Patience + Humility + Study = Success
even in weekly do you use tight stops?
DislikedAnyone playing this pin bar retrace?
Resistance seems to be strong at both 2.01 and 2.02 with multiple bar lows and closes.
Plan so far is to enter above 2.0 at the 50% fib line. Stop loss will be set below current bar low as long as it closes above the 2.0 line.
I'm still new to this and demoing but it seems like a decent trade to be taking and it has space all the way up to 2.01 for some easy pips.
My reasoning behind the stop placement is that it has already tested the 61.8 fib, the 2.00 line, so if it breaks the current bar low in...Ignored
DislikedHi anyone playing E/U?
Saw an enngulfing bar closing low on friday on the daily chart, plan to long now till TP at 1.4087 because think will retrace to 50% Fib of friday daily before it drop, then short from 50% Fib of friday at 1.4099.
Pleasse comment thanksIgnored
DislikedIt's an aggressive approach Tipers, that doesn't mean its wrong. Pin Bars are not Pin Bars until they break, so I tend to play retracements after they break.
Your plan looks good for an aggressive trade.
DislikedBut to be safe i will enter shrt only at 50Fib as james16 said.Ignored
DislikedCheers for the thoughts. I haven't played a *sorta* pin bar retrace as of yet so was eager to try one. I'll let this one play out as it is on demo and see what I can improve on.
It also has confluence with 1.41 and a bunch of recent bar lows as resistance. I'm watching this point alsoIgnored