Price Action Day Trading | Johnathon Fox | Forex School Online
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Hi there, is this consider counter trend trade?
Hi johnathon, I trade the ES, I'm in Australia. Can the setups and price action you teach be applied to futures also. Thanks for your time, merry Christmas.
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Hi Jonathon,
Thanks for clarifying, that's good to know. How do you calculate your buffer ?does it float depending on volatility. Rgds Mitch
Hello Mitchell,
we use buffers to enter so we don't get entered prematurely. So for example on the daily I had a 6 pip buffer from where the low of the pin is to where I put my entry. You will often see price just by a pip or two break one way before going the other and using this buffer cuts that out.
Safe trading,
Johnathon
Hi Jonathon,
Firstly I follow all of your videos, and I must say they have vastly improved my trading this year - so thanks very much. I took the trade in question but was entered on the 2nd candle (after the pin bar) - I am interested as you say above that the Pin bar low wasn't taken out until day three, my charts (FXPRO) show the Pin bar low of 1.6241, and day 2's candle low as 1.6237 - I place all my trades following the NY close each night in the UK. Have a great new year. Mitch
You should not have been nervous because you should not have been entered into the Pin bar until the low was taken out which did not happen until the third candle. The Pin Bar pattern is not confirmed until the high or low has been taken out and in this case you should not have entered this trade until the 3rd candle which means you would not have experienced any of that draw-down period.
Johnathon
well played... though i was nervous when it went up but i put the stop loss at the high of the pinbar + spread -_- it went down now... it seems bouncing and bouncing up and down :C