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Pin Bar

EUR AUD AB=CD Point C Pin Bar rejectionPrice has formed a nice AB=CD pattern. It has rejected the 61.8 level at point C. Take profit could be as much a 435 pips. A tight entry could a very nice risk reward. There for Risk reward of 13.5 or 4.4. A nice rejection pin bar has formed, so a stop placed a bit beyond that is my preference. Currently I can't see any sign of divergence. I have seen a trendline breakout when using the smaller time frame. The rejection pin bar sits nicely on the 61.8 level and the 1.62500. There is some structure there, but there is more on the 1.6300 - which may be the safer location for a stop loss.. Rejection of horizontal (blue) ascending resistance trendline.
Short
by UnknownUnicorn3974120
USDCAD False Breakout? STRATEGY: False Breakout Strategy/Counter-Trend Long Term Trend Time Frame: 1D/4H Focus Time Frame: 1H Market Condition 1D: Short Term: Downtrend (based on 100ema) Long Term: Sideways Market Condition 1H: Short Term: Sideways Long Term: Uptrend (based on 100ema) Area of Value (AOV) Resistance: 1.32915 - 1.33813 Support: 1.31118-1.30205 Entry Trigger: 1H: Bearish Engulfing Entry Price (EP): 1.32216 Stop Loss (SL): 1.32426 Take Profit (TP): 1.31234 RRR: 4.68 Analysis: 1H: Price boke above minor resistance but immediately followed by bearish engulfing. Found support at descending trendline, however, price seems struggling reaching new high (pin bar was also formed rejecting higher price). These could be a sign of False Breakout. NOTE: This post is for my reference/journal purposes only. Trade at your own risk.
Short
by jumpstartscript
EURCAD Support & Resistance TradingSTRATEGY: Support/Resistance Trading Strategy Focus Time Frame: 1H Long Term Trend Time Frame: 1D/4H Market Condition: Ranging Area of Value (AOV): Resistance (Price at Resistance Zone) 1.47387 - 1.46936 Entry Trigger: 1H: Bearish Pin Bar 4H: Bearish Engulfing Entry Price (EP): 1.46725 Stop Loss (SL): 1.47432 Take Profit (TP): 1.44753 (2.79R) Analysis: EURCAD is currently at a ranging market condition as we see clearly on the chart. Looking on the 4H Time frame, we can see that price rejected the Resistance Zone with Bearish engulfing. On 1H Time Frame, the zone got rejected with 2 bearish Pin Bars. Prior to these, we can see that the price approached the Resistance Zone with High Momentum. This usual type of move approaching either Support or Resistance Zone usually indicates trend reversal. OANDA:EURCAD DISCLAIMER: This post is for my reference/journal purposes only. Trade at your own risk.
Short
by jumpstartscript
1
Low risk entryThis is a simple breakdown of a good price action trade setup 1. Breakout from the triangle pattern 2. Pullback to previous support 3. Fibonacci level in play 4. Moving average respected 5. Pin bar sell signal Stops for this type of trade setup is best placed above the pin bar where this setup is deemed invalid. The target value should be at least 2x the stop value (or more) - in this case targeting support at 14.50xx Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only. You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg For live updates please feel free to join Forex Bootcamp using the link below DISCLAIMER All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.
Short
by Cmasterza
Setting up for a possible shortThis pair has a possible short setup forming after the support was broken. I'll be looking for: 1. Fibonacci levels to be met 2. Signal candle 3. Confluence like the resistance and moving average coming into play.... This setup is to be confirmed with the above in mind. Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only. You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg For live updates please feel free to join Forex Bootcamp using the link below DISCLAIMER All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.
by Cmasterza
Long way up from down under.... AUDCAD LongI've been following this pair since the last bullish weekly close and added to my position on when it touched my prefered fib zone pull back this week. Now with a second bullish weekly close a reversal looks really on the cards. There are still a couple of entry opportunities. One is at market open with stops below the last weekly low, maybe not for the risk adverse but for those of you who are more conservative then wait for a break and test of the descending trend line (in red).
Long
by CromerKing
1
Breakout and retestAfter trading in the triangle for some time the market finally broke out and created newer highs: 1. Breakout 2. Retest resistance as support 4. Pin bar signal 5. Fibonacci zone hit with the pin bar reinforcing the signal (confluence) This type of setup requires the stop to be a few pips below the pin bar candle and the target should be at least 2x that of the risk value. Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only. You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg DISCLAIMER All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.
Long
by Cmasterza
Confirmed buy signalIn my view this is a good quality technical setup with low risk 1. Good support on the weekly time frame 2. Inverse head and shoulder pattern on D1 - a reversal pattern found on major support? How lucky :) 3. Pullback to the fibonacci zone 4. Pin bar signal candle 5. Moving average pinned This trade setup can be traded with a provisional target and if the resistance pops there can be MUCH more profit that can be realized. See the daily time frame view Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only. You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg DISCLAIMER All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.
Long
by Cmasterza