Pin Bars on the Weekly charts of Equities

This is a discussion on Pin Bars on the Weekly charts of Equities within the Trading Journals forums, part of the Reception category; And one other trade I am entering short: KR, nice retest of a s/r flip, and the pin bar also ...

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Old Nov 6, 2016, 11:36am   #16
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1RISH started this thread And one other trade I am entering short: KR, nice retest of a s/r flip, and the pin bar also coincides with a false breakout of multiple inside bars. Target is 29.02, stop loss is 32.50. Entry will be on the bid at 30.92 (will only assume entry if we trade 30.93).
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Old Nov 10, 2016, 2:04am   #17
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1RISH started this thread Ouch! -1.36R overall after the election!

Last edited by 1RISH; Nov 10, 2016 at 2:11am.
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Old Nov 10, 2016, 10:58pm   #18
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1RISH started this thread Stopped out on the second of these trades .

-2.36R

3 trades,3 losses 👍
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Old Nov 14, 2016, 12:05am   #19
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1RISH started this thread Was away in Reykjavik this weekend so I'll have a look at charts tomorrow and see if anything has setup for a later entry
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Old Nov 19, 2016, 10:22am   #20
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Only one for you this weekend (weekly / 5 day scan) GPN
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Old Nov 20, 2016, 11:18am   #21
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1RISH started this thread
Quote:
Originally Posted by Cigar View Post
Only one for you this weekend (weekly / 5 day scan) GPN
Thanks Cigar.


Taking one setup: Long NBD (buy@ market price on monday open).

Nice protruding pin bar, well formed with confluence, and with plenty of space to run.

Stop loss is 19.95, target is 21.50. I will watch and adjust according to how price reacts to the trouble areas shown.
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Old Nov 28, 2016, 12:01am   #22
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1RISH started this thread Closing nbd for a breakeven , price tested and closed below the trouble areas shown . No setups this week, very busy with exams lol
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Old Dec 4, 2016, 5:57pm   #23
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1RISH started this thread Entering a short on SCMP, entry at market price, stop loss 17.17, target is 12.10



Entry at 15.42
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Last edited by 1RISH; Dec 5, 2016 at 3:37pm.
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Old Dec 8, 2016, 5:53pm   #24
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1RISH started this thread Scmp is taking off nicely
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Old Dec 11, 2016, 6:43pm   #25
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1RISH started this thread Closed SCMP for a 10 cent loss, wasn't behaving as planned.

4 trades: 3 losses, 1 breakeven.

-2.5R

Entering two shorts on AKS and HDTL: AKS formed a good tailed pin bar (the body and close could have been better, but the resistance level which was broken was a massive pivot which goes back 20 years).

HDTL formed a nice bearish hammer (almost a pin bar, closer to an engulfish bar), off resistance.

Target for AKS is the gap fill at 7.60, entry at market and stop loss 11.40.
HDTL entry at market, stop loss 22.47, target 20.10.
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Old Dec 14, 2016, 5:08pm   #26
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1RISH started this thread After some discussion with a trader who is teaching/mentoring me, we have decided it's now time to add a few more tools to my trading toolbox, which i've been researching and testing plenty.

From now on I will be using MACD as a divergence indicator, and will also be adding bearish and bullish engulfing bars to my setups.

Performance so far has been worse than expected, though by no means is 4 trades a large enough sample size. I am confident after a year's trades the positive expectancy should begin to reveal itself. I look forward to implementing these new tools.

Last edited by 1RISH; Dec 14, 2016 at 5:24pm.
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Old Dec 14, 2016, 6:59pm   #27
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1RISH started this thread As an example of how I plan to use outside bars with the Macd: see ANW which I am hoping closes good this Friday, cracking setup IMO.
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Old Dec 16, 2016, 3:50pm   #28
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1RISH started this thread Trailing Stop to Breakeven on HTLD, almost hitting my +1.3R target
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Old Dec 16, 2016, 10:02pm   #29
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1RISH started this thread Placing a sell limit order on ANW, entry at 10.20: Bearish outside bar which closed under a swing high, coupled with MACD divergence. Stop loss 11.70 (150 cents). Target 8.60 (160 cents).

For AKS, I am closing the trade given price tested a recent gap fill which acted as support (note to self, gaps should be treated as s/r), for a small -45 cent loss (-0.35R)

- 2.85R overall so far
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Old Dec 19, 2016, 7:24pm   #30
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Originally Posted by 1RISH View Post
Placing a sell limit order on ANW, entry at 10.20: Bearish outside bar which closed under a swing high, coupled with MACD divergence. Stop loss 11.70 (150 cents). Target 8.60 (160 cents).

For AKS, I am closing the trade given price tested a recent gap fill which acted as support (note to self, gaps should be treated as s/r), for a small -45 cent loss (-0.35R)

- 2.85R overall so far
Correction , my sell entry for ANW is 10.50 not 10.20
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