DislikedCould someone give me their opinion on weekly pinbars on USD/JPY and EUR/JPY.Much appreciated.Ignored
Good looking pin. Not the best placement, but tradable to some.
Placement in sideways action/consolidation. If you took it you'd risk a smaller amount and would also take profit quickly and set rest of position to Break Even quickly. Not ideal and a riskier trade, but the pin HAS come off of the 76.4% fib zone, which is a good sign for an extended 'long' run if we break the recent swing high. If you take it, make it a free trade as soon as you can.
If we do break that 94.60 area later this week, we're looking pretty good.
EUR/JPY
Same as above , but as Belakas said, it didn't close within the previous bar, so it doesn't fit the mould so to speak, and shouldn't be traded as a pin. ...good retracement though. ...Something doesn't look right (to me) with this pair, either, for a long.
Bundy's status today: "Waiting..."