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
"FAILED SIGNAL, BEST SIGNAL"
Comments
P_Parker
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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?
PriceActionTrading
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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.
P_Parker
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Thanks for your always helpful answers
vdubus
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some charts, one look & you just know ay. Good call :)
PriceActionTrading
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Hopefully... MT4 doesnt show bearish engulfing... TV does... Thinking if i should cancel my sell order...
P_Parker
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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...
PriceActionTrading
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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.
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.
vdubus
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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
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?