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Pin Bar

LONG - AUD/USD Weekly Pinbar off Key AreaThe AUDUSD presents an increasingly bearish technical stance according to the 4 hours chart on the broader horizon, however we should expect bullish wave this week towards potentially trend line resistance at 0.75 range as Investors digest the report following Fridays NFP and the market equalises. I'm bearish overall on the AUD due to a stronger USD over 2018 with rate hikes still to come in Q3 and Q4 2018. On the weekly charts we are seeing good price action rejecting from last weeks test of 0.73 low’s printing a pinbar off the monthly key level at 0.74.
Long
by No95TradingCo
LongWe have here some long oportunity. The price is moving up since September 2017 and is still respecting trend line. I missed good entry on 1.708 where the price rejected support and trend line, there was also 0.5 fibonacci retracement. Now we can join to this trend from 1.753 area, but only if D1 candle will close above this level. That will expose 1.78 and then price should reach this year top on 1.84 and that is my target. 1.753 i also fibonacci retracement level and it's making stronger this resistance. R/r = 1:1.98 Entry: 1.753 SL: 1.706 TP: 1.846
Long
by DK66
How to enter a trade at the right time! I get asked all the time about trading entries, so here you are, this is my strategy for how I enter trades based on price action, and while price action doesn't tell you the future, it enables you to read what is happening with the most important aspect on any chart, what is the market willing to pay for an instrument, the price! This chart is a daily chart, I use long-term charts to find my levels (support and resistance) and what the trade is doing over a long period which impacts the short period, if you enter using charts lower than 15m, without getting a signal or level from a chart on a higher time frame, you have a high chance of risk and subsequent loss. As this chart shows, we rarely miss trades, because there are so many opportunities to try again, and often lower-risk opportunities than trying to find the top or bottom of a move, this is suicide, we are not market movers, leave that to the hedge funds, banks and pension funds, we make money out of their moves, follow them, don't try to change the market or will it to change, you will lose YOUR money. The Pin bar entry strategy has a high degree of success, it is not a guaranteed trade, they do not exist, but if you research your own charts, on a daily, 4h and 1h timeframe (not lower), you will see them being respected a high degree of the time. The three try rule is my favourite entry, I use it everywhere, do not enter on the first move up or down unless there is a candle pattern that signals the entry, there are many. But once you have your long-term levels on a chart, and price moves back to that level, watch as volume (and confidence) declines, we get lower highs and the probability to enter a trade increases. There are thousands of permutations of these entries, no chart is every the same, no entry without risk, but it's your job to find the highest probability trades with the least amount of risk, if you have any questions or comments, I'd be happy to learn or answer your questions.
Education
by CBMotivation
7
BTCUSD: False Breakout And Pin Bar Point To Low 6Ks.BTCUSD update: Price has established a bearish pin bar after fluctuating around the 6431 to 6614 resistance zone. Like I wrote previously, this is a tricky area to enter new longs, especially with the 7120 reversal zone boundary coupled with a holiday trading environment. 6431 to 6614 is the .618 minor resistance relative to the recent bearish structure measured from the 6850 peak. Generally it is not the most attractive location to initiate new swing trade longs, but an exception is possible depending on the candle formations. At the moment, there is nothing that offers a long trigger that would be worth making an exception for. With a bearish pin bar present, a break below 6414 would be a sell trigger according to the swing trade criteria that we follow. At S.C., we always make it a point to follow best practices. That means aiming to buy near supports and selling near resistances. Since we do not short these markets, buying near a support would be the basis of our next swing trade idea. And the anticipated support is between 6126 and 5977 (minor .618 support relative to the current bullish swing). There is nothing for us to do but wait, especially if price drifts into the 7120 bearish reversal zone boundary. With the U.S. holiday affecting the entire week, false breakouts are very likely which can lead to a sharper correction. In summary, at S.C., we are anticipating a higher low formation following the next retrace in this market. This scenario would signal a broader bullish move is in progress. That is where we plan to initiate a new swing trade long. Until then, we wait and monitor inventory that we accumulated across the board while these markets were looking their worst (we published a number of articles on S.C. about our purchases). There is no hurry to buy, especially in a holiday market where noise and lower volume is typical. Either this market will retrace and offer a higher low possibility, or consolidate and squeeze into the reversal zone. S.C. is where we will share a new trade idea if this market offers one. Otherwise we continue to wait.
BITFINEX:BTCUSD
by MarcPMarkets
10
ETHUSD: Bullish Pin Bar Can Lead To Test Of Low 500's.ETHUSD update: As BTC aggressively took out it's buy trigger earlier today, this market has not. 475.50 is the pin bar high that will signal bullish momentum is in effect. The lack of follow through is not that surprising given the general sentiment, but the probability of the location is still key. Earlier today on S.C., we sent out a swing trade long idea to our followers for BTC. The reason why we are not calling this market, even if it triggers is because it would be the same as buying more BTC. As bullish as we are, we still respect the environmental limitations imposed by the short term structures that are still bearish. In this market, these structures are the bearish trend line and the 581 level (.382 of current bearish structure). As I have been writing about in the other coins, until these areas are taken out, bullish expectations are more appropriate on the conservative side. Being conservative comes in many forms. Tighter profit targets, smaller positions or waiting it out until the general environment changes are some ways to be conservative. Keep in mind we are also managing a portfolio of inventory across multiple coins. We have been increasing our long term coin count which is also a consideration when we account for our overall risk. For those who are interested in this market, if the 475.50 level is taken out, that is a long signal in terms of our methodology. Since I am not calling an official trade idea, I am not going into the reward/risk details. I will say that IF price clears the 500 level, a conservative target in the low 520s is within reason. In summary, earlier on S.C., I mentioned the short sighted nature of the herd through trend following indicators. Like I wrote, they have their place, but understand their limitations. They will not account for the probability of the general location where these markets continue to fluctuate. Just like they did not warn of the 1424 peak. Common sense, best practices and levels at least offered a clue. These lows are the same situation in reverse. There is more to timing markets than consuming news, following "experts" and reacting to lines on a chart.
BITFINEX:ETHUSD
by MarcPMarkets
11
BTCUSD: Bullish Pin Bar Appears In Major Support Area.BTCUSD update: Bullish pin bar forming off of the 6K psychological support area. This should not be very surprising since the probability in this area favors such activity. Now is the time to prepare for the next leg higher. The first consideration is long potential. On S.C., we have been constantly writing about the opportunity at these lows for position trades. If you have the vision, capital and courage, these are great levels to add to inventory. I just published another article today about Litecoin. The great thing about these levels are they now offer attractive reward/risk for shorter term trades. We are eyeing such a level for a swing trade long, but are waiting for confirmation. If a trade triggers here, the target will most likely be in the low 6600's. Although a pin bar of this size implies greater strength, we will not have high expecations of a broader recovery until the trend line is taken out at 6750 for starters. From there, 7381 (.382 resistance relative to current bearish structure) is the next level that must be compromised in order to prove sustained strength. The question is did any of the herd members who depend on oscillators and moving averages see this coming? Probably not since they are relying on tools that look backward. We have been watching this area carefully for this type of price action because we anticipate. That is why you do not see any oscillators on my chart. Consider the probability of what is ahead. Price is fluctuating around the 6K major psychological support. Along with that, two reversal zone boundaries: 5956 and 5669. As I wrote in my previous BTC report, this area is attractive for buyers, especially the strong hands or smart money. Now that the market is beginning to confirm this scenario, we are waiting for a specific signal that is partially determined by the close of the current candle. If a trade idea goes into effect, the details will be available on S.C. only. In summary, in my Litecoin article that I published today I wrote about being a contrarian. During times of extreme sentiment, like we have been seeing in these markets, the real opportunity is for those who can see beyond technical analysis. A very common mistake most traders and investors make, especially less experienced ones, is they are looking for precision, exactness and safety. Real opportunity is messy, imprecise and is far from the obvious. This is especially true at extreme price locations like we are seeing. In order to see ahead clearly, you must not depend on tools that look backward. Trend following indicators have their place, but if you do not understand their limitations, you will continue to be blind to the probabilities that are more in line with the natural tendencies of the market.
BITFINEX:BTCUSD
by MarcPMarkets
26
BTCUSD: 6850 Double Top Break Can Lead To Test Of 7Ks.BTCUSD update: Bearish pin bar low taken out by current candle, a sell signal, only for it to bounce right back. This is a bullish sign which makes sense in light of the general area price has been trading. Keep in mind, there is a great deal of conflict in this area with short term bearish structures going against a broader bullish location. People are going to see different things depending on the time frame being observed. At S.C., we are focused on the potential of the big picture. Even in the face of a sell signal, this market is in a broad support zone that I have been writing about for months. This would be the 8171 to 4983 area which is the .618 of the entire bullish structure relative to the 150 lows. Bearish signals in such an area are high risk, unless you are day trading and using small profit targets. Even then it is hard to justify the benefits considering the amount of attention and costs that go into such an activity. If the 6850 minor double top breaks, this market can squeeze to the low 7Ks which is where the bearish trend line is located. This is a reasonable expectation for a short term move. The question is, what happens at the trend line? If a lower high is established, this market can see another attempt at the 6K low. This scenario can present an attractive buying opportunity which we will be watching for. If the trend line breaks, the 7790 resistance (.382 of recent bearish structure) is the next bearish obstacle. When that level is taken out, the short term outlook will switch from bearish to bullish which changes how we determine stops, targets and expectations. In summary, I often have to repeat that this is not about predictions. It is all about IF. At S.C., we let the market make the choices and based on that information we make adjustments or take no action at all. Since we focus on the bigger picture, and follow best practices, we prefer to bet on the long side, even when it is counter to the short term price action. Market timing is an arena where in reality there are no rules. The only limitations we face are set by our capital and exchange regulations. There is nothing that says when the game begins, how it is played or when it concludes. In this space, you must define every aspect of the game, and that is what an investment or trading plan is all about. Without one, you will be part of what makes a market liquid, not a participator who capitalizes on liquidity. Just something to think about.
BITFINEX:BTCUSD
by MarcPMarkets
18
USDJPY - Bullish flag formation, be careful shortingThere is a nicely shaped bearish pin bar on the daily candlestick chart for the USDJPY pair. While it is a nice candle I do not think it is tradeable given the overall price action picture. A few problems I have with this pattern is that in some of the trend lines interpretations, the pin bar is actually sitting on top of the trend. This pinbar is also forming inside of a bullish flag pattern as well as into a fairly bullish short term trend. I think price could break lower but I don't know if it has enough strength and follow through to make it worth the risk. If price does drop lower that will give us bulls an opportunity to get long from key support and perhaps play a breakout of the bullish flag pattern.
Long
by krugman87
5
Gold / XAUUSD / GC - Gold throws a short term buy signalGold has stayed buoyed above within the pennant after a false break to the downside. This false break occurred on high volume which strengthens the signal. This also greatly weakens my bearish bias. This market is choppy and could get very volatile today so if you do decide to trade any signals right now do so with due diligence and don't oversize your positions. Also keep generous stop loss distances to prevent whipsawing. If price is able to shoot higher from here then we may see a longer term trend reversal form.
OANDA:XAUUSDLong
by krugman87
Copper / XCUUSD / CU - Preparing for bullish buy signalCopper has taken off from a nice bullish pin bar that had formed off of a key support trend line. This was a near text-book pin bar setups and the types of setups price actions traders should always be watching for. Price blasted off higher from the pin bar and is finally having a little bit of pause from a key resistance zone. When I will be watching for is for price to either fall back to the same support trend line and for another buy signal to form, or if price breaks through key resistance I will then be watching for a pullback to this level (which would have become a support zone) and then watching for any price action candlestick buy signals to form.
OANDA:XCUUSDLong
by krugman87
Silver - Bearish pin bar sell signalA large bearish pin bar candlestick has formed off of a key resistance level in silver. Price has been mostly trapped within a sideways range for a number of months. Only once back in April did it try to break it which failed. This is another failed attempt at a bullish breakout and could see price falling lower in the coming days. These are the exact types of candlestick patterns from the exact levels that we want to be looking for and trading. One potential entry we be selling at 16.80 on a 50% retrace of the pin bar, or for a safer entry (with a smaller profit potential) would be to enter on the break of the pin bar at around 16.63. These numbers may vary depending on if you are trading silver using mini futures, micro futures, etf, or CFD. In any case a 50% entry and an entry on the break are 2 common ways to enter a trade from a candlestick signal. The near term support is 16.20-26.25 which would make for a potential profit taking level.
FX_IDC:XAGUSDShort
by krugman87
3
TLT Bullish bat pattern combination with a daily hammerIt's a new try to apply harmonic patterns to treasure bond ETF. While recently people are discussing the yields, which is wildly convinced that it led to the Gold's slump yesterday. With this harmonic patterns combination in TLT, and it gave a daily hammer yesterday, it's quite a nice long trade with patterns and reversal sign combination. It worth noticing, not necessarily worth trading, but short-term speaking, if this is where part of the the bearish emotions for non-USD currencies come from, take some profit for the short is not a bad idea yo! Let's see how it goes!
NASDAQ:TLTLong
by Trader_Joe_Lee
Very bullish price action signals are formingWhile I am personally trading the SPY due to it's great stock and options liquidity there have been a number of great bullish signals being through in multiple index and futures markets. Today I focus on the NASDAQ 100 futures and point out a nice inside bar/2 bar reversal pattern that as already broken out to the upside as well as an inside bar/ false break pattern that is currently forming in the daily. I will be watching where the markets are going into the close but a pin bar does end up forming on the /YM futures I believe that could set us up for our next bullish move. As always with price action, price must break out of the pattern before it is confirmed. In the case of the inside bar/ false break pattern, if we do end the day with that pattern then a breakout of the inside bar pattern would still need to occur for this new signal to be trad-able. Those who jump in early to make a few extra bucks are doing so at the risk of a far less probably trade. When the patterns do break out the probably of success goes way up. Please watch my video analysis here
AMEX:SPYLong
by krugman87