But since this did not happen the bar you pointed out only looks like a pin bar which never got validated.
I believe . . .
Where can I learn more about Price Action like those in James16 charts? 9 replies
Dislikednope, It was valid pin bar if price would have broken the bar high.
But since this did not happen the bar you pointed out only looks like a pin bar which never got validated.Ignored
DislikedDo you mean, people should enter a trade only after the right bar break the "pinbar's" high, rather than enter immediately after the "pinbar"?Ignored
DislikedDo you mean, people should enter a trade only after the right bar break the "pinbar's" high, rather than enter immediately after the "pinbar"?Ignored
Dislikedyep thats exactly what they mean, and usually with a bit of leeway. I think J16 suggest 10 pips. Depending on the timeframe you can reduce / expand this if you want.Ignored
Dislikedyep thats exactly what they mean, and usually with a bit of leeway. I think J16 suggest 10 pips. Depending on the timeframe you can reduce / expand this if you want.Ignored
DislikedDon't think we have a lot of space there Jon 1.75 is a big concern, DAMN it's a brick wall, on the chart below notice how it has forced price to give off tails at tocuhes.
You'll have to manage it tight...
Regards,
Ghous.Ignored
DislikedI trade pinbars in 2 ways.
The first way is a 'reversion to the true trend' pinbar where the pinbar is trying to drive price back to the real trend. This is perhaps the most profitable as the trend is your friend
The second was is when it occurs at a deeeeeeeeeply overbought/sold level to herald in some reversal or consolidation. I usually like this on the 4hr or daily chart for more significance
The euro is in limbo but the expected trend seems to be down on the daily
so you are fighting taekwando with the true trend. I thinkIgnored
DislikedHi Basber,
Blind entries refer to trades taken off ppzs without waiting for PA. There really isn't much to say just get yourself a demo and play around with it...if you stay focused and determined no one's stopping you from developing the technique.
You will need to work on trying to anticipate which ppz will hold and how well. Trend direction, fundis, ppzs, correlations, and the bars themselves all or some of these will assist you depending on your style.
My entry was based entirely off the ppzs I marked in golden. With the trend, bar highs/lows...Ignored
DislikedHi Everyone,
If The H4 Candle Closes Above 1.613x , Could We Call It A Pin Bar ? IS It A Good One Or Because Of Daily Candle Is Absoloutly Bearish, We Should Avoid Entering It ? Need Some Advice.
Wish Everyone A Profitable Week
Regards,
BasberIgnored
DislikedFor me, I think its size in relation to the previous bars rules this out - it's a little bull fighting a huge bear. There's news out this afternoon (GMT) which may trigger it, but i wouldn't be fighting the bears today.
Just my two cents.Ignored
DislikedHi Everyone,
If The H4 Candle Closes Above 1.613x , Could We Call It A Pin Bar ? IS It A Good One Or Because Of Daily Candle Is Absoloutly Bearish, We Should Avoid Entering It ? Need Some Advice.
Wish Everyone A Profitable Week
Regards,
BasberIgnored
DislikedHi Everyone,
If The H4 Candle Closes Above 1.613x , Could We Call It A Pin Bar ? IS It A Good One Or Because Of Daily Candle Is Absoloutly Bearish, We Should Avoid Entering It ? Need Some Advice.
Wish Everyone A Profitable Week
Regards,
BasberIgnored
Dislikedyeah good point ghous,this is why i didnt post it over the weekend.
its something to watch. ( i had actually just closed my short from this morn when i posted.)i would like a retrace entry if poss??
cheers
jonIgnored
DislikedFirst it didn't break, and the reason might be the downtrend bias the pair has -> just look at recent highs and lows and the direction they are pointing to. Lows have been broken so the bias is down down down for now.Ignored