The only potentially valid signal would be to short this BEOB, or there was one on the 1hr, but it wasn't a clean looking BO+PB, which is easy to see after you see the good ones. If you did take the 1hr BEOB then it was a loss
So the bar here with an arrow above it is a BEOB, but the low never breaks.
the problem is my English that is horrible
but in thsi reply to me you are saying that you are tak a short on a bullish PB:
http://www.forexfactory.com/attachme...8&d=1220913443
why not do the same with the BUOB on GBPCHF?
No worries your english is just fine
That question had to do with ways of playing a "failed" pinbar. Then is selling a low of a failed PB. I suppose you could do the same thing with BUOB/BEOBs, but you want to limit yourself to those(including playing failed PBs). That is my least favorite way of entering a BO + PB. Because you are just selling a new low(or buying a new high). I much prefer and 95% of the time am always just using confirming PA on the pullback. It is much simpler to do. And I have only done the other thing with PBs.
I would be more prone to sell a failed PB when you have a much longer term TL breakout play such as that shows on the daily. This is because it is going to carry much more weight then a 4hr or hrly trendline. There are so many potential breakout plays on the lower timeframes(4hr/1hr) there is no need to fiddle to find extra entries. Just wait for the clean ones that jump out at you(this is the patience and discipline part).
Hope that helps
Mike
Ryan already said that he had finished putting up charts in this thread so I don't know why people are going into long-winded soliloquies about him stopping. Furthermore, if this was such a dire problem, surely James would say something since he's already made several posts since Ryan started posting some charts. Let's just move on.
I also don't see much point in a pdf since people can just click on Ryan's past posts (if someone wants to though, more power to ya) and I definitely see no point in a separate thread as that will be guaranteed to just devolve into 'Hey guys I added these 3 indicators to filter this method..."
The only potentially valid signal would be to short this BEOB, or there was one on the 1hr, but it wasn't a clean looking BO+PB, which is easy to see after you see the good ones. If you did take the 1hr BEOB then it was a loss
So the bar here with an arrow above it is a BEOB, but the low never breaks.
Right then Ladies, lets get back down to business. 'nuf bitchin' about Ryan....
Will anyone give me an Amen to a price action reversal on the weekly E/U. I have a Doji bar off the 987 fib sequence and previous resistance. I know its not a pin bar but it is a valid reversal candle. Enough confluence?
I am trying to learn and your thoughts/criticisms/rants/praise would be much appreciated in order to refine my trading capabilities, after all, thats why we are here isn't it, to help each other?
that monthly pin bar does'nt fascinate me atall if you ask me...
I am a kind of trader who likes to stick in the range of 4H-weekly, that pin bar maybe a juicy situation for a monthly trader, that is there is a good enough chance that Eu will go up in the next few months.
before we go any further let me reqoute the above statment and put in bold the keywords...
"There is a good enough chance that Eu will go up in the next few months
honestly speaking i was far from believing this downthrust would be good enough to reverse the entire uptrend right from 2001, however it's good to know longer term PA does confirm this.
don't forget that some more bear run should not hurt the pin bar much, and then again we all know that pins will often want to form their eyes before they get activated and dictate price direction. with the weekly and the daily all pointing down (i do not believe in price patterns) i will not hesitate to look for a short, and i am currently looking at 1.45 as the next major stop for price...
