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Attachments: Daily PIN Bars
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Daily PIN Bars

  • #21
  • Aug 16, 2007 7:45pm Aug 16, 2007 7:45pm
So lets hope it pans out !!! Waiting to try it out... although I have some doubts that all the down down down is over with quite yet... but maybe good for a few good pips !!
  • #22
  • Aug 16, 2007 8:29pm Aug 16, 2007 8:29pm
we've broken below the trend line and pulled back if we can stay above this line and break the pin a conservitive profit target would be 1.3525 then if we were to maintain above 1.3500 i'd look for 1.3600 how ever a break below the trend line and we could see 1.3250 and a trend reversal attempt if we do see 1.3250 I would expect a healthy pullback and a secound wave producing a lower low towards 1.300
Attached Image (click to enlarge)
Click to Enlarge Name: friday long11800 3450 9991.jpg Size: 43 KB
  • #23
  • Aug 16, 2007 9:06pm Aug 16, 2007 9:06pm
59fender, Good chart, Good analysis. Bob
Hej.
  • #24
  • Aug 16, 2007 9:58pm Aug 16, 2007 9:58pm
Quoting Stitch961
59fender, Good chart, Good analysis. Bob
well here's another view showing us below the trend line and why were having such a hard time breaking above. the over all bias is down but time is running out for the short's let's see what london wants to do
Attached Image (click to enlarge)
Click to Enlarge Name: friday long11800 3450 9992.jpg Size: 55 KB
  • #25
  • Aug 16, 2007 10:04pm Aug 16, 2007 10:04pm
Nice thread.
  • #26
  • Aug 16, 2007 10:51pm Aug 16, 2007 10:51pm
I am hoping for your idea... Price still has not moved on EUR/USD... Maybe going to try the daily PB trade.... BUT, checking all Asian stock markets down at this hour 1-5%... not even one market in Asian is showing green...

Maybe not good sign...
  • #27
  • Aug 17, 2007 7:55am Aug 17, 2007 7:55am
Quoting 59fender
we've broken below the trend line and pulled back if we can stay above this line and break the pin a conservitive profit target would be 1.3525 then if we were to maintain above 1.3500 i'd look for 1.3600 how ever a break below the trend line and we could see 1.3250 and a trend reversal attempt if we do see 1.3250 I would expect a healthy pullback and a secound wave producing a lower low towards 1.300
ok there we go 1.3524 we have so far failed to maintain 1.3500 watch for a drop
  • #28
  • Aug 17, 2007 8:39am Aug 17, 2007 8:39am
what a battle for 1.3500
  • #29
  • Aug 18, 2007 12:28pm Aug 18, 2007 12:28pm
The Eurjpy having a daily pin off the 50 fib off of the 6/22/05 low of 130.59 and the 168.95 on 7/13/07. Have to be careful though because there was a pin bar with a higher close then opening on the daily 8/10 2007 which was the 23.6 fib and it still went down. Of course these last three weeks have been pretty extreme. The DAR for EurJpy before this past week was around 120 pips and the WAR is 260 pips. That is the distance between the high and low of the day/week. How much it fluctuates between the weekly/daily high and low can vary. Safe (if there is such a thing in forex) and patient trade would be a break above the daily high and previous daily s/r levels .
Attached Image
  • #30
  • Aug 18, 2007 6:50pm Aug 18, 2007 6:50pm
Its seems like the Nzd is going to weaken and has started too but is the yen strong enough to continue a down ward thrust? Currently the NzdJpy has a pin bar with a higher close which is also around the 61.8 fib of 5/12/06 low of 67.81 and the high of 97.76 of 7/23/07. As you can see it has closed at a previous support and resistant area for the dailies. A break above the resistance area seems to be a nice place for a long. A break on the down side has next strong support at 78.50 and 77.25.
Attached Image
  • #31
  • Aug 19, 2007 11:22am Aug 19, 2007 11:22am
I too am considering this PB... BUT, the more I look at it, I wonder if this really qualifies as a real PB since the open and close are not in the upper 1/3 or 1/4 of the previous bar...
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  • #32
  • Aug 19, 2007 1:15pm Aug 19, 2007 1:15pm
Aud Jpy Daily Pin
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  • #33
  • Aug 19, 2007 1:33pm Aug 19, 2007 1:33pm
For statistcal analysis (SA) for the daily pins see http://www.forexfactory.com/showthre...57#post1547057

Post 550 EurJpy
Post 551 NzdJpy
Post 553 AudJpy
  • #34
  • Aug 19, 2007 1:36pm Aug 19, 2007 1:36pm
Quoting Tiki Trader
I too am considering this PB... BUT, the more I look at it, I wonder if this really qualifies as a real PB since the open and close are not in the upper 1/3 or 1/4 of the previous bar...
good point. The way the market moved last week I am not sure if a person can use the normal standards. Have to wait a few days to see it settle possibily. We are getting strong pull backs off of fib levels and s/r levels with higher closes then opens. Some of the closes are at strong s/r levels. So a break above could be a good trade.
  • #35
  • Edited 2:01pm Aug 19, 2007 1:44pm | Edited 2:01pm
The cadjpy close almost higher then the previous bar. Seems to be the strongest of the four posted pin bars.
Attached Image
  • #36
  • Aug 19, 2007 4:30pm Aug 19, 2007 4:30pm
does anybody have a pin bar indicator w/alerts?
  • #37
  • Aug 19, 2007 6:09pm Aug 19, 2007 6:09pm
Quoting fx_ninja
does anybody have a pin bar indicator w/alerts?

Here is the indicator... that is if I did it right...

http://www.forexfactory.com/attachme...5&d=1185324416
  • #38
  • Aug 19, 2007 7:08pm Aug 19, 2007 7:08pm
My picks For today are:

AUD/CAD
AUD/JPY
AUD/USD
EUR/AUD
GBP/JPY
NZD/USD
NZD/JPY

They Are all 1 day PINS That matche my 35% rule and Are on a swing high or sing low.

Enjoy
Ademac
  • #39
  • Aug 19, 2007 7:17pm Aug 19, 2007 7:17pm
Quoting ademac
My picks For today are:

AUD/CAD
AUD/JPY
AUD/USD
EUR/AUD
GBP/JPY
NZD/USD
NZD/JPY

They Are all 1 day PINS That matche my 35% rule and Are on a swing high or sing low.

Enjoy
Ademac
What is your 35% rule?
Thanks Ray
  • #40
  • Aug 19, 2007 7:56pm Aug 19, 2007 7:56pm
Quoting 1234
What is your 35% rule?
Thanks Ray
Hi Ray,

My 35% rule helps me to filter out Bad Pins. All it is is that the Open and close should be within 35% of the top or bottom of the candle depending on which direction it is facing.

I'll attach a picture so it is easier to understand.
Attached Image
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