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Pin Bars Anyone?

  • #1
  • First Post: Nov 22, 2006 6:03am Nov 22, 2006 6:03am
Hello,

I have read the James16 classic (although I could not finish reading War and Peace) and I am interested if there is anyone in this forum that is focusing on trading Pin Bars only. I have adopted Pin Bars (at this stage) as a way to help me focus my trading method. There is sooooo much out there and someone like myself (and maybe others) could use the same restraining devices used on a horse.... like blinders, a bit, a bridle to lead us down the path of success.
All 4 1 and 1 4 All
  • #2
  • Nov 22, 2006 9:25am Nov 22, 2006 9:25am
Yes I try to use them as much as possible. There was a fine PDF that I picked up on the subject. I'm away from my trading computer right now, but I'll update it later.

andersenws
"Youth is the trustee of prosperity." - Benjamin Disraeli
  • #3
  • Nov 22, 2006 9:36am Nov 22, 2006 9:36am
If you like the info on pin bars then you should join the J16 PF. It has enough info like the pin bar stuff to make jour head spin ( in a good way).

Rsq955
  • #4
  • Nov 22, 2006 2:03pm Nov 22, 2006 2:03pm
4rex, your absolutely right, pin bars are an excellent way to fine tune your system and understanding price action is essential for every trader. The James16 chart thread here is priceless but look back at your charts and you will see that trading pin bars alone is not profitable regardless of how tight your management is.

However, use them with fibs, trendlines and you'll be lethal.

Komp.
  • #5
  • Edited 4:31pm Nov 22, 2006 2:13pm | Edited 4:31pm
Here is some info as a reference for people joining......


1. dblhc;double bar low with a higher close on second bar

2. dbhlc; double bar high with a lower close on second bar

3. the above can be triples or more

4. two or more matching highs or lows which if broken usually mean a
resumption of the current trend

5. beovb; bearish outside verticle bar; second bar totally encompasses the
prior bar with a lower close on the second. usually signals a continuation
of the current trend.

6. buovb; bullish outside vertical bar; same as above just reversed.

all the remaining are multi bar patterns based off of these. they are
advanced techniques. we will get into those at a later date. what
everyone should do is paper trade these until you know them.



Regards


Alex
Attached File(s)
File Type: pdf Pinbars.pdf   175 KB | 1,445 downloads
File Type: pdf Pinbars advanced.pdf   113 KB | 1,131 downloads
  • #6
  • Nov 22, 2006 2:26pm Nov 22, 2006 2:26pm
Quoting kompressor
4rex, your absolutely right, pin bars are an excellent way to fine tune your system and understanding price action is essential for every trader. The James16 chart thread here is priceless but look back at your charts and you will see that trading pin bars alone is not profitable regardless of how tight your management is.

However, use them with fibs, trendlines and you'll be lethal.

Komp.
agreed, especially on lower time frames and with some pairs like USDCAD, pin bars dont mean much. they can mean a temporary slight retrace, but thats it.

4 hr or longer term pin bars and outside bars combined with other forms of resistance/support is excellent
  • #7
  • Nov 22, 2006 4:27pm Nov 22, 2006 4:27pm
Quoting AlexFX
Here is some info as a reference for people joining......


1. dblhc;double bar low with a higher close on second bar

2. dbhlc; double bar high with a lower close on second bar

3. the above can be triples or more

4. two or more matching highs or lows which if broken usually mean a
resumption of the current trend

5. beovb; bearish outside verticle bar; second bar totally encompasses the
prior bar with a lower close on the second. usually signals a continuation
of the current trend.

6. buovb; bullish outside vertical bar; same as above just reversed.

all the remaining are multi bar patters based off of these. they are
advanced techniques. we will get into those at a later date. what
everyone should do is paper trade these until you know them.



Regards


Alex

Alex,

Thanks for these documents. They are extremely helpful!
  • #8
  • Nov 22, 2006 4:30pm Nov 22, 2006 4:30pm
pinbars on daily at extremes are 100% successful for me, they are my kind
  • #9
  • Nov 22, 2006 4:32pm Nov 22, 2006 4:32pm
Quoting alcastro
Alex,

Thanks for these documents. They are extremely helpful!
Hey,

Your welcome, come one, come all.....

Alex
  • #10
  • Nov 22, 2006 4:34pm Nov 22, 2006 4:34pm
Quoting 4rex
Hello,

I have read the James16 classic (although I could not finish reading War and Peace) and I am interested if there is anyone in this forum that is focusing on trading Pin Bars only. I have adopted Pin Bars (at this stage) as a way to help me focus my trading method. There is sooooo much out there and someone like myself (and maybe others) could use the same restraining devices used on a horse.... like blinders, a bit, a bridle to lead us down the path of success.
You should read "Pring on Price Patterns". If you like pin bars you will like this book.
  • #11
  • Nov 22, 2006 4:49pm Nov 22, 2006 4:49pm
I think I have to agree with just about everybody here. Pin bars are usually a straight shot winner. I usually use them more so on the 4 hour than daily because I get antsy though haha...speaking of...it looks like there may be one forming and being in overbought territory would be an excellent trade. have a nice thanksgiving everybody.
I dream, therefore I become.
  • #12
  • Nov 22, 2006 4:49pm Nov 22, 2006 4:49pm
Quoting mike w
I think I have to agree with just about everybody here. Pin bars are usually a straight shot winner. I usually use them more so on the 4 hour than daily because I get antsy though haha...speaking of...it looks like there may be one forming and being in overbought territory would be an excellent trade. have a nice thanksgiving everybody.
which pair?
  • #13
  • Nov 22, 2006 4:52pm Nov 22, 2006 4:52pm
I think the euro/usd is going to edge up just a bit more and then drop into the pin bar formation. Im looking at it on the 4 hour timeframe.
I dream, therefore I become.
  • #14
  • Nov 23, 2006 6:33am Nov 23, 2006 6:33am
Hello,

I am very excited that I have finally landed after flying around the skies looking for a method that speaks to me. With price action I feel that my approach is more dynamic thus letting the market speak to me while I listen. Alex thank you for the pdf's and reading everyone's post is a confirmation of my approach. I am at stage with price action/pin bars where I am not quite sure whether to incorporate Support/Resistance levels, Vegas Daily w/fibs, plain fibs. I want to keep my charts as uncluttered as possible. Could someone elaborate what is your favorite setup with pin bars?

Thank you all
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  • #15
  • Last Post: Nov 23, 2006 7:37am Nov 23, 2006 7:37am
For pin bars, what is considered to be an extreme before taking it as signal? From looking at the document, I can see when one is extreme compared to another, but how many ticks would you look for to be a real good pin bar setup? Also, is there are significance to the numbering on the pin bars? I have noticed that on some systems, the count will start over again.
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