Trading Extreme Pin Candle Stick Bars

[Freddie]

Hi,

Having tried and failed with FX trading, risk management was good but keep on getting stopped out only to see the trade then works.

So I was thinking, how about going about it a different way.

How about having a scanner that searches for very obvious either bullish or bearish pin bars, and then look deeper to see if they happened at big sup / res levels, then maybe look a MA / MACD on top of that to confirm.

Thanks
Freddie

 

[Michelle Yeoh]

Yes, pin bar is very popular pattern, if we use all of pin bars without considering market context then it would be painful! I use pin bar and others popular when it is standby support or resistance level, if the middle position I don’t count any pattern.

 

[jellyeb]

How do you combine pin bars with S/R lines? I don't see any combined application of both of them.

 

[Ary Barroso]

Hi,

Having tried and failed with FX trading, risk management was good but keep on getting stopped out only to see the trade then works.

So I was thinking, how about going about it a different way.

How about having a scanner that searches for very obvious either bullish or bearish pin bars, and then look deeper to see if they happened at big sup / res levels, then maybe look a MA / MACD on top of that to confirm.

Thanks
Freddie

Basically, focusing on only trading indicator is not a wise decision; Forex is not that much easy! For being a consistent player, having a good trading skill on technical analysis (trading chart) & fundamental (news) analysis is very much important.