DislikedIMO you should not be trading like this,and the only thing that interests me today were the USDJPY BUOB, which turns out breaking weak therefore not a good setup IMO.Ignored
DislikedI agree with you, I am only looking at pin bars from now on, good 1,2,3 day pin bars at swing high low for A+ setups. I will then look at other good looking pin bars not at optimal locations but look to move stop to BE quickly. I think outside bars work, but as you say they need to be at the swing high low, not a few bars after. I took a loss on this one also and wiped out my profits from last trade and more (using small account size though, demo for me). Learning costs, we should be glad we are here only losing a few % than using some crazy system...Ignored
Isn't it crazy. We get a BEOB on the Auzzie that's at a swing high. (I agreee with you marc, the best ones look like this 4 hour Nzd/Jpy from last week), and It gives up a tough 30 or so pips. Then we have a BUOB on G/U, G/J, etc, that's not in the ideal location (which is at swing low) and it breaks hard for 100+ pips.
But this how we do it. We look for the best PA setup that give the highest probability of success. They have to meet our strict criteria because when they do we know that the odds are in our favor.
You have to get use to seeing some PA setups go to the moon without you its all part of the learning experience. It's still tough for me to see. lol
Indicators show the past. Price Action "Indicates" the future.