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Daily PIN Bars

  • #61
  • Sep 5, 2007 7:43pm Sep 5, 2007 7:43pm
Sorry to stick my nose in... my wife and I always call CHF "chief" guess you can see why on that huh ???
  • #62
  • Sep 6, 2007 10:59am Sep 6, 2007 10:59am
nice!


Never thought of that one... its simpler and faster, and more obvious. While obvious might not always be the best I do think its too late for me to make the switch. I've only known the Chinese Frank and that's all I'll ever know...

I Dream one day of talking to a group of 100's of traders, and telling them about Jeppys and Chinese Franks; and seeing their awe.
"Please sir, may I have some more pips?"
  • #63
  • Sep 9, 2007 9:23pm Sep 9, 2007 9:23pm
Possible good Pin forming on Aud/USD 4 hr. Waiting for the close.
  • #64
  • Sep 10, 2007 9:20am Sep 10, 2007 9:20am
I was right....got my very first "PIN BAR" win....lol

At the Sept 10 1:00 mark (this is GMT time)...
Attached Image (click to enlarge)
Click to Enlarge Name: pin.gif Size: 16 KB
  • #65
  • Sep 10, 2007 3:37pm Sep 10, 2007 3:37pm
word up - nice job.

At work I see 2, GBP\JPY, and EUR\CHF ---> off of 8 hour charts, and they prophecize a short.

I'll check em out further when I get home in 3 hours.
"Please sir, may I have some more pips?"
  • #66
  • Sep 10, 2007 7:06pm Sep 10, 2007 7:06pm
Today i see two PIN bars of note

AUD/USD Long
EUR/AUD Short

Enjoy
Ademac
  • #67
  • Sep 10, 2007 7:55pm Sep 10, 2007 7:55pm
You don't like the PB on gbp/usd ??? Small but I have other indicator saying to go short here too...

The attachment chart below is wrong chart ooooops sorry !!!
Attached Images
  • #68
  • Sep 10, 2007 8:42pm Sep 10, 2007 8:42pm
Quoting Tiki Trader
You don't like the PB on gbp/usd ??? Small but I have other indicator saying to go short here too...
Hey Tiki,

I looked at it initially but i just couldn't find enough supporting factors that make me want to take this trade.

Things that put me off it where.
The current 20 day median is 142 pips. But the daily range for the 10/09/07 was only 67 pips.
Traffic. the bar high was only 7 pips higher than Fridays high so you could almost call it an inside bar.
My perception of what the market is doing/thinking. There has been strong numbers coming out against the USD with Friday being one of those days. I view monday as a day of consolidation.
Not much room to move to the down side. See http://www.forexfactory.com/showpost...postcount=5956

With all that said i could be wrong but i think i can find better trades to take, thats why i chose only the AUD/USD & EUR/USD.

Enjoy
Ademac
  • #69
  • Sep 10, 2007 8:52pm Sep 10, 2007 8:52pm
I agree about the high part only being 7 pips higher... I also use Rob Bookers system which on 4 hr right is strongly pointing towards a short here... I don't think we are in traffic... I think there be a bit of a top here....

I agree that things look like going up... I especially think that because of high probablility of interest reduction in US next week...

But when GBP/USD retraces, it is hitting first fib line about 97% of the time... and that goes for a single bar or almost any run... check it out... I backtested it already... just amazing... The GBP retrace is actually the basis of a big part of my trading system...

I am going to trade it... risking about 1.5 % of my account... ( as if that is anything big anyways !!! )

Order for SHORT in @ 2.0247.... STOP @ 2.0335 Two positions... first Profit Target at 2.0115 second @ 2.0190 just above the fib line...
Attached Image
  • #70
  • Sep 11, 2007 3:40pm Sep 11, 2007 3:40pm
Well, so much for that PB... and 1% of my account...

Teach me to wait for better set-ups... although right now the Aud/Usd PB is kicking off real nice... and it was only a little PB to... but a better place pricewise...
Attached Image
  • #71
  • Sep 11, 2007 4:13pm Sep 11, 2007 4:13pm
I haven't posted in this thread before, but I regularly read here. The lower window in my attached chart kept me out of this short; and gave me a buy on Aug 22 and Sept 6. Maybe this will be of interest to you..............
Attached Image (click to enlarge)
Click to Enlarge Name: gbp_usd.png Size: 14 KB
  • #72
  • Sep 11, 2007 7:44pm Sep 11, 2007 7:44pm
Quoting Tiki Trader
Well, so much for that PB... and 1% of my account...

Teach me to wait for better set-ups... although right now the Aud/Usd PB is kicking off real nice... and it was only a little PB to... but a better place pricewise...
Hey Tiki,

Well you live, you learn. At least you got your MM sorted and didn't bet the farm. I watch all 19 pairs that my broker offers looking for just PB, found this works for me as i am reasonably patient but I don't like waiting to long cause as it causes me to take bad trades.

What i think I am trying to say i. Sure the GBP/USD PB had some merit but on the same day there was also PB on the AUD/USD & AUD/EUR as well. To sum up by casting my net as wide as i can looking for trades. I can pick just the better looking ones and i find it rare that a day goes by where i don't have either a new PB to trade or an existing PB trade to manage.

Enjoy
Ademac

EUR/USD 136 pips Locked in / 1.52%
AUD/USD -50 pips Locked in / -0.45%
EUR/AUD -69 pips Locked in / -0.41%
  • #73
  • Sep 11, 2007 8:14pm Sep 11, 2007 8:14pm
I think I agree with all you say today !!! No I never bet the farm !!! Been there, done that !!!

I have been also thinking about trading only PBs... but I feel like I am starving when I can't find one... I was more inclined last night to look at GBP and EUR... I think they must hit top soon and I am good at jumping the gun...

I have also gotten on the AUD/USD PB and am down a few pips... I got in later than you... I think still good chance to go up, though I see a 4hr PB / doji thing which looks frightening...

Ya.. at least the MM thing is under control !!! Not much else though !!


Quoting ademac
Hey Tiki,

Well you live, you learn. At least you got your MM sorted and didn't bet the farm. I watch all 19 pairs that my broker offers looking for just PB, found this works for me as i am reasonably patient but I don't like waiting to long cause as it causes me to take bad trades.

What i think I am trying to say i. Sure the GBP/USD PB had some merit but on the same day there was also PB on the AUD/USD & AUD/EUR as well. To sum up by casting my net as wide as i can looking for trades. I can pick just the better looking ones and i find it rare that a day goes by where i don't have either a new PB to trade or an existing PB trade to manage.

Enjoy
Ademac

EUR/USD 136 pips Locked in / 1.52%
AUD/USD -50 pips Locked in / -0.45%
EUR/AUD -69 pips Locked in / -0.41%
  • #74
  • Sep 11, 2007 8:40pm Sep 11, 2007 8:40pm
Anyone got anything?

I see no promising daily or weekly pins. Or 4H for that matter
"Please sir, may I have some more pips?"
  • #75
  • Sep 12, 2007 1:54pm Sep 12, 2007 1:54pm
Quoting BeachBum
I haven't posted in this thread before, but I regularly read here. The lower window in my attached chart kept me out of this short; and gave me a buy on Aug 22 and Sept 6. Maybe this will be of interest to you..............

Yes, I concur!! Got the same setup!!
  • #76
  • Sep 12, 2007 2:52pm Sep 12, 2007 2:52pm
Quoting BeachBum
I haven't posted in this thread before, but I regularly read here. The lower window in my attached chart kept me out of this short; and gave me a buy on Aug 22 and Sept 6. Maybe this will be of interest to you..............


what could the magic lower window be!?!?!
"Please sir, may I have some more pips?"
  • #77
  • Sep 12, 2007 2:54pm Sep 12, 2007 2:54pm
I am betting fozzy indicator !!!


Quoting J2FcM
what could the magic lower window be!?!?!
  • #78
  • Sep 12, 2007 4:22pm Sep 12, 2007 4:22pm
Quoting Tiki Trader
I am betting fozzy indicator !!!
TT wins the bet!

For the past several months I have been looking very closely at and trading pin bars that are IN AGREEMENT with the basic Fozzy-style 8 over 8 indicator. This has worked extremely well for me as shown in the posted chart, keeping me out of a losing pin bar trade but putting me in the winners; something you might want to take a look at as you refine 'pin bar trading'. Why not try the "Magic Window" for yourself?
  • #79
  • Sep 12, 2007 6:28pm Sep 12, 2007 6:28pm
Tiki Trader has asked me to post some additional information on what I have learned about PBs and the Fozzy-style indicator. I'll choose a chart that shows winners, losers and maybes, and post that with some explanation; if not later today, tomorrow for sure. Time to go PB hunting.........
  • #80
  • Sep 12, 2007 6:36pm Sep 12, 2007 6:36pm
Great !!! I think many would be very interested if this is something that can help get into good PBs and stay out of the not so good ones...


Quoting BeachBum
Tiki Trader has asked me to post some additional information on what I have learned about PBs and the Fozzy-style indicator. I'll choose a chart that shows winners, losers and maybes, and post that with some explanation; if not later today, tomorrow for sure. Time to go PB hunting.........
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