Pin Bar System

This is a discussion on Pin Bar System within the Trading Journals forums, part of the Reception category; Originally Posted by cristiano Good luck. Liking the simplicity of your thread. thanks Cristiano please feel free to add a ...

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Old Mar 16, 2011, 12:41pm   #31
 
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Re: Pin Bar System

pocrel started this thread
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Originally Posted by cristiano View Post
Good luck. Liking the simplicity of your thread.
thanks Cristiano

please feel free to add a trade if you like the system and you see something

thanks


patrick
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Old Mar 16, 2011, 12:48pm   #32
 
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Re: Pin Bar System

pocrel started this thread oops just missed this on wti crude

cant keep an eye on everything

oil.gif

great R/R again
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Old Mar 16, 2011, 1:01pm   #33
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Re: Pin Bar System

If the next candle doesn't break the pin for entry, do you skip the trade or will you trade it if it breaks the pin 1 or 2 bars later?
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Old Mar 16, 2011, 1:07pm   #34
 
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Re: Pin Bar System

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Originally Posted by brewski1984 View Post
If the next candle doesn't break the pin for entry, do you skip the trade or will you trade it if it breaks the pin 1 or 2 bars later?
thanks for the question brewski, if the next candle does not break either side of the pin then the pin is still valid, the pin is not valid once the top or bottom is broken on the wrong side of the pin

ie if going long and the bottom of the pin is broken then the pin is invalid

for me i if we do not get a break of the pin after 2 bars i would move on and look for a better setup

ideally we are looking for a nice burst out after the formation of the pin, so ideally the next bar should trigger, if the second bar after the pin does not trigger forget about the setup
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Old Mar 16, 2011, 1:14pm   #35
 
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Re: Pin Bar System

pocrel started this thread signal on the s and p

not take due to

1 time, i only trade this on usa open time
2 already in dax trade so to much exposer to index

chart
s-p.gif
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Old Mar 16, 2011, 1:18pm   #36
 
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Re: Pin Bar System

pocrel started this thread closing DAX trade here

coming into support

+38
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Old Mar 16, 2011, 1:19pm   #37
 
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Re: Pin Bar System

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short eur/gbp 8673 stop 8691 target 8650

closing eur/gbp

had enough of it

+6 point on that not great
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Old Mar 16, 2011, 1:24pm   #38
 
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Re: Pin Bar System

pocrel started this thread Good start i think:

total trades :4

total pips: +67 full size
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Old Mar 16, 2011, 2:24pm   #39
 
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Re: Pin Bar System

pocrel started this thread Someone just pm me a few questions so i thought i would post them and the answers here as they may help people with the system:

Questions:
- Do you move your stop to BE at a certain point e.g. a specific pip target, once a certain RR is achieved or when the first opposing SR level is reached etc?
- You say has to be 1:1. Are the targets based on pivots and SR? Or just one or the other
- Does it matter if a setup occurs the second/third/fourth time back to the pivot on the same side? e.g. if price touches a pivot on the same side 3 times without providing a PB, but on the fourth you get one, still valid?
- If you take a PB off a level which gets stopped out, but price duplicates the same setup at the same level on the same side a few hours later, is it still valid?
- Must the close of the PB on the right side of the pivot? e.g. will you take a perfectly formed PB where it's close is a couple pips offside
- Is there a minimum pip requirement for the target?

Answers:

1/ i try never to move my stop, i might take profit at 1 to 1 risk/reward so then the other half is a free trade

2/ targets are always based on the next pivot level so if you take a long trade of DP then r/r is measured by distance to next Pivot Point, now if the pin is much bigger than this distance the trade is invalid and we look for another setup

3/does nt matter how much it touched the PP if a pin bar is formed it is a valid entry

4/if you are stop out and it forms another pin bar then yes the trade is valid(your head might not be

5/ideally both sides of the pin are either on the PP or avove it if going long, below it if going short

6/ yes u can take a perfect pin bar that is just a few pips off on the open

7/no minimum but you want a nice trade i would say over 10 on index at least and i think u will always get more on currencies
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Old Mar 16, 2011, 4:00pm   #40
 
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Re: Pin Bar System

pocrel started this thread short cac40 here
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Old Mar 16, 2011, 4:04pm   #41
 
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Re: Pin Bar System

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short cac40 here

sorry guys that happen so quick


cac.gif


out for +29

damn that was so quick
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Old Mar 16, 2011, 4:09pm   #42
 
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Re: Pin Bar System

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sorry guys that happen so quick


Attachment 106250


out for +29

damn that was so quick

sorry not sure why the other chart is in there

the reason for that huge sell off was :

EU Energy Chief says possible catastrophic events in next hours
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Old Mar 16, 2011, 4:14pm   #43
 
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Re: Pin Bar System

pocrel started this thread just to show you the strength of these Pivot Point levels

take a look were the eurjpy trade i took this morning went to and bounced


eurjpy.gif
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Old Mar 16, 2011, 4:23pm   #44
 
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Re: Pin Bar System

pocrel started this thread i think that will do it for me today

totals :

5 trades

+96 full points

catch you tomorrow any questions please shoot
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Thanks! The following members like this post: DDI , RBurgess
Old Mar 16, 2011, 4:30pm   #45
 
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Re: Pin Bar System

pocrel started this thread Gold is signalling here order to buy break of the top of pin
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