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trading pin bar

  • #21
  • Sep 19, 2006 12:26am Sep 19, 2006 12:26am
  •  Trader#0000
  • | Status: Unregistered Trader
Hey,

I've been looking at "PIN BAR" trading recently and I think there is a setup on the USD/CAD pair on the daily chart. The fundamentals on this pair seem to be negative on the "CAD" so bullish the pair. Any comments form the masses?
  • #22
  • Sep 19, 2006 1:20am Sep 19, 2006 1:20am
Quoting Marsboy
Hey,

I've been looking at "PIN BAR" trading recently and I think there is a setup on the USD/CAD pair on the daily chart. The fundamentals on this pair seem to be negative on the "CAD" so bullish the pair. Any comments form the masses?
CAD CPI news in 4 hours 40 minutes. I will wait till after that before trading as one of the masses. 232 pounds.
  • #23
  • Sep 19, 2006 4:26am Sep 19, 2006 4:26am
Quoting Marsboy
Hey,

I've been looking at "PIN BAR" trading recently and I think there is a setup on the USD/CAD pair on the daily chart. The fundamentals on this pair seem to be negative on the "CAD" so bullish the pair. Any comments form the masses?

Hi Marsboy,
I also spotted the bar, but since USDCAD is correlated heavily to oil prices I looked to those instead. Oil had put in a daily pin bar friday or so, so if oil were to strenghten, then USDCAD would have to drop as it helps the canadian part (they're a big oil exporter). But it was a USDCAD bullish pin. So it didn't agree. Then, looking on the chart you can see it is surrounded by failed attempts to get past 1.1215, and looking further to the left you can see there's a sort of consolidation box that has also proven tough before.
So not a good pin, not much room to go, or if it does pass, it has to get through a lot of mud before.
USDCAD is not a very technical / standalone currency, commodities tie in a lot due to oil.

Attached a chart for a visual, hope this helps spot problematic pins...

Best to take those at the outermost edges and into strong s/r...
Attached Image
Trust price. Know yourself.
  • #24
  • Sep 19, 2006 4:43am Sep 19, 2006 4:43am
  •  Trader#0000
  • | Status: Unregistered Trader
Quoting SeekingLight
Hi Marsboy,
I also spotted the bar, but since USDCAD is correlated heavily to oil prices I looked to those instead. Oil had put in a daily pin bar friday or so, so if oil were to strenghten, then USDCAD would have to drop as it helps the canadian part (they're a big oil exporter). But it was a USDCAD bullish pin. So it didn't agree. Then, looking on the chart you can see it is surrounded by failed attempts to get past 1.1215, and looking further to the left you can see there's a sort of consolidation box that has also proven tough before.
So not a good pin, not much room to go, or if it does pass, it has to get through a lot of mud before.
USDCAD is not a very technical / standalone currency, commodities tie in a lot due to oil.

Attached a chart for a visual, hope this helps spot problematic pins...
Best to take those at the outermost edges and into strong s/r...
Hey,

Cheers for the response. I'll wait for the CAD news to come out before looking at it again.

Marsboy
  • #25
  • Jan 8, 2007 11:20am Jan 8, 2007 11:20am
Good stuff!!
  • #26
  • Apr 10, 2007 8:13am Apr 10, 2007 8:13am
Thanks. Awesome!
  • #27
  • Nov 2, 2010 4:16am Nov 2, 2010 4:16am
http://i54.tinypic.com/2czoewo.jpg

ru serious man pinoccio bar ?lol looks like somewthing else
  • #28
  • Nov 8, 2010 4:29am Nov 8, 2010 4:29am
predicting ... (pre-dick-ting???) ... Forex is kinda like predicting the weather ...
Attached Image
  • #29
  • Apr 9, 2011 12:56am Apr 9, 2011 12:56am
.
Attached Image (click to enlarge)
Click to Enlarge Name: futurecast.jpg Size: 268 KB
  • #30
  • Edited 9:00am Apr 11, 2011 8:55am | Edited 9:00am
I'm very new to this and just digesting the pinbar information. I was looking over the EUR/USD in Oanda for previous pinbars. Would the 14th of February have qualified as having a pinbar? Please see the attached chart. The time on the chart of the pinbar I was looking at was 7:00 (I assume Eastern time). Data for the bar:

Open at 1.34522
Close at 1.34613
High 1.34897
Low 1.34291

Thanks,
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-chart.jpg Size: 136 KB
  • #31
  • Apr 11, 2011 9:32am Apr 11, 2011 9:32am
hey jp1900,
your chart is incomplete.
pinbars are (1 of the setups) discussed in the "james16 chart thread". check it out.
  • #32
  • Apr 11, 2011 1:07pm Apr 11, 2011 1:07pm
Thank you supremeChaos. There is a lot of information in that thread. I am working through it slowly. You must be referring to stuff like this:

http://www.forexfactory.com/showpost...&postcount=175

where Jim says,

"price action in and of itself is a great tool and yes a lot of times they work in and of themselves. but what we really want is multiple signs of a probable winning trade. price action combined with fib ret, monthly and weekly pivot levels, divergence, confluence etc. i will be dissapointed if and when someone goes hey that dblhc did not work and they did not combine other tools to confirm."
  • #33
  • Nov 29, 2011 9:43pm Nov 29, 2011 9:43pm
http://www.forexfactory.com/showthread.php?t=328346
  • #34
  • Jun 28, 2013 10:57am Jun 28, 2013 10:57am
Essential infographic, in my opinion, for anyone trading Pin Bars - http://forexuseful.com/authors/forex...gy-infographic
  • #35
  • Last Post: Jul 30, 2015 4:52pm Jul 30, 2015 4:52pm
Quoting SeekingLight
{quote} Right, let's see...there's the 2 that I mentioned already(nippy and EJ) that were together worth about 150-200 pips, the cable pin just a few days ago that went 200-275 depending where you entered... Isn't 3 pin bars for 400 pips a month enough for you? Not that the month is over yet, this was just the last two weeks that I remember...there were also other price action setups going on, check out the best thread you will EVER read in the public forum to learn about...

Seeking Light (or to anyone else that knows the answer),

What happened to the link to the thread in your post?? I clicked it and it said "404 Page Not Found. Sorry, you have requested an invalid page." Did the author of the thread (or maybe Forex Factory) delete the thread? You said in your post that the thread is "the best thread you will EVER read in the public forum". It is a total shame that the best thread in this forum is no longer available for us to read. I am very curious why that thread is no longer available.

Whatever the case, I think the Pin Bar - USED IN CONJUNCTION WITH S & R (and/or other confluences) - could be be best method of trading there is.

Power to the Pin Bar!
"Dream big and dare to fail." - Norman Vaughan
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