Pin Bar System

[pocrel]

short cac40 here

sorry guys that happen so quick





out for +29

damn that was so quick

 

[pocrel]

sorry guys that happen so quick


View attachment 106250


out for +29

damn that was so quick

sorry not sure why the other chart is in there

the reason for that huge sell off was :

EU Energy Chief says possible catastrophic events in next hours

 

[pocrel]

just to show you the strength of these Pivot Point levels

take a look were the eurjpy trade i took this morning went to and bounced

 

[pocrel]

i think that will do it for me today

totals :

5 trades

+96 full points

catch you tomorrow any questions please shoot

 

[pocrel]

Gold is signalling here order to buy break of the top of pin

 

[pocrel]

Gold is signalling here order to buy break of the top of pin

chart


i am not taking this trade as i am done for the day but this is a great example of a pin bar
good luck if anyone takes it or if not keep an eye on it

 

[DDI]

Hi Pocrel,

Wouldnt gold be a buy based on your system? Attaching 30 min. (btw I still dont know the meaning of PIN bar but have feeling its similar to hammer and morning/evening stars on candlesticks)

Also on 10 and 15 min TF you will see bullish divergence as well (stochs, RSI)

 

[pocrel]

Hi Pocrel,

Wouldnt gold be a buy based on your system? Attaching 30 min. (btw I still dont know the meaning of PIN bar but have feeling its similar to hammer and morning/evening stars on candlesticks)

Also on 10 and 15 min TF you will see bullish divergence as well (stochs, RSI)

hey bud, i just got the chart in before you well spotted i think you are use to my system bud

i will leave it as i am finished for the day but a great signal

how are you doing today??

 

[redart]

i think that will do it for me today

totals :

5 trades

+96 full points

catch you tomorrow any questions please shoot

Awesome start!

 

[DDI]

hey bud, i just got the chart in before you well spotted i think you are use to my system bud

i will leave it as i am finished for the day but a great signal

how are you doing today??

hehe yes we were posting them at the same time.

I had an ok day. 2 trades (-15 and + 49) posted on live trades. but lost on oil (which was a shame as I was contemplating taking +50) just before the EU energy chief spoke, but reversed and came out with -30. (but cant complain as the +49 came from same spike as oil loss)

 

[pocrel]

cheers for the support redart for the compliment

not a bad day DDI for you so, oil has been so volatile, i missed an entry on it but it would have been a breakeven trade for me

better luck tomorrow, i think becareful this afternoon as if this reactor blows anything could happen

cheers for dropping in guys

 

[pocrel]

well just got back in and see the GOLD trade never worked, i just want to go into a bit about position sizing
basically with a big pin like this you should only be in the max risk you are willing to use on any one trade, for me its normally 1 to 3% of my account size so no matter how big the pin was i would only risking that so position sizing is key, please bear this in mind when taking a trade

 

[pocrel]

i just want to show this aud/usd chart as an example of what someone would not classify as a pin bar but to me it is a good enough bar to take a short entry on this trade

View attachment 106226

1/ the bar slices the daily pivot
2/ strong close of the bar
3/ close is below the open

not a pin bar by definition but just a personal judgement bar

here is the completion of the aud/usd trade we never took but a great exmple today

 

[pocrel]

euro short flagged

forget it sorry us market closes now

 

[pocrel]

morning all, morning prep is done so i am looking for setups, lets hope we get a good day today, looks like the markets went a bit wild over night again

 

[pocrel]

Gold short flagged:

1395.5 stop 1399.0 target 1390.8

if we fail to get an entry after this next 30 min bar close then i will cancel the short order


chart

 

[pocrel]

i think i am going to have a little early warning system,

i will just say: TRADE FLAGGED and then the instrument short or long

and then fill in the details of stop, target and chart




selves

 

[pocrel]

Gold short flagged:

1395.5 stop 1399.0 target 1390.8

if we fail to get an entry after this next 30 min bar close then i will cancel the short order


chart
View attachment 106296

Gold has broken up and broken the pin bar so

order cancelled on short gold

 

[pocrel]

Trade flagged: gold long 1399.3 stop 1397.0

 

[pocrel]

Trade flagged: gold long 1399.3 stop 1397.0

order pending for gold long

target is 1403.6

chart