Pin Bar System

Should Pocrel trade the "pin bar system" live again


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Not sure if @pocrel is around much these days, but this is a system that can make money. I found you have to be very very picky though and let some of the trades run for several days and it leads to taking as little as 4-5 trades a month, which does not really fit in with my personality.

Perhaps i'll post up some examples going forward because i don't think this thread should die.
 
chart of the day

eur/usd

EURUSDH1.png
 
Glorious Oil

Wish I had posted this live today but have become a little rusty on here, but been reading the market extremely well lately and this was a beauty.

Couple of reasons for the trade:

1/ very oversold
2/ took out yesterdays low
3/ very tight wedge and when we took out the low with no real selling pressure you could just feel it was going to explode up

OIL-DEC14H1.png
 
Wish I had posted this live today but have become a little rusty on here, but been reading the market extremely well lately and this was a beauty.

Couple of reasons for the trade:

1/ very oversold
2/ took out yesterdays low
3/ very tight wedge and when we took out the low with no real selling pressure you could just feel it was going to explode up

View attachment 180704

Brave man trading oil on hourlies. I can only manage courage for 5 minute charts
:D
 
Brave man trading oil on hourlies. I can only manage courage for 5 minute charts
:D


Fair has no place in a traders mind Neil, get rid of it and its a different world my friend obviously easier said than done but try not to fair anything one mans fair is another man opportunity :)
 
Fear is fair

Fair has no place in a traders mind Neil, get rid of it and its a different world my friend obviously easier said than done but try not to fair anything one mans fair is another man opportunity :)

Stay away from the booze P. It's "FEAR" not "FAIR."

Seriously though, I keep oil, dax on five minute charts and a couple of Forex pairs on longer time frames but my approach to trading is akin to yours.
 
Stay away from the booze P. It's "FEAR" not "FAIR."

Seriously though, I keep oil, dax on five minute charts and a couple of Forex pairs on longer time frames but my approach to trading is akin to yours.

Hi Neil

Do you use pivots and/or pin bars ?

Andy
 
Pivots, trendlines and round numbers are a good piece of confluence.

Nial fuller shared a lot of setups for free as well.
 
I started reading this thread up to page 40ish then jumped to the end, it seems to have gone from 30min charts using PPs and pinbars to previous weeks high/low with pinbars is that correct? thanks
 
I'm going to keep this thread going as I think its a shame it died out.

**** NOTE I WILL BE TRADING THIS ON A DEMO ACCOUNT******

Will post up charts and screen shots of demo statements.

Im adding my own twist to it.

1 hour chart and daily chart (for s/r levels) only. No lower.

The entry is your standard pinbar entry format (enter on break, stop just above/below the tail)

Obvious swing points (OSP)
Pivot Points
Relevant Fib Level.
Previous Days high.

The pinbar must form across at least 2 of the above technical concepts.

Whether or not you trade with or against the trend is down to your own discretion.

2% per trade (on a 10,000 demo), max 1 trade on at a time, will prob only be about 3-4 trades a week.

Last 8 trades using this displayed below.

223478d1461832973-pin-bar-system-fe4b983b-bc81-4df3-ba6d-c3089850f3bc.png
 

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The process will be to scan the charts at the top of every hour looking for pinbars, then will look to see if the pinbar has formed across any of the listed technical concepts.
 
Here's the GBP/JPY fromyesterday.

Pin bar at previous days high. 100-% fib level, S/R level, (previous highs out of view to the left of the chart)

Sold at 162.45 with a 45 pip stop
Bought at 161.79 for +66 pips


shame I didn't leave it over night though!

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