taking PA of the mean.

[kat888]

so how do I define if PA is close enough to Be valid or not?

 

[joffie]

so how do I define if PA is close enough to Be valid or not?

For me the zones for looking for any PA signals are where highlighted and I wouldn't want to take those signals your showing

https://www.mql5.com/en/charts/3379010/sgdjpy-d1-international-capital-markets

https://www.mql5.com/en/charts/3379016/chfjpy-d1-international-capital-markets

joffie

 

[TheForexGuy]

It looks like you're buying on top of a rally, which may work out - but generally and ideally you want to take buy signals that form after retracements and create a new swing low.

 

[kat888]

I set 50% retracement entry, Dale...

 

[kat888]

It looks like you're buying on top of a rally, which may work out - but generally and ideally you want to take buy signals that form after retracements and create a new swing low.

check this support pls..

 

[TheForexGuy]

I did already see that chart. My answer above applies to this chart also.

 

[kat888]

I did already see that chart. My answer above applies to this chart also.

i dont get it?????? isnt this large rejection bar a retracement that creates a new swing????

 

[TheForexGuy]

It didn't form off a swing level, so it makes it a riskier trade to take. The market needs to retrace a bit more after such a strong move up before you're in a better position to buy. You don't want to 'buy at the top of a rally' so to speak.

 

[kat888]

It didn't form off a swing level, so it makes it a riskier trade to take. The market needs to retrace a bit more after such a strong move up before you're in a better position to buy. You don't want to 'buy at the top of a rally' so to speak.

i still dont get it.....SO WHATS THE SWING LEVEL HERE THEN??????
i placed the green line as i found IT as the closest swing level plus it interacts with the mean so it must be a strong area to move from.

 

[TheForexGuy]

Swing level... Old resistance acting as new support and vice versa

 

[kat888]

Swing level... Old resistance acting as new support and vice versa

thats exactly what the green line is on my chart. it used to be a resistance/swing in down movement and now its a nearest support since the move has reversed.

 

[exterior]

But there is no swing down. You have an upward movement and within this movement a bullish pinbar appears. But there isn't really a swing downwards, the move ist straight up. In my opinion, fo a swing down you would need a really visible move downwards, than finding support and turning back upward. A single pinbar isn't a swing, it's just a wild pinbar. It may be a swing on a lower timeframe but for this chart, it isn't.
a swing would create an obvious zig zag pattern. Your chart forms a straight line, no zig zag.