Disliked{quote} Hey Ken, Donaieillo nailed it there. I don't use fake outs as a stand alone method / system. I use them as a slight variation to the typical J16 method. Which means that the story around my setups is absolutely imperative. A pin bar itself contains a lot of information but you'll notice we use it as a mere trigger to fire a trade off of great locations. Like wise the fake out itself is a good indication of where price should go but it still works best when you work around a solid story around it. So here, if I say we had a bullish pin bar...Ignored
Eur/Chf is showing some promising bullish movement, which opens up the scenario for a long, if it manages to close beyond this wedge.
As far as I'm familiar with fake-outs, here's my view.
the support was broken to the downside, but is just now being retested with what is shaping up to be an outside bar.
If this bullish outside bar fails to break supp. turned res., the overall wedge story is being confirmed.
If price manages to break above, beyond the wedges' upper TL, I'd look at it as a fake-out scenario.
For now I'm trading mostly the original J16 method, trying to lean ever more towards Mike's pickyness.
But there is still a long path ahead of me..
W
It's a sport, an artform and a science.
). No doubt I'll be embarrassed at a few of the trades a I took, but I think this is a worthy price to pay for some feedback from the trading brains on here. Cheers pal, and good luck for your next month!
