Pin Bar System

Should Pocrel trade the "pin bar system" live again


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Pocrel have you ever used this method on individual stocks

drawing your own supports and resistance lines and waiting for daily pin bars to cross?

Attached is just a recent example of morrisons
 

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Pocrel have you ever used this method on individual stocks

drawing your own supports and resistance lines and waiting for daily pin bars to cross?

Attached is just a recent example of morrisons

I traded this in the live room this morning, let me know if this answers your question, just not using daily time frame but 30min

audusd.gif
 
I traded this in the live room this morning, let me know if this answers your question, just not using daily time frame but 30min

View attachment 125268

In regards to your own S/R yes thats what i mean, but regarding individual stocks in the FTSE on the daily time frame there is two reasons i am looking in to this,

1) on the daily timeframe it is easy to trade with your day job but with the 30M indices and forex you need to be at the computer from 7-5 daily...

2) If you haven't got 10k that you are willing to risk you can trade daily stocks with as little at £500/1k as many of the stocks are you only risk 5-20 pips per trade

so just wondering if you had ever looked into this also?

Thanks
 
In regards to your own S/R yes thats what i mean, but regarding individual stocks in the FTSE on the daily time frame there is two reasons i am looking in to this,

1) on the daily timeframe it is easy to trade with your day job but with the 30M indices and forex you need to be at the computer from 7-5 daily...

2) If you haven't got 10k that you are willing to risk you can trade daily stocks with as little at £500/1k as many of the stocks are you only risk 5-20 pips per trade

so just wondering if you had ever looked into this also?

Thanks

I have had the same thought as you for a while now. Just can't find a pin bar screener for uk stocks. Don't fancy clicking through hundreds of charts every evening!
 
Sharescope is a pretty efficient and good value programme if you only want EOD candlestick patterns.

From there, to find tradable pins in the UK market, you would only have to review a few dozen charts - the most tradable stocks are in the FTSE350, and you might find the largest caps, in the FTSE100, have lower overhead in terms of bid/offer spread. The majority follow the general direction in any given week of the main FTSE100 index, so you could eliminate those that are contrarian to the index and let it give you your cue. There's probably 50 of the 350 worth a look on any given day and if you can't find a well set-up trade with reasonable r:r from one of them, just let it go until the next session.
 
In regards to your own S/R yes thats what i mean, but regarding individual stocks in the FTSE on the daily time frame there is two reasons i am looking in to this,

1) on the daily timeframe it is easy to trade with your day job but with the 30M indices and forex you need to be at the computer from 7-5 daily...

2) If you haven't got 10k that you are willing to risk you can trade daily stocks with as little at £500/1k as many of the stocks are you only risk 5-20 pips per trade

so just wondering if you had ever looked into this also?

Thanks


No Kingdom, I never look at stocks, I have enough things on my plate but no reason for it not to work on stocks but please do your back testing before putting any money on the line

Just back watching now after lunch and eurusd has retraced into an interesting area, if we can get a pin bar formation at these levels I will be get long eurusd

here is the chart

eurusd.gif


nothing else on radar for the min but everything pulling back nicely for some long positions to develop
 
Heads ups on some trades, watching either eurusd or audusd for long positions charts and trades to follow if it happens on the 30min
 
looks like a good call Pocrel, only just got on the computer so iv missed the boat, the pin bar also lies on the 61.8% fib point
 
Finished for the day, great day in the journal and even better day in the Live Room

Daily round up

2 trades

+56.5 points

+£352

Portfolio balance : £10383


Back next Monday
 
Morning, hope everyone had a nice weekend? I will do my best to get some live trades on the journal today (y)

Monday is never easy as you can get alot of bad readings from the charts due to news over the weekend and missing information on my charts but I will do my best to analyse them
 
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