Hi…What are the recommended MA for the Daily & weekly setups for Pin Bars?
Sorry I know it will be covered somewhere but the whole thread (@FF) is very daunting. However the bits I have picked up on so far I am liking very much.
I know what you mean! It’s a mammoth task to read it all but truth be told you only have to read the first few pages to the gist, read the summary posts and then follow the thread. You may miss a few gems but that’s more than enough to teach you the theory.
Anyway, they often use a 150EMA as support.
If I am not wrong, the MAs are EMA 150, 200 and 365. 
Yep, that’s right.
In the early parts of the thread they also used pivot lines, but that seems to have faded away.
Pivot lines? As in PPZ?
No, ordinary daily and weekly pivot lines, P, S1, S2, S3, R1, R2 and R3.
Without PPZs there wouldn’t be any J16 
I was gonna say!
I’ve never been too convinced by pivots - I always have the daily on my chart but there rarely seems to be any adherence to them, unless they happen to coincide with a Fib.
I’ve noticed the same thing. I suspect that it has to do with the 24H forex trading day - how to calculate that pivot…
I imagine it works much better in stocks and futures and other 8H trading day instruments.
In the early parts of the thread they also used pivot lines,
Ive never used pivot points (floor trader style) I do however use price pivot zones.
Ive personally added quite a few ma’s to the mix and have evolved my trading to a certain degree so that I cannot call it j16 trading I do however rely on all my j16 price analysis for a long term perspective as well as short term price action including price levels.
I am at present exploring the use of bollinger bands but I havent decided how effective they are in a trending market.
They can be used to identify trend in what side the price is on but any ma shows you that.
I’m fond of using ma’s as floating support and resistance. I use a whole mess of them 5,10,21,35,50,150,200 I got my ma ideas from Ken Lee and if you want more info he has a thread where he describes in great detail the use of these ma’s
hope you guys are doing well, John
Nice to see you around!
Nice to see you around!
thanks nice to be back
If i’m not mistaken there is lovely Bull pin bar forming on the GBP/CAD daily.
johnnykanoo - Do you have link to the MA thread you referred to from Ken Lee
Ellave,
Feel free to stick up a chart showing what your broker feed has on it. Here’s mine but there’s no pin showing on it:
Here’s mine. What I see is a morning star forming, middle bar looking pin-ish. It doesn’t look like your chart Matt. FXPro is GMT +2 and no Sunday bars, what broker do you have?
Mine looks like Matt on IBFX demos…It is also bouncing off resistance from around the 11 Nov. However I now see that the eyes aren’t as level as they should be, is that what’s stopping it being a true A rating PIN.
Very new to these methods, so appreciate your comments. Its difficult to post charts as currently at work & cant access trading software from my work PC. Luckily enough I have a sneaky ADSL laptop on my desk.
I can only speak of what I see on my chart:
1.75 is a major PPZ (zone where price will tend to flip) and price is just below it right now. If it breaks above that, retests the level successfully, I’d consider a long trade on the pair.
Looking at lower time frames it looks like price might be stalling below 1.75, so i’d want that break and retest to confirm.
I’m no expert either though, just my 2 cents.
Make sure you have a look at the original thread if you haven’t already: james16 Chart Thread @ Forex Factory
There’s a lot to learn there.
Mine’s GMT and that image includes Sunday bars.
There’s the difference then.
There’s several things making the pin not ideal. Firstly it doesn’t stick out very far - we’d want to see it protrude a lot further, secondly the size of the bar is not large - normally we want a bar that is as large or larger than those preceding it and although this isn’t a bad size, the bigger the better; thirdly it’s not at a major swing point, but rather a minor swing point. On the plus side it’s a double bounce from 12th Nov.
Also the way to trade these is a break on the high of the pinbar - we don’t wait for the third bar to form. Rather this is a 2 bar pattern and as soon as we see the pin bar we can place an order for the break. If the third bar violates the pattern by dropping past the end of the nose without triggering the order then we would cancel the order.
Although this isn’t an A+ trade, it certainly could have been traded and I would expect price to reach around 1.7445 before reversing and continuing the downward trend.
Thank you both for you insight, both makes a lot of sense. I have found it hard to find any Pin bars in the daily & weekly in the month or so I have been looking, so gets exciting when I (think) spot one.
I am working my way through the main thread on FF, only about 3320 pages to go!! :eek: