Would you have entered this trade?
if u were to know the subsequent one bar after the pin bar?
if u were to know the subsequent one bar after the pin bar?
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Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedWould you have entered this trade?
if u were to know the subsequent one bar after the pin bar?Ignored
DislikedHey Balloon
The most traditional way to enter these bars when learning is to wait for what is called a break. In this case we would want to put our order below that pinbar which the next bar would not trigger if you use any sort of buffer(buffer meaning some pips away so you know you get a solid break). Many people will let that order sit until it triggers or the bar is invalidated(if price goes ABOVE the high of the bar)
Hope that helps
MikeIgnored
DislikedWould you have entered this trade?
if u were to know the subsequent one bar after the pin bar?Ignored
DislikedI'm posting 4 failed trades from the end of this week for Mike, jaroo and anyone to comment on...Ignored
DislikedHi there
I'm neither Mike or Jarroo but happy to chip in.
I would leave your trades to the seniors, only I will say that your feed maybe hindering you.
I've attached a chart based on your EURUSD 4h example and how different your trade plan could have been if using a NYC close:
- White chart, NYC close
- Black chart (yours) not NYC close
- The levels in red are what I currently have on my chart and are not drawn in hindsight. If you are using the close of a bar on a different feed, they will be in different locations.
- Highlighted PB was...Ignored
DislikedI'm posting 4 failed trades from the end of this week for Mike, jaroo and anyone to comment on. I know that some of the pin bars are not J16 textbook setups and neither are some of the LCS/HCR levels so i'm not reallly concerned about my entries here. I'm wondering how I could have marked out my FTA levels better and how I could have managed these trades.
eur/use: I entered a 4hr pin. I could clearly define a FTA level on the 1hr and could see it bounce and react to this level on the 15 min. Should I have taken profit and moved my stop to BE...Ignored
DislikedThis is my first time doing a trade using D1 timeframe; I think I got too greedy. Could someone tell me how you would manage your trades? When should you be satisfied and say, okay, I'm going to take the wins, and leave some for the next guy?
This is a GBPUSD on a D1 timeframe.
Step 1
Upon seeing the pinbar, I placed:
- a short at the low of bar + buffer
- a SL at the high of bar + buffer
- a initial 1st TP; reason being it's on double fibo lines (76.4 of big wave, and 50 of small wave)
Step 2
- after one day later I feel a bit...Ignored
DislikedIs it a higher probability setup when price breaks the pin on the next bar, as opposed to when it happens two or more bars later?
Example:
On the chart, the pin bar (1) is followed by a bullish bar (2) which obviously didn't break through to the downside immediately. Let's say this occurred at a good resistance zone, and everything else looked good. Would you continue to look to sell a break down unless price invalidated the pin by breaking above it first, or would you decide not to take it after a specific amount of time has passed without...Ignored