FX:GBPCAD   British Pound/Canadian Dollar
165 13 5
UPDATE: I WENT MT4 AND REALISED YESTERDAY'S D1 DID NOT CLOSE BELOW WEDNESDAY'S BULLISH BAR. IT IS NOT ENTIRELY A BEARISH ENGULFING PATTERN.. BUT TV'S IS...

COUNTER TREND TRADE BASED ON PRICE ACTION.
FAILED PIN BAR SIGNAL FOLLOWED BY BEARISH ENGULFING CLOSING AT ITS LOW.
ALTHOUGH SOME CAN DISPUTE THAT WEDNESDAY'S D1 CANDLE CANNOT BE A BULLISH PIN BAR AS IT OCCURED AT A HIGH,
IT COULD IN SOME SENSE SIGNIFY PRICE MOVING HIGHER AFTER MANAGING TO CLOSE ABOVE FEB 24 HIGH.

ENTER SELL @ 50%.

H1
snapshot

"FAILED SIGNAL, BEST SIGNAL"

Related Ideas

P_Parker
a year ago
Hui, this is getting very interesting... I am on the other side ;-)
GBPCAD Long
+1 Reply
PriceActionTrading P_Parker
a year ago
Yea you could be right too. MT4 does not show bearish engulfing... TV does...
Reply
vdubus PRO
a year ago
some charts, one look & you just know ay. Good call :)
+1 Reply
PriceActionTrading vdubus
a year ago
Hopefully... MT4 doesnt show bearish engulfing... TV does... Thinking if i should cancel my sell order...
Reply
P_Parker PriceActionTrading
a year ago
Oh Man, I dont wanted to worry you! I am a novice Trader.... :-)
What you think of USDCAD? Maybe to early to short but I wanted to try...
USDCAD Pending Short

+1 Reply
PriceActionTrading P_Parker
a year ago
D1 already registered a bearish pin bar closing at its low after cutting 1.2600. But expected shorting zone is 1.2700-1.2750. So i would say its too early to short although it looks really viable to short.
+1 Reply
vdubus PRO PriceActionTrading
a year ago
Looking good my end http://pasteboard.co/1FRoWZNf.png
+1 Reply
PriceActionTrading vdubus
a year ago
Yea, same as mine. If we consider the wicks, it is not an engulfing.. I would very much prefer if the wicks are engulfed too... Hence, i would consider before entering this trade.
Reply
vdubus PRO PriceActionTrading
a year ago
To much knowledge is a bad thing lol go with your gutt. RW it's a good bet. Its also the start of a MTH trading range, can't see it breaking out top side
snapshot
+1 Reply
P_Parker
a year ago
I closed my Long Position at Break Even cause of the expected Volatility due to the Greek Referendum on Sunday (also my EURCAD Position).
How do you handle that as a Price Action Trader? Do you consider economic news when taking a trade?
I guess usually not, but when there is a high risk of Weekend Gaps it would be better not to trade?
+1 Reply
PriceActionTrading P_Parker
a year ago
I see trade setups and trade it. Major events such as greece, i will limit my positions but i am still holding EC sell (a small one). EC and GC are still showing sell and the news may realise these setups.
Reply
P_Parker PriceActionTrading
a year ago
Thanks for your always helpful answers
Reply
UPDATE 1 : GRAVESTONE DOJI FORMED D1. BEARS ARE STILL IN CONTROL.
Reply
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