First Off i would like to thank James16 and all the other excellent posters in th this thread. It has changed the way i see the charts. I am much less confused by seemingly random changes in candle direction.
I just caught two Pins in the act... on on gbp/jpy and the other on eur/jpy. The 1H chart looked like it was forming a pin and the 30m showed definite Pin qualities. Two further reasons for trade: for G/J support at the 200EMA on 30m chart and support level from this morning's low.
For the E/J, the 30m chart had 365EMA support and support from this morning's low. I am in Melbourne Australia, so the 'morning' might be quite late for you guys.
Attached charts... am i headed in the right direction here?
I think i must be, as the trades i placed i have locked in 10pips. Will watch and wait.
I just caught two Pins in the act... on on gbp/jpy and the other on eur/jpy. The 1H chart looked like it was forming a pin and the 30m showed definite Pin qualities. Two further reasons for trade: for G/J support at the 200EMA on 30m chart and support level from this morning's low.
For the E/J, the 30m chart had 365EMA support and support from this morning's low. I am in Melbourne Australia, so the 'morning' might be quite late for you guys.
Attached charts... am i headed in the right direction here?
I think i must be, as the trades i placed i have locked in 10pips. Will watch and wait.
Attached Images