Pin Bar System

Should Pocrel trade the "pin bar system" live again


  • Total voters
    24
  • Poll closed .
short cac40 here


sorry guys that happen so quick


cac.gif


out for +29

damn that was so quick
 

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  • euraud.gif
    euraud.gif
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just to show you the strength of these Pivot Point levels

take a look were the eurjpy trade i took this morning went to and bounced


eurjpy.gif
 
Gold is signalling here order to buy break of the top of pin


chart
gold.gif

i am not taking this trade as i am done for the day but this is a great example of a pin bar
good luck if anyone takes it or if not keep an eye on it
 
Hi Pocrel,

Wouldnt gold be a buy based on your system? Attaching 30 min. (btw I still dont know the meaning of PIN bar but have feeling its similar to hammer and morning/evening stars on candlesticks)

Also on 10 and 15 min TF you will see bullish divergence as well (stochs, RSI)
 

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  • Daily Spot Gold (16-MAR-11).png
    Daily Spot Gold (16-MAR-11).png
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Hi Pocrel,

Wouldnt gold be a buy based on your system? Attaching 30 min. (btw I still dont know the meaning of PIN bar but have feeling its similar to hammer and morning/evening stars on candlesticks)

Also on 10 and 15 min TF you will see bullish divergence as well (stochs, RSI)

hey bud, i just got the chart in before you well spotted i think you are use to my system bud

i will leave it as i am finished for the day but a great signal

how are you doing today??
 
hey bud, i just got the chart in before you well spotted i think you are use to my system bud

i will leave it as i am finished for the day but a great signal

how are you doing today??
hehe yes we were posting them at the same time.

I had an ok day. 2 trades (-15 and + 49) posted on live trades. but lost on oil (which was a shame as I was contemplating taking +50) just before the EU energy chief spoke, but reversed and came out with -30. (but cant complain as the +49 came from same spike as oil loss)
 
cheers for the support redart for the compliment ;)

not a bad day DDI for you so, oil has been so volatile, i missed an entry on it but it would have been a breakeven trade for me

better luck tomorrow, i think becareful this afternoon as if this reactor blows anything could happen

cheers for dropping in guys
 
well just got back in and see the GOLD trade never worked, i just want to go into a bit about position sizing
basically with a big pin like this you should only be in the max risk you are willing to use on any one trade, for me its normally 1 to 3% of my account size so no matter how big the pin was i would only risking that so position sizing is key, please bear this in mind when taking a trade
 
i just want to show this aud/usd chart as an example of what someone would not classify as a pin bar but to me it is a good enough bar to take a short entry on this trade

View attachment 106226

1/ the bar slices the daily pivot
2/ strong close of the bar
3/ close is below the open

not a pin bar by definition but just a personal judgement bar

here is the completion of the aud/usd trade we never took but a great exmple today
aud.gif
 
euro short flagged

forget it sorry us market closes now
 
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morning all, morning prep is done so i am looking for setups, lets hope we get a good day today, looks like the markets went a bit wild over night again
 
Gold short flagged:

1395.5 stop 1399.0 target 1390.8

if we fail to get an entry after this next 30 min bar close then i will cancel the short order


chart
gold.gif
 
i think i am going to have a little early warning system,

i will just say: TRADE FLAGGED and then the instrument short or long

and then fill in the details of stop, target and chart




selves
 
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