Dislikedhi
i intend to short EURAUD. i saw a pin bar on the daily chart and it has broken 1.7000 and price seem to be coming back to retest the resistance. Dropping to the 4hrs chart , there seem to be a outside bar. do you think it a valid short b cos i cant decide the trend.Ignored
Looking at the Daily, the trend is more the "down-quiet" type but zooming to a 3H, it's also down-quiet from what I can tell. The outside bar and pinbar you mentioned, which just formed this week are opposing each other, with 1.6850 as the handle.
"Is it a valid Short?"
Since there's opposing PA, I'd be more conservative, wait til price moved beyond either pinbar before possibly trading it - getting out the range of that price handle as a prerequisite. That's me, though. This isn't a pair I'd trade, simply because it's not one of my "home base" pairs but I like the practice and perspective - thanks!
Soca