Pinpars Rock

Nice catch Erebus! Good job!

G

Not really, went from hundreds of profit to loss on open

https://www.zerohedge.com/news/2019-...-flash-crashes

Well at the time of my posting it looked like a good catch. Sorry to hear this. Yes, that was a wicked spike at open.

As they say... Let the games begin!

Good luck this week.

New week, what have you got?

Not ideal but.......

After Monday holiday in USA, Tuesday Asian session, NZD very weak, JPY strong, will it last? is it turning point?

Can we trust Pin Bar? Can we make pips?

Daily chart, look what happened from this level before, already showed 2 pin bars



15 minutes chart, broke yesterday's low and was expecting retest in Europe but came back quickly, one to watch

Amazing price action prediction, red box is near the close of yesterday, dotted line, right at London open, good luck all

it's not only about the pattern but about what market you trade/instrument when and whay and last but most important risk, trade management and pyramiding.

hint: going long on weekly and or monthly pinbars after an yearly low in comodities can be hard but the reward can be huge.
in curencies is better to make bets on very bad countries like usd/ron or others or usd/sar when that peg will explode will be big.
this aproach to market work better on soft comodities.

Any thoughts?
C/J W1

How good is this one?

Should I take the daily range or shoot for the weekly?

Working on cell phone at the moment... anyone looking at this pair of pins?

Working out well, wish I had jumped on...

Saw it but no faith, busy with other stuff

check what happened at that level when price was down there, that's about a 11 pips band for reference

didn't make it to the ZONE

Do you have any indicator which will scan Pinbar for all forex charts for Daily or H4 ? and can send alert

Lets see!!



Edit: There is a niffty pinbar EA by ebeckers that works great

Third time lucky

MISSED SIGNAL OF THE WEEK

This tiny 4 Hour Pin Bar on Wednesday, draw a line at the low and zoom in

Basically in the middle of the week, never went any higher, good trading time, at London

Anyone in this one?

Hi
Until now this would be the way I trade pinbars :

This example is in Daily timeframe but can be adapted to others.
-I put 2 orders after the pinbar is confirmed :
1. buy stop order at about 12pips from the body of the pinbar. Like this I prevent some losers if price might go lower straight through the hole pinbar.
2. buy limit order at the end of the tail, at about 1/3 of the size of the tail. This order does not get filled so often, but if it does, the risk is small because of SL being close.

SL is the same for both orders, a bit further away from the tail of the pinbar to give it some space.

I have 6 scenarios :
1* price goes down trough the pinbar at once without retracing. => I lose with the order #2 which got activited. Order #1 did not get executed.
2* price goes up straight after the pinbar with little retracing. => I win with order #1. Order #2 does is not executed.
3* price goes down and activates order #2 then it goes up again and activates order #1. At that moment I put order #2 in breakeven. Price continues going up. I
win with order #1 and order #2.
4* price goes down and activates order #2. It goes back up and activates order #1. At the moment of activating order #1 I put order #2 in breakeven position.
Then price goes back down. I lose with order #1. With #2 I was already in Breakeven and make no loss.
5* price goes down and activates order #2 then goes back up to the base of the pinbar. I put this order in break even. Price goes back down without activating order
#1. Then price goes back down and my SL at break even position gets hit. No losses no wins.
6* price goes up and activates order #1. At that moment I eliminate order #2. Price goes back down and touches my SL. I lose with order #1.

As you see I can use 2 times my original lotsize, because I never have the 2 orders active with risk. Whenever they are active both, one of them is already in break even position.

Of course I watch several other things before operating like :
volumes, pinbar big enough comparing to ATR20, must be at S or R level, watch divergences, trend, trend lines, last candlestick on higher timeframe, if there enough space to run to enough benefits, ...

As for taking profits, it depends on your favourite way of doing it.
A disadvantage is that these valid pinbars on daily charts do not occure very often.

Any suggestions are always welcome.