Pin Bar System

[pocrel]

Good work, how come you dropped the pivot points?

Still very similar to how I trade, however I like to see the pivot points coincide with what I determine to be major s&r levels.

The reason I dont use pivot points anymore is because I have been looking for fewer trades and its much easier to setup alerts for the pwh pwl

floor pivots are still fine if you want to use them and can be good for working out daily price movement and range (especially for index and commodities)

forex I think can give alot more mix signals so best to stick with pdh pdl pwh pwl levels as pivots for this

and here is the gbpusd chart follow up from earlier (lovely example today)



cheers ffsear

 

[neil]

Good work, how come you dropped the pivot points?

Still very similar to how I trade, however I like to see the pivot points coincide with what I determine to be major s&r levels.

Yes - I agree. s&r -pivots(s changing to r)-Fibs -Pins-engulfing bars etc...in other words price doing something at certain points such as swing highs etc thus avoiding blindly taking trades based on random location of various price patterns

 

[ffsear]

Gbp jpy

 

[pocrel]

Gbp jpy

Loving the trade ffsear

did not have the same clear setup myself last week but rode the audusd for 300 pips

the power of the reversal into the pwl and pwh are great setups

 

[ffsear]

Cheers, Im on USDJPY today - short at 96.69

 

[pocrel]

Cheers, Im on USDJPY today - short at 96.69

I have had nothing, the audusd short happened late last night my time so been bored all day

good luck with that trade not at a level for me

 

[ffsear]

Stopped out for break even

 

[pocrel]

trade of the week ffsear

eurusd

 

[rsh01]

very much so but with a slight variation to the levels I look at now

I only look to play the previous week low or high for my trades

here is an example today:

View attachment 164790

do you understand that h1 & m5 are the only arbitrary time measures available to humans........sweet.

 

[rsh01]

trade of the week ffsear

eurusd

View attachment 165368

what sell at yest's (as per chart) high? thats a great h&s (or quasimodo if you are familiar of NBT).

 

[pocrel]

And again this week

 

[ffsear]

Nice one, think i was fast asleep!

Today.. GBPAUD

 

[body77]

hello everyone, I saw this tread and I think is very useful!! Pocrel where are you??

 

[ffsear]

He's about from time to time, I think he travels a lot.

 

[body77]

I hope this tread will go ahead, was interesting and profitable...!!!

 

[neil]

I hope this tread will go ahead, was interesting and profitable...!!!

How do you know ?
Have you traded the method?
How many trades did you make to claim his method is profitable?

 

[body77]

I know cause sometimes I used to trade with pinbar, of course not all are goods trades sometimes i lose money too!! anyway most of winning trade depends where pinabar are, like support, resistence,key level, Fibo...

 

[ffsear]

Hey Pocrel,

Do you use this strategy when a PWH gets broken and then acts as support ? See here on NZD/USD

 

[barjon]

Hey Porcel,

Do you use this strategy when a PWH gets broken and then acts as support ? See here on NZD/USD

dunno about porcel, but i go double position when my swing low bar looks like that in that position (i'm not on forex, of course ).

 

[neil]

Hey Pocrel,

Do you use this strategy when a PWH gets broken and then acts as support ? See here on NZD/USD

Support turned resistance,where Pin is located on the new support, is a favoured way of trading. It validates the pin as being stronger than any old pin in any old location.Pins are usually traded at swing high/lows, as are engulfing bars. Such patterns at other locations (for continuations) require more experience and a readiness to change ones' mind in an instant.