hello josh and welcome to the thread.
be careful with your bar formations. its a common mistake for new folks.
bar 1 is not a pin bar but an outside bar and a strange one at that. to have been a pin bar its high would have needed to be within the prior bar.
bar 2 is simply an inside bar. it has a pin bar look to it but its not even close to being a true pin bar.
your highlighted bar is a pin bar and was a decent one in my opinion simply because oif where it formed. as jarroo said it went exactly where you would have suspected.
you will be much better served to get off of anything shorter than daily while learning.
jim
be careful with your bar formations. its a common mistake for new folks.
bar 1 is not a pin bar but an outside bar and a strange one at that. to have been a pin bar its high would have needed to be within the prior bar.
bar 2 is simply an inside bar. it has a pin bar look to it but its not even close to being a true pin bar.
your highlighted bar is a pin bar and was a decent one in my opinion simply because oif where it formed. as jarroo said it went exactly where you would have suspected.
you will be much better served to get off of anything shorter than daily while learning.
jim
DislikedYeah, I really liked this trade. I am not following when you say that the Pinbar was too small relative to other Pinbar lows that didn't work. Looking at the 8 hour chart, I only see a few pinbars in the last 5 days or so... Or are you looking further back than that? It looks like it's a swing low, O/C inside previous bar, nose protrudes 0.72 below prior bar low.
Now, if we look at confluence. All I had was that it failed to break through 113.00 after being able to do so two weeks ago. I would think we should need more than that. So if that's...Ignored