Pin Bar System

[mags_g]

NDX 13:30 to 14:00 Pin >>>

 

[brewski1984]

So you mean the signal is valid until either the target or stop is hit?

I haven't read that book yet but I see it's highly recommended by many people, I'm halfway through reminiscenses of a stock operator at the moment but I'll put it on my list.

 

[pocrel]

NDX 13:30 to 14:00 Pin >>>

well done mags good spot and trade on NAS

i just want to highlight the trades for today please feel free to find them for yourseleves and let me know if i am right, now there is alot of discussion about the pin bar but lets say we where not been fussy and we took every signal that looked ok around the LEVELS

RESULTS:

EUR/USD, SHORT +43 POINTS
AUD/USD LONG +23
GBP/USD LONG -17
USD/JPY LONG +35
CAC SHORT -4
NAS SHORT +4

total +64 points

 

[pocrel]

well done mags good spot and trade on NAS

i just want to highlight the trades for today please feel free to find them for yourseleves and let me know if i am right, now there is alot of discussion about the pin bar but lets say we where not been fussy and we took every signal that looked ok around the LEVELS

RESULTS:

EUR/USD, SHORT +43 POINTS
AUD/USD LONG +23
GBP/USD LONG -17
USD/JPY LONG +35
CAC SHORT -4
NAS SHORT +4

total +64 points

actually i missed eur/jpy long +18 but r and r just less than 1 to1

and still 1 trade in play eur/gbp short

 

[megamuel]

Where was the GBP/USD long?

 

[pocrel]

Where was the GBP/USD long?

830 bar this morning

 

[pocrel]

Warning i have not check the auto pivot levels so if some are off then sorry this can happen over broker times

always check before you take a trade with www.livecharts.co.uk before taking a trade

 

[megamuel]

Yeah the body of that bar was below the pivot on mine.

By the way, if pozzy is reading, are you able to test to see if its better to trade at break of pin bar or trade at the start of a new bar without waiting for a break. No worries if you are not interested in the results then it doesn't matter.

Sam.

 

[jwhite8359]

Thanks Patrick once again for sharing.

I'm just taking a watching brief for a while as I get my head around the type of Pins you are prepared to take or prefer to leave. I wouldn't have picked all of those out today but would have picked up some good profits.

Are you back from Buenos Aires yet ? I really love that city.

Can I ask what your day job is, it seems to bring you to some nice places.

Thanks Again
JOHN

 

[pocrel]

Thanks Patrick once again for sharing.

I'm just taking a watching brief for a while as I get my head around the type of Pins you are prepared to take or prefer to leave. I wouldn't have picked all of those out today but would have picked up some good profits.

Are you back from Buenos Aires yet ? I really love that city.

Can I ask what your day job is, it seems to bring you to some nice places.

Thanks Again
JOHN

No John
still in Buenos Aires and just about to go out to relax by the pool its beautiful outside, i work for a major airline so thats what gets me travelling alot

catch you all later i am off to top up the tan :cheesy:

 

[DDI]

taken this oil trade...also a double top and divergence with RSI

 

[advfntrader]

hope you got out as its gone ballistic now. just shows that indicators etc. are worthless when the market is trending strongly

taken this oil trade...also a double top and divergence with RSI

 

[MajorDutch]

taken this oil trade...also a double top and divergence with RSI

i don't see a pin bar on your chart where you entered. i think you were fooled by a long wick however the nose of the candle is almost equally as long.

 

[advfntrader]

heads up! - 1hr Pin short off Golf daily Pivot !!

 

[MajorDutch]

heads up! - 1hr Pin short off Golf daily Pivot !!

its a good pin advfn, if the nose was even shorter would be perfect. I am using pivots from livecharts.co.uk and have got S1 @ 1428.6 going through the wick.

bit late in the day/week to be entering a trade though. good luck

 

[pocrel]

taken this oil trade...also a double top and divergence with RSI

DDI my friend NO TRADE ON OIL

here is my chart, no pin, and its sitting above R1

 

[pocrel]

heads up! - 1hr Pin short off Golf daily Pivot !!

thanks for the calls advfntrader but can you keep the calls to the 30min charts otherwise people will be looking all over the place for trades and this method has not been backtested or forward tested on the hourly time frame, not saying its does nt work but lets just keep it to the 30min for now, let people get a feel for that

cheers

patrick

 

[DDI]

i don't see a pin bar on your chart where you entered. i think you were fooled by a long wick however the nose of the candle is almost equally as long.

DDI my friend NO TRADE ON OIL

here is my chart, no pin, and its sitting above R1

ouch!..and I paid for it! I see R1 of my broker is different than livecharts (usually its the same, I forgot to check today!). However I thought that was a pin. The way I understand a pin is a bar/candle where the body (distance from open to close) is less than a third of the whole bar/candle..ie. a hammer/shooting star/doji/spinning top.

 

[mags_g]

GBP/USD 07:30 to 08:00 Pin >>>

 

[pocrel]

morning all line are drawn lets hope we get a good day, i have missed that gbpusd mags hope you got an entry ?