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1 Attachment(s) Hello! Can anyone tell me exactly what are the characteristics of a 2 bar pin bar? I mean for example in this image, (sorry about it i dont know much about paint), do the 2nd and 3rd bar form a bearish 2 bar pin? What if the HIGH of the 3rd bar was higher than the high of the 2nd bar would that be considered a 2 bar pin? Thank you! |
Hi all waited all week for trade on dailies but nothing doin so hope for better stuff next wk. Good weekend to you all uguys |
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The characteristics would be as follows Take the highest high of both bars Take the lowest low of both bars Take the open from the first bar Take the close from the second bar If those combined make a pinbar, then you are good to go. Another thing to watch is that you then combine the previous two bars(at least in my opinion since we are aggregating the data different) Here are some examples Best Mike |
1 Attachment(s) Hi, Hope everyone is having a good weekend. This chart looks fairly interesting. Is anyone else watching? Small weekly pb, Major sup, BRN, fta 0290 or thereabouts? Would be a little nervous buying the pound against nzd. |
1 Attachment(s) I took the liberty to point out what i think are other 2 bar pin bars until the first arrow u drew. So do they all meet the criteria? Ty! |
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iv put my personal thoughts on the chart... hope this helps jon |
Thank you gj hook, good point, i hadn't taken the strong move down into consideration, appreciate your comments, will stay out of this one but watch to see what happens out of interest. Your chart makes things clearer too. It would also be buying straight into all that traffic with not much space. |
Thoughts? 2 Attachment(s) Divergence signal. Pin Bar, however in a congested area but testing daily resistance .979. Premature Triangle breakout signal. All combined within mild confluence. I might be completely wrong. Be critical as a baby is to it's mama..... |
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Hey Bi I am no expert but the two things that struck me immediately in your post werw 'congested area' and 'mild confluence'. This would suggest that it is not a high probability trade although that does not mean that the trade will not work out! However although easier said than done we want to stick to high probability trades. Just my 2 cents.......... Kal |
Mike, Thanks for the reply. I am not a member  . I actually found the guest area vids by using Google! I intend on becoming a member as soon as I can afford it(I currently wait tables full time so I can continue being a part time student  ). |
Hey biD Just a further thought about that chart/setup ....the market seems to be drifting sideways an there is a lot of consolidating so these are tricky trades. As mike would tell you that does not mean trades wont work but will need tight management. Kal |
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USDCAD In Daily TF perspective 1 Attachment(s) I'm going to watch this pair when the market open. Nice size traffic pinbar, seating on PPZ, we also have a multiple bar lows (red arrows) when the low of the pinbar break, FTA would be 9700? Any opinions guys?! |
In my effort to refine my entries, I have tried to think of every possible reason why NOT to take a trade as to why trade. A different perspective sometimes can be pretty useful. |
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Young Guns I envy you more than you know. BUT... Trading has become so simplified that it has become easier for me to perform Trades. Still tough to figure though. I just wish you (all) would Settle Down. Yeah... Like That could Happen... LOL  |
Incorrect. The technical definition of a pinbar is any bar extends away from price, has a small body, and has a long nose. A James16 pinbar uses that definition but also requires that both the open and close lie within the range of the previous bar. I would also stay away from this one due to the support and resistance reasons you outlined; too many bar highs and lows at the pinbar's low. Scott
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