Pin Bar System

[pocrel]

morning again in the afternoon here in london, going to try and get a few trades on this afternoon dont know how long i will last as someone on here said the heat in london is great at the moment and i think a nice glass on vino in the garden is a nicer prospect than looking at charts

a quick winner would be nice, still need to draw my line so please flag any trades if you see them

thanks

patrick

 

[Howlinwolf]

Hi, I wouldnt call myself experienced but I think the bar you took was quite bearish, as close was both below open and quite a distance from the bars high..but it worjed

The 8:00-830 bar would qualify as a more valid entry.

Thanks for your help DDI, I'm still working through all the posts since the beginning. So if the candle had been green ( for a long trade) with a better Pinbar shape it would have been an entry signal in your eyes?

 

[klw]

" Thanks for your help DDI, I'm still working through all the posts since the beginning. So if the candle had been green ( for a long trade) with a better Pinbar shape it would have been an entry signal in your eyes? "

Your best bet Howlinwolf is to look at Pocrel's charts that he has posted.The signal bars all have a common theme.If you click on the paper clip,top right at the end of the page numbers,there you will see all the charts that have been posted in this thread and you'll soon see which are Pocrel's. Also have a look to see which were successful and which failed and if you find anything please let us know. lol

Good luck.

 

[Howlinwolf]

" Thanks for your help DDI, I'm still working through all the posts since the beginning. So if the candle had been green ( for a long trade) with a better Pinbar shape it would have been an entry signal in your eyes? "

Your best bet Howlinwolf is to look at Pocrel's charts that he has posted.The signal bars all have a common theme.If you click on the paper clip,top right at the end of the page numbers,there you will see all the charts that have been posted in this thread and you'll soon see which are Pocrel's. Also have a look to see which were successful and which failed and if you find anything please let us know. lol

Good luck.

Thanks for the tip Klw, I didn't know that was what the paperclip was for!

 

[pocrel]

there is a trade there:

eur/jpy long, but its a bit late in the day for me to trade currencies, i dont trade them after the london close at 4pm

but here is the chart if anyone is interested in the set up

 

[pocrel]

ok i am out of here cant find anything really to trade, eur/jpy looks like its going well if you took it

totals for the week :

trades 2

+6.5 full points

work got in the way this week and i am off to spain tomorrow for the hols so will catch everyone the week after

happy easter everyone

 

[geewcee]

Enjoy your well deserved holiday Pocrel.
3 out of 3 trades today all winners for me, cheers!

 

[pocrel]

Enjoy your well deserved holiday Pocrel.
3 out of 3 trades today all winners for me, cheers!

well done geewcee

i never saw a chart or an alert ?? keeping all those lovely points to yourself not very nice of you

 

[geewcee]

Pocrel, guilty as charged
I've been sneaking these trades in between work so havent had time to post charts. Promise I will next week to keep the thread going whilst youre sunning yourself

 

[MajorDutch]

Hi

Here is a review of today's session I am only trading 0800 - 1700 London time not trading Silver or EURGBP. I am trading 1 unit to 1:1 target and 1 unit to the next pivot - 2 trades per set up. All pivots livecharts.co.uk. For some reason gold pivot points have not been correct for the last 2 days on livecharts.co.uk, anyone else see this?

EURUSD long 08.00. Both trades stopped out.

EURJPY long 13.00. 1st trade hit target. 2nd trade still in play. currently looking good

S&P500 long 16.00. Both trades still in play. currently looking like a stop out but you never know.

See charts below.

I prefer to trade 'units' as opposed to pips/points. This helps me control risk. For example 20 pips on WTI means something totally different to 20 pips on USDJPY. I am gearing my trades so each trade has the same monetary value for a 1:1 trade. I am also keeping records of pivot position within pin bar and overall trend/range to see if I can pick out any patterns when I have more data.

 

[MajorDutch]

update on yesterday's trade.

EURJPY long 13.00. 1st trade hit target. 2nd trade still in play.

price reached next pivot. so both trades hit target.

 

[isatrader]

Was this a valid setup on gold under pocrels method?

 

[Mata Nui]

Was this a valid setup on gold under pocrels method?

On my charts the bar looked a lot larger and my auto pivots must be a bit off today, the pin didnt breach the pivot. For me given the size of the bar and the spread on Gold the r:r (or just the risk really) put me off taking it.

I guess Pocrel would have taken it though.

 

[isatrader]

On my charts the bar looked a lot larger and my auto pivots must be a bit off today, the pin didnt breach the pivot. For me given the size of the bar and the spread on Gold the r:r (or just the risk really) put me off taking it.

I guess Pocrel would have taken it though.

I had the live charts S2 pivot as 1,493.2 and the low on my ADVFN feed got to 1,492.9 and on Finspreads it got down to 1492.4 so I thought it was valid although my main concern was the length of the pin bar as the top was close to the main pivot, so I wasn't sure about it?

 

[Mata Nui]

I had the live charts S2 pivot as 1,493.2 and the low on my ADVFN feed got to 1,492.9 and on Finspreads it got down to 1492.4 so I thought it was valid although my main concern was the length of the pin bar as the top was close to the main pivot, so I wasn't sure about it?

Yep, as i said the r:r wasnt good. What i didnt notice when i did my last post was the other pivot because the price line obscured it. Now i can see clearly on my chart the pin is about 98% of the range between the pivots so either way you look at it there is no trade. Your charts look a bit more inviting but given the poor r:r i wouldnt have gone for it.

 

[isatrader]

thanks for the feedback

 

[DDI]

yup the r:r wasnt good. think its prudent to not trade with this method today as the daily pivots are from yesterday which was a low volume day.(london closed).

perhaps only wti, dow and s&p are worth watching

 

[geewcee]

Isa, I didnt take that gold trade either. Todays been very slow but like DDI says I reckon tomorrow will be a better trading day.

 

[clissold345]

Is anyone trading today? The pin that closed at 0800 BST on gold is a buy according to my worldspread charts.

 

[Howlinwolf]

Is anyone trading today? The pin that closed at 0800 BST on gold is a buy according to my worldspread charts.

Missed that one, my Smartlive charts/Livechart pivots give a valid signal too