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Daily PIN Bars

  • #161
  • Edited 2:37pm Sep 28, 2007 1:03pm | Edited 2:37pm
Quoting J2FcM
Mimas did you take any profit on your 83 pips yet!?!?
J2FcM,
Nope it still going strong so will leave well alone for now.....!!!!
Next main resistance I think is last months high which is 150 pips away !!!!!!!!
Trailing the stop though may shorten it if there is some gapping to lock profit in
  • #162
  • Sep 29, 2007 12:01pm Sep 29, 2007 12:01pm
beach, isnt this the same one wilf had posted on fozzy a few months back?



Quoting BeachBum
WARNING...WARNING...WARNING...This indicator repaints!

The last three dots are subject to change (repaint); after that the dots will not change.

Therefore: this indicator is NOT for current time use, but very useful to show past levels of S & R. I like to zoom out on a Daily chart (or longer time frame) to identify the areas that have demonstrated support and/or resistance in the past. Enjoy!
  • #163
  • Sep 29, 2007 12:06pm Sep 29, 2007 12:06pm
latecomer to this thread..Beach, if you dont mind, a couple of queries.

 

  1. if i have read you right, once a PB occurs, you wait for two days for fozzy cross to occur.. how rigid is that time frame for you?
  2. secondly i note that when a pb occurs you also take into account PA before PB. ie : if a PB indicating a sell occurs, you would tend to ignore it, if the candle(s) immediately before PB were already in the red? and vice versa for PB indicating a buy
  3. thirdly, elsewhere you mentioned you wait for the fozzy cross to occur first and then wait for the PB.. isnt it the other way round.generally the PB is the first to appear and then the fozzy?

thanks in advance




[quote=BeachBum;1594104]Initially it was my intention to only discuss PBs and a Fozzy-style indicator, but I have since decided to show how I use the basic 8 over 8 Fozzy indicator with other PA indicators.

  • #164
  • Sep 29, 2007 12:10pm Sep 29, 2007 12:10pm
Quoting coolshades
beach, isnt this the same one wilf had posted on fozzy a few months back?
yes it is
  • #165
  • Sep 30, 2007 9:08pm Sep 30, 2007 9:08pm
Quoting coolshades
latecomer to this thread..Beach, if you dont mind, a couple of queries.

  1. if i have read you right, once a PB occurs, you wait for two days for fozzy cross to occur.. how rigid is that time frame for you?
  2. secondly i note that when a pb occurs you also take into account PA before PB. ie : if a PB indicating a sell occurs, you would tend to ignore it, if the candle(s) immediately before PB were already in the red? and vice versa for PB indicating a buy
  3. thirdly, elsewhere you mentioned you wait for the fozzy cross to occur first and then wait for the PB.. isnt it the other way round.generally the PB is the first to appear and then the fozzy?

thanks in advance


Hi cool................

I would like you to study ALL of this post very carefully and then PM me if you still have these questions:

http://www.forexfactory.com/showpost...47&postcount=1
  • #166
  • Oct 1, 2007 12:22am Oct 1, 2007 12:22am
pokin in...

wondering if anyone had any comments on these 2 lil guys... specifically the 2nd one. Why or why not they may've took it.
Attached Image (click to enlarge)
Click to Enlarge Name: eur cad.gif Size: 20 KB
"Please sir, may I have some more pips?"
  • #167
  • Oct 1, 2007 12:27am Oct 1, 2007 12:27am
Quoting J2FcM
pokin in...

wondering if anyone had any comments on these 2 lil guys... specifically the 2nd one. Why or why not they may've took it.
The first one is better if anything. I would still want to see a longer nose on it, but it is a retrace pin. The second pin I will never play those in a sideways market like that. After a lot of testing, these just seem to be a pure 50/50. It makes more sense to wait for a confirmation with a breakout/pullback of some sorts of the triangle

Just my view
Attached Image (click to enlarge)
Click to Enlarge Name: eeee.gif Size: 14 KB
  • #168
  • Oct 1, 2007 1:42am Oct 1, 2007 1:42am
So - in your experience a pin off of retrace has more weight than a pin off a pivot (assuming you're comparing JUST those 2 areas) - or its jsut that dag traffic area?

But I definitely see what you mean... I hate watching traffic go up 3 days, down 3 days, ricocheting off of PPZ zones... I feel like on some pairs its playable, and on others its not.
"Please sir, may I have some more pips?"
  • #169
  • Oct 1, 2007 1:50am Oct 1, 2007 1:50am
my mother told me as a child never to play/walk out in traffic.

My mom is a great woman, and a smart lady. So I take her advice to all things I do

If you catch my drift
  • #170
  • Oct 2, 2007 1:38am Oct 2, 2007 1:38am
Anyone buy some nuggets on this one?

Signals saying maybe it goes up to the 38 retrace level?

Thoughts?

I stayed out - didn't feel this was A trade enough for me (yet)
Attached Image (click to enlarge)
Click to Enlarge Name: eur aud.gif Size: 19 KB
"Please sir, may I have some more pips?"
  • #171
  • Oct 2, 2007 2:04am Oct 2, 2007 2:04am
Well looks like my run with the bulls is over. Did ok off most trades with the 2 EUR/USD trades being my star performers. will probably lose the USD/CAD & the NZD/JPY tonight as well as the price has almost hit my stops.

EUR/CAD -48 pips or -0.42% loss locked in
USD/CAD +46 pips or 0.52% profit locked in
AUD/JPY stopped out at +143 pips or 0.69% profit
NZD/JPY +142 pips or 0.62% profit locked in
USD/JPY stopped out at break even
EUR/USD 1D stopped out at +568 pips or +6.6% profit
EUR/USD 4HR stopped out at +331 pips or +7% profit

Enjoy
Ademac
  • #172
  • Oct 2, 2007 5:34am Oct 2, 2007 5:34am
Quoting ademac
Well looks like my run with the bulls is over. Did ok off most trades with the 2 EUR/USD trades being my star performers. will probably lose the USD/CAD & the NZD/JPY tonight as well as the price has almost hit my stops.

EUR/CAD -48 pips or -0.42% loss locked in
USD/CAD +46 pips or 0.52% profit locked in
AUD/JPY stopped out at +143 pips or 0.69% profit
NZD/JPY +142 pips or 0.62% profit locked in
USD/JPY stopped out at break even
EUR/USD 1D stopped out at +568 pips or +6.6% profit
EUR/USD 4HR stopped out at +331 pips or +7% profit

Enjoy
Ademac
Hi Ademac,
Thats 1182 pips profit thats some going my friend.......anyone would be over the moon with those results.

I made 102pips on NZD_USD was up to 160 but as you say it has retraced (stopped me out on my trailing stop by 3pips).......

Cannot see any good pins on the horizon just yet a waiting game to be sure......but my rifle is ready...........

Stay Lucky Mimas.
  • #173
  • Oct 2, 2007 5:39am Oct 2, 2007 5:39am
Quoting J2FcM
Anyone buy some nuggets on this one?

Signals saying maybe it goes up to the 38 retrace level?

Thoughts?

I stayed out - didn't feel this was A trade enough for me (yet)

J2FcM,
I think that was a good call it's strange how much different feeds show information there's no pin on mine ???????
Attached Image (click to enlarge)
Click to Enlarge Name: eur_aud.gif Size: 14 KB
  • #174
  • Oct 2, 2007 10:35am Oct 2, 2007 10:35am
dang feed differences.

I also got a lot of JPY bearish bars yesterday. Here is one of them
Attached Image (click to enlarge)
Click to Enlarge Name: eur jpy.gif Size: 19 KB
"Please sir, may I have some more pips?"
  • #175
  • Oct 2, 2007 10:51am Oct 2, 2007 10:51am
As a general rule of the thumb, pin bars (hammers, however you wanna call them) work best when they happen right off a significant level of S/R such as a trendline, a previous swing high/low, a fib retracement, etc. At the end of the day, a pin bar is nothing but a violent bounce off a particular level in the intraday price action.
  • #176
  • Oct 3, 2007 5:59am Oct 3, 2007 5:59am
Hi ademac, Just want to say thanks for all of your great work here. It is greatly appreciated. Pippo
Vincit qui se vincit.
  • #177
  • Oct 3, 2007 6:24am Oct 3, 2007 6:24am
Daily pin on eur/chf yesterday, but has not broken to the downside as yet
Regards
  • #178
  • Oct 3, 2007 6:48am Oct 3, 2007 6:48am
Howard at what time does your bar open/close GMT. Thanks
Vincit qui se vincit.
  • #179
  • Oct 3, 2007 7:05am Oct 3, 2007 7:05am
Quoting Pippopotamus
Howard at what time does your bar open/close GMT. Thanks
21:00 GMT, 22:00 UK FXDD charts
Regards
  • #180
  • Oct 3, 2007 7:08am Oct 3, 2007 7:08am
It is the same on my other chart onwhich daily closes at 22:00 GMT, 23:00 UK time
Regards
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