Archive for the Trading Category
A lot of my trades have been off pinbars. Pinbars are great in that they show where there was some strong buying or selling. This gives you a clue as to what may happen next so it could potentially be a good place to place a trade in the direction of the pinbar and a stop underneath the wick. I’m writing in the context of bullish pinbars here but the same is true for bearish pinbars.
All my trades with pinbars are off the Daily charts.. I don’t trade the intraday timeframes as I want more t
October 19, 2013
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I was long Crude Oil earlier this week after it had formed a pinbar on a support line as you can see in the above chart. The price action unfortunately has not managed a sustain move upwards. In fact, everytime it has, it has been pushed down. On Friday, the price made another go at heading north but again, got pushed down.
I'm still in my trade and anything could still happen but I'm starting to feel that it's more bearish than bullish particularly after a strong push down when the marke
September 28, 2013
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I just went long on the USDCHF pair... if you click on the picture above, you can see it more clearly. The price has now hit a support line which was a strong base at the beginning of the year. The price had hit this year on a couple of occasions and it's worth a punt!
The negative aspects of the trade is that the price is looking a tad weak and we have gone long as the market is trending lower so we are indeed trading this as a countertrend play.
However, the risk is low.. 30 pips w
September 23, 2013
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