pin bar trading

Good morning from Texas , The 2nd chart Aud4hr above was a loser ...my signal was a strong inside candle during my 8gmt and 12gmt times ...us and london sessions.The strong
outside candle --(the one i have been mentioning all along with a strong close took it out . This particular candle should be in your arsenal.If you only traded this candle alone as a signal in the zone it boost your confidence .

Ok the above chart has completed its 2 waves ..if you rode it out you or went in seperate times you woud have done well.No need to go in again unless it takes out a low orliquidity pool, Have a great Sunday !!!

Hi Tex

Sorry for being away - im trying to find a new broker (with a decent UK platform)



I (demo'ed) this pullback, the only thing is the MAs are not aligned.

Hopefully i found a good broker, with decent spreads (IG Index) so will move once they accept my application

Pervaz

No problem Pervaz and no big hurry . I havent had much time today doing my daily stuff . The daily charts are not near as smooth as the
4 hr charts when comes to pullbacks ...although if you can get in on nice break out on the daily charts you can ride it. Take care

The chart above c/chf was kind of messy ...there was 2 signals there with the outside candle entries . The best signal was above the 20ema which is kind of risky with no momentum but great RR if you stayed with it-- still
within the 5 wave count . The other signal was a good momentum (outside candle ) but more or less a scratch/loss depending on when you covered . These wave counts or not elliot wave ...just wave counts above the 50/20ma 's.

The below chart e/nzd was good momentum ..20ema above resisitance ..outside candle entry with 20ema still above resisitance . This outside entry candle is simply the entry candle's needs to be lower and higher than the previous candle with at least 25% close....looking to the least for at least a 1 to 1 to close . There was other winners pairs that were winners but not with this entry criteria .

All rules applied --12gmt time. entry .

Nice setup here . Great entry in 2nd wave - great entry on another outside engulfing on the 4hr chart and the rsi 50 /60 zone. Daily rsi up . 8gmt time .Have a great weekend !!

Nice entry (outside candle) and lower close . Daily rsi 5 down too . I know some traders that trade engulfing candles (not outside candles) like this ..when there is two red candles down followed by a green candle up that is a bullish buy.The green candles body needs be larger than the previous red candle's body.Sell is opposite with 2 greens and one red.I never done a thorough back test to see how accurate it is...probably worth checking out anyway.

Good run on the yen chart above above if you rode it out . Have a good weekend !!

cover now to break even now .

The daily usd/jpy had some signals in the past week as well.

eur/gbp 4hr and eur /cad 4hr had nice signals.If i have time i will post an engulfing trending strategy i have been looking at for awhile also and
can be traded as low as the 1 hr chart . So for it's pretty consistent so will see. You all have a great weekend !!

I know some people are gettig confused on the 25% outside candle/ bar signal entry . 1. On buys We want to make sure its lowest low in the turn . 2. The close on the entry candle has to close above the previous candle's close. 3. We want to make sure it makes a higher high than the previous candle ...and does not have to close above the previous candles high. Of course last by not least it needs to close in the top 25% .oppposite for sells. It does not have to be a color change like the engulfing pattern .
2. On buys we want to make sure the candle or bar closes below the highest point when we look for pullbacks .opposite rules for sells.
3. This particular entry is real consistent as for as winners versus losers.
I hope this clarifies some confusion . Take care