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Daily PIN Bars

  • #361
  • Dec 17, 2007 7:31pm Dec 17, 2007 7:31pm
OK, forget about the morning star idea....
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  • #362
  • Dec 17, 2007 9:45pm Dec 17, 2007 9:45pm
My EUR/USD Daily looks slightly different than the ones you guys recently posted, but my Pin Bar's lookin pretty good, solid 38.2 retrace level of last major push up. Anybody else?
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  • #363
  • Dec 18, 2007 9:37am Dec 18, 2007 9:37am
Quoting Philww
My EUR/USD Daily looks slightly different than the ones you guys recently posted, but my Pin Bar's lookin pretty good, solid 38.2 retrace level of last major push up. Anybody else?
Phil the Volume in Forex doesn't mean anything just so you know, maybe you can save some space on the screen
  • #364
  • Dec 18, 2007 9:49am Dec 18, 2007 9:49am
Lol...i notice it as well..and u mention it first. happy trade all

Quoting bobblong
Phil the Volume in Forex doesn't mean anything just so you know, maybe you can save some space on the screen
  • #365
  • Dec 18, 2007 10:43am Dec 18, 2007 10:43am
Wow, enlightening responses guys. How about being useful and commenting on the pin or the setup such as the thread title suggests, rather than what I choose or don't choose to put on my screen.

Volume is clearly not accurate or complete in forex because of it's decentralized nature but to say it "means nothing" I think is just as inaccurate. It's useful to see big spikes, like the one that occured at the nice reversal pin bar at the bottom of my fib retracement, and to see what's going on around there. I know it's only giving me whatever volume my broker has access to, but that still can be a very general reflection of the entire market.

If you can pay for a good platform with volume from a lot of different liquidity providers then volume becomes even more meaningful.
  • #366
  • Dec 18, 2007 12:45pm Dec 18, 2007 12:45pm
in my chart the open/close is within the body. its amazing tho how 3 diff charts look different. maybe its bcos of different opening/closing time with the different brokers.
  • #367
  • Dec 18, 2007 2:23pm Dec 18, 2007 2:23pm
Quoting jamesbond007700
is this a valid pb? (its actually in candlesticks) looks more like a doji.

I say more like a doji too, but could be a pin. Can possibly place sell and buy orders above/below each. Today's looking like a doji too. Indecision. Yep it hit the 38.2 fibo line yesterday. Montly pin has broken down, just not comfortable yet playing those as a lot can happen in a month.
  • #368
  • Dec 18, 2007 3:19pm Dec 18, 2007 3:19pm
Quoting Philww
Wow, enlightening responses guys. How about being useful and commenting on the pin or the setup such as the thread title suggests, rather than what I choose or don't choose to put on my screen.

Very snippy. No need to get defensive when everyone is here to help.
"Please sir, may I have some more pips?"
  • #369
  • Dec 18, 2007 6:04pm Dec 18, 2007 6:04pm
OK, inside bar for today... makes me feel better, now I like the idea of the previous bar acting like a Pin Bar... I am looking for a LONG hopefully... but going to take profit quickly if I get any... it's getting too close to Christmas and I don't feel like anything is working normally right now...
Attached Image (click to enlarge)
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  • #370
  • Dec 18, 2007 7:09pm Dec 18, 2007 7:09pm
Quoting Philww
Wow, enlightening responses guys. How about being useful and commenting on the pin or the setup such as the thread title suggests, rather than what I choose or don't choose to put on my screen.

Volume is clearly not accurate or complete in forex because of it's decentralized nature but to say it "means nothing" I think is just as inaccurate. It's useful to see big spikes, like the one that occured at the nice reversal pin bar at the bottom of my fib retracement, and to see what's going on around there. I know it's only giving me whatever volume my broker has access to, but that still can be a very general reflection of the entire market.

If you can pay for a good platform with volume from a lot of different liquidity providers then volume becomes even more meaningful.
The pin? well we're onto the inside bar now, so we'll have to see.

About the volume.. Do as you wish.. still useless, doesn't matter where you get it, even dealers at banks do not have the figures. On the other hand if you have a Euro futures chart that volume will probably be a little more useful
  • #371
  • Dec 21, 2007 10:12am Dec 21, 2007 10:12am
ok, this one has a long shadow on the top too so i dont know if this is a good example of a PB either, and it is followed by a bullish candle already so i wonder if the move has already played out or if it can go much higher. the good point is it bounced off around 8550 which in the past has acted as good support. any inputs?
Attached Image (click to enlarge)
Click to Enlarge Name: audcad.GIF Size: 42 KB
  • #372
  • Dec 21, 2007 3:45pm Dec 21, 2007 3:45pm
Quoting jamesbond007700
ok, this one has a long shadow on the top too so i dont know if this is a good example of a PB either, and it is followed by a bullish candle already so i wonder if the move has already played out or if it can go much higher. the good point is it bounced off around 8550 which in the past has acted as good support. any inputs?
Well I would say 12/20 daily candle was another doji, followed by a bullish doji with a long wick. When you have dojis like that anything can happen. Look at 3/24/06 - 3/30/06 daily candles for aud/cad. You wouldn't know what to do until the 3/29 candle happened. That would be a pin for me and at the bottom of a downtrend with a positive day which to me gives good signal. 6/29/06 is another great pin bar to me (lower low, postive bar in a downtrend)
  • #373
  • Dec 28, 2007 8:37am Dec 28, 2007 8:37am
Hello again.

I am a bit confused with this chart on CAD/CHF. Someone pointed in another thread that on the daily chart we made a Double Bar High with Lower Close. I took a look at it, seemed good, shorted it, nailed 50 pips and happy.

50 pips was nice, didn't venture anymore because I was afraid of retracement which I saw James saying it happens lots of times. So I was looking to short again at around 1.457 (which we are there now) but I took another look before sending the order.

Now I see the daily graph again and granted that the day ain't over yet it seems to be wanting to form a PIN Bar, and this is 38.2 feb retracement as you can see in the chart.

So... what hints do you use to say if this is of the DBHLC or if it is a PB on the 38.2 feb. I suppose the answer for now is to wait and see what happens, but what would you expect to confirm one scenario or the other?
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  • #374
  • Dec 28, 2007 8:50am Dec 28, 2007 8:50am
Looks like price is bouncing or stalling at the next fib line... I don't know the pair well... so what to do...??

It is never bad to take your money and run !!!

If it turns into a daily Pin... it will not be a very big one...

Look at your sig... maybe... " Sit Tight " Assuming your stop is right above the DBHLC... you will not lose much or anything anyways...

Quoting branco
Hello again.

I am a bit confused with this chart on CAD/CHF. Someone pointed in another thread that on the daily chart we made a Double Bar High with Lower Close. I took a look at it, seemed good, shorted it, nailed 50 pips and happy.

50 pips was nice, didn't venture anymore because I was afraid of retracement which I saw James saying it happens lots of times. So I was looking to short again at around 1.457 (which we are there now) but I took another look before sending the order.

Now I see the daily graph again and granted that the day ain't over yet it seems to be wanting to form a PIN Bar, and this is 38.2 feb retracement as you can see in the chart.

So... what hints do you use to say if this is of the DBHLC or if it is a PB on the 38.2 feb. I suppose the answer for now is to wait and see what happens, but what would you expect to confirm one scenario or the other?
  • #375
  • Dec 28, 2007 8:54am Dec 28, 2007 8:54am
Maybe I didn't explain well. I'm already out with a 50 pip profit.

Was just wondering what should I look for my next entry point. Long because of PB or short because of DBHLC ... confusing when you get different signals (which is why I'm out)
  • #376
  • Dec 28, 2007 11:39am Dec 28, 2007 11:39am
Well, seems to me you have done good already then... today is Friday... why be looking to get in again ??? Let the day end and see what we end up with... though again... if the daily bar ends up as a PB... it will not be a very good one...

And actually at this point, price has gone down further... you should have SAT TIGHT !!! ( I know that is hard to do !! ) Now price has gotten itself between the 200 and the 62 ema's... price will likely come all th way down to the 200... ( but maybe not today ) after that... I don't know...

But still.. you got your 50 pips... this is good... there is nothing wrong with that...!!! There is no use crying over pips you did not get... you can get them again another day !!

Quoting branco
Maybe I didn't explain well. I'm already out with a 50 pip profit.

Was just wondering what should I look for my next entry point. Long because of PB or short because of DBHLC ... confusing when you get different signals (which is why I'm out)
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  • #377
  • Dec 31, 2007 11:23am Dec 31, 2007 11:23am
here is a potential PB but since its a holiday ... be careful and Happy New Year.
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  • #378
  • Jan 3, 2008 11:00am Jan 3, 2008 11:00am
Hi everyone.

USD/JPY just made a big PB near a key support level (109) and now it is breaking the upside of the PB.

This is 8H candles, daily will look similar (although day is not over yet).
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  • #379
  • Jan 3, 2008 11:46am Jan 3, 2008 11:46am
Here's a nice pin bar. Haven't closed yet though.
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  • #380
  • Jan 3, 2008 11:52am Jan 3, 2008 11:52am
That's the problem... it hasn't closed yet !!! But I am watching this too... been thinking about this all day... hopefully we can get a daily PB... BUT also remember.. at this point it might be against the trend.......

Quoting JodyOng
Here's a nice pin bar. Haven't closed yet though.
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