The bar you are referring to is more of an inside bar. A pin bar needs to have it's tail sticking out from the surrounding bars. That inside bar you are referring would have actually been a good momentum-continuation setup. I was justing trying to post up some setups in real time so people know that I am legit. Obviously this last trade didnt work out, but because I effectively manage my risk it doesn't matter. On to the next trade.
Price Action Strategies
- Thread starter krtrader09
- Start date
The bar you are referring to is more of an inside bar. A pin bar needs to have it's tail sticking out from the surrounding bars. That inside bar you are referring would have actually been a good momentum-continuation setup. I was justing trying to post up some setups in real time so people know that I am legit. Obviously this last trade didnt work out, but because I effectively manage my risk it doesn't matter. On to the next trade.
<a href="http://clip2net.com/page/m15546/3388383"><img src="http://clip2net.com/clip/m15546/1263346339-clip-14kb.png" alt="1263346339-clip-14kb"/></a>
Not sure what happened to the above image. But here is a trade I am currently in:
sold gbp/jpy from 1hour pin bar at 149.50, stop 150.10, target - open.
We can also see a daily pin bar has formed as well.
1 hour gbp/jpy
Daily gbp/jpy
sold gbp/jpy from 1hour pin bar at 149.50, stop 150.10, target - open.
We can also see a daily pin bar has formed as well.
1 hour gbp/jpy
Daily gbp/jpy
Quote from Mr_Black:
This is how I see price action
"Price Action Is in the Eye of the Beholder"
Mr. Black, I have enjoyed reading your posts in othere areas. Would you be so kind as to show where you would have entered and exited on the chart you posted here?
Thanks,
BMW
Thanks,
BMW
Here is an example of a great pin bar setup that recently occurred on GBP/USD. Price action is the only way to trade forex in my opinion. Simple is better.
Here is an example of recent "fakey" trade on daily GBP/USD. I would post a link here to some videos of the fakey on youtube but since I can't do that I will just advice anyone interested to go on youtube and search for "fakey setup" or "fakey price action" etc.
