We now have a daily pin bar on GBPUSD at previous resistance. The "nose" is short but the "eyes" are very close.
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Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedThis looks to be just a standard outside bar to me. Nothing special. Would not be playing this one. Are you seeing something???
Cheers
DingoIgnored
DislikedWould i be right in saying the there is a quality PIN on the NZD/USD. As it is at a swing high, its open and close are withing a 10 pips and the nose is a good 50 pips long.
There is an IB on the EUR/USD on the upside of the IB i can only really see physiological resistance and a swing high. to the down side i see it in a pivot zone for the first 30 pips and a 61.8 ret.
There is also a IB on the CAD/USD on the upside of the IB the doesn't seem to be much in the way of any areas of confulence. To the down side i have the 365EMA. Also it is smack bang in the the middle of a pivot zone.
Enjoy
AdemacIgnored
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p.s. James if you feel this is too over the top then ill remove it prontoIgnored
DislikedI'm taking this trade. I know my profit target isn't that much but I'll take it anyways. How might a more seasoned trader look at this trade?Ignored
Dislikedif i sound irritated i am. i hate losing because i am sooo picky about my entries. i wasnt this time and i choked when i saw it. i tossed around in bed for an hour last night thinking i should not have taken it. i only had 1% at risk but it wasnt exactly 50 bucks. food for thought.
jimIgnored
DislikedHi James!
Can you please tell us, after all that night thinking, why you shouldn't have taken it. Is it because you should have waited for a break? or is it something else?
I ask you because, it looked like a very nice pin to me. However I didn't take it because the uptrend was so clear I was scared to short it. I know I shouldn't be scared but the las weeks playing PB have not been very nice to me.
Anyway, thanks in advance Big Master!Ignored
Dislikedright,, same chart.
fibbed in the same way....but it looks totally different?
the DBH doesn't look as close here but IG are telling me it's only 3 ticks difference.
since these useless packages don't write on the fib levels i presume that maybe they are different...can anyone shed any light on this?
this could be my first demo trade...i get excited
tomIgnored
DislikedI don't think I've seen a definition of a Pin bar. I've seen parts of the complete definition, but I never have seen all of it.
Can anyone direct me to where I can find it?
ThanksIgnored
DislikedJust a little observation about NZD/USD, it looks like today's bar is going to close out at as a pin bar as well. Ive noticed whenver you get back to back pin bars going the same direction it is usually a very very strong signal. It might be worth shorting a break down of both pins on monday.....Ignored
DislikedWhat about this setup?
I know some people got burned on the initial Pin bar, but now there are 2 in a row. Anyone playing this? And if you were to play this on the break, would you wait until the break of the 2nd pin, or be more conservative and wait for the break of the 1st pin?
http://www.forexfactory.com/attachme...1&d=1174679468Ignored