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Pin Bar

EURUSD: mini-loong before the fall? Here's why (video attached)Hi guys, as you can imagine from the title, i'm looking to buy this market as the market opens. But only if price will not gap more than 15 pips, in that case i won't place my order as displayed. If you want to know the reasons of this trade, you can click on the link below and see my latest videoanalysis (that just came out) about what pairs i'll be looking at this week. Even a bit of psychology in there, let me know if you like it! If you have ideas/questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
5
EURUSD: mini-long before the fall? (Here's why: video attached)Hi guys, as you can imagine from the title, i'm looking to buy this market as the market opens. But only if price will not gap more than 15 pips, in that case i won't place my order as displayed. If you want to know the reasons of this trade, you can click on the link below and see my latest videoanalysis (that just came out) about what pairs i'll be looking at this week. Even a bit of psychology in there, let me know if you like it! If you have ideas/questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
ETHUSD Perspective And Levels: More Bearish Signs.ETHUSD Update: 315 level double top is now generating a pin bar which still has 12 hours before is closes so it can change, BUT again just like BTC, it is worth noting because of the potential bearish trigger that can lead to real selling. There was a nice move from the 286 support zone (that I wrote about previously) back up to 315. I haven't looked, but I am willing to bet there is a lot of chatter about "ETH Going To Moon!", and it's not happening. There is no moon, instead, there is a large resistance zone just above at the 320 to 350 area (.618 of recent bearish swing). This market has not even made it into that zone, and instead is in the process of forming a pin bar at a previous turning point which can solidify into a double top. 305 is the current low of the pin bar (but that number can be lower by the close of the candle). When this period closes, and the pin bar is still present, what ever low is in place at that time will be the short trigger. Then IF the market breaks 280, that will confirm the double top which would signal further weakness ahead. No moon. Just like BTC, the bearish argument keeps building: Price has not even entered the major resistance zone of 320 to 350, price has possibly formed a double top at 315, possible large time frame pin bar forming, plus the 315 level is a lower high compared to 400. If I were shorting these markets, these would be the signs that I would need to see. The key is in the confirmations, just like in BTC, 4104 needs to be taken out, in this market its 280. The appearance of a bearish pattern like a pin bar or a double top alone is not enough. Confirmation implies the selling is significant and is likely to continue. If 280 breaks, there is a .618 support zone (of recent bullish swing) at the 276 to 266 area where price may hesitate, but coming from a double top and lower high, it is reasonable to expect supports like this to break, which can take price back to the 243 to 223 support zone (.618 of entire bullish swing). Like I have written about previously, often the signs are in place before the market is surprised with significant selling and there are many signs at the moment. It is just a matter of a bearish catalyst. The 243 to 223 area is an overlapping support zone and if price manages to retest, I am curious to see how it reacts since a C Wave would be in progress which can complete much lower. Any failed lows in this zone can possibly lead to a large double bottom or higher low formation, and that is something I would be interested in. Keep in mind this process can take time (days). According to my extension measurement, Wave 3 of C (which should be the next wave) is likely to complete around the 267 area (1.618), while Wave 5 of C can push to the 239 (2.618) area (this is based on the proportion of the of the price structure). This is just a possible scenario and is not a consideration until the bearish triggers I mentioned earlier are in effect. In summary, these markets have been very slow in terms of swing trading, but bearish signs are beginning to accumulate. I am using this information to justify staying flat since I do not short these markets. There is plenty of action on the smaller time frames which I encourage everyone to participate in if you have the time and well thought out plan to guide you. My analysis can still serve as an overall context, especially for the levels. My plan is to stay out of any swing trades until this market presents a situation that shows clear potential to the upside for a reasonable amount of risk. Questions and comments welcome.
BITFINEX:ETHUSD
by MarcPMarkets
13
BTCUSD Perspective And Levels: Watching The Pinbar.BTCUSD Update: Bearish candle has appeared on the 24 hour chart. A break of the 4280 low triggers the shooting star like pattern which often leads to significant selling momentum. The candle is present, but it is not in effect until the low is taken out. Once 4280 is broken, it is reasonable to expect price to retrace back to the 4104 support and possibly lower. Since the potential signal is on a larger time frame, the magnitude of the move will most likely be larger. If the bearish momentum builds, this is the move that can take price back to the 3867 to 3705 support zone which is the .618 area of the recent bullish swing. If price falls below that, then the next support area is 3560 to 3310 which is the adjusted .618 of the entire bullish swing from the recent bottom. It is in these zones where it is reasonable to expect price to react and possibly find new stability. There is no way to know until these zones are reached again. Price gave a similar signal on the weekly chart before the recent selloff, so it will be interesting to see if this signal leads to a similar outcome. To review the factors that build an argument for a broader selloff: Price never cleared the 4550 upper range of this wide resistance zone, price formed a minor resistance within the zone (minor .618 of bearish swing), and now the 24 hour time frame is showing a pin bar (shooting star like candle). If there is anything that says don't go long now, this is it. ETH has formed some interesting structure at the same time, but if BTC sells off, I expect ETH and the rest of the coins to follow, especially since none of them pushed any significant highs. I have been bearish and avoiding any swing trade longs in these markets because of the wave count and hesitant price action (although there have been plenty of small time frame opportunities). Keep in mind, anything is possible which means even though the pin bar is present, does not mean it will trigger, but it certainly should not be ignored. If the market manages to stay above the 4280 trigger, that can lead to strength IF 4550 manages to get taken out, I just think this scenario is much less likely, especially in the face of the pin bar. For smaller time frame traders, the break of the 4280 low can offer short opportunities, but again you must have your well defined plan and know how to manage your risk. I do not have the time to write evaluations for day trading in these markets, but for those who have experience, my analysis should certainly provide some context in terms of levels and expectations. In summary, this market may finally be preparing for a decisive move. Pin bars on large time frames do not appear often, so when they do, they certainly call for attention. The break of 4280 can possibly lead to the selling that I have been writing about for weeks now. I have been doing this long enough to know that eventually the market will line up for the kind of opportunities that are in within the scope of my plan. That does not mean you have to stay flat also. I encourage you to use the levels and other information to gain perspective for shorter time frame trading (if you have the time). The best thing you can do is learn to make your own independent decisions. That is why no matter what is going on, what news is coming out, what other traders are writing about, I stick to my plan and how it relates to the price action. Comments and questions welcome.
BITFINEX:BTCUSD
by MarcPMarkets
6
Daily Pinbar at Structure: time to retrace?Hi guys, as you can see on the left hand side of your screen we're up to a previous level of structure. And in doing so, price has formed a nice pinbar showing buying pressure. When i look at the 4 hr chart then, an engulfing pattern appears following a pinbar, and that gives me reasons to believe we could see a reversal at this point. With a little retracement, i'll go long with stops below the lows, and targets as shown. If you have questions/ideas, please let me know down below. Otherwise, see you in the next chart!
Long
by Roker1
Reversal Pattern at Daily Structure on AUDUSDHi guys, as you can see on the left hand side of your screen we're up to a previous level of structure. And in doing so, price has formed a nice pinbar showing buying pressure. When i look at the 4 hr chart then, an engulfing pattern appears following a pinbar, and that gives me reasons to believe we could see a reversal at this point. With a little retracement, i'll go long with stops below the lows, and targets as shown. If you have questions/ideas, please let me know down below. Otherwise, see you in the next chart!
Long
by Roker1
4
Trend continuation trade on GBPUSDHi guys, this time you see a weekly chart side by side with a 4hr chart. I don't usually use the weekly chart but in this case i want to emphasize why am i looking to buy this up: the higher high higher close beyond previous structure is a very strong sign of the strength of the pound right now against the dollar. Therefore, as soon as i get the opportunity, i will consider to buy the sterlin. And here's the chance on the 4hr chart, a reversal candlestick pattern formed by a pinbar+ engulfing candle AT previous daily and weekly structure. All this add togheter and creates the condition for me to take this trade. With a little retracement, i'll buy with stops below the lows and targets as shown: if we see new highs we could go all the way up to 1,38! If you want to share your ideas/questions, feel free to comment below. Otherwise, see you in the next chart! P.S. Please note this is not an investment advice: this is only the result of my analysis. Be safe!
Long
by Roker1
TCT trade on GBPUSDHi guys, this time you see a weekly chart side by side with a 4hr chart. I don't usually use the weekly chart but in this case i want to emphasize why am i looking to buy this up: the higher high higher close beyond previous structure is a very strong sign of the strength of the pound right now against the dollar. Therefore, as soon as i get the opportunity, i will consider to buy the sterlin. And here's the chance on the 4hr chart, a reversal candlestick pattern formed by a pinbar+ engulfing candle AT previous daily and weekly structure. All this add togheter and creates the condition for me to take this trade. With a little retracement, i'll buy with stops below the lows and targets as shown: if we see new highs we could go all the way up to 1,38! If you want to share your ideas/questions, feel free to comment below. Otherwise, see you in the next chart! P.S. Please note this is not an investment advice: this is only the result of my analysis. Be safe!
Long
by Roker1
2