I have been reading the james16 thread and have gotten some really good info from there. I am upto page 44 now. I am still a little confused about the pin bars.
Are you supposed to wait for the right eye to close before you enter the trade? The way I see it, how can you call a bar a "pin bar" unless the right "eye bar" closes?
eg: If the our pin bar is protuding down and the right eye bar has just started to form. There is a chance that the right eye bar will go lower than the pin bar. I hope you see what I mean....I wish I had pictures to explain this.
Thanks.
Are you supposed to wait for the right eye to close before you enter the trade? The way I see it, how can you call a bar a "pin bar" unless the right "eye bar" closes?
eg: If the our pin bar is protuding down and the right eye bar has just started to form. There is a chance that the right eye bar will go lower than the pin bar. I hope you see what I mean....I wish I had pictures to explain this.
Thanks.