Pin Bars on the Weekly charts of Equities

[1RISH]

Only one for you this weekend (weekly / 5 day scan) GPN

Thanks Cigar.


Taking one setup: Long NBD (buy@ market price on monday open).

Nice protruding pin bar, well formed with confluence, and with plenty of space to run.

Stop loss is 19.95, target is 21.50. I will watch and adjust according to how price reacts to the trouble areas shown.

 

[1RISH]

Closing nbd for a breakeven , price tested and closed below the trouble areas shown . No setups this week, very busy with exams lol

 

[1RISH]

Entering a short on SCMP, entry at market price, stop loss 17.17, target is 12.10



Entry at 15.42

 

[1RISH]

Scmp is taking off nicely

 

[1RISH]

Closed SCMP for a 10 cent loss, wasn't behaving as planned.

4 trades: 3 losses, 1 breakeven.

-2.5R

Entering two shorts on AKS and HDTL: AKS formed a good tailed pin bar (the body and close could have been better, but the resistance level which was broken was a massive pivot which goes back 20 years).

HDTL formed a nice bearish hammer (almost a pin bar, closer to an engulfish bar), off resistance.

Target for AKS is the gap fill at 7.60, entry at market and stop loss 11.40.
HDTL entry at market, stop loss 22.47, target 20.10.

 

[1RISH]

After some discussion with a trader who is teaching/mentoring me, we have decided it's now time to add a few more tools to my trading toolbox, which i've been researching and testing plenty.

From now on I will be using MACD as a divergence indicator, and will also be adding bearish and bullish engulfing bars to my setups.

Performance so far has been worse than expected, though by no means is 4 trades a large enough sample size. I am confident after a year's trades the positive expectancy should begin to reveal itself. I look forward to implementing these new tools.

 

[1RISH]

As an example of how I plan to use outside bars with the Macd: see ANW which I am hoping closes good this Friday, cracking setup IMO.

 

[1RISH]

Trailing Stop to Breakeven on HTLD, almost hitting my +1.3R target

 

[1RISH]

Placing a sell limit order on ANW, entry at 10.20: Bearish outside bar which closed under a swing high, coupled with MACD divergence. Stop loss 11.70 (150 cents). Target 8.60 (160 cents).

For AKS, I am closing the trade given price tested a recent gap fill which acted as support (note to self, gaps should be treated as s/r), for a small -45 cent loss (-0.35R)

- 2.85R overall so far

 

[1RISH]

Placing a sell limit order on ANW, entry at 10.20: Bearish outside bar which closed under a swing high, coupled with MACD divergence. Stop loss 11.70 (150 cents). Target 8.60 (160 cents).

For AKS, I am closing the trade given price tested a recent gap fill which acted as support (note to self, gaps should be treated as s/r), for a small -45 cent loss (-0.35R)

- 2.85R overall so far

Correction , my sell entry for ANW is 10.50 not 10.20

 

[1RISH]

Correction , my sell entry for ANW is 10.50 not 10.20

Order filled , price traded up to 10.55 so I'm going to assume a real trade would have had been 100% filled

 

[1RISH]

It goes without saying that taking trades this week is pretty pointless , so no setups this week , back to business next week though !

HTLD is very close to the target area , and ANW has pinged right off my sell entry area, so looking good .

 

[1RISH]

It goes without saying that taking trades this week is pretty pointless , so no setups this week , back to business next week though !

HTLD is very close to the target area , and ANW has pinged right off my sell entry area, so looking good .

I'm closing HTLD now , exiting on the ask (20.40) . This is due to it nearly being the market close and price likely to close just above a minor support level on the weekly . This gives a +1 R gain (slightly more, but let's allow for some slippage )

-1.85R running total . Let's see if my simulated equity curve can hit a winning streak ��

 

[1RISH]

Just before the market closes, im entering a new short on AEO: bearish outside bar right on the big weekly trendline, hinting towards a breakout. Entry a few ticks below the trendline (sell stop at 14.45), stop loss 15.50) target is 13.35) (1R)

 

[1RISH]

Just before the market closes, im entering a new short on AEO: bearish outside bar right on the big weekly trendline, hinting towards a breakout. Entry a few ticks below the trendline (sell stop at 14.45), stop loss 15.50) target is 13.35) (1R)

Stopped out on this one. -2.85R


entering a short on BMY, entry on retrace to 57.50, stop 60.10, target 53.00

In time I may add my daily chart fx trades, which are doing much better than the stock picks so far!

 

[1RISH]

Also entering a long trade on PRI, bullish outside bar closing over resistance, buy on pullback to 73.40, stop loss 70.11, target is simply 2:1 r/r

 

[1RISH]

Went long Friday close on a currency ETF of EURAUD. Entry on open last night , stop below pin , 2:1 r/r target

Setup is a simple weekly pin bar coupled with MACD divergence

 

[1RISH]

Also entering a long trade on PRI, bullish outside bar closing over resistance, buy on pullback to 73.40, stop loss 70.11, target is simply 2:1 r/r

Trailing stop loss on this trade to 71.40, around 0.5R

 

[1RISH]

Went long Friday close on a currency ETF of EURAUD. Entry on open last night , stop below pin , 2:1 r/r target

Setup is a simple weekly pin bar coupled with MACD divergence

Closing this trade for breakeven

 

[1RISH]

New trade long on STX , entry 4175, stop 3814, target 4881.

I also cancelled the Short on BMY as it fell hugely without pulling back