the relative strength?
[QUOTE=“mancamy;568189”]looking at setups on nzdusd, nzdcad too, also audnzd that we discussed earlier today - but how to pick one of them? otherwise, taking a position on all three triples up exposure on the NZD - how do you all decide which one to take? if relative strength - how do you guys go about figuring out the relative strength?[/QUOTE]
It’s a tricky one but for me I’m taking the NZDUSD, for me it looks like a better risk to reward with a nice clean run. Let’s hope it works out better than the 4hr Pinbar on the NZDJPY that I took long earlier. It obliterated the Trader 5000, been trying to figure out what was wrong with the trade but it still looks ok to me. Nice pin, with trend. I put it down to Monday! I hate them.
Hi BA,
yeah, Monday’s are rough - I think if I ever start trading intraday live (as opposed daily charts) I would steer clear of Monday’s…!!
I thought those three setups all looked pretty equal in terms of pros/cons, I ended up putting very small size on all three - on a retrace 50% - still need to study Aaron’s article on50% retraces in depth though (!)…will see which ones bite.
A
Hello,
This is my first time of posting on this thread. I have been learning trading since 2009 without consistence progress until I began to learn price action trading, early this year. With the level of education contained in the thread I am sure that this is the right place for me. I am looking forward to learn as much as I can from this thread. My name is Ndubuisi from Nigeria.
[QUOTE=“goldpips;568220”]Hello, This is my first time of posting on this thread. I have been learning trading since 2009 without consistence progress until I began to learn price action trading, early this year. With the level of education contained in the thread I am sure that this is the right place for me. I am looking forward to learn as much as I can from this thread. My name is Ndubuisi from Nigeria.[/QUOTE]
Welcome to our PA community! You are going to find a phenomenal group of traders here dedicated to growing in their trading skills and helping others. I am glad you like the educational content here. I have strived to produce it at a quality that you would find in a pay for membership course. I hope this thread helps you, and I believe you will find this is the most well rounded and in depth look at price action trading compared to anything else out there. I hope to see you around a lot more and thanks for introducing yourself.
Here is the question of the century(or at least the question of today), what is the better trade, NZDUSD or NZDCAD? Perhaps they both aren’t worthy of trading?
