Those two trades gave me BE’s both…
And I missed this trade on the GBPUSD. I don’t know why I miss trades. I hate it!. It seems so stupid! the level is there, the pinbar is there… so what?
Another brief article. It basically explains a trading method equal to mine. It explains also the 50% entry trick. With some examples. Really simple. Probably the hard part of this method is finding the key levels. But with practise you can do it. OR… using Bollinger Bands you can also pick very good pinbars. I also use the RSI divergence sometimes (just for confirmation when I have doubts). Very simple, just a maximum of 4 criteria (pinbar + level + bollinger + rsi) for entry. And then manage your trades according to your taste (you can put a fixed 3R or 4R profit per trade… or use the next level as TP… or the other extreme band of the Bollinger… or some EMA…)
Two trades on the USDZAR on the same direction. On the D1 you can see that bullish movements are stronger than the bearish ones, so I expect price to continue on the range (see weekly chart) and even break the range through the top to continue until level 17.
This was a 11R trade. Really good and quick (fundamental of today was on my direction). I noticee a lot of pinbars before the fundamental on USD related pairs. But I decided to trade only USDZAR because it was working very well for me last weeks (and also because I was taking care of my nephew… :D)
You can see for example on the USDNOK a potential 10R trade, also:
And also in other pairs with USD you can see pinbars before the fundamental, so today was a very profitable day for pinbar traders.
Another great opportunity missed (I really need to solve this problem). I talked about this pair here!! so I have no excuse. As I told, on the NZDUSD there was a H&S figure on the weekly chart and the bearish movements were stronger on the D1 chart. So it’s time for selling. I put an order last week. It gave me a nice profit, but apparently there was still some bullish momentum. This week, finally, and with the support of the stronger USD… finally price did what I expected. There was even a nice pinbar to enter. Price would hit my SL, then I would reenter and make a nice 21R - 1R = 20R profit. So sad I missed. But I see that my system gives nice trades. I need to work more on my discipline, or psychology, I don’t know why I still miss trades.
I have a sell on GBPNZD. Price has rejected that level recently with pinbars on the D1 and a very strong wick also. So I waited for the pinbar on H4 and put my order. My initial TP is on the recent accumulation area. But there is still some bullish momentum (see last candle on D1, the big green one and that strong bullish movement on November), so I will be careful.
Sell on USDZAR. A really good one. Pinbar on D1 that keeps me waiting for the pinbar on H4… then I put my order an price do what I want: a candle to fill my order and then a strong movement on my desired direction. I closed with a 7R but probably this trade has more potential.
Another trade on USDZAR, probably my last trade this year (I want to stop a do some review). I need to work on why I miss trades, it’s really anoying to review the charts and see some very good trades there without taking profit out of them. Probably I need some checklist or more focus. Or probably I am trading too much, with many pairs (almost 40!!) and that’s too much information. I am thinking about using weekly and H4 charts only, or just trading the majors. Or even just trade the D1 chart…
on this one, is a buy. there is a range on the weekly. I put a sell before and I expected some bearish momentum. But the level hold price and a bullish pinbar appears. There are reasons for buy: the D1 chart shows stronger bullish movements than the bearish ones. Also on the weekly you can see those long green candles. Anyway I put my trade to BE for protection (It’s very rare to see two consecutive trades working perfectly; last one was perfect, this one… don’t know).
I had a trade this week. There is a clear downtrend on GBPCHF. On the D1 you see a pinbar on the initial part of the new trend (a very good signal) supported by horizontal and dynamical resistances.
After price broke an horizontal level (D1 chart) I waited for the retracement to sell. There were 2 pinbars on the H4. The fisrt one is not good (the wick doesn’t touch the level, I want to see the wick of the pinbar protruding the level). The next one is better and it gives a nice 11R profit.
New trade on GBPUSD. There is a clear downtrend (see weekly and D1). And a clear level on D1 (blue thick line). On H4 you see how price breaks that level a retraces back to it, giving a nice pinbar (a bit small) so I entered with a short position. Price is going downwards withous retracements, except for a big pinbar that warned me about a possible area of rejection (blue coloured rectangle). So after that pinbar I moved my SL above it for a 4R guaranteed profit. Fortunately price went down and now is working on that special area of buyers. I want price to break it and go down until the next D1 important level (that would be a 28R profit). If price break the area, I will move my SL to a 8R profit, wait price to retrace to the blue area, look for a new entry there, or just moving my SL if new big red candles appear.
The Pound seems to be beating the Euro for now, but the EURGBP is really consolidating between the 55 day EMA around the 0.8541 level and the 200 day EMA around the 0.8412 level.
My analysis on the weekly chart is this:
So I would wait price to get to 0,83-0,84 and see either a strong breaking of the level for a bearish bias, or some false break or trap there for a buying bias.
EUR/GBP bounced off 0.8450 after forming a hammer candlestick and a spinning top candlestick on the daily time-frame. Next target is likely 0.8600.
G’day bro. You have a nice thread happening here but it is about to be hijacked by these trolls. Might pay to add them to your ignore list to prevent this.
Indeed … it’s a huge shame that threads like this can constantly be interrupted by people pasting in the same random nonsense they paste in all over the web (and that the moderators won’t do anything about it 
). But the “ignore list” is one possible solution, which can minimise the annoyance.
So they’re trolls… thanks for telling me.
Well, this week my GBPUSD gave me a 10R profit. The 4R trade was explained before. Price hit my trailled SL. But I think it would have been better to take profit on the H4 area of support (that is a 10R profit). Anyway, you have to deal with this kind of frustrations when doing trading. I was waiting for price to break that zone. Price did what it usually do: what it wants to do.
There was another level given by the big H4 pinbar. So I tried a sell entry after price broke this level. This is not an usual entry of my system, but I tried and it worked. I put the TP on the thick D1 level (the most important for this week). And I got another 6R trade. So I finished with a 10R on this pair.
This is the other trade of the week. It is still open. It is perfect. You have a clear downtrend on the weekly with a zone (blue rectangle area) acting as resistance. It was broken on October with a very strong movement. That means this area is strong so you have to expect a strong resistance reaction. Then, on the D1 you see price broke that zone upwards with a ver strong movement that started on the thick blue line. Price didn’t hold and fall again resuming the big downtrend of the weekly chart. That failled atempt to broke the level to begin an uptrend is a clear sign that bears are very strong.
This week price broke the blue line and it gave me a nive pinbar on the reversal. This pinbar is PERFECT for me, usually if the previous candle is a big candle that pinbar means there is enough bearish momentum to stop the bullish force of that previous candle. And if the body of the pinbar is red, even better. It worked very well and I hope it will reach the next D1 level. You see there is some rejection now (don’t know if that’s a technical signal, or just people leaving the markets on friday). I have a guaranteed 5R on this for the next week.
I had also a -1R on the USDJPY. This is an example of how my losses look like. After the pinbar, the next candle touches the SL, end of the story. So I can put another trade on the next opportunity. If price is doing noise around the entry point, I usually put to BE and forget about it. I want momentum, either on my direction or opposite. But I want to see price moving.
Trade on USDCAD.
You see on the weekly that price was going upwards without momentum (very slowly). It made a double top figure. After the double top price dropped strongly. you see on the D1 chart that the current downward movement is stronger than the previous one (it has more momentum). Price is now inside a range so my TP is on the other side of the range (I want price to test that level). I waited on the H4 for breaking some level, with a retrace to it and the pinbar. I have put it on BE already (don’t know if I am being too cautious…). My TP is a 6R for this one.
Trade on AUDJPY
This is SO beautiful…
It is a reversal one, so I used RSI + Bollinger indicators (I remember you my checklist: 2 waves, the second one with RSI divergence and price reaching the BB external band). It would be better if the pinbar wick protrudes the BB. But, it was closely… I took it.
Analysis: on the weekly you see a pinbar 4 weeks ago from a very important level of resistance. So the bias is to put short positions. On the D1 you see a reaction last week to a horizontal level, also a sign of bearish momentum. So you have to wait for a nice pinbar on the H4 pointing downwards. It’s a reversal so you can put your BB + RSI for confirmation. I was conservative with a TP on the level, that is 5R profit, but you see that price is still going down!!!. I need to work more on this, I usually let profits on the table (even 20R on profits!!). My logic is OK, but I still enter and exit quickly, I need more patience on my exits. My TP is usually the next D1 level. But I need to work out some rule about what to do when price reach that D1 level, and, insted of exiting… decide if continue with my position or not (probably just see if price makes a rejection there? don’t know… still thinking about it).
I have just finished this trade on EURSEK, don’t remember if I put it here when I entered.
It is very simple. A downtrend on the weekly. The D1 is very clean: price breaking several D1 levels… so the trading idea is wait for the pullback and the pinbar on H4. I entered as usual with the limit order and took profits on the next D1 level. That is a 10R. Don’t know how long this downtrend will last. There is a very clear weekly TP level, so probably price will go until there. No idea.
