Pin Bar System

This is a discussion on Pin Bar System within the Trading Journals forums, part of the Reception category; Originally Posted by pocrel Alot of people in the room this morning, i would just like to welcome everyone but ...

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Old Sep 1, 2011, 9:31am   #2773
 
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Re: Pin Bar System

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Originally Posted by pocrel View Post
Alot of people in the room this morning, i would just like to welcome everyone but if your expecting alot of quick trades i am afraid it does not work that way, i spend alot of time waiting which is something you must learn to do.

At the moment I am really waiting for a retrace of the dollar index it's way over extend, so to take anything short now would be far to dangerous
here is the chart and why I am so concerned, major support area

usd-index.gif
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Old Sep 1, 2011, 9:37am   #2774
 
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Re: Pin Bar System

Anyone watching EUR/GBP ? - uptrend broken to the downside, pin on the 1hr chart
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Old Sep 1, 2011, 9:39am   #2775
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Re: Pin Bar System

short EUR/GBP at 0.8808 will post charts now
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Old Sep 1, 2011, 9:42am   #2776
 
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Re: Pin Bar System

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Anyone watching EUR/GBP ? - uptrend broken to the downside, pin on the 1hr chart
Morning ffsear, lovely trade on the audjpy yesterday well done hope you made some good money?

as for eurgbp its not for me and the reasons why

8 points into a round number

average daily range nearly reached

coming into a support / supply area so we could get a big bounce

so those 3 things would keep me out
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Old Sep 1, 2011, 9:42am   #2777
Joined Mar 2011
Re: Pin Bar System

Short at 0.8808 stop loss 0.8830 limit just going to let it ride for a bit take half at break even
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Old Sep 1, 2011, 9:43am   #2778
 
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Re: Pin Bar System

Cheers - made 1:1 on the aud/jpy.

Do you have a site that lists ATR for fx pairs?
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Old Sep 1, 2011, 9:48am   #2779
 
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Re: Pin Bar System

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Originally Posted by ffsear View Post
Cheers - made 1:1 on the aud/jpy.

Do you have a site that lists ATR for fx pairs?
No i dont have a site, but my TSR indicator on my screen calculates it all for me

but if you take the daily pivot and count down, eurgbp is down 52 points this morning and for that pair thats big, the average is about 60 for a day so i would be very careful at these levels

have a look at the TSR on the chart

eurgbp.gif
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