Just in case the prior poster didn't read or forgot to read...you did say the following in your opening statement. I underlined something you said in your above quote. Out of curiosity, what type of feeback and advice are you looking for from price action traders if all the charts you show look like winners? Thus, you don't need any advice (seriously). You having problems with this particular method and you're looking for feedback in helping improve the method you're showing? Maybe the thread doesn't have a specific focus and that's why there's not much participation or interest. I mean, if you're only going to post charts of Pin Bar methods...why not just start a new thread on that specific topic called Pin Bar because there are already many threads here at EliteTrader.com where price action only traders specifically started a thread about a method they're using....some of those threads are in-depth with over +50 pages in participation with tons of examples. Thus, you're asking too much for those traders to come into this thread to repost the same info. However, I don't remember seeing any prior threads on Pin Bar methods. That's why I'm suggesting you may get more participation if you start a seperate thread on that specific topic. If you do...throw in some Pin Bar setups that resulted in losses to keep the thread at equilibrium. Mark
Scanning stock charts looking for pins, I find that this method would be rather hard trading stocks. Of the thousands to choose from, you have to find these pins before its too late. FX is better, for there are only a few major pairs to follow, and they seem more common in fx as well. kon
Would this qualify as a pin?..i found this one on one of my fork trades i posted here on my fork thread (check it out! ) . This is a weekly bar.
konviction, The bar in question would qualify as a pin bar; it has a long protruding tail/wick, and the open and close both appear to be within the range of the previous bar. However, there is not much "space" around the tail and the surrounding price bars. Ideally I like to trade pin bars that are showing obvious rejection of some price level. Rejection of a strong horizontal support/resistance level or 50% retracement or trendline usually work the best. The more confluent levels the pin bar is rejecting the strong the signal. That being said the pin bar in your chart is a pin bar but not a very strong signal, I would not take this setup. Where the pin bar is located in the context of the recent price action is equally, if not more, important than the actual pin bar itself.
Current trade setup. Hopefully this will give everyone some insight that keeps reaming me for not posting "live trades" this is a trade setup I have currently waiting for entry. I will post up the results after this plays out. This is how I trade inside bar setups. Inside bars are pretty much an awesome way to trade price action. Daily chart of GBP/JPY