UPDATE 12/03: 2) scratched
Results:
1) 2 won on 1 risked
2) 0 won on 1 risked
Summary:
2 won on 2 risked
UPDATE 11/03: 1) TP hit, profit taken 2) stop moved to b/e
Two short entries after .618 pullback and trendline fakeout:
1) sell limit at half of pinbar , with TP on low 10/2014
2) sell stop under lows 2/2013 & 5/2014, TP on low 3/2014
Results:
1) 2 won on 1 risked
2) 0 won on 1 risked
Summary:
2 won on 2 risked
UPDATE 11/03: 1) TP hit, profit taken 2) stop moved to b/e
Two short entries after .618 pullback and trendline fakeout:
1) sell limit at half of pinbar , with TP on low 10/2014
2) sell stop under lows 2/2013 & 5/2014, TP on low 3/2014
Olu
I was just about to put this idea up when I saw yours. I think the idea is credible. The move up from the lows is not as dynamic as the move down. Secondly this move happened at the same time usdjpy moved up strongly. It only attests to the weakness in the aud
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jazzik
Olu
Good point on USDJPY, let's see where it gets us.
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Olu
I forgot to add that the high of the friday candle just about touched the 50sma on the daily chart before the rejection
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jazzik
Olu
Yes, 50 MA being touched raises the probability of success for this setup even higher. Cheers for that!
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jazzik
Guys, do you know why the bearish pin bar from 6/3 changes to totally different shape after the chart is updated with current data? Is it a bug?
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Olu
jazzik
It is the same on my chart after update. Whjat did it change to on your chart?
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jazzik
Olu
Now it's fine. Yesterday after clicking price update, the 6th of March candle changed colour to green, had different shape and different hi/lo prices. There must have been an issue with the charting algo.
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Olu
jazzik
Must have been. Right now price is going down.
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