Is that a pinbar forming on a daily chart EUR/USD ?
- #4,282
- Edited 4:12pm Jun 16, 2011 3:47pm | Edited 4:12pm
- Joined Nov 2008 | Status: Trader | 2,177 Posts
- #4,284
- Jun 19, 2011 12:31pm Jun 19, 2011 12:31pm
I meant, i think by experience, i its usually good to wait a bit, after opens London or US, cause usually its bit of shaking off. Hmm, Thought i did so, RR would be quite higher, not sure what r you aiming at, can you please explain bit more, i like different thoughts about it, 3 heads know more then one
The longer the wicks the stronger the "signal", on the other hand also bigger R:R, personally many times i like to see it develop, then next candle usually retraces a bit to the wick down or up, and then i like to enter @ that retracment just to get price cheaper and lower my R:R, but now i when i see it, i kinda think i was forcing it. Glad to see people sharing opinionsi like it, makes me think
Hope im not spamming, this is demo account that i like to play when i come home like now, bit $#%#!"$%. Short @ 42176, SL 42228 , TP 41888....
Edit... Took off the tabl @ 4200, strong "wick"
From your edit I can see that it was a profitable trade. Well done.
If you don't risk, you don't ever have to lose.
- #4,285
- Edited 1:25am Jun 20, 2011 12:56am | Edited 1:25am
- Joined Nov 2008 | Status: Trader | 2,177 Posts
Another one, just before Frankfurt open,got in bit early as i thought 4220 area support gonna hold on 5min timeframe,also if you look at 30min timeframe, looks like previous support turns into ressistance,and now 15 min pinbar, i think also small divergence on 5min. Long @ 4231, SL @ 4215, Targetting 4260. Monitoring on 5min, will let it go if price action shows so, like inverted hammer.Lets see..
edit. Uf, survived by 1 pip
edit. Uf, survived by 1 pip
- #4,286
- Jun 20, 2011 1:47am Jun 20, 2011 1:47am
- Joined Nov 2008 | Status: Trader | 2,177 Posts
Stop hit. On to the next one
- #4,287
- Edited 8:14am Jun 20, 2011 2:30am | Edited 8:14am
- Joined Nov 2008 | Status: Trader | 2,177 Posts
- #4,288
- Jun 20, 2011 4:45am Jun 20, 2011 4:45am
- Joined Nov 2008 | Status: Trader | 2,177 Posts
There is a lot of noise on a 30 second chart so take care when trading. Higher timeframes contain more information per bar/candle. I'm not someone to tell you to trade daily charts, but I think 30 seconds is stretching it. One can find a lot of pin bars on such a low timeframe but very few of them are any good. In my experience M5 is much better. Of course, you could always combine the two using M5 for signals and S30 for entries. This is your money so you decide, I'm just here pointing out what I think is best.
From your edit I can see that...
- #4,291
- Edited 4:13am Jun 22, 2011 3:49am | Edited 4:13am
- Joined Nov 2008 | Status: Trader | 2,177 Posts
