{quote} Here is the screenshot of NZDCAD. Does this qualify as a tradable pin bar. It is heading right into support / FTA but can enter once it clears that hurdle. Attaching the screenshot. {image}
However there are always going to be other factors around that will matter just as much. For example I am looking at how the pin bar itself is pretty small compared to the huge move up. Now in Hancock we needed the man himself to stop the steaming train dead on its tracks. A normal person couldn't have done that. Likewise you need some good bearish muscle to hold that many bulls by the horns - i.e, we want a nice big bearish pin bar with a long nose and the entire range bigger than the the preceding few bars at least.
The other thing that jumps out here for me is simply the nature of the run up recently. We have a lot of bars with wicks to the upside. Now taking a trade right at the top means going back down, these wicks can likely act as minor support areas hence the killing the trade for space. So while we don't have the so called "consolidation box" here the run up itself represents a dragging movement not so conducive to major reversals.
Lastly, I would also bring into my notice the fact that the prior swing high hasn't really been breached here. Now because pin bars, at their heart represent stop hunts and simply taking on the bigger orders, it is not uncommon for those big orders to be stacked above prior swing highs and slightly away from the vicinity of PA. This is essentially why we need our wicks on the pin bars to be nice and long protruding away into empty space. Here in this case a long nose protruding into the vacant space above the swing high would not only have given it a more bigger look it would have added to the bearish story in a huge sense.
Let me know if anything is still unclear.
g.
I believe . . .
in other thoughts, USDJPY looks nice and what do you guys think of GBPCHF? all the best!
testing my patience 
