Potential setups 2

uksnowman said:
Agreed, although not sure about the last sentence. I thought we already searched and concluded there were no weapons of mass(es) destruction. Boom boom, sorry couldn't resist.

On a more serious note, whether TD just wanted a break or not, I hope that the closed thread isn't deleted or doctored, there surely isn't any info that can't be found on other threads of forums as mentioned already. It is a useful learning resource and I'm sure will continue to be for many of us that want to hone our skills on reading PA.
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what page do you recommend uksnowman?
 
Also I have to congratulate TD for a brilliant level, he will be having a good old laugh seeing how many pages this thread can run to with people talking about conspiracy theories!

Suckers!! :p
 
blancspa said:
what page do you recommend uksnowman?
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Tough to pick out a particular page, there are nuggets all over the place (not just from TD).

For me, the MMT and PS thread (and the invaluable J16 thread on FF) are useful in two ways.

First to help get my head around the basics of PA/SR. Ultimately I want to be able read PA like a book with no need for indicators, it takes a lot of practice but there are people that can do this and they are very successful (I'm slowly getting there and I think it is worth the patience/effort).

Second, to go back and skim these threads (wish there was a drivel filter) to pick up on those gems that mean something in context now that on first pass just looked like sensible advice. This hopefully helps me with the bigger picture of trading and having a more well-rounded approach to the markets.

Sorry that probably didn't help you at all!
 
apmf said:
Thanks Split, although I am still a kind of newbie in trading world but what I have seen is most of the time a nice pinbar on higher time frames are usually a head and shoulders pattern in a smaller TF and signals a trend reveral in that particular TF ( formation of new HH-HL/ LL-LH). So, traditionally people dont place the stops at extremes or even 10 pips below the pivot. I look for retracement of the original pinbar in higher TF,if it is a nice setups then I would like to enter at 38 fib retracement or I look for a pinbar/ bearish or bullish setup at 38 fib retracement or even 50 fib if the prices exceed the beyond the 61.8 fib then there is highly likely chances of failures of pinbar. I mean thats what my observation is, may be i am totally wrong and I dont mind at all.
But, honestly I undertand where ur comming from if proper A++ pinbar have a 90% probability of winning then it will be really conservative to keep a stops 10 pips away from the nose and risking the same amount or %. The problems comes with small traders like me who cannot afford a monster pinbar +10 pips stoploss, as sometimes risk: reward are like 1:1 or I get stopped whilst trailing the stops.
Probably, i should spend some time backtesting and see the results.
Cheers!
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Yes, I understand your reluctance to use monster pinbars because I feel the same way about large stops, myself, which is, apart from my trading schedule of a few hours per day, why I do not use hourly bars. I am trying larger stops, though, although decades of trading with short ones gives me psychological problems.

15M makes me use stops on FT of over 25 points (with the extra 10 included) What do you think of that? I get jumpy when it gets to 13 and, quite often, close my trade. I have wished that I had not, though. On that TF, one has to be more selectice, though.

Your use of Fibs interested me. I'll look at that. Everything has to be tried!

Good trading.
 
Aaronmalins said:
I'm not going to argue with you but as I said earlier only bbmac has been posting lately or havent you noticed. Also, it wasnt an attack on anyone the point I was making is that most people in the thread (bbmac being the person I mentioned) do not posts their trades in great detail i.e. targets stops etc.
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the entry and stop is a function of the pin-bar.
it is not necessary to identify the stop since you should be able to work it out.
(when someone asks you to make a cup of tea, you really ought not to have to be told to remember to put a tea-bag in the cup, and to remember to boil the water.)

TD has done a fantasic job of introducing and hand-holding that thread.

also bear in mind you should also be able to work out the fib-confluences. the grey-zones would be things like relevant sup/res levels.

but then, it was a "potentials" thread.
whether you take the trade or not is a function of your risk appetite.
theoretically, you could take a less promising pin-bar at reduced stake "just in case", and place a full-stake when all the boxes are ticked.

bbmacs post are excellent in that he gives a full analysis. however, you run the risk of not engaging your own brain and think through the logic of the validity of a trade or not.

when a pin-bar "potential" is highlighted, it should serve as a point of analysis, not a blind "trade this".

dunno why TD has done what he has done. but his thread should stand the test of time.

EDIT: so, is this thread going to overturn TDs wishes and turn into a copycat thread, or just moaning about his reasons for closing the original ???
 
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GBPJPY potential H1 pin bar forming, confluence with 1 hour descending trendline, 61 fib from last leg down and hourly PPZ.
 
not sure what we looking for but there is a 4H doji formed on GBP/USD (long legged)
 
great
there was a pin bar EUR/USD 3 min ago
going short with 200 point s/l target 1000
 

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Well what's done is done and there's no point in crying over spilt milk etc etc. IMO you need to keep an eye on how far from DM the brokers are pushing the prices and if its uniform because if its discretionary I know there will be a body we can complain to and I dont give a flying f*ck if you're albert eistein hawking newton the third you're not back writing an algo to fit each of the of the stops they set.
 
vinicius said:
The bearish momentum is still aggressive. However, the potential for a breakout on this rally is likely low.

There is no Fundamentally, there are no specific events that can directly threaten to force a dramatic shift in risk appetite on their own. Neither does the data scheduled for release over the week have the influence to single-handedly decide the Canadian dollar’s or Japanese yen’s future trend.
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Up 150 pips from my entry.

Risk of 4 points!


If retail sales shows a not so bad number tomorrow it will be very nice!

Edit: Are you megamuel?
 
I didnt get in on that trade in the end, I had to go out and missed it :(
 
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