DislikedHey guys,
what do you think about this one?
PB in lowest low,with bullish divergence
USDCNH DailyIgnored
With so much down momentum I would not be looking to buy that pinbar.
Even if you go for it make sure to take profit on the first bar that goes against you. A reasonable target if that pinbar high is taken out would be 6.245 after which there might be a reversal.
However if there is an upmove from that pinbar then be alert - most probably the downtrend extreme is bound to be tested again after which one can go long if the correct setup presents itself.
You could also place a stop limit order to short below the high of the pinbar, i.e. on the pinbar failure.
Regards,
iqgod