Minsk T20 - Banana D1

[Minsk]

 2 PO's got triggered. EUR-NZD and NZD-CHF


EUR-NZD short
Banana Flowchart question:

Is there a signal?
yes, a Banana #1

Is there a breakout or a trend?
Trend down

Is there a correct Banana pattern?
TTTP

Is the range of signal candle correct (1xATR)?
yes is ok. ATR is 220, signal is 130.20 pips

Is entry clear of levels to left?
yes, clear of levels. It's the first pullback in this downtrend, fresh cross of AO.

Update: SL got hit -1R

4-11-2022 EUR-NZD D1.JPG

 
NZD-CHF Long
Banana Flowchart question:

Is there a signal?
yes, a Banana #1

Is there a breakout or a trend?
Trending up

Is there a correct Banana pattern?
this is not the most beautiful pattern TTRTRRP

Is the range of signal candle correct (1xATR)?
yes is ok. ATR is 74, signal is 41.6 pips

Is entry clear of levels to left?
yes, clear of levels. It's the second pullbackpause in this uptrend, with fresh cross of AO.

Update: SL got hit -1R

4-11-2022 NZD-CHF D1.JPG

 
 
 
 
 

[Minsk]

Nice one. The only issue i can see with NZDCHF is entry was close to previous support level which may act as a resistance and there is a high chance price will bounce off from that. Generally i would check distance of next level if it's 2R from your entry then go for it as you have an option to accept BE if price bounced off or reversed from that point.
 
Also candle before signal bar was pinbar so might be doubtful. you want to take signal after nice trend bars with small pullbacks. 

PS. you won't need AO indicator if you are trading D1. Generally MA cross-over is AO change if you do some testing. 
 

 

thanks Sam, for your comments. I did consider the pinbar, thought it wouldn't be a big issue. I did not think of the S/R level you point out, that combined with the pinbar... hmm, not so nice indeed.  I hope it turns out OK.
 

[immy]

Nice one. The only issue i can see with NZDCHF is entry was close to previous support level which may act as a resistance and there is a high chance price will bounce off from that. Generally i would check distance of next level if it's 2R from your entry then go for it as you have an option to accept BE if price bounced off or reversed from that point.
 
Also candle before signal bar was pinbar so might be doubtful. you want to take signal after nice trend bars with small pullbacks. 

PS. you won't need AO indicator if you are trading D1. Generally MA cross-over is AO change if you do some testing. 
 




 

Agreed with Sam. here is my take 
ps: Stick to main pairs and crosses. NZDCHF (I have never looked at this pair in my life) 
pps; this trade you've taken shows the lack ofy our understanding of Context as well as the Banana Pattern 
 ppps: I have included a good mix of pairs and markets for you. 
 
 

[Minsk]

Nice one. The only issue i can see with NZDCHF is entry was close to previous support level which may act as a resistance and there is a high chance price will bounce off from that. Generally i would check distance of next level if it's 2R from your entry then go for it as you have an option to accept BE if price bounced off or reversed from that point.
 
Also candle before signal bar was pinbar so might be doubtful. you want to take signal after nice trend bars with small pullbacks. 

PS. you won't need AO indicator if you are trading D1. Generally MA cross-over is AO change if you do some testing. 
 






 

Agreed with Sam. here is my take 
ps: Stick to main pairs and crosses. NZDCHF (I have never looked at this pair in my life) 
pps; this trade you've taken shows the lack ofy our understanding of Context as well as the Banana Pattern 
 ppps: I have included a good mix of pairs and markets for you. 
 
 


 

thx Immy, yes you are right. Only take really good setups, these are worth waiting for, and I'll stick to the pairs you suggested.
will I ever understand and learn....