Posts Tagged pinbar trading
This is going back a while now but a trade that I had put on the 5th August - those following my Twitter feed would have seen this.
I went long AUDUSD after seeing a pinbar as you can see from the pic below.. the next day it went up and the following day, you can see that there was some retracement. In the Daily chart, it looks fine but if you actually saw what happened that day, you would have gotten spooked which is what happened to me. I saw that I was 70 points up at one stage and then
August 14, 2013
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I like pinbars as they show strong buyers (or sellers) in the market. It was last Thursday when I went long USDJPY after the bullish pinbar. The market though had been in a downtrend so it was a risky play but the market was oversold and I was expecting a bounce at some stage.
Anyway we went long expecting a movement the following day.. however, that didn't happen. On Friday, the market pushed down and when the markets opened over the weekend, the price action pushed almost to the low of
August 13, 2013
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Pinbars are usually great indicators showing strong buyers or sellers in the market. Typically, you would follow the strong participants in the markets as there is a greater chance of the price going your way if you follow them.
However, this wasn't the case for the GBPUSD forex pair on Friday. I actually placed a long on the Thursday seeing the pinbar. Now, it was a countertrend trade which is more risky and the day before, we did get a very strong sell bar. However, the pinbar as you can s
June 22, 2013
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