Thexder's journey to(ward?) freedom

Pin in a pullback makes for a good with-the-trend price action setup. It exploded into profit of around +75 in no time and allowed some profit lock in.

Patience pays off

Failure to make a new low while giving a bullish reversal pattern.
No retracement came back to threaten the entry level so it is a maintenance free trade still in play with profit locked in.

Trades in progress

Only trade still on is EUR USD daily bearish outside.
Currently up around +200

Two bar reversal up through resistance

Hi Thexder,

I am not familiar with this pattern. Is it the two bars circled or the 2 red bars after the green bar?

The 2 circled. Another way to look at it is a 2 bar pin, but the more ideal the 2 bars look, the better. The first ideally opens low and closes near the other extreme, then the next opens there and retraces back almost symmetrically. This one wasn't the most ideal but I combined it with its location at resistance and took a chance.

Currently up +300 on two bar reversal at resistance

I took this trade too. But when I brought my SL to BE..cushion of 40 to 50 pips. price retraced through it. So I was stopped out. Then a few hrs later price dropped like a rock. I was asleep.

Saw this setup stand out without much effort and thought this is the best kind of setup, one that doesn't require searching and trying to justify finding it.

Caught a runner

Found a reversal to take

Good start to a week. Letting it run.

Short

Hi Thex, always admire your works and motivation.
What pairs do you trade? From your entry at Pin Pattern, do you put your initial stops at the high of the pin bar? I see it can be a large drawdown..How do you manage it?
Thanks

A few more reversals breaking free of sideways bar congestion, holding over weekend.

I used to just watch every single chart my broker had and just watched for these setups but lately I try to minimize what I watch to make it easier. My main charts are always GBP USD, EUR USD, USD CAD, NZD USD, and then on the side I keep an eye on USD CHF, GBP JPY, and EUR JPY. The rest doesn't much interest me right now. All of the AUD based charts seem to just move too sideways for me, as if they move in waves but the bars are almost parallel and it's hard to find a good setup that stands out.

The initial stops are on the other extreme of the bar setup and the large size doesn't bother me because I never go into it expecting I'll have to suffer it. I just focus on finding that setup, trading the break and then monitoring it so I can set at least for break even when it gets near an expected obstacle (where it might reverse and then who knows what will happen). One way to put it, I look forward, not back, when I get into the trade. I expect I will have a high probability of success in making it to my target so I can protect myself rather than worrying about risk/reward and taking trades that take the stop into account. If I take 10000 trades where I exit for profit on most of them that is only 10% of my initial stop, with the occasional big runner, I'm a winner. I rarely get stopped at the initial stop without first having reached one of my targets so if I take a loss after that, it's my own fault.

In the chart I just posted for trades I'm holding, you can see I was in a day of draw down Thursday after the setups were entered, but they never got stopped because the stop is in a logical place and now I'm way into profit. That's all I care about. Giving it my best analysis and knowing it works.

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Hi Thexder,

While a picture is worth a thousand words, a few by you would be helpful.