5m Pinbarring

M

martinm2

Junior member

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• Mar 24, 2011

• #1

Demo'ing for the next week 5min pinbar trading.

Incorporating Divergence also.

Using RSI 14.

Pinbars must be A or A+ bars.

There must be B or A level divergence for trade.

Trading main forex and DOW/FTSE/DAX

SL set 2pips above top of pin.

If trade positive, trade SL down. Limit set at 20pips, never more even if things look perfect (Greed is a sin)

 

M

martinm2

Junior member

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• Mar 24, 2011

• #2

perfect pin at 13.15 on the EUR/USD

Missed the trade though as was watching 1pm news.

Perfect pin though.

 

M

martinm2

Junior member

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• Mar 24, 2011

• #3

traded a pinbar EUR/AUD at 1.50, still in play but not shorting that much. played it back to a zero play though.

Earlier trade earned 8pts.

 

Hotch

Experienced member

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• Mar 24, 2011

• #4

Check out the Jakone thread on forexfactory if it's not where you got this from

 

M

martinm2

Junior member

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• Mar 24, 2011

• #5

Aussie dollar being bullishing backed.

Waiting for turning pin in next hours.

 

M

martinm2

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• Mar 24, 2011

• #6

buy AUD/USD, perfect pint, entered a wee bit late but looks good for continued momentum.

 

M

martinm2

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• Mar 24, 2011

• #7

martinm2 said:

buy AUD/USD, perfect pint, entered a wee bit late but looks good for continued momentum.

Click to expand...

Got out of that trade at evens, move had lost momentum, fine pin. But AUD reaching new highs so that could be it.

 

neil

Legendary member

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• Mar 24, 2011

• #8

Hotch said:

Check out the Jakone thread on forexfactory if it's not where you got this from

Click to expand...

This is the thread from which the OP probably got this method

http://www.forexfactory.com/showthread.php?t=163972