DislikedAs a general rule, the best situation is that the next bar (candle) breaks above/below the given Price Action, in this case, a Pin Bar. (check your booklet).
Conformation of a failed Price Action, (i.e. PB), a break of the opposite side of the intended direction. But I have seen on higher time frames that Price Action can be . . . let's say . . . delayed a few bars and work out just fine. But the key to it all is the break.
Now the Pin Bar (candle) you have shown on the Daily Gbp/Jpy needs to go through a quick check list.
Location? Not the best, kinda crowded.
Confluences? Close to a PPZ but far from trendlines.
Higher time frames PA? Nothing I can see that stands out but a spinning top on the Weekly, but that could go either way.
Trend direction and/or continuation? Trend has been in a uptrend on the Weekly and Monthly.
Just some thoughts,
JimIgnored
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Indicators show the past. Price Action "Indicates" the future.
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Trust price. Know yourself.
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