Best Thread Potential setups

[Nordtrader]

1 hr bearish pin just printed on EURUSD - not yet triggered. I am not trading this because:
1. I think it might be tested to the upside as the resistance area on 9 June was slightly higher - around 1.5840
2. NY traders just coming into the arena for the morning - let's see what affect they have first.
If market goes back to 1.5840 area would be tempted to short as the could be solid resistance here.
NT

 

[superspurs]

r2r,on the daily us/yen chart,a few days ago you had back to back pins in a good area of good support which are still in play,you would have been trading against these and against the trend,imo

 

[superspurs]

btw,i do trade against the trend but on weekly TF.if trading 1hr or 4hr TF i would say its better to go with trend

 

[omni]

Hi all,

Maybe the more experienced pinbar traders can help me out.

the attached chart shows an hourly pinbar yesterday for usd/jpy.

1. Was this a valid pinbar despite being stopped out?

2. If it was a valid pinbar, would you have reattempted a short after being stopped out?

Cheers,

R2R

Hey R2R,
I think that 1hr pin formation is fine (in terms of body, head, bla bla bla)
The problem (as i see it) is that you shouldnt have had your stop so close. The high of the pin was 41 (on my chart) and then 3 bars later it went to 42..... i wouldnt have had my stop at 42. A little room for the odd erand trade is required because s/b will fil you and cut you out of the position if they can. They have the order in the market ready to fill you! So either stop by visual or alert function OR let there be a bit of room. Some might disagree but in my experience, markets CAN trade "to the pip"..... but only 5% of the time. In my early days. I put my stop a pip or 2 above the level, or the bar, etc etc and time and time again i wondered why i kept getting taken out by the highs. Get with the smart money, give the trade some room and let it ride. People out there hunt for the stops, and for good reason, you have to open another trade, trading = broker comm,.
Laters,.
ps. i would also get off the 1hr timeframes...........
pps. this all leads on from the good chat from grim...... smart money, volume and reading between the bars

 

[Yokiro]

As for me, I don't usually look for pinbars on h1 or h4 or less than a day time-frames. For my style of trading, on a time frame less than a day it tends to be a false signal. For me, pin bars formed on a daily basis are more secure and are VERY profitable (can you say 300-500 pips?)

 

[trader_dante]

I took the Pound long on the break of the inside bar beneath the descending TL.

 

[Yokiro]

Very nice trade there dante! Do you have trades like this one often?

 

[trader_dante]

Very nice trade there dante! Do you have trades like this one often?

Yes, the majority of my trades move as much as this although usually not as quickly. I often have to sit through a bit of back and fill.

 

[Yokiro]

Awesome! I have trades like these but on D1 time-frames. What is the average of profitable trades you get from this strategy?

 

[superspurs]

not much potential left in that td, good trade,i got filled long gold this am on the breakout

 

[jonj]

super.it seems to me trading stocks gives you s big advantage with the addition of volume,do you find it helps a lot in your decision making??

i have the volume on my charts,but to be honest i don,t know how to interpret it just yet.it is there in case of a volume spike that might grab my attention at a s/r level.

check the volume on the BHP Bilton chart regarding what grim has wrote,all the volume bars are lower on the red bars(sell days) than the green bars even though the price is /was falling.
far from an expert myself as i dont look at stocks but if i did i would be sooner or later.It can be a window into the market if you learn well imo.

p.s. TD,i just pointed out the ib ob triggers so you could give us your thoughts on them??

 

[jonj]

just an update on gold,did anyone get on this??
dont you just hate day jobs!!!should be illegal!!

 

[superspurs]

just an update on gold,did anyone get on this??
dont you just hate day jobs!!!should be illegal!!

 

[superspurs]

check the volume on the BHP Bilton chart regarding what grim has wrote,all the volume bars are lower on the red bars(sell days) than the green bars even though the price is /was falling.
far from an expert myself as i dont look at stocks but if i did i would be sooner or later.It can be a window into the market if you learn well imo.

over the w/e i shall be looking at some old charts see if i can find any repetitive action leading up to turning points

 

[Arf]

just an update on gold,did anyone get on this??
dont you just hate day jobs!!!should be illegal!!

I'm a cheapscape, I went for silver instead

 

[jonj]

Hi all,

Maybe the more experienced pinbar traders can help me out.

the attached chart shows an hourly pinbar yesterday for usd/jpy.

1. Was this a valid pinbar despite being stopped out?

2. If it was a valid pinbar, would you have reattempted a short after being stopped out?

Cheers,

R2R

far from the expert here but this is my take on your pin bar,

 

[jonj]

I took the Pound long on the break of the inside bar beneath the descending TL.

well done T_D,if you keep reading this thread we will teach you some more good setups!!!lol
glad you have been listening

 

[jonj]

I'm a cheapscape, I went for silver instead

lol
hadnt looked at silver

 

[skelly22]

NIce pin on Oil H4, with 29min to go.

However not sure its a good time to enter a trade at this hour on a friday evening? Any thoughts on this ?

Shane

http://www.trade2win.com/boards/picture.php?albumid=9&pictureid=50

 

[rider5]

Ib

Hi TD and all,

Very nice ib trade on pound. I have a question though.

As a newbie still mostly focusing on PB's, inside bars are a little tricky to me. How did you know pound was going up when that ib was underneath a descending tl? With my limited knowledge I would have thought it would be going down, thus adhering to the trend line.

Any advice shall be greatly appreciated. Hope you all have a great weekend.