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-   -   Catch Pin Bars (Spiky Reversal) Above/Below SMA-13 on H1 (https://www.forexfactory.com/showthread.php?t=908375)

YellowFellow Apr 11, 2019 1:30am | Post# 1

Catch Pin Bars (Spiky Reversal) Above/Below SMA-13 on H1
 
1 Attachment(s)
This post has been edited countless times.. and will be edited in future in similar manner..

Simple Thread Rules:

  1. Please be nice and kind with others.
  2. IF you wanna share a view, support it with a simple chart.
  3. Overly complex charts may not help others.


Pattern-Strategy:

  1. See chart att.. The arrows are placed manually by me on Pin Bars.
  2. Catch Spiky Reversal (Pin Bars) Above/Below SMA-13 on H1.
  3. Ideally, you should let price go sideways for 5 - 10 hrs for consolidation after Pin formation. I call it cooling period like.. let it kool down after the spike.
  4. SL around wick of the pin.
  5. Additionally, I pay attention to break-outs on H4. I believe that majority of the times the pairs continue to range. If you look at daily and weekly charts, you'll see that price is going nowhere at most of the times but oscillating within a range.
  6. In other words, the probability of price staying within a range on H4, Daily and weekly is higher than break-out.
  7. Take cues from other pairs. For Eg. IF Gold has been falling really badly, I won't sell U/J. Similarly, I would like to sell EU/US, if US/CH has been climbing.
  8. When stakes are high and I'm not confident about what I'm doing, hedging helps. For Eg. IF I'm selling EU/US, buying EU/Au and EU/NZ might offset the risk.



Time-Strategy:

  1. Wait for NY morning on Mondays (after the weekend)
  2. Trade Ultra-light on Fridays.
  3. Try not to trade EU or Cable before 10:00 London time, earliest would be 07:00 am London time


Wellness:

  1. If you are not feeling well, do not trade. If its compulsive, trade light.
  2. Do not trade if you are drunk.
  3. If you are vegetarian, take sufficient B6 n B12 from multi vitamins etc.
  4. Try to live on Fruits, Salads, Nuts and Cold Water Fish.
  5. Do sufficient Cardio.



Spiritual Angle for discipline and patience:
I suggest just try your best to not commit any deadly sin (I like The Catholic version) and meditate (Yoga) for self control and discipline.


My Advise:

  1. 80% of traders lose their money in Forex Markets.
  2. I believe more than 80% blow their money within 6 months.
  3. Therefore, do not invest more than you can afford to lose.
  4. Use leverage as low as possible. No matter how rosy it looks like, stay grounded.
  5. Avoid Revenge Trading, if you lost money, let go.
  6. It takes time, I've been into this since 2006, only know little and still learning.


PS: English is a foreign language for me, so you know.
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matthew89 Apr 11, 2019 5:56am | Post# 2

Could you please go into detail on what exactly a "Spiky Reversal" pattern is? Is it just a pin bar? Is there an indicator that can show this pattern setup?

YellowFellow Apr 11, 2019 11:17am | Post# 3

Could you please go into detail on what exactly a "Spiky Reversal" pattern is? Is it just a pin bar? Is there an indicator that can show this pattern setup?
Yes mate, you could look at it as a Pin Bar reversal.

Only using SMA-13 on H1, nothing else.

YellowFellow Apr 12, 2019 5:26am | Post# 4

1 Attachment(s)
See att..

I was able to catch one short once price consolidated after the Pins (above SMA-13 on H1).

Arrows are drawn manually.

PS: This week has been roller coaster for me, overall not good by far.. see some hope going fwd though..
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YellowFellow Apr 12, 2019 11:01am | Post# 5

See att.. I was able to catch one short once price consolidated after the Pins (above SMA-13 on H1). Arrows are drawn manually. PS: This week has been roller coaster for me, overall not good by far.. see some hope going fwd though.. {image}
Just closed my short US/Ca in Greens.

matthew89 Apr 12, 2019 11:07am | Post# 6

Do you have an indicator that can show these pin bars? I have a few but if your looking for something specific and have an indicator that shows this that would be great.

YellowFellow Apr 12, 2019 11:09am | Post# 7

Do you have an indicator that can show these pin bars? I have a few but if your looking for something specific and have an indicator that shows this that would be great.
No mate, I don't use any indicator. I place these arrows manually.. just a look at naked chart and that's all..

fxmir Apr 12, 2019 11:50am | Post# 8

Simple Rules: Please be nice and kind with others. IF you wanna share a view, support it with a simple chart. Overly complex charts may not help others. Pattern-Strategy: See chart att.. The arrows are placed manually by me on Pin Bars. Catch Spiky Reversal (Pin Bars) Above/Below SMA-13 on H1. Ideally, you should let price go sideways after Pin formation. SL around wick of the pin. Time-Strategy: Wait for NY morning on Mondays (after the weekend) Trade Ultra-light on Fridays. Try not to trade EU or Cable before 10:00 London time, earliest would...
Did you trade only major pair ?

YellowFellow Apr 12, 2019 11:56am | Post# 9

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{quote} Did you trade only major pair ?
attached is the distribution of pairs I have traded during past few months..

I try to stick to majors, but, when I see minor pairs doing marathon I find them irresistible.

As you may have seen in my TE, my win rate is quite poor. TBH, most of my trading is learning.

I find myself doing random trading all the time.. like half is based on intuition.
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fxmir Apr 12, 2019 12:16pm | Post# 10

{quote} attached is the distribution of pairs I have traded during past few months.. I try to stick to majors, but, when I see minor pairs doing marathon I find them irresistible. As you may have seen in my TE, my win rate is quite poor. TBH, most of my trading is learning. I find myself doing random trading all the time.. like half is based on intuition. {image}
I saw your TE, it's very promising, Did you follow only this system?

fulljob Apr 12, 2019 1:02pm | Post# 11

thank you for share your idea .
i see your trading account has 398.5% profit in one year .
all of profit is with Catch Pin Bars ?

YellowFellow Apr 12, 2019 1:22pm | Post# 12

{quote} I saw your TE, it's very promising, Did you follow only this system?
> I saw your TE, it's very promising

---> I believe its unpredictable and I just got lucky. My win rate is pathetic.

> Did you follow only this system?

---> At least 50% of my trades are based on intuition.. for eg. if my left eye is fluttering, that means loss is coming or at least I should change my direction.. there are many such occult signals I like to follow.

YellowFellow Apr 12, 2019 1:25pm | Post# 13

thank you for share your idea . i see your trading account has 398.5% profit in one year . all of profit is with Catch Pin Bars ?
50% intuition as mentioned below:
https://www.forexfactory.com/showthr...5#post12222005

the remainder can be attributed to Pin Bars and SMA-13

PS: what I have gained by far may not reflect in future. I think last few months were a lucky period.

YellowFellow Apr 12, 2019 1:45pm | Post# 14

Have a Great Weekend Everyone!

My advise for weekends:

  1. Spend time with your family as much as you can during weekends.
  2. Try not to study Forex during weekends, I always find it misleading.
  3. Weekends are a trap when it comes to spending money, be miser.
  4. Never under-estimate Monday-Blues!


YellowFellow Apr 15, 2019 9:55pm | Post# 15

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The yellow highlighted area indicates the region where it was unable to sustain above SMA-13

I'm of the opinion that NZ should find it easy n cozy below SMA-13.
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YellowFellow Apr 17, 2019 12:27pm | Post# 16

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There maybe some jitteriness around news ahead.. regardless of that I'm of the opinion that OZ is heading south.
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matthew89 Apr 17, 2019 3:57pm | Post# 17

There maybe some jitteriness around news ahead.. regardless of that I'm of the opinion that OZ is heading south. {image}
Do you have any filters that you use to verify the pin bar setups? On the image you uploaded there are several pin bars that occur bellow or above the 13 SMA that would have been loosing trades. But the ones you picked as examples are the winners, what else do you do to verify the setups?

wave7 Apr 17, 2019 4:08pm | Post# 18

Price action is more accurate on Higher timeframe

K40 Apr 17, 2019 4:17pm | Post# 19

The cutest , thread ... , keep it sweet ... , + holistic healing
reading it these trading is more 50% intuition , if not take it wrong ,
you are raw diamond that you dont understand
in those picture , u are using just 1 side of your brain , and 1 side of your seeing
look at it good ... those picture missing a lots of information
since in 1 h chart , take a wider time to develop pattern ,
these chart become more used able in instant eye catching of what ever more expose
then the reality of the date information as originally intended to be
need for speed , these need data , price , candle , to transfer the information
never the less let them come to you .....

YellowFellow Apr 17, 2019 9:01pm | Post# 20

{quote} Do you have any filters that you use to verify the pin bar setups? On the image you uploaded there are several pin bars that occur bellow or above the 13 SMA that would have been loosing trades. But the ones you picked as examples are the winners, what else do you do to verify the setups?
hey mate,
Can you take the pic and mark the area where I missed the pin bars?

I place arrows manually, not a brainer here.. maybe missed something..


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