Disliked{quote} Very nice trades Guitarbloke! Some questions if you don't mind: 1. When you write BEOVB, is that Bearish Outside Bar or is it some other PA bar? Just want to make sure since I've mostly only seen people write BEOB/BUOB. 2. in your BEOVB trade you say "3 pips shy, Jim says 3-4 pips is ok", I haven't seen this info myself but you mean that for Bearish/Bullish outside bars its alright to take them if they are just a few pips from entirely engulfing the previous bar? 3. Your pinbar trade, what was your entry trigger for this? Very nice trade...Ignored
1. BEOVB = Bearish outside vertical bar. Vertical as opposed to horizontal (Jims terminology).
2. "3-4 pips shy is ok sometimes on the daily and maybe H4" is what Jim said many years ago in the early pages of this thread. You will likely find these words if you follow links in post 1 page 1. Probably best not to use this advice though, as you could easily start to get too loose and take incorrect PA signals.
3. On reflection, that pinbar trade had a sloppy and dangerous entry in my opinion, as we were still in a strong uptrend and who's to know if now is when it would reverse. I entered on a smaller time frame bearish PA, but there were other factors I considered such as the PA story before entry. Remember smaller time frames are less reliable. Best to stick to Daily, weekly, or sometimes H4. Next time I see such a set-up I will give more thought to entering on close of PB.
Appreciate the questions, Thanks. GB
Undisciplined, impatient and unruly. Don't follow me kid.