Pin Bar System

[pocrel]

half off +8 on cac

taking my other half off +8 on cac40

so + 8 full points

summary of the day:

3 trades

+7 full points


sorry but the s and p made me the points so i am done for the day folks

here is the chart i got an entry on the retrace of the pin

s and p

 

[brewski1984]

When you say retrace of the pin, do you mean the pin broke but price went back inside the pin and you took an entry from there? In other words, even though price fell back again, because the pin broke earlier the trade is still valid? I don't mean to sound stupid just wanted some clarification.

 

[MajorDutch]

There were a couple of nice trades on the S&P this evening see chart attached.

 

[pocrel]

morning, lines drawn watching for setups from 830

 

[pocrel]

BRENT, such a close call this morning regretting it already

chart

 

[pocrel]

BRENT, such a close call this morning regretting it already

chart
View attachment 110026

Just wanted to talk about position sizing, with brent i would have only put on half a position due to the size of the stop this is key to been profitable in this game, you really need to workout how much you willing to risk on anyone trade, i recommend between 1 to 3 % max of your account

and this helps answer a question yesterday also, you could wait for the pin to be broken and then buy on a retrace of the pin, the pin has to be broken then price reverses down the pin and you get a lower risk entry, your stop is tighter and you will get a better risk/reward. The only problem is you may not get the reversal and miss the trade, sometimes price is so close to the entry on the next bar you miss the entry and all you can do is hope price reverses a little so you can better entry.

 

[pocrel]

trade alert : cac long watching

 

[pocrel]

long at 3988.2 stop 3981.8

 

[pocrel]

long at 3988.2 stop 3981.8

chart

 

[pocrel]

chart
View attachment 110032

half off +6.5

 

[pocrel]

Cable,

not taking trade beacuse

1/ daily range nearly made so not much room to move up
2/ indicator not looking great

chart

 

[geewcee]

Cable,

not taking trade beacuse

1/ daily range nearly made so not much room to move up

Good commentary. Are you talking about the fact that its at R2 already?
I thought cable averages around 250 pips a day? Or do you mean its already moved its average for the London session?
Sorry, new at this so I might be asking too many questions!

 

[pocrel]

half off +6.5

stopped out for -6.5 on other half

so 0 full points for cac trade

 

[pocrel]

trade alert: cable short now

 

[pocrel]

trade alert: cable short now

sorry actually going to cancel the trade due to my auto pivots slightly off

so out of cable -2

 

[advfntrader]

cable short pin right through body of hammer on my charts. Long pin was ideal though

 

[pocrel]

sorry actually going to cancel the trade due to my auto pivots slightly off

so out of cable -2

here is the chart with my auto pivot level


which is where i took the trade, when its this close i usually always check livecharts, this time i did nt and only checked after entry

here is where its is on live charts


few pips in it but its just not right for me now, sorry i am very picky

sorry charts are wrong way around

 

[pocrel]

trade alert cac40 short on break down of pin

 

[DDI]

I did take the cable trade off my pivots (as as your autopivots). Based on my limited experience I pay more attention to the bar than the pivot (I look at that as levels as opposed to a specific point)...lets hope I dont pay for it!

 

[pocrel]

trade alert cac40 short on break down of pin

short now 3979.5 stop 3988