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Pin Bars.

  • Post #1
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  • First Post: Aug 21, 2006 11:00am Aug 21, 2006 11:00am
Hi everybody, I've been hearing more and more about pin bars. There was actually a chart on here showing what they were not too long back. THey seem really effective most of the time. Like 60% of the time they work all the time. Could anyone elaborate on what the parameters of using them are?
I dream, therefore I become.
Quoting mike w
Hi everybody, I've been hearing more and more about pin bars. There was actually a chart on here showing what they were not too long back. THey seem really effective most of the time. Like 60% of the time they work all the time. Could anyone elaborate on what the parameters of using them are?
Instead of me trying to explain it, go to this thread. You will learn a WHOLE bunch.
http://www.forexfactory.com/forexfor...6+chart+thread
JOHN 3:16
Hey thanx renasdad
I dream, therefore I become.
  • Post #4
  • Quote
  • Last Post: Aug 21, 2006 3:55pm Aug 21, 2006 3:55pm
When I trade a pin bar I first go back to 15 minutes chart and see the reason behind that stem.. if its because of a news spike or something I dont trade it.. those are the 40% of pin bars that fail IMO.

This only applies to daily pinbars and not pin bars on 5 minutes, 15 minutes..

One more thing I look for is that the stem should have retraced from a resitance point.. like a passing MA or trendline etc.. it says that the resistance has worked and its reversal now..
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