When I started learning
about pin bars, I just traded them without the knowledge that I have to check the trend, I was frustrated because I did not know what was I doing wrong until I realise that one should pay attention to the trend.
It isn't
about pin bars or head and shoulders patterns.
Studied Nial Fuller's Price Action until I dreamed
about Pin Bars and Fakey's.
Many time, I wonder
about pin bar.
m very excited
about the pin bar trading strategy... your teaching is very simply with exceptional clarity.
How to trade with pin bar set up, so far I know
about pin bar.
How to trade with pin bar set up, so far I know
about pin bar.
Before we get into all the juicy details
about pin bar entry and exit strategies, we -LSB-...]
You should refer to Martin Pring's solid work on technical analysis to learn more
about the pin bar and other bar patterns.
Not exact matches
Note the 50 % limit sell entry that presented itself as the next
bar retraced to
about 50 % of the
pin bar's length before the market fell significantly lower...
It is possible to make consistent profits by only trading the
pin bar formation, and you can learn more
about it in my price action trading course.
Look for well formed
pin bar setups that meet all the characteristics listed in this tutorial and don't take any that you don't feel particularly confident
about.
So, in a downtrend like we see below, the stop loss would be just above the tail of the
pin bar, when I say «just above» that can mean
about 1 to 10 pips above the high of the
pin bar tail.
Naturally, we would want to place our stop loss just below the tail of that
pin bar to make the market show us that we were wrong
about a bottom being in place.
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Pinning!
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We've already talked
about dumbbells (don't drop them) and barbells in the squat rack (bail correctly, don't just drop a
bar onto metal
pins).
So, let's say
about a 120 to 140 - point target and I'm going to place my stop well below the low of today's
pin bar which is below 1.6640, I will try to get it well below 1.6640 somewhere down around here.
3) The next important thing to note on the chart below was that as the market tested the event area when the
pin bar sell signal formed, it reversed yet again, because the market didn't «forget»
about that event area...
Naturally, we would want to place our stop loss just below the tail of that
pin bar to make the market show us that we were wrong
about a bottom being in place.
So, in a downtrend like we see below, the stop loss would be just above the tail of the
pin bar, when I say «just above» that can mean
about 1 to 10 pips above the high of the
pin bar tail.
Personally, I like to trade fakeys where the false break
bar is a really clear
pin bar (like the one we have in this example), but there are 4 different types of fakeys and I expand in more detail
about this in my trading courses.
Your stop loss is placed just below the low of the
pin, if you enter at the
pin bar closing near $ 1175.00 your stop loss will be
about $ 20 / oz because it would be near the low of $ 1156.35, we will say $ 1155.00 to make it an even $ 20.
In the last video I talked
about the bullish signals that were forming on the daily chart, we can see in this current video that a bullish
pin bar / inside
bar combo formed on the daily AUDJPY chart.
Next, we are looking at a EURJPY fakey
pin bar combo signal that took
about 10 days before it really got surging higher.
Note the 50 % limit sell entry that presented itself as the next
bar retraced to
about 50 % of the
pin bar's length before the market fell significantly lower...
Being patient while trading with price action goes something like this: you see what looks like a decent
pin bar formation but it is going against a rather strong trend, because you know that this setup has a much lower probability of working out than a
pin bar setup with a strongly trending market, you sit on your hands and pass it up, don't think anymore
about it, even if it works out it does not matter because you just exercised patience, and you will be rewarded for it the more you use it.
But, when it did start falling finally, it fell like a rock and eventually tested the key support down near 169.35... a move of
about 800 pips from the low of the
pin bar!
Pretty good your explanation
about what is a
Pin Bar.
If you read last week's USDJPY commentary, you may recall my comment
about the relatively small size of the
pin bar.
I talk
about placing my stop loss just below the
pin bar low which is the typical stop loss placement on a
pin bar setup.
Now, after
about 4 days went by, a very obvious fakey /
pin bar combo setup formed showing rejection of the 8 day EMA support level and implying that price might continue pushing higher in - line with the uptrend.
Note the
pin bar marked on the chart below, it was an obvious
pin bar that showed forceful rejection of a key resistance level, and then the market chopped around
about 6 days before finally moving lower.
Note that the move lower from this
pin bar signal took
about two full weeks to play out, and the first week price basically consolidated sideways and drifted higher up the
pin bar's tail.
Think
about it — where are the best
pin bars — at support or resistance areas.
While we have been on
pins and needles
about this film for almost a year, hoping against hope that it will be able to meet the
bar set by Pacific Rim at the very least, this trailer will put your mind to rest.
If you scan your fingerprint, or enter your Samsung Pay
PIN, then you will feel your phone vibrate with a pulsing rythm while a semi-circle status
bar and animated waves appear above the card for
about 15 seconds.
Something that I do like
about Internet Explorer 9 is «
pinning,» the sticking of a web page to the Start
Bar in Windows, granting the ability to jump back into the site quickly.