Pin Bar System

[pocrel]

short now 3979.5 stop 3988

half off now +9

 

[geewcee]

Nice clean short trade from the 10:30 bar on GBP/USD. In/out for +10pips.

 

[DDI]

out of cable for +17 pips.

 

[DDI]

damn i missed cac..what a set up - 2 bearish bars...great R:R. well done to those that took it.

 

[pocrel]

half off now +9

second half off +18

total: +13.5 full points

chart


what a great move :cheesy:

 

[pocrel]

well done on the cable whoever took it it was so boarder line if i had not checked livecharts i would be rolling in it this morning

 

[DDI]

cac was a great set up..has 2 consecutive bearish candles and a steep divergence with stochs. (I have been burn with divergences in general but I do find the steeper ones have a better chance)

 

[pocrel]

for anyone who stayed in that cable trade well done:

chart

 

[geewcee]

Ended up being a great trade on cable, shame I chickened out early.

 

[pocrel]

Ended up being a great trade on cable, shame I chickened out early.

you still banked some points so dont be to hard on yourself, takes time to develop the nerve to hold out but you must do this or else you wont be profitable over the longterm

as for the range cable is moving in this can change over time and best to keep an eye on what it did on the over night range and previous week and even day, it was close to its average 10 day range, this is only a guide and cable could as you say go on for another 150 points and if its does good for cable but i want low risk entries and if there is a chance of a reversal like what just haappened then i would prefer to be in that move.

 

[advfntrader]

cable now forming long off R1

 

[DDI]

yeah cable moved down a lot more...but one cant tell. exits are hardest part of trading.. for eg the s&p trade yesterday afternoon - I took it and lost as I didnt exit in time, pocrel did well on it with his exit. but that trade did not even reach 1:1.

so sometimes its just better to think in cash terms when dealing with exits.

 

[geewcee]

yeah cable moved down a lot more...but one cant tell. exits are hardest part of trading.. for eg the s&p trade yesterday afternoon - I took it and lost as I didnt exit in time, pocrel did well on it with his exit. but that trade did not even reach 1:1.

so sometimes its just better to think in cash terms when dealing with exits.

Thanks for the advice DDI, glad to see that I'm not the only one struggling with exits.

 

[geewcee]

cable now forming long off R1

bar too bearish?

 

[advfntrader]

scrub that ! - R1 cracked - just shows why you need to wait for candle to CLOSE

 

[DDI]

Thanks for the advice DDI, glad to see that I'm not the only one struggling with exits.

mate we will win the lottery before we end our struggle with exits in trading - trust me!

Its part of the game - win or lose, one feels frustrated!

 

[DDI]

gold and aud looking interesting - 3 min to go though

 

[DDI]

unfortunately they both fell too much in the last 2 min and non of them resemble a pin. and bad R:R in gold's case

 

[pocrel]

going to have some lunch and have a run, be back for the US open

 

[DDI]

going to have some lunch and have a run, be back for the US open

you better not have a heavy lunch then