pin bar trading

No longer trade the pin bar strategy which was ok but no near as consistent as this one.Been trading this one over a year now.
1. Trade only 4 hr charts..with a 20ema and 50 sma. 20 ema over 50 sma in trend.
2. We try to get the first couple of pullbacks in the trend.
3.Learn how to count the 5 bar candle set up.Highest high on sell and lowest low on buy. Does not have to be consecutive.Number of candles don't matter in the pullback. We are looking for a top or bottom 25% close for entry.
4. rsi 5 on daily charts and rsi 5 on 4 hr charts. Sweet spot on buy is between the 50 and 60 ---sell is between the 50 and 40.I prefer the 4 hr and daily rsi going in the same direction on time of entry.Also make sure the price goes up over the 50 rsi line and back down on sell and vice versa on buy on the 4 charts.
5.Very important : The risk of the entry candle or candles ( 2 at the most) needs to be equal pips or less from the low/high of entry candle to the pivot low/high depending on the trend.Another words we are looking for at least a 1:1 or better to the pivot low/high from the low/high of entry.
6. Personally i identify a pivot low or pivot high as 2 candles on each side of the middle candle.Middle candle being the lowest low or highest high.This is for targets not entries.
7. If i'm selling and anticipating a potential sell entry i do not won't HH's and HL's going up.Vice versa for buy LL's and LH's.Watch the swing points- pivots for high's and low's. Example below. Perfect example below ---Text book trade---post 374
Attached Image (click to enlarge)
https://www.forexfactory.com/attachm...1&d=1548056268

I did trade the Cad and was a nice run. I'm going to show a few more charts .Then i will set some rules. Right now i'm looking at both Oanda candle
feeds and fxcm mt4. Mainly it's been fxcm for me. They are different.The cad/chf above is the first trade on Oanda's so will see.

I did not trade the cad/jpy but it did work out nicely.The 4 hr pin did come after the daily low and the daily candle closed lower than it's 50% range (the red line is daily low ). I like the pin to close in the bottom or top 2/3 range and this one off a few pips i believe.

Ok this is the last chart i'm going to post .I did trade the Aud and boy wished i could have trailed this one.I did get a 2 to 1 or 1 1/2.We
never know what price is going to do. You will get losers .. I'm going to my best to set some rules and guidelines that i go by personally. Of course you can experiment with whatever you like regarding money management placing the trades,trailing price etc.My deal is to keep my risk low even if miss trades . You can refer back to this chart once i tell you the guidelines i go by.

Ok i will be back in a few minutes to go over some guidelines.

Ok i'm going to do my best to explain the guidelines i go by and try to help newbie traders out here and experienced too. There is some discretion and emotions involved in trading. This did not come from any marketing guru on this forum or anywhere else that trades pin bars.A professional trader i know personally gave me a few tips on the technical
side of it and i'm sharing it. . Allways be aware on news events. If my time permits i will be posting some trades later .
Rules :
1. Look for a pin bar that closes in the top or bottom 2/3 range of the candle. Simply take the range of the candle and mutiply by 66.6 % and subtract or add from the top or bottom depending on the direction your trading.This is where discretion comes. Personally i will trade if it's a pip or 2 off.
2. Very important here. The pin bar needs to be larger than the last 3 candles proceeding it . ( glance at charts in the past )
3. I like to keep my risk low so i place a limit order around the 50% of pin bar . (your going to miss trades ) ( but you will more than enough set ups)
4.I like to trade 1/2 to 1 percent with 2 positions.
5.Once i get a 1 to 1. I like bring the other position to break even where my limit was placed...This is where discretion come in to play here.Move your stop
or leave it.
6.Look at your daily close of your candle. Is it above or below 50 percent of the range .This isn't set it stone.Personally i like too.Watch for news events once the london session opens.
7.Do you see obvious swing points like to 2 or 3 hits from 4hr and daily .
8. No lower than the 4 hr charts.

This is all i can think of right now. If you want to pm for more info feel free. I hope this helps. God bless

One more i forgot . If the price breaks the low or high of pin bar and goes up or down half the size of pin bar i cancel trade if it hasn't filled limit
order. For example .Range of whole pin 50 pips...price goes 25 pips i cancel. take care

limit filled and first target hit. 2nd position in green and stopped moved to break even.Daily candle was up and rsi daily pointing up.

This one i didn't see but would have filled buy limit order.I just checked the daily rsi and was pointing up.This bar qualified top 2/3 and larger than the last
3 candles.I have another very conservative entry method that could have some potential .Haven't back tested enough to really see. The entry is based on Primo's 5 bar low or high set up....but i look for 4hr and daily rsi pointing in the same direction with price action (top 25% close on entry ).If anyone is interested let me know and i'll post a few charts . Have a good day.

There is a break (swing point around the 9800) We have to pivot lows ( red arrows ) that pulled back some .The last pivot low or fractual low made a 3 bar pull
back with a nice pin bar which larger than the last one.So that tells me more sellers that buyers.Let's see what happens .My stop is at the top of pin
bar.I normally place it 5 pips above high but leaving in where it is. Place my sell limit 8998(right below the 50% mark of pin) hopefully get filled there ...2 pip spread.I'm going to take 1/2 around the 127 fib . ...16 pips from limit....so a couple before that.

Stopped out on the nzd.I have some more setups brewing.I'm getting about a 50 to 60% percent hit rate so for on pin bar.I have another strategy i use on the daily and 4 hr that i use but way more conservative and don't have that may setups but will post. pretty simple though. Thanks

Before i post my other strategy i want to show the winners on the pound jpy pin bars 4 hr charts.These pin bars formed off pivot high in a trend continuation.If you'll notice all these pin bars were larger than the previous candle or more. All of these did come down and hit limit orders to get a better price and could have some huge winners if you rode it out.Some traders will tell you they only form at major swing lows and highs .This is proof they don't.Even with 40% hit rate they can still be profitable with multiple positions ..just keep your amount of risk fairly low 1/2 to 1 percent . The disadvantage of this strategy you have to monitor trades every 4 hours .

Nice bullish pin bar .buy limit got filled and first position hit. 2nd position hopefully.

I placed a buy limit on the high of the pin ...momentum not as strong. I'll check in the morning.When there is a green pin in an uptrend in my opinon the bears are dead at that point in time. I look for pin to close in the top third and inside the previous candle or bar. Also the pin bar need to be larger thn the previous candle. I like to look for the lowest low of the last 4 or 5 candles.Bouncing off a moving average , multiple hits Have a good night.

Njpy got stopped out at break even.The other 2 setups did well. Also the aud/usd 4hr had a sell entry which i didn't see.

Ok this one was a descent set up which i wasn't around at the time.My 8gmt and 12 gmt are my best times for entries,which are during the london /us session.This was a nice bearish red pin which what we are looking for in a sell....this tells me the bulls are dead and the correction is to the 38.2 which isn't too deep and did bounce off my 21 ema,also larger than the previous candle. We also have the highest of the high of the last 4 to 5 bars. A sell limit would not have triggered this sell. Also one other thing that i do look at is the daily chart rsi 5 indicator to see what direction it's going but not set in stone.Timing the entry is the most the difficult part in trading.

This is a very simple 20ema crosses over the 50sma strategy. I've been testing this one and has some promise. The key is try to get an entry on the first 2 bounces if possible. Look for the lowest low or highest high of the last 5 candles or bars with a top or bottom for 25% close depending on the trend direction.Very similar to Steven primos but i use the daily rsi
as a confirmation on mulitiple time frames" entry on 4hr chart but agreeing with the daily rsi5 in the same direction. No support and resistance,elliot waves , bats ,moons, wolves or whatever. There were several pairs including crosses that had recent setups. So for i've had up to 10 winners in a row using this concept but still in testing phase. Need to be mindful of ranges just like any trending method. If you like more examples just let me know.I do have a little time to spare. Take care