I have a limit order to go short on the GBP/PLN on the break of the pinbar. I've attached a chart to illustrate why. I can see a lot of confluence here.
1. PA (pinbar)
2. Strong horizontal level that was previous support but now acting as resistance
3. 6 ema has crossed over the 150
4. tail of pin is touching both these ema's
5. Tail of pin is rejecting trendline.
5.
1. PA (pinbar)
2. Strong horizontal level that was previous support but now acting as resistance
3. 6 ema has crossed over the 150
4. tail of pin is touching both these ema's
5. Tail of pin is rejecting trendline.
5.