DislikedHi traders,
Went short after the break of the pin (trade live with other broker).
Did i something wrong, or was it just not working out (so far)?
I know the pin is a bit small compared to the other bars but bounce of a nice ppz. Did i mark the ppz areas well on this chart?
Thanks,
ThierryIgnored
These are the bars that worry me the most
This is a very small pinbar counter the strong recent trend. So we have to ask ourselves why price should really want to move lower here becides just showing a small pinbar. Remember the bars are nothing more then our trigger points from our confluence/locations(ala benjis trade above). Also I noted the very very first trouble area which we can't ignore if we do want to play such a tiny pin by itself. Another note is that the prior bar is actually a sunday bar and if we ignore it like James does then the pin is actually not much of a pin as it didn't close within the prior bar. Other then that your PPZ are fine, but I would like to see a much larger bar or a more clear test of the top PPZ to really suggest us to move lower. This is a small bar that we can only really expect a small move and then we must be very very quick to b/e or cut out fast which in my eyes makes it too tricky here.
Hope that helps
Mike