DislikedTalking from the James16's school of thought...
What I am looking at on the daily is a great breakout and then the pullback to the 1275 price level where we had those cluster of bar highs. Moreover the day closed above this level with giving the Friday bar a more pin bar kind of a look.
Although we're at a swing high with divergence there hasn't been much of convincing PA if you ask me. The weekly closed more like an indecision bar than a pin bar, and the daily keeps giving me the impression that we want to test 1.29 at least...
Regards,
Ghous....Ignored
I know pin bars are meant to be played on the break of the pin, and if there is resistance dead ahead, its not going to be a good trade. What I am wondering basically, is it ok to take these pins past these heavy resistance levels? On that trade I see 1.275, and 1.270 as the main level of concern... if that was say a better pin, would it be a good area to enter below the 1.270 area, even if it isn't technically the actual break of the pin? Or does the fact that there is resistance right where you'd normally play the pin, completely invalidate the profit potential of the pin all together? Sorry if this is unclear, hard to explain