Price Action - Inside Bars
Hi i would like to run through one of my favorite price action patterns the inside bar which hopefully could help to improve your trading. They are very easy to trade, easy to see and can be very rewarding. They happen in every market and every time frame, although i find it is best to only trade them on the daily and 4hr tf's this is...
Martin Pring coined the "Pinnochio Bar." The Pinnochio Bar, or pin bar, tends to offer very reliable reversal signals when identified and traded properly, according to Pring.
I'm going to give you an in-depth look at the "pin bar", hopefully shedding light on the incompetence of even the 'trading gurus', because I don't think even Martin Pring understood why...
NOTE: This trade was published last week exclusively and privately to my followers
As you guys requested, i am explaining the rational behind my short audjpy trade,
On the left hand side overall view, on the weekly chart, the price was testing the main long term potential resistance area around 86.50. At that area i was monitoring the price for possible...
In response for your requests guys to explain the rational behind the live trade we took on GBPCHF. Here is the explanation.
On the left hand side daily chart, the price started the bearish behavior on the 78.6 retracement level for the overall bearish wave as shown on chart. As it formed two major bearish shooting star candles.
That was not enough for me to...
How to trade Inside Bars:
1- put SL some pips under (over if short)
high value of the pattern
2- enter after the pattern is created
3- I usually trade with a risk/reward of 2
How to trade a tweezer top/bottom:
1- They must placed at the end of a consolidated trend;
2- I usually put a SL some pips under low value of the pattern
3- I usually trade this pattern with a risk/reward of 3 if trendfollowing and 2 if not
How to spot a Fakey Pin Bar
1. long candle called "mother"
2. an inside bar (remember that high and low values of an inside bar MUST be inside high and low values of the previous bar)
3. pin bar (long shadow in the opposite direction of the future trend and a small body)
How to trade it
Stop Loss some pips under pin bar low
Enter after pin bar formation
...
Friends, I haven't had time to post any of my trades in recent days. So i thought i would post some of the trades I took recently. I know this is after fact, but the aim is just to share the knowledge and experience. I made 4 trades, 3 winners and one loser. I will post them throughout the week as i am taking a small rest from markets during the election...
ENGULFING PATTERN is often considered a "reversal pattern ", but it is not always so, this model can be considered a simple pause of the major trend, and for this reason, we have developed a potential "minimum target". On the chart we published four basic questions, and if you are interested in learning this pattern, subscribe to this idea, because soon we will...
Today I received a question regarding what indicators or websites to use to infer and compare the strength between related currencies. I responded with a long winded explanation as to why it is not necessary to use indicators or websites to infer such information because it can be realized solely through price action. If we look at the daily range today on GBPUSD,...
1 we have to analyse what kind of gap was it. ( runaway, breakaway, exhaustion)
2 current gap on a 1 minute chart is a Breakaway, as it has broken through a short term trend line,
3 when we have a breakaway gap, the gap close is less likely, so we're waiting for a consolidation that will nearly fill the gap, in our sample it's 50% Fibonacci area.
4. we're placing...
Greetings Fellow Traders,
Price Action, Support and Resistance are a very critical part of trading and always aid in the removal of emotions from any trading scenario.
I've posted a couple of analyses recently regarding this pair, and one of them turned out to be an opportunity that would have been a loss. It's just as important to know when to exit your trade...
Here is another example of how the high and low for high wave candles are usually trade-able support and resistance levels. I think the chart explains it all.
When spotting a long legged candle(long shadows) its important to keep an eye on the high and low of the candle as potential key levels of resistance and support. In many cases those levels act as barriers...
![USDJPY: [EDUCATIONAL] ENGULFING PATTERN](https://s3.tradingview.com/z/ZQwZxivF_mid.png "[EDUCATIONAL] ENGULFING PATTERN")
