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Daily PIN Bars

  • #41
  • Aug 20, 2007 12:45am Aug 20, 2007 12:45am
[quote=ademac;1547439]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.

Many thanks. That looks like a good rule!
Good luck with your daily pin bars. I am also trading daily PBs.
Regards Ray
  • #42
  • Aug 20, 2007 6:02am Aug 20, 2007 6:02am
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

Ademac,

The footer that you have are your actual results with your pinbars since jun 2007 (01/06/2007)?
The YTD 26/47 means that you have opened 47 trades and of those 26 have been winners?
And for Aug you have opened 9, and 5 have been winners?
  • #43
  • Aug 20, 2007 6:31am Aug 20, 2007 6:31am
Quoting alcastro
Ademac,

The footer that you have are your actual results with your pinbars since jun 2007 (01/06/2007)?
The YTD 26/47 means that you have opened 47 trades and of those 26 have been winners?
And for Aug you have opened 9, and 5 have been winners?
Thats right From the start of June and right now i have 7 open that and 1 pending that don't count in those numbers.

Its not an amazing strike rate but it comes down to how i manage my trades.

Enjoy
Ademac
  • #44
  • Aug 21, 2007 11:38am Aug 21, 2007 11:38am
Quoting ademac
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.
I have a simple excell work sheet for daily pins one of the categories computes what percentage the close is in relationship to the top or bottom. You enter in the open close high low of the pin bar and the previous bar. If you want you can PM with your email address and I can send you an attachment. See posts 550 551 553 554 with the below link.

http://www.forexfactory.com/showthre...=27624&page=37
  • #45
  • Aug 21, 2007 9:01pm Aug 21, 2007 9:01pm
Looking at the USDCHF PB. Have put in a buy order just above the high. SL just below PB. The PB looks like it has come off ret 50% Hoping it will go to the next S/R level of 1.2150
Ray
Attached Image
  • #46
  • Aug 22, 2007 2:28am Aug 22, 2007 2:28am
Quoting 1234
Looking at the USDCHF PB. Have put in a buy order just above the high. SL just below PB. The PB looks like it has come off ret 50% Hoping it will go to the next S/R level of 1.2150
Ray
Ray,

The PIN you are looking at has a few things going for it. PPZ, TL and 50%Fib bounce. The one thing i don't like about this trade is that it is "In Traffic".

Enjoy
Ademac
  • #47
  • Aug 23, 2007 8:55pm Aug 23, 2007 8:55pm
Today, Friday, I am looking at the usd/jpy daily PB. I have put in a sell stop order just below the PB and SL at the top of the PB. The PB formed at the ret 38% and there is support at the 115.60 level, which it has to break if my trade is to start. At the moment, at the start of the Asian session, price is going long.
Good trading to all for the last day of the week. Ray
Attached Image
  • #48
  • Aug 23, 2007 9:44pm Aug 23, 2007 9:44pm
There are two pin bars i like for today

USD/JPY
CHF/JPY

My AUD/JPY, AUD/USD & EUR/AUD are all still going strong.

Enjoy
Ademac
Attached Image
  • #49
  • Aug 27, 2007 7:18pm Aug 27, 2007 7:18pm
My picks for today are:

AUD/USD 2D Short
EUR/AUD 2D Long
USD/CAD 3D Long
NZD/USD 3D Short
AUD/CAD 2D Short
CHF/JPY 3D Short
GBP/CHF 2D Short

Current Trades still open
AUD/JPY, AUD/USD, EUR/AUD & USD/JPY

Enjoy
Ademac
  • #50
  • Edited 7:03pm Aug 28, 2007 6:42pm | Edited 7:03pm
I Have Closed out my
AUD/JPY Long
AUD/USD Long
EUR/AUD Short
all for a good Profit.

Current Trades still open, All have had there stops tightened according to my Trading Plan.

USD/JPY Short
AUD/USD Short
EUR/AUD Long
USD/CAD Long
NZD/USD Short
AUD/CAD Short
CHF/JPY Short
GBP/CHF Short

Pending
USD/CHF Long

Enjoy
Ademac
  • #51
  • Aug 28, 2007 8:04pm Aug 28, 2007 8:04pm
Looking to take the daily PB at 1.2040 with SL at 1.1960. The bottom of the PB lines up with 23% fib, not sure if this is confluence but there appears to me to be support at 1.2000
Regards Ray
Attached Image
  • #52
  • Aug 29, 2007 4:23pm Aug 29, 2007 4:23pm
At work I only have FXCM charts... I cannot verify your pin bar from yesterday (USD\CHF). The 2nd eye appears to have a lower low than the 1st eye of the pinnochio formation.




Has anyone identified any daily or 8hr pin bars for today? So far, I have scrolled down 3/4 of the currencies in FXCM charts, and have been able to find a single one.

I will stay active in this thread to see your "guys"'s pin bars and I will post my own findings.

In the name of SAVING TIME!
"Please sir, may I have some more pips?"
  • #53
  • Aug 29, 2007 4:34pm Aug 29, 2007 4:34pm
AUD\CAD

Daily - Looks like a potential pin bar - although weak. A pinnochio maybe be forming.
8 hour - Looks like a Double Low, with potential for a High Close.
4 hour - Suggests the same thing.


Problems I see;

It looks like the trend is going bearish, but hte pin bar is pointing down (signaling bullish movement) - so it would be a trade "against the trend".

Or maybe the market on daily could best be described as "choppy" and avoided all together.
Retraces don't show much of promise either...


side note: is a downward pinbar on top of a high swing as accurate as an upward pin bar on a high swing? It seems the upward pinbar on an upswing would carry more weight, as it can pierce fib retraces.
"Please sir, may I have some more pips?"
  • #54
  • Aug 29, 2007 4:43pm Aug 29, 2007 4:43pm
EUR/AUD on the 28th. Pin bar, that pierces 38% fib.
"Please sir, may I have some more pips?"
  • #55
  • Aug 29, 2007 10:21pm Aug 29, 2007 10:21pm
Trades Stoped out for small Loss
USD/JPY Short
USD/CAD Long
CHF/JPY Short
GBP/CHF Short

Current Trades still open
AUD/USD Short
EUR/AUD Long
NZD/USD Short
AUD/CAD Short

Pending PIN Bars
AUD/JPY 2D Long
AUD/USD 2D Long
GBP/USD 3D Long
USD/JPY 2D Long
AUD/CAD 2D Long
CHF/JPY 2D Long
EUR/CHF 2D Long

Enjoy
Ademac
  • #56
  • Aug 30, 2007 2:32am Aug 30, 2007 2:32am
word to the Auddie Caddie! Does anyone else still refer to the CHF as the Chinese Frank? I'm sorry, is that a newbie thing or a whole nother story.

Anyways, I'm on 2 of the same trades as you Optimus, AKA ademac
"Please sir, may I have some more pips?"
  • #57
  • Aug 30, 2007 7:08pm Aug 30, 2007 7:08pm
Current Trades still open
AUD/USD Short
EUR/AUD Long
NZD/USD Short
AUD/CAD Short
EUR/CHF Long

Pending PIN Bars
AUD/JPY 3D Long
GBP/USD 4D Long
USD/JPY 3D Long
CHF/JPY 3D Long

I have carried over for another day the above bars as the pattern has stayed valid as the open and close of the inside bars ensured the pattern has stayed valid.

Enjoy
Ademac
  • #58
  • Sep 4, 2007 7:51pm Sep 4, 2007 7:51pm
Today I am looking to go long on the eurusd daily PB at 1.3630 just above the PB with a stop SL below the PB. There appears to be S/R around the 1.3620 area so the PB could be in a good place.
Good luck with your trading today. Ray
Attached Image
  • #59
  • Sep 4, 2007 8:21pm Sep 4, 2007 8:21pm
Quoting J2FcM
word to the Auddie Caddie! Does anyone else still refer to the CHF as the Chinese Frank? I'm sorry, is that a newbie thing or a whole nother story.

Anyways, I'm on 2 of the same trades as you Optimus, AKA ademac
Never heard of that before. You do know it is the Swiss Frank.

What does China have to do with it? Yuan.
  • #60
  • Sep 5, 2007 12:25pm Sep 5, 2007 12:25pm
Yeah I've asked around; so far no one calls

JPY the Jeppy
GBP the Gilbaltry
and
CHF the Chinese Frank.


my newb FOREX posse has born all these silly phrases; but they just seem to roll off the tongue so much easier.
"Please sir, may I have some more pips?"
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