Posts Tagged pinbars
Following on from my article on the pinbars to trade, i thought it would be a useful to identify some pinbars which are not good to trade. Hopefully between that article and this one, you’ll get a better idea of what is defined as a good one to trade and what is a bad one and hence avoid.
Pinbar against a strong trend (unless its a Massive Move Pinbar - see http://www.makemesomemoney.co.uk/select-pinbars-trade/)
Sometimes you see a 1 day reversal in an underlying trend.. quite often this is
October 22, 2013
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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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On the 4th of February we saw our first bullish pinbar and I went long at this point. I knew that there was some resistance at 3220 but the underlying trend looked bullish. The next day the price did go up around 30 points and then again, we got another bullish pin (two pinbars, surely a very positive sign) off the moving average. At this point I was expecting a huge move up but the following day we got a strong sell day.
My trade is still in and my stop is at 3115. I really don't know where
February 10, 2013
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